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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 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):
June 30, 2026
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$148,024 $— $— $148,024 
Short-term marketable securities:
U.S. government treasuries408,829 — — 408,829 
Corporate debt securities— 100,112 — 100,112 
Long-term marketable securities:
U.S. government treasuries163,401 — — 163,401 
Corporate debt securities— 66,133 — 66,133 
Total$720,254 $166,245 $— $886,499 
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