| Investments Measured at Fair Value on Recurring Basis |
The following tables summarize, by major security type, our short-term investments that are measured at fair value on a recurring basis, in thousands:
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June 30, 2026 |
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|
Maturities
(years) |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Estimated
Fair Value |
|
Cash equivalents |
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|
|
|
|
|
|
|
|
|
|
|
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Money market funds |
1 or less |
|
$ |
15,595 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,595 |
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|
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|
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|
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|
|
|
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Short-term investments |
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|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
2 or less |
|
|
400,000 |
|
|
|
102 |
|
|
|
(976 |
) |
|
|
399,126 |
|
U.S. Agency bonds |
3 or less |
|
|
49,996 |
|
|
|
— |
|
|
|
(339 |
) |
|
|
49,657 |
|
Total short-term investments |
|
|
|
449,996 |
|
|
|
102 |
|
|
|
(1,315 |
) |
|
|
448,783 |
|
Total |
|
|
$ |
465,591 |
|
|
$ |
102 |
|
|
$ |
(1,315 |
) |
|
$ |
464,378 |
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|
|
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|
December 31, 2025 |
|
|
Maturities
(years) |
|
Amortized
Cost |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Estimated
Fair Value |
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
1 or less |
|
$ |
119,910 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
119,910 |
|
|
|
|
|
|
|
|
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|
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|
|
|
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
2 or less |
|
|
464,623 |
|
|
|
1,042 |
|
|
|
— |
|
|
|
465,665 |
|
U.S. Agency bonds |
3 or less |
|
|
52,494 |
|
|
|
11 |
|
|
|
(29 |
) |
|
|
52,476 |
|
Total short-term investments |
|
|
|
517,117 |
|
|
|
1,053 |
|
|
|
(29 |
) |
|
|
518,141 |
|
Total |
|
|
$ |
637,027 |
|
|
$ |
1,053 |
|
|
$ |
(29 |
) |
|
$ |
638,051 |
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