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CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2024
Cash and Cash Equivalents [Abstract] |
Summary of Company Financial Assets with Maturities of Less Than 90 Days Included in Cash Equivalents | The following table summarizes the Company’s financial assets with maturities of less than 90 days from the date of purchase included in cash equivalents in the unaudited condensed consolidated balance sheets for each of the periods indicated:
|  | As of June 30, 2024 |  |  | As of December 31, 2023 |
|  | (in thousands) |
Money market funds |  | $ | 100,859 |  |  | $ | 63,919 |
Government and government agency bonds |  |  | 29,058 |  |  |  | — |
Corporate bonds |  |  | 9,121 |  |  |  | — |
Commercial paper |  |  | — |  |  |  | 53,680 |
Total |  | $ | 139,038 |  |  | $ | 117,599 |
Summary of Company Cash, Cash Equivalents and Short-Term Investments | The following tables summarize the Company’s cash, cash equivalents and short-term investments for each of the periods indicated:
|  | As of June 30, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Market Value |
|  | (in thousands) |
Cash and money market funds |  | $ | 345,443 |  |  | $ | — |  |  | $ | — |  |  | $ | 345,443 |
Commercial paper |  |  | 26,866 |  |  |  | — |  |  |  | — |  |  |  | 26,866 |
Government and government agency bonds |  |  | 855,148 |  |  |  | — |  |  |  | (894 | ) |  |  | 854,254 |
Corporate bonds |  |  | 180,890 |  |  |  | 6 |  |  |  | (115 | ) |  |  | 180,781 |
Certificates of deposit |  |  | 53,130 |  |  |  | — |  |  |  | — |  |  |  | 53,130 |
Total cash, cash equivalents and investments |  | $ | 1,461,477 |  |  | $ | 6 |  |  | $ | (1,009 | ) |  | $ | 1,460,474 |
As reported: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 383,623 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 383,622 |
Short-term investments |  |  | 1,077,854 |  |  |  | 6 |  |  |  | (1,008 | ) |  |  | 1,076,852 |
Total cash, cash equivalents and investments |  | $ | 1,461,477 |  |  | $ | 6 |  |  | $ | (1,009 | ) |  | $ | 1,460,474 |
|  | As of December 31, 2023 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Market Value |
|  | (in thousands) |
Cash and money market funds |  | $ | 374,750 |  |  | $ | — |  |  | $ | — |  |  | $ | 374,750 |
Commercial paper |  |  | 113,362 |  |  |  | — |  |  |  | — |  |  |  | 113,362 |
Government and government agency bonds |  |  | 1,000,302 |  |  |  | 1,006 |  |  |  | (171 | ) |  |  | 1,001,137 |
Corporate bonds |  |  | 130,270 |  |  |  | 118 |  |  |  | (8 | ) |  |  | 130,380 |
Certificates of deposit |  |  | 56,621 |  |  |  | — |  |  |  | — |  |  |  | 56,621 |
Total cash, cash equivalents and investments |  | $ | 1,675,305 |  |  | $ | 1,124 |  |  | $ | (179 | ) |  | $ | 1,676,250 |
As reported: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 428,430 |  |  | $ | — |  |  | $ | — |  |  | $ | 428,430 |
Short-term investments |  |  | 1,246,875 |  |  |  | 1,124 |  |  |  | (179 | ) |  |  | 1,247,820 |
Total cash, cash equivalents and investments |  | $ | 1,675,305 |  |  | $ | 1,124 |  |  | $ | (179 | ) |  | $ | 1,676,250 |

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