| Schedule of Debt Securities, Available-for-Sale |
The following table summarizes the amortized cost, unrealized gains and losses, and fair value of the Company’s available-for-sale investments, including those securities classified within “Cash and cash equivalents” in the condensed consolidated balance sheets (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | U.S. treasury securities | $ | 107,564 | | | $ | 261 | | | $ | (6) | | | $ | 107,819 | | | Corporate debt securities | 26,018 | | | 92 | | | (4) | | | 26,106 | | | Commercial paper | 5,307 | | | 1 | | | (1) | | | 5,307 | | | U.S. government agency securities | 15,440 | | | 5 | | | (3) | | | 15,442 | | | Total | $ | 154,329 | | | $ | 359 | | | $ | (14) | | | $ | 154,674 | |
| | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | U.S. treasury securities | $ | 108,045 | | | $ | 223 | | | $ | (12) | | | $ | 108,256 | | | Corporate debt securities | 22,457 | | | 71 | | | (14) | | | 22,514 | | | Commercial paper | 7,778 | | | 2 | | | (1) | | | 7,779 | | | U.S. government agency securities | 12,744 | | | 2 | | | (3) | | | 12,743 | | | Total | $ | 151,024 | | | $ | 298 | | | $ | (30) | | | $ | 151,292 | |
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| Schedule of Investments Classified by Contractual Maturity Date |
As of December 31, 2025, the fair values of available-for-sale investments, excluding those securities classified within “Cash and cash equivalents” in the condensed consolidated balance sheets, are as follows by remaining contractual maturity (in thousands): | | | | | | | December 31, 2025 | | Due within one year | $ | 96,780 | | | Due in one year through five years | 56,400 | | | Total | $ | 153,180 | |
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| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The following tables present the Company’s financial assets that have been measured at fair value on a recurring basis as of December 31, 2025 and March 31, 2025 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Cash equivalents: | | | | | | | | | Money market funds | $ | 707,963 | | | $ | — | | | $ | — | | | $ | 707,963 | | | | | | | | | | | Commercial paper | — | | | 500 | | | — | | | 500 | | | U.S. government agency securities | — | | | 994 | | | — | | | 994 | | | Investments: | | | | | | | | | Mutual funds | 1,891 | | | — | | | — | | | 1,891 | | | U.S. treasury securities | — | | | 107,819 | | | — | | | 107,819 | | | Corporate debt securities | — | | | 26,106 | | | — | | | 26,106 | | | Commercial paper | — | | | 4,807 | | | — | | | 4,807 | | | U.S. government agency securities | — | | | 14,448 | | | — | | | 14,448 | | | Total financial assets | $ | 709,854 | | | $ | 154,674 | | | $ | — | | | $ | 864,528 | |
| | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Cash equivalents: | | | | | | | | | Money market funds | $ | 679,675 | | | $ | — | | | $ | — | | | $ | 679,675 | | | U.S. treasury securities | — | | | 1,577 | | | — | | | 1,577 | | | Commercial paper | — | | | 1,596 | | | — | | | 1,596 | | | U.S. government agency securities | — | | | 996 | | | — | | | 996 | | | Investments: | | | | | | | | | Mutual funds | 714 | | | — | | | — | | | 714 | | | U.S. treasury securities | — | | | 106,679 | | | — | | | 106,679 | | | Corporate debt securities | — | | | 22,514 | | | — | | | 22,514 | | | Commercial paper | — | | | 6,183 | | | — | | | 6,183 | | | U.S. government agency securities | — | | | 11,747 | | | — | | | 11,747 | | | Total financial assets | $ | 680,389 | | | $ | 151,292 | | | $ | — | | | $ | 831,681 | |
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