v3.26.1
Investments
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
Available-for-sale investments as of March 31, 2026, consist of the following (in thousands):
 
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Government and government agency$416,425 $200 $(379)$416,246 
Corporate bonds112,571 5 (213)112,363 
Total short-term available-for-sale investments$528,996 $205 $(592)$528,609 
 
As of March 31, 2026, the Company also had investments in equity securities with an adjusted cost of $31.2 million, unrealized losses of $5.2 million, and a fair value of $26.0 million, which are recorded within other long-term assets on the unaudited condensed consolidated balance sheets.

Available-for-sale investments as of December 31, 2025, consist of the following (in thousands):

Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Government and government agency$180,111 $426 $— $180,537 
Corporate bonds158,471 53 — 158,524 
U.S. Treasury bills9,810 5 — 9,815 
Total short-term available-for-sale investments$348,392 $484 $— $348,876 
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Government and government agency$270,457 $718 $— $271,175 
Corporate bonds79,867 224 (3)80,088 
Total long-term available-for-sale investments$350,324 $942 $(3)$351,263 

As of December 31, 2025, the Company also had investments in equity securities with an adjusted cost of $20.0 million, unrealized gains of $4.4 million, and a fair value of $24.4 million, which are recorded within other long-term assets on the condensed consolidated balance sheets.