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Marketable Securities | 6 Months Ended
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Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | Marketable Securities All marketable securities were considered available-for-sale at June 30, 2025 and December 31, 2024. On a recurring basis, the Company records its marketable securities at fair value using Level 1 or Level 2 inputs as discussed in Note 2, "Fair Value Measurements". The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s marketable securities by major security type at each balance sheet date are summarized in the tables below (in thousands):
| June 30, 2025
| Amortized Cost |  | Unrealized Holding Gains |  | Unrealized Holding Losses |  | Aggregate Fair Value
Short-term marketable securities: |  |  |  |  |  |  |
U.S. government treasuries | $ | 719,188 |  |  | $ | 1,014 |  |  | $ | (71) |  |  | $ | 720,131 |
Corporate debt securities | 37,498 |  |  | 116 |  |  | — |  |  | 37,614 |
Total short-term marketable securities | 756,686 |  |  | 1,130 |  |  | (71) |  |  | 757,745 |
Long-term marketable securities: |  |  |  |  |  |  |
U.S. government treasuries | 66,664 |  |  | 188 |  |  | — |  |  | 66,852 |
Corporate debt securities | 11,568 |  |  | 43 |  |  | — |  |  | 11,611 |
Total long-term marketable securities | 78,232 |  |  | 231 |  |  | — |  |  | 78,463 |
Total | $ | 834,918 |  |  | $ | 1,361 |  |  | $ | (71) |  |  | $ | 836,208 |
| December 31, 2024
| Amortized Cost |  | Unrealized Holding Gains |  | Unrealized Holding Losses |  | Aggregate Fair Value
Short-term marketable securities: |  |  |  |  |  |  |
U.S. government treasuries | $ | 627,809 |  |  | $ | 1,618 |  |  | $ | (27) |  |  | $ | 629,400 |
Corporate debt securities | 21,337 |  |  | 62 |  |  | — |  |  | 21,399 |
Commercial paper | 6,572 |  |  | — |  |  | — |  |  | 6,572 |
Total short-term marketable securities | 655,718 |  |  | 1,680 |  |  | (27) |  |  | 657,371 |
Long-term marketable securities: |  |  |  |  |  |  |
U.S. government treasuries | 334,300 |  |  | 788 |  |  | (196) |  |  | 334,892 |
Corporate debt securities | 24,354 |  |  | 127 |  |  | — |  |  | 24,481 |
Total long-term marketable securities | 358,654 |  |  | 915 |  |  | (196) |  |  | 359,373 |
Total | $ | 1,014,372 |  |  | $ | 2,595 |  |  | $ | (223) |  |  | $ | 1,016,744 |
As of June 30, 2025 and December 31, 2024, some of the Company's marketable securities were in an unrealized loss position. The Company has not recognized an allowance for credit losses as of June 30, 2025 or December 31, 2024. The Company determined that it had the ability and intent to hold all marketable securities that have been in a continuous loss position until maturity or recovery. Further, a majority of these marketable securities are held in U.S. government securities, and the remainder were initially, and continue to be, held with investment grade, high credit quality institutions. All marketable securities with unrealized losses as of each balance sheet date have been in a loss position for less than twelve months or the loss is not material. As of June 30, 2025, all of the Company’s marketable securities have an effective maturity of less than two years.

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- Definition The entire disclosure of cash, cash equivalent, and debt and equity securities, including realized and unrealized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
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