INVESTMENTS

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

The following tables summarize the fair value and amortized cost of the Company’s cash equivalents and available-for-sale securities by major security type (in thousands):


	As of March 31, 2026
	Amortized Cost		Unrealized Losses		Aggregate Fair Value
Assets:
Corporate bonds	$	19,254	$	(3)	$	19,251
U.S. treasury securities	8,738		(6)		8,732
Money market funds	5,870		—		5,870
U.S. government agency securities	4,723		(3)		4,720
Total financial assets	$	38,585	$	(12)	$	38,573


	As of December 31, 2025
	Amortized Cost		Unrealized Gains		Aggregate Fair Value
Assets:
Money market funds	$	30,661	$	—	$	30,661
Corporate bonds	18,304		41		18,345
U.S. treasury securities	3,825		5		3,830
U.S. government agency securities	3,469		—		3,469
Total financial assets	$	56,259	$	46	$	56,305

The maturity dates of the Company’s investments are as follows (in thousands):


	March 31, 2026
Less than one year	$	34,794
1-2 years	3,779
Total	$	38,573

As of both March 31, 2026 and December 31, 2025, there were no securities in a continuous net unrealized loss position for more than 12 months. As of both March 31, 2026 and December 31, 2025, the unrealized losses for available-for-sale investments were non-credit related and the Company does not intend to sell the investments that were in an unrealized loss position, nor does it foresee or project that it will be required to sell those investments before recovery of their amortized costs basis, which may be at maturity. Thus, as of both March 31, 2026 and December 31, 2025 no allowance for credit losses or impairment losses for the Company’s investments were recorded.