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FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The Company’s investments in money market accounts are recorded as cash equivalents at fair value on the condensed consolidated balance sheets. Additionally, the Company carries its available-for-sale debt securities at fair value. See Note 3, “Marketable Securities,” for further details.
The accounting guidance for fair value measurements prioritizes the inputs used in measuring fair value in the following hierarchy:
Level 1—Observable inputs, such as quoted prices in active markets,
Level 2—Inputs other than quoted prices in active markets that are observable either directly or indirectly, or
Level 3—Unobservable inputs in which there are little or no market data, which require the Company to develop its own assumptions.
This hierarchy requires the Company to use observable market data, when available, to minimize the use of unobservable inputs when determining fair value. The Company’s money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices in active markets. The Company’s certificates of deposit, commercial paper, corporate bonds, agency bonds and U.S. government securities are classified within Level 2 of the fair value hierarchy because they have been valued using inputs other than quoted prices in active markets that are observable directly or indirectly.
The following table represents the fair value of the Company’s financial instruments, including those measured at fair value on a recurring basis, as of September 30, 2025 and December 31, 2024 (in thousands):
September 30, 2025December 31, 2024
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents: 
Money market funds$86,924 $— $— $86,924 $102,793 $— $— $102,793 
Marketable securities:
Certificates of deposit— 2,515 — 2,515 — 1,282 — 1,282 
Commercial paper— 3,241 — 3,241 — 8,867 — 8,867 
Corporate bonds— 37,162 — 37,162 — 38,483 — 38,483 
Agency bonds— — — — — 1,238 — 1,238 
U.S. government securities— 59,564 — 59,564 — 50,711 — 50,711 
Other investments:
Certificates of deposit(1)
— 10,000 — 10,000 — 10,000 — 10,000 
Total cash equivalents, marketable securities and other investments$86,924 $112,482 $— $199,406 $102,793 $110,581 $— $213,374 
(1) Reflected in prepaid expenses and other current assets on the condensed consolidated balance sheets.
Certain long- and indefinite-lived assets are recognized at fair value on a nonrecurring basis, including assets that are written down as a result of an impairment. The Company recognized impairment charges related to right-of-use (“ROU”) assets and leasehold improvements associated with certain office space that it subleased during the three and nine months ended September 30, 2024. See Note 9, “Leases,” for further details. The Company estimated the fair value of these assets as of the impairment dates using an income approach based on discounted cash flows expected to be received for the subleased properties. This valuation technique relied on certain assumptions made by management based on both internal and external data, such as the incremental borrowing rates used to discount these cash flows to their present values. As a result, these assets are classified within Level 3 of the fair value hierarchy.