4. Short-term Investments

As of June 30, 2026, short-term investments of $0.9 million were comprised of term deposits, earning interest of 2.61% and maturing on March 9, 2027. These short-term investments were in scope of ASC 320, Investments-Debt Securities. The short-term investments maturity is greater than 90 days but less than one year, and they were classified as held to maturity, recorded as current assets and were accounted for at amortized cost. Interest income earned on short-term investments is reported in interest income. The Company had short-term investments of $32.9 million as of December 31, 2025.

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As of June 30, 2026, $0.9 million in short-term investments were pledged as collateral for a letter of credit.

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