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Marketable Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Summary of Cash Equivalents and Marketable Securities Recorded at Fair Value | A summary of the Company’s cash equivalents and marketable securities as of December 31, 2024 and 2023, which are recorded at fair value (and excludes $193.9 million and $197.8 million of cash at December 31, 2024 and 2023, respectively) is shown below (in thousands):
December 31, 2024 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 74,155 |  |  | $ | — |  |  | $ | — |  |  | $ | 74,155 |
Corporate debt securities |  |  | 882 |  |  |  | — |  |  |  | — |  |  |  | 882 |
Commercial paper |  |  | 29,271 |  |  |  | — |  |  |  | (9 | ) |  |  | 29,262 |
Total cash equivalents |  |  | 104,308 |  |  |  | — |  |  |  | (9 | ) |  |  | 104,299 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 5,936 |  |  |  | 2 |  |  |  | — |  |  |  | 5,938 |
Corporate debt securities |  |  | 1,136,255 |  |  |  | 3,442 |  |  |  | (1,592 | ) |  |  | 1,138,105 |
Certificates of deposit |  |  | 52,372 |  |  |  | — |  |  |  | — |  |  |  | 52,372 |
Government-sponsored enterprise securities |  |  | 266,877 |  |  |  | 482 |  |  |  | (497 | ) |  |  | 266,862 |
Commercial paper |  |  | 127,805 |  |  |  | 34 |  |  |  | (39 | ) |  |  | 127,800 |
Total marketable debt securities |  |  | 1,589,245 |  |  |  | 3,960 |  |  |  | (2,128 | ) |  |  | 1,591,077 |
Corporate equity securities |  |  | 10,387 |  |  |  | 4,600 |  |  |  | (495 | ) |  |  | 14,492 |
Total marketable securities |  |  | 1,599,632 |  |  |  | 8,560 |  |  |  | (2,623 | ) |  |  | 1,605,569 |
Total cash equivalents and marketable securities |  | $ | 1,703,940 |  |  | $ | 8,560 |  |  | $ | (2,632 | ) |  | $ | 1,709,868 |
December 31, 2023 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 185,990 |  |  | $ | — |  |  | $ | — |  |  | $ | 185,990 |
U.S. Treasury securities |  |  | 5,731 |  |  |  | — |  |  |  | — |  |  |  | 5,731 |
Total cash equivalents |  |  | 191,721 |  |  |  | — |  |  |  | — |  |  |  | 191,721 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 22,963 |  |  |  | 45 |  |  |  | — |  |  |  | 23,008 |
Corporate debt securities |  |  | 883,550 |  |  |  | 3,367 |  |  |  | (1,559 | ) |  |  | 885,358 |
Certificates of deposit |  |  | 47,282 |  |  |  | — |  |  |  | — |  |  |  | 47,282 |
Government-sponsored enterprise securities |  |  | 195,106 |  |  |  | 377 |  |  |  | (352 | ) |  |  | 195,131 |
Commercial paper |  |  | 155,403 |  |  |  | 32 |  |  |  | (26 | ) |  |  | 155,409 |
Total marketable securities |  |  | 1,304,304 |  |  |  | 3,821 |  |  |  | (1,937 | ) |  |  | 1,306,188 |
Total cash equivalents and marketable securities |  | $ | 1,496,025 |  |  | $ | 3,821 |  |  | $ | (1,937 | ) |  | $ | 1,497,909 |

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