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v3.26.1

Short-Term Investments (Tables) | 6 Months Ended
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Jun. 30, 2026
Investments, All Other Investments [Abstract] |
Summary of Marketable Securities | Marketable securities consist of the following:
|  | June 30, 2026 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
|  | (in thousands) |
Certificates of deposit |  | $ | 1,755 |  |  | $ | — |  |  | $ | (11 | ) |  | $ | 1,744 |
Commercial paper |  |  | 20,215 |  |  |  | — |  |  |  | (23 | ) |  |  | 20,192 |
Corporate debt securities |  |  | 308,351 |  |  |  | 42 |  |  |  | (836 | ) |  |  | 307,557 |
Municipal securities |  |  | 33,955 |  |  |  | 2 |  |  |  | (126 | ) |  |  | 33,831 |
Government and agency debt |  |  | 191,614 |  |  |  | 8 |  |  |  | (588 | ) |  |  | 191,034 |
Total marketable securities |  | $ | 555,890 |  |  | $ | 52 |  |  | $ | (1,584 | ) |  | $ | 554,358 |
|  | December 31, 2025 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
|  | (in thousands) |
Certificates of deposit |  | $ | 1,503 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,503 |
Commercial paper |  |  | 11,764 |  |  |  | 2 |  |  |  | (3 | ) |  |  | 11,763 |
Corporate debt securities |  |  | 275,555 |  |  |  | 531 |  |  |  | (50 | ) |  |  | 276,036 |
Municipal securities |  |  | 29,460 |  |  |  | 43 |  |  |  | (10 | ) |  |  | 29,493 |
Government and agency debt |  |  | 162,162 |  |  |  | 174 |  |  |  | (35 | ) |  |  | 162,301 |
Total marketable securities |  | $ | 480,444 |  |  | $ | 750 |  |  | $ | (98 | ) |  | $ | 481,096 |
Summary of Company's Marketable Securities by Contractual Maturities | The following table summarizes the Company’s marketable securities by contractual maturities:
|  | June 30, 2026 |
|  | (in thousands) |
Due in 1 year or less |  | $ | 306,145 |
Due in 1 year through 3 years |  |  | 248,213 |
Total |  | $ | 554,358 |
Summary of Presents Fair Value and Gross Unrealized Losses of the Company's Marketable Securities | The following tables present fair value and gross unrealized losses of the Company’s marketable securities that have been in a continuous loss position, aggregated by length of time:
|  | June 30, 2026 |  |  | December 31, 2025 |
|  | Less Than 12 Months |  |  | Less Than 12 Months |
|  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |
|  | (in thousands) |
Certificates of deposit |  | $ | 1,744 |  |  | $ | (11 | ) |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 20,192 |  |  |  | (23 | ) |  |  | 9,786 |  |  |  | (3 | )
Corporate debt securities |  |  | 240,782 |  |  |  | (836 | ) |  |  | 50,218 |  |  |  | (50 | )
Municipal securities |  |  | 30,448 |  |  |  | (126 | ) |  |  | 6,600 |  |  |  | (10 | )
Government and agency debt |  |  | 177,727 |  |  |  | (588 | ) |  |  | 55,141 |  |  |  | (35 | )
Total |  | $ | 470,893 |  |  | $ | (1,584 | ) |  | $ | 121,745 |  |  | $ | (98 | )

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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B + Details
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