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Fair Value Measurements (Tables)

6 Months Ended

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			$	—