v3.25.2
SHORT-TERM INVESTMENTS
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 3 – SHORT-TERM INVESTMENTS

 

The following table provides a summary of the short-term investments (in thousands):

 

   June 30, 2025 
   Amortized Cost   Gross Unrealized Gain   Gross Unrealized Loss   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $35,592    —    (37)  $35,555 
U.S. federal agency securities   16,436    —    (27)   16,409 
Certificates of deposit   10,000    19    —    10,019 
Total available-for-sale, short-term investments  $62,028    19    (64)  $61,983 

 

 

   December 31, 2024 
   Amortized Cost   Gross Unrealized Gain   Gross Unrealized Loss   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $23,990    —    (22)  $23,968 
U.S. federal agency securities   40,365    10    —    40,375 
Certificates of deposit   10,000    20    —    10,020 
Total available-for-sale, short-term investments  $74,355    30    (22)  $74,363 

 

As of June 30, 2025, the available-for-sale securities classified as short-term investments mature in one year or less. The Company carries its available-for-sale securities at fair value in the condensed consolidated balance sheets. Unrealized losses on available-for-sale securities as of June 30, 2025, were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. None of the short-term investments have been in a continuous unrealized loss position for more than 12 months. Accordingly, no other-than-temporary impairment was recorded for the three and six months ended June 30, 2025.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments for the three and six months ended June 30, 2025 or 2024.