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Marketable Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Marketable Securities [Abstract]  
Summary of Marketable securities by Security

The following tables provide the amortized cost and fair value of the Company’s available-for-sale securities by security type (in thousands):

 

 

September 30, 2024

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

191,922

 

 

$

33

 

 

$

(73

)

 

$

191,882

 

Corporate bonds

 

 

408,501

 

 

 

1,490

 

 

 

(150

)

 

 

409,841

 

Government and agency securities

 

 

120,338

 

 

 

141

 

 

 

(35

)

 

 

120,444

 

U.S. treasury bills

 

 

76,931

 

 

 

2

 

 

 

(35

)

 

 

76,898

 

 

$

797,692

 

 

$

1,666

 

 

$

(293

)

 

$

799,065

 

 

 

 

December 31, 2023

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

Commercial paper

 

$

67,098

 

 

$

26

 

 

$

(44

)

 

$

67,080

 

Corporate bonds

 

 

193,876

 

 

 

328

 

 

 

(255

)

 

 

193,949

 

Government and agency securities

 

 

89,044

 

 

 

58

 

 

 

(75

)

 

 

89,027

 

U.S. treasury bills

 

 

34,469

 

 

 

7

 

 

 

(14

)

 

 

34,462

 

 

$

384,487

 

 

$

419

 

 

$

(388

)

 

$

384,518

 
Summary of Contractual Maturities of Available-for-sale Debt Securities

The following table summarizes the amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity (in thousands):

 

September 30, 2024

 

 

 

Amortized Cost

 

 

Fair Value

 

Due within one year

 

$

627,229

 

 

$

627,772

 

Due after one year through three years

 

 

170,463

 

 

 

171,293

 

 

$

797,692

 

 

$

799,065