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INVESTMENTS IN DEBT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Short-term and Long-term Investments
The Company's short-term and long-term investments as of June 30, 2025 and December 31, 2024 were as follows (in thousands):
June 30, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$12,517 $1 $— $12,518 
Corporate bonds74,821 253 (2)75,072 
Commercial paper533 — — 533 
Municipal securities130 — — 130 
Certificates of deposit1,246 — — 1,246 
U.S. government securities223,583 340 (11)223,912 
Total$312,830 $594 $(13)$313,411 
Long-term debt securities:
U.S. agency securities$47,000 $50 $(5)$47,045 
Corporate bonds26,014 86 (25)26,075 
Municipal securities5,773 43 (235)5,581 
U.S. government securities117,223 675 (27)117,871 
Total$196,010 $854 $(292)$196,572 

December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$34,454 $15 $(1)$34,468 
Corporate bonds160,238 248 (96)160,390 
Commercial paper333 — — 333 
Municipal securities398 1 — 399 
Certificates of deposit1,051 — — 1,051 
U.S. government securities206,340 449 (4)206,785 
Total$402,814 $713 $(101)$403,426 
Long-term debt securities:
U.S. agency securities$49,017 $23 $(10)$49,030 
Corporate bonds195,035 693 (384)195,344 
Municipal securities4,592 4 (251)4,345 
U.S. government securities222,164 1,218 (124)223,258 
Total$470,808 $1,938 $(769)$471,977 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2025 and December 31, 2024, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands):
June 30, 2025
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
Corporate bonds$8,205 $(2)$— $— $8,205 $(2)
U.S. government securities84,758 (11)— — 84,758 (11)
Total$92,963 $(13)$— $— $92,963 $(13)
Long-term debt securities:
U.S. agency securities$7,996 $(5)$— $— $7,996 $(5)
Corporate bonds7,276 (25)— — 7,276 (25)
Municipal securities2,747 (121)349 (114)3,096 (235)
U.S. government securities20,634 (27)— — 20,634 (27)
Total$38,653 $(178)$349 $(114)$39,002 $(292)

December 31, 2024
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
U.S. agency securities$18,954 $(1)$— $— $18,954 $(1)
Corporate bonds50,905 (93)1,995 (3)52,900 (96)
U.S. government securities— — 3,994 (4)3,994 (4)
Total$69,859 $(94)$5,989 $(7)$75,848 $(101)
Long-term debt securities:
U.S. agency securities$9,990 $(10)$— $— $9,990 $(10)
Corporate bonds80,550 (384)— — 80,550 (384)
Municipal securities2,848 (128)363 (123)3,211 (251)
U.S. government securities58,681 (124)— — 58,681 (124)
Total$152,069 $(646)$363 $(123)$152,432 $(769)
Schedule of Contractual Maturities of Short-Term and Long-Term Investments
The contractual maturities of the Company's short-term and long-term investments as of June 30, 2025 were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$312,830 $313,411 
Due in one to five years196,010 196,572 
Total$508,840 $509,983