Cash Equivalents and Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2026

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):

	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	95,448	$	—	$	—	$	95,448
Total cash equivalents	$	95,448	$	—	$	—	$	95,448
Marketable securities:
Commercial paper	$	164,635	$	1	$	(230)	$	164,406
Corporate bonds	86,788		17		(149)		86,656
U.S. government treasury securities	257,224		252		(296)		257,180
U.S. government agency securities	136,402		20		(382)		136,040
Total marketable securities	$	645,049	$	290	$	(1,057)	$	644,282

	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	74,004	$	—	$	—	$	74,004
Commercial paper	9,987		—		—		9,987
Total cash equivalents	$	83,991	$	—	$	—	$	83,991
Marketable securities:
Commercial paper	$	184,423	$	25	$	(80)	$	184,368
Corporate bonds	100,753		60		(23)		100,790
U.S. government treasury securities	265,316		748		—		266,064
U.S. government agency securities	119,450		153		(13)		119,590
Total marketable securities	$	669,942	$	986	$	(116)	$	670,812

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 March 31, 2026 and December 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position:

	March 31, 2026
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Commercial paper	$	139,980	$	(230)	$	—	$	—	$	139,980	$	(230)
Corporate bonds	$	74,746	$	(149)	$	—	$	—	$	74,746	$	(149)
U.S. government treasury securities	95,038		(296)		—		—		95,038		(296)
U.S. government agency securities	122,231		(382)		—		—		122,231		(382)
Total marketable securities	$	431,995	$	(1,057)	$	—	$	—	$	431,995	$	(1,057)
	December 31, 2025
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Commercial paper	$	99,837	$	(80)	$	—	$	—	$	99,837	$	(80)
Corporate bonds	58,296		(23)		—		—		58,296		(23)
U.S. government agency securities	22,828		(13)		—		—		22,828		(13)
Total marketable securities	$	180,961	$	(116)	$	—	$	—	$	180,961	$	(116)

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):

	March 31, 2026		December 31, 2025
Due in one year or less	$	419,203	$	440,895
Due in 1 - 2 years	225,079		229,917
Total marketable securities	$	644,282	$	670,812