v3.25.4

Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements of Financial Assets and Liabilities | The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at December 31, 2025 and December 31, 2024:
|  | December 31, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 191,494 |  |  | $ | — |  |  | $ | — |  |  | $ | 191,494 |
Corporate bonds |  |  | — |  |  |  | 253,765 |  |  |  | — |  |  |  | 253,765 |
U.S. Government agency securities |  |  | — |  |  |  | 45,710 |  |  |  | — |  |  |  | 45,710 |
U.S. Treasury securities |  |  | — |  |  |  | 658,739 |  |  |  | — |  |  |  | 658,739 |
Strategic investments |  |  | — |  |  |  | — |  |  |  | 19,076 |  |  |  | 19,076 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  | — |  |  |  | 2,703 |  |  |  | — |  |  |  | 2,703 |
Prepaid expenses and other current assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivative assets |  |  | — |  |  |  | 240 |  |  |  | — |  |  |  | 240 |
Total assets |  | $ | 191,494 |  |  | $ | 961,157 |  |  | $ | 19,076 |  |  | $ | 1,171,727 |
Accrued expenses and other current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivative liabilities |  | $ | — |  |  | $ | 381 |  |  | $ | — |  |  | $ | 381 |
Total |  | $ | — |  |  | $ | 381 |  |  | $ | — |  |  | $ | 381 |
|  | December 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 64,109 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,109 |
Commercial paper |  |  | — |  |  |  | 4,941 |  |  |  | — |  |  |  | 4,941 |
Corporate bonds |  |  | — |  |  |  | 284,575 |  |  |  | — |  |  |  | 284,575 |
U.S. Government agency securities |  |  | — |  |  |  | 117,369 |  |  |  | — |  |  |  | 117,369 |
U.S. Treasury securities |  |  | — |  |  |  | 1,307,363 |  |  |  | — |  |  |  | 1,307,363 |
Strategic investments |  |  | — |  |  |  | — |  |  |  | 9,409 |  |  |  | 9,409 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  | — |  |  |  | 4,053 |  |  |  | — |  |  |  | 4,053 |
Total assets |  | $ | 64,109 |  |  | $ | 1,718,301 |  |  | $ | 9,409 |  |  | $ | 1,791,819 |
Accrued expenses and other current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivative liabilities |  |  | — |  |  |  | 584 |  |  |  | — |  |  |  | 584 |
Total |  | $ | — |  |  | $ | 584 |  |  | $ | — |  |  | $ | 584 |

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + 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 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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