v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy
The following table represents the Company’s fair value hierarchy for its financial assets and liabilities (in thousands):
Fair Value at March 31, 2026Fair Value at December 31, 2025
AssetsLevel 1Level 2Level 3Level 1Level 2Level 3
Money market funds(1)
$112,862 $— $— $128,152 $— $— 
Government-backed securities(1)
— 90,000 — — 90,000 — 
Treasury securities
— 232,692 — 220,299 — 
Corporate debt securities(2)
— 311,652 — — 260,154 — 
Agency securities32,548 $— —13,997 —
Total cash equivalents and marketable securities
$112,862 $666,892 $— $128,152 $584,450 $— 
Liabilities
5.00% Convertible notes due 2027(3)
$— $29,351 $— $— $28,313 $— 
4.625% Convertible notes due 2031(3)
$— $249,714 $— $— $221,967 $— 
Total convertible notes payable$— $279,065 $— $— $250,280 $— 
    
(1)Classified as cash and cash equivalents as of March 31, 2026 and December 31, 2025, respectively, on the consolidated balance sheets.
(2)Includes $14.9 million classified as Cash and cash equivalents as of March 31, 2026, on the consolidated balance sheets.
(3)Classified as Long-term debt as of March 31, 2026 and December 31, 2025, respectively, on the consolidated balance sheets.