Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Sep. 30, 2026

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, 2026 and December 31, 2025 (in thousands):

	As of September 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	160,684	$	—	$	—	$	160,684	$	160,684	$	—	$	—
Level 1:
Money market funds	1,057,391		—		—		1,057,391		1,057,391		—		—
U.S. Treasury bills	99,138		—		(7)		99,131		50,110		—		49,021
Marketable securities	13,100		1,651		—		14,751		—		14,751		—
Agency bonds	400		—		—		400		—		—		400
Subtotal	1,170,029		1,651		(7)		1,171,673		1,107,501		14,751		49,421
Level 2:
Term deposits	219,257		—		—		219,257		143,558		—		75,699
Corporate bonds	88,981		9		(38)		88,952		43,355		—		45,597
Commercial paper	10,871		—		(1)		10,870		—		—		10,870
Certificates of deposit	3,719		—		—		3,719		3,719		—		—
Subtotal	322,828		9		(39)		322,798		190,632		—		132,166
Total	$	1,653,541	$	1,660	$	(46)	$	1,655,155	$	1,458,817	$	14,751	$	181,587

	As of December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	168,294	$	—	$	—	$	168,294	$	168,294	$	—	$	—
Level 1:
Money market funds	821,711		—		—		821,711		821,711		—		—
Marketable securities	15,093		12,120		—		27,213		—		27,213		—
U.S. Treasury bills	231,766		69		—		231,835		200,200		—		31,635
Agency bonds	6,456		3		—		6,459		—		—		6,459
Subtotal	1,075,026		12,192		—		1,087,218		1,021,911		27,213		38,094
Level 2:
Term deposits	385,942		—		—		385,942		10,942		—		375,000
Corporate bonds	72,322		42		(3)		72,361		—		—		72,361
Commercial paper	18,462		—		—		18,462		—		—		18,462
Certificates of deposit	1,500		—		—		1,500		—		—		1,500
Subtotal	478,226		42		(3)		478,265		10,942		—		467,323
Total	$	1,721,546	$	12,234	$	(3)	$	1,733,777	$	1,201,147	$	27,213	$	505,417