XML 37 R26.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis by Level Within Fair Value Hierarchy

The following tables summarize 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 Costs				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	23,312			$	—			$	—			$	23,312
Corporate debt		Level 2			1,825				—				—				1,825
Short-term investments:
U.S. Treasury securities		Level 1			84,841				24				(11	)			84,854
U.S. government-sponsored enterprises debt securities		Level 2			3,999				—				(1	)			3,998
Corporate debt		Level 2			50,625				36				(2	)			50,659
Commercial paper		Level 2			1,945				—				—				1,945
Foreign entity bond		Level 2			3,071				4				—				3,075
Total cash equivalents and short-term investments				$	169,618			$	64			$	(14	)		$	169,668


				December 31, 2024
		Valuation Hierarchy		Amortized Costs				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Aggregate Fair Value
Assets:
Cash equivalents:
Money market funds		Level 1		$	110,979			$	—			$	—			$	110,979
Short-term investments:
Corporate debt		Level 2			34,629				43				(1	)			34,671
Total cash equivalents and short-term investments				$	145,608			$	43			$	(1	)		$	145,650

Schedule of Breakdown of the Available-for-Sale Debt Securities With Unrealized Losses

The following tables present the breakdown of the available-for-sale debt securities with unrealized losses as of June 30, 2025, and December 31, 2024 (in thousands):


		June 30, 2025
		Unrealized losses less than 12 months								Unrealized losses 12 months or greater								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
U.S. Treasury securities		$	53,148			$	(11	)		$	—			$	—			$	53,148			$	(11	)
U.S. government-sponsored enterprises debt securities		$	3,999			$	(1	)		$	—			$	—			$	3,999			$	(1	)
Corporate debt		$	9,604			$	(2	)		$	—			$	—			$	9,604			$	(2	)
Total		$	66,751			$	(14	)		$	—			$	—			$	66,751			$	(14	)


		December 31, 2024
		Unrealized losses less than 12 months								Unrealized losses 12 months or greater								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Corporate debt			2,994				(1	)			—				—				2,994				(1	)
Total		$	2,994			$	(1	)		$	—			$	—			$	2,994			$	(1	)