v3.25.2
INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Debt Securities, Short-term Investments
The Company’s investments consisted of the following as of June 30, 2025 and December 31, 2024:
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
June 30, 2025
Money market funds$106,725 $— $— $106,725 
U.S. treasury securities214,503 110 (149)214,464 
U.S. corporate paper and bonds231,460 166 (57)231,569 
Total$552,688 $276 $(206)$552,758 
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
June 30, 2025
Cash equivalents:
Money market funds$106,725 $— $— $106,725 
Short-term investments:
U.S. treasury securities4,945 209,519 — 214,464 
U.S. corporate paper and bonds— 231,569 — 231,569 
Total cash equivalents and short-term investments$111,670 $441,088 $— $552,758 
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