Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025:
Cash equivalents
Money market funds	$	35,609	$	35,609	$	—	$	—
Corporate debt securities	1,550		—		1,550		—
Total cash equivalents measured at fair value	$	37,159	$	35,609	$	1,550	$	—
Marketable securities
U.S. treasury securities	$	51,902	$	51,902	$	—	$	—
Commercial paper	50,548		—		50,548		—
Corporate debt securities	49,005		—		49,005		—
U.S. government agency securities	18,444		—		18,444		—
Asset-backed securities	2,012		—		2,012		—
Total marketable securities measured at fair value	$	171,911	$	51,902	$	120,009	$	—
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):

	June 30, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	35,609	$	—	$	—	$	35,609
Corporate debt securities	1,550		—		—		1,550
Marketable securities:
U.S. treasury securities	$	51,865	$	42	$	(5)	$	51,902
Commercial paper	50,563		5		(20)		50,548
Corporate debt securities	48,992		17		(4)		49,005
U.S. government agency securities	18,440		8		(4)		18,444
Asset-backed securities	2,013		—		(1)		2,012
Totals	$	209,032	$	72	$	(34)	$	209,070

	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 June 30, 2025 (in thousands):

	June 30, 2025
	Amortized Cost		Estimated Fair Value
Due in one year or less	$	157,218	$	157,228
Due after one year	14,655		14,683
Total	$	171,873	$	171,911

Schedule of Preferred Stock Warrant Liability Activity

The following table presents activity for the preferred stock warrants liability during the six months ended June 30, 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 June 30, 2024	$	—