FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

Financial assets measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows (in thousands):

	December 31, 2025
	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	403,979	$	—	$	403,979
Marketable securities:
U.S. treasury securities	132,036		—		132,036
Commercial paper	—		14,310		14,310
Corporate notes and obligations	—		183,985		183,985
Total	$	536,015	$	198,295	$	734,310

	December 31, 2024
	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	384,648	$	—	$	384,648
Corporate notes and obligations	—		524		524
Marketable securities:
U.S. treasury securities	127,045		—		127,045
Commercial paper	—		18,433		18,433
Corporate notes and obligations	—		238,237		238,237
Total	$	511,693	$	257,194	$	768,887