Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Measurements

Schedule of Company's assets and liabilities by level within the fair value hierarchy

	March 31, 2026
	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents and other short-term investments:
Cash equivalents (money market funds, U.S. Government Securities and Agency Investments)	$	115,195	$	—	$	—	$	115,195
Short-term investments (U.S. Government Securities and Agency Investments)		215,771		—		—		215,771
Mark-to-market adjustment on forward exchange contracts		—		(479)		—		(479)
Long-term investments (U.S. Government Securities and Agency Investments)		203,339		—		—		203,339
Total	$	534,305	$	(479)	$	—	$	533,826

	December 31, 2025
	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents and other short-term investments:
Cash equivalents (money market funds, U.S. Government Securities and Agency Investments)	$	93,348	$	—	$	—	$	93,348
Short-term investments (U.S. Government Securities and Agency Investments)		228,802		—		—		228,802
Mark-to-market adjustment on forward exchange contracts		—		435		—		435
Long-term investments (U.S. Government Securities and Agency Investments)		182,396		—		—		182,396
Total	$	504,546	$	435	$	—	$	504,981

Schedule of contractual maturities of our cash equivalents and investments

The following table summarizes the contractual maturities of our cash equivalents and investments as of March 31, 2026:

	Amortized Cost		Fair Value
	(in thousands)
Due within one year	$	330,946	$	330,966
Due after one year through two years		203,773		203,339
Total	$	534,719	$	534,305