| Summary of Cash, Cash Equivalents, Short-Term and Long-Term Investments by Significant Investment Category |
The following tables show the Company’s cash, cash equivalents, short-term and long-term investments by significant investment category:
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As of March 31, 2025 |
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(in thousands) |
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Adjusted Cost |
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Fair Value |
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Cash and Cash Equivalents |
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Short-Term Investments |
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Long-Term Investments |
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Cash |
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$ |
967,807 |
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$ |
967,807 |
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$ |
967,807 |
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$ |
— |
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$ |
— |
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Level 1 |
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Money market funds |
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12,797 |
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12,797 |
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12,797 |
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— |
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— |
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U.S. Treasury securities |
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27,028 |
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27,028 |
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6,487 |
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13,580 |
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6,961 |
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Mutual funds |
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N/A |
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3,091 |
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— |
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— |
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3,091 |
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Total level 1 |
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39,825 |
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42,916 |
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19,284 |
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13,580 |
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10,052 |
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Level 2 |
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Corporate notes and bonds |
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122,335 |
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122,335 |
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6,000 |
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82,930 |
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33,405 |
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Asset-backed securities |
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23,331 |
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23,331 |
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— |
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1,561 |
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21,770 |
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U.S. Agency securities |
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10,714 |
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10,714 |
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— |
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9,543 |
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1,171 |
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Total level 2 |
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156,380 |
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156,380 |
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6,000 |
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94,034 |
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56,346 |
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Total |
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$ |
1,164,012 |
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$ |
1,167,103 |
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$ |
993,091 |
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$ |
107,614 |
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$ |
66,398 |
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As of December 31, 2024 |
|
(in thousands) |
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Adjusted Cost |
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Fair Value |
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Cash and Cash Equivalents |
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Short-Term Investments |
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Long-Term Investments |
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Cash |
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$ |
1,094,228 |
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$ |
1,094,228 |
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$ |
1,094,228 |
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$ |
— |
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$ |
— |
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Level 1 |
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Money market funds |
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15,441 |
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15,441 |
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15,441 |
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— |
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— |
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U.S. Treasury securities |
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26,160 |
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26,160 |
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2,849 |
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14,513 |
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8,798 |
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Mutual funds |
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N/A |
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2,984 |
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— |
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— |
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2,984 |
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Total level 1 |
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41,601 |
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44,585 |
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18,290 |
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14,513 |
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11,782 |
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Level 2 |
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Corporate notes and bonds |
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129,588 |
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129,588 |
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2,998 |
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85,767 |
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40,823 |
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Asset-backed securities |
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22,073 |
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22,073 |
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— |
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257 |
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21,816 |
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U.S. Agency securities |
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20,091 |
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20,091 |
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1,000 |
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17,933 |
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1,158 |
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Total level 2 |
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171,752 |
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171,752 |
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3,998 |
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103,957 |
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63,797 |
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Total |
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$ |
1,307,581 |
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$ |
1,310,565 |
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$ |
1,116,516 |
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$ |
118,470 |
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$ |
75,579 |
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