Amortized cost and estimated fair market value of investments classified as available-for-sale (excluding cash equivalents) at June 30, 2026, were as follows:


	Amortized Cost		Gross Unrealized				Estimated Fair Market Value
(In thousands)			Gains		Losses
Investments due in 3 months or less:

Corporate securities	$	10,656	$	15	$	—	$	10,671
Total	10,656		15		—		10,671
Investments due in 4-12 months:
Corporate securities	87,107		371		(2)		87,476
Total	87,107		371		(2)		87,476
Investments due in 12 months or greater:
Corporate securities	94,075		106		(327)		93,854
Total	94,075		106		(327)		93,854
Total investments	$	191,838	$	492	$	(329)	$	192,001

Accrued interest receivable was $2.3 million at June 30, 2026, and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet.

Amortized cost and estimated fair market value of investments classified as available-for-sale (excluding cash equivalents) at December 31, 2025, were as follows:


	Amortized Cost		Gross Unrealized				Estimated Fair Market Value
(In thousands)			Gains		Losses
Investments due in 3 months or less:
Commercial paper	$	1,498	$	—	$	—	$	1,498
Corporate securities	8,152		8		—		8,160
Total	9,650		8		—		9,658
Investments due in 4-12 months:
Corporate securities	32,256		267		—		32,523
Total	32,256		267		—		32,523
Investments due in 12 months or greater:
Corporate securities	146,910		1,665		(1)		148,574
Total	146,910		1,665		(1)		148,574
Total investments	$	188,816	$	1,940	$	(1)	$	190,755

Accrued interest receivable was $2.3 million at December 31, 2025, and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet.

The following table summarizes investments classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at June 30, 2026:


	Less Than 12 Months				12 Months or Longer				Total
(In thousands)	Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses

Corporate securities	$	52,066	$	(329)	$	—	$	—	$	52,066	$	(329)
Total investments	$	52,066	$	(329)	$	—	$	—	$	52,066	$	(329)

In the three and six months ended June 30, 2026 and 2025, no unrealized losses on investments were recognized in the condensed consolidated statements of income. The Company does not intend to sell, and it is unlikely that it will be required to sell the securities held prior to their anticipated recovery. The issuers are high-quality (investment grade) and the decline in fair value is largely due to changes in interest rates. Additionally, the issuers continue to make timely interest payments on the investments with the fair value expected to recover as they reach maturity.