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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities measured at fair value on recurring basis

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and indicates their respective levels within the fair value hierarchy (in thousands):

 

 

 

 

AS OF MARCH 31, 2025

 

 

CLASSIFICATION

 

TOTAL

 

 

LEVEL 1

 

 

LEVEL 2

 

 

LEVEL 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Cash and cash equivalents

 

$

23,137

 

 

$

23,137

 

 

$

 

 

$

 

Government bonds

 

Cash and cash equivalents

 

 

1,600

 

 

 

 

 

 

1,600

 

 

 

 

Commercial paper

 

Short-term investments

 

 

47,037

 

 

 

 

 

 

47,037

 

 

 

 

Government and government agency bonds

 

Short-term investments

 

 

62,161

 

 

 

 

 

 

62,161

 

 

 

 

Corporate bonds

 

Short-term investments

 

 

26,364

 

 

 

 

 

 

26,364

 

 

 

 

Total assets

 

 

 

$

160,299

 

 

$

23,137

 

 

$

137,162

 

 

$

 

 

 

 

 

AS OF DECEMBER 31, 2024

 

 

CLASSIFICATION

 

TOTAL

 

 

LEVEL 1

 

 

LEVEL 2

 

 

LEVEL 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Cash and cash equivalents

 

$

31,553

 

 

$

31,553

 

 

$

 

 

$

 

Government bonds

 

Cash and cash equivalents

 

 

6,574

 

 

 

 

 

 

6,574

 

 

 

 

Commercial paper

 

Short-term investments

 

 

64,855

 

 

 

 

 

 

64,855

 

 

 

 

Government and government agency bonds

 

Short-term investments

 

 

59,458

 

 

 

 

 

 

59,458

 

 

 

 

Corporate bonds

 

Short-term investments

 

 

20,880

 

 

 

 

 

 

20,880

 

 

 

 

Total assets

 

 

 

$

183,320

 

 

$

31,553

 

 

$

151,767

 

 

$