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Marketable Securities (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Summary of Marketable Securities Held | The following table summarizes the Company’s marketable securities held at September 30, 2025 (in thousands):
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 329,074 |  |  | $ | 118 |  |  | $ | (11 | ) |  | $ | 329,181 |
Corporate notes |  |  | 156,651 |  |  |  | 126 |  |  |  | (13 | ) |  |  | 156,764 |
U.S. Treasury securities |  |  | 283,717 |  |  |  | 569 |  |  |  | (8 | ) |  |  | 284,278 |
U.S. Government securities |  |  | 27,868 |  |  |  | 11 |  |  |  | (2 | ) |  |  | 27,877 |
Corporate equity securities |  |  | 8,910 |  |  |  | — |  |  |  | — |  |  |  | 8,910 |
Total |  | $ | 806,220 |  |  | $ | 824 |  |  | $ | (34 | ) |  | $ | 807,010 |
The following table summarizes the Company’s marketable securities held at December 31, 2024 (in thousands):
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 181,095 |  |  | $ | 210 |  |  | $ | (9 | ) |  | $ | 181,296 |
Corporate notes |  |  | 100,175 |  |  |  | 103 |  |  |  | (113 | ) |  |  | 100,165 |
U.S. Treasury securities |  |  | 164,491 |  |  |  | 289 |  |  |  | (10 | ) |  |  | 164,770 |
U.S. Government securities |  |  | 114,552 |  |  |  | 235 |  |  |  | (26 | ) |  |  | 114,761 |
Corporate equity securities |  |  | 7,781 |  |  |  | — |  |  |  | — |  |  |  | 7,781 |
Total |  | $ | 568,094 |  |  | $ | 837 |  |  | $ | (158 | ) |  | $ | 568,773 |

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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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