| Investments |
Investments Cash equivalents, short-term and long-term investments as of June 30, 2025 were comprised as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | Cash equivalents and short-term investments: | | | | | | | | | | Money market funds, included in cash equivalents | | $ | 23,889 | | | $ | — | | | $ | — | | | $ | 23,889 | | Commercial paper | | 48,045 | | | 1 | | | (9) | | | 48,037 | | Government securities | | 62,632 | | | 26 | | | (12) | | | 62,646 | | Corporate debt securities | | 97,060 | | | 90 | | | (22) | | | 97,128 | | | Total cash equivalents and short-term investments | | 231,626 | | | 117 | | | (43) | | | 231,700 | | Long-term investments: | | | | | | | | | | Government securities | | 2,507 | | | 3 | | | — | | | 2,510 | | Corporate debt securities | | 14,630 | | | 44 | | | — | | | 14,674 | | | Total long-term investments | | 17,137 | | | 47 | | | — | | | 17,184 | | | Total cash equivalents and investments | | $ | 248,763 | | | $ | 164 | | | $ | (43) | | | $ | 248,884 | |
Cash equivalents, short-term investments and long-term investments as of December 31, 2024 were comprised as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | Cash equivalents and short-term investments: | | | | | | | | | | Money market funds, included in cash equivalents | | $ | 23,324 | | | $ | — | | | $ | — | | | $ | 23,324 | | Commercial paper | | 46,738 | | | 50 | | | (15) | | | 46,773 | | Government securities | | 59,130 | | | 48 | | | (8) | | | 59,170 | | Corporate debt securities | | 121,713 | | | 162 | | | (21) | | | 121,854 | | | Total cash equivalents and short-term investments | | 250,905 | | | 260 | | | (44) | | | 251,121 | | Long-term investments: | | | | | | | | | | Government securities | | 10,878 | | | 10 | | | — | | | 10,888 | | Corporate debt securities | | 25,675 | | | 84 | | | (14) | | | 25,745 | | | Total long-term investments | | 36,553 | | | 94 | | | (14) | | | 36,633 | | | Total cash equivalents and investments | | $ | 287,458 | | | $ | 354 | | | $ | (58) | | | $ | 287,754 | |
As of June 30, 2025, the aggregate fair value of securities that were in an unrealized loss position for less than twelve months was $101.9 million. As of December 31, 2024, the aggregate fair value of securities that were in an unrealized loss position for less than twelve months was $30.6 million. As of June 30, 2025 and December 31, 2024, the Company did not hold any securities that were in an unrealized loss position for greater than twelve months. Based upon its assessment of securities in an unrealized loss position, the Company did not record any allowances for credit losses during the six months ended June 30, 2025 or during the year ended December 31, 2024.
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