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Marketable Securities | 6 Months Ended
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Jun. 30, 2026
Investments Debt And Equity Securities [Abstract] |
Marketable Securities | 3. Marketable Securities The fair value and amortized cost of available-for-sale marketable securities by major security type are presented in the following tables as of the periods presented:
|  | June 30, 2026 |
Type of security |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. treasury securities |  | $ | 97,245 |  |  | $ | 18 |  |  | $ | (259 | ) |  | $ | 97,004 |
Commercial paper |  |  | 83,562 |  |  |  | — |  |  |  | (69 | ) |  |  | 83,493 |
Corporate bonds |  |  | 67,589 |  |  |  | 11 |  |  |  | (115 | ) |  |  | 67,485 |
Asset backed securities |  |  | 13,523 |  |  |  | 2 |  |  |  | (5 | ) |  |  | 13,520 |
U.S. government agency securities |  |  | 3,074 |  |  |  | — |  |  |  | (8 | ) |  |  | 3,066 |
Total marketable securities |  | $ | 264,993 |  |  | $ | 31 |  |  | $ | (456 | ) |  | $ | 264,568 |
|  | December 31, 2025 |
Type of Security |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. treasury securities |  | $ | 62,572 |  |  | $ | 100 |  |  | $ | — |  |  | $ | 62,672 |
Commercial paper |  |  | 46,773 |  |  |  | 14 |  |  |  | (4 | ) |  |  | 46,783 |
Corporate bonds |  |  | 41,991 |  |  |  | 17 |  |  |  | (3 | ) |  |  | 42,005 |
Asset backed securities |  |  | 13,558 |  |  |  | 17 |  |  |  | — |  |  |  | 13,575 |
U.S. government agency securities |  |  | 4,304 |  |  |  | 7 |  |  |  | — |  |  |  | 4,311 |
Total marketable securities |  | $ | 169,198 |  |  | $ | 155 |  |  | $ | (7 | ) |  | $ | 169,346 |
The net amortized cost and fair value of available-for-sale marketable securities are presented in the following table as of the periods presented by contractual maturity. Actual maturities may differ from contractual maturities because securities may be restructured, called or prepaid, or the Company may intend to sell a security prior to maturity.
|  | June 30, 2026 |
|  | Amortized Cost |  |  | Fair Value |
Due to mature: |  |  |  |  |  |
Less than one year |  | $ | 175,980 |  |  | $ | 175,727 |
One year through three years |  |  | 89,013 |  |  |  | 88,841 |
Total |  | $ | 264,993 |  |  | $ | 264,568 |
|  | December 31, 2025 |
|  | Amortized Cost |  |  | Fair Value |
Due to mature: |  |  |  |  |  |
Less than one year |  | $ | 110,769 |  |  | $ | 110,863 |
One year through three years |  |  | 58,429 |  |  |  | 58,483 |
Total |  | $ | 169,198 |  |  | $ | 169,346 |
During the three and six months ended June 30, 2026 and 2025, there were no realized gains or losses on available-for-sale marketable securities. As of June 30, 2026 and December 31, 2025, no marketable securities had been in a continuous unrealized loss position for more than 12 months and the Company conside red any such losses t o be temporary in nature. The Company reviewed the securities in the tables above and considered the decline in market value for these securities to be primarily attributable to economic and market conditions. As of the periods noted in the tables above, the Company did not intend to sell these securities and did not believe it was more likely than not that it would be required to sell these securities before recovery of their amortized cost basis. Additionally, the Company did no t recognize any credit losses related to its marketable securities in an unrealized loss position during any of the periods noted in the table above. As of June 30, 2026 and December 31, 2025, accrued interest receivables on the Company’s available-for-sale marketable securities were $1.6 million a nd $1.0 million, respectively, and were included within other current assets as presented on its Condensed Consolidated Balance Sheets.

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