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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Summary of Fair Value by Balance Sheet Grouping | The following tables present information about the Company’s financial instruments that are measured at fair value on a recurring basis:
|  | March 31, 2026 |
|  | Fair Value |  |  | Level 1 |  |  | Level 2 |
|  | (in thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 23,828 |  |  | $ | 23,828 |  |  | $ | — |
Cash equivalents |  |  | 23,828 |  |  |  | 23,828 |  |  |  | — |
Certificates of deposit |  |  | 1,760 |  |  |  | — |  |  |  | 1,760 |
Commercial paper |  |  | 19,209 |  |  |  | — |  |  |  | 19,209 |
Corporate debt securities |  |  | 288,856 |  |  |  | — |  |  |  | 288,856 |
Municipal securities |  |  | 36,138 |  |  |  | — |  |  |  | 36,138 |
Government and agency debt |  |  | 180,927 |  |  |  | — |  |  |  | 180,927 |
Marketable securities |  |  | 526,890 |  |  |  | — |  |  |  | 526,890 |
Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets |  |  | 3,017 |  |  |  | — |  |  |  | 3,017 |
Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets |  |  | 49 |  |  |  | — |  |  |  | 49 |
Restricted bank deposits included in prepaid expenses and other current assets |  |  | 11 |  |  |  | — |  |  |  | 11 |
Total financial assets |  | $ | 553,795 |  |  | $ | 23,828 |  |  | $ | 529,967 |
Financial Liabilities: |  |  |  |  |  |  |  |  |
Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities |  | $ | 367 |  |  | $ | — |  |  | $ | 367 |
Total financial liabilities |  | $ | 367 |  |  | $ | — |  |  | $ | 367 |
|  | December 31, 2025 |
|  | Fair Value |  |  | Level 1 |  |  | Level 2 |
|  | (in thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 26,407 |  |  | $ | 26,407 |  |  | $ | — |
Cash equivalents |  |  | 26,407 |  |  |  | 26,407 |  |  |  | — |
Certificates of deposit |  |  | 1,503 |  |  |  | — |  |  |  | 1,503 |
Commercial paper |  |  | 11,763 |  |  |  | — |  |  |  | 11,763 |
Corporate debt securities |  |  | 276,036 |  |  |  | — |  |  |  | 276,036 |
Municipal securities |  |  | 29,493 |  |  |  | — |  |  |  | 29,493 |
Government and agency debt |  |  | 162,301 |  |  |  | — |  |  |  | 162,301 |
Marketable securities |  |  | 481,096 |  |  |  | — |  |  |  | 481,096 |
Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets |  |  | 5,170 |  |  |  | — |  |  |  | 5,170 |
Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets |  |  | 448 |  |  |  | — |  |  |  | 448 |
Restricted bank deposits included in prepaid expenses and other current assets |  |  | 11 |  |  |  | — |  |  |  | 11 |
Total financial assets |  | $ | 513,132 |  |  | $ | 26,407 |  |  | $ | 486,725 |
Financial Liabilities: |  |  |  |  |  |  |  |  |
Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities |  | $ | 9 |  |  | $ | — |  |  | $ | 9 |
Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities |  |  | 217 |  |  |  | — |  |  |  | 217 |
Total financial liabilities |  | $ | 226 |  |  | $ | — |  |  | $ | 226 |
The Company classifies its money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its restricted deposits, certificates of deposit, commercial paper, corporate debt securities, municipal securities, government and agency debt, and derivative financial instruments within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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