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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by level within the valuation hierarchy:
|  | March 31, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 76,347 |  |  | $ | — |  |  | $ | — |  |  | $ | 76,347 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | — |  |  |  | 80,627 |  |  |  | — |  |  |  | 80,627 |
Certificates of deposit |  |  | — |  |  |  | 607 |  |  |  | — |  |  |  | 607 |
U.S. government securities |  |  | 26,970 |  |  |  | — |  |  |  | — |  |  |  | 26,970 |
Corporate debt securities |  |  | — |  |  |  | 14,289 |  |  |  | — |  |  |  | 14,289 |
Total assets measured at fair value |  | $ | 103,317 |  |  | $ | 95,523 |  |  | $ | — |  |  | $ | 198,840 |
|  | December 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 94,411 |  |  | $ | — |  |  | $ | — |  |  | $ | 94,411 |
Commercial paper |  |  | — |  |  |  | 30,881 |  |  |  | — |  |  |  | 30,881 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | — |  |  |  | 61,383 |  |  |  | — |  |  |  | 61,383 |
Certificates of deposit |  |  | — |  |  |  | 1,918 |  |  |  | — |  |  |  | 1,918 |
U.S. government securities |  |  | 74,444 |  |  |  | — |  |  |  | — |  |  |  | 74,444 |
Corporate debt securities |  |  | — |  |  |  | 27,685 |  |  |  | — |  |  |  | 27,685 |
Total assets measured at fair value |  | $ | 168,855 |  |  | $ | 121,867 |  |  | $ | — |  |  | $ | 290,722 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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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