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Cash and Cash equivalents and Short-term investments
 12 Months Ended
Dec. 31, 2024
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
Cash and Cash equivalents and Short-term investments Cash and Cash equivalents and Short-term investments
Cash equivalents include items almost as liquid as cash with maturity periods of three months or less when purchased, and short-term investments include items with maturity dates between three months and one year when purchased. As of December 31, 2024 and 2023, the Company’s cash and cash equivalents and short-term investments were composed of:

December 31, 2024
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalents
Short-term investments (2)
Cash$11,848 $— $— $11,848 $11,848 $11,848 $— 
Money market fundsLevel 1151,919 — — 151,919 151,919 151,919 — 
Certificate of deposits and term depositsLevel 2170,120 — — 170,120 170,120 — 170,120 
HTM securities (1)
U.S. Treasury billsLevel 1$118,618 $93 $(1)$118,710 $118,618 $— $118,618 
Corporate debt securitiesLevel 2$507,368 $920 $(119)$508,169 $507,368 $— $507,368 
$625,986 $1,013 $(120)$626,879 $625,986 $— $625,986 
Total$959,873 $1,013 $(120)$960,766 $959,873 $163,767 $796,106 
December 31, 2023
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments
Cash$9,955 $— $— $9,955 $9,955 $9,955 $— 
Money market fundsLevel 1227,166 — — 227,166 227,166 227,166 — 
Certificate of deposits, notes and term depositsLevel 2153,169 — — 153,169 153,169 3,700 149,469 
HTM securities (1)
U.S. Treasury billsLevel 178,844 55 (110)78,789 78,844 — 78,844 
Government and governmental agenciesLevel 224,940 13 — 24,953 24,940 24,940 
Corporate debt securitiesLevel 2416,542 486 (149)416,879 416,542 — 416,542 
Total$520,326 $554 $(259)$520,621 $520,326 $— $520,326 
$910,616 $554 $(259)$910,911 $910,616 $240,821 $669,795 
(1)    Changes in fair value of held-to-maturity ("HTM") securities are presented for disclosure purposes as required by ASC 320 "Investments — Debt Securities" and are recorded as finance expenses only if the unrealized loss is identified as a credit loss.
(2)    Pursuant to a bank guaranty, $15,581 of short-term investments are pledged. See Note 12.
In accordance with ASC No. 820, the Company measures its money market funds at fair value. The fair value of the money market funds and HTM securities, which is presented for disclosure purposes, is classified within Level 1 or Level 2. This is because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.
As of December 31, 2024 and 2023, all investments and equivalents mature in one year or less.
Unrealized losses from debt securities are primarily attributable to changes in interest rates. The Company does not believe any remaining unrealized losses represent impairments based on the evaluation of available evidence.