The Company holds investments in time deposits and in U.S. government bonds, which are classified as available-for-sale. The following table presents the components of the Company's available-for-sale debt securities as of June 30, 2026 and December 31, 2025:


	Amortized Cost		Unrealized				Estimated Fair Value
			Gains		Losses
As of June 30, 2026
U.S. government bonds	$	149,595	$	—	$	22	$	149,573
Time deposits	$	100,000	$	—	$	—	$	100,000
As of December 31, 2025
U.S. government bonds	$	248,980	$	154	$	—	$	249,134

During the three months ended June 30, 2026, $150.0 million of available-for-sale debt securities matured.

As of June 30, 2026, the Company held $249.6 million of available-for-sale debt securities, all of which had contractual maturities of one year or less.

As of June 30, 2026, accrued interest receivable related to available-for-sale debt securities totaled $1.8 million, and was excluded from the disclosed amortized cost basis. Accrued interest receivable is recorded in prepaid expenses and other current assets on the condensed consolidated balance sheets.