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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):

			Fair Value Measurement as of March 31, 2025
			Level 1						Level 2						Level 3						Total
Financial Assets:
Cash equivalents:
Money market funds			$	714,073					$	—					$	—					$	714,073
Commercial paper			—						296,544						—						296,544
Certificates of deposit			—						11,916						—						11,916
U.S. government treasury securities			—						29,653						—						29,653
Marketable Securities:
Corporate debt securities			—						2,344,055						—						2,344,055
Commercial paper			—						419,901						—						419,901
U.S. government treasury securities			—						399,219						—						399,219
Certificates of deposit			—						205,150						—						205,150
U.S. government agency securities			—						1,495						—						1,495
Total financial assets			$	714,073					$	3,707,933					$	—					$	4,422,006

			Fair Value Measurement as of December 31, 2024
			Level 1						Level 2						Level 3						Total
Financial Assets:
Cash equivalents:
Money market funds			$	1,193,927					$	—					$	—					$	1,193,927
Corporate debt securities			—						2,502						—						2,502
U.S. government treasury securities			—						9,088						—						9,088
Marketable Securities:
Corporate debt securities			—						1,896,041						—						1,896,041
Commercial paper			—						390,283						—						390,283
Certificates of deposit			—						187,802						—						187,802
U.S. government treasury securities			—						466,460						—						466,460
U.S. government agency securities			—						1,490						—						1,490
Total financial assets			$	1,193,927					$	2,953,666					$	—					$	4,147,593

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- References

No definition available.

+ Details

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