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Short-Term Investments (Tables)

6 Months Ended

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	)

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

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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
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-Section 50
-Paragraph 5B
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