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Cash, Cash Equivalents, Restricted Cash And Investments (Tables) | 3 Months Ended
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Mar. 31, 2025
Cash and Cash Equivalents [Abstract] |
Summary of Unrealized Gains and Losses and Estimated Fair Value of Cash Equivalents and Investments | The following table summarizes the Company’s unrealized gains and losses and estimated fair value of cash, cash equivalents, restricted cash and investments in available-for-sale securities recorded in the condensed consolidated balance sheets (in thousands):
|  | As of March 31, 2025 |  |  | As of December 31, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Cash and money market funds |  | $ | 24,871 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,871 |  |  | $ | 33,204 |  |  | $ | — |  |  | $ | — |  |  | $ | 33,204 |
Corporate notes and bonds |  |  | 13,923 |  |  |  | 14 |  |  |  | (5 | ) |  |  | 13,932 |  |  |  | 45,823 |  |  |  | 22 |  |  |  | (53 | ) |  |  | 45,792 |
US government and agency |  |  | 661,029 |  |  |  | 210 |  |  |  | (216 | ) |  |  | 661,023 |  |  |  | 287,084 |  |  |  | 319 |  |  |  | (118 | ) |  |  | 287,285 |
Total cash, cash equivalents, restricted cash and investments |  | $ | 699,823 |  |  | $ | 224 |  |  | $ | (221 | ) |  | $ | 699,826 |  |  | $ | 366,111 |  |  | $ | 341 |  |  | $ | (171 | ) |  | $ | 366,281 |
Summary of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value |
|  | As of March 31, 2025 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Loses |
Corporate notes and bonds |  | $ | — |  |  | $ | — |  |  | $ | 3,985 |  |  | $ | (5 | ) |  | $ | 3,985 |  |  | $ | (5 | )
US government and agency |  |  | 425,697 |  |  |  | (211 | ) |  |  | 1,995 |  |  |  | (5 | ) |  |  | 427,692 |  |  |  | (216 | )
Total |  | $ | 425,697 |  |  | $ | (211 | ) |  | $ | 5,980 |  |  | $ | (10 | ) |  | $ | 431,677 |  |  | $ | (221 | )
|  | As of December 31, 2024 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Loses |
Corporate notes and bonds |  | $ | — |  |  | $ | — |  |  | $ | 24,396 |  |  | $ | (53 | ) |  | $ | 24,396 |  |  | $ | (53 | )
US government and agency |  |  | 67,600 |  |  |  | (111 | ) |  |  | 3,987 |  |  |  | (7 | ) |  |  | 71,587 |  |  |  | (118 | )
Total |  | $ | 67,600 |  |  | $ | (111 | ) |  | $ | 28,383 |  |  | $ | (60 | ) |  | $ | 95,983 |  |  | $ | (171 | )
Schedule of Contractual Maturity Date of Cash Cash Equivalents, Restricted Cash and Investments in Available-for-Sale Securities | The estimated fair value of the Company’s cash, cash equivalents, restricted cash and investments in available-for-sale securities as of March 31, 2025, aggregated by investment category and classified by contractual maturity date, is as follows (in thousands):
|  | 1 Year or Less |  |  | Greater than 1 Year |  |  | Total |
Cash and money market funds |  | $ | 22,262 |  |  | $ | 2,609 |  |  | $ | 24,871 |
Corporate notes and bonds |  |  | 13,932 |  |  |  | — |  |  |  | 13,932 |
US government and agency |  |  | 552,162 |  |  |  | 108,861 |  |  |  | 661,023 |
Total |  | $ | 588,356 |  |  | $ | 111,470 |  |  | $ | 699,826 |

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