v3.25.3
Marketable Securities (Tables)
9 Months Ended
Sep. 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):

 

 

September 30, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

79,716

 

 

$

15

 

 

$

(11

)

 

$

79,720

 

Corporate bonds

 

 

579,723

 

 

 

2,136

 

 

 

(60

)

 

 

581,799

 

Government and agency securities

 

 

143,688

 

 

 

313

 

 

 

(27

)

 

 

143,974

 

U.S. treasury bills

 

 

21,854

 

 

 

4

 

 

 

 

 

 

21,858

 

 

$

824,981

 

 

$

2,468

 

 

$

(98

)

 

$

827,351

 

 

 

 

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):

 

September 30, 2025

 

 

 

Amortized Cost

 

 

Fair Value

 

Due within one year

 

$

470,097

 

 

$

470,767

 

Due after one year through three years

 

 

354,884

 

 

 

356,584

 

 

$

824,981

 

 

$

827,351