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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

Fair Value Measurements as of
March 31, 2025

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

115,843

 

 

$

 

 

$

 

 

$

115,843

 

Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

US Treasury obligations

 

 

 

 

 

58,706

 

 

 

 

 

 

58,706

 

US Government agency securities

 

 

 

 

 

11,921

 

 

 

 

 

 

11,921

 

Asset-backed securities

 

 

 

 

 

60,458

 

 

 

 

 

 

60,458

 

Commercial paper

 

 

 

 

 

7,953

 

 

 

 

 

 

7,953

 

Corporate bonds

 

 

 

 

 

167,004

 

 

 

 

 

 

167,004

 

Total

 

$

115,843

 

 

$

306,042

 

 

$

 

 

$

421,885

 

 

 

 

 

Fair Value Measurements as of
December 31, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

60,984

 

 

$

 

 

$

 

 

$

60,984

 

Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

US Treasury obligations

 

 

 

 

 

109,036

 

 

 

 

 

 

109,036

 

US Government agency securities

 

 

 

 

 

25,094

 

 

 

 

 

 

25,094

 

Asset-backed securities

 

 

 

 

 

60,071

 

 

 

 

 

 

60,071

 

Commercial paper

 

 

 

 

 

21,857

 

 

 

 

 

 

21,857

 

Corporate bonds

 

 

 

 

 

173,967

 

 

 

 

 

 

173,967

 

Total

 

$

60,984

 

 

$

390,025

 

 

$

 

 

$

451,009