v3.25.2
MARKETABLE SECURITIES (Tables)
6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Fair Value of Marketable Securities by Type of Security

The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of our marketable securities by type of security as of June 30, 2025 and December 31, 2024 was as follows:
JUNE 30, 2025
(in thousands)Fair Value Hierarchy LevelAmortized CostGross Unrealized Holding GainsGross Unrealized Holding Losses Fair Value
Money market fundsLevel 1$5,425 $— $— $5,425 
U.S. treasury securitiesLevel 129,896 19 (8)29,907 
U.S. government agency securitiesLevel 26,391 (2)6,397 
$41,712 $27 $(10)$41,729 
DECEMBER 31, 2024
(in thousands)Fair Value Hierarchy LevelAmortized CostGross Unrealized Holding GainsGross Unrealized Holding Losses Fair Value
Money market fundsLevel 1$8,705 $— $— $8,705 
U.S. treasury securitiesLevel 134,316 54 (15)34,355 
U.S. government agency securitiesLevel 217,224 32 (3)17,253 
$60,245 $86 $(18)$60,313 
Schedule of Marketable Securities by Balance Sheet Location Classification
The fair values of marketable securities by classification in the condensed consolidated balance sheets was as follows as of June 30, 2025 and December 31, 2024:
(in thousands)JUNE 30, 2025DECEMBER 31, 2024
Cash and cash equivalents$5,425 $8,705 
Marketable securities36,304 51,608 
$41,729 $60,313 
Schedule of Fair Values of Available-for-Sale Debt Securities by Contractual Maturity
The fair values of available-for-sale debt securities as of June 30, 2025 and December 31, 2024, by contractual maturity, are summarized as follows:
(in thousands)JUNE 30, 2025DECEMBER 31, 2024
Due in one year or less$41,729 $51,357 
Due after one year through two years— 8,956 
$41,729 $60,313