v3.25.1
INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Debt Securities, Short-term Investments
The Company’s investments consisted of the following as of March 31, 2025 and December 31, 2024:
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
March 31, 2025
Money market funds$105,051 $— $— $105,051 
U.S. treasury securities231,546 210 (176)231,580 
U.S. corporate paper and bonds291,249 313 (102)291,460 
International corporate bond holdings— — — — 
Total$627,846 $523 $(278)$628,091 
December 31, 2024
Money market funds$96,058 $— $— $96,058 
U.S. treasury securities286,039 196 (320)285,915 
U.S. corporate paper and bonds326,966 361 (247)327,080 
International corporate bond holdings4,995 — — 4,995 
Total$714,058 $557 $(567)$714,048 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis:
(in thousands)Quoted Prices in Active Markets
(Level 1)		Significant Other Observable Inputs
 (Level 2)		Significant Unobservable Inputs
(Level 3)		Total
March 31, 2025
Cash equivalents:
Money market funds$105,051 $— $— $105,051 
U.S. corporate paper and bonds— 2,622 — 2,622 
Short-term investments:
U.S. treasury securities19,888 211,692 — 231,580 
U.S. corporate paper and bonds— 288,838 — 288,838 
International corporate bond holdings— — — — 
Total cash equivalents and short-term investments$124,939 $503,152 $— $628,091 
December 31, 2024
Cash equivalents:
Money market funds$96,058 $— $— $96,058 
Short-term investments:
U.S. treasury securities21,692 264,223 — 285,915 
U.S. corporate paper and bonds— 327,080 — 327,080 
International corporate bond holdings— 4,995 — 4,995 
Total cash equivalents and short-term investments$117,750 $596,298 $— $714,048