Investments (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Assets or Liabilities Having Recurring Measurements

Assets or liabilities that have recurring fair value measurements are shown below as of March 31, 2026 and December 31, 2025.

As of March 31, 2026:


			Fair Value Measurements at Reporting Date Using
	Total as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	March 31, 2026		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	164,761,633	$	164,761,633	$	—	$	—

Short-Term Investments:


Corporate Bonds	8,951,418		—		8,951,418		—

Municipal Bonds	484,164		—		484,164		—
Other	850,256		850,256		—		—
Long-Term Investments:
Asset-backed Securities	34,761,215		—		34,761,215		—

Corporate Bonds	51,751,578		—		51,751,578		—

Municipal Bonds	16,857,126		—		16,857,126		—

Total	$	278,417,390	$	165,611,889	$	112,805,501	$	—

As of December 31, 2025:


			Fair Value Measurements at Reporting Date Using
	Total as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	December 31, 2025		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	145,645,715	$	145,645,715	$	—	$	—

Short-Term Investments:


Corporate Bonds	2,747,293		—		2,747,293		—


Other	924,658		924,658		—		—
Long-Term Investments:
Asset-backed Securities	35,709,133		—		35,709,133		—

Corporate Bonds	55,596,276		—		55,596,276		—

Municipal Bonds	16,840,001		—		16,840,001

Total	$	257,463,076	$	146,570,373	$	110,892,703	$	—

Schedule of Amortized Cost, Unrealized Gains and Losses, and Market Value of Investment Securities

The amortized cost, unrealized gains and losses, and market value of investment securities are shown below as of March 31, 2026 and December 31, 2025.

As of March 31, 2026:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:


Corporate Bonds	$	8,908,422	$	42,996	$	—	$	8,951,418

Municipal Bonds	481,122		3,042		—		484,164
Other	850,256		—		—		850,256
Long-Term Investments:
Asset-backed Securities	33,757,636		1,023,608		(20,029)		34,761,215

Corporate Bonds	51,998,693		399,389		(646,504)		51,751,578

Municipal Bonds	16,768,335		278,329		(189,538)		16,857,126

Total	$	112,764,464	$	1,747,364	$	(856,071)	$	113,655,757

As of December 31, 2025:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:


Corporate Bonds	$	2,725,824	$	21,469	$	—	$	2,747,293


Other	924,658		—		—		924,658
Long-Term Investments:
Asset-backed Securities	34,581,117		1,128,541		(525)		35,709,133

Corporate Bonds	55,218,308		684,752		(306,784)		55,596,276

Municipal Bonds	16,662,335		351,044		(173,378)		16,840,001

Total	$	110,112,242	$	2,185,806	$	(480,687)	$	111,817,361

Schedule of Unrealized Loss on available-for-sale securities

Unrealized losses on available-for-sale securities as of March 31, 2026, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	499,489	$	29,377,653
Loss duration of greater than one year	356,582		11,010,858
Total	$	856,071	$	40,388,511

Unrealized losses on available-for-sale securities as of December 31, 2025, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	272,327	$	24,149,316
Loss duration of greater than one year	208,360		5,471,407
Total	$	480,687	$	29,620,723

Schedule of Investments Classified by Contractual Maturity Date

Fixed income securities as of March 31, 2026 have contractual maturities as follows:


Due within one year	$	9,435,582
Due between one and five years	41,668,130
Due over five years	61,701,789
	$	112,805,501