v3.26.1
CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES
 6 Months Ended
Jun. 30, 2026
Cash and Cash Equivalents [Abstract]  
CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES
Cash and cash equivalents and marketable securities consisted of the following as of June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
Cash and cash equivalents$2,129,485 $828,660 
Marketable securities, current172,700 187,917 
Marketable securities, non-current85,405 82,247 
Total cash and cash equivalents and marketable securities$2,387,590 $1,098,824 
As of June 30, 2026, cash equivalents and marketable securities consisted of the following:
Amortized CostGross Unrealized GainsGross Unrealized Losses Fair ValueCash EquivalentsMarketable Securities
Money market accounts$2,039,015 $— $— $2,039,015 $2,039,015 $— 
Certificates of deposit32,148 2 (20)32,130 — 32,130 
Commercial paper36,345 3 (46)36,302 — 36,302 
Corporate debt securities95,475 13 (190)95,298 — 95,298 
Yankee bonds4,872 1 (1)4,872 — 4,872 
U.S. Treasury securities54,554 4 (255)54,303 — 54,303 
Asset-backed securities35,188 28 (16)35,200 — 35,200 
Total$2,297,597 $51 $(528)$2,297,120 $2,039,015 $258,105 
The following table presents the Company’s marketable securities with unrealized losses by investment category and the length of time the marketable securities have been in a continuous loss position as of June 30, 2026:
In Loss Position for
Less than 12 Months
Fair ValueUnrealized Losses
Certificates of deposit$27,801 $(20)
Commercial paper32,857 (46)
Corporate debt securities65,554 (190)
Yankee bonds3,093 (1)
U.S. Treasury securities36,344 (255)
Asset-backed securities19,769 (16)
Total$185,418 $(528)
The Company has not observed a significant deterioration in credit quality of these securities, which are highly rated with moderate to low credit risk. Declines in value are largely attributable to current global economic conditions. The securities continue to make timely principal and interest payments, and the fair values are expected to recover as they approach maturity. The Company does not intend to sell the securities, and it is not more likely than not that the Company will be required to sell the securities, before the respective recoveries of their amortized cost bases, which may be maturity. As of June 30, 2026, the Company had not recognized an allowance for credit losses on any marketable securities in an unrealized loss position.
The following table summarizes the contractual maturities of the Company’s cash equivalents and marketable securities as of June 30, 2026:
Amortized CostFair Value
Due within one year$2,211,898 $2,211,715 
Due within one to two years85,699 85,405 
Total$2,297,597 $2,297,120