XML 48 R29.htm IDEA: XBRL DOCUMENT
v3.25.0.1

FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of cash equivalents, restricted cash and marketable securities by security type | Cash equivalents, restricted cash and marketable securities by security type at December 31, 2024 were as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 45,215 |  |  | $ | — |  |  | $ | — |  |  | $ | 45,215 |
Commercial paper |  |  | 4,978 |  |  |  | — |  |  |  | (1 | ) |  |  | 4,977 |
|  | $ | 50,193 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 50,192 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 1,587 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,587 |
Certificate of deposit |  |  | 273 |  |  |  | — |  |  |  | — |  |  |  | 273 |
|  | $ | 1,860 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,860 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 7,937 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 7,959 |
U.S. Treasury securities (due in one to two years) |  |  | 22,620 |  |  |  | 1 |  |  |  | (11 | ) |  |  | 22,610 |
Government-sponsored enterprise securities (due in less than one year) |  |  | 8,741 |  |  |  | 7 |  |  |  | — |  |  |  | 8,748 |
Commercial paper (due in less than one year) |  |  | 180,131 |  |  |  | 150 |  |  |  | (56 | ) |  |  | 180,225 |
Corporate notes (due in less than one year) |  |  | 130,361 |  |  |  | 284 |  |  |  | (27 | ) |  |  | 130,618 |
Corporate notes (due in one to two years) |  |  | 72,000 |  |  |  | 6 |  |  |  | (97 | ) |  |  | 71,909 |
|  | $ | 421,790 |  |  | $ | 470 |  |  | $ | (191 | ) |  | $ | 422,069 |
Cash equivalents, restricted cash and marketable securities by security type at December 31, 2023 were as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 16,815 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,815 |
|  | $ | 16,815 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,815 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 843 |  |  | $ | — |  |  | $ | — |  |  | $ | 843 |
Certificate of deposit |  |  | 272 |  |  |  | — |  |  |  | — |  |  |  | 272 |
|  | $ | 1,115 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,115 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 26,752 |  |  | $ | 95 |  |  | $ | — |  |  | $ | 26,847 |
U.S. Treasury securities (due in one to two years) |  |  | 2,877 |  |  |  | 17 |  |  |  | — |  |  |  | 2,894 |
Government-sponsored enterprise securities (due in less than one year) |  |  | 86,250 |  |  |  | 43 |  |  |  | (92 | ) |  |  | 86,201 |
Government-sponsored enterprise securities (due in one to two years) |  |  | 13,598 |  |  |  | 72 |  |  |  | — |  |  |  | 13,670 |
Commercial paper (due in less than one year) |  |  | 102,270 |  |  |  | 31 |  |  |  | (33 | ) |  |  | 102,268 |
Corporate notes (due in less than one year) |  |  | 48,409 |  |  |  | 14 |  |  |  | (63 | ) |  |  | 48,360 |
Corporate notes (due in one to two years) |  |  | 26,628 |  |  |  | 130 |  |  |  | (24 | ) |  |  | 26,734 |
|  | $ | 306,784 |  |  | $ | 402 |  |  | $ | (212 | ) |  | $ | 306,974 |
Schedule of cash equivalents and marketable securities with unrealized losses | Cash equivalents and marketable securities with unrealized losses that have been in a continuous unrealized loss position for less than 12 months and 12 months or longer at December 31, 2024 and 2023 were as follows:
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |
|  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |
(In thousands) |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |
As of December 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 18,593 |  |  | $ | (10 | ) |  | $ | — |  |  | $ | — |  |  | $ | 18,593 |  |  | $ | (10 | )
Commercial paper (due in less than one year) |  |  | 66,076 |  |  |  | (56 | ) |  |  | — |  |  |  | — |  |  |  | 66,076 |  |  |  | (56 | )
Corporate notes (due in less than one year) |  |  | 31,549 |  |  |  | (26 | ) |  |  | 1,993 |  |  |  | (1 | ) |  |  | 33,542 |  |  |  | (27 | )
Corporate notes (due in one to two years) |  |  | 53,506 |  |  |  | (98 | ) |  |  | — |  |  |  | — |  |  |  | 53,506 |  |  |  | (98 | )
|  | $ | 169,724 |  |  | $ | (190 | ) |  | $ | 1,993 |  |  | $ | (1 | ) |  | $ | 171,717 |  |  | $ | (191 | )
As of December 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than one year) |  | $ | 69,377 |  |  | $ | (92 | ) |  | $ | — |  |  | $ | — |  |  | $ | 69,377 |  |  | $ | (92 | )
Commercial paper (due in less than one year) |  |  | 58,622 |  |  |  | (33 | ) |  |  | — |  |  |  | — |  |  |  | 58,622 |  |  |  | (33 | )
Corporate notes (due in less than one year) |  |  | 34,567 |  |  |  | (63 | ) |  |  | — |  |  |  | — |  |  |  | 34,567 |  |  |  | (63 | )
Corporate notes (due in one to two years) |  |  | 3,952 |  |  |  | (23 | ) |  |  | — |  |  |  | — |  |  |  | 3,952 |  |  |  | (23 | )
|  | $ | 166,518 |  |  | $ | (211 | ) |  | $ | — |  |  | $ | — |  |  | $ | 166,518 |  |  | $ | (211 | )
Schedule of financial instruments measured at fair value on recurring basis | The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of December 31, 2024 and 2023 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
As of December 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1)(2) |  | $ | 46,802 |  |  | $ | — |  |  | $ | — |  |  | $ | 46,802 |
Certificate of deposit(2) |  |  | 273 |  |  |  | — |  |  |  | — |  |  |  | 273 |
U.S. Treasury securities(3)(4) |  |  | — |  |  |  | 30,570 |  |  |  | — |  |  |  | 30,570 |
Government-sponsored enterprise securities(3) |  |  | — |  |  |  | 8,748 |  |  |  | — |  |  |  | 8,748 |
Commercial paper(3) |  |  | — |  |  |  | 185,201 |  |  |  | — |  |  |  | 185,201 |
Corporate notes(3)(4) |  |  | — |  |  |  | 202,527 |  |  |  | — |  |  |  | 202,527 |
Total |  | $ | 47,075 |  |  | $ | 427,046 |  |  | $ | — |  |  | $ | 474,121 |
As of December 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1)(2) |  | $ | 17,658 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,658 |
Certificate of deposit(2) |  |  | 272 |  |  |  | — |  |  |  | — |  |  |  | 272 |
U.S. Treasury securities(3)(4) |  |  | — |  |  |  | 29,742 |  |  |  | — |  |  |  | 29,742 |
Government-sponsored enterprise securities(3)(4) |  |  | — |  |  |  | 99,872 |  |  |  | — |  |  |  | 99,872 |
Commercial paper(3) |  |  | — |  |  |  | 102,268 |  |  |  | — |  |  |  | 102,268 |
Corporate notes(3)(4) |  |  | — |  |  |  | 75,092 |  |  |  | — |  |  |  | 75,092 |
Total |  | $ | 17,930 |  |  | $ | 306,974 |  |  | $ | — |  |  | $ | 324,904 |
(1) Included in cash and cash equivalents on our consolidated balance sheets. (2) Included in restricted cash on our consolidated balance sheets. (3) Included in current portion of marketable securities on our consolidated balance sheets. (4) Included in noncurrent portion of marketable securities on our consolidated balance sheets. Credit Risk

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
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

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration