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Marketable securities | 6 Months Ended
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Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract] |
Marketable securities | 4. Marketable securities Marketable securities as of June 30, 2026 consisted of the following (in thousands):
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Description |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 294,425 |  |  | $ | 5 |  |  | $ | (669 | ) |  | $ | 293,761 |
U.S. Treasury securities |  |  | 237,857 |  |  |  | 5 |  |  |  | (623 | ) |  |  | 237,239 |
Total |  | $ | 532,282 |  |  | $ | 10 |  |  | $ | (1,292 | ) |  | $ | 531,000 |
Marketable securities as of December 31, 2025 consisted of the following (in thousands):
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Description |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 99,543 |  |  | $ | 53 |  |  | $ | — |  |  | $ | 99,596 |
U.S. Treasury securities |  |  | 147,514 |  |  |  | 111 |  |  |  | — |  |  |  | 147,625 |
Total |  | $ | 247,057 |  |  | $ | 164 |  |  | $ | — |  |  | $ | 247,221 |
As of June 30, 2026, unrealized gain and losses on marketable securities are recorded in accumulated other comprehensive loss in equity on the accompanying condensed consolidated balance sheet. There were no realized gains or losses recognized on the sale or maturity of marketable securities for the three and six months ended June 30, 2026 and 2025 and, as a result, the Company did not reclassify any amounts out of accumulated other comprehensive loss for the same periods. The Company holds debt securities of companies with high credit quality and has determined that there was no material change in the credit risk of any of its debt securities. The Company also believes that it will be able to collect both principal and interest amounts due to it at maturity.

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