Investments in cash equivalents and marketable securities consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gain(1) | | Gross Unrealized Loss(1) | | Fair Value | | As of June 30, 2026 | (in thousands) | | Cash equivalents | | | | | | | | | Money market funds | $ | 6,914 | | | $ | — | | | $ | — | | | $ | 6,914 | | | US treasury bills | $ | 1,987 | | | $ | — | | | $ | — | | | $ | 1,987 | | | Total | $ | 8,901 | | | $ | — | | | $ | — | | | $ | 8,901 | | | Investments in marketable short-term securities | | | | | | | | | | | | | | | | | | | | | | | | | US treasury bills | 37,512 | | | 1 | | | (30) | | | 37,483 | | | | | | | | | | | US government bonds | 36,001 | | | — | | | (30) | | | 35,971 | | | Total | $ | 73,513 | | | $ | 1 | | | $ | (60) | | | $ | 73,454 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) Gross unrealized gain (loss) is pre-tax and is reported in accumulated other comprehensive income (loss).
| | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gain(1) | | Gross Unrealized Loss(1) | | Fair Value | | As of December 31, 2025 | (in thousands) | | Cash equivalents | | | | | | | | | Money market funds | $ | 10,218 | | | $ | — | | | $ | — | | | $ | 10,218 | | | Total | $ | 10,218 | | | $ | — | | | $ | — | | | $ | 10,218 | | | Investments in marketable short-term securities | | | | | | | | | | | | | | | | | | | | | | | | | US treasury bills | 37,411 | | | 41 | | | — | | | 37,452 | | | US government bonds | $ | 35,965 | | | $ | 46 | | | $ | — | | | $ | 36,011 | | | Total | $ | 73,376 | | | $ | 87 | | | $ | — | | | $ | 73,463 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) Gross unrealized gain (loss) is pre-tax and is reported in accumulated other comprehensive income (loss).
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