| Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of fair value hierarchy utilized to determine such values (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AS OF MARCH 31, 2026 |
|
|
|
LEVEL 1 |
|
|
LEVEL 2 |
|
|
LEVEL 3 |
|
|
TOTAL |
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
441,502 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
441,502 |
|
U.S. treasury securities |
|
|
3,190 |
|
|
|
— |
|
|
|
— |
|
|
|
3,190 |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
|
429,627 |
|
|
|
— |
|
|
|
— |
|
|
|
429,627 |
|
Debt securities issued by U.S. government agencies |
|
|
— |
|
|
|
116,326 |
|
|
|
— |
|
|
|
116,326 |
|
Commercial paper |
|
|
— |
|
|
|
19,282 |
|
|
|
— |
|
|
|
19,282 |
|
Corporate debt securities |
|
|
— |
|
|
|
241,207 |
|
|
|
— |
|
|
|
241,207 |
|
Total |
|
$ |
874,319 |
|
|
$ |
376,815 |
|
|
$ |
— |
|
|
$ |
1,251,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AS OF DECEMBER 31, 2025 |
|
|
|
LEVEL 1 |
|
|
LEVEL 2 |
|
|
LEVEL 3 |
|
|
TOTAL |
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
86,669 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
86,669 |
|
U.S. treasury securities |
|
|
5,903 |
|
|
|
— |
|
|
|
— |
|
|
|
5,903 |
|
Commercial paper |
|
|
— |
|
|
|
26,428 |
|
|
|
— |
|
|
|
26,428 |
|
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
|
350,157 |
|
|
|
— |
|
|
|
— |
|
|
|
350,157 |
|
Debt securities issued by U.S. government agencies |
|
|
— |
|
|
|
142,716 |
|
|
|
— |
|
|
|
142,716 |
|
Commercial paper |
|
|
— |
|
|
|
69,556 |
|
|
|
— |
|
|
|
69,556 |
|
Corporate debt securities |
|
|
— |
|
|
|
208,944 |
|
|
|
— |
|
|
|
208,944 |
|
Total |
|
$ |
442,729 |
|
|
$ |
447,644 |
|
|
$ |
— |
|
|
$ |
890,373 |
|
|