| Summary of Equity and Debt Securities |
The Company’s equity and debt securities consisted of the following:
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June 30, 2026 |
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Amortized
Cost Basis |
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Unrealized
Gains |
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Unrealized
Losses |
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Aggregate
Fair Value |
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(in thousands) |
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Equity securities |
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Long-term |
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Preferred stock of privately-held companies |
$ |
15,001 |
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$ |
— |
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|
$ |
— |
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|
$ |
15,001 |
|
Total equity securities |
|
15,001 |
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— |
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— |
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|
|
15,001 |
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Available-for-sale debt securities |
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Short-term |
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U.S. government debt securities |
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156,278 |
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|
220 |
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|
— |
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|
156,498 |
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Corporate debt securities |
|
40,855 |
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35 |
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(3 |
) |
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|
40,887 |
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U.S. agency debt securities |
|
32,960 |
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11 |
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(4 |
) |
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32,967 |
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Municipal bonds |
|
375 |
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|
— |
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— |
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|
375 |
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Money market accounts |
|
5,108 |
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— |
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— |
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|
5,108 |
|
Less: Cash equivalents |
|
(5,108 |
) |
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|
— |
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— |
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|
(5,108 |
) |
Total debt securities due within 1 year |
|
230,468 |
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|
266 |
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|
(7 |
) |
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|
230,727 |
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After 1 year through 5 years |
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U.S. government debt securities |
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246,904 |
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|
195 |
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(1,688 |
) |
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|
245,411 |
|
U.S. agency debt securities |
|
48,617 |
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|
— |
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(630 |
) |
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|
47,987 |
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Municipal bonds |
|
920 |
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|
1 |
|
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(3 |
) |
|
|
918 |
|
Total debt securities due after 1 year through 5 years |
|
296,441 |
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|
196 |
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(2,321 |
) |
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|
294,316 |
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Total available-for-sale debt securities |
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526,909 |
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|
462 |
|
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(2,328 |
) |
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|
525,043 |
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Total equity and debt securities |
$ |
541,910 |
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|
$ |
462 |
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|
$ |
(2,328 |
) |
|
$ |
540,044 |
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|
December 31, 2025 |
|
|
Amortized
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Aggregate
Fair Value |
|
|
(in thousands) |
|
Equity securities |
|
|
|
|
|
|
|
|
|
|
|
Long-term |
|
|
|
|
|
|
|
|
|
|
|
Preferred stock of privately-held companies |
$ |
15,001 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,001 |
|
Total equity securities |
|
15,001 |
|
|
|
— |
|
|
|
— |
|
|
|
15,001 |
|
Available-for-sale debt securities |
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|
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Short-term |
|
|
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U.S. government debt securities |
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159,875 |
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|
748 |
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(1 |
) |
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|
160,622 |
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U.S. agency debt securities |
|
86,786 |
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|
133 |
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(1 |
) |
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|
86,918 |
|
Corporate debt securities |
|
37,333 |
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|
157 |
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(16 |
) |
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|
37,474 |
|
Yankee debt securities |
|
500 |
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|
— |
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(5 |
) |
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|
495 |
|
Municipal bonds |
|
375 |
|
|
|
— |
|
|
|
— |
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|
|
375 |
|
Money market accounts |
|
18,398 |
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|
— |
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— |
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|
18,398 |
|
Less: Cash equivalents |
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(18,398 |
) |
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— |
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— |
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(18,398 |
) |
Total debt securities due within 1 year |
|
284,869 |
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|
1,038 |
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(23 |
) |
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|
285,884 |
|
After 1 year through 5 years |
|
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|
U.S. government debt securities |
|
284,857 |
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|
2,821 |
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(67 |
) |
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|
287,611 |
|
U.S. agency debt securities |
|
70,567 |
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|
123 |
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(51 |
) |
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|
70,639 |
|
Corporate debt securities |
|
9,922 |
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|
85 |
|
|
|
— |
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|
|
10,007 |
|
Municipal bonds |
|
1,015 |
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|
1 |
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(4 |
) |
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|
1,012 |
|
Total debt securities due after 1 year through 5 years |
|
366,361 |
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|
3,030 |
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|
(122 |
) |
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|
369,269 |
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Total available-for-sale debt securities |
|
651,230 |
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|
4,068 |
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|
|
(145 |
) |
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|
655,153 |
|
Total equity and debt securities |
$ |
666,231 |
|
|
$ |
4,068 |
|
|
$ |
(145 |
) |
|
$ |
670,154 |
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