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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Schedule of Assets Measured at Fair Value on Recurring Basis | The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values as of March 31, 2026 and December 31, 2025 (in thousands):
|  | Fair Value Measurements at March 31, 2026: |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 138,403 |  |  |  | — |  |  | $ | — |  |  | $ | 138,403 |
US treasuries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial Paper |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Marketable securities, current |  |  |  |  |  |  |  |  |  |  |  |
US treasuries |  |  | 128,594 |  |  |  | — |  |  |  | — |  |  |  | 128,594 |
US government agencies |  |  | — |  |  |  | 160,226 |  |  |  | — |  |  |  | 160,226 |
Commercial Paper |  |  | — |  |  |  | 13,628 |  |  |  | — |  |  |  | 13,628 |
Corporate bonds |  |  | — |  |  |  | 204,391 |  |  |  | — |  |  |  | 204,391 |
Marketable securities, non-current |  |  |  |  |  |  |  |  |  |  |  |
US treasuries |  |  | 196,193 |  |  |  | — |  |  |  | — |  |  |  | 196,193 |
US government agencies |  |  | — |  |  |  | 221,741 |  |  |  | — |  |  |  | 221,741 |
Corporate bonds |  |  | — |  |  |  | 476,790 |  |  |  | — |  |  |  | 476,790 |
Restricted cash |  |  | 5,810 |  |  |  | — |  |  |  | — |  |  |  | 5,810 |
Total |  | $ | 469,000 |  |  | $ | 1,076,776 |  |  | $ | — |  |  | $ | 1,545,776 |
|  | Fair Value Measurements at December 31, 2025: |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 299,067 |  |  | $ | — |  |  | $ | — |  |  | $ | 299,067 |
Commercial Paper |  |  | — |  |  |  | 16,616 |  |  |  | — |  |  |  | 16,616 |
Corporate bonds |  |  | — |  |  |  | 14,355 |  |  |  | — |  |  |  | 14,355 |
Marketable securities, current |  |  |  |  |  |  |  |  |  |  |  |
US treasuries |  |  | 157,069 |  |  |  | — |  |  |  | — |  |  |  | 157,069 |
US government agencies |  |  | — |  |  |  | 126,290 |  |  |  | — |  |  |  | 126,290 |
Commercial Paper |  |  | — |  |  |  | 7,155 |  |  |  | — |  |  |  | 7,155 |
Corporate bonds |  |  | — |  |  |  | 200,750 |  |  |  | — |  |  |  | 200,750 |
Marketable securities, non-current |  |  |  |  |  |  |  |  |  |  |  |
US treasuries |  |  | 160,500 |  |  |  | — |  |  |  | — |  |  |  | 160,500 |
US government agencies |  |  | — |  |  |  | 164,618 |  |  |  | — |  |  |  | 164,618 |
Corporate bonds |  |  | — |  |  |  | 446,041 |  |  |  | — |  |  |  | 446,041 |
Restricted cash |  |  | 5,800 |  |  |  | — |  |  |  | — |  |  |  | 5,800 |
Total |  | $ | 622,436 |  |  | $ | 975,825 |  |  | $ | — |  |  | $ | 1,598,261 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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