v3.26.1
SHORT-TERM INVESTMENTS
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS

NOTE 4 – SHORT-TERM INVESTMENTS

 

The following table provides a summary of the short-term investments (in thousands):

 

   June 30, 2026 
   Amortized Cost  

Gross

Unrealized

Gain

  

Gross

Unrealized

Loss

   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $17,232    —    (14)  $17,218 
U.S. federal agency securities   4,444    —    (22)   4,422 
Certificates of deposit   69,000    —    (43)   68,957 
Total available-for-sale, short-term investments  $90,676    —    (79)  $90,597 

 

   December 31, 2025 
  

Amortized

Cost

  

Gross

Unrealized

Gain

  

Gross

Unrealized

Loss

   Fair Value 
                 
Available-for-sale, short-term investments:                    
U.S. treasury securities  $25,057    31    —   $25,088 
U.S. federal agency securities   17,772    2    —    17,774 
Certificates of deposit   70,000    105    —    70,105 
Total available-for-sale, short-term investments  $112,829    138    —   $112,967 

 

As of June 30, 2026, the available-for-sale securities classified as short-term investments mature in one year or less. The Company carries its available-for-sale securities at fair value in the condensed consolidated balance sheets. Unrealized losses on available-for-sale securities as of June 30, 2026, were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. None of the short-term investments have been in a continuous unrealized loss position for more than 12 months. Accordingly, no other-than-temporary impairment was recorded for the three and six months ended June 30, 2026.

 

There were no significant realized gains or losses recognized on the sale or maturity of available-for-sale investments during the three and six months ended June 30, 2026 or 2025.