XML 24 R15.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value Measurements
3 Months Ended
Mar. 31, 2025
Fair Value Measurements  
Fair Value Measurements
4.
Fair Value Measurements

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a reoccurring basis and indicates the level of fair value hierarchy utilized to determine such values (in thousands):

 

 

AS OF MARCH 31, 2025

 

 

LEVEL 1

 

 

LEVEL 2

 

 

LEVEL 3

 

 

TOTAL

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

94,226

 

 

$

—

 

 

$

—

 

 

$

94,226

 

U.S. treasury securities

 

 

1,404

 

 

 

—

 

 

 

—

 

 

 

1,404

 

Corporate debt securities

 

 

—

 

 

 

1,076

 

 

 

—

 

 

 

1,076

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury securities

 

 

257,179

 

 

 

—

 

 

 

—

 

 

 

257,179

 

Debt securities issued by U.S. government agencies

 

 

—

 

 

 

164,264

 

 

 

—

 

 

 

164,264

 

Commercial paper

 

 

—

 

 

 

34,182

 

 

 

—

 

 

 

34,182

 

Corporate debt securities

 

 

—

 

 

 

118,894

 

 

 

—

 

 

 

118,894

 

Total

 

$

352,809

 

 

$

318,416

 

 

$

—

 

 

$

671,225

 

 

 

AS OF DECEMBER 31, 2024

 

 

LEVEL 1

 

 

LEVEL 2

 

 

LEVEL 3

 

 

TOTAL

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

132,491

 

 

$

—

 

 

$

—

 

 

 

132,491

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury securities

 

 

248,935

 

 

 

—

 

 

 

—

 

 

 

248,935

 

Debt securities issued by U.S. government agencies

 

 

—

 

 

 

218,696

 

 

 

—

 

 

 

218,696

 

Commercial paper

 

 

—

 

 

 

35,557

 

 

 

—

 

 

 

35,557

 

Corporate debt securities

 

 

—

 

 

 

86,092

 

 

 

—

 

 

 

86,092

 

Total

 

$

381,426

 

 

$

340,345

 

 

$

—

 

 

$

721,771