Fair Value of Financial Instruments (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Marketable Securities Portfolio |
The following is a summary of our marketable security portfolio for the periods presented (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized
Cost | | Unrealized Gains | | Unrealized Losses | |
Fair Value | | June 30, 2026 | | | | | | | | | Debt securities (government) | $ | 555,856 | | | $ | 266 | | | $ | (2,757) | | | $ | 553,365 | | | | | | | | | | | December 31, 2025 | | | | | | | | | Debt securities (government) | $ | 480,793 | | | $ | 2,028 | | | $ | (34) | | | $ | 482,787 | |
The table below summarizes the contractual maturities of our available-for-sale debt securities as of June 30, 2026 (in thousands): | | | | | | | | | | | | | | | | | | | Total | | Less than 1 Year | | 1-5 Years | | Fair value of debt securities (government) | $ | 553,365 | | | $ | 205,695 | | | $ | 347,670 | |
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| Schedule of Fair Value of Assets Measured on Recurring Basis |
The following fair value hierarchy table presents information about each major category of our financial assets measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement at Reporting Date Using: | | | | Quoted Prices in
Active Markets for
Identical Assets
(Level 1) | | Significant Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Balance as of
June 30, 2026 | | Cash and cash equivalents | $ | 3,982,375 | | | $ | — | | | $ | — | | | $ | 3,982,375 | | | Debt securities (government) | — | | | 553,365 | | | — | | | 553,365 | | Long term equity investments (Note 7) | 64,387 | | | — | | | 40,000 | | | 104,387 | | | Total assets | $ | 4,046,762 | | | $ | 553,365 | | | $ | 40,000 | | | $ | 4,640,127 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement at Reporting Date Using: | | | | Quoted Prices in
Active Markets for
Identical Assets
(Level 1) | | Significant Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Balance as of
December 31, 2025 | | Cash and cash equivalents | $ | 3,097,817 | | | $ | — | | | $ | — | | | $ | 3,097,817 | | | Debt securities (government) | — | | | 482,787 | | | — | | | 482,787 | | Long term equity investments (Note 7) | 47,991 | | | — | | | — | | | 47,991 | | | Total assets | $ | 3,145,808 | | | $ | 482,787 | | | $ | — | | | $ | 3,628,595 | |
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| Schedule of Fair Value of Liabilities Measured on Recurring Basis |
The following fair value hierarchy table presents information about each major category of our financial liabilities measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement at Reporting Date Using: | | | | Quoted Prices in
Active Markets for
Identical Liabilities
(Level 1) | | Significant Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Balance as of
June 30, 2026 | | Acquisition-related contingent consideration | $ | — | | | $ | — | | | $ | 102,000 | | | $ | 102,000 | | | Total liabilities | $ | — | | | $ | — | | | $ | 102,000 | | | $ | 102,000 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement at Reporting Date Using: | | | | Quoted Prices in
Active Markets for
Identical Liabilities
(Level 1) | | Significant Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Balance as of
December 31, 2025 | | Acquisition-related contingent consideration | $ | — | | | $ | — | | | $ | 121,000 | | | $ | 121,000 | | | Total liabilities | $ | — | | | $ | — | | | $ | 121,000 | | | $ | 121,000 | |
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| Schedule of Roll Forward of Level 3 Liabilities |
The following is a roll forward of our Level 3 liabilities (in thousands): | | | | | | | 2026 | | Balance at January 1, | $ | 121,000 | | | Contingent consideration earned during the period but not yet paid | (10,499) | | | Payments made during the period | (10,832) | | | Change in fair value of contingent consideration | 2,331 | | | Balance at June 30, | $ | 102,000 | |
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