Investments

9 Months Ended

Sep. 30, 2025

Investments [Abstract]

Investments

Investments

The following tables summarize the Company’s investments in available-for-sale securities by significant investment category reported as short-term as of September 30, 2025 (in thousands):

	September 30, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
U.S. Treasury	$	133,206	$	89	$	(5)	$	133,290
Corporate bonds	21,333		22		—		21,355
Commercial paper	13,809		—		—		13,809
Total available-for-sale investments	$	168,348	$	111	$	(5)	$	168,454

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at September 30, 2025 (in thousands):

	September 30, 2025
	Amortized Cost		Fair Value
Mature in less than one year	$	168,348	$	168,454
Total	$	168,348	$	168,454

The following tables summarize the Company’s investments in available-for-sale securities by significant investment category reported as short-term as of December 31, 2024 (in thousands):

	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Loss		Estimated Fair Value
U.S. Treasury	$	161,401	$	88	$	(12)	$	161,477
Corporate bonds	1,976		1		—		1,977
Commercial paper	15,684		11		(4)		15,691
Total available-for-sale investments	$	179,061	$	100	$	(16)	$	179,145

The following table summarizes the contractual maturities of the Company’s available-for-sale securities at December 31, 2024 (in thousands):

	December 31, 2024
	Amortized Cost		Fair Value
Mature in less than one year	$	179,061	$	179,145
Total	$	179,061	$	179,145