
	As of June 30, 2024
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:
Commercial paper	$	2,181	$	—	$	(1)	$	2,180

Money market funds	99,415		—		—		99,415

Total cash equivalents	101,596		—		(1)		101,595
Marketable securities:


Commercial paper	41,608		—		(32)		41,576
Corporate notes and bonds	351,230		110		(414)		350,926

U.S. government and agency securities	247,556		23		(1,035)		246,544

Total marketable securities	640,394		133		(1,481)		639,046
Total cash equivalents and marketable securities	$	741,990	$	133	$	(1,482)	$	740,641


	As of March 31, 2024
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:

Corporate notes and bonds	$	1,180	$	—	$	—	$	1,180
Money market funds	83,049		—		—		83,049

Total cash equivalents	84,229		—		—		84,229
Marketable securities:
Asset-backed securities	121		—		—		121

Commercial paper	70,804		1		(50)		70,755
Corporate notes and bonds	225,880		133		(191)		225,822
Sovereign bonds	7,749		—		(73)		7,676
U.S. government and agency securities	365,123		2		(3,384)		361,741
Total marketable securities	669,677		136		(3,698)		666,115
Total cash equivalents and marketable securities	$	753,906	$	136	$	(3,698)	$	750,344

As of June 30, 2024 and March 31, 2024, the Company has recognized accrued interest of $4.5 million and $3.8 million, respectively, which is included in prepaid expenses and other current assets in the condensed consolidated balance sheets.

The unrealized losses associated with the Company’s debt securities were $1.5 million and $3.7 million as of June 30, 2024 and March 31, 2024, respectively. As the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or until the cost basis is recovered, the Company did not recognize any impairment on these securities as of June 30, 2024 or March 31, 2024. The Company did not recognize any credit losses related to the Company’s debt securities as of June 30, 2024 or March 31, 2024. The fair value related to the debt securities with unrealized losses for which no credit losses were recognized was $486.8 million and $547.5 million as of June 30, 2024 and March 31, 2024, respectively.

The following tables summarize the gross unrealized losses and fair values of investments in an unrealized loss position, aggregated by security type and length of time that the individual securities have been in a continuous unrealized loss position (in thousands):


	As of June 30, 2024
	Less than 12 months				12 months or greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses


Commercial paper	$	43,756	$	(33)	$	—	$	—	$	43,756	$	(33)
Corporate notes and bonds	232,976		(414)		—		—		232,976		(414)

U.S. government and agency securities	85,304		(245)		124,793		(790)		210,097		(1,035)
Total	$	362,036	$	(692)	$	124,793	$	(790)	$	486,829	$	(1,482)


	As of March 31, 2024
	Less than 12 months				12 months or greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Asset-backed securities	$	—	$	—	$	121	$	—	$	121	$	—

Commercial paper	67,336		(50)		—		—		67,336		(50)
Corporate notes and bonds	131,443		(191)		—		—		131,443		(191)
Sovereign bonds	—		—		7,676		(73)		7,676		(73)
U.S. government and agency securities	81,130		(139)		259,784		(3,245)		340,914		(3,384)
Total	$	279,909	$	(380)	$	267,581	$	(3,318)	$	547,490	$	(3,698)