Cash Equivalents and Marketable Securities

6 Months Ended

Jun. 30, 2026

Cash and Cash Equivalents [Abstract]

Cash Equivalents and Marketable Securities

4. Cash Equivalents and Marketable Securities

The following tables summarize the amortized cost and fair value of the Company’s cash equivalents and marketable securities by major category for the periods presented (in thousands):

	June 30, 2026
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	32,527	$	—	$	—	$	32,527
U.S. Treasury securities	9,978		—		—		9,978
Total cash equivalents	$	42,505	$	—	$	—	$	42,505
Marketable securities:
U.S. Treasury securities	$	104,424	$	—	$	(118)	$	104,306
Total marketable securities	$	104,424	$	—	$	(118)	$	104,306

	December 31, 2025
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	33,320	$	—	$	—	$	33,320
Total cash equivalents	$	33,320	$	—	$	—	$	33,320
Marketable securities:
U.S. Treasury securities	$	69,886	$	22	$	—	$	69,908
Total marketable securities	$	69,886	$	22	$	—	$	69,908

For the three and six months ended June 30, 2026, interest income was $1.2 million and $2.1 million, respectively, and was included within interest income and other, net in the condensed consolidated statements of operations and comprehensive (loss) income. Interest income for the three and six months ended June 30, 2025 was not material.