v3.26.1
Short-Term Investments
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Short-Term Investments

3. Short-Term Investments

Short-term investments classified as available-for-sale consisted of the following:

 

 

June 30, 2026

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

 

12,729

 

 

 

—

 

 

 

12,729

 

Total short-term investments

 

$

12,729

 

 

$

—

 

 

$

12,729

 

 

 

 

December 31, 2025

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Fair Value

 

Short-term investments:

 

 

 

 

 

 

 

 

 

US treasuries

 

$

1,779

 

 

$

2

 

 

$

1,781

 

Commercial paper

 

 

8,986

 

 

 

6

 

 

 

8,992

 

Certificates of deposit

 

 

6,480

 

 

 

9

 

 

 

6,489

 

Total short-term investments

 

$

17,245

 

 

$

17

 

 

$

17,262

 

All short-term investments had stated maturity dates of less than one year. Included in the amortized cost as of June 30, 2026 and December 31, 2025 is net accumulated accretion of nil and $0.3 million, respectively. Interest accretion on short-term investments was $0.1 million and $0.8 million during the three months ended June 30, 2026 and 2025, respectively, and $0.3 million and $1.9 million during the six months ended June 30, 2026 and 2025, respectively.