Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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:

		June 30, 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	$	621,940	$	—	$	—	$	621,940
U.S. treasury securities	Level 1	19,967		—		—		19,967
Certificates of deposit	Level 2	25,397		—		—		25,397
Marketable securities:
U.S. treasury securities	Level 1	665,971		899		(70)		666,800
U.S. agency bonds	Level 2	301,916		77		(207)		301,786
Corporate bonds	Level 2	239,906		586		(16)		240,476
Commercial paper	Level 2	116,831		6		(18)		116,819
Total		$	1,991,928	$	1,568	$	(311)	$	1,993,185

		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