Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Sep. 30, 2025

Cash and Cash Equivalents [Abstract]

Schedule 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 debt investments at September 30, 2025 and December 31, 2024 (in thousands):

	As of September 30, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	878,921	$	—	$	—	$	878,921	$	878,921	$	—	$	—
Level 1:
Money market funds	334,128		—		—		334,128		334,128		—		—
U.S. Treasury bills	213,516		69		—		213,585		151,483		—		62,102
Marketable securities	36,794		31,385		—		68,179		—		68,179		—
Agency bonds	25,911		4		—		25,915		—		—		25,915
U.S. Government bonds	6,485		—		—		6,485		—		—		6,485
Subtotal	616,834		31,458		—		648,292		485,611		68,179		94,502
Level 2:
Term deposits	749,618		—		—		749,618		59,339		—		690,279
Corporate bonds	125,936		68		(7)		125,997		—		—		125,997
Commercial paper	40,507		—		—		40,507		—		—		40,507
Certificates of deposit	1,500		1		—		1,501		—		—		1,501
Subtotal	917,561		69		(7)		917,623		59,339		—		858,284
Total	$	2,413,316	$	31,527	$	(7)	$	2,444,836	$	1,423,871	$	68,179	$	952,786

	As of December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	94,919	$	—	$	—	$	94,919	$	94,919	$	—	$	—
Level 1:
Money market funds	322,874		—		—		322,874		322,874		—		—
Marketable securities	90,000		108,270		—		198,270		—		198,270		—
U.S. Government bonds	75,994		7		(5)		75,996		—		—		75,996
U.S. Treasury bills	14,431		25		—		14,456		—		—		14,456
Agency bonds	996		—		—		996		—		—		996
Subtotal	504,295		108,302		(5)		612,592		322,874		198,270		91,448
Level 2:
Term deposits	136,480		—		—		136,480		11,480		—		125,000
Corporate bonds	122,018		10		(63)		121,965		24,075		—		97,890
Commercial paper	20,393		—		—		20,393		1,496		—		18,897
Subtotal	278,891		10		(63)		278,838		37,051		—		241,787
Total	$	878,105	$	108,312	$	(68)	$	986,349	$	454,844	$	198,270	$	333,235