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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Summary of Financial Assets Measured at Fair Value on a Recurring Basis | The following tables summarize the fair value of the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
|  |  |  | June 30, 2025 |
|  | Valuation Hierarchy |  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Aggregate Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | Level 1 |  | $ | 27,102 |  |  | $ | — |  |  | $ | — |  |  | $ | 27,102 |
Government bonds |  | Level 2 |  |  | 96,620 |  |  |  | — |  |  |  | — |  |  |  | 96,620 |
Total cash equivalents |  |  |  |  | 123,722 |  |  |  | — |  |  |  | — |  |  |  | 123,722 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government bonds |  | Level 2 |  |  | 94,738 |  |  |  | 2 |  |  |  | (11 | ) |  |  | 94,729 |
Total short-term investments |  |  |  |  | 94,738 |  |  |  | 2 |  |  |  | (11 | ) |  |  | 94,729 |
|  |  |  | $ | 218,460 |  |  | $ | 2 |  |  | $ | (11 | ) |  | $ | 218,451 |
|  |  |  | December 31, 2024 |
|  | Valuation Hierarchy |  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Aggregate Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | Level 1 |  | $ | 31,680 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,680 |
Government bonds |  | Level 2 |  |  | 15,167 |  |  |  | — |  |  |  | — |  |  |  | 15,167 |
Total cash equivalents |  |  |  |  | 46,847 |  |  |  | — |  |  |  | — |  |  |  | 46,847 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government bonds |  | Level 2 |  |  | 262,424 |  |  |  | 98 |  |  |  | (3 | ) |  |  | 262,519 |
Total short-term investments |  |  |  |  | 262,424 |  |  |  | 98 |  |  |  | (3 | ) |  |  | 262,519 |
|  |  |  | $ | 309,271 |  |  | $ | 98 |  |  | $ | (3 | ) |  | $ | 309,366 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 + Details
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