v3.26.1
Investments
6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The following table represents the Company’s available-for-sale investments by major security type (amounts in thousands):
June 30, 2026
Amortized
Cost
Gross Unrealized LossTotal Fair Value
Investments:
U.S. government securities$145,067 $(63)$145,004 
Cash equivalents:
U.S. government securities41,445 — 41,445 
Money market fund20,753 — 20,753 
Total$207,265 $(63)$207,202 
December 31, 2025
Amortized
Cost
Gross Unrealized GainTotal Fair Value
Investments:
U.S. government securities$23,867 $$23,873 
Cash equivalents:
Money market fund52,270 — 52,270 
Total $76,137 $$76,143 
The Company's money market funds are calculated using Level 1 inputs and the Company's U.S. government securities are valued using Level 2 inputs. U.S. government securities outstanding as of December 31, 2025 matured in January 2026. There were no impairments of U.S. government securities or money market funds for the three and six months ended June 30, 2026 and the year ended December 31, 2025.
The Company has a related party investment in a private company’s preferred stock. The Company did not identify any impairment indicators or observable price changes for this investment as of June 30, 2026. The Company had no other investments held at June 30, 2026 other than those included in the table above.