v3.26.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Investments

Available-for-sale investments were as follows (in thousands):

 

Estimated
Fair Value

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Amortized
Cost

 

At March 31, 2026:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries - Cash equivalents

 

$

574,153

 

 

$

11

 

 

$

—

 

 

$

574,142

 

Total

 

$

574,153

 

 

$

11

 

 

$

—

 

 

$

574,142

 

At December 31, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries - Cash equivalents

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 
Estimated Fair Values of Available for Sale Securities

The estimated fair values of available-for-sale securities at March 31, 2026, by contractual maturity, are summarized as follows (in thousands):

 

March 31,
2026

 

Due in one year or less

 

$

574,153

 
Summary Of Net Gains And Losses On Equity Securities

 

For the Three Months Ended March 31,

 

 

2026

 

 

2025

 

Equity securities:

 

 

 

 

 

 

Net gains (losses) recognized during the period on equity
   securities

 

$

4,750

 

 

$

2,644

 

Unrealized net gains (losses) recognized during the period on equity securities still held at the reporting date

 

$

4,750

 

 

$

2,644