| Cash, Cash Equivalents and Restricted Cash |
Cash, Cash Equivalents and Restricted Cash The following table is a reconciliation of the cash, cash equivalents and restricted cash: | | | | | | | | | | | | | June 30, | | December 31, | | (in thousands) | 2025 | | 2024 | | Cash and cash equivalents | $ | 21,576 | | | $ | 48,277 | | Restricted cash (1) | 3,529 | | | 3,538 | | | Total | $ | 25,105 | | | $ | 51,815 | |
(1)As of June 30, 2025 and December 31, 2024, restricted cash balance primarily consisted of a letter of credit for the Alameda facility lease of $2.9 million, and a letter of credit for the HQ lease of $0.5 million. The following table is a summary of the Company’s available-for-sale securities: | | | | | | | | | | | | | | | | | June 30, 2025 | | (in thousands) | Amortized Cost | | | | | | Fair Value | | Money market funds | $ | 22,995 | | | | | | | $ | 22,995 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total available-for-sale securities | $ | 22,995 | | | | | | | $ | 22,995 | | | | | | | | | | | Classified as: | | | | | | | | | Cash equivalents | | | | | | | $ | 19,466 | | | Restricted cash | | | | | | | 3,529 | | | Total available-for-sale securities | | | | | | | $ | 22,995 | |
| | | | | | | | | | | | | | | | | December 31, 2024 | | (in thousands) | Amortized Cost | | | | | | Fair Value | | Money market funds | $ | 39,407 | | | | | | | $ | 39,407 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total available-for-sale securities | $ | 39,407 | | | | | | | $ | 39,407 | | | | | | | | | | | Classified as: | | | | | | | | | Cash equivalents | | | | | | | $ | 35,869 | | | Restricted cash | | | | | | | 3,538 | | | Total available-for-sale securities | | | | | | | $ | 39,407 | |
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