Investments, Debt and Equity Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Unrealized Gain (Loss) on Investments [Table Text Block] |
The amortized cost, gross unrealized holding gains and losses, and estimated fair value of long-term and short-term investments by major security type and class of security were as follows as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Amortized
Cost | | Gross
Unrealized
Holding
Gains | | Gross
Unrealized
Holding
Losses | | Fair
Value | | | As of June 30, 2026 | | | | | | | | | | Long-term investments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Held-to-maturity investments | | | | | | | | | | U.S. treasury securities | $ | 989 | | | $ | — | | | $ | (4) | | | $ | 985 | | | | $ | 989 | | | $ | — | | | $ | (4) | | | $ | 985 | | | | Short-term investments: | | | | | | | | | | Available-for-sale investments | | | | | | | | | | U.S. treasury securities | $ | 96,265 | | | $ | 5 | | | $ | (869) | | | $ | 95,401 | | | | Mortgage-backed securities and collateralized mortgage obligations | 24,118 | | | 51 | | | (98) | | | 24,071 | | | | Other asset-backed securities | 26,664 | | | 44 | | | (46) | | | 26,662 | | | | | | | | | | | | | Corporate bonds | 57,441 | | | 92 | | | (261) | | | 57,272 | | | | $ | 204,488 | | | $ | 192 | | | $ | (1,274) | | | $ | 203,406 | | | | Held-to-maturity investments | | | | | | | | | | U.S. treasury securities | $ | 9,694 | | | $ | — | | | $ | (22) | | | $ | 9,672 | | | | Foreign treasury securities | 35,506 | | | 21 | | | (3) | | | 35,524 | | | | Certificates of deposit | 525 | | | — | | | — | | | 525 | | | | | | | | | | | | | $ | 45,725 | | | $ | 21 | | | $ | (25) | | | $ | 45,721 | | |
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Cost | | Gross
Unrealized
Holding
Gains | | Gross
Unrealized
Holding
Losses | | Fair
Value | | As of December 31, 2025 | | | | | | | | | | Long-term investments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Held-to-maturity investments | | | | | | | | | | U.S. treasury securities | | $ | 983 | | | $ | 5 | | | $ | — | | | $ | 988 | | | | $ | 983 | | | $ | 5 | | | $ | — | | | $ | 988 | | | Short-term investments: | | | | | | | | | | Available-for-sale investments | | | | | | | | | | U.S. treasury securities | | $ | 103,643 | | | $ | 523 | | | $ | (8) | | | $ | 104,158 | | | Mortgage-backed securities and collateralized mortgage obligations | | 24,501 | | | 201 | | | (15) | | | 24,687 | | | Other asset-backed securities | | 23,685 | | | 152 | | | — | | | 23,837 | | | | | | | | | | | | Corporate bonds | | 47,311 | | | 527 | | | (3) | | | 47,835 | | | | $ | 199,140 | | | $ | 1,403 | | | $ | (26) | | | $ | 200,517 | | | Held-to-maturity investments | | | | | | | | | | U.S. treasury securities | | $ | 9,757 | | | $ | 10 | | | $ | — | | | $ | 9,767 | | | Foreign treasury securities | | 18,263 | | | — | | | — | | | 18,263 | | | Certificates of deposit | | 4,169 | | | — | | | — | | | 4,169 | | | | | | | | | | | | | $ | 32,189 | | | $ | 10 | | | $ | — | | | $ | 32,199 | |
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| Investments Classified by Contractual Maturity Date [Table Text Block] |
Future maturities of investments classified as available-for-sale and held-to-maturity are as follows (in thousands): | | | | | | | | | | | | | As of June 30, 2026 | | Amortized
Cost | | Fair
Value | | Available-for-sale: | | | | | Due under one year | $ | 475 | | | $ | 479 | | | Due after one year through five years | 153,231 | | | 152,194 | | | Due after five years through ten years | — | | | — | | | Due after ten years | — | | | — | | | $ | 153,706 | | | $ | 152,673 | | | Available-for-sale collateralized: | | | | | Due under one year | $ | 8,315 | | | $ | 8,341 | | | Due after one year through five years | 31,624 | | | 31,605 | | | Due after five years through ten years | 10,636 | | | 10,573 | | | Due after ten years | 207 | | | 214 | | | $ | 50,782 | | | $ | 50,733 | | | Held-to-maturity: | | | | | Due under one year | $ | 45,725 | | | $ | 45,721 | | | Due after one year through five years | 989 | | | 985 | | | $ | 46,714 | | | $ | 46,706 | |
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| Marketable Securities |
The following tables present the gross unrealized losses and related fair values for the Company's investment in available-for-sale securities, grouped by duration of time in a continuous unrealized loss position as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | Fair Value | | Gross Unrealized Loss | | Fair Value | | Gross Unrealized Loss | | Fair Value | | Gross Unrealized Loss | | As of June 30, 2026 | | | | | | | | | | | | | U.S. treasury securities | $ | 91,412 | | | $ | (869) | | | $ | — | | | $ | — | | | $ | 91,412 | | | $ | (869) | | | Mortgage-backed securities and collateralized mortgage obligations | 14,773 | | | (79) | | | 796 | | | (19) | | | 15,569 | | | (98) | | | Other asset-backed securities | 9,721 | | | (46) | | | — | | | — | | | 9,721 | | | (46) | | | Corporate bonds | 36,798 | | | (261) | | | — | | | — | | | 36,798 | | | (261) | | | Total | $ | 152,704 | | | $ | (1,255) | | | $ | 796 | | | $ | (19) | | | $ | 153,500 | | | $ | (1,274) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | Fair Value | | Gross Unrealized Loss | | Fair Value | | Gross Unrealized Loss | | Fair Value | | Gross Unrealized Loss | | As of December 31, 2025 | | | | | | | | | | | | | U.S. treasury securities | $ | 5,139 | | | $ | (8) | | | $ | — | | | $ | — | | | $ | 5,139 | | | $ | (8) | | | Mortgage-backed securities and collateralized mortgage obligations | 2,893 | | | (3) | | | 967 | | | (12) | | | 3,860 | | | (15) | | | Other asset-backed securities | — | | | — | | | — | | | — | | | — | | | — | | | Corporate bonds | 2,700 | | | (3) | | | — | | | — | | | 2,700 | | | (3) | | | Total | $ | 10,732 | | | $ | (14) | | | $ | 967 | | | $ | (12) | | | $ | 11,699 | | | $ | (26) | |
As of June 30, 2026, 109 of the securities held were in an unrealized loss position. Unrealized losses on available-for-sale investments relate to interest rate changes. The Company does not expect material credit losses from its available-for-sale investments, considering the composition of the investment portfolio and the credit rating of these investments. The Company determined it is not likely to, and does not intend to, sell securities currently in a loss position prior to a potential recovery of their cost basis. The Company does not expect material credit losses from its held-to-maturity investments, considering the composition of the investment portfolio and the credit loss history of these investments.
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