Investments in marketable securities, which are presented within current assets in the unaudited condensed consolidated balance sheets, consisted of the following (in thousands):


	June 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities
U.S. treasury securities	$	185,728	$	—	$	(192)	$	185,536
Commercial paper	64,453		—		—		64,453
Corporate bonds	34,906		—		(32)		34,874

	$	285,087	$	—	$	(224)	$	284,863


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities
U.S. treasury securities	$	205,472	$	232	$	—	$	205,704
Commercial paper	152,792		—		—		152,792
Corporate bonds	29,672		10		—		29,682

	$	387,936	$	242	$	—	$	388,178

The Company’s marketable securities at June 30, 2026 have a contractual maturity of less than one year. All of the Company’s available-for-sale securities are available for use in current operations and are categorized as current assets. Refer to “Note 7 - Fair Value Measurements” for additional information.

The Company recognized accretion on its marketable securities of $1.9 million and $4.4 million for the quarter and six months ended June 30, 2026, respectively, and $3.4 million and $5.4 million for the quarter and six months ended June 30, 2025, respectively, each recorded in interest income in the unaudited condensed consolidated statement of operations.

Net gains and losses are determined using the specific identification method. During the quarter and six months ended June 30, 2026, nominal realized gains were recognized in the unaudited condensed consolidated statements of operations from the sales of marketable securities. During the quarter and six months ended June 30, 2025, the Company had no sales of marketable securities, and therefore, no related realized gains or losses were recognized in the unaudited condensed consolidated statements of operations.

Marketable securities in a continuous loss position for less than 12 months had an estimated fair value of $209.6 million and unrealized losses were $0.2 million at June 30, 2026. There were no marketable securities in a continuous loss position for greater than 12 months at June 30, 2026.

The Company's marketable securities are considered to be of high credit quality and accordingly, there was no allowance for credit losses related to marketable securities at June 30, 2026.

Deferred customer contract acquisition costs are included in other assets in the unaudited condensed consolidated balance sheets and totaled $85.1 million and $89.3 million at June 30, 2026 and December 31, 2025, respectively.


	June 30, 2026		December 31, 2025
Accrued salaries and employee benefits	$	25,738	$	39,301
Accrued income and other taxes payable	9,120		13,764
Accrued restructuring costs	1,215		4,215
Other accrued expenses and current liabilities	24,072		19,510
	$	60,145	$	76,790

The Company uses foreign currency forward contracts with an approximate maturity of one month to mitigate foreign currency exchange rate fluctuations on certain foreign currency-denominated monetary assets. Under ASC 815, Derivatives and Hedging, these contracts are not designated as hedging instruments.

The fair value of the forward contracts, estimated based on prevailing exchange rates of the various hedged currencies at the end of the period, is reported as either prepaid expenses and other current assets or accrued expenses and other current liabilities in the unaudited condensed consolidated balance sheets. At June 30, 2026, the total gross notional amount of forward contracts was $51.0 million. Refer to “Note 7 - Fair Value Measurements” for additional information on the fair value classification of the forward contracts.

For the quarter and six months ended June 30, 2026, the net gains from the forward contracts were $0.5 million and $1.4 million, respectively, which were recorded in general and administrative expenses.

For the quarter and six months ended June 30, 2025, the net loss from the forward contracts, which was recorded in general and administrative expenses, was $1.4 million.

Cash flows from the settlement of the forward contracts are classified as operating activities in the unaudited condensed statements of cash flows.