The following table represents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of the periods presented below (in thousands):


	March 31, 2026
	Fair Value Measured Using
	Level 1		Level 2		Total
Financial assets:
Cash equivalents:
Money market funds	$	359,980	$	—	$	359,980
U.S. treasury securities	50,131		—		50,131
U.S. government agency securities	—		17,420		17,420
Corporate debt securities	—		10,242		10,242
Short term fixed deposits	—		39,578		39,578
Marketable securities:
U.S. treasury securities	96,266		—		96,266
U.S. government agency securities	—		17,384		17,384
Corporate debt securities	—		25,968		25,968
Commercial paper	—		5,274		5,274
Certificates of deposit	—		86,177		86,177
Total financial assets	$	506,377	$	202,043	$	708,420


	December 31, 2025
	Fair Value Measured Using
	Level 1		Level 2		Total
Financial assets:
Cash equivalents:
Money market funds	$	120,923	$	—	$	120,923
U.S. treasury securities	100,251		—		100,251
U.S. government agency securities	—		26,170		26,170
Commercial paper	—		47,466		47,466
Fixed deposits	—		129,875		129,875

Marketable securities:
U.S. treasury securities	131,379		—		131,379
U.S. government agency securities	—		30,908		30,908
Corporate debt securities	—		36,941		36,941
Commercial paper	—		12,369		12,369

Total financial assets	$	352,553	$	283,729	$	636,282