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FAIR VALUE OF FINANCIAL INSTRUMENTS | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS As of June 30, 2025 and December 31, 2024 the following financial assets and liabilities are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as follows:
| June 30, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market accounts | $ | 474,463 |  |  | $ | — |  |  | $ | — |  |  | $ | 474,463 |
U.S. Treasury securities | 9,991 |  |  | — |  |  | — |  |  | 9,991 |
Commercial paper | — |  |  | 5,979 |  |  | — |  |  | 5,979 |
Marketable securities, current: |  |  |  |  |  |  |
Certificates of deposit | — |  |  | 15,169 |  |  | — |  |  | 15,169 |
Commercial paper | — |  |  | 7,503 |  |  | — |  |  | 7,503 |
Corporate debt securities | — |  |  | 79,642 |  |  | — |  |  | 79,642 |
Yankee bonds | — |  |  | 3,211 |  |  | — |  |  | 3,211 |
U.S. Treasury securities | 18,530 |  |  | — |  |  | — |  |  | 18,530 |
Marketable securities, non-current |  |  |  |  |  |  |
Corporate debt securities | — |  |  | 15,597 |  |  | — |  |  | 15,597 |
U.S. Treasury securities | 10,725 |  |  | — |  |  | — |  |  | 10,725 |
Mortgage- and asset-backed securities | — |  |  | 34,841 |  |  | — |  |  | 34,841 |
Total | $ | 513,709 |  |  | $ | 161,942 |  |  | $ | — |  |  | $ | 675,651 |
| December 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market accounts | $ | 211,619 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,619 |
Marketable securities, current: |  |  |  |  |  |  |
Certificates of deposit | — |  |  | 21,795 |  |  | — |  |  | 21,795 |
Commercial paper | — |  |  | 10,109 |  |  | — |  |  | 10,109 |
Corporate debt securities | — |  |  | 57,589 |  |  | — |  |  | 57,589 |
Yankee bonds | — |  |  | 2,208 |  |  | — |  |  | 2,208 |
U.S. Treasury securities | 55,568 |  |  | — |  |  | — |  |  | 55,568 |
Mortgage- and asset-backed securities | — |  |  | 680 |  |  | — |  |  | 680 |
Marketable securities, non-current |  |  |  |  |  |  |
Corporate debt securities | — |  |  | 28,887 |  |  | — |  |  | 28,887 |
Yankee bonds | — |  |  | 378 |  |  | — |  |  | 378 |
U.S. Treasury securities | 10,552 |  |  | — |  |  | — |  |  | 10,552 |
Mortgage- and asset-backed securities | — |  |  | 20,869 |  |  | — |  |  | 20,869 |
Total | $ | 277,739 |  |  | $ | 142,515 |  |  | $ | — |  |  | $ | 420,254 |
The estimated fair value amounts shown above are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or ability to dispose of the financial instrument. There were no transfers between fair value measurement levels during the six months ended June 30, 2025. Convertible Senior Notes The Company measures the fair value of its convertible senior notes on a quarterly basis for disclosure purposes. The Company considers the fair value of its convertible senior notes as of June 30, 2025 to be a Level 2 measurement due to limited trading activity of the convertible senior notes. As of June 30, 2025, the net carrying amount of the convertible senior notes was $346,466, with unamortized discount and debt issuance costs of $8,534. As of June 30, 2025, the total estimated fair value (Level 2) of the convertible senior notes was $2,497,542. The fair value was determined based on the closing trading price of the convertible senior notes as of the last day of trading for the period.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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