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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Summary of Financial Instruments Measured at Fair Value on Recurring Basis by Level Within Fair Value Hierarchy | The following tables summarize the Company's financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
|  |  |  | June 30, 2025 |
|  | Valuation Hierarchy |  | Amortized Cost |  |  | Unrealized Losses |  |  | Unrealized Gains |  |  | Estimated Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | Level 1 |  | $ | 42,034 |  |  | $ | — |  |  | $ | — |  |  | $ | 42,034 |
Commercial paper |  | Level 2 |  |  | 9,186 |  |  |  | — |  |  |  | — |  |  |  | 9,186 |
U.S. Government securities |  | Level 2 |  |  | 1,500 |  |  |  | — |  |  |  | — |  |  |  | 1,500 |
Total Cash equivalents |  |  |  |  | 52,720 |  |  |  | — |  |  |  | — |  |  |  | 52,720 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | Level 2 |  | $ | 141,657 |  |  | $ | (12 | ) |  | $ | 335 |  |  | $ | 141,980 |
Commercial paper |  | Level 2 |  |  | 20,636 |  |  |  | — |  |  |  | — |  |  |  | 20,636 |
Government securities |  | Level 2 |  |  | 73,626 |  |  |  | (19 | ) |  |  | 50 |  |  |  | 73,657 |
Total short-term investments |  |  |  |  | 235,919 |  |  |  | (31 | ) |  |  | 385 |  |  |  | 236,273 |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | Level 2 |  | $ | 3,463 |  |  | $ | (4 | ) |  | $ | 7 |  |  | $ | 3,466 |
Government securities |  | Level 2 |  |  | 38,140 |  |  |  | (41 | ) |  |  | 46 |  |  | $ | 38,145 |
Total long-term investments |  |  |  |  | 41,603 |  |  |  | (45 | ) |  |  | 53 |  |  |  | 41,611 |
Total |  |  |  | $ | 330,242 |  |  | $ | (76 | ) |  | $ | 438 |  |  | $ | 330,604 |
|  |  |  | December 31, 2024 |
|  | Valuation Hierarchy |  | Amortized Cost |  |  | Unrealized Losses |  |  | Unrealized Gains |  |  | Estimated Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | Level 1 |  | $ | 25,617 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,617 |
Commercial paper |  | Level 2 |  |  | 1,395 |  |  |  | — |  |  |  | — |  |  |  | 1,395 |
Government securities |  | Level 2 |  |  | 300 |  |  |  | — |  |  |  | — |  |  |  | 300 |
Total cash equivalents |  |  |  |  | 27,312 |  |  |  | — |  |  |  | — |  |  |  | 27,312 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | Level 2 |  | $ | 124,283 |  |  | $ | (38 | ) |  | $ | 303 |  |  | $ | 124,548 |
Commercial paper |  | Level 2 |  |  | 22,820 |  |  |  | — |  |  |  | — |  |  |  | 22,820 |
Government securities |  | Level 2 |  |  | 92,013 |  |  |  | (17 | ) |  |  | 117 |  |  |  | 92,113 |
Total short-term investments |  |  |  |  | 239,116 |  |  |  | (55 | ) |  |  | 420 |  |  |  | 239,481 |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | Level 2 |  | $ | 85,992 |  |  | $ | (62 | ) |  | $ | 332 |  |  | $ | 86,262 |
Government securities |  | Level 2 |  |  | 24,091 |  |  |  | (29 | ) |  |  | 68 |  |  |  | 24,130 |
Total long-term investments |  |  |  |  | 110,083 |  |  |  | (91 | ) |  |  | 400 |  |  |  | 110,392 |
Commercial paper |  | Level 2 |  |  | 1,395 |  |  |  | — |  |  |  | — |  |  |  | 1,395 |
Total |  |  |  | $ | 376,511 |  |  | $ | (146 | ) |  | $ | 820 |  |  | $ | 377,185 |

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + 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 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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