Cash, Cash Equivalents, Restricted Cash And Investments (Tables)

6 Months Ended

Jun. 30, 2025

Cash and Cash Equivalents [Abstract]

Summary of Unrealized Gains and Losses and Estimated Fair Value of Cash Equivalents and Investments

The following table summarizes the Company’s unrealized gains and losses and estimated fair value of cash, cash equivalents, restricted cash and investments in available-for-sale securities recorded in the condensed consolidated balance sheets (in thousands):


		As of June 30, 2025																As of December 31, 2024
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value				Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Cash and money market funds		$	143,512			$	—			$	—			$	143,512			$	33,204			$	—			$	—			$	33,204
Corporate notes and bonds			3,460				7				—				3,467				45,823				22				(53	)			45,792
US government and agency			513,303				154				(238	)			513,219				287,084				319				(118	)			287,285
Total cash, cash equivalents, restricted cash and investments		$	660,275			$	161			$	(238	)		$	660,198			$	366,111			$	341			$	(171	)		$	366,281

Summary of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value


		As of June 30, 2025
		Less than 12 Months								12 Months or Longer								Total
		Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Loses
US government and agency		$	361,711			$	(236	)		$	3,984			$	(2	)		$	365,695			$	(238	)
Total		$	361,711			$	(236	)		$	3,984			$	(2	)		$	365,695			$	(238	)


		As of December 31, 2024
		Less than 12 Months								12 Months or Longer								Total
		Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Loses
Corporate notes and bonds		$	—			$	—			$	24,396			$	(53	)		$	24,396			$	(53	)
US government and agency			67,600				(111	)			3,987				(7	)			71,587				(118	)
Total		$	67,600			$	(111	)		$	28,383			$	(60	)		$	95,983			$	(171	)

Schedule of Contractual Maturity Date of Cash Cash Equivalents, Restricted Cash and Investments in Available-for-Sale Securities

The estimated fair value of the Company’s cash, cash equivalents, restricted cash and investments in available-for-sale securities as of June 30, 2025, aggregated by investment category and classified by contractual maturity date, is as follows (in thousands):


		1 Year or Less				Greater than 1 Year				Total
Cash and money market funds		$	140,582			$	2,930			$	143,512
Corporate notes and bonds			3,467				—				3,467
US government and agency			403,317				109,902				513,219
Total		$	547,366			$	112,832			$	660,198