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Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments

The following table summarizes the Company’s investments held (in thousands):

 

 

 

June 30, 2026

 

 

 

Amortized
Cost

 

 

Unrealized Holding
Gains

 

 

Unrealized Holding
Losses

 

 

Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

   United States treasuries

 

$

14,970

 

 

$

—

 

 

$

(1

)

 

$

14,969

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

   United States treasuries

 

 

209,557

 

 

 

—

 

 

 

(471

)

 

 

209,086

 

Long-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

   United States treasuries

 

 

154,289

 

 

 

—

 

 

 

(338

)

 

 

153,951

 

Total financial assets

 

$

378,816

 

 

$

—

 

 

$

(810

)

 

$

378,006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

 

Amortized
Cost

 

 

Unrealized Holding
Gains

 

 

Unrealized Holding
Losses

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

   United States treasuries

 

$

169,662

 

 

$

279

 

 

$

—

 

 

$

169,941

 

Long-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

   United States treasuries

 

 

17,639

 

 

 

31

 

 

 

—

 

 

 

17,670

 

Total financial assets

 

$

187,301

 

 

$

310

 

 

$

—

 

 

$

187,611