Marketable Securities (Tables)

9 Months Ended

Sep. 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:


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

Maturing in one year or less
Corporate bonds		$	84,419				—			$	(415	)		$	84,004
Yankee bonds			2,509				—				(16	)			2,493
U.S. Treasuries			147,676				—				(559	)			147,117
U.S. Treasury bills			55,623				—				(50	)			55,573
Maturing after one year through five years
Corporate bonds			24,692				—				(250	)			24,442
U.S. Treasuries			89,500				—				(555	)			88,945
Total		$	404,419			$	—			$	(1,845	)		$	402,574


		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


		September 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		$	108,446			$	(665	)			—				—			$	108,446			$	(665	)
U.S. Treasury bills			55,573				(50	)			—				—				55,573				(50	)
U.S. Treasuries			236,062				(1,114	)			—				—				236,062				(1,114	)
Yankee bonds			2,493				(16	)			—				—				2,493				(16	)
Total		$	402,574			$	(1,845	)		$	—			$	—			$	402,574			$	(1,845	)