CASH, CASH EQUIVALENTS AND INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-Sale

The following table presents the Company’s cash, cash equivalents and short-term investments:

	June 30, 2022								December 31, 2021
(in thousands)	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value		Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Cash:
Demand deposits	$	29,668	$	—	$	—	$	29,668	$	26,536	$	—	$	—	$	26,536
Cash equivalents:
Money market funds	439,933		—		—		439,933		1,152,761		—		—		1,152,761
U.S. agency securities	194,875		—		(19)		194,856		—		—		—		—
Total cash equivalents	634,808		—		(19)		634,789		1,152,761		—		—		1,152,761
Total cash and equivalents	664,476		—		(19)		664,457		1,179,297		—		—		1,179,297
Short-term investments:
U.S. agency securities	207,764		—		(141)		207,623		—		—		—		—
U.S. Treasury securities	392,439		—		(396)		392,043		—		—		—		—
Total short-term investments	600,203		—		(537)		599,666		—		—		—		—
Total cash, cash equivalents and short-term investments	$	1,264,679	$	—	$	(556)	$	1,264,123	$	1,179,297	$	—	$	—	$	1,179,297

Schedule of Cash and Cash Equivalents

The following table presents the Company’s cash, cash equivalents and short-term investments:

	June 30, 2022								December 31, 2021
(in thousands)	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value		Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Cash:
Demand deposits	$	29,668	$	—	$	—	$	29,668	$	26,536	$	—	$	—	$	26,536
Cash equivalents:
Money market funds	439,933		—		—		439,933		1,152,761		—		—		1,152,761
U.S. agency securities	194,875		—		(19)		194,856		—		—		—		—
Total cash equivalents	634,808		—		(19)		634,789		1,152,761		—		—		1,152,761
Total cash and equivalents	664,476		—		(19)		664,457		1,179,297		—		—		1,179,297
Short-term investments:
U.S. agency securities	207,764		—		(141)		207,623		—		—		—		—
U.S. Treasury securities	392,439		—		(396)		392,043		—		—		—		—
Total short-term investments	600,203		—		(537)		599,666		—		—		—		—
Total cash, cash equivalents and short-term investments	$	1,264,679	$	—	$	(556)	$	1,264,123	$	1,179,297	$	—	$	—	$	1,179,297