| Schedule of Fair Value of the Company's Cash Equivalents and Marketable Securities |
The Company’s investments consist of marketable securities classified as available-for-sale. The following tables provide a summary of the estimated fair value of the Company’s cash equivalents and marketable securities:
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December 31, 2025 |
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Classification |
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Amortized
Cost |
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Gross
Unrealized
Gain |
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Gross
Unrealized
Loss |
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Fair Value |
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Short-term |
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Long-term |
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Cash equivalents: |
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Money market funds |
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$ |
50,247 |
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$ |
— |
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$ |
— |
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$ |
50,247 |
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$ |
50,247 |
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$ |
— |
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Total cash equivalents |
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$ |
50,247 |
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$ |
— |
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$ |
— |
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$ |
50,247 |
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$ |
50,247 |
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$ |
— |
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Marketable securities: |
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U.S. treasury securities |
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$ |
345,668 |
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$ |
402 |
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$ |
— |
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$ |
346,070 |
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$ |
274,152 |
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$ |
71,918 |
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Certificate of deposit |
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6,112 |
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9 |
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— |
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6,121 |
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6,121 |
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— |
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U.S. government agency securities |
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17,053 |
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17 |
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(7 |
) |
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17,063 |
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7,521 |
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9,542 |
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Corporate debt securities |
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89,709 |
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81 |
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(15 |
) |
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89,775 |
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61,100 |
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28,675 |
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Commercial paper |
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4,312 |
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2 |
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— |
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4,314 |
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4,314 |
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— |
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Total marketable securities |
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$ |
462,854 |
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$ |
511 |
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$ |
(22 |
) |
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$ |
463,343 |
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$ |
353,208 |
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$ |
110,135 |
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December 31, 2024 |
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Classification |
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Amortized
Cost |
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Gross
Unrealized
Gain |
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Gross
Unrealized
Loss |
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Fair Value |
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Short-term |
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Long-term |
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Cash equivalents: |
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Money market funds |
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$ |
19,742 |
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$ |
— |
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$ |
— |
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$ |
19,742 |
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$ |
19,742 |
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$ |
— |
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Corporate debt securities |
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2,204 |
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— |
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— |
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2,204 |
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2,204 |
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— |
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Total cash equivalents |
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$ |
21,946 |
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$ |
— |
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$ |
— |
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$ |
21,946 |
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$ |
21,946 |
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$ |
— |
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Marketable securities: |
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U.S. treasury securities |
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$ |
257,334 |
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$ |
198 |
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$ |
(130 |
) |
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$ |
257,402 |
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$ |
186,552 |
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$ |
70,850 |
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U.S. government agency securities |
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6,946 |
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2 |
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(5 |
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6,943 |
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3,928 |
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3,015 |
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Corporate debt securities |
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69,791 |
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45 |
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(4 |
) |
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69,832 |
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61,969 |
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7,863 |
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Total marketable securities |
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$ |
334,071 |
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$ |
245 |
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$ |
(139 |
) |
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$ |
334,177 |
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$ |
252,449 |
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$ |
81,728 |
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As December 31, 2024, marketable securities within the corporate debt securities line item includes both commercial paper and corporate debt securities. Commercial paper held at December 31, 2024 was classified as short-term securities.
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| Schedule of Components of Interest Income |
The following table provides a summary of the components of interest and investment income:
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Year Ended
December 31, |
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2025 |
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2024 |
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Interest income |
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$ |
9,956 |
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$ |
11,347 |
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Accretion of discount on marketable securities, net |
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6,163 |
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6,018 |
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Total interest and investment income |
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$ |
16,119 |
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$ |
17,365 |
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