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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured on Recurring Basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities, which are measured at fair value on a recurring basis (in thousands):

		Fair Value Measurements at December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets:
Cash equivalents		$	251,567			$	—			$	—			$	251,567
Marketable securities:
Commercial paper			—				107,884				—				107,884
Corporate bonds			—				774,506				—				774,506
Government and agency securities			—				207,990				—				207,990
U.S. treasury bills			—				19,827				—				19,827
		$	251,567			$	1,110,207			$	—			$	1,361,774
Liabilities:
Related party revenue share liability		$	—			$	—			$	73,160			$	73,160

		Fair Value Measurements at December 31, 2024
		Level 1				Level 2				Level 3				Total
Assets:
Cash equivalents		$	135,902			$	—			$	—			$	135,902
Marketable securities:
Commercial paper			—				251,309				—				251,309
Corporate bonds			—				468,617				—				468,617
Government and agency securities			—				162,886				—				162,886
U.S. treasury bills			—				89,799				—				89,799
		$	135,902			$	972,611			$	—			$	1,108,513
Liabilities:
Related party revenue share liability		$	—			$	—			$	17,940			$	17,940

Schedule of Estimated Fair Value of Company's Related Party Revenue Share Liability

The following table sets forth the changes in estimated fair value of the Company’s related party revenue share liability for the year ended December 31, 2025, which represents a Level 3 measurement within the fair value hierarchy (in thousands):

Estimated fair value as of December 31, 2024		$	17,940
Change in fair value			55,220
Estimated fair value as of December 31, 2025		$	73,160

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- References

No definition available.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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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