Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Measurements

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

	June 30, 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)	$	141,363	$	—	$	—	$	141,363
Short-term investments (U.S. Government Securities and Agency Investments)		376,193		—		—		376,193
Mark-to-market adjustment on forward exchange contracts		—		(457)		—		(457)
Long-term investments (U.S. Government Securities and Agency Investments)		31,114		—		—		31,114
Total	$	548,670	$	(457)	$	—	$	548,213

	December 31, 2024
	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)	$	81,320	$	—	$	—	$	81,320
Short-term investments (U.S. Government Securities and Agency Investments)		448,296		—		—		448,296
Mark-to-market adjustment on forward exchange contracts		—		267		—		267
Total	$	529,616	$	267	$	—	$	529,883

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 June 30, 2025:

	Amortized Cost		Fair Value
	(in thousands)
Due within one year	$	517,629	$	517,556
Due after one year through two years		31,018		31,114
Total	$	548,647	$	548,670