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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)

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