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Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The fair value of the Company’s financial assets measured on a recurring basis was as follows:
December 31, 2025
Level ITotal
Cash and cash equivalents:
Cash$57,363 $57,363 
Money market funds197,112 197,112 
Total Cash and cash equivalents$254,475 $254,475 
December 31, 2024
Level ITotal
Cash and cash equivalents:
Cash$79,378 $79,378 
Money market funds349,068 349,068 
Total Cash and cash equivalents$428,446 $428,446 
The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company had no Level 2 or Level 3 financial assets as of December 31, 2025 and 2024.
Interest income from investments was $11,310, $19,875 and $23,767 for the years ended December 31, 2025, 2024 and 2023, respectively.
Financial Instruments Not Recorded at Fair Value on a Recurring Basis
The Company reports financial instruments at fair value, with the exception of its convertible notes and Term Loan A (as defined in Note 7. Debt). The amortized cost of Term Loan A approximates fair value as of December 31, 2025.
Financial instruments that are not recorded at fair value on a recurring basis are measured at fair value on a quarterly basis for disclosure purposes. Refer to Note 7. Debt for the carrying values and estimated fair values of financial instruments not recorded at fair value.