XML 162 R10.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | 3 Months Ended
--- | ---
Mar. 31, 2024
Cash, Cash Equivalents, and Short-Term Investments [Abstract] |
Cash, cash equivalents and short-term investments | CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Cash equivalents include items almost as liquid as cash, with maturity periods of three months or less when purchased, and short-term investments include items with maturity dates between three months and one year when purchased. 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. In accordance with ASC 820, "Fair Value Measurements and Disclosures," the Company measures its money market funds at fair value. The fair value of the money market funds and HTM securities, which is presented for disclosure purposes, is classified within Level 1 or Level 2. This is because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. As of March 31, 2024 and December 31, 2023, all investments mature in one year or less. Unrealized losses from debt securities are primarily attributable to changes in interest rates. The Company does not believe any remaining unrealized losses represent impairments based on the evaluation of available evidence.

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

X
- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent + Details
Name: | us-gaap_CashCashEquivalentsAndShortTermInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration