Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on a Recurring Basis

The following table sets forth our financial assets that are measured at fair value on a recurring basis:

		March 31, 2025
	Fair value hierarchy level	Cost or amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
		(in thousands)
Cash equivalents:
Money market funds	Level 1	$	546,127	$	—	$	—	$	546,127
U.S. treasury securities	Level 1	12,508		—		—		12,508
Certificates of deposit	Level 2	25,118		—		—		25,118
Marketable securities:
U.S. treasury securities	Level 1	767,005		1,084		(85)		768,004
U.S. agency bonds	Level 2	208,446		59		(52)		208,453
Corporate bonds	Level 2	198,458		433		(49)		198,842
Commercial paper	Level 2	140,091		31		(6)		140,116
Total		$	1,897,753	$	1,607	$	(192)	$	1,899,168

		December 31, 2024
	Fair value hierarchy level	Cost or amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
		(in thousands)
Cash equivalents:
Money market funds	Level 1	$	497,461	$	—	$	—	$	497,461
U.S. treasury securities	Level 1	5,979		2		—		5,981
Corporate bonds	Level 2	1,066		2		—		1,068
Marketable securities:
U.S. treasury securities	Level 1	817,996		1,120		(396)		818,720
U.S. agency bonds	Level 2	117,965		15		(62)		117,918
Corporate bonds	Level 2	159,424		400		(86)		159,738
Commercial paper	Level 2	182,264		99		(22)		182,341
Total		$	1,782,155	$	1,638	$	(566)	$	1,783,227