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CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES | 6 Months Ended
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Jun. 30, 2025
Cash and Cash Equivalents [Abstract] |
CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES | CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES Cash and cash equivalents and marketable securities consisted of the following as of June 30, 2025 and December 31, 2024:
| June 30, 2025 |  | December 31, 2024
Cash and cash equivalents | $ | 564,081 |  |  | $ | 271,042 |
Marketable securities, current | 124,055 |  |  | 147,948 |
Marketable securities, non-current | 61,163 |  |  | 60,686 |
Total cash and cash equivalents and marketable securities | $ | 749,299 |  |  | $ | 479,676 |
As of June 30, 2025, cash equivalents and marketable securities consisted of the following:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash Equivalents |  | Marketable Securities
Money market accounts | $ | 474,463 |  |  | $ | — |  |  | $ | — |  |  | $ | 474,463 |  |  | $ | 474,463 |  |  | $ | — |
Certificates of deposit | 15,163 |  |  | 7 |  |  | (1) |  |  | 15,169 |  |  | — |  |  | 15,169 |
Commercial paper | 13,481 |  |  | 2 |  |  | (1) |  |  | 13,482 |  |  | 5,979 |  |  | 7,503 |
Corporate debt securities | 95,135 |  |  | 115 |  |  | (11) |  |  | 95,239 |  |  | — |  |  | 95,239 |
Yankee bonds | 3,208 |  |  | 4 |  |  | (1) |  |  | 3,211 |  |  | — |  |  | 3,211 |
U.S. Treasury securities | 39,240 |  |  | 22 |  |  | (16) |  |  | 39,246 |  |  | 9,991 |  |  | 29,255 |
Mortgage- and asset-backed securities | 34,744 |  |  | 97 |  |  | — |  |  | 34,841 |  |  | — |  |  | 34,841 |
Total | $ | 675,434 |  |  | $ | 247 |  |  | $ | (30) |  |  | $ | 675,651 |  |  | $ | 490,433 |  |  | $ | 185,218 |
The following table presents the Company’s marketable securities with unrealized losses by investment category and the length of time the marketable securities have been in a continuous loss position as of June 30, 2025:
| In Loss Position for Less than 12 Months |  |  |  |
| Fair Value |  | Unrealized Losses |  |  |  |  |  |  |  |
Certificates of deposit | $ | 2,499 |  |  | $ | (1) |  |  |  |  |  |  |  |  |
Commercial paper | 5,979 |  |  | (1) |  |  |  |  |  |  |  |  |
Corporate debt securities | 12,466 |  |  | (11) |  |  |  |  |  |  |  |  |
Yankee bonds | 2,724 |  |  | (1) |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 10,639 |  |  | (16) |  |  |  |  |  |  |  |  |
Total | $ | 34,307 |  |  | $ | (30) |  |  |  |  |  |  |  |  |
The Company has not observed a significant deterioration in credit quality of these securities, which are highly rated with moderate to low credit risk. Declines in value are largely attributable to current global economic conditions. The securities continue to make timely principal and interest payments, and the fair values are expected to recover as they approach maturity. The Company does not intend to sell the securities, and it is not more likely than not that the Company will be required to sell the securities, before the respective recoveries of their amortized cost bases, which may be maturity. As of June 30, 2025, the Company had not recognized an allowance for credit losses on any marketable securities in an unrealized loss position. The following table summarizes the contractual maturities of the Company’s cash equivalents and marketable securities as of June 30, 2025:
| Amortized Cost |  | Fair Value
Due within one year | $ | 614,394 |  |  | $ | 614,488 |
Due within one to two years | 61,040 |  |  | 61,163 |
Total | $ | 675,434 |  |  | $ | 675,651 |

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- Definition The entire disclosure of cash, cash equivalent, and debt and equity securities, including realized and unrealized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
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