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Marketable securities
3 Months Ended
Mar. 31, 2026
Marketable Securities [Abstract]  
Marketable securities Marketable securities
Marketable securities as of March 31, 2026 consisted of the following (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Marketable securities, current:    
Corporate debt securities$135,528 $$(189)$135,348 
U.S. government debt securities20,090 — (20)20,070 
U.S. Treasury securities18,974 (1)18,979 
Marketable securities, non-current:   
Corporate debt securities31,752 (125)31,628 
U.S. government debt securities975 — (3)972 
Total marketable securities, current and non-current$207,319 $16 $(338)$206,997 
Marketable securities as of December 31, 2025 consisted of the following (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Marketable securities, current:    
Corporate debt securities$131,038 $50 $(37)$131,051 
U.S. Treasury securities28,107 26 (2)28,131 
U.S. government debt securities14,756 — (4)14,752 
Marketable securities, non-current:   
Corporate debt securities45,544 33 (14)45,563 
U.S. government debt securities2,002 — (1)2,001 
U.S. Treasury securities1,000 — (1)999 
Total marketable securities, current and non-current$222,447 $109 $(59)$222,497 
Marketable securities classified as current have maturities of less than one year and are classified as available-for-sale. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) are not intended to be liquidated within the next twelve months, although these funds are available for use and, therefore, are classified as available-for-sale. No available-for-sale debt securities held as of March 31, 2026 or December 31, 2025 had remaining maturities greater than five years.
Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at March 31, 2026 and December 31, 2025, related to these securities.