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Fair value of financial assets and liabilities
 3 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair value of financial assets and liabilities Fair value of financial assets and liabilities
The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:
Fair Value Measurements as of
June 30, 2025 Using:
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$— $90,758 $— $90,758 
Short-term investments
US Government Agency bonds— 58,497 — 58,497 
US Treasury bonds— 247,470 — 247,470 
$— $396,725 $— $396,725 
Fair Value Measurements as of
March 31, 2025 Using:
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$— $89,879 $— $89,879 
Short-term investments
US Government Agency bonds— 84,804 — 84,804 
US Treasury bonds— 287,881 — 287,881 
$— $462,564 $— $462,564 
The underlying securities in the money market funds held by the Company are all government backed securities.
During the three months ended June 30, 2025 and 2024, there were no transfers between levels.
Valuation of cash equivalents and short-term investments
Money market funds, U.S. Government Agency bonds and U.S. Treasury bonds were valued by the Company using quoted prices in active markets for similar securities, which represent a Level 2 measurement within the fair value hierarchy. Cash equivalents consisted of money market funds at June 30, 2025 and March 31, 2025.