XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.26.1

Cash Equivalents and Marketable Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract] |
Schedule of Marketable Securities | As of June 30, 2026, cash equivalents and marketable securities consisted of the following (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Aggregate Fair Value
Money market funds | $ | 132,662 |  |  | $ | — |  |  | $ | — |  |  | $ | 132,662 |
Commercial paper | 1,996 |  |  | — |  |  | — |  |  | 1,996 |
U.S. treasury debt securities | 264,945 |  |  | 55 |  |  | (658) |  |  | 264,342 |
U.S. government agency debt securities | 87,744 |  |  | 1 |  |  | (476) |  |  | 87,269 |
Corporate debt securities | 215,629 |  |  | 36 |  |  | (522) |  |  | 215,143 |
| $ | 702,976 |  |  | $ | 92 |  |  | $ | (1,656) |  |  | $ | 701,412 |
Included in cash and cash equivalents | $ | 138,652 |  |  | $ | — |  |  | $ | — |  |  | $ | 138,652 |
Included in marketable securities | $ | 564,324 |  |  | $ | 92 |  |  | $ | (1,656) |  |  | $ | 562,760 |
As of December 31, 2025, cash equivalents and marketable securities consisted of the following (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Aggregate Fair Value
Money market funds | $ | 201,592 |  |  | $ | — |  |  | $ | — |  |  | $ | 201,592 |
Commercial paper | 3,433 |  |  | — |  |  | — |  |  | 3,433 |
U.S. treasury debt securities | 287,930 |  |  | 697 |  |  | (8) |  |  | 288,619 |
U.S. government agency debt securities | 78,946 |  |  | 59 |  |  | (25) |  |  | 78,980 |
Corporate debt securities | 196,851 |  |  | 481 |  |  | (38) |  |  | 197,294 |
| $ | 768,752 |  |  | $ | 1,237 |  |  | $ | (71) |  |  | $ | 769,918 |
Included in cash and cash equivalents | $ | 217,063 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 217,066 |
Included in marketable securities | $ | 551,689 |  |  | $ | 1,234 |  |  | $ | (71) |  |  | $ | 552,852 |
Schedule of Cash and Cash Equivalents | As of June 30, 2026, cash equivalents and marketable securities consisted of the following (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Aggregate Fair Value
Money market funds | $ | 132,662 |  |  | $ | — |  |  | $ | — |  |  | $ | 132,662 |
Commercial paper | 1,996 |  |  | — |  |  | — |  |  | 1,996 |
U.S. treasury debt securities | 264,945 |  |  | 55 |  |  | (658) |  |  | 264,342 |
U.S. government agency debt securities | 87,744 |  |  | 1 |  |  | (476) |  |  | 87,269 |
Corporate debt securities | 215,629 |  |  | 36 |  |  | (522) |  |  | 215,143 |
| $ | 702,976 |  |  | $ | 92 |  |  | $ | (1,656) |  |  | $ | 701,412 |
Included in cash and cash equivalents | $ | 138,652 |  |  | $ | — |  |  | $ | — |  |  | $ | 138,652 |
Included in marketable securities | $ | 564,324 |  |  | $ | 92 |  |  | $ | (1,656) |  |  | $ | 562,760 |
As of December 31, 2025, cash equivalents and marketable securities consisted of the following (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Aggregate Fair Value
Money market funds | $ | 201,592 |  |  | $ | — |  |  | $ | — |  |  | $ | 201,592 |
Commercial paper | 3,433 |  |  | — |  |  | — |  |  | 3,433 |
U.S. treasury debt securities | 287,930 |  |  | 697 |  |  | (8) |  |  | 288,619 |
U.S. government agency debt securities | 78,946 |  |  | 59 |  |  | (25) |  |  | 78,980 |
Corporate debt securities | 196,851 |  |  | 481 |  |  | (38) |  |  | 197,294 |
| $ | 768,752 |  |  | $ | 1,237 |  |  | $ | (71) |  |  | $ | 769,918 |
Included in cash and cash equivalents | $ | 217,063 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 217,066 |
Included in marketable securities | $ | 551,689 |  |  | $ | 1,234 |  |  | $ | (71) |  |  | $ | 552,852 |
Schedule of Investments Classified by Contractual Maturity Date | The contractual maturities of the investments classified as marketable securities are as follows (in thousands):
| As of June 30, 2026
Due within one year | $ | 320,842 |
Due in one to two years | 231,952 |
Due in three to five years | 9,966 |
| $ | 562,760 |
Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position | The following table presents gross unrealized losses and fair values for those cash equivalents and marketable securities that were in an unrealized loss position as of June 30, 2026, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands):
| As of June 30, 2026
| Less than 12 months |  | 12 months or greater
| Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. treasury debt securities | $ | 201,171 |  |  | $ | (657) |  |  | $ | 6,503 |  |  | $ | (1) |
U.S. government agency debt securities | 82,267 |  |  | (476) |  |  | — |  |  | — |
Corporate debt securities | 169,048 |  |  | (522) |  |  | — |  |  | — |
Total | $ | 452,486 |  |  | $ | (1,655) |  |  | $ | 6,503 |  |  | $ | (1) |

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + 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 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration