Marketable Securities (Tables)

6 Months Ended

Jun. 30, 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):


	June 30, 2026
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Aggregate Fair Value
Short-term marketable securities:
U.S. government treasuries	$	409,364	$	20	$	(555)	$	408,829

Corporate debt securities	100,342		16		(246)		100,112

Total short-term marketable securities	509,706		36		(801)		508,941
Long-term marketable securities:
U.S. government treasuries	164,059		—		(658)		163,401

Corporate debt securities	66,328		—		(195)		66,133
Total long-term marketable securities	230,387		—		(853)		229,534
Total	$	740,093	$	36	$	(1,654)	$	738,475


	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