XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.25.3

FAIR VALUE MEASUREMENTS, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of fair value, assets measured on recurring basis | The following tables represent the fair value hierarchy for the Company’s financial assets measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024:
| September 30, 2025
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets: |  |  |  |  |  |  |
Money market funds | $ | 124,936 |  |  | $ | 124,936 |  |  | $ | — |  |  | $ | — |
Total cash equivalents | 124,936 |  |  | 124,936 |  |  | — |  |  | — |
U.S. government treasury bills | 413,238 |  |  | 413,238 |  |  | — |  |  | — |
Total short-term marketable securities | 413,238 |  |  | 413,238 |  |  | — |  |  | — |
Total | $ | 538,174 |  |  | $ | 538,174 |  |  | $ | — |  |  | $ | — |
| December 31, 2024
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets: |  |  |  |  |  |  |
Money market funds | $ | 94,697 |  |  | $ | 94,697 |  |  | $ | — |  |  | $ | — |
U.S. government treasury bills | 117,442 |  |  | 117,442 |  |  | — |  |  | — |
Total cash equivalents | 212,139 |  |  | 212,139 |  |  | — |  |  | — |
U.S. government treasury bills | 549,236 |  |  | 549,236 |  |  | — |  |  | — |
Total short-term marketable securities | 549,236 |  |  | 549,236 |  |  | — |  |  | — |
Total | $ | 761,375 |  |  | $ | 761,375 |  |  | $ | — |  |  | $ | — |
Schedule of cash equivalents and marketable debt securities | The following tables summarize the Company’s cash equivalents and marketable securities’ amortized costs, gross unrealized gains, gross unrealized losses and estimated fair values by significant investment category:
| September 30, 2025
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Money market funds | $ | 124,936 |  |  | $ | — |  |  | $ | — |  |  | $ | 124,936 |
U.S. government treasury bills | 413,108 |  |  | 130 |  |  | — |  |  | 413,238 |
Total | $ | 538,044 |  |  | $ | 130 |  |  | $ | — |  |  | $ | 538,174 |
| December 31, 2024
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Money market funds | $ | 94,697 |  |  | $ | — |  |  | $ | — |  |  | $ | 94,697 |
U.S. government treasury bills | 666,412 |  |  | 266 |  |  | — |  |  | 666,678 |
Total | $ | 761,109 |  |  | $ | 266 |  |  | $ | — |  |  | $ | 761,375 |

X
- Definition Tabular disclosure of assets 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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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/2009/role/commonPracticeRef -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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration