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FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Net Unrealized Gains (Losses), and Fair Value by Major Security Type for Our Investments

The following table presents amortized cost, gross unrealized gains and losses, and fair value by major security type and balance sheet classification as of March 31, 2025 and December 31, 2024:

As of March 31, 2025
(In thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Cash Equivalents						Short-Term Investments						Long-Term Investments
Cash			$	—					$	—					$	—					$	80,352					$	80,352					$	—					$	—
Level 1
Commercial paper			$	12,060					$	13					$	—					$	12,073					$	—					$	12,060					$	—
Money market funds			803,644						—						—						803,644						803,644						—						—
Subtotal			$	815,704					$	13					$	—					$	815,717					$	803,644					$	12,060					$	—
Level 2
Asset-backed securities			$	20,972					$	9					$	(2)					$	20,979					$	—					$	1,842					$	19,130
Certificates of deposit			15,521						3						(4)						15,520						—						15,521						—
Corporate debt securities			138,324						40						(215)						138,149						—						85,861						52,463
U.S. Treasury securities			10,349						6						(6)						10,349						—						—						10,349
Subtotal			$	185,166					$	58					$	(227)					$	184,997					$	—					$	103,224					$	81,942
Level 3
Investment in SAFE			$	—					$	—					$	—					$	1,400					$	—					$	—					$	1,400
Subtotal			$	—					$	—					$	—					$	1,400					$	—					$	—					$	1,400
Total			$	1,000,870					$	71					$	(227)					$	1,082,466					$	883,996					$	115,284					$	83,342

As of December 31, 2024
(In thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Cash Equivalents						Short-Term Investments						Long-Term Investments
Cash			$	—					$	—					$	—					$	73,351					$	73,351					$	—					$	—
Level 1
Commercial paper			$	15,659					$	2					$	(1)					$	15,661					$	—					$	15,659					$	—
Money market funds			712,440						—						—						712,440						712,440						—						—
Subtotal			$	728,099					$	2					$	(1)					$	728,101					$	712,440					$	15,659					$	—
Level 2
Asset-backed securities			$	16,280					$	10					$	(1)					$	16,289					$	—					$	697					$	15,583
Certificates of deposit			11,521						—						(14)						11,507						—						11,521						—
Corporate debt securities			126,031						7						(494)						125,543						—						55,013						71,018
U.S. Treasury securities			19,255						2						(61)						19,195						—						8,964						10,291
Subtotal			$	173,087					$	19					$	(570)					$	172,534					$	—					$	76,195					$	96,892
Level 3
Investment in SAFE			$	—					$	—					$	—					$	1,400					$	—					$	—					$	1,400
Subtotal			$	—					$	—					$	—					$	1,400					$	—					$	—					$	1,400
Total			$	901,186					$	21					$	(571)					$	975,386					$	785,791					$	91,854					$	98,292

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- References

No definition available.

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- Definition

Tabular disclosure of liabilities measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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