v3.26.1
SHORT-TERM INVESTMENTS
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 4 – SHORT-TERM INVESTMENTS

 

The following table provides a summary of the short-term investments (in thousands):

 

   March 31, 2026 
   Amortized Cost  

Gross

Unrealized

Gain		  

Gross

Unrealized

Loss		   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $20,043    —    (5)  $20,038 
U.S. federal agency securities   17,875    —    (9)   17,866 
Certificates of deposit   69,000    —    (7)   68,993 
Total available-for-sale, short-term investments  $106,918    —    (21)  $106,897 

 

   December 31, 2025 
  

Amortized

Cost		  

Gross

Unrealized

Gain		  

Gross

Unrealized

Loss		   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $25,057    31    —   $25,088 
U.S. federal agency securities   17,772    2    —    17,774 
Certificates of deposit   70,000    105    —    70,105 
Total available-for-sale, short-term investments  $112,829    138    —   $112,967 

 

As of March 31, 2026, the available-for-sale securities classified as short-term investments mature in one year or less. The Company carries its available-for-sale securities at fair value in the condensed consolidated balance sheets. Unrealized losses on available-for-sale securities as of March 31, 2026, were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. None of the short-term investments have been in a continuous unrealized loss position for more than 12 months. Accordingly, no other-than-temporary impairment was recorded for the three months ended March 31, 2026.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments during the three months ended March 31, 2026 or 2025.