v3.26.3
Fair Value Measures (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are as follows:

As of September 30, 2026
(in thousands)Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$637 $— $— $637 
U.S. government treasury bills
— 5,000 — 5,000 
Time deposits (1)
— 22,318 — 22,318 
Short-term investments:
Available-for-sale short-term investments: (2)
U.S. government treasury bills
— 9,993 — 9,993 
Other short-term investments:
Money market funds248 — — 248 
Mutual fund shares2,414 — — 2,414 
Prepaid expenses and other current assets:
Derivative financial instruments— 12,323 — 12,323 
Other non-current assets:
Money market funds 3,062 — — 3,062 
Mutual fund shares 34,565 — — 34,565 
Derivative financial instruments— 8,224 — 8,224 
Total assets measured at fair value$40,926 $57,858 $— $98,784 
Liabilities:
Accrued liabilities:
Derivative financial instruments$— $8,079 $— $8,079 
Other long-term liabilities:
Derivative financial instruments— 3,827 — 3,827 
Total liabilities measured at fair value$— $11,906 $— $11,906 
(1) Time deposits are carried at amortized cost on the unaudited Condensed Consolidated Balance Sheets, which reasonably approximates fair value.
(2) Available-for-sale short-term investments have remaining maturities of less than one year.
As of December 31, 2025
(in thousands)Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$76,680 $— $— $76,680 
U.S. government treasury bills
— 50,050 — 50,050 
Commercial paper— 24,856 — 24,856 
Time deposits (1)
— 10,456 — 10,456 
Short-term investments:
Available-for-sale short-term investments: (2)
U.S. government treasury bills — 321,766 — 321,766 
Commercial paper— 24,676 — 24,676 
Other short-term investments:
Money market funds292 — — 292 
Mutual fund shares2,032 — — 2,032 
Prepaid expenses and other current assets:
Derivative financial instruments— 7,039 — 7,039 
Other non-current assets:
Money market funds 3,656 — — 3,656 
Mutual fund shares 31,923 — — 31,923 
Derivative financial instruments— 2,788 — 2,788 
Total assets measured at fair value$114,583 $441,631 $— $556,214 
Liabilities:
Accrued liabilities:
Derivative financial instruments$— $9,795 $— $9,795 
Other long-term liabilities:
Derivative financial instruments— 5,732 — 5,732 
Total liabilities measured at fair value$— $15,527 $— $15,527 
(1) Time deposits are carried at amortized cost on the unaudited Condensed Consolidated Balance Sheets, which reasonably approximates fair value.
(2) Available-for-sale short-term investments have remaining maturities of less than one year.