Investments in Marketable Debt Securities, Available-for-Sale (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Amortized Cost, Allowance for Credit Losses, Gross Unrealized Gains/Losses in Accumulated Other Comprehensive Income/Loss and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security |
Amortized cost, allowance for credit losses, gross unrealized gains (losses) in accumulated other comprehensive (loss) income and fair value of marketable debt securities, available-for-sale, by type of security consisted of the following (in thousands):
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June 30, 2026 |
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Amortized
Cost |
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Allowance
for Credit
Losses |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair
Value |
| Short-term investments: |
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| U.S. treasuries |
$ |
9,765 |
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$ |
— |
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$ |
— |
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$ |
(13) |
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$ |
9,752 |
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| Corporate debt |
47,522 |
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— |
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6 |
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(31) |
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47,497 |
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$ |
57,287 |
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$ |
— |
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$ |
6 |
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$ |
(44) |
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$ |
57,249 |
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| Long-term investments: |
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| U.S. treasuries |
$ |
21,759 |
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$ |
— |
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$ |
— |
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$ |
(183) |
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$ |
21,576 |
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| U.S. government sponsored entities |
4,074 |
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— |
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10 |
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(75) |
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4,009 |
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| Corporate debt |
48,419 |
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— |
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169 |
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(544) |
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48,044 |
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| Asset-backed securities (“ABS”) and other |
61,567 |
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— |
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159 |
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(909) |
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60,817 |
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$ |
135,819 |
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$ |
— |
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$ |
338 |
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$ |
(1,711) |
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$ |
134,446 |
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December 31, 2025 |
|
Amortized
Cost |
|
Allowance
for Credit
Losses |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Short-term investments: |
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| Corporate debt |
$ |
90,557 |
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|
$ |
— |
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$ |
28 |
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|
$ |
(21) |
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$ |
90,564 |
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$ |
90,557 |
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$ |
— |
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$ |
28 |
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$ |
(21) |
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$ |
90,564 |
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| Long-term investments: |
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| U.S. treasuries |
$ |
29,058 |
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$ |
— |
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$ |
218 |
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$ |
(17) |
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$ |
29,259 |
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| U.S. government sponsored entities |
2,490 |
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— |
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17 |
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(46) |
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2,461 |
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| Corporate debt |
54,093 |
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— |
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|
578 |
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(414) |
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54,257 |
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| ABS and other |
59,929 |
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— |
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452 |
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(657) |
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59,724 |
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$ |
145,570 |
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$ |
— |
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$ |
1,265 |
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$ |
(1,134) |
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$ |
145,701 |
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| Schedule of Available-for-sale Marketable Debt Securities in a Continuous Unrealized Loss Position |
The Company’s investments in marketable debt securities, available-for-sale, that have been in a continuous unrealized loss position, for which an allowance for credit losses has not been recorded, by type of security consisted of the following (in thousands):
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June 30, 2026 |
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Less than 12 months |
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12 months or greater |
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Total |
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Fair
Value |
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Gross
Unrealized
Losses |
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Fair
Value |
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Gross
Unrealized
Losses |
|
Fair
Value(1)
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Gross
Unrealized
Losses |
| U.S. treasuries |
$ |
30,310 |
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$ |
(172) |
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$ |
763 |
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$ |
(24) |
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$ |
31,073 |
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$ |
(196) |
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| U.S. government sponsored entities |
3,155 |
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(27) |
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384 |
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(48) |
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3,539 |
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(75) |
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| Corporate debt |
62,677 |
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(107) |
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9,216 |
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(468) |
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71,893 |
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(575) |
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| ABS and other |
24,768 |
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(208) |
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6,058 |
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(701) |
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30,826 |
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(909) |
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$ |
120,910 |
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$ |
(514) |
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$ |
16,421 |
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$ |
(1,241) |
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$ |
137,331 |
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$ |
(1,755) |
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December 31, 2025 |
|
Less than 12 months |
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12 months or greater |
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Total |
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Fair
Value |
|
Gross
Unrealized
Losses |
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
Fair
Value(1)
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|
Gross
Unrealized
Losses |
| U.S. treasuries |
$ |
— |
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|
$ |
— |
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$ |
780 |
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$ |
(17) |
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$ |
780 |
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$ |
(17) |
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| U.S. government sponsored entities |
1,562 |
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(2) |
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|
413 |
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(44) |
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1,975 |
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(46) |
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| Corporate debt |
21,937 |
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(5) |
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12,266 |
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(430) |
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34,203 |
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(435) |
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| ABS and other |
8,237 |
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(387) |
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3,426 |
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(270) |
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11,663 |
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(657) |
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$ |
31,736 |
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$ |
(394) |
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$ |
16,885 |
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$ |
(761) |
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$ |
48,621 |
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$ |
(1,155) |
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(1)The fair value excludes accrued interest receivable.
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| Schedule of Gross Realized Gains and Losses from Sale of Available for Sale Marketable Debt Securities |
Gross realized gains and losses from the sales of the Company’s marketable debt securities, available-for-sale, consisted of the following (in thousands):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
Gross realized gains (1)
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$ |
— |
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|
$ |
— |
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$ |
— |
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$ |
8 |
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Gross realized losses (1)
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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(1)Recorded in other income, net in the condensed consolidated statements of operations. The cost basis of securities sold were determined based on the specific identification method.
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| Schedule of Amortized Cost and Fair Value of Marketable Debt Securities, Available-for-Sale, by Contractual Maturity |
Amortized cost and fair value of marketable debt securities, available-for-sale, by contractual maturity consisted of the following (in thousands, except weighted average data):
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June 30, 2026 |
|
December 31, 2025 |
|
Amortized
Cost |
|
Fair Value |
|
Amortized
Cost |
|
Fair Value |
| Due in one year or less |
$ |
57,287 |
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$ |
57,249 |
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$ |
90,557 |
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$ |
90,564 |
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| Due after one year through five years |
73,972 |
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73,560 |
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85,624 |
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86,148 |
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| Due after five years through ten years |
16,978 |
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16,885 |
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16,055 |
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16,118 |
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| Due after ten years |
44,869 |
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44,001 |
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43,891 |
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43,435 |
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$ |
193,106 |
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$ |
191,695 |
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$ |
236,127 |
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$ |
236,265 |
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