| Cash, Cash Equivalents, Restricted Cash and Marketable Securities |
Cash, Cash Equivalents, Restricted Cash and Marketable Securities The Company held restricted cash of $0.2 million and $5.1 million as of June 30, 2026 and December 31, 2025, respectively, predominately as collateral to its corporate credit card program. A summary of cash, cash equivalents, restricted cash and available-for-sale marketable securities held by the Company as of June 30, 2026 and December 31, 2025 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Cost | | Unrealized gains | | Unrealized losses | | Fair value | | Cash, cash equivalents and restricted cash: | | | | | | | | | Cash (Level 1) | $ | 125,620 | | | $ | — | | | $ | — | | | $ | 125,620 | | | Money market funds (Level 1) | 115,332 | | | — | | | — | | | 115,332 | | | | | | | | | | | Corporate debt securities with original maturities of 3 months or less (Level 2) | 51,929 | | | — | | | — | | | 51,929 | | | Total cash, cash equivalents and restricted cash | 292,881 | | | — | | | — | | | 292,881 | | | Marketable securities: | | | | | | | | | Corporate debt securities with original maturities of 1 year or less (Level 2) | 196,614 | | | 3 | | | (91) | | | 196,526 | | | U.S. government and GSE securities with original maturities of 1 year or less (Level 2) | 261,085 | | | 31 | | | (153) | | | 260,963 | | | U.S. government and GSE securities with original maturities of 1 to 2 years (Level 2) | 82,375 | | | 6 | | | (340) | | | 82,041 | | | Corporate debt securities with original maturities of 1 to 2 years (Level 2) | 6,539 | | | — | | | (42) | | | 6,497 | | Total cash, cash equivalents, restricted cash and marketable securities | $ | 839,494 | | | $ | 40 | | | $ | (626) | | | $ | 838,908 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Cost | | Unrealized gains | | Unrealized losses | | Fair value | | Cash, cash equivalents and restricted cash: | | | | | | | | | Cash (Level 1) | $ | 109,708 | | | $ | — | | | $ | — | | | $ | 109,708 | | | Money market funds (Level 1) | 50,211 | | | — | | | — | | | 50,211 | | U.S. government and government-sponsored entity (GSE) securities (Level 1) | 9,129 | | | — | | | — | | | 9,129 | | Corporate debt securities with original maturities of 3 months or less (Level 2) | 34,735 | | | — | | | — | | | 34,735 | | | Total cash, cash equivalents and restricted cash | 203,783 | | | — | | | — | | | 203,783 | | | Marketable securities: | | | | | | | | | Corporate debt securities with original maturities of 1 year or less (Level 2) | 372,096 | | | 178 | | | (16) | | | 372,258 | | U.S. government and GSE securities with original maturities of 1 year or less (Level 2) | 298,007 | | | 460 | | | (1) | | | 298,466 | | U.S. government and GSE securities with original maturities of 1 to 2 years (Level 2) | 91,936 | | | 211 | | | — | | | 92,147 | | Corporate debt securities with original maturities of 1 to 2 years (Level 2) | 21,968 | | | 30 | | | (3) | | | 21,995 | | | Total cash, cash equivalents, restricted cash and marketable securities | $ | 987,790 | | | $ | 879 | | | $ | (20) | | | $ | 988,649 | |
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