Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Contractual Maturities of Investments

The contractual maturities of investments classified as marketable securities are as follows:


	March 31, 2026		December 31, 2025
Due within 1 year	$	332,986	$	416,764
Due within 2 years	296,415		197,675
Total marketable securities	$	629,401	$	614,439

Schedule of Marketable Securities

The following table represents the amortized cost, gross unrealized gains and losses, and fair market value of the Company’s marketable securities by significant investment category in addition to their fair value level at March 31, 2026 and December 31, 2025.


	As of March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Level
Commercial paper	$	22,436	$	1	$	(19)	$	22,418	2
U.S. Treasuries	130,730		52		(229)		130,553		1
Corporate bonds	371,112		198		(1,058)		370,252		2
Money market funds measured at NAV (a)	106,178		—		—		106,178		N/A
Total marketable securities	$	630,456	$	251	$	(1,306)	$	629,401


	As of December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Level
Commercial paper	$	12,753	$	5	$	(1)	$	12,757	2
U.S. Treasuries	107,090		153		(31)		107,212		1
Corporate bonds	304,964		796		(60)		305,700		2
Money market funds measured at NAV (a)	188,770		—		—		188,770		N/A
Total marketable securities	$	613,577	$	954	$	(92)	$	614,439

(a)Money market funds that were measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the condensed consolidated balance sheets.