v3.26.3
FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2026 (in thousands):

 

 

 

 

 

 

Fair Value Measurements, Using

 

 

 

Total Carrying Value
as of September 30,
2026

 

 

Quoted Prices in
Active Markets
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant Unobservable
Inputs
(Level 3)

 

Long-term U.S. Government bonds

 

$

394,606

 

 

$

394,606

 

 

$

—

 

 

$

—

 

Short-term U.S. Government bonds

 

 

334,277

 

 

 

334,277

 

 

 

—

 

 

 

—

 

Cash equivalents

 

 

1,061

 

 

 

1,061

 

 

 

—

 

 

 

—

 

Short-term marketable equity securities

 

 

1,270

 

 

 

1,270

 

 

 

—

 

 

 

—

 

Convertible notes

 

 

2,000

 

 

 

—

 

 

 

—

 

 

 

2,000

 

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2025 (in thousands):

 

 

 

 

 

 

Fair Value Measurements, Using

 

 

 

Total Carrying Value
as of December 31,
2025

 

 

Quoted Prices in
Active Markets
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant Unobservable
Inputs
(Level 3)

 

Long-term U.S. Government bonds

 

$

352,987

 

 

$

352,987

 

 

$

—

 

 

$

—

 

Short-term U.S. Government bonds

 

 

455,398

 

 

 

455,398

 

 

 

—

 

 

 

—

 

Cash equivalents

 

 

27,461

 

 

 

27,461

 

 

 

—

 

 

 

—

 

Short-term marketable equity securities

 

 

8,606

 

 

 

8,606

 

 

 

—

 

 

 

—

 

Convertible notes

 

 

2,000

 

 

 

—

 

 

 

—

 

 

 

2,000