The fair value and amortized cost of investments in short-term marketable debt securities by major security type as of March 31, 2026 and December 31, 2025 are as follows:


(in thousands)	March 31, 2026
	Amortized cost		Gross unrealized gains		Fair value
Eurocommercial Papers	$	29,536	$	181	$	29,717
Certificates of Deposit	29,533		181		29,714
Total	$	59,069	$	362	$	59,431

Of which classified within short-term marketable debt securities	59,069		362		59,431


(in thousands)	December 31, 2025
	Amortized cost		Gross unrealized gains		Fair value

Certificates of Deposit	59,166		285		59,451
Total	$	59,166	$	285	$	59,451

Of which classified within short-term marketable debt securities	59,166		285		59,451

The following table presents the changes in fair values of the Company’s short-term marketable debt securities, classified as Level 2 financial assets, and recognized in “Accumulated other comprehensive income” for the three months ended March 31, 2026 and 2025, respectively:


(in thousands)	Three Months Ended March 31, 2026		Three Months Ended March 31, 2025
Beginning balance	$	285	$	5,407
Other comprehensive income before reclassifications	1,100		2,913
Amounts reclassified from accumulated other comprehensive income	(1,023)		(5,669)

Ending balance	$	362	$	2,651

As of March 31, 2026, the Company’s marketable debt securities maturities are all due within one year.