v3.26.1
Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Values of Financial Instruments Measured on a Recurring Basis
The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands):
June 30, 2026
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$235,938 $— $— $235,938 
Commercial paper— 30,951 — 30,951 
Marketable securities:
Corporate bonds— 402,917 — 402,917 
Commercial paper— 188,620 — 188,620 
Certificates of deposit— 117,502 — 117,502 
U.S. treasury securities139,255 — — 139,255 
Non-U.S. government and supranational bonds— 4,123 — 4,123 
Other assets:
Certificates of deposit$— $6,005 $— $6,005 
December 31, 2025
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$452,315 $— $— $452,315 
Commercial paper— 286,879 — 286,879 
U.S. treasury securities64,934 — — 64,934 
Corporate bonds— 4,516 — 4,516 
Marketable securities:
Corporate bonds— 706,288 — 706,288 
U.S. treasury securities374,844 — — 374,844 
Commercial paper— 253,466 — 253,466 
Certificates of deposit— 163,213 — 163,213 
Other assets:
Certificates of deposit$— $6,020 $— $6,020 
Schedule of Fair Value of Marketable Securities by Contractual Maturity
The fair value of our marketable securities by contractual maturity is as follows (in thousands):
June 30, 2026
Due in one year or less $574,232 
Due after one to five years 278,185 
Total $852,417