| Summary of Investment Portfolio |
The following is a summary of the Company’s investment portfolio (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
|
Amortized Cost |
|
|
Unrealized gains |
|
|
Unrealized losses |
|
|
Fair value |
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
Current marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S treasury securities |
|
$ |
111,481 |
|
|
$ |
2 |
|
|
$ |
(122 |
) |
|
$ |
111,361 |
|
U.S. government-sponsored agency securities |
|
|
61,045 |
|
|
|
— |
|
|
|
(246 |
) |
|
|
60,799 |
|
Commercial paper |
|
|
3,939 |
|
|
|
— |
|
|
|
— |
|
|
|
3,939 |
|
Corporate debt securities |
|
|
178,051 |
|
|
|
5 |
|
|
|
(200 |
) |
|
|
177,856 |
|
Total |
|
$ |
354,516 |
|
|
$ |
7 |
|
|
$ |
(568 |
) |
|
$ |
353,955 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
|
|
Amortized Cost |
|
|
Unrealized gains |
|
|
Unrealized losses |
|
|
Fair value |
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
Current marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S treasury securities |
|
$ |
54,881 |
|
|
$ |
46 |
|
|
$ |
— |
|
|
$ |
54,927 |
|
U.S. government-sponsored agency securities |
|
|
61,310 |
|
|
|
25 |
|
|
|
(20 |
) |
|
|
61,315 |
|
Commercial paper |
|
|
8,904 |
|
|
|
3 |
|
|
|
— |
|
|
|
8,907 |
|
Corporate debt securities |
|
|
122,468 |
|
|
|
104 |
|
|
|
(1 |
) |
|
|
122,571 |
|
Total |
|
$ |
247,563 |
|
|
$ |
178 |
|
|
$ |
(21 |
) |
|
$ |
247,720 |
|
|
| Schedule of Fair Value of Company's Investments, by Contractual Maturity |
The following table shows the fair value of the Company’s investments, by contractual maturity, as of June 30, 2026 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
|
Due within one year |
|
|
Due after one year through five years |
|
|
Total |
|
Contractual Maturities: |
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
$ |
52,500 |
|
|
$ |
58,861 |
|
|
$ |
111,361 |
|
U.S. government-sponsored agency securities |
|
|
16,656 |
|
|
|
44,143 |
|
|
|
60,799 |
|
Commercial paper |
|
|
3,939 |
|
|
|
— |
|
|
|
3,939 |
|
Corporate debt securities |
|
|
84,653 |
|
|
|
93,203 |
|
|
|
177,856 |
|
Total |
|
$ |
157,748 |
|
|
$ |
196,207 |
|
|
$ |
353,955 |
|
The following table shows the fair value of the Company’s investments, by contractual maturity, as of December 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
|
|
Due within one year |
|
|
Due after one year through five years |
|
|
Total |
|
Contractual Maturities: |
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
$ |
49,893 |
|
|
$ |
5,034 |
|
|
$ |
54,927 |
|
U.S. government-sponsored agency securities |
|
|
10,045 |
|
|
|
51,270 |
|
|
|
61,315 |
|
Commercial paper |
|
|
8,907 |
|
|
|
— |
|
|
|
8,907 |
|
Corporate debt securities |
|
|
60,659 |
|
|
|
61,912 |
|
|
|
122,571 |
|
Total |
|
$ |
129,504 |
|
|
$ |
118,216 |
|
|
$ |
247,720 |
|
|