| 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 June 30, 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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$ |
1,346,790 |
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$ |
1,346,790 |
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$ |
1,346,790 |
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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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17,381 |
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17,381 |
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17,381 |
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— |
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— |
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U.S. Treasury securities |
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24,542 |
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24,542 |
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— |
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15,624 |
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8,918 |
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Mutual funds |
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N/A |
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1,890 |
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— |
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— |
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1,890 |
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Total level 1 |
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41,923 |
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43,813 |
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17,381 |
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15,624 |
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10,808 |
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Level 2 |
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Corporate notes and bonds |
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140,984 |
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140,984 |
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9,994 |
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85,145 |
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45,845 |
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Asset-backed securities |
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22,481 |
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22,481 |
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— |
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1,311 |
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21,170 |
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U.S. Agency securities |
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8,341 |
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8,341 |
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2,987 |
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4,174 |
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1,180 |
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Total level 2 |
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171,806 |
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171,806 |
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12,981 |
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90,630 |
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68,195 |
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Total |
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$ |
1,560,519 |
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$ |
1,562,409 |
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$ |
1,377,152 |
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$ |
106,254 |
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$ |
79,003 |
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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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