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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 (in thousands):
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable
Inputs (Level 2)
Unobservable Inputs (Level 3)
Assets:
Money market instruments$15,242 $— $— 
Corporate bonds— 340,916 — 
Treasury notes— 45,634 — 
Asset-backed securities— 13,314 — 
Sovereign bonds— 990 — 
Economic hedge forward contracts— 324 — 
Liabilities:
Economic hedge forward contracts— 211 —