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Investments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Marketable Securities

Available-for-sale marketable securities held as of December 31, 2024 and 2023 were as follows (in thousands):

									Gross Unrealized												Aggregate Fair Value						Classification on Balance Sheet
			Amortized Cost																								Short-Term Marketable Securities						Long-Term Marketable Securities
As of December 31, 2024									Gains						Losses
Time deposits			$	11,330					$	—					$	—					$	11,330					$	11,330					$	—
Corporate bonds			1,003,915						1,369						(307)						1,004,977						808,800						196,177
U.S. government agency obligations			303,816						567						(36)						304,347						249,318						55,029
			$	1,319,061					$	1,936					$	(343)					$	1,320,654					$	1,069,448					$	251,206
As of December 31, 2023
Time deposits			$	14,426					$	—					$	—					$	14,426					$	14,426					$	—
Commercial paper			6,249						—						(5)						6,244						6,244						—
Corporate bonds			1,328,980						6,429						(4,201)						1,331,208						276,975						1,054,233
U.S. government agency obligations			428,157						2,462						(979)						429,640						74,369						355,271
			$	1,777,812					$	8,891					$	(5,185)					$	1,781,518					$	372,014					$	1,409,504

Schedule of Fair Value Measurement Within Fair Value Hierarchy

The fair value measurements within the fair value hierarchy of the Company’s financial assets as of December 31, 2024 and 2023 were as follows (in thousands): 

			Total Fair Value						Fair Value Measurements at Reporting Date Using
									Level 1						Level 2
As of December 31, 2024
Cash Equivalents and Marketable Securities:
Money market funds			$	163,722					$	163,722					$	—
Time deposits			64,202						—						64,202
Corporate bonds			1,004,977						—						1,004,977
U.S. government agency obligations			304,347						—						304,347
Mutual funds			26,580						26,580						—
			$	1,563,828					$	190,302					$	1,373,526
As of December 31, 2023
Cash Equivalents and Marketable Securities:
Money market funds			$	177,240					$	177,240					$	—
Time deposits			39,670						—						39,670
Commercial paper			6,244						—						6,244
Corporate bonds			1,331,208						—						1,331,208
U.S. government agency obligations			429,640						—						429,640
Mutual funds			22,942						22,942						—
			$	2,006,944					$	200,182					$	1,806,762

Schedule of Contractual Maturities of Marketable Securities and Other Investment Related Assets

Contractual maturities of the Company’s available-for-sale marketable securities held as of December 31, 2024 and 2023 were as follows (in thousands):

			December 31, 2024						December 31, 2023
Due in 1 year or less			$	1,069,448					$	372,014
Due after 1 year through 5 years			251,206						1,409,504
			$	1,320,654					$	1,781,518

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