Quarterly report [Sections 13 or 15(d)]

Fair Value Measures (Tables)

v3.26.3
Fair Value Measures (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are as follows:

As of September 30, 2026
(in thousands) Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents:
Money market funds $ 637  $ —  $ —  $ 637 
U.S. government treasury bills
 —  5,000  —  5,000 
Time deposits (1)
—  22,318  —  22,318 
Short-term investments:
Available-for-sale short-term investments: (2)
U.S. government treasury bills
 —  9,993  —  9,993 
Other short-term investments:
Money market funds 248  —  —  248 
Mutual fund shares 2,414  —  —  2,414 
Prepaid expenses and other current assets:
Derivative financial instruments —  12,323  —  12,323 
Other non-current assets:
Money market funds 3,062  —  —  3,062 
Mutual fund shares 34,565  —  —  34,565 
Derivative financial instruments —  8,224  —  8,224 
Total assets measured at fair value $ 40,926  $ 57,858  $ —  $ 98,784 
Liabilities:
Accrued liabilities:
Derivative financial instruments $ —  $ 8,079  $ —  $ 8,079 
Other long-term liabilities:
Derivative financial instruments —  3,827  —  3,827 
Total liabilities measured at fair value $ —  $ 11,906  $ —  $ 11,906 
(1) Time deposits are carried at amortized cost on the unaudited Condensed Consolidated Balance Sheets, which reasonably approximates fair value.
(2) Available-for-sale short-term investments have remaining maturities of less than one year.
As of December 31, 2025
(in thousands) Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents:
Money market funds $ 76,680  $ —  $ —  $ 76,680 
U.S. government treasury bills
 —  50,050  —  50,050 
Commercial paper —  24,856  —  24,856 
Time deposits (1)
—  10,456  —  10,456 
Short-term investments:
Available-for-sale short-term investments: (2)
U.S. government treasury bills —  321,766  —  321,766 
Commercial paper —  24,676  —  24,676 
Other short-term investments:
Money market funds 292  —  —  292 
Mutual fund shares 2,032  —  —  2,032 
Prepaid expenses and other current assets:
Derivative financial instruments —  7,039  —  7,039 
Other non-current assets:
Money market funds 3,656  —  —  3,656 
Mutual fund shares 31,923  —  —  31,923 
Derivative financial instruments —  2,788  —  2,788 
Total assets measured at fair value $ 114,583  $ 441,631  $ —  $ 556,214 
Liabilities:
Accrued liabilities:
Derivative financial instruments $ —  $ 9,795  $ —  $ 9,795 
Other long-term liabilities:
Derivative financial instruments —  5,732  —  5,732 
Total liabilities measured at fair value $ —  $ 15,527  $ —  $ 15,527 
(1) Time deposits are carried at amortized cost on the unaudited Condensed Consolidated Balance Sheets, which reasonably approximates fair value.
(2) Available-for-sale short-term investments have remaining maturities of less than one year.