v3.25.4

Marketable Securities (Tables) | 12 Months Ended
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Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Fair Value and Amortized Cost of Marketable Securities | The following tables summarize the fair values of the Company’s marketable securities (in thousands):
| December 31, 2025
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
U.S. treasury securities | $ | 713,351 |  |  | $ | 1,295 |  |  | $ | (11) |  |  | $ | 714,635 |
Corporate notes and bonds | 493,944 |  |  | 2,067 |  |  | (38) |  |  | 495,973 |
U.S. agency obligations | 314,381 |  |  | 571 |  |  | (110) |  |  | 314,842 |
Commercial paper | 170,926 |  |  | — |  |  | — |  |  | 170,926 |
Time deposits | 10,386 |  |  | — |  |  | — |  |  | 10,386 |
Total marketable securities | $ | 1,702,988 |  |  | $ | 3,933 |  |  | $ | (159) |  |  | $ | 1,706,762 |
| December 31, 2024
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
U.S. treasury securities | $ | 667,102 |  |  | $ | 1,022 |  |  | $ | (473) |  |  | $ | 667,651 |
Corporate notes and bonds | 514,655 |  |  | 1,157 |  |  | (199) |  |  | 515,613 |
U.S. agency obligations | 253,886 |  |  | 402 |  |  | (353) |  |  | 253,935 |
Commercial paper | 80,357 |  |  | 21 |  |  | — |  |  | 80,378 |
Time deposits | 7,006 |  |  | — |  |  | — |  |  | 7,006 |
Total marketable securities | $ | 1,523,006 |  |  | $ | 2,602 |  |  | $ | (1,025) |  |  | $ | 1,524,583 |
Schedule of Fair Values and Unrealized Losses on Marketable Securities | The following tables summarize the fair values and unrealized losses of the Company’s marketable securities, classified by the length of time that the securities have been in a continuous unrealized loss position (in thousands):
| December 31, 2025
| Less than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. agency obligations | $ | 94,786 |  |  | $ | (107) |  |  | $ | 4,741 |  |  | $ | (3) |  |  | $ | 99,527 |  |  | $ | (110) |
Corporate notes and bonds | 21,617 |  |  | (38) |  |  | — |  |  | — |  |  | 21,617 |  |  | (38) |
U.S. treasury securities | 37,240 |  |  | (11) |  |  | 4,988 |  |  | — |  |  | 42,228 |  |  | (11) |
Total | $ | 153,643 |  |  | $ | (156) |  |  | $ | 9,729 |  |  | $ | (3) |  |  | $ | 163,372 |  |  | $ | (159) |
| December 31, 2024
| Less than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. treasury securities | $ | 135,641 |  |  | $ | (473) |  |  | $ | — |  |  | $ | — |  |  | $ | 135,641 |  |  | $ | (473) |
U.S. agency obligations | 114,378 |  |  | (353) |  |  | — |  |  | — |  |  | 114,378 |  |  | (353) |
Corporate notes and bonds | 89,794 |  |  | (191) |  |  | 18,813 |  |  | (8) |  |  | 108,607 |  |  | (199) |
Total | $ | 339,813 |  |  | $ | (1,017) |  |  | $ | 18,813 |  |  | $ | (8) |  |  | $ | 358,626 |  |  | $ | (1,025) |
Schedule of Fair Value and Amortized Cost of Contractual Maturities | The following table summarizes the contractual maturities of the Company’s marketable securities (in thousands):
| December 31, 2025
| Amortized Cost |  | Fair Value
Due within one year | $ | 1,126,105 |  |  | $ | 1,128,039 |
Due after one year through five years | 576,883 |  |  | 578,723 |
Total | $ | 1,702,988 |  |  | $ | 1,706,762 |

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