| Schedule of Cash Equivalents and Available-For-Sale Debt Securities |
Cash equivalents and available-for-sale debt securities consisted of the following as of the periods presented below (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | Cash equivalents: | | | | | | | | | Money market funds | $ | 308,108 | | | $ | — | | | $ | — | | | $ | 308,108 | | | U.S. treasury securities | 46,104 | | | — | | | (1) | | | 46,103 | | | U.S. government agency securities | 11,738 | | | — | | | (1) | | | 11,737 | | Commercial paper | 52,980 | | | — | | | — | | | 52,980 | | | Total cash equivalents | 418,930 | | | — | | | (2) | | | 418,928 | | | Debt securities: | | | | | | | | | U.S. treasury securities | 192,126 | | | 220 | | | (47) | | | 192,299 | | | U.S. government agency securities | 102,914 | | | 61 | | | (28) | | | 102,947 | | | Corporate debt securities | 47,228 | | | 57 | | | (24) | | | 47,261 | | Commercial paper | 8,169 | | | — | | | — | | | 8,169 | | Certificates of deposit | 89,550 | | | — | | | — | | | 89,550 | | | Total debt securities | 439,987 | | | 338 | | | (99) | | | 440,226 | | | Total cash equivalents and debt securities | $ | 858,917 | | | $ | 338 | | | $ | (101) | | | $ | 859,154 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | Cash equivalents: | | | | | | | | | Money market funds | $ | 507,655 | | | $ | — | | | $ | — | | | $ | 507,655 | | | | | | | | | | | | | | | | | | | | | | | | | | | Total cash equivalents | 507,655 | | | — | | | — | | | 507,655 | | | Debt securities: | | | | | | | | | U.S. treasury securities | 215,773 | | | 612 | | | (17) | | | 216,368 | | | U.S. government agency securities | 144,474 | | | 321 | | | (12) | | | 144,783 | | | Corporate debt securities | 45,682 | | | 101 | | | (21) | | | 45,762 | | Commercial paper | 16,388 | | | — | | | — | | | 16,388 | | Certificates of deposit | 26,449 | | | — | | | — | | | 26,449 | | | Total debt securities | 448,766 | | | 1,034 | | | (50) | | | 449,750 | | | Total cash equivalents and debt securities | $ | 956,421 | | | $ | 1,034 | | | $ | (50) | | | $ | 957,405 | |
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| Schedule of Available-For-Sale, Unrealized Loss Position, Fair Value |
The following table presents gross unrealized losses and fair values for the securities that were in a continuous unrealized loss position as of the periods presented below (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Less than 12 months | | Greater than 12 months | | Total | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | U.S. treasury securities | $ | 80,632 | | | $ | (47) | | | $ | — | | | $ | — | | | $ | 80,632 | | | $ | (47) | | | U.S. government agency securities | 42,306 | | | (28) | | | — | | | — | | | 42,306 | | | (28) | | | Corporate debt securities | 24,361 | | | (24) | | | — | | | — | | | 24,361 | | | (24) | | | Total | $ | 147,299 | | | $ | (99) | | | $ | — | | | $ | — | | | $ | 147,299 | | | $ | (99) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Less Than 12 Months | | 12 Months or Greater | | Total | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | U.S. treasury securities | $ | 13,819 | | | $ | (16) | | | $ | 4,993 | | | $ | (1) | | | $ | 18,812 | | | $ | (17) | | | U.S. government agency securities | 8,197 | | | (7) | | | 9,995 | | | (5) | | | 18,192 | | | (12) | | | Corporate debt securities | 7,998 | | | (19) | | | 5,982 | | | (2) | | | 13,980 | | | (21) | | | Total | $ | 30,014 | | | $ | (42) | | | $ | 20,970 | | | $ | (8) | | | $ | 50,984 | | | $ | (50) | |
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| Schedule of Amortized Costs and Fair Value of Debt Securities Based on Contractual Maturities |
The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands): | | | | | | | | | | | | | | | | | June 30, 2025 | | | | Amortized Cost | | Fair Value | | | | | | Due within one year | $ | 387,115 | | | $ | 387,382 | | | | | | | Due after one year but within five years | 52,872 | | | 52,844 | | | | | | | Total | $ | 439,987 | | | $ | 440,226 | | | | | |
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