v3.26.1
Financial Instruments
3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments Financial Instruments
Marketable securities classified as available-for-sale as of March 31, 2026 and December 31, 2025 consisted of the following (in thousands):
March 31, 2026
MaturityAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
U.S. Treasury billsLess than one year$69,577 $13 $(41)$69,549 
December 31, 2025
MaturityAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
U.S. Treasury billsLess than one year$69,439 $58 $(6)$69,491 
As of March 31, 2026 and December 31, 2025, marketable securities that had contractual maturities less than one year are classified as current because management considers these marketable securities to be available for current operations. The Company does not intend to sell its marketable securities and it is not likely that the Company will be required to sell these securities before recovery of their amortized cost basis. There were $69.5 million of marketable securities classified as available-for-sale as of March 31, 2026 and December 31, 2025.