Marketable Securities

3 Months Ended

Mar. 31, 2025

Debt Securities, Available-for-Sale [Abstract]

3. Marketable Securities

The following table summarizes the amortized cost and estimated fair values of securities available-for-sale:


	As of March 31, 2025
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash equivalents:
Money market funds	$	12,884	$	-	$	-		$	12,884
Total cash equivalents	$	12,884	$	-	$	-		$	12,884
Current marketable securities:
U.S. Treasury securities	$	10,949	$	-	$	(1	)	$	10,948
Total current marketable securities	$	10,949	$	-	$	(1	)	$	10,948


	As of December 31, 2024
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Carrying Value
(in thousands)
Cash equivalents:
Money market funds	$	11,720	$	-	$	-	$	11,720
Total cash equivalents	$	11,720	$	-	$	-	$	11,720
Current marketable securities:
U.S. Treasury securities	$	21,821	$	14	$	-	$	21,835
Total current marketable securities	$	21,821	$	14	$	-	$	21,835

The maturities of our available-for-sale securities are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid.


	As of March 31, 2025				As of December 31, 2024
(in thousands)	Amortized Cost		Carrying Value		Amortized Cost		Carrying Value
Due in one year or less	$	10,949	$	10,948	$	21,821	$	21,835

Unrealized gains and losses, net of any related tax effects for available-for-sale securities are excluded from earnings and are included in other comprehensive loss and reported as a separate component of stockholders' equity until realized. Realized gains and losses on marketable securities are included in Other expense, net, in the accompanying Consolidated Statements of Operations. The Company had a net unrealized loss of $1,000 and net unrealized gain of $14,000 as of March 31, 2025 and December 31, 2024, respectively. The Company did not have sales of investments during the three-months ended March 31, 2025 and 2024 that resulted in realized gains or losses. As of March 31, 2025 and December 31, 2024, the Company did not recognize credit losses. The Company has accrued interest income receivable of $103,000 and $121,000 as of March 31, 2025 and December 31, 2024, respectively, recorded in Prepaids and other current assets in the Consolidated Balance Sheets.