v3.26.3
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
 9 Months Ended
Sep. 30, 2026
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
Cash equivalents include items almost as liquid as cash, with maturity periods of three months or less when purchased, and short-term investments include items with maturity dates between three months and one year when purchased. As of September 30, 2026 and December 31, 2025, the Company’s cash and cash equivalents and short-term investments were composed of:
September 30, 2026
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments
Cash$11,227 $— $— $11,227 $11,227 $11,227 $— 
Money market fundsLevel 185,507 — — 85,507 85,507 85,507 — 
Certificate of deposits and term depositsLevel 265,804 — — 65,804 65,804 — 65,804 
HTM securities (1)
U.S. Treasury billsLevel 1$58,880 $— $(125)58,755 58,880 $— $58,880 
Corporate debt securitiesLevel 2$242,061 $5 $(1,048)241,018 242,061 $— $242,061 
$300,941 $5 $(1,173)$299,773 $300,941 $— $300,941 
Total$463,479 $5 $(1,173)$462,311 $463,479 $96,734 $366,745 
December 31, 2025
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments
Cash$7,402 $— $— $7,402 $7,402 $7,402 $— 
Money market fundsLevel 166,213 — — 66,213 66,213 66,213 — 
Certificate of deposits and term depositsLevel 225,186 — — 25,186 25,186 10,013 15,173 
HTM securities (1)
U.S. Treasury billsLevel 1$54,096 $48 $— 54,144 54,096 $— $54,096 
Corporate debt securitiesLevel 2$294,777 $82 $(205)294,654 294,777 $9,920 $284,857 
$348,873 $130 $(205)$348,798 $348,873 $9,920 $338,953 
Total$447,674 $130 $(205)$447,599 $447,674 $93,548 $354,126 
(1)    Changes in fair value of held-to-maturity ("HTM") securities are presented for disclosure purposes as required by ASC 320 "Investments — Debt Securities" and are recorded as finance expenses only if the unrealized loss is identified as a credit loss.
In accordance with ASC 820, "Fair Value Measurements and Disclosures," the Company measures its money market funds at fair value. The fair value of the money market funds and HTM securities, which is presented for disclosure purposes, is classified within Level 1 or Level 2. This is because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.
As of September 30, 2026 and December 31, 2025, all investments mature in one year or less.
Unrealized losses from debt securities are primarily attributable to changes in interest rates. The Company does not believe any remaining unrealized losses represent credit losses based on the evaluation of available evidence.