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v3.25.4

Marketable Securities | 12 Months Ended
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Dec. 31, 2025
Marketable Securities [Abstract] |
Marketable Securities | 3. Marketable Securities The following tables provide the amortized cost and fair value of the Company’s available-for-sale securities by security type (in thousands):
|  | December 31, 2025 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 107,889 |  |  | $ | 17 |  |  | $ | (22 | ) |  | $ | 107,884 |
Corporate bonds |  |  | 772,457 |  |  |  | 2,233 |  |  |  | (184 | ) |  |  | 774,506 |
Government and agency securities |  |  | 207,684 |  |  |  | 340 |  |  |  | (34 | ) |  |  | 207,990 |
U.S. treasury bills |  |  | 19,824 |  |  |  | 3 |  |  |  | — |  |  |  | 19,827 |
|  | $ | 1,107,854 |  |  | $ | 2,593 |  |  | $ | (240 | ) |  | $ | 1,110,207 |
|  | December 31, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 251,473 |  |  | $ | 12 |  |  | $ | (176 | ) |  | $ | 251,309 |
Corporate bonds |  |  | 468,673 |  |  |  | 532 |  |  |  | (588 | ) |  |  | 468,617 |
Government and agency securities |  |  | 162,783 |  |  |  | 132 |  |  |  | (29 | ) |  |  | 162,886 |
U.S. treasury bills |  |  | 89,741 |  |  |  | 60 |  |  |  | (2 | ) |  |  | 89,799 |
|  | $ | 972,670 |  |  | $ | 736 |  |  | $ | (795 | ) |  | $ | 972,611 |
The following table summarizes the amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity (in thousands):
|  | December 31, 2025 |
|  | Amortized Cost |  |  | Fair Value |
Due within one year |  | $ | 523,630 |  |  | $ | 524,421 |
Due after one year through three years |  |  | 584,224 |  |  |  | 585,786 |
|  | $ | 1,107,854 |  |  | $ | 1,110,207 |
There were no credit losses recorded during the years ended December 31, 2025, 2024 and 2023. Interest income for the years ended December 31, 2025, 2024 and 2023 was $44.8 million, $38.4 million and $23.3 million, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
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