The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories:


	As of June 30, 2025
	Level 1		Level 2		Level 3		Total
	(in thousands)
Description:
Assets:
U.S. government agencies	$	338,422	$	—	$	—	$	338,422
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets)	—		3,442		—		3,442
Total assets	$	338,422	$	3,442	$	—	$	341,864
Liabilities:
Contingent consideration (other current liabilities and other long-term liabilities)	—		—		12,789		12,789

Total liabilities	$	—	$	—	$	12,789	$	12,789


	As of December 31, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Description:
Assets:
U.S. government agencies	$	224,299	$	—	$	—	$	224,299


Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets and other assets)	—		96		—		96
Total assets	$	224,299	$	96	$	—	$	224,395
Liabilities:
Contingent consideration (other current liabilities and other long-term liabilities)	$	—	$	—	$	12,422	$	12,422
Foreign currency forward contracts designated as cash flow hedges (other current liabilities)	—		1,415		—		1,415
Total liabilities	$	—	$	1,415	$	12,422	$	13,837