Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2025

Marketable Securities

Schedule of Company's investing portfolio

The following is a summary of the Company’s investing portfolio (in thousands):

	AS OF MARCH 31, 2025
			UNREALIZED
	COST		GAINS		LOSSES			FAIR VALUE
Marketable securities
Maturities within one year:
U.S. treasury securities	$	176,927	$	395	$	(24	)	$	177,298
Debt securities issued by U.S. government agencies		101,911		163		(12	)		102,062
Commercial paper		34,178		5		(2	)		34,181
Corporate debt securities		92,797		83		(8	)		92,872
Total maturities within one year		405,813		646		(46	)		406,413
Maturities between one and two years:
U.S. treasury securities	$	79,792	$	140	$	(49	)	$	79,883
Debt securities issued by U.S. government agencies		61,797		405		—			62,202
Corporate debt securities		26,043		15		(37	)		26,021
Total maturities between one and two years		167,632		560		(86	)		168,106
Total marketable securities	$	573,445	$	1,206	$	(132	)	$	574,519

	AS OF DECEMBER 31, 2024
			UNREALIZED
	COST		GAINS		LOSSES			FAIR VALUE
Marketable securities:
Maturities within one year:
U.S. treasury securities	$	158,332	$	469	$	(34	)	$	158,767
Debt securities issued by U.S. government agencies		115,425		169		—			115,594
Commercial paper		35,508		49		—			35,557
Corporate debt securities		68,831		146		(31	)		68,946
Total maturities within one year		378,096		833		(65	)		378,864
Maturities between one and two years:
U.S. treasury securities	$	90,330	$	109	$	(271	)	$	90,168
Debt securities issued by U.S. government agencies		102,707		470		(75	)		103,102
Corporate debt securities		17,232		—		(86	)		17,146
Total maturities between one and two years		210,269		579		(432	)		210,416
Total marketable securities	$	588,365	$	1,412	$	(497	)	$	589,280