| INVESTMENTS A summary of debt securities by major security type: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Available-for-Sale Securities: (1) | | | | | | | | | Municipal Debt Securities | $ | 1,346 | | | $ | 2 | | | $ | — | | | $ | 1,348 | | | Corporate Debt Securities | 48,197 | | | 34 | | | (27) | | | 48,204 | | | U.S. Government Agency Securities | 45,141 | | | 1 | | | (50) | | | 45,092 | | | Total | $ | 94,684 | | | $ | 37 | | | $ | (77) | | | $ | 94,644 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Available-for-Sale Securities: (1) | | | | | | | | | Corporate Debt Securities | $ | 53,452 | | | $ | 22 | | | $ | (40) | | | $ | 53,434 | | | U.S. Government Agency Securities | 44,303 | | | 2 | | | (103) | | | 44,202 | | | Total | $ | 97,755 | | | $ | 24 | | | $ | (143) | | | $ | 97,636 | |
| | | | | | | (1) | The Company also holds Certificates of Deposit that are included in Investments on the Condensed Consolidated Balance Sheets totaling $6,693 and $6,417 as of June 30, 2025 and December 31, 2024, respectively. |
As of June 30, 2025, the unrealized losses were the result of changes in market interest rates and were not the result of a deterioration in the credit quality of the securities. As of June 30, 2025, the Company expects any unrealized losses to be recoverable prior to the investment's conversion to cash.
|