Cash, Cash Equivalents and Marketable Securities (Tables)
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3 Months Ended |
Jun. 30, 2026 |
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| Cash and Cash Equivalents [Abstract] |
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| Schedule of Cash, Cash Equivalents, and Marketable Securities |
Cash, cash equivalents and marketable securities consisted of the following (in thousands): | | | | | | | | | | | | | June 30, 2026 | | March 31, 2026 | | Cash and cash equivalents | | | | | Cash | $ | 77,088 | | | $ | 44,526 | | | Money market funds | 1,171,368 | | | 1,374,706 | | | Total cash and cash equivalents | $ | 1,248,456 | | | $ | 1,419,232 | | | Marketable securities | | | | | U.S. Treasury securities | $ | 1,888,731 | | | $ | 2,124,179 | | | Corporate bonds | 704,895 | | | 748,422 | | | Total marketable securities, available-for-sale | $ | 2,593,626 | | | $ | 2,872,601 | | | | | | | Total cash, cash equivalents and marketable securities | $ | 3,842,082 | | | $ | 4,291,833 | |
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| Schedule of Unrealized Positions for Marketable Securities |
The following table summarizes the unrealized positions for the Company’s marketable securities (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | Amortized Cost(1) | | Gross Unrealized
Gains | | Gross Unrealized
Losses | | Fair Value | | U.S. Treasury securities | $ | 1,892,411 | | | $ | 25 | | | $ | (3,705) | | | $ | 1,888,731 | | | Corporate bonds | 707,757 | | | — | | | (2,862) | | | 704,895 | | | Total marketable securities, available-for-sale | $ | 2,600,168 | | | $ | 25 | | | $ | (6,567) | | | $ | 2,593,626 | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2026 | | Amortized Cost(1) | | Gross Unrealized
Gains | | Gross Unrealized
Losses | | Fair Value | | U.S. Treasury securities | $ | 2,125,053 | | | $ | 538 | | | $ | (1,412) | | | $ | 2,124,179 | | | Corporate bonds | 751,103 | | | — | | | (2,681) | | | 748,422 | | | Total marketable securities, available-for-sale | $ | 2,876,156 | | | $ | 538 | | | $ | (4,093) | | | $ | 2,872,601 | |
(1)Excludes $21.6 million and $19.6 million of accrued interest receivable as of June 30, 2026 and March 31, 2026, respectively, which is included in “Other current assets” on the condensed consolidated balance sheets.
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| Schedule of Marketable Securities as Level 2 Measurements Within the Fair Value Hierarchy |
The estimated fair value of available-for-sale marketable securities by contractual maturity were as follows (in thousands): | | | | | | | | | | | | | June 30, 2026 | | March 31, 2026 | | Due within one year | $ | 1,644,641 | | | $ | 2,145,345 | | | Due after one year but within five years | 948,985 | | | 727,256 | | | Total estimated fair value of available-for-sale securities | $ | 2,593,626 | | | $ | 2,872,601 | |
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