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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value on a Recurring Basis

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy:

 

 

 

June 30, 2026

 

 

 

Fair Value
Hierarchy

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair Market
Value

 

 

 

(In thousands)

 

Money market funds

 

Level 1

 

$

28,455

 

 

$

 

 

$

 

 

$

28,455

 

U.S. government treasury securities

 

Level 1

 

 

11,984

 

 

 

2

 

 

 

(23

)

 

 

11,963

 

Certificates of deposit

 

Level 2

 

 

5,862

 

 

 

1

 

 

 

 

 

 

5,863

 

Commercial paper

 

Level 2

 

 

63,054

 

 

 

 

 

 

(18

)

 

 

63,036

 

Corporate bonds

 

Level 2

 

 

61,852

 

 

 

9

 

 

 

(97

)

 

 

61,764

 

Total cash equivalents and
  marketable securities

 

 

 

$

171,207

 

 

$

12

 

 

$

(138

)

 

$

171,081

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

 

Fair Value
Hierarchy

 

Amortized
Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Fair Market
Value

 

 

 

(In thousands)

 

Money market funds

 

Level 1

 

$

36,834

 

 

$

 

 

$

 

 

$

36,834

 

U.S. government treasury securities

 

Level 1

 

 

13,915

 

 

 

13

 

 

 

 

 

 

13,928

 

Certificates of deposit

 

Level 2

 

 

9,468

 

 

 

7

 

 

 

 

 

 

9,475

 

Commercial paper

 

Level 2

 

 

92,887

 

 

 

9

 

 

 

(7

)

 

 

92,889

 

Corporate bonds

 

Level 2

 

 

102,135

 

 

 

151

 

 

 

(7

)

 

 

102,279

 

Total cash equivalents and
  marketable securities

 

 

 

$

255,239

 

 

$

180

 

 

$

(14

)

 

$

255,405