The following table summarizes our cash equivalents and marketable securities measured at fair value and by level on a recurring basis as of June 30, 2025:


(In thousands)	Level 1		Level 2		Level 3		Total
Cash equivalents	$	37,669	$	16,282	$	—	$	53,951
Total cash equivalents	37,669		16,282		—		53,951

Marketable securities:
Certificates of deposit	$	—	$	7,511	$	—	$	7,511
U.S. Treasuries	—		264,642		—		264,642
Government securities	—		226,357		—		226,357
Corporate debt securities	—		760,023		—		760,023
Total marketable securities	—		1,258,533		—		1,258,533
Total cash equivalents and marketable securities	$	37,669	$	1,274,815	$	—	$	1,312,484