Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Sep. 30, 2024

Cash and Cash Equivalents [Abstract]

Summary of cash, cash equivalents, marketable securities, and available-for-sale investments

The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale investments at September 30, 2024 and December 31, 2023 (in thousands):

	As of September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	85,256	$	—	$	—	$	85,256	$	85,256	$	—	$	—
Level 1:
Money market funds	438,408		—		—		438,408		438,408		—		—
U.S. government	140,758		23		(5)		140,776		—		—		140,776
Marketable securities	90,000		61,560		—		151,560		—		151,560		—
Treasury bills	117,880		19		(2)		117,897		48,513		—		69,384
Agency bonds	104,780		—		(13)		104,767		104,767		—		—
Subtotal	891,826		61,602		(20)		953,408		591,688		151,560		210,160
Level 2:
Term deposits	119,610		—		—		119,610		18,200		—		101,410
Subtotal	119,610		—		—		119,610		18,200		—		101,410
Total	$	1,096,692	$	61,602	$	(20)	$	1,158,274	$	695,144	$	151,560	$	311,570

	As of December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	406,743	$	—	$	—	$	406,743	$	406,743	$	—	$	—
Level 1:
Money market funds	1,470		—		—		1,470		1,470		—		—
Agency bonds	222,057		2		(174)		221,885		101,635		—		120,250
U.S. government	238,747		120		(237)		238,630		—		—		238,630
Treasury bills	148,063		28		—		148,091		88,697		—		59,394
Marketable securities	90,000		—		(12,060)		77,940		—		77,940		—
Subtotal	700,337		150		(12,471)		688,016		191,802		77,940		418,274
Level 2:
Term deposits	128,205		—		—		128,205		—		—		128,205
Corporate bonds	80,646		8		(165)		80,489		—		—		80,489
Treasury inflation-protected securities	2,635		—		(5)		2,630		—		—		2,630
Commercial paper	14,456		—		—		14,456		—		—		14,456
Subtotal	225,942		8		(170)		225,780		—		—		225,780
Total	$	1,333,022	$	158	$	(12,641)	$	1,320,539	$	598,545	$	77,940	$	644,054