Short-Term Investments (Tables)

3 Months Ended

Mar. 28, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Debt Securities

As of March 28, 2025, the Company’s available-for-sale investments consisted of the following cost, unrealized positions and estimated fair value, disaggregated by class of instrument:

			Gross Unrealized
(in thousands)	Cost		Gains		Losses		Estimated Fair Value
U.S. Treasury securities	$	204,941	$	71	$	(31)	$	204,981
Corporate bonds	123,894		29		(53)		123,870
Commercial paper instruments	10,137		—		—		10,137
Asset-backed securities	1,059		3		—		1,062
Total short-term investments	$	340,031	$	103	$	(84)	$	340,050

As of December 31, 2024, the Company’s available-for-sale investments consisted of the following cost, unrealized positions and estimated fair value, disaggregated by class of instrument:

			Gross Unrealized
(in thousands)	Cost		Gains		Losses		Estimated Fair Value
U.S. Treasury securities	$	178,016	$	67	$	(44)	$	178,039
Corporate bonds	103,970		77		(78)		103,969
Commercial paper instruments	17,657		6		—		17,663
Asset-backed securities	1,534		5		—		1,539
Total short-term investments	$	301,177	$	155	$	(122)	$	301,210