Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Available for Sale Securities

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):


	March 31, 2026
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Aggregate Fair Value
Short-term marketable securities:
U.S. government treasuries	$	522,445	$	200	$	(254)	$	522,391

Corporate debt securities	77,725		36		(94)		77,667

Total short-term marketable securities	600,170		236		(348)		600,058
Long-term marketable securities:
U.S. government treasuries	40,396		—		(88)		40,308

Corporate debt securities	23,607		—		(130)		23,477
Total long-term marketable securities	64,003		—		(218)		63,785
Total	$	664,173	$	236	$	(566)	$	663,843


	December 31, 2025
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Aggregate Fair Value
Short-term marketable securities:
U.S. government treasuries	$	599,200	$	893	$	(9)	$	600,084

Corporate debt securities	62,407		71		(9)		62,469

Total short-term marketable securities	661,607		964		(18)		662,553
Long-term marketable securities:
U.S. government treasuries	58,524		21		—		58,545

Corporate debt securities	39,710		69		(2)		39,777
Total long-term marketable securities	98,234		90		(2)		98,322
Total	$	759,841	$	1,054	$	(20)	$	760,875