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CASH, CASH EQUIVALENTS AND INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The following table presents the Company’s cash, cash equivalents and short-term investments:
September 30, 2024December 31, 2023
(in thousands)Amortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair ValueAmortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair Value
Cash:
Demand deposits$5,406 $— $— $5,406 $2,795 $— $— $2,795 
Cash equivalents:
Money market funds118,774 — — 118,774 61,166 — — 61,166 
U.S. Treasury securities68,669 13 — 68,682 92,113 14 — 92,127 
Commercial paper
84,626 23 — 84,649 93,447 15 — 93,462 
Certificates of deposit
6,672 1 — 6,673 13,799 2 — 13,801 
Municipal securities
250 — — 250 — — — — 
Total cash equivalents278,991 37 — 279,028 260,525 31 — 260,556 
Total cash and equivalents284,397 37 — 284,434 263,320 31 — 263,351 
Short-term investments:
U.S. agency securities2,240 — (1)2,239 118,370 — (78)118,292 
U.S. Treasury securities562,072 429 (8)562,493 615,962 249 (10)616,201 
Commercial paper
17,320 4 — 17,324 — — — — 
Total short-term investments581,632 433 (9)582,056 734,332 249 (88)734,493 
Total cash, cash equivalents and short-term investments$866,029 $470 $(9)$866,490 $997,652 $280 $(88)$997,844 
Schedule of Cash and Cash Equivalents
The following table presents the Company’s cash, cash equivalents and short-term investments:
September 30, 2024December 31, 2023
(in thousands)Amortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair ValueAmortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair Value
Cash:
Demand deposits$5,406 $— $— $5,406 $2,795 $— $— $2,795 
Cash equivalents:
Money market funds118,774 — — 118,774 61,166 — — 61,166 
U.S. Treasury securities68,669 13 — 68,682 92,113 14 — 92,127 
Commercial paper
84,626 23 — 84,649 93,447 15 — 93,462 
Certificates of deposit
6,672 1 — 6,673 13,799 2 — 13,801 
Municipal securities
250 — — 250 — — — — 
Total cash equivalents278,991 37 — 279,028 260,525 31 — 260,556 
Total cash and equivalents284,397 37 — 284,434 263,320 31 — 263,351 
Short-term investments:
U.S. agency securities2,240 — (1)2,239 118,370 — (78)118,292 
U.S. Treasury securities562,072 429 (8)562,493 615,962 249 (10)616,201 
Commercial paper
17,320 4 — 17,324 — — — — 
Total short-term investments581,632 433 (9)582,056 734,332 249 (88)734,493 
Total cash, cash equivalents and short-term investments$866,029 $470 $(9)$866,490 $997,652 $280 $(88)$997,844 
Interest and Other Income
The Company recognized the following income and expense amounts, all of which are included in “Other income, net” within the Company’s unaudited Condensed Consolidated Statements of Operations:
For the three months ended September 30,For the nine months ended September 30,
(in thousands)2024202320242023
Gross realized gains$3 $1 $6 $506 
Gross realized losses$1 $— $15 $139 
Interest and investment income(1)
$11,759 $14,455 $37,031 $41,607 
(1)Includes interest and investment income on the Company’s available-for-sale securities and other money market funds.