v3.25.2
Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Schedule of Investments [Abstract]  
Schedule of Contractual Maturities of Investments

The contractual maturities of the Investments are summarized below (in thousands):

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Available-for-Sale Investments

 

 

Held-to-Maturity Investments

 

 

 

Amortized
Cost Basis

 

 

Aggregate
Fair Value

 

 

Amortized
Cost Basis

 

 

Aggregate
Fair Value

 

Due in one year or less(1)

 

$

144,549

 

 

$

144,531

 

 

$

165,466

 

 

$

165,662

 

Due after one year through five years

 

 

22,234

 

 

 

22,240

 

 

 

5,498

 

 

 

5,482

 

Total

 

$

166,783

 

 

$

166,771

 

 

$

170,964

 

 

$

171,144

 

___________________________

The investments due in one year or less include cash equivalents of $22.6 million as of June 30, 2025 and $14.7 million as of December 31, 2024.
Schedule of Fair Value of Investments

The fair value of the Investments are disclosed below (dollars in thousands):

 

 

June 30, 2025

 

Available-for-Sale Investments

 

Investment Level

 

Amortized Cost
(Carrying Value)

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized
Holding Losses

 

 

Estimated
Fair Value

 

Money market funds and other

 

Level 1

 

$

22,552

 

 

$

—

 

 

$

—

 

 

$

22,552

 

Commercial bonds and paper

 

Level 2

 

 

52,818

 

 

 

25

 

 

 

(21

)

 

 

52,822

 

U.S. Treasury securities

 

Level 2

 

 

91,413

 

 

 

22

 

 

 

(38

)

 

 

91,397

 

Total cash equivalents and investments

 

 

 

 

166,783

 

 

 

47

 

 

 

(59

)

 

 

166,771

 

Less: cash equivalents

 

 

 

 

(22,552

)

 

 

—

 

 

 

—

 

 

 

(22,552

)

Total Investments

 

 

 

$

144,231

 

 

$

47

 

 

$

(59

)

 

$

144,219

 

 

 

 

December 31, 2024

 

Available-for-Sale Investments

 

Investment Level

 

Amortized Cost
(Carrying Value)

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized
Holding Losses

 

 

Estimated
Fair Value

 

Money market funds

 

Level 1

 

$

14,745

 

 

$

—

 

 

$

—

 

 

$

14,745

 

Commercial bonds and paper

 

Level 2

 

 

44,145

 

 

 

49

 

 

 

(24

)

 

 

44,170

 

U.S. Treasury securities

 

Level 2

 

 

112,074

 

 

 

184

 

 

 

(29

)

 

 

112,229

 

Total cash equivalents and investments

 

 

 

 

170,964

 

 

 

233

 

 

 

(53

)

 

 

171,144

 

Less: cash equivalents

 

 

 

 

(14,745

)

 

 

—

 

 

 

—

 

 

 

(14,745

)

Total Investments

 

 

 

$

156,219

 

 

$

233

 

 

$

(53

)

 

$

156,399