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Cash Equivalents and Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Cash and Cash Equivalents [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The following is a summary of the Company's investment portfolio as of March 31, 2026 and December 31, 2025 (in thousands):
As of March 31, 2026
Gross UnrealizedEstimated
CostGainsLossesFair Value
Cash equivalents:
Money market funds$245,659 $— $— $245,659 
Available-for-sale securities:
Debt securities issued by U.S. government agencies257,475 — (177)257,298 
Corporate debt securities311,749 — (643)311,106 
Asset backed securities88,419 (31)88,388 
Commercial paper6,552 — (15)6,537 
Other debt securities248,869 — (728)248,141 
Total cash equivalents and marketable securities$1,158,723 $— $(1,594)$1,157,129 

As of December 31, 2025
Gross UnrealizedEstimated
CostGainsLossesFair Value
Cash equivalents:
Money market funds$195,296 $— $— $195,296 
Debt securities issued by U.S. government agencies7,003 — (1)7,002 
Available-for-sale securities:
Corporate debt securities198,036 282 — 198,318 
Debt securities issued by U.S. government agencies183,739 258 — 183,997 
Asset backed securities61,282 70 — 61,352 
Commercial paper7,714 4 — 7,718 
Other debt securities117,424 — (50)117,374 
Total cash equivalents and marketable securities$770,494 $614 $(51)$771,057 
Contractual maturities of the marketable securities at each balance sheet date are as follows (in thousands):
March 31, 2026December 31, 2025
Within one year$250,532 $242,002 
After one year through five years660,938 326,757 
Total$911,470 $568,759