FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured and Carried at Fair Value

The tables below present information about the Company’s financial assets and liabilities that are measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques it utilizes to determine such fair value:

	Fair Value Measurement as of June 30, 2024
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	100,859	$	100,859	$	—	$	—
Commercial paper		26,866		—		26,866		—
Government and government agency bonds		854,254		—		854,254		—
Corporate bonds		180,781		—		180,781		—
Strategic investments		7,606		6,606		—		1,000
Certificates of deposit		53,130		—		53,130		—
Total assets	$	1,223,496	$	107,465	$	1,115,031	$	1,000
Liabilities
Contingent consideration	$	48,200	$	—	$	—	$	48,200
Total liabilities	$	48,200	$	—	$	—	$	48,200

	Fair Value Measurement as of December 31, 2023
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	63,919	$	63,919	$	—	$	—
Commercial paper		113,362		—		113,362		—
Government and government agency bonds		1,001,137		—		1,001,137		—
Corporate bonds		130,380		—		130,380		—
Strategic investments		6,527		5,527		—		1,000
Certificates of deposit		56,621		—		56,621		—
Total assets	$	1,371,946	$	69,446	$	1,301,500	$	1,000
Liabilities
Contingent consideration	$	38,100	$	—	$	—	$	38,100
Total liabilities	$	38,100	$	—	$	—	$	38,100

Summary of Fair Value of Level 3 Financial Liabilities

The following table represents a roll-forward of the fair value of Level 3 financial liabilities for the periods indicated:

	As of June 30, 2024		As of June 30, 2023
	(in thousands)
Fair value, as of beginning of period	$	38,100	$	36,900
Change in estimated fair value		10,100		—
Liabilities terminated		—		(800	)
Fair value, as of end of period	$	48,200	$	36,100