v3.25.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy
The following table represents the Company’s fair value hierarchy for its financial assets and liabilities (in thousands):
Fair Value at March 31, 2025Fair Value at December 31, 2024
AssetsLevel 1Level 2Level 3Level 1Level 2Level 3
Money market funds(1)
$80,373 $— $— $287,393 $— $— 
Government-backed securities(1)
— 130,000 — — 130,000 — 
Treasury securities
— 185,125 — — 184,554 — 
Corporate debt securities(2)
— 283,017 — — 243,158 — 
Total cash equivalents and marketable securities
$80,373 $598,142 $— $287,393 $557,712 $— 
Liabilities
5.00% Convertible notes due 2027
$$163,918$$$174,386$
(1)Classified as cash and cash equivalents as of March 31, 2025 and December 31, 2024, respectively, on the consolidated balance sheets.
(2)Includes $34.8 million classified as Cash and cash equivalents as of December 31, 2024, on the consolidated balance sheets.