Investments (Tables)

6 Months Ended

Jun. 30, 2025

Investments [Abstract]

Schedule of Cash, Cash Equivalents and Marketable Securities

The following tables summarize our cash equivalents and marketable securities measured at fair value on a recurring basis (in thousands):

As of June 30, 2025
	Fair Value Hierarchy	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Money market funds	Level 2	$	2,256	$	–	$	–		$	2,256	$	2,256	$	–
Time deposits	Level 2		2,080		2		–			2,082		–		2,082
Commercial paper	Level 2		14,898		5		(1	)		14,902		–		14,902
Asset backed securities	Level 2		5,494		12		–			5,506		–		5,506
Government bonds	Level 2		63,719		21		–			63,740		24,744		38,996
Corporate debt securities	Level 2		148,268		60		(26	)		148,302		–		148,302
Total		$	236,715	$	100	$	(27	)	$	236,788	$	27,000	$	209,788

As of December 31, 2024
	Fair Value Hierarchy	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Money market funds	Level 2	$	5,979	$	–	$	–		$	5,979	$	5,979	$	–
Time deposits	Level 2		6,725		12		–			6,737		–		6,737
Commercial paper	Level 2		34,850		46		(2	)		34,894		3,147		31,747
Asset backed securities	Level 2		6,905		30		–			6,935		–		6,935
Government bonds	Level 2		80,509		62		–			80,571		46,848		33,723
Corporate debt securities	Level 2		179,882		190		(42	)		180,030		–		180,030
Total		$	314,850	$	340	$	(44	)	$	315,146	$	55,974	$	259,172

Summary of Scheduled Maturity for Marketable Securities

The following table shows the fair value of the Company’s cash equivalents and marketable securities, by contractual maturity, as of June 30, 2025 (in thousands):

	June 30, 2025
Due in 1 year or less	$	228,162
Due in 1 year through 5 years		8,626
Total	$	236,788

Schedule of Investments Fair Values and Gross Unrealized Losses

The following table shows fair values and gross unrealized losses recorded to accumulated other comprehensive income, aggregated by category and the length of time that individual securities have been in a continuous loss position (in thousands):

As of June 30, 2025
	Less than 12 months					12 Months or Greater				Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Commercial paper	$	6,020	$	(1	)	$	–	$	–	$	6,020	$	(1	)
Asset backed securities		283		–			–		–		283		–
Government bonds		1,000		–			–		–		1,000		–
Corporate debt securities		48,075		(26	)		–		–		48,075		(26	)
Total	$	55,378	$	(27	)	$	–	$	–	$	55,378	$	(27	)

As of December 31, 2024
	Less than 12 months					12 Months or Greater				Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Commercial paper	$	3,869	$	(2	)	$	–	$	–	$	3,869	$	(2	)
Corporate debt securities		32,443		(42	)		–		–		32,443		(42	)
Total	$	36,312	$	(44	)	$	–	$	–	$	36,312	$	(44	)