v3.26.1
MARKETABLE DEBT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Debt Securities
Marketable debt securities consisted of the following (in thousands):
June 30, 2026December 31, 2025
Marketable debt securities:
Commercial paper$64,258 $62,988 
Corporate debt securities271,194 151,777 
Securities of government sponsored entities19,868 9,993 
Municipal bonds16,122 5,003 
Total available-for-sale marketable debt securities$371,442 $229,761 
Schedule of Short-term Marketable Debt Securities
The following is a summary of short-term marketable debt securities classified as available-for-sale as of June 30, 2026 (in thousands):
Remaining Contractual Maturity
(in years)		Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Aggregate Estimated Fair Value
Marketable debt securities:
Commercial paperLess than 1$64,341 $— $(83)$64,258 
Corporate debt securitiesLess than 1101,851 — (154)101,697 
Securities of government-sponsored entitiesLess than 110,000 — (45)9,955 
Total maturity less than 1 year176,192 — (282)175,910 
Corporate debt securities1 to 2169,997 29 (529)169,497 
Securities of government-sponsored entities1 to 29,933 — (20)9,913 
Municipal bonds1 to 216,179 — (57)16,122 
Total maturity 1 to 2 years196,109 29 (606)195,532 
Total available-for-sale marketable debt securities$372,301 $29 $(888)$371,442 
The following is a summary of short-term marketable debt securities classified as available-for-sale as of December 31, 2025 (in thousands):
Remaining Contractual Maturity
(in years)		Amortized
Cost		Unrealized
 Gains		Unrealized
Losses		Aggregate Estimated Fair Value
Marketable debt securities:
Commercial paperLess than 1$62,974 $20 $(6)$62,988 
Corporate debt securitiesLess than 177,414 12 (33)77,393 
Municipal bondsLess than 15,000 3 — 5,003 
Total maturity less than 1 year145,388 35 (39)145,384 
Corporate debt securities1 to 274,389 69 (74)74,384 
Securities of government-sponsored entities1 to 210,000 — (7)9,993 
Total maturity 1 to 2 years84,389 69 (81)84,377 
Total available-for-sale marketable debt securities$229,777 $104 $(120)$229,761 
Schedule of Available-for-Sale Marketable Debt Securities in an Unrealized Loss Position
The following is a summary of available-for-sale marketable debt securities in an unrealized loss position with no credit losses aggregated by investment category and length of time those individual securities have been in a continuous unrealized loss position reported as of June 30, 2026 (in thousands):
Less Than 12 Months12 Months or GreaterTotal
Description of SecuritiesFair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Commercial paper$60,116 $83 $— $— $60,116 $83 
Corporate debt securities266,227 683 — — 266,227 683 
Securities of government-sponsored entities19,868 65 — — 19,868 65 
Municipal bonds16,122 57 — — 16,122 57 
Total$362,333 $888 $— $— $362,333 $888 
The following is a summary of available-for-sale marketable debt securities in an unrealized loss position with no credit losses aggregated by investment category and length of time those individual securities have been in a continuous unrealized loss position reported as of December 31, 2025 (in thousands):
Less Than 12 Months12 Months or GreaterTotal
Description of SecuritiesFair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Commercial paper$12,317 $6 $— $— $12,317 $6 
Corporate debt securities118,443 107 — — 118,443 107 
Securities of government-sponsored entities9,993 7 — — 9,993 7 
Total$140,753 $120 $— $— $140,753 $120