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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 are summarized as follows (in thousands):
|  | June 30, 2026 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 89,133 |  |  | $ | — |  |  | $ | — |
Total cash equivalents |  |  | 89,133 |  |  |  | — |  |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |  |
U.S. treasury securities |  |  | — |  |  |  | 440,035 |  |  |  | — |
Corporate debt securities |  |  | — |  |  |  | 89,404 |  |  |  | — |
U.S. government agency securities |  |  | — |  |  |  | 89,631 |  |  |  | — |
Total marketable securities |  |  | — |  |  |  | 619,070 |  |  |  | — |
Total assets |  | $ | 89,133 |  |  | $ | 619,070 |  |  | $ | — |
Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 are summarized as follows (in thousands):
|  | December 31, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 72,932 |  |  | $ | — |  |  | $ | — |
Corporate debt securities |  |  | — |  |  |  | 9,981 |  |  |  | — |
Total cash equivalents |  |  | 72,932 |  |  |  | 9,981 |  |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |  |
U.S. treasury securities |  |  | — |  |  |  | 485,529 |  |  |  | — |
Corporate debt securities |  |  | — |  |  |  | 132,941 |  |  |  | — |
U.S. government agency securities |  |  | — |  |  |  | 81,537 |  |  |  | — |
Total marketable securities |  |  | — |  |  |  | 700,007 |  |  |  | — |
Total assets |  | $ | 72,932 |  |  | $ | 709,988 |  |  | $ | — |

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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