
	March 31, 2026
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	359,980	$	—	$	—	$	359,980
U.S. treasury securities	50,133		—		(2)		50,131
U.S. government agency securities	17,421		—		(1)		17,420
Commercial paper	10,242		—		—		10,242
Fixed deposits	39,578		—		—		39,578
Total cash equivalents	477,354		—		(3)		477,351
Debt securities:
U.S. treasury securities	96,273		11		(18)		96,266
U.S. government agency securities	17,389		4		(9)		17,384
Corporate debt securities	25,977		4		(13)		25,968
Commercial paper	5,274		—		—		5,274
Certificates of deposit	86,177		—		—		86,177
Total debt securities	231,090		19		(40)		231,069
Total cash equivalents and debt securities	$	708,444	$	19	$	(43)	$	708,420


	December 31, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	120,923	$	—	$	—	$	120,923
U.S. treasury securities	100,235		16		—		100,251
U.S. government agency securities	26,168		3		(1)		26,170
Corporate debt securities	47,466		—		—		47,466
Fixed deposits	129,875		—		—		129,875
Total cash equivalents	424,667		19		(1)		424,685
Debt securities:
U.S. treasury securities	131,286		102		(9)		131,379
U.S. government agency securities	30,868		40		—		30,908
Corporate debt securities	36,878		69		(6)		36,941
Commercial paper	12,369		—		—		12,369

Total debt securities	211,401		211		(15)		211,597
Total cash equivalents and debt securities	$	636,068	$	230	$	(16)	$	636,282

The following table presents gross unrealized losses and fair values for the securities that were in a continuous unrealized loss position as of the periods presented below (in thousands):


	March 31, 2026
	Less than 12 months				Greater than 12 months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. treasury securities	$	69,813	$	(18)	$	—	$	—	$	69,813	$	(18)
U.S. government agency securities	8,715		(9)		—		—		8,715		(9)
Corporate debt securities	20,957		(13)		—		—		20,957		(13)
Total	$	99,485	$	(40)	$	—	$	—	$	99,485	$	(40)


	December 31, 2025
	Less Than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. treasury securities	$	21,500	$	(9)	$	—	$	—	$	21,500	$	(9)

Corporate debt securities	7,495		(6)		—		—		7,495		(6)
Total	$	28,995	$	(15)	$	—	$	—	$	28,995	$	(15)

The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):


	March 31, 2026
	Amortized Cost		Fair Value
Due within one year	$	214,598	$	214,596
Due after one year but within five years	16,492		16,473
Total	$	231,090	$	231,069

Accrued interest receivable of $1.1 million and $1.5 million was classified in prepaid expenses and other current assets in the condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025, respectively.