Foreign Currency Risk Our condensed consolidated results of operations, financial position and cash flows are subject to fluctuations due to changes in foreign currency exchange rates. Historically, the majority of our revenue contracts are denominated in U.S. Dollars, with the most significant exception being Japan where we invoice primarily in Japanese Yen. Our costs and expenses are generally denominated in the currencies where our operations are located, which is primarily in the Americas, EMEA and, to a lesser extent, Japan and the Asia Pacific region. We have a hedging program with respect to foreign currency risk. Revenue resulting from selling in local currencies and costs and expenses incurred in local currencies are exposed to foreign currency exchange rate fluctuations, which can affect our revenue and operating income. As exchange rates vary, operating income may differ from expectations. The functional currency of our foreign subsidiaries is the U.S. Dollar. At the end of each reporting period, monetary assets and liabilities are remeasured to the functional currency using exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are remeasured at historical exchange rates. Gains and losses related to remeasurement are recorded in interest and other income, net in the condensed consolidated statements of operations. A significant fluctuation in the exchange rates between our subsidiaries’ local currencies, especially the Japanese Yen, British Pound and Euro, and the U.S. Dollar could have an adverse impact on our condensed consolidated financial position and results of operations. 41 We recorded $0.6 million of net foreign exchange losses and $0.5 million of net foreign exchange gains during the three months ended June 30, 2026 and 2025, respectively, and recorded $0.8 million of net foreign exchange losses and $0.7 million of net foreign exchange gains during the six months ended June 30, 2026 and 2025, respectively. The effect of a hypothetical 10% change in our exchange rate would not have a significant impact on our condensed consolidated results of operations. Interest Rate Sensitivity Our exposure to market risk for changes in interest rates relates primarily to our marketable securities. Our marketable securities are typically comprised of corporate securities, U.S. Treasury and agency securities, commercial paper, asset-backed securities and equity securities of publicly traded companies. We do not enter into investments for trading or speculative purposes. As of June 30, 2026, our investment portfolio included marketable securities with an aggregate amortized cost basis of $303.2 million and a fair value of $302.7 million. The effect of a hypothetical 10% change in interest rates would not have a material impact on our interest expense. The following table presents the hypothetical fair values of our marketable securities assuming immediate parallel shifts in the yield curve of 50 basis points (“BPS”), 100 BPS and 150 BPS as of June 30, 2026 (in thousands): Fair Value as of (150 BPS) (100 BPS) (50 BPS) 6/30/2026 50 BPS 100 BPS 150 BPS Marketable securities $ 305,626 $ 304,698 $ 303,713 $ 302,669 $ 301,567 $ 300,407 $ 299,190