Gross Unrealized

Losses

Amortized

Less than

Greater than

Estimated

June 30, 2025

Cost

Gains

One Year

Fair Value

Short-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

$

266,091

$

892

$

(5

)

$

(12

)

$

266,966

Corporate debt securities

226,554

1,027

(4

)

(3

)

227,574

 Total short-term investments

492,645

1,919

(9

)

(15

)

494,540

Long-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

29,580

—

—

(55

)

29,525

Corporate debt securities

8,627

—

—

(28

)

8,599

38,207

—

—

(83

)

38,124

Held-to-maturity securities:

Certificates of deposit

145

—

—

—

145

Total long-term investments

38,352

—

—

(83

)

38,269

Total investments

$

530,997

$

1,919

$

(9

)

$

(98

)

$

532,809

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