| Schedule of Financial Assets Measured at Fair Value on Recurring Basis |
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicate the fair value hierarchy classification of such fair values as of September 30, 2026 and December 31, 2025 (in thousands):
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Fair Value Measurements at |
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September 30, 2026 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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Cash and cash equivalents: |
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Cash |
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$ |
161,633 |
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$ |
161,633 |
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|
$ |
— |
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|
$ |
— |
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Money market funds |
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|
30,394 |
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|
30,394 |
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|
|
— |
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|
|
— |
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Marketable securities: |
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Corporate debt securities |
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1,377,384 |
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|
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— |
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1,377,384 |
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|
— |
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Certificates and term deposits |
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322,236 |
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— |
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|
322,236 |
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|
— |
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Government-sponsored enterprise securities |
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|
303,540 |
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— |
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|
303,540 |
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|
|
— |
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Commercial paper |
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59,286 |
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|
|
— |
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|
59,286 |
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|
|
— |
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Corporate equity securities |
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22,096 |
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|
|
17,437 |
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|
|
4,659 |
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|
|
— |
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Total |
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$ |
2,276,569 |
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|
$ |
209,464 |
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|
$ |
2,067,105 |
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|
$ |
— |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements at |
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|
|
December 31, 2025 |
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|
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Total |
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|
Level 1 |
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|
Level 2 |
|
|
Level 3 |
|
Cash and cash equivalents: |
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|
|
|
|
|
|
|
|
|
|
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Cash |
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$ |
295,412 |
|
|
$ |
295,412 |
|
|
$ |
— |
|
|
$ |
— |
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Money market funds |
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|
37,255 |
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|
|
37,255 |
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|
|
— |
|
|
|
— |
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Commercial paper |
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|
14,892 |
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|
|
— |
|
|
|
14,892 |
|
|
|
— |
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Marketable securities: |
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|
|
|
|
|
|
|
|
|
|
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Corporate debt securities |
|
|
1,155,965 |
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|
|
— |
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|
|
1,155,965 |
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|
|
— |
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Certificates of deposit |
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101,100 |
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— |
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|
101,100 |
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|
|
— |
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Government-sponsored enterprise securities |
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|
305,298 |
|
|
|
— |
|
|
|
305,298 |
|
|
|
— |
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Commercial paper |
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|
49,460 |
|
|
|
— |
|
|
|
49,460 |
|
|
|
— |
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Corporate equity securities |
|
|
16,446 |
|
|
|
— |
|
|
|
16,446 |
|
|
|
— |
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Total |
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$ |
1,975,828 |
|
|
$ |
332,667 |
|
|
$ |
1,643,161 |
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|
$ |
— |
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| Aggregate Face Values and the Fair values of the Notes |
The following table presents the aggregate face values and the fair values of the Notes, based on their market prices on the last trading day for the periods presented (in thousands):
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|
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|
|
|
September 30, 2026 |
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December 31, 2025 |
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Aggregate Face Values |
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Estimated Fair Values |
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Aggregate Face Values |
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Estimated Fair Values |
|
Notes |
|
$ |
600,000 |
|
|
$ |
629,868 |
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|
$ |
— |
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|
$ |
— |
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