v3.25.1
Marketable securities
3 Months Ended
Mar. 31, 2025
Marketable Securities [Abstract]  
Marketable securities Marketable securities
Marketable securities as of March 31, 2025 consisted of the following (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Marketable securities, current:    
Corporate debt securities$146,220 $114 $(64)$146,270 
U.S. Treasury securities16,323 (2)16,324 
U.S. government debt securities1,200 — — 1,200 
Marketable securities, non-current:   
Corporate debt securities15,623 11 (17)15,617 
U.S. Treasury securities3,004 — (1)3,003 
U.S. government debt securities1,000 — (1)999 
Total marketable securities, current and non-current$183,370 $128 $(85)$183,413 
Marketable securities as of December 31, 2024 consisted of the following (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Marketable securities, current:    
Corporate debt securities$164,469 $189 $(85)$164,573 
U.S. government debt securities6,527 — 6,531 
U.S. Treasury securities18,291 12 (1)18,302 
Marketable securities, non-current:   
Corporate debt securities22,424 12 (78)22,358 
Total marketable securities, current and non-current$211,711 $217 $(164)$211,764 
Marketable securities classified as current have maturities of less than one year and are classified as available-for-sale. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) are not intended to be liquidated within the next twelve months, although these funds are available for use and, therefore, are classified as available-for-sale. No available-for-sale debt securities held as of March 31, 2025 or December 31, 2024 had remaining maturities greater than five years.
Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at March 31, 2025 and December 31, 2024, related to these securities.