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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
Assets and liabilities measured at fair value at each balance sheet date are as follows (in thousands):
March 31, 2026
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$81,146 $— $— $81,146 
Short-term marketable securities:
U.S. government treasuries522,391 — — 522,391 
Corporate debt securities— 77,667 — 77,667 
Long-term marketable securities:
U.S. government treasuries40,308 — — 40,308 
Corporate debt securities— 23,477 — 23,477 
Total$643,845 $101,144 $— $744,989 
December 31, 2025
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$149,874 $— $— $149,874 
Commercial paper— 24,899 — 24,899 
Short-term marketable securities:
U.S. government treasuries600,084 — — 600,084 
Corporate debt securities— 62,469 — 62,469 
Long-term marketable securities:
U.S. government treasuries58,545 — — 58,545 
Corporate debt securities— 39,777 — 39,777 
Total$808,503 $127,145 $— $935,648