v3.25.4
Financial instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of
input within the fair value hierarchy:
Year Ended December 31,
2025
2024
Cash and Cash Equivalents
(in thousands)
Level 1
Cash
$160,252
$251,452
Money market funds
89,157
12,479
Level 2
Commercial paper
$35,139
$5,150
  Term deposits
41,614
20,157
Structured debt securities
15,876
1,455
Total
$342,038
$290,693
Schedule of Financial Assets The following table presents for each reporting period, the breakdown of investment securities held at cost basis:
Year Ended December 31,
2025
2024
(in thousands)
Securities Held-to-maturity
Commercial paper
$17,366
$15,584
Structured debt securities
17,625
26,242
Corporate debt securities
11,750
—
Total
$46,742
$41,826
Debt Securities, Available-for-sale The following table classifies our held-to-maturity securities by contractual maturities:
Held-to-maturity
December 31, 2025
(in thousands)
Due in one year
$23,242
Due in one to five years
23,500
Total
$46,742