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Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Marketable Securities [Abstract]  
Schedule of Marketable Securities

Marketable securities as of June 30, 2026 consisted of the following (in thousands):

 

 

 

 

Gross Unrealized

 

 

 

 

 

Amortized Cost

 

 

Gains

 

 

Losses

 

 

Estimated Fair Value

 

Marketable securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 U.S. treasury securities

 

$

441,097

 

 

$

57

 

 

$

(1,119

)

 

$

440,035

 

 Corporate debt securities

 

 

89,493

 

 

 

—

 

 

 

(89

)

 

 

89,404

 

 U.S. government agency securities

 

 

90,048

 

 

 

4

 

 

 

(421

)

 

 

89,631

 

Total available-for-sale securities

 

$

620,638

 

 

$

61

 

 

$

(1,629

)

 

$

619,070

 

Marketable securities as of December 31, 2025 consisted of the following (in thousands):

 

 

 

 

Gross Unrealized

 

 

 

 

 

Amortized Cost

 

 

Gains

 

 

Losses

 

 

Estimated Fair Value

 

Marketable securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 U.S. treasury securities

 

$

484,670

 

 

$

859

 

 

$

—

 

 

$

485,529

 

 Corporate debt securities

 

 

132,913

 

 

 

44

 

 

 

(16

)

 

 

132,941

 

 U.S. government agency securities

 

 

81,431

 

 

 

110

 

 

 

(4

)

 

 

81,537

 

Total available-for-sale securities

 

$

699,014

 

 

$

1,013

 

 

$

(20

)

 

$

700,007

 
Schedule of Contractual Maturity The following table shows the fair value of the Company’s marketable securities, by contractual maturity, as of June 30, 2026 (in thousands):

 

June 30, 2026

 

Due within one year

 

$

446,965

 

Due after one year through five years

 

 

172,105

 

Total available-for-sale securities

 

$

619,070