| Schedule of financial assets measured at fair value on a recurring basis |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | JUNE 30, | | DECEMBER 31, | | | | 2025 | | 2024 | | | | LEVEL 1 | | LEVEL 2 | | LEVEL 3 | | TOTAL | | LEVEL 1 | | LEVEL 2 | | LEVEL 3 | | TOTAL | | Money market funds | | $ | 139,062 | | $ | — | | $ | — | | $ | 139,062 | | $ | 161,328 | | $ | — | | $ | — | | $ | 161,328 | | U.S. government bonds | | | 253,737 | | | — | | | — | | | 253,737 | | | 263,015 | | | — | | | — | | | 263,015 | | U.S. government agency bonds | | | — | | | 37,580 | | | — | | | 37,580 | | | — | | | 46,957 | | | — | | | 46,957 | | Corporate debt securities | | | — | | | 348,155 | | | — | | | 348,155 | | | — | | | 404,036 | | | — | | | 404,036 | | Total fair value of financial assets | | $ | 392,799 | | $ | 385,735 | | $ | — | | $ | 778,534 | | $ | 424,343 | | $ | 450,993 | | $ | — | | $ | 875,336 | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | JUNE 30, | | DECEMBER 31, | | | | 2025 | | 2024 | | | | | AMORTIZED | | GROSS UNREALIZED | | FAIR | | | AMORTIZED | | GROSS UNREALIZED | | FAIR | | | | COST | | LOSSES | | GAINS | | VALUE | | COST | | LOSSES | | GAINS | | VALUE | | Money market funds | | $ | 139,062 | | $ | — | | $ | — | | $ | 139,062 | | $ | 161,328 | | $ | — | | $ | — | | $ | 161,328 | | U.S. government bonds | | | 253,319 | | | (20) | | | 438 | | | 253,737 | | | 262,316 | | | (48) | | | 747 | | | 263,015 | | U.S. government agency bonds | | | 37,565 | | | (1) | | | 16 | | | 37,580 | | | 46,890 | | | (11) | | | 78 | | | 46,957 | | Corporate debt securities | | | 348,226 | | | (163) | | | 92 | | | 348,155 | | | 403,888 | | | (368) | | | 516 | | | 404,036 | | Total fair value of financial assets | | $ | 778,172 | | $ | (184) | | $ | 546 | | $ | 778,534 | | $ | 874,422 | | $ | (427) | | $ | 1,341 | | $ | 875,336 | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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