| Schedule of Company's investing portfolio |
The following is a summary of the Company’s investing portfolio (in thousands):
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AS OF MARCH 31, 2026 |
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UNREALIZED |
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COST |
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GAINS |
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LOSSES |
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FAIR VALUE |
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Marketable securities: |
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Maturities within one year: |
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U.S. treasury securities |
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$ |
274,711 |
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$ |
133 |
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$ |
(104 |
) |
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$ |
274,740 |
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Debt securities issued by U.S. government agencies |
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107,724 |
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92 |
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(26 |
) |
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107,790 |
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Commercial paper |
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19,288 |
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— |
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(6 |
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19,282 |
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Corporate debt securities |
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206,461 |
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31 |
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(216 |
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206,276 |
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Total maturities within one year |
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608,184 |
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256 |
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(352 |
) |
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608,088 |
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Maturities between one and two years: |
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U.S. treasury securities |
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$ |
155,403 |
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$ |
12 |
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$ |
(528 |
) |
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$ |
154,887 |
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Debt securities issued by U.S. government agencies |
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8,557 |
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— |
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(21 |
) |
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8,536 |
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Corporate debt securities |
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35,047 |
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3 |
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(119 |
) |
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|
34,931 |
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Total maturities between one and two years |
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199,007 |
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15 |
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(668 |
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198,354 |
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Total marketable securities |
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$ |
807,191 |
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$ |
271 |
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$ |
(1,020 |
) |
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$ |
806,442 |
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AS OF DECEMBER 31, 2025 |
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UNREALIZED |
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COST |
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GAINS |
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LOSSES |
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FAIR VALUE |
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Marketable securities: |
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Maturities within one year: |
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U.S. treasury securities |
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$ |
221,182 |
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$ |
430 |
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$ |
— |
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$ |
221,612 |
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Debt securities issued by U.S. government agencies |
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127,796 |
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324 |
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— |
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128,120 |
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Commercial paper |
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69,534 |
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22 |
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— |
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69,556 |
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Corporate debt securities |
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179,230 |
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136 |
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(11 |
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179,355 |
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Total maturities within one year |
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597,742 |
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912 |
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(11 |
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598,643 |
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Maturities between one and two years: |
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U.S. treasury securities |
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$ |
128,396 |
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$ |
149 |
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$ |
— |
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$ |
128,545 |
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Debt securities issued by U.S. government agencies |
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14,580 |
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16 |
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— |
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14,596 |
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Corporate debt securities |
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29,583 |
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16 |
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(10 |
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29,589 |
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Total maturities between one and two years |
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172,559 |
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181 |
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(10 |
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172,730 |
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Total marketable securities |
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$ |
770,301 |
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$ |
1,093 |
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$ |
(21 |
) |
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$ |
771,373 |
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