Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2026

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

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of March 31, 2026 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	45,740	$	45,740	$	—	$	—
Corporate debt securities	13,289		—		13,289		—
U.S. Treasury securities	1,993		—		1,993		—
Marketable securities:
Corporate debt securities	166,976		—		166,976		—
U.S. government debt securities	21,042		—		21,042		—
U.S. Treasury securities	18,979		—		18,979		—
Total cash equivalents and marketable securities	$	268,019	$	45,740	$	222,279	$	—

There have been no transfers between fair value levels during the three months ended March 31, 2026.

The following table sets forth the fair value of the Company’s financial assets by level within the fair value hierarchy at December 31, 2025 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	59,857	$	59,857	$	—	$	—
Corporate debt securities	11,476		—		11,476		—
U.S. government debt securities	3,000		—		3,000		—
Marketable securities:
Corporate debt securities	176,614		—		176,614		—
U.S. Treasury securities	29,130		—		29,130		—
U.S. government debt securities	16,753		—		16,753		—
Total cash equivalents and marketable securities	$	296,830	$	59,857	$	236,973	$	—