| Summary of assets and liabilities measured at fair value on a recurring basis |
The following table summarizes the assets measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Level 1 | | Level 2 | | Level 3 | | Total | | Cash & Cash Equivalents | $ | 36,964 | | | $ | — | | | $ | — | | | $ | 36,964 | | | Available-for-Sale Securities: | | | | | | | | | Municipal Debt Securities | — | | | 1,348 | | | — | | | 1,348 | | | Corporate Debt Securities | — | | | 48,204 | | | — | | | 48,204 | | | U.S. Government Agency Securities | — | | | 45,092 | | | — | | | 45,092 | | | Total Available-for-Sale Securities | — | | | 94,644 | | | — | | | 94,644 | | | Certificates of Deposit | 6,693 | | | — | | | — | | | 6,693 | | | Total Assets Measured at Fair Value on a Recurring Basis | $ | 43,657 | | | $ | 94,644 | | | $ | — | | | $ | 138,301 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Level 1 | | Level 2 | | Level 3 | | Total | | Cash & Cash Equivalents | $ | 83,219 | | | $ | — | | | $ | — | | | $ | 83,219 | | | Available-for-Sale Securities: | | | | | | | | | Corporate Debt Securities | — | | | 53,434 | | | — | | | 53,434 | | | U.S. Government Agency Securities | — | | | 44,202 | | | — | | | 44,202 | | | Total Available-for-Sale Securities | — | | | 97,636 | | | — | | | 97,636 | | | Certificates of Deposit | 6,417 | | | — | | | — | | | 6,417 | | | Total Assets Measured at Fair Value on a Recurring Basis | $ | 89,636 | | | $ | 97,636 | | | $ | — | | | $ | 187,272 | |
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