| Schedule of Fair Value Measurements of Financial Assets and Liabilities |
The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at December 31, 2024 and December 31, 2023:
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December 31, 2024 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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(in thousands) |
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Cash equivalents and investments: |
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Money market funds |
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$ |
64,109 |
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$ |
— |
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$ |
— |
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$ |
64,109 |
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Commercial paper |
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|
— |
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|
4,941 |
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— |
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|
4,941 |
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Corporate bonds |
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|
— |
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|
284,575 |
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— |
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|
284,575 |
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U.S. Government agency securities |
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— |
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|
117,369 |
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|
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— |
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|
117,369 |
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U.S. Treasury securities |
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— |
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1,307,363 |
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— |
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|
1,307,363 |
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Strategic investments |
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— |
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— |
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|
9,409 |
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|
9,409 |
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Restricted cash: |
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Money market funds |
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— |
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4,053 |
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— |
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|
4,053 |
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Total assets |
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$ |
64,109 |
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|
$ |
1,718,301 |
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|
$ |
9,409 |
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$ |
1,791,819 |
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Accrued expenses and other current liabilities: |
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Foreign currency derivative liabilities |
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$ |
— |
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|
$ |
584 |
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$ |
— |
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|
$ |
584 |
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Total |
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$ |
— |
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|
$ |
584 |
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$ |
— |
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|
$ |
584 |
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December 31, 2023 |
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Level 1 |
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Level 2 |
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|
Level 3 |
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Total |
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|
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(in thousands) |
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Cash equivalents and investments: |
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|
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Money market funds |
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$ |
20,003 |
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|
$ |
— |
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$ |
— |
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|
$ |
20,003 |
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Commercial paper |
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— |
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|
13,504 |
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— |
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|
13,504 |
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Corporate bonds |
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|
— |
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|
237,406 |
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— |
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|
237,406 |
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U.S. Government agency securities |
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— |
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|
122,758 |
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— |
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|
122,758 |
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U.S. Treasury securities |
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|
— |
|
|
|
960,763 |
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|
|
— |
|
|
|
960,763 |
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Strategic investments |
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— |
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|
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— |
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|
|
13,159 |
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|
13,159 |
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Restricted cash: |
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|
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Money market funds |
|
|
— |
|
|
|
4,053 |
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|
|
— |
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|
|
4,053 |
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Total |
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$ |
20,003 |
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|
$ |
1,338,484 |
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$ |
13,159 |
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|
$ |
1,371,646 |
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