Fair value of financial instruments and marketable securities (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Fair value of financial instruments and marketable securities |
|
| Schedule of marketable securities |
| | | | | | | | | | | | | | | | | | | | | | Ending | | | | | | Foreign | | | | | | | Ending | | | Balance at | | | | | | Currency | | | | | | | Balance at | | | March 31, | | Unrealized | | | Unrealized | | Investments | | | | June 30, | | | 2026 | | Gain | | | Gain | | Purchased | | Sales | | 2026 | Marketable securities - equity investments | | $ | 48,443 | | | 700 | | | | 1,083 | | | 9,019 | | | (27,614) | | $ | 31,631 | Total Fair Value | | $ | 48,443 | | $ | 700 | | | $ | 1,083 | | $ | 9,019 | | $ | (27,614) | | $ | 31,631 |
| | | | | | | | | | | | | | | | | | | | | | Ending | | | | | | Foreign | | | | | | | Ending | | | Balance at | | | | | | Currency | | | | | | | Balance at | | | March 31, | | Unrealized | | | Unrealized | | Investments | | | | June 30, | | | 2025 | | Gain | | | Gain | | Purchased | | Sales | | 2025 | Marketable securities - equity investments | | $ | 28,187 | | | 764 | | | | 1,665 | | | 11,820 | | | (8,233) | | $ | 34,203 | ClearPoint Equity Investments | | | 10,637 | | | 44 | | | | — | | | — | | | — | | | 10,681 | Total Fair Value | | $ | 38,824 | | $ | 808 | | | $ | 1,665 | | $ | 11,820 | | $ | (8,233) | | $ | 44,884 |
| | | | | | | | | | | | | | | | | | | | | | Ending | | | | | | Foreign | | | | | | | Ending | | | Balance at | | | | | | Currency | | | | | | | Balance at | | | December 31, | | Unrealized | | | Unrealized | | Investments | | | | June 30, | | | 2025 | | Gain | | | Gain | | Purchased | | Sales | | 2026 | Marketable securities - equity investments | | $ | 31,596 | | | 1,914 | | | | 2,644 | | | 32,976 | | | (37,499) | | $ | 31,631 | Total Fair Value | | $ | 31,596 | | $ | 1,914 | | | $ | 2,644 | | $ | 32,976 | | $ | (37,499) | | $ | 31,631 |
| | | | | | | | | | | | | | | | | | | | | | Ending | | | | | | Foreign | | | | | | | Ending | | | Balance at | | | | | | Currency | | | | | | | Balance at | | | December 31, | | Unrealized | | | Unrealized | | Investments | | | | June 30, | | | 2024 | | Gain/(Loss) | | | Gain | | Purchased | | Sales | | 2025 | Marketable securities - equity investments | | $ | 29,034 | | | 1,538 | | | | 3,731 | | | 17,029 | | | (17,129) | | $ | 34,203 | ClearPoint Equity Investments | | | 13,759 | | | (3,078) | | | | — | | | — | | | — | | | 10,681 | Total Fair Value | | $ | 42,793 | | $ | (1,540) | | | $ | 3,731 | | $ | 17,029 | | $ | (17,129) | | $ | 44,884 |
|
| Schedule of financial assets and liabilities that are required to be measured at fair value on a recurring basis |
| | | | | | | | | | | | | | | June 30, 2026 | | | | | | Quoted prices | | Significant | | | | | | | | | in active | | other | | Significant | | | | | | markets for | | observable | | unobservable | | | | | | identical assets | | inputs | | inputs | | | Total | | (level 1) | | (level 2) | | (level 3) | Marketable securities - available for sale | | $ | 1,147,564 | | $ | — | | $ | 1,147,564 | | $ | — | Marketable securities - equity investments | | $ | 31,631 | | $ | 31,631 | | $ | — | | $ | — |
| | | | | | | | | | | | | | | December 31, 2025 | | | | | | Quoted prices | | Significant | | | | | | | | | in active | | other | | Significant | | | | | | markets for | | observable | | unobservable | | | | | | identical assets | | inputs | | inputs | | | Total | | (level 1) | | (level 2) | | (level 3) | Marketable securities - available for sale | | $ | 929,127 | | $ | — | | $ | 929,127 | | $ | — | Marketable securities - equity investments | | $ | 31,596 | | $ | 31,596 | | $ | — | | $ | — |
|
| Summary of marketable securities accounted for as available-for-sale debt securities |
| | | | | | | | | | | | | | | June 30, 2026 | | | Amortized | | Gross Unrealized | | | | | | Cost | | Gains | | Losses | | Fair Value | Commercial paper | | $ | 134,989 | | $ | 1 | | $ | (82) | | $ | 134,908 | Corporate debt securities | | | 510,870 | | | 2 | | | (797) | | | 510,075 | Government obligations | | | 503,068 | | | 5 | | | (492) | | | 502,581 | Total | | $ | 1,148,927 | | $ | 8 | | $ | (1,371) | | $ | 1,147,564 |
| | | | | | | | | | | | | | | December 31, 2025 | | | Amortized | | Gross Unrealized | | | | | | Cost | | Gains | | Losses | | Fair Value | Commercial paper | | $ | 93,113 | | $ | 8 | | $ | (9) | | $ | 93,112 | Corporate debt securities | | | 279,090 | | | 181 | | | (9) | | | 279,262 | Government obligations | | | 556,137 | | | 616 | | | — | | | 556,753 | Total | | $ | 928,340 | | $ | 805 | | $ | (18) | | $ | 929,127 |
|
| Summary of unrealized losses and fair values of available-for-sale debt securities in a continuous unrealized loss position |
| | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | | Securities in an unrealized loss | | Securities in an unrealized loss | | | | | | | | | position less than 12 months | | position greater than or equal to 12 months | | Total | | | Unrealized losses | | Fair Value | | Unrealized losses | | Fair Value | | Unrealized losses | | Fair Value | Commercial paper | | $ | (82) | | | 120,039 | | | — | | | — | | | (82) | | $ | 120,039 | Corporate debt securities | | $ | (797) | | | 493,847 | | | — | | | — | | | (797) | | $ | 493,847 | Government obligations | | $ | (492) | | | 454,099 | | | — | | | — | | | (492) | | $ | 454,099 | Total | | $ | (1,371) | | $ | 1,067,985 | | $ | — | | $ | — | | $ | (1,371) | | $ | 1,067,985 |
| | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Securities in an unrealized loss | | Securities in an unrealized loss | | | | | | | | | position less than 12 months | | position greater than or equal to 12 months | | Total | | | Unrealized losses | | Fair Value | | Unrealized losses | | Fair Value | | Unrealized losses | | Fair Value | Commercial paper | | $ | (9) | | | 50,306 | | | — | | | — | | | (9) | | $ | 50,306 | Corporate debt securities | | $ | (9) | | | 45,068 | | | — | | | — | | | (9) | | $ | 45,068 | Total | | $ | (18) | | $ | 95,374 | | $ | — | | $ | — | | $ | (18) | | $ | 95,374 |
|
| Schedule of available-for-sale debt securities |
| | | | | | | | | June 30, 2026 | | | Less Than | | More Than | | | 12 Months | | 12 Months | Commercial paper | | $ | 134,908 | | $ | — | Corporate debt securities | | | 498,443 | | | 11,632 | Government obligations | | | 502,581 | | | — | Total | | $ | 1,135,932 | | $ | 11,632 |
| | | | | | | | | December 31, 2025 | | | Less Than | | More Than | | | 12 Months | | 12 Months | Commercial paper | | $ | 93,112 | | $ | — | Corporate debt securities | | | 279,262 | | | — | Government obligations | | | 556,753 | | | — | Total | | $ | 929,127 | | $ | — |
|