The amortized cost and estimated fair value of marketable securities, by remaining contractual maturity, are as follows:


	September 30, 2026
(in thousands)	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value

Maturing in one year or less
Corporate bonds	$	84,419		—	$	(415	)	$	84,004
Yankee bonds		2,509		—		(16	)		2,493
U.S. Treasuries		147,676		—		(559	)		147,117
U.S. Treasury bills		55,623		—		(50	)		55,573
Maturing after one year through five years
Corporate bonds		24,692		—		(250	)		24,442
U.S. Treasuries		89,500		—		(555	)		88,945
Total	$	404,419	$	—	$	(1,845	)	$	402,574


	December 31, 2025
(in thousands)	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Fair Value

Maturing in one year or less
U.S. Treasuries	$	25,772	$	16	$	—	$	25,788
U.S. Treasury bills		13,636		6		—		13,642
Maturing after one year through five years
U.S. Treasuries		19,273		19		—		19,292
Total	$	58,681	$	41	$	—	$	58,722

The following table presents the fair value of the Company’s securities that were in an unrealized loss position as of September 30, 2026, and the total unrealized loss by each type of security. The Company did not record any impairments to marketable securities or reserves for credit losses related to its marketable debt securities during the periods presented. There were no securities in an unrealized loss position as of December 31, 2025.


	September 30, 2026
	Less than twelve months					Greater than twelve months				Total
(in thousands)	Fair value		Unrealized loss			Fair value		Unrealized loss		Fair value		Unrealized loss
Corporate bonds	$	108,446	$	(665	)		—		—	$	108,446	$	(665	)
U.S. Treasury bills		55,573		(50	)		—		—		55,573		(50	)
U.S. Treasuries		236,062		(1,114	)		—		—		236,062		(1,114	)
Yankee bonds		2,493		(16	)		—		—		2,493		(16	)
Total	$	402,574	$	(1,845	)	$	—	$	—	$	402,574	$	(1,845	)