Marketable Securities and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Debt Securities [Abstract]

Summary of Marketable Securities

The following table summarizes the Company’s marketable securities (in thousands):

	December 31, 2024								December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities:
Corporate debt securities	$	110,820	$	91	$	(204)	$	110,707	$	234,821	$	180	$	(1,604)	$	233,397
U.S. Treasury notes	101,059		184		(213)		101,030		138,329		261		(1,206)		137,384
Other	—		—		—		—		10,000		—		(8)		9,992
	$	211,879	$	275	$	(417)	$	211,737	$	383,150	$	441	$	(2,818)	$	380,773

The following table summarizes the Company’s marketable securities maturity as of December 31, 2024 (in thousands):

Year	Amortized Cost		Fair Value
2025	$	157,504	$	157,208
2026	54,375		54,529
	$	211,879	$	211,737

Summary of Marketable Securities, Unrealized Loss Position

The following table summarizes the Company’s marketable securities with gross unrealized losses by security type aggregated by the length of time the investments have been in a continuous unrealized loss position as of December 31, 2024 (in thousands):

	Less Than 12 Months				12 Months or Greater
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Marketable securities:
Corporate debt securities	$	—	$	—	$	73,128	$	204
U.S. Treasury notes	25,295		104		38,787		109
	$	25,295	$	104	$	111,915	$	313

The following table summarizes the Company’s marketable securities with gross unrealized losses by security type aggregated by the length of time the investments have been in a continuous unrealized loss position as of December 31, 2023 (in thousands):

	Less Than 12 Months				12 Months or Greater
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Marketable securities:
Corporate debt securities	$	55,343	$	167	$	126,189	$	1,437
U.S. Treasury notes	37,486		303		75,980		903
Other	9,992		8		—		—
	$	102,821	$	478	$	202,169	$	2,340

Summary of Fair Value Assets Measured on Recurring Basis

The table below summarizes the Company’s financial instruments measured at fair value on a recurring basis (in thousands):

	December 31, 2024						December 31, 2023
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Marketable securities:
Corporate debt securities	$	—	$	110,707	$	—	$	—	$	233,397	$	—
U.S. Treasury notes	101,030		—		—		137,384		—		—
Other	—		—		—		9,992		—		—
	$	101,030	$	110,707	$	—	$	147,376	$	233,397	$	—