v3.26.1
Balance Sheet Components (Tables)
6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Cash Equivalents and Marketable Securities Classified as Available For Sale Securities

The fair values of cash equivalents and marketable securities classified as available-for-sale securities consist of the following (in millions):

 

 

June 30, 2026

 

 

 

 

 

 

Gross Unrealized

 

 

 

 

 

 

Amortized
Cost

 

 

Gains

 

 

Losses

 

 

Estimated
Fair Value

 

Money market funds

 

$

60

 

 

$

 

 

$

 

 

$

60

 

Corporate bonds

 

 

276

 

 

 

 

 

 

(1

)

 

 

275

 

Commercial paper

 

 

4

 

 

 

 

 

 

 

 

 

4

 

U.S. Government Treasury and agency securities

 

 

32

 

 

 

 

 

 

 

 

 

32

 

Total

 

$

372

 

 

$

 

 

$

(1

)

 

$

371

 

 

 

December 31, 2025

 

 

 

 

 

 

Gross Unrealized

 

 

 

 

 

 

Amortized
Cost

 

 

Gains

 

 

Losses

 

 

Estimated
Fair Value

 

Money market funds

 

$

320

 

 

$

 

 

$

 

 

$

320

 

Time deposits

 

 

10

 

 

 

 

 

 

 

 

 

10

 

Corporate bonds

 

 

263

 

 

 

 

 

 

 

 

 

263

 

Commercial paper

 

 

37

 

 

 

 

 

 

 

 

 

37

 

U.S. Government Treasury and agency securities

 

 

35

 

 

 

 

 

 

 

 

 

35

 

Total

 

$

665

 

 

$

 

 

$

 

 

$

665

 

Summary of Inventory

Inventory consists of the following (in millions):

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Work-in-process

 

$

32

 

 

$

27

 

Finished goods

 

 

27

 

 

 

25

 

Total inventory

 

$

59

 

 

$

52

 

Summary of Accrued Liabilities

Accrued liabilities consist of the following (in millions):

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Research and clinical study expenses

 

$

23

 

 

$

23

 

Payroll and related expenses

 

 

63

 

 

 

89

 

Revenue related reserves

 

 

72

 

 

 

57

 

Manufacturing and related expenses

 

 

42

 

 

 

67

 

Other

 

 

21

 

 

 

29

 

Total accrued liabilities

 

$

221

 

 

$

265