| Summary of Marketable Securities Accounted for Available-for-Sale Securities |
The following tables summarize the Company’s marketable securities accounted for as available-for-sale securities (in thousands, except years):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
|
Maturity |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Estimated |
|
|
|
(in years) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
US treasury securities |
|
1 or less |
|
$ |
67,084 |
|
|
$ |
92 |
|
|
$ |
(6 |
) |
|
$ |
67,170 |
|
US government agency securities |
|
1 or less |
|
|
48,278 |
|
|
|
40 |
|
|
|
(12 |
) |
|
|
48,306 |
|
Corporate debt securities |
|
1 or less |
|
|
12,560 |
|
|
|
— |
|
|
|
(29 |
) |
|
|
12,531 |
|
Commercial paper |
|
1 or less |
|
|
68,721 |
|
|
|
— |
|
|
|
(196 |
) |
|
|
68,525 |
|
US treasury securities |
|
1-2 |
|
|
131,637 |
|
|
|
— |
|
|
|
(480 |
) |
|
|
131,157 |
|
US government agency securities |
|
1-2 |
|
|
33,670 |
|
|
|
9 |
|
|
|
(117 |
) |
|
|
33,562 |
|
Total |
|
|
|
$ |
361,950 |
|
|
$ |
141 |
|
|
$ |
(840 |
) |
|
$ |
361,251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Maturity |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Estimated |
|
|
|
(in years) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
US treasury securities |
|
1 or less |
|
$ |
99,640 |
|
|
$ |
274 |
|
|
$ |
— |
|
|
$ |
99,914 |
|
US government agency securities |
|
1 or less |
|
|
74,345 |
|
|
|
218 |
|
|
|
— |
|
|
|
74,563 |
|
Commercial paper |
|
1 or less |
|
|
27,769 |
|
|
|
24 |
|
|
|
— |
|
|
|
27,793 |
|
US treasury securities |
|
1-2 |
|
|
47,725 |
|
|
|
55 |
|
|
|
— |
|
|
|
47,780 |
|
US government agency securities |
|
1-2 |
|
|
17,884 |
|
|
|
57 |
|
|
|
— |
|
|
|
17,941 |
|
Total |
|
|
|
$ |
267,363 |
|
|
$ |
628 |
|
|
$ |
— |
|
|
$ |
267,991 |
|
|
| Summary of Fair Values and Gross Unrealized Losses for Available-for-sale Securities |
The following table presents fair values and gross unrealized losses for those available-for-sale securities that were in an unrealized loss position as of March 31, 2026, aggregated by category and the length of time that the securities have been in a continuous loss position (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
|
Unrealized losses less than 12 months |
|
|
Unrealized losses 12 months or greater |
|
|
Total |
|
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
US treasury securities |
|
$ |
134,107 |
|
|
$ |
(486 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
134,107 |
|
|
$ |
(486 |
) |
US government agency securities |
|
|
43,161 |
|
|
|
(129 |
) |
|
|
— |
|
|
|
— |
|
|
|
43,161 |
|
|
|
(129 |
) |
Corporate debt securities |
|
|
12,531 |
|
|
|
(29 |
) |
|
|
— |
|
|
|
— |
|
|
|
12,531 |
|
|
|
(29 |
) |
Commercial paper |
|
|
68,525 |
|
|
|
(196 |
) |
|
|
— |
|
|
|
— |
|
|
|
68,525 |
|
|
|
(196 |
) |
Total |
|
$ |
258,324 |
|
|
$ |
(840 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
258,324 |
|
|
$ |
(840 |
) |
|