v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables summarize the Company’s assets and liabilities that are measured at fair value on a recurring basis:

March 31, 2026Basis of fair value measurement
(in thousands)Level 1Level 2Level 3
Assets
Cash and cash equivalents:
Cash$45,442 $45,442 $— $— 
Money market funds609,031 609,031 — — 
Restricted cash10,707 10,707 — — 
Total
$665,180 $665,180 $— $— 

December 31, 2025Basis of fair value measurement
(in thousands)Level 1Level 2Level 3
Assets
Cash and cash equivalents:
Cash$72,627 $72,627 $— $— 
Money market funds670,667 670,667 — — 
Restricted cash10,627 10,627 — — 
Total
$753,921 $753,921 $— $— 
Schedule of Financial Instruments Not Measured at Fair Value
The following tables summarize the Company’s financial instruments that are not measured at fair value:

Book valuesFair values
(in thousands)March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Liabilities
Notes payable and financing lease liabilities, current$9,265 $9,091 $9,265 $9,091 
Notes payable and financing lease liabilities, non-current7,181 9,564 7,181 9,564 
Total liabilities$16,446 $18,655 $16,446 $18,655