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Cash Equivalents and Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2025
Cash Equivalents And Marketable Securities [Abstract]  
Schedule of Cash Equivalent and Marketable Securities

Cash equivalents and marketable securities consisted of the following:

 

 

 

June 30, 2025

 

 

 

Amortized
Cost Basis

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Estimated Fair
Value

 

 

 

(in thousands)

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

331,772

 

 

$

 

 

$

 

 

$

331,772

 

Treasury bills

 

 

31,365

 

 

 

1

 

 

 

 

 

 

31,366

 

Agency discount notes

 

 

14,969

 

 

 

 

 

 

 

 

 

14,969

 

Total cash equivalents

 

$

378,106

 

 

$

1

 

 

$

 

 

$

378,107

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Treasury bills

 

 

7,939

 

 

 

 

 

 

 

 

 

7,939

 

Total marketable securities

 

 

7,939

 

 

 

 

 

 

 

 

 

7,939

 

Total cash equivalents and marketable
   securities

 

$

386,045

 

 

$

1

 

 

$

 

 

$

386,046

 

 

 

 

December 31, 2024

 

 

 

Amortized
Cost Basis

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Estimated Fair
Value

 

 

 

(in thousands)

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

294,872

 

 

$

 

 

$

 

 

$

294,872

 

Treasury bills

 

 

20,710

 

 

 

4

 

 

 

 

 

 

20,714

 

Agency discount notes

 

 

44,201

 

 

 

4

 

 

 

 

 

 

44,205

 

Total cash equivalents

 

$

359,783

 

 

$

8

 

 

$

 

 

$

359,791