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Marketable Securities
12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities Marketable Securities
Investments in marketable securities, including those classified in cash and cash equivalents, are summarized as follows (in thousands):
December 31, 2025
Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. Treasury securities$117,919 $171 $(52)$118,038 
Corporate bonds114,640 147 (121)114,666 
Commercial paper4,079 — (19)4,060 
Marketable equity securities— — — 18,654 
Total marketable securities$236,638 $318 $(192)$255,418 
The amortized cost and estimated fair value of marketable debt securities are summarized below by contractual maturity dates (in thousands):
December 31, 2025
Amortized costFair value
Due within one year$205,540 $205,617 
Due after one year through five years31,098 31,147