v3.26.1
Available-For-Sale Debt Securities
6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Available-For-Sale Debt Securities Available-For-Sale Debt Securities
The following table summarizes available-for sale debt securities held by the Company as of June 30, 2026:
Remaining
Maturity
Contractual
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
U.S. Treasuries
< 1 year
$355,438 $$(496)$354,942 
1 - 3 years
191,155 (1,687)189,468 
3 - 5 years
Corporate debt securities
< 1 year
406,919 133 (718)406,334 
1 - 3 years
170,896 (1,035)169,862 
3 - 5 years
Certificates of Deposits
< 1 year
3,748 (4)3,744 
1 - 3 years
499 499 
3 - 5 years
Asset-Backed Securities
< 1 year
1 - 3 years
7,496 (43)7,453 
3 - 5 years
2,015 (13)2,002 
Total available-for-sale debt securities$1,138,166 $134 $(3,996)$1,134,304 
The Company may from time to time sell its available-for-sale debt securities. There were $112 thousand and $128 thousand in realized gains on sales of available-for-sale debt securities for the three and six months ended June 30, 2026, respectively. The realized gains on available-for-sale debt securities related to investments purchased during the three and six months ended June 30, 2026. Therefore, there were no amounts reclassified out of accumulated other comprehensive loss, net of tax during the three and six months ended June 30, 2026. The Company’s investment portfolio includes callable securities that may be called prior to maturity.
The aggregated net unrealized loss on available-for-sale debt securities in the amount of $3.9 million has been recorded in accumulated other comprehensive loss in the Company’s condensed consolidated balance sheet as of June 30, 2026.