Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 31, 2025

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents, Marketable Securities, and Available-for-Sale Investments

The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale debt investments at March 31, 2025 and December 31, 2024 (in thousands):


			As of March 31, 2025
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value									Cash and Cash Equivalents						Marketable Securities						Short-Term Investments
Cash			$	95,886					$	—					$	—					$	95,886								$	95,886					$	—					$	—

Level 1:
Money market funds			558,249						—						—						558,249									558,249						—						—
U.S. Treasury bills			205,498						23						(9)						205,512									82,350						—						123,162
Marketable securities			90,000						84,870						—						174,870									—						174,870						—
Agency bonds			86,477						—						(21)						86,456									69,401						—						17,055
U.S. Government bonds			18,434						1						(3)						18,432									—						—						18,432
Subtotal			958,658						84,894						(33)						1,043,519									710,000						174,870						158,649
Level 2:
Term deposits			742,415						—						—						742,415									157,415						—						585,000
Corporate bonds			346,150						32						(173)						346,009									88,066						—						257,943
Commercial paper			139,209						—						—						139,209									41,571						—						97,638
Subtotal			1,227,774						32						(173)						1,227,633									287,052						—						940,581
Total			$	2,282,318					$	84,926					$	(206)					$	2,367,038								$	1,092,938					$	174,870					$	1,099,230


			As of December 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value									Cash and Cash Equivalents						Marketable Securities						Short-Term Investments
Cash			$	94,919					$	—					$	—					$	94,919								$	94,919					$	—					$	—

Level 1:
Money market funds			322,874						—						—						322,874									322,874						—						—
Marketable securities			90,000						108,270						—						198,270									—						198,270						—
U.S. Government bonds			75,994						7						(5)						75,996									—						—						75,996
U.S. Treasury bills			14,431						25						—						14,456									—						—						14,456
Agency bonds			996						—						—						996									—						—						996
Subtotal			504,295						108,302						(5)						612,592									322,874						198,270						91,448
Level 2:
Term deposits			136,480						—						—						136,480									11,480						—						125,000
Corporate bonds			122,018						10						(63)						121,965									24,075						—						97,890
Commercial paper			20,393						—						—						20,393									1,496						—						18,897
Subtotal			278,891						10						(63)						278,838									37,051						—						241,787
Total			$	878,105					$	108,312					$	(68)					$	986,349								$	454,844					$	198,270					$	333,235