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FAIR VALUE MEASUREMENTS | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The Company's financial instruments consist of cash equivalents, short-term and long-term investments, accounts receivable, accounts payable, and revolving lines of credit. The valuation techniques used to measure fair value are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company classifies its financial instruments according to the prescribed criteria. The fair value of money market fund deposits, cash equivalent term deposits, accounts receivable, accounts payable and drawings on revolving lines of credit is reasonably close to their carrying amounts due to the short maturity of most of these instruments or as a result of the competitive market interest rates, which have been negotiated. The fair value of the Company's commercial paper, corporate bonds, U.S. Treasury and agency obligations and term deposits are based on Level 2 inputs. The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the Condensed Consolidated Balance Sheets:
| Fair Value Measurements at March 31, 2026
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market fund deposits | $ | 90,932 |  |  | $ | 90,932 |  |  | $ | — |  |  | $ | — |
Commercial paper | 137,102 |  |  | — |  |  | 137,102 |  |  | — |
Term deposits | 57,896 |  |  | — |  |  | 57,896 |  |  | — |
Total cash equivalents | 285,930 |  |  | 90,932 |  |  | 194,998 |  |  | — |
Short-term investments: |  |  |  |  |  |  |
Corporate bonds | 204,066 |  |  | — |  |  | 204,066 |  |  | — |
U.S. Treasury and agency obligations | 62,488 |  |  | — |  |  | 62,488 |  |  | — |
Commercial paper | 62,407 |  |  | — |  |  | 62,407 |  |  | — |
Term deposits | 3,161 |  |  | — |  |  | 3,161 |  |  | — |
Total short-term investments | 332,122 |  |  | — |  |  | 332,122 |  |  | — |
Long-term investments: |  |  |  |  |  |  |
Corporate bonds | 52,195 |  |  | — |  |  | 52,195 |  |  | — |
U.S. Treasury and agency obligations | 18,146 |  |  | — |  |  | 18,146 |  |  | — |
Total long-term investments | 70,341 |  |  | — |  |  | 70,341 |  |  | — |
Total | $ | 688,393 |  |  | $ | 90,932 |  |  | $ | 597,461 |  |  | $ | — |
| Fair Value Measurements at December 31, 2025
| Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market fund deposits | $ | 173,538 |  |  | $ | 173,538 |  |  | $ | — |  |  | $ | — |
Term deposits | 58,782 |  |  | — |  |  | 58,782 |  |  | — |
Total cash equivalents | 232,320 |  |  | 173,538 |  |  | 58,782 |  |  | — |
Short-term investments: |  |  |  |  |  |  |
Corporate bonds | 264,431 |  |  | — |  |  | 264,431 |  |  | — |
Commercial paper | 101,922 |  |  | — |  |  | 101,922 |  |  | — |
U.S. Treasury and agency obligations | 66,469 |  |  | — |  |  | 66,469 |  |  | — |
Term deposits | 3,104 |  |  | — |  |  | 3,104 |  |  | — |
Total short-term investments | 435,926 |  |  | — |  |  | 435,926 |  |  | — |
Long-term investments: |  |  |  |  |  |  |
Corporate bonds | 52,294 |  |  | — |  |  | 52,294 |  |  | — |
U.S. Treasury and agency obligations | 24,300 |  |  | — |  |  | 24,300 |  |  | — |
Total long-term investments | 76,594 |  |  | — |  |  | 76,594 |  |  | — |
Total | 744,840 |  |  | 173,538 |  |  | 571,302 |  |  | — |
There were no impairments for the investments considered held-to-maturity during the quarters ended March 31, 2026 and 2025. There were no current expected credit loss allowances for the investments considered held-to-maturity at March 31, 2026 and December 31, 2025. The Company holds highly-rated held-to-maturity instruments that are within five years of maturity. The Company did not have any allowance for credit losses other than the allowance for uncollectible accounts receivable. As of March 31, 2026 and December 31, 2025, the allowance for credit losses on trade receivables was $2,217 and $2,189, respectively. The following table presents the effective maturity dates of debt investments, which are held-to-maturity:
| March 31, 2026 |  | December 31, 2025
| Book Value |  | Fair Value |  | Book Value |  | Fair Value
Investment maturity |  |  |  |  |  |  |
Less than 1 year | $ | 332,144 |  |  | $ | 332,122 |  |  | $ | 435,538 |  |  | $ | 435,926 |
1 - 5 years | 70,567 |  |  | 70,341 |  |  | 76,533 |  |  | 76,594 |
Total | $ | 402,711 |  |  | $ | 402,463 |  |  | $ | 512,071 |  |  | $ | 512,520 |

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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