Short-Term Investments (Tables)

3 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Short-term investments consisted of the following as of the dates presented (in thousands):


	September 30, 2023
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Corporate bonds	$	454,350	$	75	$	(2,008)	$	452,417
U.S. treasury securities	484,895		17		(1,083)		483,829
Asset-backed securities	63,323		17		(120)		63,220
Certificates of deposit	65,904		—		—		65,904
U.S. agency securities	54,283		6		(203)		54,086
Total	$	1,122,755	$	115	$	(3,414)	$	1,119,456


	June 30, 2023
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Corporate bonds	$	481,658	$	207	$	(2,382)	$	479,483
U.S. treasury securities	409,586		42		(1,260)		408,368
U.S. agency securities	58,166		—		(199)		57,967
Asset-backed securities	51,321		8		(136)		51,193
Certificates of deposit	46,099		—		—		46,099
Total	$	1,046,830	$	257	$	(3,977)	$	1,043,110

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):


	September 30, 2023
	Fair value		Unrealized losses
Corporate bonds	$	292,968	$	(2,008)
U.S. treasury securities	298,908		(1,083)
Asset-backed securities	47,466		(120)
U.S. agency securities	49,275		(203)
Total	$	688,617	$	(3,414)


	June 30, 2023
	Fair value		Unrealized losses
Corporate bonds	$	296,562	$	(2,382)
U.S. treasury securities	213,726		(1,260)
Asset-backed securities	38,426		(136)
U.S. agency securities	57,967		(199)
Total	$	606,681	$	(3,977)