v3.25.2
CASH EQUIVALENTS AND RESTRICTED CASH
 6 Months Ended
Jun. 30, 2025
Cash and Cash Equivalents [Abstract]  
CASH EQUIVALENTS AND RESTRICTED CASH CASH EQUIVALENTS AND RESTRICTED CASH
A reconciliation of Cash and cash equivalents and Restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows is as follows (in thousands):
June 30, 2025December 31, 2024
Cash and cash equivalents$107,000 $216,426 
Restricted cash34,242 30,042 
Total$141,242 $246,468 
Cash and Cash Equivalents
Cash and cash equivalents consisted of the following (in thousands):
June 30, 2025December 31, 2024
Cash$86,005 $135,614 
Money market funds20,995 80,812 
Cash and cash equivalents$107,000 $216,426 
Restricted Cash
As of June 30, 2025 and December 31, 2024, Restricted cash primarily consisted of (i) $22.4 million and $18.8 million, respectively, related to funds held but unavailable for immediate use due to contractual restrictions, (ii) $6.6 million and $6.2 million, respectively, held by financial institutions to establish standby letters of credit required by the lessors of certain corporate office space that we leased as of such dates, and (iii) $5.0 million as of
each such date held by financial institutions to collateralize our credit card programs. The standby letters of credit expire on May 31, 2031, December 31, 2033 and June 30, 2034.