v3.26.1
FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, All Other Investments [Abstract]  
Schedule of Assets Measured at Fair Value on a Recurring Basis
The following table sets forth the fair value of our financial assets that were measured on a recurring basis:
March 31, 2026December 31, 2025
(In thousands)
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash and cash equivalents $56,274 $— $— $56,274 $60,496 $3,211 $— $63,707 
Investments:
Commercial paper — — — — — — — — 
Corporate debt securities — 20,238 — 20,238 — 23,250 — 23,250 
U.S. government & agency securities— 199,450 — 199,450 — 192,549 — 192,549 
Total investments — 219,688 — 219,688 — 215,799 — 215,799 
Short-term restricted cash19 — — 19 20 — — 20 
Long-term restricted cash1,571 — — 1,571 1,532 — — 1,532 
Total assets measured at fair value $57,864 $219,688 $— $277,552 $62,048 $219,010 $— $281,058 
Schedule of Cash, Cash Equivalents, Restricted Cash and Investments
The following tables summarize our cash, cash equivalents, restricted cash, and investments:
As of March 31, 2026
(In thousands)
Amortized
Cost 		Gross
unrealized
gains		Gross
unrealized
losses		Fair
Value
Cash and cash equivalents$56,274 $— $— $56,274 
Investments:
Corporate debt securities 20,245 28 (35)20,238 
U.S. government & agency securities199,590 88 (228)199,450 
Total investments 219,835 116 (263)219,688 
Total cash, cash equivalents and investments $276,109 $116 $(263)$275,962 
Short-term restricted cash$19 $— $— $19 
Long-term restricted cash$1,571 $— $— $1,571 
As of December 31, 2025
(In thousands)
Amortized
Cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
Value
Cash and cash equivalents$63,707 $— $— $63,707 
Investments:
Corporate debt securities23,172 78 — 23,250 
U.S. government & agency securities192,170 380 (1)192,549 
Total investments215,342 458 (1)215,799 
Total cash, cash equivalents and investments$279,049 $458 $(1)$279,506 
Short-term restricted cash$20 $— $— $20 
Long-term restricted cash$1,532 $— $— $1,532 
The following table summarizes the contractual maturities of our cash equivalents and available-for-sale investments, excluding money market funds, as of March 31, 2026:
(In thousands)
Fair Value
Due in one year or less $136,535 
Due after one year through five years 83,153 
Total$219,688