Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are as follows (in thousands):

	Fair Value Measurements at Reporting Date
	Total		Level 1		Level 2		Level 3
At March 31, 2025:
Cash equivalents
Money market funds	$	21,973	$	21,973	$	—	$	—
Corporate debt securities	647		—		647		$	—
Total cash equivalents measured at fair value	$	22,620	$	21,973	$	647	$	—
Marketable securities
Commercial paper	$	51,933	$	—	$	51,933	$	—
U.S. treasury securities	48,851		48,851		—		—
Corporate debt securities	44,928		—		44,928		—
U.S. government agency securities	25,222		—		25,222		—
Total marketable securities measured at fair value	$	170,934	$	48,851	$	122,083	$	—
At December 31, 2024:
Cash equivalents
Money market funds	$	17,693	$	17,693	$	—	$	—
U.S. government securities	999		—		999		—
U.S. treasury securities	997		997		—		—
Total cash equivalents measured at fair value	$	19,689	$	18,690	$	999	$	—
Marketable securities
Commercial paper	$	58,823	$	—	$	58,823	$	—
U.S. treasury securities	46,309		46,309		—		—
Corporate debt securities	43,669		—		43,669		—
U.S. government agency securities	40,071		—		40,071		—
Total marketable securities measured at fair value	$	188,872	$	46,309	$	142,563	$	—

Schedule of Marketable Securities

The following table presents the amortized cost and estimated fair market value of our cash equivalents and marketable securities as of the dates presented (in thousands):

	March 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	21,973	$	—	$	—	$	21,973
Corporate debt securities	646		1		—		647
Marketable securities:
Commercial paper	$	51,926	$	24	$	(17)	$	51,933
U.S. treasury securities	48,785		66		—		48,851
Corporate debt securities	44,898		33		(3)		44,928
U.S. government agency securities	25,203		21		(2)		25,222
Totals	$	193,431	$	145	$	(22)	$	193,554

	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	17,693	$	—	$	—	$	17,693
U.S. government securities	999		—		—		999
U.S. treasury securities	997		—		—		997
Marketable securities:
Commercial paper	$	58,798	$	56	$	(31)	$	58,823
U.S. treasury securities	46,231		80		(2)		46,309
Corporate debt securities	43,634		49		(14)		43,669
U.S. government agency securities	40,013		60		(2)		40,071
Totals	$	208,365	$	245	$	(49)	$	208,561

Investments Classified by Contractual Maturity Date

The following table presents available-for-sale securities by contractual maturity date as of March 31, 2025 (in thousands):

	March 31, 2025
	Amortized Cost		Estimated Fair Value
Due in one year or less	$	155,391	$	155,475
Due after one year	15,421		15,459
Total	$	170,812	$	170,934

Schedule of Preferred Stock Warrant Liability Activity

The following table presents activity for the preferred stock warrants liability during the three months ended March 31, 2024 (in thousands):

	Preferred Stock Warrants Liability
Balance at December 31, 2023	$	871
Change in fair value	1,047
Conversion of preferred stock warrants liability to equity	(1,918)
Balance at March 31, 2024	$	—