6. Investments The Company's available-for-sale investments consisted of the following (in thousands):
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June 30, 2026 |
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Amortized
Cost |
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Unrealized
Gains |
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Unrealized
Losses |
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Estimated
Fair Value |
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Short-term |
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U.S. treasury securities |
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$ |
227,546 |
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$ |
41 |
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$ |
(309 |
) |
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$ |
227,278 |
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Short-term investments |
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$ |
227,546 |
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|
$ |
41 |
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|
$ |
(309 |
) |
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$ |
227,278 |
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Long-term |
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U.S. treasury securities |
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$ |
123,549 |
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|
$ |
— |
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|
$ |
(750 |
) |
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$ |
122,799 |
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Long-term investments |
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$ |
123,549 |
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|
$ |
— |
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|
$ |
(750 |
) |
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$ |
122,799 |
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December 31, 2025 |
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Short-term |
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U.S. treasury securities |
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$ |
235,263 |
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|
$ |
556 |
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|
$ |
— |
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|
$ |
235,819 |
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Short-term investments |
|
$ |
235,263 |
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|
$ |
556 |
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|
$ |
— |
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$ |
235,819 |
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Long-term |
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U.S. treasury securities |
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$ |
110,532 |
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|
$ |
234 |
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|
$ |
(4 |
) |
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$ |
110,762 |
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Long-term investments |
|
$ |
110,532 |
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|
$ |
234 |
|
|
$ |
(4 |
) |
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$ |
110,762 |
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The Company has determined that there were no material declines in fair value of its investments due to credit-related factors as of June 30, 2026 and December 31, 2025. Credit loss is limited due to the nature of the investments.
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