Investments in Marketable Debt Securities, Available-for-Sale (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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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 income (loss) and fair value of marketable debt securities, available-for-sale, by type of security consisted of the following (in thousands):
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December 31, 2025 |
|
Amortized
Cost |
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Allowance
for Credit
Losses |
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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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| Asset-backed securities (“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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December 31, 2024 |
|
Amortized
Cost |
|
Allowance
for Credit
Losses |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Short-term investments: |
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| U.S. treasuries |
$ |
29,515 |
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|
$ |
— |
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$ |
20 |
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$ |
(18) |
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$ |
29,517 |
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| Corporate debt |
160,152 |
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— |
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55 |
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(57) |
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160,150 |
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$ |
189,667 |
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$ |
— |
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$ |
75 |
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$ |
(75) |
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$ |
189,667 |
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| Long-term investments: |
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| U.S. treasuries |
$ |
819 |
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$ |
— |
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$ |
— |
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$ |
(46) |
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$ |
773 |
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| U.S. government sponsored entities |
996 |
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— |
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3 |
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(70) |
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|
929 |
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| Corporate debt |
31,820 |
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— |
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139 |
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(1,025) |
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30,934 |
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| ABS and other |
18,731 |
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— |
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114 |
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(334) |
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18,511 |
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$ |
52,366 |
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$ |
— |
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$ |
256 |
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$ |
(1,475) |
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$ |
51,147 |
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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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December 31, 2025 |
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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 |
|
Gross
Unrealized
Losses |
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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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December 31, 2024 |
|
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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$ |
10,050 |
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$ |
(64) |
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$ |
10,050 |
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$ |
(64) |
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| U.S. government sponsored entities |
— |
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— |
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|
432 |
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(70) |
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432 |
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(70) |
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| Corporate debt |
15,654 |
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(46) |
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25,520 |
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(1,036) |
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41,174 |
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(1,082) |
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| ABS and other |
6,393 |
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(70) |
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4,333 |
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(264) |
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10,726 |
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(334) |
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$ |
22,047 |
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$ |
(116) |
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$ |
40,335 |
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$ |
(1,434) |
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$ |
62,382 |
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$ |
(1,550) |
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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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Years Ended December 31, |
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2025 |
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2024 |
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2023 |
Gross realized gains (1)
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$ |
8 |
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$ |
— |
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$ |
— |
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Gross realized losses (1)
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$ |
— |
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$ |
— |
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$ |
(190) |
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(1)Recorded in other income, net in the 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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December 31, 2025 |
|
December 31, 2024 |
|
Amortized
Cost |
|
Fair Value |
|
Amortized
Cost |
|
Fair Value |
| Due in one year or less |
$ |
90,557 |
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$ |
90,564 |
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$ |
189,667 |
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$ |
189,667 |
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| Due after one year through five years |
85,624 |
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86,148 |
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26,315 |
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25,944 |
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| Due after five years through ten years |
16,055 |
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16,118 |
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11,246 |
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10,716 |
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| Due after ten years |
43,891 |
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43,435 |
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14,805 |
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14,487 |
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$ |
236,127 |
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$ |
236,265 |
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$ |
242,033 |
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$ |
240,814 |
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