v3.26.1
Cash Equivalents and Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Cash and Cash Equivalents [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The following is a summary of the Company's investment portfolio as of June 30, 2026 and December 31, 2025 (in thousands):
As of June 30, 2026
Gross UnrealizedEstimated
CostGainsLossesFair Value
Cash equivalents:
Money market funds$79,243 $— $— $79,243 
Available-for-sale securities:
Debt securities issued by U.S. government agencies277,132 — (656)276,476 
Corporate debt securities293,902 — (678)293,224 
Asset backed securities68,267 — (59)68,208 
Commercial paper14,466 — (25)14,441 
Other debt securities247,985 — (1,254)246,731 
Total cash equivalents and marketable securities$980,995 $— $(2,672)$978,323 

As of December 31, 2025
Gross UnrealizedEstimated
CostGainsLossesFair Value
Cash equivalents:
Money market funds$195,296 $— $— $195,296 
Debt securities issued by U.S. government agencies7,003 — (1)7,002 
Available-for-sale securities:
Corporate debt securities198,036 282 — 198,318 
Debt securities issued by U.S. government agencies183,739 258 — 183,997 
Asset backed securities61,282 70 — 61,352 
Commercial paper7,714 4 — 7,718 
Other debt securities117,424 — (50)117,374 
Total cash equivalents and marketable securities$770,494 $614 $(51)$771,057 
Contractual maturities of the marketable securities at each balance sheet date are as follows (in thousands):
June 30, 2026December 31, 2025
Within one year$283,790 $242,002 
After one year through five years615,290 326,757 
Total$899,080 $568,759