v3.26.1
Investments
 3 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The cost, gross unrealized gains and losses, and fair value of investments are as follows (in thousands):
As of June 30, 2026
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Cash equivalents:
Commercial paper$74,048 $— $(7)$74,041 
Corporate notes and bonds4,000 — — 4,000 
Money market funds186,289 — — 186,289 
Total cash equivalents264,337 — (7)264,330 
Marketable securities:
Commercial paper1,027 — — 1,027 
Corporate notes and bonds289,913 134 (447)289,600 
U.S. government and agency securities123,704 75 (221)123,558 
Total marketable securities414,644 209 (668)414,185 
Total cash equivalents and marketable securities$678,981 $209 $(675)$678,515 
As of June 30, 2026, the contractual maturities of the Company’s available-for-sale debt securities were as follows (in thousands):
Fair Value
Due within one year$374,847 
Due in one to two years117,379 
Total$492,226 
Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations.
The cost, gross unrealized gains and losses, and fair value of investments were as follows (in thousands):
As of March 31, 2026
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Cash equivalents:
Commercial paper$8,500 $— $(2)$8,498 
Money market funds174,953 — — 174,953 
Total cash equivalents183,453 — (2)183,451 
Marketable securities:
Commercial paper11,314 — (2)11,312 
Corporate notes and bonds390,900 341 (468)390,773 
U.S. government and agency securities127,169 246 (77)127,338 
Total marketable securities529,383 587 (547)529,423 
Total cash equivalents and marketable securities$712,836 $587 $(549)$712,874 
As of June 30, 2026 and March 31, 2026, the Company has recognized accrued interest of $4.4 million and $5.3 million, respectively, which is included in prepaid expenses and other current assets in the condensed consolidated balance sheets.
The unrealized losses associated with the Company’s debt securities were immaterial as of June 30, 2026 and March 31, 2026. As the Company does not intend to sell the securities with unrealized losses and it is more likely than not that the Company will hold these securities until maturity or until the cost basis is recovered, the Company did not recognize any impairment on these securities as of June 30, 2026 or March 31, 2026. The Company did not recognize any credit losses related to the Company’s debt securities as of June 30, 2026 or March 31, 2026. The fair value related to the debt securities with unrealized losses for which no credit losses were recognized was $267.9 million and $207.6 million as of June 30, 2026 and March 31, 2026, respectively.