v3.26.3
Cash Equivalents and Investments (Tables)
9 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Marketable Securities
Cash equivalents and marketable securities consisted of the following as of the periods presented below (in thousands):
September 30, 2026
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents:
Money market funds$282,745 $— $— $282,745 
U.S. treasury securities38,296 — (3)38,293 
U.S. government agency securities16,800 — (4)16,796 
Commercial paper
77,517 — — 77,517 
Total cash equivalents415,358 — (7)415,351 
Marketable securities:
U.S. treasury securities40,602 — (44)40,558 
U.S. government agency securities27,598 — (50)27,548 
Corporate debt securities13,326 — (20)13,306 
Commercial paper
13,518 — (1)13,517 
Certificates of deposit
134,613 — — 134,613 
Total marketable securities229,657 — (115)229,542 
Total cash equivalents and marketable securities$645,015 $— $(122)$644,893 
December 31, 2025
Amortized CostUnrealized GainsUnrealized LossesFair Value
Cash equivalents:
Money market funds$120,923 $— $— $120,923 
U.S. treasury securities100,235 16 — 100,251 
U.S. government agency securities26,168 3 (1)26,170 
Corporate debt securities47,466 — — 47,466 
Certificates of deposit
129,875 — — 129,875 
Total cash equivalents424,667 19 (1)424,685 
Marketable securities:
U.S. treasury securities131,286 102 (9)131,379 
U.S. government agency securities30,868 40 — 30,908 
Corporate debt securities36,878 69 (6)36,941 
Commercial paper
12,369 — — 12,369 
Total marketable securities211,401 211 (15)211,597 
Total cash equivalents and marketable securities$636,068 $230 $(16)$636,282 
Schedule of Available-For-Sale, Unrealized Loss Position, Fair Value
The following table presents gross unrealized losses and fair values for the securities that were in a continuous unrealized loss position as of the periods presented below (in thousands):
September 30, 2026
Less than 12 monthsGreater than 12 monthsTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
U.S. treasury securities$32,190 $(44)$5,000 $— $37,190 $(44)
U.S. government agency securities27,548 (50)— — 27,548 (50)
Commercial paper1,443 (1)— — 1,443 (1)
Corporate debt securities11,438 (20)— — 11,438 (20)
Total$72,619 $(115)$5,000 $— $77,619 $(115)
December 31, 2025
Less Than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
U.S. treasury securities$21,500 $(9)$— $— $21,500 $(9)
Corporate debt securities7,495 (6)— — 7,495 (6)
Total$28,995 $(15)$— $— $28,995 $(15)
Schedule of Amortized Costs and Fair Value of Debt Securities Based on Contractual Maturities
The amortized cost and fair value of the available-for-sale debt securities based on contractual maturities are as follows (in thousands):
September 30, 2026
Amortized CostFair Value
Due within one year$226,664 $226,570 
Due after one year but within five years2,993 2,972 
Total$229,657 $229,542