INVESTMENTS

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

The following tables summarize the fair value and amortized cost of the Company’s cash equivalents and available-for-sale securities by major security type (in thousands):


	As of March 31, 2025
	Amortized Cost		Unrealized Gains		Aggregate Fair Value
Assets:
U.S. government agency securities	$	15,303	$	6	$	15,309
Money market funds	13,403		—		13,403
Corporate bonds	12,912		7		12,919
U.S. treasury securities	10,491		2		10,493
Total financial assets	$	52,109	$	15	$	52,124


	As of December 31, 2024
	Amortized Cost		Unrealized Gains		Aggregate Fair Value
Assets:
U.S. government agency securities	$	18,730	$	16	$	18,746
U.S. treasury securities	11,752		1		11,753
Money market funds	10,410		—		10,410
Corporate bonds	8,157		5		8,162
Total financial assets	$	49,049	$	22	$	49,071

The maturity dates of the Company’s investments are as follows (in thousands):


	March 31, 2025
Less than one year	$	39,345
1-2 years	12,779
Total	$	52,124

As of both March 31, 2025 and December 31, 2024, there were no securities in a continuous net unrealized loss position for more than 12 months. As of both March 31, 2025 and December 31, 2024, the unrealized losses for available-for-sale investments were non-credit related and the Company does not intend to sell the investments that were in an unrealized loss position, nor does it foresee or project that it will be required to sell those investments before recovery of their amortized costs basis, which may be at maturity. Thus, as of both March 31, 2025 and December 31, 2024 no allowance for credit losses or impairment losses for the Company’s investments were recorded.