Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses, and Fair Value

All of the Company's marketable securities are classified as available-for-sale. The amortized cost, gross unrealized gains, gross unrealized losses, and fair value of the Company’s marketable securities, by major security type, were as follows (in thousands):

	As of June 30, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Treasuries	$	57,755	$	43	$	(19)	$	57,779
U.S. Government agency bonds	41,743		11		(48)		41,706
Corporate bonds	28,749		43		(1)		28,791
Total marketable securities	$	128,247	$	97	$	(68)	$	128,276

	As of December 31, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	1,494	$	—	$	—	$	1,494
U.S. Treasuries	61,891		19		(53)		61,857
U.S. Government agency bonds	93,987		89		(98)		93,978
Corporate bonds	74,937		148		(1)		75,084
Total marketable securities	$	232,309	$	256	$	(152)	$	232,413

Summary of Fair Value and Gross Unrealized Losses

The following tables show the fair value and gross unrealized losses of the Company’s marketable securities aggregated by major security type and length of time that the individual securities have been in a continuous unrealized loss position (in thousands):

	Less Than 12 Months
As of June 30, 2025	Fair Value		Unrealized Losses
U.S. Treasuries	$	31,906	$	(19)
U.S. Government agency bonds	28,881		(48)
Corporate bonds	1,499		(1)
Total	$	62,286	$	(68)

	Less Than 12 Months
As of December 31, 2024	Fair Value		Unrealized Losses
U.S. Treasuries	$	35,085	$	(53)
U.S. Government agency bonds	32,148		(98)
Corporate bonds	7,415		(1)
Total	$	74,648	$	(152)

Summary of Contractual Maturities of Marketable Securities

The following table summarizes the contractual maturities of the Company’s marketable securities (in thousands):

	As of June 30, 2025				As of December 31, 2024
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	104,897	$	104,917	$	197,141	$	197,306
Due in one to two years	23,350		23,359		35,168		35,107
Total	$	128,247	$	128,276	$	232,309	$	232,413