Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Contractual Maturities of Investments

The contractual maturities of investments classified as marketable securities are as follows:


	June 30, 2026		December 31, 2025
Due within 1 year	$	491,122	$	416,764
Due within 2 years	339,918		197,675
Total marketable securities	$	831,040	$	614,439

Schedule of Marketable Securities

The following table represents the amortized cost, gross unrealized gains and losses, and fair market value of the Company’s marketable securities by significant investment category in addition to their fair value level at June 30, 2026 and December 31, 2025.


	As of June 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Level
Commercial paper	$	35,661	$	—	$	(59)	$	35,602	2
U.S. Treasuries	147,640		16		(464)		147,192		1
Corporate bonds	407,373		109		(1,462)		406,020		2
Money market funds measured at NAV (a)	242,226		—		—		242,226		N/A
Total marketable securities	$	832,900	$	125	$	(1,985)	$	831,040


	As of December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Level
Commercial paper	$	12,753	$	5	$	(1)	$	12,757	2
U.S. Treasuries	107,090		153		(31)		107,212		1
Corporate bonds	304,964		796		(60)		305,700		2
Money market funds measured at NAV (a)	188,770		—		—		188,770		N/A
Total marketable securities	$	613,577	$	954	$	(92)	$	614,439

(a)Money market funds that were measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the condensed consolidated balance sheets.