v3.25.2
Cash, Cash Equivalents, and Marketable Securities
 3 Months Ended
Jun. 30, 2025
Cash, Cash Equivalents, and Marketable Securities [Abstract]  
Cash, Cash Equivalents, and Marketable Securities
Note 3—Cash, Cash Equivalents and Marketable Securities
 
Cash, cash equivalents, and marketable securities consisted of the following (in thousands):
 
   
June 30, 2025
    
March 31, 2025
  
Cash and cash equivalents
            
Cash
  
$
94,787
    
$
93,954
  
Money market funds
    
1,143,672
      
2,621,457
  
Total cash and cash equivalents
  
$
1,238,459
    
$
2,715,411
  
Marketable securities
                
U.S. Treasury securities, available-for-sale
  
$
1,803,035
    
$
—
  
U.S. Treasury securities, held-to-maturity
    
1,461,657
      
2,171,480
  
Total marketable securities
  
$
3,264,692
    
$
2,171,480
  
                 
Total cash, cash equivalents, and marketable securities
  
$
4,503,151
    
$
4,886,891
  

The following table summarizes the unrealized positions for the Company’s marketable securities (in thousands):

   
As of June 30, 2025
  
   
Amortized Cost
    
Gross Unrealized
Gains
    
Gross Unrealized
Losses
    
Fair Value
  
U.S. Treasury securities, available-for-sale
  
$
1,802,565
    
$
654
    
$
(184
)
  
$
1,803,035
  
U.S. Treasury securities, held-to-maturity
    
1,461,657
      
211
      
(603
)
    
1,461,265
  
Total marketable securities
  
$
3,264,222
    
$
865
    
$
(787
)
  
$
3,264,300
  

The Company classified its marketable securities as Level 2 measurements within the fair value hierarchy.  As of June 30, 2025, the contractual maturities of all marketable securities were less than 12 months.