Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2024

Cash and Cash Equivalents [Abstract]

Estimated Fair Value of Cash Equivalents and Marketable Securities and the Gross Unrealized Gains and Losses

The following tables summarize the estimated fair value of the Company’s cash equivalents and marketable securities and the gross unrealized gains and losses (in thousands):

	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	65,902	$	—	$	—	$	65,902
Commercial paper	21,832		6		—		21,838
U.S. government treasury securities	—		—		—		—
Total cash equivalents	$	87,734	$	6	$	—	$	87,740
Marketable securities:
Commercial paper	$	143,265	$	104	$	(77)	$	143,292
Corporate bonds	56,471		25		(48)		56,448
U.S. government treasury securities	227,155		385		(296)		227,244
U.S. government agency securities	86,616		137		(72)		86,681
Total marketable securities	$	513,507	$	651	$	(493)	$	513,665

	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	150,648	$	—	$	—	$	150,648
Commercial paper	24,950		5		—		24,955
U.S. government treasury securities	10,965		1		—		10,966
Total cash equivalents	$	186,563	$	6	$	—	$	186,569
Marketable securities:
Commercial paper	$	79,124	$	62	$	—	$	79,186
Corporate bonds	32,984		81		(1)		33,064
U.S. government treasury securities	21,846		31		—		21,877
U.S. government agency securities	16,147		110		—		16,257
Total marketable securities	$	150,101	$	284	$	(1)	$	150,384

Available-for-Sale Securities in an Unrealized Loss Position

The following table summarizes the available-for-sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2024 and 2023, aggregated by major security type and length of time in a continuous unrealized loss position:

	December 31, 2024
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Commercial paper	$	67,200	$	(77)	$	—	$	—	$	67,200	$	(77)
Corporate bonds	42,916		(48)		—		—		42,916		(48)
U.S. government treasury securities	126,588		(296)		—		—		126,588		(296)
U.S. government agency securities	12,560		(72)		—		—		12,560		(72)
Total marketable securities	$	249,264	$	(493)	$	—	$	—	$	249,264	$	(493)

	December 31, 2023
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate bonds	$	9,907	$	(1)	$	—	$	—	$	9,907	$	(1)
U.S. government treasury securities	4,831		—		—		—		4,831		—
Total marketable securities	$	14,738	$	(1)	$	—	$	—	$	14,738	$	(1)

Contractual Maturities of Marketable Securities at Estimated Fair Value

The following table summarizes the contractual maturities of the Company's marketable securities at estimated fair value (in thousands):

	December 31,
	2024		2023
Due in one year or less	$	338,442	$	115,784
Due in 1 - 2 years	175,223		34,600
Total marketable securities	$	513,665	$	150,384