v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy
The following table represents the Company’s fair value hierarchy for its financial assets and liabilities (in thousands):
Fair Value at June 30, 2026Fair Value at December 31, 2025
AssetsLevel 1Level 2Level 3Level 1Level 2Level 3
Money market funds(1)
$94,774 $— $— $128,152 $— $— 
Government-backed securities(1)
— 75,000 — — 90,000 — 
Treasury securities
— 217,737 — — 220,299 — 
Corporate debt securities(2)
— 277,151 — — 260,154 — 
Agency securities— 42,511 $— —13,997 —
Total cash equivalents and marketable securities
$94,774 $612,399 $— $128,152 $584,450 $— 
Liabilities
5.00% Convertible notes due 2027(3)
$— $31,139 $— $— $28,313 $— 
4.625% Convertible notes due 2031(3)
— 277,040 — — 221,967 — 
Total convertible notes payable$— $308,179 $— $— $250,280 $— 
    
(1)Classified as cash and cash equivalents as of June 30, 2026 and December 31, 2025, respectively, on the consolidated balance sheets.
(2)Includes $9.5 million classified as Cash and cash equivalents as of June 30, 2026, on the consolidated balance sheets.
(3)Classified as Long-term debt as of June 30, 2026 and December 31, 2025, respectively, on the consolidated balance sheets.