Cash, Cash Equivalents and Investments (Tables)

12 Months Ended

Dec. 31, 2024

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents, Marketable Securities, and Available-for-Sale Investments

The following table summarizes our cash, cash equivalents, marketable securities and available-for-sale investments at December 31, 2024 (in thousands):


	As of December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	94,919	$	—	$	—	$	94,919	$	94,919	$	—	$	—

Level 1:
Money market funds	322,874		—		—		322,874		322,874		—		—
Agency bonds	996		—		—		996		—		—		996
U.S. Government bonds	75,994		7		(5)		75,996		—		—		75,996
U.S. Treasury bills	14,431		25		—		14,456		—		—		14,456
Marketable securities	90,000		108,270		—		198,270		—		198,270		—
Subtotal	504,295		108,302		(5)		612,592		322,874		198,270		91,448
Level 2:
Term deposits	136,480		—		—		136,480		11,480		—		125,000
Corporate bonds	122,018		10		(63)		121,965		24,075		—		97,890
Commercial paper	20,393		—		—		20,393		1,496		—		18,897
Subtotal	278,891		10		(63)		278,838		37,051		—		241,787
Total	$	878,105	$	108,312	$	(68)	$	986,349	$	454,844	$	198,270	$	333,235

The following table summarizes our cash, cash equivalents and available-for-sale investments at December 31, 2023 (in thousands):


	As of December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities		Short-Term Investments
Cash	$	406,743	$	—	$	—	$	406,743	$	406,743	$	—	$	—

Level 1:
Money market funds	1,470		—		—		1,470		1,470		—		—
Agency bonds	222,057		2		(174)		221,885		101,635		—		120,250
U.S. Government bonds	238,747		120		(237)		238,630		—		—		238,630
U.S. Treasury bills	148,063		28		—		148,091		88,697		—		59,394
Marketable securities	90,000		—		(12,060)		77,940		—		77,940		—
Subtotal	700,337		150		(12,471)		688,016		191,802		77,940		418,274
Level 2:
Term deposits	128,205		—		—		128,205		—		—		128,205
Corporate bonds	80,646		8		(165)		80,489		—		—		80,489
Treasury inflation-protected securities	2,635		—		(5)		2,630		—		—		2,630
Commercial paper	14,456		—		—		14,456		—		—		14,456
Subtotal	225,942		8		(170)		225,780		—		—		225,780
Total	$	1,333,022	$	158	$	(12,641)	$	1,320,539	$	598,545	$	77,940	$	644,054