Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 31, 2024

Cash, Cash Equivalents and Investments

Summary of Cash, Cash Equivalents, Marketable Securities, and Available-for-Sale Investments

The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale investments at March 31, 2024 and December 31, 2023 (in thousands):

	As of March 31, 2024
			Gross		Gross				Cash and
	Amortized		Unrealized		Unrealized				Cash		Marketable		Short-Term
	Cost		Gains		Losses		Fair Value		Equivalents		Securities		Investments
Cash	$	110,509		—		—	$	110,509	$	110,509	$	—	$	—
Level 1:
Money market funds		101,721		—		—		101,721		101,721		—		—
Agency bonds		87,635		—		(48)		87,587		81,640		—		5,947
Treasury bills		310,446		1		(441)		310,006		—		—		310,006
U.S. Government		130,793		—		(29)		130,764		—		—		130,764
Marketable securities		90,000		9,720		—		99,720		—		99,720		—
Subtotal		720,595		9,721		(518)		729,798		183,361		99,720		446,717
Level 2:
Term deposits		211,729		—		—		211,729		110,000		—		101,729
Corporate bonds		11,752		7		(19)		11,740		—		—		11,740
Subtotal		223,481		7		(19)		223,469		110,000		—		113,469
Total	$	1,054,585	$	9,728	$	(537)	$	1,063,776	$	403,870	$	99,720	$	560,186

	As of December 31, 2023
			Gross		Gross				Cash and
	Amortized		Unrealized		Unrealized				Cash		Marketable		Short-Term
	Cost		Gains		Losses		Fair Value		Equivalents		Securities		Investments
Cash	$	406,743	$	—	$	—	$	406,743	$	406,743	$	—	$	—
Level 1:
Money market funds		1,470		—		—		1,470		1,470		—		—
Agency bonds		222,057		2		(174)		221,885		101,635		—		120,250
U.S. Government		238,747		120		(237)		238,630		—		—		238,630
Treasury bills		148,063		28		—		148,091		88,697		—		59,394
Marketable securities		90,000		—		(12,060)		77,940		—		77,940		—
Subtotal		700,337		150		(12,471)		688,016		191,802		77,940		418,274
Level 2:
Term deposits		128,205		—		—		128,205		—		—		128,205
Corporate bonds		80,646		8		(165)		80,489		—		—		80,489
Treasury Inflation-Protected Securities		2,635		—		(5)		2,630		—		—		2,630
Commercial paper		14,456		—		—		14,456		—		—		14,456
Subtotal		225,942		8		(170)		225,780		—		—		225,780
Total	$	1,333,022	$	158	$	(12,641)	$	1,320,539	$	598,545	$	77,940	$	644,054