Cash, Cash Equivalents and Investments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024 and December 31, 2023 (in thousands):

	As of June 30, 2024
			Gross		Gross				Cash and
	Amortized		Unrealized		Unrealized				Cash		Marketable		Short-Term
	Cost		Gains		Losses		Fair Value		Equivalents		Securities		Investments
Cash	$	78,251	$	—	$	—	$	78,251	$	78,251	$	—	$	—
Level 1:
Money market funds		254,304		—		—		254,304		254,304		—		—
Agency bonds		100,011		—		(44)		99,967		99,967		—		—
Treasury bills		116,330		2		(27)		116,305		66,511		—		49,794
U.S. Government		200,567		—		(342)		200,225		—		—		200,225
Marketable securities		90,000		17,550		—		107,550		—		107,550		—
Subtotal		761,212		17,552		(413)		778,351		420,782		107,550		250,019
Level 2:
Term deposits		218,870		—		—		218,870		67,419		—		151,451
Corporate bonds		1,000		—		—		1,000		—		—		1,000
Subtotal		219,870		—		—		219,870		67,419		—		152,451
Total	$	1,059,333	$	17,552	$	(413)	$	1,076,472	$	566,452	$	107,550	$	402,470

	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