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Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents the level within the fair value hierarchy at which the Company’s held-to-maturity investments are measured (in thousands):

As of March 31, 2026Level 1Level 2
Other(1)
Total
Cash equivalents
Money market funds$— $— $12,057 $12,057 
Investments
U.S. treasury securities9,443 — — 9,443 
Corporate debt securities— 9,755 — 9,755 
Total $9,443 $9,755 $12,057 $31,255 

As of December 31, 2025Level 1Level 2
Other(1)
Total
Cash equivalents
Money market funds$— $— $8,729 $8,729 
Investments
U.S. treasury securities9,473 — — 9,473 
Corporate debt securities— 12,744 — 12,744 
Total$9,473 $12,744 $8,729 $30,946 
_______________
(1) Investments in money market funds measured at fair value using the net asset value per share practical expedient are not subject to hierarchy level classification disclosure. The Company invests in money market funds that seek to maintain a stable net asset value. These investments include commingled funds that comprise high-quality short-term securities representing liquid debt and monetary instruments where the redemption value is likely to be the fair value. Redemption is permitted daily without written notice.

There were no transfers between levels of the fair value hierarchy during the three months ended March 31, 2026 and the year ended December 31, 2025, respectively. There were no material assets or liabilities that were measured at fair value on a non-recurring basis as of March 31, 2026 or December 31, 2025 other than those disclosed in Note 5 to Notes to Consolidated Financial Statements included in our Annual Report.