As of March 31, 2026 and December 31, 2025, the Company’s security portfolio consisted of 51 securities and 56 securities, respectively, related to marketable securities in debt securities available-for-sale, of which there were 49 securities and 10 securities in unrealized loss positions as of March 31, 2026 and December 31, 2025, respectively. There were no securities in an unrealized loss position for greater than 12 months as of March 31, 2026 or December 31, 2025. The Company does not intend to sell the marketable securities prior to the value of the securities being recovered and it is not more likely than not that the Company will be required to sell the marketable securities before recovery of their amortized cost basis. The Company did not record an allowance for credit losses as of March 31, 2026 or December 31, 2025. Accrued interest receivable relating to the Company’s available-for-sale securities is presented within prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets, and amounted to $2.2 million and $1.1 million as of March 31, 2026 and December 31, 2025, respectively.

Marketable securities, which are classified as available-for-sale, consisted of the following (in thousands):


	March 31, 2026
	Amortized Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Commercial paper	$	35,215	$	—	$	(27	)	$	35,188
Treasury bills		87,860		—		(129	)		87,731
Corporate debt securities		18,594		—		(31	)		18,563
Agency bonds		25,427		—		(55	)		25,372
Total marketable securities	$	167,096	$	—	$	(242	)	$	166,854


	December 31, 2025
	Amortized Cost Basis		Unrealized Gain		Unrealized Loss			Fair Value
Commercial paper	$	55,300	$	10	$	(18	)	$	55,292
Treasury bills		87,924		49		—			87,973
Corporate debt securities		18,533		5		(9	)		18,529
Agency bonds		27,204		10		(5	)		27,209
Total marketable securities	$	188,961	$	74	$	(32	)	$	189,003