Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

3. Fair Value of Financial Instruments

The Company’s cash equivalents are generally classified within Level 1 of the fair value hierarchy. 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 used to determine such fair values as of December 31, 2024 and December 31, 2023 (in thousands):

	Fair Value Measurements as of December 31, 2024:
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	3,025	$	—	$	—	$	3,025
Cash equivalents	$	3,025	$	—	$	—	$	3,025

	Fair Value Measurements as of December 31, 2023:
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	7,244	$	—	$	—	$	7,244
Cash equivalents	$	7,244	$	—	$	—	$	7,244

During the year ended December 31, 2024 and 2023, there were no transfers between levels. The fair value of the Company's cash equivalents, consisting of money market funds, is based on quoted market prices in active markets with no valuation adjustment.

The Company believes the carrying amounts of its accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses approximate their fair value due to the short-term nature of these amounts.