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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured on Recurring Basis

 

 

June 30, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Treasury securities (1) (3)

 

$

90,243

 

 

$

 

 

$

 

 

$

90,243

 

Money market funds (2) (3)

 

 

32,087

 

 

 

 

 

 

 

 

 

32,087

 

Total fair value of assets

 

$

122,330

 

 

$

 

 

$

 

 

$

122,330

 

 

 

 

December 31, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Treasury securities (1) (3)

 

$

119,808

 

 

$

 

 

$

 

 

$

119,808

 

Money market funds (2) (3)

 

 

27,084

 

 

 

 

 

 

 

 

 

27,084

 

Total fair value of assets

 

$

146,892

 

 

$

 

 

$

 

 

$

146,892

 

 

 

(1)
Included in short-term investments in treasury securities in the consolidated balance sheets. These securities have maturity dates of greater than three months, but less than twelve months from the date of purchase.
(2)
Included in cash and cash equivalents in the consolidated balance sheets.
(3)
Treasury securities and money market funds are included within Level 1 of the fair value hierarchy because they are actively traded and valued using quoted market prices.