Investments (Tables)

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-Term Investments

The following tables summarize the Company’s short-term investments (in thousands):

		As of September 30, 2021
	Maturity	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Corporate debt securities	2 years or less	$	215,349	$	18	$	(41)	$	215,326
Commercial paper	1 year or less	528,373		81		(1)		528,453
U.S. Agency bonds	1 year or less	75,244		9		(1)		75,252
U.S. Treasury bills	2 years or less	83,723		22		(10)		83,735
Sovereign debt securities	1 year or less	9,030		—		(2)		9,028
		$	911,719	$	130	$	(55)	$	911,794

		As of December 31, 2020
	Maturity	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Corporate debt securities	2 years or less	$	130,814	$	160	$	(4)	$	130,970
Commercial paper	1 year or less	240,725		58		(18)		240,765
U.S. Agency bonds	2 years or less	83,227		37		(1)		83,263
U.S. Treasury bills	2 years or less	49,539		10		(3)		49,546
		$	504,305	$	265	$	(26)	$	504,544