| Schedule of Financial Instruments Measured at Fair Value |
Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements by major security type are presented in the following table: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | Money market funds(1) | $ | 204,595 | | | $ | — | | | $ | — | | | $ | 204,595 | | | U.S. Treasury securities | 117,071 | | | — | | | — | | | 117,071 | | | Commercial paper | — | | | 29,478 | | | — | | | 29,478 | | | Corporate debt securities | — | | | 83,613 | | | — | | | 83,613 | | | Government-related debt securities | — | | | 14,933 | | | — | | | 14,933 | | | Total assets measured at fair value | $ | 321,666 | | | $ | 128,024 | | | $ | — | | | $ | 449,690 | |
(1) This balance includes cash requirements settled on a nightly basis. | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: | | | | | | | | Money market funds(1) | $ | 173,694 | | | $ | — | | | $ | — | | | $ | 173,694 | | | U.S. Treasury securities | 129,350 | | | — | | | — | | | 129,350 | | | Commercial paper | — | | | 39,040 | | | — | | | 39,040 | | | Corporate debt securities | — | | | 70,186 | | | — | | | 70,186 | | | Government-related debt securities | — | | | 4,998 | | | — | | | 4,998 | | | Total assets measured at fair value | $ | 303,044 | | | $ | 114,224 | | | $ | — | | | $ | 417,268 | |
(1) This balance includes cash requirements settled on a nightly basis.
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| Schedule of Estimated Value of Cash, Cash Equivalents, Marketable Securities, and Equity Securities |
The fair value and amortized cost of cash equivalents and available-for-sale investments by major security type are presented in the following table: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Amortized cost | | Unrealized gains | | Unrealized losses | | Estimated fair value | | Cash equivalents: | | | | | | | | Money market funds(1) | $ | 204,595 | | | $ | — | | | $ | — | | | $ | 204,595 | | | | | | | | | | | | | | | | | | | | | | | | | | | Total cash equivalents | $ | 204,595 | | | $ | — | | | $ | — | | | $ | 204,595 | | | | | | | | | | | Marketable securities: | | | | | | | | | U.S. Treasury securities | $ | 117,354 | | | $ | 10 | | | $ | (293) | | | $ | 117,071 | | | Commercial paper | 29,530 | | | — | | | (52) | | | 29,478 | | | Corporate debt securities | 83,769 | | | 8 | | | (164) | | | 83,613 | | | Government-related debt securities | 14,999 | | | — | | | (66) | | | 14,933 | | | Total marketable securities | $ | 245,652 | | | $ | 18 | | | $ | (575) | | | $ | 245,095 | |
(1) This balance includes cash requirements settled on a nightly basis. | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Amortized cost | | Unrealized gains | | Unrealized losses | | Estimated fair value | | Cash equivalents: | | | | | | | | Money market funds(1) | $ | 173,694 | | | $ | — | | | $ | — | | | $ | 173,694 | | | U.S. Treasury securities | 9,946 | | | 1 | | | — | | | 9,947 | | | | | | | | | | | | | | | | | | | Total cash equivalents | $ | 183,640 | | | $ | 1 | | | $ | — | | | $ | 183,641 | | | | | | | | | | | Marketable securities: | | | | | | | | | U.S. Treasury securities | $ | 119,194 | | | $ | 209 | | | $ | — | | | $ | 119,403 | | | Commercial paper | 39,022 | | | 26 | | | (8) | | | 39,040 | | | Corporate debt securities | 70,032 | | | 154 | | | — | | | 70,186 | | | Government-related debt securities | 4,999 | | | — | | | (1) | | | 4,998 | | | Total marketable securities | $ | 233,247 | | | $ | 389 | | | $ | (9) | | | $ | 233,627 | |
(1) This balance includes cash requirements settled on a nightly basis.
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