Short-term marketable securities and certain cash equivalents consist of investments in debt securities that are classified as available-for-sale. In the first quarter of 2026, the Company sold all of its marketable securities. The associated realized gain was not significant. The amortized cost, gross unrealized gains and losses, and fair value of those investments as of December 31, 2025 were as follows (in thousands):


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:
U.S. government securities	$	215	$	—	$	—	$	215
Commercial paper	554		—		—		554
Total cash equivalents	769		—		—		769
Short-term marketable securities:
Certificates of deposit	3,662		—		—		3,662
Commercial paper	3,522		—		—		3,522
Corporate bonds	41,248		96		(5)		41,339
Agency bonds	1,240		1		—		1,241
U.S. government securities	53,388		139		(1)		53,526
Total short-term marketable securities	103,060		236		(6)		103,290



Total	$	103,829	$	236	$	(6)	$	104,059

The following table presents gross unrealized losses and fair values for those securities that were in an unrealized loss position as of December 31, 2025, aggregated by investment category and the length of time that the individual securities had been in a continuous loss position (in thousands):












	December 31, 2025
	Less Than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss


Corporate bonds	$	7,148	$	(5)	$	—	$	—	$	7,148	$	(5)

U.S. government securities	3,608		(1)		—		—		3,608		(1)
Total	$	10,756	$	(6)	$	—	$	—	$	10,756	$	(6)

For the six months ended June 30, 2026 and 2025, the Company did not recognize any credit loss related to available-for-sale marketable securities.