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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis (in thousands):

 

 

Fair Value Measurements at
September 30, 2025:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

52,547

 

 

$

 

 

$

 

 

$

52,547

 

U.S. Treasury securities

 

$

7,467

 

 

$

22,371

 

 

$

 

 

$

29,838

 

 

$

60,014

 

 

$

22,371

 

 

$

 

 

$

82,385

 

 

 

Fair Value Measurements at
December 31, 2024:

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

68,345

 

 

$

 

 

$

 

 

$

68,345

 

U.S. Treasury securities

 

$

 

 

$

 

 

$

 

 

$

 

 

$

68,345

 

 

$

 

 

$

 

 

$

68,345