v3.25.1
Cash Equivalents and Short-Term Investments (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Short-Term Investments As of March 31, 2025, our cash equivalents and short-term investments were as follows:
March 31, 2025
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized Losses Less Than 12 Continuous Months
Estimated Fair Value(1)
Cash equivalents:
Money market funds$556,356 $— $— $556,356 
Total cash equivalents556,356 — — 556,356 
Short-term investments:
Corporate debt securities44,556 195 (8)44,743 
Municipal bonds20,416 53 (27)20,442 
U.S. agency bonds5,050 — (16)5,034 
Other short-term investments185 — — 185 
Total short-term investments70,207 248 (51)70,404 
Total cash equivalents and short-term investments$626,563 $248 $(51)$626,760 
(1) See Note 9, "Fair Value Measurement" for further discussion on fair values.
As of December 31, 2024, our cash equivalents and short-term investments were as follows:
December 31, 2024
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized Losses Less Than 12 Continuous Months
Estimated Fair Value(1)
Cash equivalents:
Money market funds$410,515 $— $— $410,515 
Total cash equivalents410,515 — — 410,515 
Short-term investments:
Corporate debt securities27,149 76 (20)27,205 
Municipal bonds18,402 39 (59)18,382 
U.S. agency bonds5,056 — (51)5,005 
Other short-term investments182 — — 182 
Total short-term investments50,789 115 (130)50,774 
Total cash equivalents and short-term investments$461,304 $115 $(130)$461,289 
(1) See Note 9, "Fair Value Measurement" for further discussion on fair values.
Debt Securities, Available-for-Sale Maturities
The following table outlines maturities of our available-for-sale debt securities as of March 31, 2025:
(in thousands)Amortized CostFair Value
Less than 1 year$19,958 $19,987 
1-3 years50,064 50,232 
Total$70,022 $70,219