Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity

The amortized cost and estimated fair value of marketable securities, by remaining contractual maturity, are as follows:


		June 30, 2026
(in thousands)		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Fair Value

Maturing in one year or less
Corporate bonds		$	64,673				—			$	(190	)		$	64,483
Commercial paper			8,424				—				—				8,424
Yankee bonds			2,510				—				(15	)			2,495
U.S. Treasuries			131,087				—				(252	)			130,835
U.S. Treasury bills			45,913				—				(5	)			45,908
Maturing after one year through five years
Corporate bonds			48,200				—				(245	)			47,955
U.S. Treasuries			58,389				—				(215	)			58,174
Total		$	359,196			$	—			$	(922	)		$	358,274


		December 31, 2025
(in thousands)		Amortized Cost				Gross Unrealized Holding Gains				Gross Unrealized Holding Losses				Fair Value

Maturing in one year or less
U.S. Treasuries		$	25,772			$	16			$	—			$	25,788
U.S. Treasury bills			13,636				6				—				13,642
Maturing after one year through five years
U.S. Treasuries			19,273				19				—				19,292
Total		$	58,681			$	41			$	—			$	58,722

Schedule of Fair Value and Gross Unrealized Losses of Marketable Securities


		June 30, 2026
		Less than twelve months								Greater than twelve months								Total
(in thousands)		Fair value				Unrealized loss				Fair value				Unrealized loss				Fair value				Unrealized loss
Corporate bonds		$	112,438			$	(435	)			—				—			$	112,438			$	(435	)
Commercial paper			8,424				—				—				—				8,424				—
U.S. Treasury bills			45,908				(5	)			—				—				45,908				(5	)
U.S. Treasuries			189,009				(467	)			—				—				189,009				(467	)
Yankee bonds			2,495				(15	)			—				—				2,495				(15	)
Total		$	358,274			$	(922	)		$	—			$	—			$	358,274			$	(922	)