Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | Fair Value Measurements The following tables present our assets and liabilities measured at fair value on a recurring basis (in thousands):
As of June 30, 2026, $450.3 million of our money market accounts was included in cash and cash equivalents, $4.1 million was included in other assets, net, and $1.9 million was included in other current assets, net, in our condensed consolidated balance sheets. As of December 31, 2025, $933.0 million of our money market accounts was included in cash and cash equivalents, $6.1 million was included in other assets, net, and $2.0 million was included in other current assets, net, in our condensed consolidated balance sheets. Our assets from money market accounts are valued using quoted prices in active markets. Our equity securities with readily determinable fair value represent our investments in publicly traded companies, which are valued using quoted prices in active markets. During the three and six months ended June 30, 2026, we recorded a loss on equity securities of $2.1 million and $5.8 million, respectively, as compared to a loss of $1.5 million and $3.8 million for the same periods in the prior year. Our investments in public entities are recorded at fair value within other current assets, net, in our condensed consolidated balance sheets and changes in fair value of the investments are recorded within other expense, net within our condensed consolidated statements of operations. See Note 12 for the carrying amount and estimated fair value of our existing convertible senior notes as of June 30, 2026 and December 31, 2025. We monitor the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. There were no transfers into or out of Level 3 or reclassifications between levels of the fair value hierarchy during the three and six months ended June 30, 2026 and 2025.
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