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Fair Value Measurements (Tables)

6 Months Ended

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

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- References

No definition available.

+ Details

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