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INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

Marketable securities consisted of the following as of March 31, 2025 (in thousands):

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. treasury securities			$	94,417					$	151					$	(6)					$	94,562
Commercial paper			4,595						—						(3)						4,592
Corporate notes and obligations			285,572						408						(51)						285,929
Total marketable securities			$	384,584					$	559					$	(60)					$	385,083

Marketable securities consisted of the following as of December 31, 2024 (in thousands):

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. treasury securities			$	126,916					$	142					$	(13)					$	127,045
Commercial paper			18,414						19						—						18,433
Corporate notes and obligations			237,965						339						(67)						238,237
Total marketable securities			$	383,295					$	500					$	(80)					$	383,715

Schedule of Investments Classified by Contractual Maturity Date

The following table summarizes the estimated fair value of investments classified as marketable securities by contractual maturity date (in thousands):

			March 31, 2025						December 31, 2024
Due within 1 year			$	252,956					$	337,673
Due in 1 to 2 years			132,127						46,042
Total marketable securities			$	385,083					$	383,715

Schedule of Strategic Investments Activity

Strategic investment activity during the three months ended March 31, 2025 is summarized as follows (in thousands):

			Equity Securities						Limited Partnerships						Total
Balance as of December 31, 2024			$	8,685					$	5,669					$	14,354
Purchases of strategic investments			—						550						550
Unrealized gain on strategic investments			—						228						228
Impairment losses			(452)						—						(452)
Balance as of March 31, 2025			$	8,233					$	6,447					$	14,680

Strategic investment activity during the three months ended March 31, 2024 is summarized as follows (in thousands):

			Equity Securities						Limited Partnerships						Available-for- Sale Debt Securities						Total
Balance as of December 31, 2023			$	7,179					$	3,986					$	362					$	11,527
Interest accrued on available-for-sale debt securities			—						—						2						2
Purchases of strategic investments			—						210						—						210
Unrealized (loss) gain on strategic investments			671						88						—						759
Balance as of March 31, 2024			$	7,850					$	4,284					$	364					$	12,498

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- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

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-Name Accounting Standards Codification
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