XML 34 R22.htm IDEA: XBRL DOCUMENT v3.25.2
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
Schedule of cash and cash equivalents As of June 30, 2025 and December 31, 2024, the Company’s cash and cash equivalents and short-term investments were composed of:
June 30, 2025
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$13,475 $— $— $13,475 $13,475 $13,475 $— 
Money market fundsLevel 1134,949 — — 134,949 134,949 134,949 — 
Certificate of deposits and term depositsLevel 272,673 — — 72,673 72,673 1,200 71,473 
HTM securities (1)
U.S. Treasury billsLevel 1$118,664 $4 $(34)118,634 118,664 $— $118,664 
Corporate debt securitiesLevel 2$571,764 $109 $(116)571,757 571,764 $— $571,764 
$690,428 $113 $(150)$690,391 $690,428 $— $690,428 
Total$911,525 $113 $(150)$911,488 $911,525 $149,624 $761,901 

December 31, 2024
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-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 $— $118,618 
Government and governmental agenciesLevel 2$— $— $— — — $— $— 
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 
(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 agreement, $17,614 of short-term investments are pledged. See Note 4.
Schedule of amortized cost and recorded basis of T-bills in short-term Investments As of June 30, 2025 and December 31, 2024, the Company’s cash and cash equivalents and short-term investments were composed of:
June 30, 2025
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$13,475 $— $— $13,475 $13,475 $13,475 $— 
Money market fundsLevel 1134,949 — — 134,949 134,949 134,949 — 
Certificate of deposits and term depositsLevel 272,673 — — 72,673 72,673 1,200 71,473 
HTM securities (1)
U.S. Treasury billsLevel 1$118,664 $4 $(34)118,634 118,664 $— $118,664 
Corporate debt securitiesLevel 2$571,764 $109 $(116)571,757 571,764 $— $571,764 
$690,428 $113 $(150)$690,391 $690,428 $— $690,428 
Total$911,525 $113 $(150)$911,488 $911,525 $149,624 $761,901 

December 31, 2024
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-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 $— $118,618 
Government and governmental agenciesLevel 2$— $— $— — — $— $— 
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 
(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 agreement, $17,614 of short-term investments are pledged. See Note 4.
Schedule of available-for-sale securities reconciliation As of June 30, 2025 and December 31, 2024, the Company’s cash and cash equivalents and short-term investments were composed of:
June 30, 2025
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$13,475 $— $— $13,475 $13,475 $13,475 $— 
Money market fundsLevel 1134,949 — — 134,949 134,949 134,949 — 
Certificate of deposits and term depositsLevel 272,673 — — 72,673 72,673 1,200 71,473 
HTM securities (1)
U.S. Treasury billsLevel 1$118,664 $4 $(34)118,634 118,664 $— $118,664 
Corporate debt securitiesLevel 2$571,764 $109 $(116)571,757 571,764 $— $571,764 
$690,428 $113 $(150)$690,391 $690,428 $— $690,428 
Total$911,525 $113 $(150)$911,488 $911,525 $149,624 $761,901 

December 31, 2024
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-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 $— $118,618 
Government and governmental agenciesLevel 2$— $— $— — — $— $— 
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 
(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 agreement, $17,614 of short-term investments are pledged. See Note 4.