| Summary of Fair Value and Amortized Cost of Cash Equivalents and Available-for-sale Investments by Major Security Type |
The fair value and amortized cost of cash equivalents and available-for-sale investments by major security type are presented in the following table (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | | Amortized
Cost | | Unrealized
Gain | | Unrealized
Loss | | Estimated
Fair
Value | | Cash equivalents and investments: | | | | | | | | | Money market funds | $ | 182,259 | | | $ | — | | | $ | — | | | $ | 182,259 | | | U.S. treasury bills | 4,980 | | | 1 | | | — | | | 4,981 | | | Corporate debt securities | 54,422 | | | 43 | | | (8) | | | 54,457 | | | U.S. government bonds | 24,849 | | | 69 | | | — | | | 24,918 | | | Commercial paper | 2,407 | | | 1 | | | — | | | 2,408 | | | Total cash equivalents and investments | $ | 268,917 | | | $ | 114 | | | $ | (8) | | | $ | 269,023 | | | Classified as: | | | | | | | | | Cash equivalents | | | | | | | $ | 182,259 | | | Short-term investments | | | | | | | 65,852 | | | Long-term investments | | | | | | | 20,912 | | | Total cash equivalents and investments | | | | | | | $ | 269,023 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | Amortized
Cost | | Unrealized
Gain | | Unrealized
Loss | | Estimated
Fair
Value | | Cash equivalents: | | | | | | | | | Money market funds | $ | 202,965 | | | $ | — | | | $ | — | | | $ | 202,965 | | | U.S. treasury bills | $ | 2,957 | | | $ | 7 | | | $ | — | | | $ | 2,964 | | | Corporate debt securities | $ | 37,942 | | | $ | 50 | | | $ | (14) | | | $ | 37,978 | | | U.S. government bonds | $ | 26,819 | | | $ | 90 | | | $ | (5) | | | $ | 26,904 | | | Agency bonds | $ | 2,490 | | | $ | 2 | | | $ | — | | | $ | 2,492 | | | Total cash equivalents and investments | $ | 273,173 | | | $ | 149 | | | $ | (19) | | | $ | 273,303 | | | Classified as: | | | | | | | | | Cash equivalents | | | | | | | $ | 202,965 | | | Short-term investments | | | | | | | 57,812 | | | Long-term investments | | | | | | | 12,526 | | | Total cash equivalents and investments | | | | | | | $ | 273,303 | |
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| Summary of Remaining Contractual Maturities of Available-for-sale Debt Securities |
As of March 31, 2025, the remaining contractual maturities of available-for-sale debt securities were as follows (in thousands): | | | | | | | Estimated Fair Value | | Due within one year | $ | 65,852 | | | One to two years | 20,912 | | | Total | $ | 86,764 | |
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