Fair value measurement (Tables)

9 Months Ended

Sep. 30, 2025

Fair value measurement

Schedule of financial assets measured at fair value on a recurring basis

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

	September 30, 2025
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash equivalents:
Money market funds	1	$	271,596	$	—	$	—	$	271,596
Total financial assets		$	271,596	$	—	$	—	$	271,596

	December 31, 2024
	Level	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash equivalents:
Money market funds	1	$	46,987	$	—	$	—	$	46,987
U.S. treasury securities	2		94,379		40		—		94,419
Marketable securities:
U.S. treasury securities	2		73,935		17		—		73,952
Total financial assets		$	215,301	$	57	$	—	$	215,358