We are exposed to market risk in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position because of adverse changes in financial market prices and rates. Our market risk exposure is primarily a result of exposure resulting from potential changes in interest rates or exchange rates. Interest Rate Risk As of June 30, 2026, we had $286.2 million in cash and cash equivalents and $187.9 million of marketable securities. Our cash, cash equivalents, and marketable securities consist of cash held in readily available checking, money market accounts, U.S. treasury securities, investment-grade corporate bonds, government agency securities, and commercial paper. As of June 30, 2026, we did not hold any financial instruments for trading or speculative purposes. Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S. interest rates. The effect of a hypothetical 10% change in interest rates would have a $0.8 million impact on our unaudited condensed consolidated statement of operations for the six months ended June 30, 2026. Foreign Currency We have employees and contract with vendors in foreign countries, primarily in India and Canada. We are therefore subject to fluctuations in foreign currency rates in connection with these agreements. Given our exposure to these fluctuations is only applicable to a small portion of our expenses, we do not hedge our foreign currency exchange rate risk, but we may do so in the future if our exposure to foreign currency becomes more significant. We report gains and losses from foreign currency transactions in other income in the statement of operations. The impact of foreign currency costs on our operations has been immaterial for all periods presented, but we may experience material foreign exchange gains or losses in the future. As of June 30, 2026, a 10% increase or decrease in current exchange rates would not have a material impact on our unaudited condensed consolidated financial statements.