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Fair Value of Financial Instruments (Tables)

6 Months Ended

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

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X

- References

No definition available.

+ Details

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