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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value

The following table presents information about the Company’s financial assets that are measured at fair value and indicates the fair value hierarchy of the valuation:

		March 31, 2025
		Total				Level 1				Level 2				Level 3
		(in thousands)
Assets:
Money market funds		$	247,266			$	247,266			$	—			$	—
Commercial paper			210,544				—				210,544				—
Certificates of deposit			3,836				—				3,836				—
U.S. government and agency securities			957,821				—				957,821				—
Corporate bonds			684,991				—				684,991				—
Total		$	2,104,458			$	247,266			$	1,857,192			$	—
Liabilities:
Warrant liabilities			750				420				330				—
Total		$	750			$	420			$	330			$	—
		December 31, 2024
		Total				Level 1				Level 2				Level 3
		(in thousands)
Assets:
Money market funds		$	409,233			$	409,233			$	—			$	—
Commercial paper			245,658				—				245,658				—
Certificates of deposit			9,048				—				9,048				—
U.S. government and agency securities			1,051,754				—				1,051,754				—
Corporate bonds			571,654				—				571,654				—
Total		$	2,287,347			$	409,233			$	1,878,114			$	—
Liabilities:
Warrant liabilities			3,189				1,784				1,405				—
Total		$	3,189			$	1,784			$	1,405			$	—

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ 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

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X

- References

No definition available.

+ Details

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