v3.26.3
CASH, CASH EQUIVALENTS AND INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The following table presents the Company’s cash, cash equivalents and short-term investments:
September 30, 2026December 31, 2025
(in thousands)Amortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair ValueAmortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair Value
Cash:
Demand deposits$37,481 $— $— $37,481 $16,536 $— $— $16,536 
Cash equivalents:
Money market funds154,303 — — 154,303 748,322 — — 748,322 
U.S. Treasury securities58,279 — (3)58,276 334,339 59 — 334,398 
Commercial paper
9,636 — — 9,636 48,762 7 — 48,769 
Certificates of deposit
640 — — 640 17,985 1 — 17,986 
Total cash equivalents222,858 — (3)222,855 1,149,408 67 — 1,149,475 
Total cash and equivalents260,339 — (3)260,336 1,165,944 67 — 1,166,011 
Short-term investments:
U.S. Treasury securities1,065,498 1 (1,049)1,064,450 636,214 367 — 636,581 
Commercial paper
13,126 — (1)13,125 21,767 4 — 21,771 
Certificates of deposit
— — — — 5,923 — — 5,923 
Total short-term investments1,078,624 1 (1,050)1,077,575 663,904 371 — 664,275 
Total cash, cash equivalents and short-term investments$1,338,963 $1 $(1,053)$1,337,911 $1,829,848 $438 $— $1,830,286 
Schedule of Cash and Cash Equivalents
The following table presents the Company’s cash, cash equivalents and short-term investments:
September 30, 2026December 31, 2025
(in thousands)Amortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair ValueAmortized Cost BasisUnrealized GainsUnrealized LossesEstimated Fair Value
Cash:
Demand deposits$37,481 $— $— $37,481 $16,536 $— $— $16,536 
Cash equivalents:
Money market funds154,303 — — 154,303 748,322 — — 748,322 
U.S. Treasury securities58,279 — (3)58,276 334,339 59 — 334,398 
Commercial paper
9,636 — — 9,636 48,762 7 — 48,769 
Certificates of deposit
640 — — 640 17,985 1 — 17,986 
Total cash equivalents222,858 — (3)222,855 1,149,408 67 — 1,149,475 
Total cash and equivalents260,339 — (3)260,336 1,165,944 67 — 1,166,011 
Short-term investments:
U.S. Treasury securities1,065,498 1 (1,049)1,064,450 636,214 367 — 636,581 
Commercial paper
13,126 — (1)13,125 21,767 4 — 21,771 
Certificates of deposit
— — — — 5,923 — — 5,923 
Total short-term investments1,078,624 1 (1,050)1,077,575 663,904 371 — 664,275 
Total cash, cash equivalents and short-term investments$1,338,963 $1 $(1,053)$1,337,911 $1,829,848 $438 $— $1,830,286 
Interest and Other Income
The Company’s interest and investment income, which is included in “Other income, net” within the Company’s unaudited Condensed Consolidated Statements of Operations, was as follows:
For the three months ended September 30,For the nine months ended September 30,
(in thousands)2026202520262025
Interest and investment income(1)
$13,116 $16,514 $42,434 $33,225 
(1)Includes interest and investment income on the Company’s available-for-sale securities and other money market funds and excludes interest on certain interest-bearing bank accounts.