Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Fair Value, Assets Measured on Recurring Basis

The following table presents information about the Company’s financial assets measured at fair value on a recurring basis based on the fair value hierarchy as follows (in thousands):


	As of December 31, 2025
	Level 1		Level 2		Total Fair Value
Cash equivalents
Money market funds	$	142,772	$	—	$	142,772


Commercial paper	—		5,495		5,495
Total cash equivalents	$	142,772	$	5,495	$	148,267
Marketable securities
U.S. treasury and agency securities	$	—	$	203,794	$	203,794
Commercial paper	—		11,462		11,462
Corporate debt securities	—		805,949		805,949


Total marketable securities	$	—	$	1,021,205	$	1,021,205


	As of December 31, 2024
	Level 1		Level 2		Total Fair Value
Cash equivalents
Money market funds	$	59,595	$	—	$	59,595



Marketable securities
U.S. treasury and agency securities	$	—	$	202,469	$	202,469
Commercial paper	—		103,233		103,233
Corporate debt securities	—		512,925		512,925

Asset-backed securities	—		16,123		16,123
Total marketable securities	$	—	$	834,750	$	834,750

Astera Labs, Inc. 10-K