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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets Measured at Fair Value | The following tables summarize the Company’s available-for-sale marketable securities’ amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category reported as cash equivalents or marketable securities as of June 30, 2025 and December 31, 2024:
(In thousands) June 30, 2025 |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value |  | Cash Equivalents |  | Marketable Securities
Level I |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 133,456 |  |  | $ | — |  |  | $ | — |  |  | $ | 133,456 |  |  | $ | 133,456 |  |  | $ | — |
Treasury bills |  | 189,545 |  |  | 17 |  |  | (7) |  |  | 189,555 |  |  | 23,950 |  |  | 165,605 |
U.S. government securities |  | 41,365 |  |  | 75 |  |  | (1) |  |  | 41,439 |  |  | — |  |  | 41,439 |
Total Level I |  | 364,366 |  |  | 92 |  |  | (8) |  |  | 364,450 |  |  | 157,406 |  |  | 207,044 |
Level II |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | 131,165 |  |  | 548 |  |  | (38) |  |  | 131,675 |  |  | — |  |  | 131,675 |
Asset-backed securities |  | 64 |  |  | — |  |  | — |  |  | 64 |  |  | — |  |  | 64 |
Foreign government and agency securities |  | 4,716 |  |  | 17 |  |  | (7) |  |  | 4,726 |  |  | — |  |  | 4,726 |
Total Level II |  | 135,945 |  |  | 565 |  |  | (45) |  |  | 136,465 |  |  | — |  |  | 136,465 |
Total |  | $ | 500,311 |  |  | $ | 657 |  |  | $ | (53) |  |  | $ | 500,915 |  |  | $ | 157,406 |  |  | $ | 343,509 |
(In thousands) December 31, 2024 |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value |  | Cash Equivalents |  | Marketable Securities
Level I |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 193,481 |  |  | $ | — |  |  | $ | — |  |  | $ | 193,481 |  |  | $ | 193,481 |  |  | $ | — |
Treasury bills |  | 131,022 |  |  | 40 |  |  | — |  |  | 131,062 |  |  | — |  |  | 131,062 |
U.S. government securities |  | 32,625 |  |  | 22 |  |  | (33) |  |  | 32,614 |  |  | — |  |  | 32,614 |
Total Level I |  | 357,128 |  |  | 62 |  |  | (33) |  |  | 357,157 |  |  | 193,481 |  |  | 163,676 |
Level II |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | 16,233 |  |  | — |  |  | — |  |  | 16,233 |  |  | — |  |  | 16,233 |
Corporate bonds |  | 126,395 |  |  | 431 |  |  | (144) |  |  | 126,682 |  |  | — |  |  | 126,682 |
Commercial deposits |  | 4,121 |  |  | — |  |  | — |  |  | 4,121 |  |  | — |  |  | 4,121 |
Asset-backed securities |  | 592 |  |  | 2 |  |  | — |  |  | 594 |  |  | — |  |  | 594 |
Foreign government and agency securities |  | 5,036 |  |  | 14 |  |  | (12) |  |  | 5,038 |  |  | — |  |  | 5,038 |
Total Level II |  | 152,377 |  |  | 447 |  |  | (156) |  |  | 152,668 |  |  | — |  |  | 152,668 |
Total |  | $ | 509,505 |  |  | $ | 509 |  |  | $ | (189) |  |  | $ | 509,825 |  |  | $ | 193,481 |  |  | $ | 316,344 |
Schedule of Investments Classified by Contractual Maturity Date | The following table summarizes the remaining contractual maturities of our cash equivalents and marketable securities as of June 30, 2025:
(In thousands) |  | Amortized Cost |  | Fair Value
Due within one year |  | $ | 328,870 |  |  | $ | 328,878 |
Due after one year through five years |  | 171,441 |  |  | 172,037 |
Total |  | $ | 500,311 |  |  | $ | 500,915 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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