| Summary of Marketable Securities Accounted for Available-for-Sale Securities |
The following tables summarize the Company’s marketable securities accounted for as available-for-sale securities (in thousands, except years):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Maturity |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Estimated |
|
|
|
(in years) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
US treasury securities |
|
1 or less |
|
$ |
96,795 |
|
|
$ |
32 |
|
|
$ |
(207 |
) |
|
$ |
96,620 |
|
US government agency securities |
|
1 or less |
|
|
47,830 |
|
|
|
5 |
|
|
|
(38 |
) |
|
|
47,797 |
|
Corporate debt securities |
|
1 or less |
|
|
12,594 |
|
|
|
— |
|
|
|
(29 |
) |
|
|
12,565 |
|
Commercial paper |
|
1 or less |
|
|
69,365 |
|
|
|
— |
|
|
|
(151 |
) |
|
|
69,214 |
|
US treasury securities |
|
1-2 |
|
|
88,260 |
|
|
|
— |
|
|
|
(630 |
) |
|
|
87,630 |
|
US government agency securities |
|
1-2 |
|
|
28,134 |
|
|
|
— |
|
|
|
(231 |
) |
|
|
27,903 |
|
Total |
|
|
|
$ |
342,978 |
|
|
$ |
37 |
|
|
$ |
(1,286 |
) |
|
$ |
341,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Maturity |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Estimated |
|
|
|
(in years) |
|
cost |
|
|
gains |
|
|
losses |
|
|
fair value |
|
US treasury securities |
|
1 or less |
|
$ |
99,640 |
|
|
$ |
274 |
|
|
$ |
— |
|
|
$ |
99,914 |
|
US government agency securities |
|
1 or less |
|
|
74,345 |
|
|
|
218 |
|
|
|
— |
|
|
|
74,563 |
|
Commercial paper |
|
1 or less |
|
|
27,769 |
|
|
|
24 |
|
|
|
— |
|
|
|
27,793 |
|
US treasury securities |
|
1-2 |
|
|
47,725 |
|
|
|
55 |
|
|
|
— |
|
|
|
47,780 |
|
US government agency securities |
|
1-2 |
|
|
17,884 |
|
|
|
57 |
|
|
|
— |
|
|
|
17,941 |
|
Total |
|
|
|
$ |
267,363 |
|
|
$ |
628 |
|
|
$ |
— |
|
|
$ |
267,991 |
|
|
| Summary of Fair Values and Gross Unrealized Losses for Available-for-sale Securities |
The following table presents fair values and gross unrealized losses for those available-for-sale securities that were in an unrealized loss position as of June 30, 2026, aggregated by category and the length of time that the securities have been in a continuous loss position (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Unrealized losses less than 12 months |
|
|
Unrealized losses 12 months or greater |
|
|
Total |
|
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
|
Fair value |
|
|
Unrealized losses |
|
US treasury securities |
|
$ |
150,686 |
|
|
$ |
(837 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
150,686 |
|
|
$ |
(837 |
) |
US government agency securities |
|
|
56,201 |
|
|
|
(269 |
) |
|
|
— |
|
|
|
— |
|
|
|
56,201 |
|
|
|
(269 |
) |
Corporate debt securities |
|
|
12,565 |
|
|
|
(29 |
) |
|
|
— |
|
|
|
— |
|
|
|
12,565 |
|
|
|
(29 |
) |
Commercial paper |
|
|
69,214 |
|
|
|
(151 |
) |
|
|
— |
|
|
|
— |
|
|
|
69,214 |
|
|
|
(151 |
) |
Total |
|
$ |
288,666 |
|
|
$ |
(1,286 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
288,666 |
|
|
$ |
(1,286 |
) |
|