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Cash Equivalents and Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 2025
Cash and Cash Equivalents [Abstract]  
Schedule of Estimated Fair Value of Cash Equivalents and Marketable Securities and 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):
June 30, 2025
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Cash equivalents:
Money market funds$79,957 $— $— $79,957 
Total cash equivalents$79,957 $— $— $79,957 
Marketable securities:
Commercial paper$89,207 $1 $(30)$89,178 
Corporate bonds63,544 54 (27)63,571 
U.S. government treasury securities221,207 512 (73)221,646 
U.S. government agency securities70,509 40 (23)70,526 
Total marketable securities$444,467 $607 $(153)$444,921 
December 31, 2024
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Cash equivalents:
Money market funds$65,902 $— $— $65,902 
Commercial paper21,832 6 — 21,838 
Total cash equivalents$87,734 $6 $— $87,740 
 
Marketable securities:
Commercial paper$143,265 $104 $(77)$143,292 
Corporate bonds56,471 25 (48)56,448 
U.S. government treasury securities227,155 385 (296)227,244 
U.S. government agency securities86,616 137 (72)86,681 
Total marketable securities$513,507 $651 $(493)$513,665 
Schedule of 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 June 30, 2025 and December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position:
June 30, 2025
Less Than 12 Months
12 Months or Longer
Total
Fair Value
Unrealized
Losses
Fair Value
Unrealized
Losses
Fair Value
Unrealized
Losses
Commercial paper$76,461 $(30)$— $— $76,461 $(30)
Corporate bonds24,365 (27)— — 24,365 (27)
U.S. government treasury securities48,575 (73)— — 48,575 (73)
U.S. government agency securities21,211 (23)— — 21,211 (23)
Total marketable securities$170,612 $(153)$— $— $170,612 $(153)
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 bonds42,916 (48)— — 42,916 (48)
U.S. government treasury securities126,588 (296)— — 126,588 (296)
U.S. government agency securities12,560 (72)12,560 (72)
Total marketable securities$249,264 $(493)$— $— $249,264 $(493)
Schedule of 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):
June 30,
2025		December 31,
2024
Due in one year or less$327,764 $338,442 
Due in 1 - 2 years117,157 175,223 
Total marketable securities$444,921 $513,665