INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

Marketable securities consisted of the following as of December 31, 2024 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	126,916	$	142	$	(13)	$	127,045
Commercial paper	18,414		19		—		18,433
Corporate notes and obligations	237,965		339		(67)		238,237
Total marketable securities	$	383,295	$	500	$	(80)	$	383,715

Marketable securities consisted of the following as of December 31, 2023 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	128,479	124		$	(27)	$	128,576
Commercial paper	47,415		1		(35)		47,381
Corporate notes and obligations	139,747		61		(128)		139,680
Time deposits	4,525		—		(1)		4,524
Total marketable securities	$	320,166	$	186	$	(191)	$	320,161

Schedule of Investments Classified by Contractual Maturity Date

The following table summarizes the estimated fair value of investments classified as marketable securities by contractual maturity date (in thousands):

	December 31,
	2024		2023
Due within 1 year	$	337,673	$	320,161
Due in 1 to 2 years	46,042		—
Total marketable securities	$	383,715	$	320,161

Schedule of Strategic Investments Activity

Strategic investment activity during the year ended December 31, 2024 is summarized as follows (in thousands):

	Equity Securities		Limited Partnerships		Available-for-Sale Debt Securities		Total
Balance as of December 31, 2023	$	7,179	$	3,986	$	362	$	11,527
Interest accrued	—		—		6		6
Purchases of strategic investments	498		1,869		—		2,367
Conversion of available-for-sale debt securities into equity securities	368		—		(368)		—
Unrealized gains (losses)	824		(186)		—		638
Impairment losses	(184)		—		—		(184)
Balance as of December 31, 2024	$	8,685	$	5,669	$	—	$	14,354

Strategic investment activity during the year ended December 31, 2023 is summarized as follows (in thousands):

	Equity Securities		Limited Partnerships		Available-for-Sale Debt Securities		Total
Balance as of December 31, 2022	$	7,286	$	3,402	$	355	$	11,043
Interest accrued	—		—		7		7
Purchases of strategic investments	—		764		—		764
Unrealized gains (losses)	68		(180)		—		(112)
Impairment losses	(175)		—		—		(175)
Balance as of December 31, 2023	$	7,179	$	3,986	$	362	$	11,527