v3.26.1
MARKETABLE SECURITIES
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES

The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of our marketable securities by type of security as of June 30, 2026 and December 31, 2025 was as follows:
JUNE 30, 2026
(in thousands)Fair Value Hierarchy LevelAmortized CostGross Unrealized Holding GainsGross Unrealized Holding Losses Fair Value
Cash and cash equivalents Level 1$65,981 $— $— $65,981 
$65,981 $— $— $65,981 
DECEMBER 31, 2025
(in thousands)Fair Value Hierarchy LevelAmortized CostGross Unrealized Holding GainsGross Unrealized Holding Losses Fair Value
Cash and cash equivalentsLevel 1$6,695 $— $— $6,695 
U.S. treasury securitiesLevel 119,212 17 — 19,229 
U.S. government agency securitiesLevel 24,630 1 — 4,631 
$30,537 $18 $— $30,555 
The fair values of marketable securities by classification in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025 was as follows:
(in thousands)JUNE 30, 2026DECEMBER 31, 2025
Cash and cash equivalents$65,981 $7,193 
Marketable securities— 23,362 
$65,981 $30,555 
The fair values of available-for-sale debt securities as of June 30, 2026 and December 31, 2025, by contractual maturity, are summarized as follows:
(in thousands)JUNE 30, 2026DECEMBER 31, 2025
Due in one year or less$65,981 $30,555 
$65,981 $30,555 
The aggregate fair value of available-for-sale debt securities in an unrealized loss position as of December 31, 2025 was $0.7 million. There was no aggregate fair value of available-for-sale debt securities in an unrealized loss position as of June 30, 2026. As of June 30, 2026, the Company did not have any investments in a continuous unrealized loss position for more than twelve months. No allowance for credit loss was recorded as of June 30, 2026 and December 31, 2025.