Fair Value Measurements (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Available-for-Sale Marketable Securities Held |
Available-for-sale marketable securities held as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross Unrealized | | | | Classification on Balance Sheet | | Amortized Cost | | Gains | | Losses | | Aggregate
Fair Value | | Short-Term
Marketable
Securities | | Long-Term
Marketable
Securities | | As of March 31, 2025 | | | | | | | | | | | | Time deposits | $ | 12,152 | | | $ | — | | | $ | — | | | $ | 12,152 | | | $ | 12,152 | | | $ | — | | | | | | | | | | | | | | | Corporate bonds | 199,783 | | | 33 | | | (3) | | | 199,813 | | | 199,813 | | | — | | | | | | | | | | | | | | | $ | 211,935 | | | $ | 33 | | | $ | (3) | | | $ | 211,965 | | | $ | 211,965 | | | $ | — | | | | | | | | | | | | | | | As of December 31, 2024 | | | | | | | | | | | | | Time deposits | $ | 11,330 | | | $ | — | | | $ | — | | | $ | 11,330 | | | $ | 11,330 | | | $ | — | | | | | | | | | | | | | | | Corporate bonds | 1,003,915 | | | 1,369 | | | (307) | | | 1,004,977 | | | 808,800 | | | 196,177 | | | U.S. government agency obligations | 303,816 | | | 567 | | | (36) | | | 304,347 | | | 249,318 | | | 55,029 | | | $ | 1,319,061 | | | $ | 1,936 | | | $ | (343) | | | $ | 1,320,654 | | | $ | 1,069,448 | | | $ | 251,206 | |
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| Schedule of Fair Value Measurements within Fair Value Hierarchy |
The fair value measurements within the fair value hierarchy of the Company’s financial assets as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | Total Fair Value | | Fair Value Measurements at
Reporting Date Using | | | | Level 1 | | Level 2 | | | | As of March 31, 2025 | | | | | | | | | Cash Equivalents and Marketable Securities: | | | | | | | | | Money market funds | $ | 709,564 | | | $ | 709,564 | | | $ | — | | | | | Time deposits | 76,363 | | | — | | | 76,363 | | | | | | | | | | | | | Corporate bonds | 199,813 | | | — | | | 199,813 | | | | | | | | | | | | | Mutual funds | 25,365 | | | 25,365 | | | — | | | | | $ | 1,011,105 | | | $ | 734,929 | | | $ | 276,176 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2024 | | | | | Cash Equivalents and Marketable Securities: | | | | | | | | | Money market funds | $ | 163,722 | | | $ | 163,722 | | | $ | — | | | | | Time deposits | 64,202 | | | — | | | 64,202 | | | | | | | | | | | | | Corporate bonds | 1,004,977 | | | — | | | 1,004,977 | | | | | U.S. government agency obligations | 304,347 | | | — | | | 304,347 | | | | | Mutual funds | 26,580 | | | 26,580 | | | — | | | | | $ | 1,563,828 | | | $ | 190,302 | | | $ | 1,373,526 | | | |
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| Schedule of Contractual Maturities of Available-for-Sale Marketable Securities Held |
Contractual maturities of the Company’s available-for-sale marketable securities held as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
| | | | | | | | | | | | | March 31,
2025 | | December 31,
2024 | | Due in 1 year or less | $ | 211,965 | | | $ | 1,069,448 | | | Due after 1 year through 5 years | — | | | 251,206 | | | $ | 211,965 | | | $ | 1,320,654 | |
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