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Investments (Tables)
3 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Cost, Gross Unrealized Gains and Losses, and Fair Value of Investments
The cost, gross unrealized gains and losses, and fair value of investments are as follows (in thousands):
As of June 30, 2023
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Cash equivalents:
Corporate notes and bonds$4,070 $— $— $4,070 
Money market funds247,279 — — 247,279 
Total cash equivalents251,349 — — 251,349 
Marketable securities:
Asset-backed securities12,954 (34)12,921 
Certificates of deposit27,379 (58)27,322 
Commercial paper59,054 (82)58,975 
Corporate notes and bonds87,064 92 (345)86,811 
Sovereign bonds7,745 — (358)7,387 
U.S. government and agency securities388,767 — (15,739)373,028 
Total marketable securities582,963 97 (16,616)566,444 
Total cash equivalents and marketable securities$834,312 $97 $(16,616)$817,793 
The cost, gross unrealized gains and losses, and fair value of investments were as follows (in thousands):
As of March 31, 2023
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Cash equivalents:
Money market funds$126,275 $— $— $126,275 
Total cash equivalents126,275 — — 126,275 
Marketable securities:
Asset-backed securities7,271 — (71)7,200 
Certificates of deposit27,380 — (80)27,300 
Commercial paper78,609 (126)78,489 
Corporate notes and bonds119,241 49 (778)118,512 
Sovereign bonds7,744 — (360)7,384 
U.S. government and agency securities461,584 12 (17,509)444,087 
Total marketable securities701,829 67 (18,924)682,972 
Total cash equivalents and marketable securities$828,104 $67 $(18,924)$809,247 
Contractual Maturities of Available-For-Sale Debt Securities
As of June 30, 2023, the contractual maturities of the Company’s available-for-sale debt securities were as follows (in thousands):
Fair Value
Due within one year$420,066 
Due in one year to two years137,527 
Asset-backed securities12,921 
Total$570,514