FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash, Cash Equivalents and Available-for-Sale Securities by Significant Investment Category

The following tables show the Company’s cash, cash equivalents and available-for-sale securities by significant investment category as of the dates presented:


	September 30, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value		Cash and Cash Equivalents		Short-term Marketable Securities (1)		Long-term Marketable Securities (2)
Level 1:
Cash	$	400,492	$	—	$	—	$	400,492	$	400,492	$	—	$	—

Level 2:
Money market instruments	844,616		—		—		844,616		844,616		—		—
Corporate debt securities	474,892		3,520		(26)		478,386		—		181,605		296,781
U.S. government agency securities	202,584		991		(21)		203,554		5,000		45,912		152,642

Asset-backed securities	63,313		423		(8)		63,728		—		214		63,514

Subtotal	1,585,405		4,934		(55)		1,590,284		849,616		227,731		512,937
Total	$	1,985,897	$	4,934	$	(55)	$	1,990,776	$	1,250,108	$	227,731	$	512,937


	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value		Cash and Cash Equivalents		Short-term Marketable Securities (1)		Long-term Marketable Securities (2)
Level 1:
Cash	$	329,619	$	—	$	—	$	329,619	$	329,619	$	—	$	—

Level 2:
Money market instruments	613,223		—		—		613,223		613,223		—		—
Corporate debt securities	503,202		2,410		(390)		505,222		—		168,104		337,118
Asset-backed securities	138,508		363		(344)		138,527		—		25,864		112,663

U.S. government agency securities	72,027		359		(33)		72,353		—		896		71,457

Subtotal	1,326,960		3,132		(767)		1,329,325		613,223		194,864		521,238
Total	$	1,656,579	$	3,132	$	(767)	$	1,658,944	$	942,842	$	194,864	$	521,238

(1) The Company’s short-term marketable securities mature in one year or less.

(2) The Company’s long-term marketable securities mature between one and five years.