| Schedule of Cash Equivalents and Marketable Securities Classified as Available-For-Sale |
Total cash, cash equivalents and marketable securities are summarized as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2026 |
|
(In thousands) |
|
Fair Value |
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
Cash |
|
$ |
75,514 |
|
|
$ |
75,514 |
|
|
$ |
— |
|
|
$ |
— |
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
|
19,442 |
|
|
|
19,442 |
|
|
|
— |
|
|
|
— |
|
U.S. Government bonds and notes |
|
|
9,000 |
|
|
|
9,000 |
|
|
|
— |
|
|
|
— |
|
Corporate bonds, commercial paper and notes |
|
|
6,575 |
|
|
|
6,578 |
|
|
|
— |
|
|
|
(3 |
) |
Total cash equivalents |
|
|
35,017 |
|
|
|
35,020 |
|
|
|
— |
|
|
|
(3 |
) |
Total cash and cash equivalents |
|
|
110,531 |
|
|
|
110,534 |
|
|
|
— |
|
|
|
(3 |
) |
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Time deposits |
|
|
18,200 |
|
|
|
18,200 |
|
|
|
— |
|
|
|
— |
|
U.S. Government bonds and notes |
|
|
147,615 |
|
|
|
149,084 |
|
|
|
— |
|
|
|
(1,469 |
) |
Non-U.S. Government bonds and notes |
|
|
7,841 |
|
|
|
7,884 |
|
|
|
— |
|
|
|
(43 |
) |
Corporate bonds, commercial paper and notes |
|
|
492,720 |
|
|
|
494,493 |
|
|
|
1 |
|
|
|
(1,774 |
) |
Total marketable securities |
|
|
666,376 |
|
|
|
669,661 |
|
|
|
1 |
|
|
|
(3,286 |
) |
Total cash, cash equivalents and marketable securities |
|
$ |
776,907 |
|
|
$ |
780,195 |
|
|
$ |
1 |
|
|
$ |
(3,289 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
(In thousands) |
|
Fair Value |
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
Cash |
|
$ |
67,833 |
|
|
$ |
67,833 |
|
|
$ |
— |
|
|
$ |
— |
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
|
47,277 |
|
|
|
47,277 |
|
|
|
— |
|
|
|
— |
|
U.S. Government bonds and notes |
|
|
16,936 |
|
|
|
16,932 |
|
|
|
4 |
|
|
|
— |
|
Corporate bonds, commercial paper and notes |
|
|
50,780 |
|
|
|
50,780 |
|
|
|
3 |
|
|
|
(3 |
) |
Total cash equivalents |
|
|
114,993 |
|
|
|
114,989 |
|
|
|
7 |
|
|
|
(3 |
) |
Total cash and cash equivalents |
|
|
182,826 |
|
|
|
182,822 |
|
|
|
7 |
|
|
|
(3 |
) |
Marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Time deposits |
|
|
15,540 |
|
|
|
15,540 |
|
|
|
— |
|
|
|
— |
|
U.S. Government bonds and notes |
|
|
161,361 |
|
|
|
161,231 |
|
|
|
180 |
|
|
|
(50 |
) |
Non-U.S. Government bonds and notes |
|
|
3,983 |
|
|
|
3,980 |
|
|
|
3 |
|
|
|
— |
|
Corporate bonds, commercial paper and notes |
|
|
398,121 |
|
|
|
397,755 |
|
|
|
429 |
|
|
|
(63 |
) |
Total marketable securities |
|
|
579,005 |
|
|
|
578,506 |
|
|
|
612 |
|
|
|
(113 |
) |
Total cash, cash equivalents and marketable securities |
|
$ |
761,831 |
|
|
$ |
761,328 |
|
|
$ |
619 |
|
|
$ |
(116 |
) |
|
| Schedule of Available-For-Sale Securities Reported at Fair Value |
Available-for-sale securities are reported at fair value on the balance sheets and classified along with cash as follows:
|
|
|
|
|
|
|
|
|
|
|
As of |
|
(In thousands) |
|
September 30, 2026 |
|
|
December 31, 2025 |
|
Cash |
|
$ |
75,514 |
|
|
$ |
67,833 |
|
Cash equivalents |
|
|
35,017 |
|
|
|
114,993 |
|
Total cash and cash equivalents |
|
|
110,531 |
|
|
|
182,826 |
|
Marketable securities |
|
|
666,376 |
|
|
|
579,005 |
|
Total cash, cash equivalents and marketable securities |
|
$ |
776,907 |
|
|
$ |
761,831 |
|
|
| Schedule of Estimated Fair Value and Gross Unrealized Losses of Cash Equivalents and Marketable Securities, Classified by Length of Time in Continuous Unrealized Loss Position |
The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position as of September 30, 2026 and December 31, 2025 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value |
|
|
Gross Unrealized Losses |
|
(In thousands) |
|
September 30,
2026 |
|
|
December 31,
2025 |
|
|
September 30,
2026 |
|
|
December 31,
2025 |
|
Less than 12 months |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government bonds and notes |
|
$ |
144,429 |
|
|
$ |
38,473 |
|
|
$ |
(1,450 |
) |
|
$ |
(48 |
) |
Non-U.S. Government bonds and notes |
|
|
7,841 |
|
|
|
— |
|
|
|
(43 |
) |
|
|
— |
|
Corporate bonds, commercial paper and notes |
|
|
494,804 |
|
|
|
88,597 |
|
|
|
(1,777 |
) |
|
|
(65 |
) |
Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months |
|
|
647,074 |
|
|
|
127,070 |
|
|
|
(3,270 |
) |
|
|
(113 |
) |
12 months or greater |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government bonds and notes |
|
|
3,186 |
|
|
|
1,692 |
|
|
|
(19 |
) |
|
|
(2 |
) |
Corporate bonds, commercial paper and notes |
|
|
— |
|
|
|
1,660 |
|
|
|
— |
|
|
|
(1 |
) |
Total marketable securities in a continuous unrealized loss position for 12 months or greater |
|
|
3,186 |
|
|
|
3,352 |
|
|
|
(19 |
) |
|
|
(3 |
) |
Total cash equivalents and marketable securities in a continuous unrealized loss position |
|
$ |
650,260 |
|
|
$ |
130,422 |
|
|
$ |
(3,289 |
) |
|
$ |
(116 |
) |
|