v3.26.3
Marketable Securities (Tables)
 9 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of reconciliation of available-for-sale debt securities from amortized cost to fair value
The amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of debt securities available-for-sale by type of security at September 30, 2026 and December 31, 2025 were as follows:
Amortized CostAllowance for Credit LossesNet Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
September 30, 2026
Debt securities
U.S. treasury bills
$14,989 $— $14,989 $— $— $14,989 
U.S. treasury notes50,407 — 50,407 — (25)50,382 
Total $65,396 $— $65,396 $— $(25)$65,371 
December 31, 2025
Debt securities
U.S. treasury bills
114,109 — 114,109 61 — 114,170 
Total$114,109 $— $114,109 $61 $— $114,170 
The fair values of debt securities available-for-sale by classification in the condensed consolidated balance sheets were as follows:
September 30, 2026December 31, 2025
Cash and cash equivalents$— $24,990 
Marketable securities65,371 89,180 
Total$65,371 $114,170 
Schedule of available-for-sale debt securities by contractual maturity
The net amortized cost and fair value of debt securities available-for-sale at September 30, 2026 and December 31, 2025 are shown below by contractual maturity. Actual maturities may differ from contractual maturities because securities may be restructured, called or prepaid, or if the Company intends to sell a security prior to maturity.
September 30, 2026December 31, 2025
Net Amortized CostFair ValueNet Amortized CostFair Value
Due to mature:
Less than one year$65,396 $65,371 $114,109 $114,170 
Summary of debt securities available-for-sale in an unrealized loss position, aggregated by the length of time Summarized below are the debt securities available-for-sale the Company held at September 30, 2026 that were in an unrealized loss position, aggregated by the length of time the investments have been in that position:
Less than 12 months
Number of SecuritiesFair ValueUnrealized Losses
September 30, 2026
Debt securities
U.S. treasury bills1 $14,989 $— 
U.S. treasury notes4 50,382 (25)
Total5$65,371 $(25)
Schedule of net investment income Net investment income included in other (expense) income, net in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2026 and 2025 was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Debt securities
$1,142 $2,153 $3,943 $8,457 
Other investments
822 1,299 4,004 3,432 
Gross investment income
1,964 3,452 7,947 11,889 
Investment expenses
(22)(42)(72)(120)
Net investment income$1,942 $3,410 $7,875 $11,769