v3.26.1
Investments
6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The Company's investments are classified as available-for-sale. The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of June 30, 2026:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate
Fair Value
U.S. government debt securities$18,908 $$(17)$18,893 
Certificates of deposit3,490 — (14)3,476 
Total$22,398 $$(31)$22,369 
The estimated fair value of available-for-sale investments classified by their contractual maturities as of June 30, 2026 was:
Due within one year
$21,879 
After one year through two years
490 
Total$22,369 
The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of December 31, 2025:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate
Fair Value
U.S. government debt securities$66,670 $36 $(30)$66,676 
Certificates of deposit3,397 — 3,398 
Corporate bonds
61 — — 61 
Total$70,128 $37 $(30)$70,135 
The estimated fair value of available-for-sale investments classified by their contractual maturities as of December 31, 2025 was:
Due within one year
$67,624 
After one year through two years
2,511 
Total$70,135 
In addition, as of June 30, 2026 and December 31, 2025, the Company held U.S. government debt securities valued at $11,084 and $19,083, respectively, which were included in cash and cash equivalents in the condensed consolidated balance sheet as these investments had an original maturity of less than three months when purchased.
Changes in market interest rates and bond yields cause certain investments to fall below their cost basis, resulting in unrealized losses on investments.