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CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Cash, Cash Equivalents, and Short-Term Investments [Abstract] |
Schedule of cash and cash equivalents | As of March 31, 2024 and December 31, 2023, the Company’s cash and cash equivalents and short-term investments were composed of:
| March 31, 2024
| Unaudited
| Fair value level |  | Adjusted cost basis |  | Unrealized gains |  | Unrealized losses |  | Fair market value |  | Recorded basis |  | Cash and cash equivalents |  | Short-term investments (2)
Cash |  |  | $ | 17,626 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,626 |  |  | $ | 17,626 |  |  | $ | 17,626 |  |  | $ | — |
Money market funds | Level 1 |  | 303,191 |  |  | — |  |  | — |  |  | 303,191 |  |  | 303,191 |  |  | 303,191 |  |  | — |
Certificate of deposits and term deposits | Level 2 |  | 116,052 |  |  | — |  |  | — |  |  | 116,052 |  |  | 116,052 |  |  | 23,204 |  |  | 92,848 |
HTM securities (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills | Level 1 |  | $ | 139,373 |  |  | $ | 72 |  |  | $ | — |  |  | 139,445 |  |  | 139,373 |  |  | $ | 109,742 |  |  | $ | 29,631 |
Corporate debt securities | Level 2 |  | $ | 293,905 |  |  | $ | 297 |  |  | $ | (5) |  |  | 294,197 |  |  | 293,905 |  |  | $ | — |  |  | $ | 293,905 |
|  |  | $ | 433,278 |  |  | $ | 369 |  |  | $ | (5) |  |  | $ | 433,642 |  |  | $ | 433,278 |  |  | $ | 109,742 |  |  | $ | 323,536 |
Total |  |  | $ | 870,147 |  |  | $ | 369 |  |  | $ | (5) |  |  | $ | 870,511 |  |  | $ | 870,147 |  |  | $ | 453,763 |  |  | $ | 416,384 |
| December 31, 2023
| Audited
| Fair value level |  | Adjusted cost basis |  | Unrealized gains |  | Unrealized losses |  | Fair market value |  | Recorded basis |  | Cash and cash equivalents |  | Short-term investments (2)
Cash |  |  | $ | 9,955 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,955 |  |  | $ | 9,955 |  |  | $ | 9,955 |  |  | $ | — |
Money market funds | Level 1 |  | 227,166 |  |  | — |  |  | — |  |  | 227,166 |  |  | 227,166 |  |  | 227,166 |  |  | — |
Certificate of deposits and term deposits | Level 2 |  | 153,169 |  |  | — |  |  | — |  |  | 153,169 |  |  | 153,169 |  |  | 3,700 |  |  | 149,469 |
HTM securities (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills | Level 1 |  | $ | 78,844 |  |  | $ | 55 |  |  | $ | (110) |  |  | 78,789 |  |  | 78,844 |  |  | $ | — |  |  | $ | 78,844 |
Government and governmental agencies | Level 2 |  | $ | 24,940 |  |  | $ | 13 |  |  | $ | — |  |  | 24,953 |  |  | 24,940 |  |  | $ | — |  |  | $ | 24,940 |
Corporate debt securities | Level 2 |  | $ | 416,542 |  |  | $ | 486 |  |  | $ | (149) |  |  | 416,879 |  |  | 416,542 |  |  | $ | — |  |  | $ | 416,542 |
|  |  | $ | 520,326 |  |  | $ | 554 |  |  | $ | (259) |  |  | $ | 520,621 |  |  | $ | 520,326 |  |  | $ | — |  |  | $ | 520,326 |
Total |  |  | $ | 910,616 |  |  | $ | 554 |  |  | $ | (259) |  |  | $ | 910,911 |  |  | $ | 910,616 |  |  | $ | 240,821 |  |  | $ | 669,795 |
(1) Changes in fair value of held-to-maturity ("HTM") securities are presented for disclosure purposes as required by ASC 320 "Investments — Debt Securities" and are recorded as finance expenses only if the unrealized loss is identified as a credit loss. (2) Pursuant to a bank guaranty agreement, $16,189 of short-term investments are pledged. See Note 4.
Schedule of amortized cost and recorded basis of T-bills in short-term Investments | As of March 31, 2024 and December 31, 2023, the Company’s cash and cash equivalents and short-term investments were composed of:
| March 31, 2024
| Unaudited
| Fair value level |  | Adjusted cost basis |  | Unrealized gains |  | Unrealized losses |  | Fair market value |  | Recorded basis |  | Cash and cash equivalents |  | Short-term investments (2)
Cash |  |  | $ | 17,626 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,626 |  |  | $ | 17,626 |  |  | $ | 17,626 |  |  | $ | — |
Money market funds | Level 1 |  | 303,191 |  |  | — |  |  | — |  |  | 303,191 |  |  | 303,191 |  |  | 303,191 |  |  | — |
Certificate of deposits and term deposits | Level 2 |  | 116,052 |  |  | — |  |  | — |  |  | 116,052 |  |  | 116,052 |  |  | 23,204 |  |  | 92,848 |
HTM securities (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills | Level 1 |  | $ | 139,373 |  |  | $ | 72 |  |  | $ | — |  |  | 139,445 |  |  | 139,373 |  |  | $ | 109,742 |  |  | $ | 29,631 |
Corporate debt securities | Level 2 |  | $ | 293,905 |  |  | $ | 297 |  |  | $ | (5) |  |  | 294,197 |  |  | 293,905 |  |  | $ | — |  |  | $ | 293,905 |
|  |  | $ | 433,278 |  |  | $ | 369 |  |  | $ | (5) |  |  | $ | 433,642 |  |  | $ | 433,278 |  |  | $ | 109,742 |  |  | $ | 323,536 |
Total |  |  | $ | 870,147 |  |  | $ | 369 |  |  | $ | (5) |  |  | $ | 870,511 |  |  | $ | 870,147 |  |  | $ | 453,763 |  |  | $ | 416,384 |
| December 31, 2023
| Audited
| Fair value level |  | Adjusted cost basis |  | Unrealized gains |  | Unrealized losses |  | Fair market value |  | Recorded basis |  | Cash and cash equivalents |  | Short-term investments (2)
Cash |  |  | $ | 9,955 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,955 |  |  | $ | 9,955 |  |  | $ | 9,955 |  |  | $ | — |
Money market funds | Level 1 |  | 227,166 |  |  | — |  |  | — |  |  | 227,166 |  |  | 227,166 |  |  | 227,166 |  |  | — |
Certificate of deposits and term deposits | Level 2 |  | 153,169 |  |  | — |  |  | — |  |  | 153,169 |  |  | 153,169 |  |  | 3,700 |  |  | 149,469 |
HTM securities (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills | Level 1 |  | $ | 78,844 |  |  | $ | 55 |  |  | $ | (110) |  |  | 78,789 |  |  | 78,844 |  |  | $ | — |  |  | $ | 78,844 |
Government and governmental agencies | Level 2 |  | $ | 24,940 |  |  | $ | 13 |  |  | $ | — |  |  | 24,953 |  |  | 24,940 |  |  | $ | — |  |  | $ | 24,940 |
Corporate debt securities | Level 2 |  | $ | 416,542 |  |  | $ | 486 |  |  | $ | (149) |  |  | 416,879 |  |  | 416,542 |  |  | $ | — |  |  | $ | 416,542 |
|  |  | $ | 520,326 |  |  | $ | 554 |  |  | $ | (259) |  |  | $ | 520,621 |  |  | $ | 520,326 |  |  | $ | — |  |  | $ | 520,326 |
Total |  |  | $ | 910,616 |  |  | $ | 554 |  |  | $ | (259) |  |  | $ | 910,911 |  |  | $ | 910,616 |  |  | $ | 240,821 |  |  | $ | 669,795 |
(1) Changes in fair value of held-to-maturity ("HTM") securities are presented for disclosure purposes as required by ASC 320 "Investments — Debt Securities" and are recorded as finance expenses only if the unrealized loss is identified as a credit loss. (2) Pursuant to a bank guaranty agreement, $16,189 of short-term investments are pledged. See Note 4.
Schedule of available-for-sale securities reconciliation | As of March 31, 2024 and December 31, 2023, the Company’s cash and cash equivalents and short-term investments were composed of:
| March 31, 2024
| Unaudited
| Fair value level |  | Adjusted cost basis |  | Unrealized gains |  | Unrealized losses |  | Fair market value |  | Recorded basis |  | Cash and cash equivalents |  | Short-term investments (2)
Cash |  |  | $ | 17,626 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,626 |  |  | $ | 17,626 |  |  | $ | 17,626 |  |  | $ | — |
Money market funds | Level 1 |  | 303,191 |  |  | — |  |  | — |  |  | 303,191 |  |  | 303,191 |  |  | 303,191 |  |  | — |
Certificate of deposits and term deposits | Level 2 |  | 116,052 |  |  | — |  |  | — |  |  | 116,052 |  |  | 116,052 |  |  | 23,204 |  |  | 92,848 |
HTM securities (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills | Level 1 |  | $ | 139,373 |  |  | $ | 72 |  |  | $ | — |  |  | 139,445 |  |  | 139,373 |  |  | $ | 109,742 |  |  | $ | 29,631 |
Corporate debt securities | Level 2 |  | $ | 293,905 |  |  | $ | 297 |  |  | $ | (5) |  |  | 294,197 |  |  | 293,905 |  |  | $ | — |  |  | $ | 293,905 |
|  |  | $ | 433,278 |  |  | $ | 369 |  |  | $ | (5) |  |  | $ | 433,642 |  |  | $ | 433,278 |  |  | $ | 109,742 |  |  | $ | 323,536 |
Total |  |  | $ | 870,147 |  |  | $ | 369 |  |  | $ | (5) |  |  | $ | 870,511 |  |  | $ | 870,147 |  |  | $ | 453,763 |  |  | $ | 416,384 |
| December 31, 2023
| Audited
| Fair value level |  | Adjusted cost basis |  | Unrealized gains |  | Unrealized losses |  | Fair market value |  | Recorded basis |  | Cash and cash equivalents |  | Short-term investments (2)
Cash |  |  | $ | 9,955 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,955 |  |  | $ | 9,955 |  |  | $ | 9,955 |  |  | $ | — |
Money market funds | Level 1 |  | 227,166 |  |  | — |  |  | — |  |  | 227,166 |  |  | 227,166 |  |  | 227,166 |  |  | — |
Certificate of deposits and term deposits | Level 2 |  | 153,169 |  |  | — |  |  | — |  |  | 153,169 |  |  | 153,169 |  |  | 3,700 |  |  | 149,469 |
HTM securities (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury bills | Level 1 |  | $ | 78,844 |  |  | $ | 55 |  |  | $ | (110) |  |  | 78,789 |  |  | 78,844 |  |  | $ | — |  |  | $ | 78,844 |
Government and governmental agencies | Level 2 |  | $ | 24,940 |  |  | $ | 13 |  |  | $ | — |  |  | 24,953 |  |  | 24,940 |  |  | $ | — |  |  | $ | 24,940 |
Corporate debt securities | Level 2 |  | $ | 416,542 |  |  | $ | 486 |  |  | $ | (149) |  |  | 416,879 |  |  | 416,542 |  |  | $ | — |  |  | $ | 416,542 |
|  |  | $ | 520,326 |  |  | $ | 554 |  |  | $ | (259) |  |  | $ | 520,621 |  |  | $ | 520,326 |  |  | $ | — |  |  | $ | 520,326 |
Total |  |  | $ | 910,616 |  |  | $ | 554 |  |  | $ | (259) |  |  | $ | 910,911 |  |  | $ | 910,616 |  |  | $ | 240,821 |  |  | $ | 669,795 |
(1) Changes in fair value of held-to-maturity ("HTM") securities are presented for disclosure purposes as required by ASC 320 "Investments — Debt Securities" and are recorded as finance expenses only if the unrealized loss is identified as a credit loss. (2) Pursuant to a bank guaranty agreement, $16,189 of short-term investments are pledged. See Note 4.

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