XML 36 R22.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Measurements  
Schedule of financial assets measured at fair value on a recurring basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values (in thousands):

SEPTEMBER 30, 

DECEMBER 31, 

 

2025

2024

 

    

LEVEL 1

    

LEVEL 2

    

LEVEL 3

    

TOTAL

    

LEVEL 1

    

LEVEL 2

    

LEVEL 3

    

TOTAL

    

Money market funds

$

85,462

$

$

   —

$

85,462

$

161,328

$

$

   —

$

161,328

U.S. government bonds

384,284

384,284

263,015

263,015

U.S. government agency bonds

44,731

44,731

46,957

46,957

Corporate debt securities

 

277,076

 

277,076

 

 

404,036

 

 

404,036

Total fair value of financial assets

$

469,746

$

321,807

$

$

791,553

$

424,343

$

450,993

$

$

875,336

SEPTEMBER 30, 

DECEMBER 31, 

 

2025

 

2024

 

    

AMORTIZED

    

GROSS UNREALIZED

    

FAIR

    

AMORTIZED

    

GROSS UNREALIZED

    

FAIR

    

 

COST

LOSSES

GAINS

 

VALUE

 

COST

LOSSES

GAINS

 

VALUE

 

Money market funds

$

85,462

$

$

$

85,462

$

161,328

$

$

   —

$

161,328

U.S. government bonds

383,648

(30)

666

384,284

262,316

(48)

747

263,015

U.S. government agency bonds

44,706

(1)

26

44,731

46,890

(11)

78

46,957

Corporate debt securities

 

276,912

(90)

254

 

277,076

 

403,888

(368)

516

 

404,036

Total fair value of financial assets

$

790,728

$

(121)

$

946

$

791,553

$

874,422

$

(427)

$

1,341

$

875,336