
	June 30, 2026
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	258,285	$	—	$	—	$	258,285
U.S. treasury securities	28,705		—		—		28,705
U.S. government agency securities	100,916		—		(5)		100,911
Commercial paper	54,873		—		—		54,873

Total cash equivalents	442,779		—		(5)		442,774
Debt securities:
U.S. treasury securities	20,556		1		(29)		20,528
U.S. government agency securities	8,691		—		(23)		8,668
Corporate debt securities	12,976		2		(13)		12,965
Commercial paper	1,000		—		—		1,000
Certificates of deposit	126,281		—		—		126,281
Total debt securities	169,504		3		(65)		169,442
Total cash equivalents and debt securities	$	612,283	$	3	$	(70)	$	612,216


	December 31, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:
Money market funds	$	120,923	$	—	$	—	$	120,923
U.S. treasury securities	100,235		16		—		100,251
U.S. government agency securities	26,168		3		(1)		26,170
Corporate debt securities	47,466		—		—		47,466
Fixed deposits	129,875		—		—		129,875
Total cash equivalents	424,667		19		(1)		424,685
Debt securities:
U.S. treasury securities	131,286		102		(9)		131,379
U.S. government agency securities	30,868		40		—		30,908
Corporate debt securities	36,878		69		(6)		36,941
Commercial paper	12,369		—		—		12,369

Total debt securities	211,401		211		(15)		211,597
Total cash equivalents and debt securities	$	636,068	$	230	$	(16)	$	636,282

The following table presents gross unrealized losses and fair values for the securities that were in a continuous unrealized loss position as of the periods presented below (in thousands):


	June 30, 2026
	Less than 12 months				Greater than 12 months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. treasury securities	$	12,523	$	(28)	$	5,001	$	(1)	$	17,524	$	(29)
U.S. government agency securities	8,668		(23)		—		—		8,668		(23)
Corporate debt securities	9,455		(13)		—		—		9,455		(13)
Total	$	30,646	$	(64)	$	5,001	$	(1)	$	35,647	$	(65)


	December 31, 2025
	Less Than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. treasury securities	$	21,500	$	(9)	$	—	$	—	$	21,500	$	(9)

Corporate debt securities	7,495		(6)		—		—		7,495		(6)
Total	$	28,995	$	(15)	$	—	$	—	$	28,995	$	(15)

The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):


	June 30, 2026
	Amortized Cost		Fair Value
Due within one year	$	164,745	$	164,709
Due after one year but within five years	4,759		4,733
Total	$	169,504	$	169,442

Accrued interest receivable of $0.7 million and $1.5 million was classified in prepaid expenses and other current assets in the condensed consolidated balance sheet as of June 30, 2026 and December 31, 2025, respectively.