v3.25.2
Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2025
Marketable Securities [Abstract]  
Summary of Marketable Securities by Security

The following tables provide the amortized cost and fair value of the Company’s available-for-sale securities by security type (in thousands):

 

 

June 30, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

85,483

 

 

$

1

 

 

$

(48

)

 

$

85,436

 

Corporate bonds

 

 

569,154

 

 

 

1,435

 

 

 

(197

)

 

 

570,392

 

Government and agency securities

 

 

185,491

 

 

 

221

 

 

 

(48

)

 

 

185,664

 

U.S. treasury bills

 

 

36,637

 

 

 

2

 

 

 

(3

)

 

 

36,636

 

 

$

876,765

 

 

$

1,659

 

 

$

(296

)

 

$

878,128

 

 

 

 

December 31, 2024

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

251,473

 

 

$

12

 

 

$

(176

)

 

$

251,309

 

Corporate bonds

 

 

468,673

 

 

 

532

 

 

 

(588

)

 

 

468,617

 

Government and agency securities

 

 

162,783

 

 

 

132

 

 

 

(29

)

 

 

162,886

 

U.S. treasury bills

 

 

89,741

 

 

 

60

 

 

 

(2

)

 

 

89,799

 

 

$

972,670

 

 

$

736

 

 

$

(795

)

 

$

972,611

 

Summary of Contractual Maturities of Available-for-sale Debt Securities

The following table summarizes the amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity (in thousands):

 

June 30, 2025

 

 

 

Amortized Cost

 

 

Fair Value

 

Due within one year

 

$

493,990

 

 

$

494,137

 

Due after one year through three years

 

 

382,775

 

 

 

383,991

 

 

$

876,765

 

 

$

878,128