Fair Value Measurement

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurement

Note 3. Fair Value Measurement

The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The following tables set forth the fair value of the Company’s financial assets, which consist of cash equivalents and marketable securities measured and recognized at fair value (in thousands):

		March 31, 2025
	Fair Value Hierarchy Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Financial assets included in cash and cash    equivalents:
Money market funds	Level 1	$	34,250	$	—	$	—	$	34,250
Total		$	34,250	$	—	$	—	$	34,250

		December 31, 2024
	Fair Value Hierarchy Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Financial assets included in cash and cash    equivalents:
Money market funds	Level 1	$	56,031	$	—	$	—	$	56,031
Total		$	56,031	$	—	$	—	$	56,031

The Company evaluates transfers between levels at the end of each reporting period. There were no transfers between Levels 1, 2 and 3 during the three months ended March 31, 2025 and 2024. As of March 31, 2025 and December 31, 2024, there were no financial instruments classified as Level 2 or Level 3. There have been no realized gains or losses recognized for the periods presented.

There were no investments as of March 31, 2025 and December 31, 2024, as such, no allowance for credit losses has been recognized as of March 31, 2025. During the three months ended March 31, 2025 and 2024, the Company did not recognize any impairment losses related to investments.