v3.26.1
Cash, Cash Equivalents and Marketable Securities
 6 Months Ended
Jun. 30, 2026
Investments, All Other Investments [Abstract]  
Cash, Cash Equivalents and Marketable Securities Cash, Cash Equivalents and Marketable Securities
The following table summarizes the Company’s marketable securities as of June 30, 2026:

June 30, 2026
Amortized CostUnrealized Loss Fair Value
Short-term marketable securities:
Contractual maturity of one year or less:
Guaranteed investment certificates (“GICs”) and mutual funds
$22,366 $— $22,366 
U.S. Treasury notes— — — 
Corporate debt securities68,943 (23)68,920 
91,309 (23)91,286 
Long-term marketable securities:
Contractual maturity of one to three years:
Corporate debt securities51,789 (12)51,777 
51,789 (12)51,777 
$143,098 $(35)$143,063 

The following table summarizes the Company’s marketable securities as of December 31, 2025:
December 31, 2025
Amortized Cost
Unrealized Gain
Fair Value
Short-term marketable securities:
Contractual maturity of one year or less:
GICs and mutual funds
$21,920 $— $21,920 
U.S. Treasury notes41,263 36 41,299 
Corporate debt securities124,272 149 124,421 
187,455 185 187,640 
Long-term marketable securities:
Contractual maturity of one to three years:
Corporate debt securities41,388 399 41,787 
41,388 399 41,787 
$228,843 $584 $229,427 
The unrealized losses on the Company’s available-for-sale securities as of June 30, 2026 and December 31, 2025 were not material and were caused by fluctuations in market values and interest rates as a result of the economic environment. The Company concluded that an allowance for credit losses was unnecessary as of June 30, 2026 and December 31, 2025 because the decline in the market value was attributable to changes in market conditions and not credit quality, and that it is neither management’s intention to sell nor is it more likely than not that the Company will be required to sell these investments prior to
recovery of their cost basis or recovery of fair value. There was no material realized gain or loss on available-for-sale securities in the periods presented.
The following tables present information about the Company’s cash, cash equivalents and marketable securities that are measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques used to determine such fair value:
June 30,
2026		December 31,
2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3
Total
Cash and cash equivalents:
Cash$19,081 $8,968 
Cash equivalents:
Money market funds and mutual funds
$160,332 $— $— $160,332 $32,189 $— $— $32,189 
$160,332 $— $— $179,413 $32,189 $— $— $41,157 
Marketable securities:
GICs and mutual funds
$22,366 $— $— $22,366 $21,920 $— $— $21,920 
U.S. Treasury notes
— — — — 41,299 — — 41,299 
Corporate debt securities— 120,697 — 120,697 — 166,208 — 166,208 
$22,366 $120,697 $— $143,063 $63,219 $166,208 $— $229,427 
$182,698 $120,697 $— $322,476 $95,408 $166,208 $— $270,584