The amortized cost and fair value of investments are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair market value | | Assets | | | | | | | | | Money market funds | $ | 98,399 | | | $ | — | | | $ | — | | | $ | 98,399 | | | | | | | | | | | U.S. treasuries | 93,394 | | | 8 | | | (125) | | | 93,277 | | | Total | $ | 191,793 | | | $ | 8 | | | $ | (125) | | | $ | 191,676 | | | Classified as: | | | | | | | | | Cash equivalents | | | | | | | $ | 98,399 | | | Marketable securities | | | | | | | 93,277 | | | | | | | | | | | Total | | | | | | | $ | 191,676 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair market value | | Assets | | | | | | | | | Money market funds | $ | 14,410 | | | $ | — | | | $ | — | | | $ | 14,410 | | | | | | | | | | | U.S. treasuries | 124,059 | | | 208 | | | — | | | 124,267 | | | Total | $ | 138,469 | | | $ | 208 | | | $ | — | | | $ | 138,677 | | | Classified as: | | | | | | | | | Cash equivalents | | | | | | | $ | 14,410 | | | Marketable securities | | | | | | | 124,267 | | | | | | | | | | | Total | | | | | | | $ | 138,677 | | | | | | | | | |
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