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Fair Value of Financial Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Summary Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):
|  | Fair value measurements as of March 31, 2026 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 109,746 |  |  | $ | — |  |  | $ | — |  |  | $ | 109,746 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency debt securities |  |  | — |  |  |  | 226,466 |  |  |  | — |  |  |  | 226,466 |
Corporate debt securities |  |  | — |  |  |  | 161,884 |  |  |  | — |  |  |  | 161,884 |
Commercial paper |  |  | — |  |  |  | 81,745 |  |  |  | — |  |  |  | 81,745 |
Total assets |  | $ | 109,746 |  |  | $ | 470,095 |  |  | $ | — |  |  | $ | 579,841 |
|  | Fair value measurements as of December 31, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 104,212 |  |  | $ | — |  |  | $ | — |  |  | $ | 104,212 |
Corporate debt securities |  |  | — |  |  |  | 27,353 |  |  |  | — |  |  |  | 27,353 |
Commercial paper |  |  | — |  |  |  | 25,922 |  |  |  | — |  |  |  | 25,922 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency debt securities |  |  | — |  |  |  | 231,915 |  |  |  | — |  |  |  | 231,915 |
Corporate debt securities |  |  | — |  |  |  | 167,268 |  |  |  | — |  |  |  | 167,268 |
Commercial paper |  |  | — |  |  |  | 93,278 |  |  |  | — |  |  |  | 93,278 |
Total assets |  | $ | 104,212 |  |  | $ | 545,736 |  |  | $ | — |  |  | $ | 649,948 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 + Details
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