Gross Unrealized

Losses

Amortized

Less than

Greater than

Estimated

March 31, 2026

Cost

Gains

One Year

One Year

Fair Value

Short-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

$

67,931

$

117

$

(20

)

$

—

$

68,028

Corporate debt securities

92,166

186

(69

)

—

92,283

 Total short-term investments

160,097

303

(89

)

—

160,311

Long-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

15,044

—

(37

)

—

15,007

Corporate debt securities

11,255

—

(44

)

—

11,211

26,299

—

(81

)

—

26,218

Held-to-maturity securities:

Certificates of deposit

145

—

—

—

145

Total long-term investments

26,444

—

(81

)

—

26,363

Total investments

$

186,541

$

303

$

(170

)

$

—

$

186,674

December 31, 2025

Short-term investments:

Available-for-sale securities:

U.S. government and agency debt securities

$

101,033

$

338

$

—

$

—

$

101,371

Corporate debt securities

97,740

534

—

—

98,274

 Total short-term investments

198,773

872

—

—

199,645

Held-to-maturity securities:

Certificates of deposit

145

—

—

—

145

Total long-term investments

145

—

—

—

145

Total investments

$

198,918

$

872

$

—

$

—

$

199,790

Available-for-sale

Held-to-maturity

Amortized

Estimated

Amortized

Estimated

(In thousands)

Cost

Fair Value

Cost

Fair Value

Within 1 year

$

113,728

$

113,778

$

145

$

145

After 1 year through 5 years

72,668

72,751

—

—

Total

$

186,396

$

186,529

$

145

$

145