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FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The Company's financial instruments consist of cash equivalents, short-term and long-term investments, accounts receivable, accounts payable, and revolving lines of credit.
The valuation techniques used to measure fair value are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company classifies its financial instruments according to the prescribed criteria.
The fair value of money market fund deposits, cash equivalent term deposits, accounts receivable, accounts payable and drawings on revolving lines of credit is reasonably close to their carrying amounts due to the short maturity of most of these instruments or as a result of the competitive market interest rates, which have been negotiated. The fair value of the Company's commercial paper, corporate bonds, U.S. Treasury and agency obligations and term deposits are based on Level 2 inputs.
The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the Condensed Consolidated Balance Sheets:
 Fair Value Measurements at March 31, 2026
TotalLevel 1Level 2Level 3
Assets
Cash equivalents:
Money market fund deposits$90,932 $90,932 $— $— 
Commercial paper137,102 — 137,102 — 
Term deposits57,896 — 57,896 — 
Total cash equivalents285,930 90,932 194,998 — 
Short-term investments:
Corporate bonds204,066 — 204,066 — 
U.S. Treasury and agency obligations62,488 — 62,488 — 
Commercial paper62,407 — 62,407 — 
Term deposits3,161 — 3,161 — 
Total short-term investments332,122 — 332,122 — 
Long-term investments:
Corporate bonds52,195 — 52,195 — 
U.S. Treasury and agency obligations
18,146 — 18,146 — 
Total long-term investments70,341 — 70,341 — 
Total$688,393 $90,932 $597,461 $— 
 Fair Value Measurements at December 31, 2025
TotalLevel 1Level 2Level 3
Assets
Cash equivalents:
Money market fund deposits$173,538 $173,538 $— $— 
Term deposits58,782 — 58,782 — 
Total cash equivalents232,320 173,538 58,782 — 
Short-term investments:
Corporate bonds264,431 — 264,431 — 
Commercial paper101,922 — 101,922 — 
U.S. Treasury and agency obligations66,469 — 66,469 — 
Term deposits3,104 — 3,104 — 
Total short-term investments435,926 — 435,926 — 
Long-term investments:
Corporate bonds52,294 — 52,294 — 
U.S. Treasury and agency obligations24,300 — 24,300 — 
Total long-term investments76,594 — 76,594 — 
Total744,840 173,538 571,302 — 
There were no impairments for the investments considered held-to-maturity during the quarters ended March 31, 2026 and 2025. There were no current expected credit loss allowances for the investments considered held-to-maturity at March 31, 2026 and December 31, 2025. The Company holds highly-rated held-to-maturity instruments that are within five years of maturity.
The Company did not have any allowance for credit losses other than the allowance for uncollectible accounts receivable. As of March 31, 2026 and December 31, 2025, the allowance for credit losses on trade receivables was $2,217 and $2,189, respectively.
The following table presents the effective maturity dates of debt investments, which are held-to-maturity:
March 31, 2026December 31, 2025
Book ValueFair ValueBook ValueFair Value
Investment maturity
Less than 1 year$332,144 $332,122 $435,538 $435,926 
1 - 5 years70,567 70,341 76,533 76,594 
Total
$402,711 $402,463 $512,071 $512,520