Cash, Cash Equivalents and Investments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025 and December 31, 2024 (in thousands):


			As of June 30, 2025
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value									Cash and Cash Equivalents						Marketable Securities						Short-Term Investments
Cash			$	112,410					$	—					$	—					$	112,410								$	112,410					$	—					$	—

Level 1:
Money market funds			298,128						—						—						298,128									298,128						—						—
U.S. Treasury bills			224,731						27						(17)						224,741									55,488						—						169,253
Marketable securities			90,000						54,000						—						144,000									—						144,000						—
Agency bonds			37,263						—						(24)						37,239									13,019						—						24,220
U.S. Government bonds			18,458						1						(7)						18,452									—						—						18,452
Subtotal			668,580						54,028						(48)						722,560									366,635						144,000						211,925
Level 2:
Term deposits			884,648						—						—						884,648									69,648						—						815,000
Corporate bonds			373,743						75						(133)						373,685									42,902						—						330,783
Commercial paper			136,499						—						—						136,499									23,901						—						112,598
State and municipal obligations			997						1						—						998									—						—						998
Subtotal			1,395,887						76						(133)						1,395,830									136,451						—						1,259,379
Total			$	2,176,877					$	54,104					$	(181)					$	2,230,800								$	615,496					$	144,000					$	1,471,304


			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