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 bonds | 112,571 | | | 5 | | | (213) | | | 112,363 | | | | | | | | | | | | | | | | | | | Total short-term available-for-sale investments | $ | 528,996 | | | $ | 205 | | | $ | (592) | | | $ | 528,609 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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 bonds | 158,471 | | | 53 | | | — | | | 158,524 | | | U.S. Treasury bills | 9,810 | | | 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 bonds | 79,867 | | | 224 | | | (3) | | | 80,088 | | | | | | | | | | | | | | | | | | | Total long-term available-for-sale investments | $ | 350,324 | | | $ | 942 | | | $ | (3) | | | $ | 351,263 | |
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