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v3.26.1

Fair Value Measurements - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2026 | Dec. 31, 2025
--- | --- | ---
Marketable securities: |  |
Gross unrealized gains | $ 221 | $ 2,175
Gross unrealized losses | (4,250) | (149)
Total |  |
Cost or amortized cost | 2,671,645 | 2,384,423
Fair value | 2,667,616 | 2,386,449
U.S. treasury securities |  |
Marketable securities: |  |
Cost or amortized cost | 382,509 | 450,474
Gross unrealized gains | 132 | 1,035
Gross unrealized losses | (1,061) | (2)
Fair value | 381,580 | 451,507
U.S. agency bonds |  |
Marketable securities: |  |
Cost or amortized cost | 428,113 | 410,655
Gross unrealized gains | 0 | 167
Gross unrealized losses | (2,699) | (134)
Fair value | 425,414 | 410,688
Corporate bonds |  |
Marketable securities: |  |
Cost or amortized cost | 272,412 | 306,321
Gross unrealized gains | 87 | 820
Gross unrealized losses | (447) | (13)
Fair value | 272,052 | 307,128
Time deposits |  |
Marketable securities: |  |
Cost or amortized cost | 142,813 | 140,000
Gross unrealized gains | 0 | 0
Gross unrealized losses | 0 | 0
Fair value | 142,813 | 140,000
Commercial paper |  |
Marketable securities: |  |
Cost or amortized cost | 77,701 | 213,767
Gross unrealized gains | 2 | 152
Gross unrealized losses | (43) | 0
Fair value | 77,660 | 213,919
Money market funds |  |
Cash equivalents: |  |
Cost or amortized cost | 1,306,708 | 825,323
Fair value | 1,306,708 | 825,323
U.S. treasury securities |  |
Cash equivalents: |  |
Cost or amortized cost | 34,951 | 11,934
Gross unrealized gains |  | 1
Gross unrealized losses |  | 0
Fair value | 34,951 | 11,935
Time deposits |  |
Cash equivalents: |  |
Cost or amortized cost | 26,438 | 25,949
Fair value | $ 26,438 | $ 25,949

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