| Schedule of Assets and Liabilities Measured on Recurring Basis |
The following tables summarize fair value measurements by level for assets and liabilities measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | (in thousands) | Level 1 | | Level 2 | | Level 3 | | Total | | Assets | | | | | | | | Cash equivalents | $ | 81,098 | | $ | 107,528 | | $ | — | | $ | 188,626 | Investments | | | | | | | | U.S. treasury and agency securities | $ | — | | | $ | 3,203,030 | | | $ | — | | | $ | 3,203,030 | | Corporate notes | — | | | 771,299 | | | — | | | 771,299 | | Certificates of deposit | — | | | 1,965,000 | | | — | | | 1,965,000 | | Commercial paper | — | | | 99,721 | | | — | | | 99,721 | | | | | | | | | | | Asset-backed securities | — | | | 38,717 | | | — | | | 38,717 | | | Restricted investments | | | | | | | | | | | | | | | | U.S. treasury securities | — | | | 4,512 | | | — | | | 4,512 | | | Total assets | $ | 81,098 | | | $ | 6,189,807 | | | $ | — | | | $ | 6,270,905 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | (in thousands) | Level 1 | | Level 2 | | Level 3 | | Total | | | | Assets | | | | | | | | | | | Cash equivalents | $ | 49,552 | | | $ | — | | | $ | — | | | $ | 49,552 | | | | Investments | | | | | | | | | | U.S. treasury and agency securities | $ | — | | | $ | 2,090,980 | | | $ | — | | | $ | 2,090,980 | | | | Corporate notes | — | | | 560,414 | | | — | | | 560,414 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset-backed securities | — | | | 33,645 | | | — | | | 33,645 | | | | | Restricted investments | | | | | | | | | | | | | | | | | | | | | U.S. treasury securities | — | | | 2,979 | | | — | | | 2,979 | | | | | Total assets | $ | 49,552 | | | $ | 2,688,018 | | | $ | — | | | $ | 2,737,570 | | | |
|