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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of Cash and Cash Equivalents | The following table shows the breakout between cash and money market funds.
| December 31, 2023 |  | December 31, 2022
Cash | $ | 50,373 |  |  | $ | 91,189 |
Money market funds | 697,237 |  |  | 516,991 |
Total | $ | 747,610 |  |  | $ | 608,180 |
Property, Plant and Equipment |
Asset Class | Estimated Useful Life
Furniture, fixtures and equipment | 4 to 6 years
Leasehold improvements | 5 to 7 years
Property and equipment consists of the following as of December 31, 2023 and December 31, 2022:
(In thousands) | 2023 |  | 2022
Leasehold improvements | $ | 18,191 |  |  | $ | 15,983 |
Furniture, fixtures and equipment | 5,869 |  |  | 5,204 |
Total property and equipment | 24,060 |  |  | 21,187 |
Less: accumulated depreciation | (12,268) |  |  | (8,218) |
Total property and equipment, net | $ | 11,792 |  |  | $ | 12,969 |
Depreciation expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).
|  |  | Year Ended December 31,
(In thousands) |  |  |  |  | 2023 |  | 2022 |  | 2021
Research and development |  |  |  |  | $ | 1,650 |  |  | $ | 1,500 |  |  | $ | 260 |
Sales and marketing |  |  |  |  | 190 |  |  | 190 |  |  | 32 |
General and administrative |  |  |  |  | 2,260 |  |  | 1,428 |  |  | 1,741 |
Total |  |  |  |  | $ | 4,100 |  |  | $ | 3,118 |  |  | $ | 2,033 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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