Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2026

Marketable Securities [Abstract]

Summary of Marketable Securities by Security

The following tables provide the amortized cost and fair value of the Company’s available-for-sale securities by security type (in thousands):

	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	124,045	$	2	$	(82	)	$	123,965
Corporate bonds		791,990		644		(1,707	)		790,927
Government and agency securities		193,418		100		(316	)		193,202
U.S. treasury bills		19,645		4		—			19,649
	$	1,129,098	$	750	$	(2,105	)	$	1,127,743

	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	107,889	$	17	$	(22	)	$	107,884
Corporate bonds		772,457		2,233		(184	)		774,506
Government and agency securities		207,684		340		(34	)		207,990
U.S. treasury bills		19,824		3		—			19,827
	$	1,107,854	$	2,593	$	(240	)	$	1,110,207

Summary of Contractual Maturities of Available-for-sale Debt Securities

The following table summarizes the amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity (in thousands):

	March 31, 2026
	Amortized Cost		Fair Value
Due within one year	$	580,387	$	580,435
Due after one year through three years		548,711		547,308
	$	1,129,098	$	1,127,743