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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2025
Balance Sheet Components [Abstract] |
Balance Sheet Components | 5. Balance Sheet Components Investments The fair value of the Company’s available-for-sale investments and restricted cash as of December 31, 2025 are as follows (in thousands):
| December 31, 2025
|  | Amortized |  |  | Gross Unrealized |  |  | Estimated
| Cost |  | Gains |  | Losses |  |  | Fair Value
Assets |  |  |  |  |  |  |  |  |  |  |
Money market funds, included in cash equivalents | $ | 27,806 |  | $ | — |  | $ | — |  | $ | 27,806
Money market funds, included in restricted cash, non-current |  | 4,709 |  |  | — |  |  | — |  |  | 4,709
U.S. government securities |  | 81,385 |  |  | 94 |  |  | — |  |  | 81,479
U.S. treasury bills |  | 39,568 |  |  | 25 |  |  | — |  |  | 39,593
Corporate bonds/notes |  | 57,564 |  |  | 19 |  |  | (12) |  |  | 57,571
Agency bonds/notes |  | 25,147 |  |  | 7 |  |  | (3) |  |  | 25,151
Asset-backed securities |  | 21,689 |  |  | 22 |  |  | — |  |  | 21,711
Commercial paper |  | 9,868 |  |  | 2 |  |  | — |  |  | 9,870
Total | $ | 267,736 |  | $ | 169 |  | $ | (15) |  | $ | 267,890
Classified as: |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  | $ | 27,806
Short-term investments |  |  |  |  |  |  |  |  |  |  | 132,010
Long-term investments |  |  |  |  |  |  |  |  |  |  | 103,365
Restricted cash |  |  |  |  |  |  |  |  |  |  | 4,709
Total |  |  |  |  |  |  |  |  |  | $ | 267,890
The following table summarizes the fair value of the Company’s cash equivalents, and available-for-sale investments classified by maturity as of December 31, 2025 (in thousands):
| December 31, 2025
Amounts maturing within one year | $ | 159,816
Amounts maturing after one year through two years |  | 103,365
Total | $ | 263,181
Available-for-sale investments held as of December 31, 2025 had a weighted average days to maturity of 346 days. The following table presents the Company’s available-for-sale investments that were in an unrealized loss position as of December 31, 2025 (in thousands):
| December 31, 2025
| Less than 12 months
| Fair Value |  | Unrealized Loss
Assets |  |  |  |  |
Corporate bonds/notes | $ | 26,716 |  | $ | (12)
Agency bonds/notes |  | 3,995 |  |  | (3)
Total | $ | 30,711 |  | $ | (15)
There were no available-for-sale investments in an unrealized loss position greater than twelve months as of December 31, 2025. ‎ Allowance for Credit Losses The following table presents a reconciliation of the allowance for credit losses (in thousands):
| Year Ended December 31,
| 2025 |  | 2024
Balance at beginning of period | $ | 814 |  | $ | 1,058
Additions |  | — |  |  | —
Write-offs |  | (188) |  |  | (244)
Balance at end of period | $ | 626 |  | $ | 814
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are comprised of the following (in thousands):
| December 31,
| 2025 |  | 2024
Prepaid expenses | $ | 5,964 |  | $ | 3,017
Contract costs, current |  | 6,669 |  |  | 2,453
Other |  | 1,442 |  |  | 662
Total prepaid expenses and other current assets | $ | 14,075 |  | $ | 6,132
Property and equipment, net Property and equipment consisted of the following (in thousands):
| December 31,
| 2025 |  | 2024
Property and equipment at cost: |  |  |  |  |
Computer equipment and software | $ | 4,223 |  | $ | 4,489
Furniture, fixtures and equipment |  | 2,114 |  |  | 1,233
Capitalized internal-use software |  | 12,529 |  |  | 52,606
Leasehold improvements |  | 2,086 |  |  | 2,057
Construction in progress |  | 140 |  |  | 27
Total property and equipment |  | 21,092 |  |  | 60,412
Less: Accumulated depreciation and amortization |  | (12,505) |  |  | (51,492)
Property and equipment, net | $ | 8,587 |  | $ | 8,920
The Company capitalized certain internal-use software costs totaling $3.9 million, $4.1 million and $4.6 million, including stock-based compensation of $27,000, $393,000 and $408,000 related to internal-use software development efforts, during the years ended December 31, 2025, 2024 and 2023, respectively. Amortization of capitalized internal-use software totaled $4.0 million, $3.7 million and $3.2 million for the years ended December 31, 2025, 2024 and 2023, respectively. Depreciation and amortization expense related to property and equipment, excluding capitalized internal-use software, was $1.5 million, $1.7 million and $1.5 million for the years ended December 31, 2025, 2024 and 2023, respectively. Other Non-Current Assets Other non-current assets are comprised of the following (in thousands):
| December 31,
| 2025 |  | 2024
Contract costs, net | $ | 4,260 |  | $ | 3,701
Deferred offering costs |  | — |  |  | 413
Other |  | 839 |  |  | 252
Total other non-current assets | $ | 5,099 |  | $ | 4,366
Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities are comprised of the following (in thousands):
| December 31,
| 2025 |  | 2024
Accrued payroll and related expenses | $ | 28,150 |  | $ | 18,206
Accrued professional fees |  | 1,162 |  |  | 1,672
Accrued clinical trial expenses |  | 864 |  |  | 1,215
Customer contract and rebate liabilities |  | 627 |  |  | 1,041
Accrued royalty |  | 550 |  |  | 736
Other |  | 1,926 |  |  | 2,449
| $ | 33,279 |  | $ | 25,319

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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