As of June 30, 2026 and December 31, 2025, the Company has the following investments in available-for-sale debt securities, which are categorized as marketable securities: available-for-sale debt securities on the balance sheet depending on their maturity at acquisition (in thousands):


	June 30, 2026
	Remaining contractual maturity	Amortized cost		Gross unrealized gains		Gross unrealized losses		Aggregate estimated fair value
Marketable securities: available-for-sale debt securities:
Commercial paper	within 1 year	$	6,743	$	—	$	—	$	6,743
Corporate debt securities	within 1 year	13,468		2		(1)		13,469

United States Treasury Bills	within 1 year	10,003		2		(1)		10,004


Total		$	30,214	$	4	$	(2)	$	30,216


	December 31, 2025
	Remaining contractual maturity	Amortized cost		Gross unrealized gains		Gross unrealized losses		Aggregate estimated fair value
Marketable securities: available-for-sale debt securities:
Commercial paper	within 1 year	$	52,569	$	21	$	(1)	$	52,589
Corporate debt securities	within 1 year	58,226		74		(1)		58,299
United Kingdom Government Securities	within 1 year	66,162		12		—		66,174
United States Treasury Bills	within 1 year	19,466		50		—		19,516


Total		$	196,423	$	157	$	(2)	$	196,578

The number of securities held by the Company and aggregate fair value (in thousands) and in an unrealized loss position as of June 30, 2026 and December 31, 2025 are as follows (in thousands):


	June 30, 2026
	Number of securities held	Gross unrealized losses		Fair market value of investments in an unrealized loss position
Marketable securities: available-for-sale debt securities in a continuous loss position for less than 12 months:
Commercial paper	1	$	—	$	2,996
Corporate debt securities	1	(1)		4,475

United States Treasury Bills	1	(1)		5,003
Total	3	$	(2)	$	12,474


	December 31, 2025
	Number of securities held	Gross unrealized losses		Fair market value of investments in an unrealized loss position
Marketable securities: available-for-sale debt securities in a continuous loss position for less than 12 months:
Commercial paper	2	$	(1)	$	2,454
Corporate debt securities	2	(1)		7,000


Total	4	$	(2)	$	9,454

The aggregated net unrealized loss on available-for-sale debt securities in the amount of less than $0.1 million has been recognized in accumulated other comprehensive loss in the Company’s condensed consolidated balance sheet as of June 30, 2026.

At June 30, 2026, the Company held 3 marketable securities: available-for-sale debt securities out of its total investment portfolio that were in a continuous unrealized loss position. As of June 30, 2026, no allowance for expected credit losses has been recognized in relation to securities in an unrealized loss position. The related unrealized losses are not severe, have been for a short duration and are due to normal market, exchange rate fluctuations and all securities have an investment-grade credit rating. The Company neither intends to sell these investments nor has concluded that it will more-likely-than-not have to sell them before recovery of their carrying values. The Company also believes that it will be able to collect both principal and interest amounts due to the Company at maturity.

There were no amounts reclassified out of other comprehensive income (loss), net of tax during the three and six months ended June 30, 2026 and during the year ended December 31, 2025.