v3.24.1.u1
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Cash, Cash Equivalents, and Short-Term Investments [Abstract]  
Schedule of cash and cash equivalents As of March 31, 2024 and December 31, 2023, the Company’s cash and cash equivalents and short-term investments were composed of:
March 31, 2024
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$17,626 $— $— $17,626 $17,626 $17,626 $— 
Money market fundsLevel 1303,191 — — 303,191 303,191 303,191 — 
Certificate of deposits and term depositsLevel 2116,052 — — 116,052 116,052 23,204 92,848 
HTM securities (1)
U.S. Treasury billsLevel 1$139,373 $72 $— 139,445 139,373 $109,742 $29,631 
Corporate debt securitiesLevel 2$293,905 $297 $(5)294,197 293,905 $— $293,905 
$433,278 $369 $(5)$433,642 $433,278 $109,742 $323,536 
Total$870,147 $369 $(5)$870,511 $870,147 $453,763 $416,384 

December 31, 2023
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$9,955 $— $— $9,955 $9,955 $9,955 $— 
Money market fundsLevel 1227,166 — — 227,166 227,166 227,166 — 
Certificate of deposits and term depositsLevel 2153,169 — — 153,169 153,169 3,700 149,469 
HTM securities (1)
U.S. Treasury billsLevel 1$78,844 $55 $(110)78,789 78,844 $— $78,844 
Government and governmental agenciesLevel 2$24,940 $13 $— 24,953 24,940 $— $24,940 
Corporate debt securitiesLevel 2$416,542 $486 $(149)416,879 416,542 $— $416,542 
$520,326 $554 $(259)$520,621 $520,326 $— $520,326 
Total$910,616 $554 $(259)$910,911 $910,616 $240,821 $669,795 
(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.
(2)    Pursuant to a bank guaranty agreement, $16,189 of short-term investments are pledged. See Note 4.
Schedule of amortized cost and recorded basis of T-bills in short-term Investments As of March 31, 2024 and December 31, 2023, the Company’s cash and cash equivalents and short-term investments were composed of:
March 31, 2024
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$17,626 $— $— $17,626 $17,626 $17,626 $— 
Money market fundsLevel 1303,191 — — 303,191 303,191 303,191 — 
Certificate of deposits and term depositsLevel 2116,052 — — 116,052 116,052 23,204 92,848 
HTM securities (1)
U.S. Treasury billsLevel 1$139,373 $72 $— 139,445 139,373 $109,742 $29,631 
Corporate debt securitiesLevel 2$293,905 $297 $(5)294,197 293,905 $— $293,905 
$433,278 $369 $(5)$433,642 $433,278 $109,742 $323,536 
Total$870,147 $369 $(5)$870,511 $870,147 $453,763 $416,384 

December 31, 2023
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$9,955 $— $— $9,955 $9,955 $9,955 $— 
Money market fundsLevel 1227,166 — — 227,166 227,166 227,166 — 
Certificate of deposits and term depositsLevel 2153,169 — — 153,169 153,169 3,700 149,469 
HTM securities (1)
U.S. Treasury billsLevel 1$78,844 $55 $(110)78,789 78,844 $— $78,844 
Government and governmental agenciesLevel 2$24,940 $13 $— 24,953 24,940 $— $24,940 
Corporate debt securitiesLevel 2$416,542 $486 $(149)416,879 416,542 $— $416,542 
$520,326 $554 $(259)$520,621 $520,326 $— $520,326 
Total$910,616 $554 $(259)$910,911 $910,616 $240,821 $669,795 
(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.
(2)    Pursuant to a bank guaranty agreement, $16,189 of short-term investments are pledged. See Note 4.
Schedule of available-for-sale securities reconciliation As of March 31, 2024 and December 31, 2023, the Company’s cash and cash equivalents and short-term investments were composed of:
March 31, 2024
Unaudited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$17,626 $— $— $17,626 $17,626 $17,626 $— 
Money market fundsLevel 1303,191 — — 303,191 303,191 303,191 — 
Certificate of deposits and term depositsLevel 2116,052 — — 116,052 116,052 23,204 92,848 
HTM securities (1)
U.S. Treasury billsLevel 1$139,373 $72 $— 139,445 139,373 $109,742 $29,631 
Corporate debt securitiesLevel 2$293,905 $297 $(5)294,197 293,905 $— $293,905 
$433,278 $369 $(5)$433,642 $433,278 $109,742 $323,536 
Total$870,147 $369 $(5)$870,511 $870,147 $453,763 $416,384 

December 31, 2023
Audited
Fair value levelAdjusted cost basisUnrealized gainsUnrealized lossesFair market valueRecorded basisCash and cash equivalentsShort-term investments (2)
Cash$9,955 $— $— $9,955 $9,955 $9,955 $— 
Money market fundsLevel 1227,166 — — 227,166 227,166 227,166 — 
Certificate of deposits and term depositsLevel 2153,169 — — 153,169 153,169 3,700 149,469 
HTM securities (1)
U.S. Treasury billsLevel 1$78,844 $55 $(110)78,789 78,844 $— $78,844 
Government and governmental agenciesLevel 2$24,940 $13 $— 24,953 24,940 $— $24,940 
Corporate debt securitiesLevel 2$416,542 $486 $(149)416,879 416,542 $— $416,542 
$520,326 $554 $(259)$520,621 $520,326 $— $520,326 
Total$910,616 $554 $(259)$910,911 $910,616 $240,821 $669,795 
(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.
(2)    Pursuant to a bank guaranty agreement, $16,189 of short-term investments are pledged. See Note 4.