Gross Unrealized

Losses

Amortized

Less than

Greater than

Estimated

September 30, 2025

Cost

Gains

One Year

Fair Value

Short-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

$

273,690

$

1,032

$

(3

)

$

(6

)

$

274,713

Corporate debt securities

218,685

1,268

—

(1

)

219,952

 Total short-term investments

492,375

2,300

(3

)

(7

)

494,665

Long-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

10,062

—

(4

)

(6

)

10,052

Corporate debt securities

17,690

—

(5

)

(13

)

17,672

27,752

—

(9

)

(19

)

27,724

Held-to-maturity securities:

Certificates of deposit

145

—

—

—

145

Total long-term investments

27,897

—

(9

)

(19

)

27,869

Total investments

$

520,272

$

2,300

$

(12

)

$

(26

)

$

522,534

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