Gross Unrealized

Losses

Amortized

Less than

Greater than

Estimated

March 31, 2025

Cost

Gains

One Year

Fair Value

Short-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

$

253,700

$

969

$

(22

)

$

(2

)

$

254,645

Corporate debt securities

228,654

934

(19

)

(3

)

229,566

 Total short-term investments

482,354

1,903

(41

)

(5

)

484,211

Long-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

23,540

—

—

(59

)

23,481

Corporate debt securities

8,620

—

—

(57

)

8,563

32,160

—

—

(116

)

32,044

Held-to-maturity securities:

Certificates of deposit

145

—

—

—

145

Total long-term investments

32,305

—

—

(116

)

32,189

Total investments

$

514,659

$

1,903

$

(41

)

$

(121

)

$

516,400

December 31, 2024

Short-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

$

266,506

$

763

$

(58

)

$

(6

)

$

267,205

Corporate debt securities

192,617

762

(58

)

(4

)

193,317

 Total short-term investments

459,123

1,525

(116

)

(10

)

460,522

Long-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

48,856

—

—

(179

)

48,677

Corporate debt securities

24,484

—

—

(158

)

24,326

73,340

—

—

(337

)

73,003

Held-to-maturity securities:

Certificates of deposit

145

—

—

—

145

Total long-term investments

73,485

—

—

(337

)

73,148

Total investments

$

532,608

$

1,525

$

(116

)

$

(347

)

$

533,670