Cash, Cash Equivalents and Marketable Securities (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Cash and Cash Equivalents [Abstract] |
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| Schedule of Cash and Cash Equivalents |
The Company’s cash and cash equivalents as of September 30, 2026 and December 31, 2025, were as follows (in thousands):
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September 30, |
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December 31, |
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2026 |
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2025 |
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Cash and cash equivalents: |
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|
|
|
Cash |
|
$ |
1,050 |
|
|
$ |
1,816 |
|
Money market funds |
|
|
2,936 |
|
|
|
2,128 |
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Total cash and cash equivalents |
|
$ |
3,986 |
|
|
$ |
3,944 |
|
|
| Schedule of Marketable Securities by Major Security Type |
The Company’s marketable securities by major security type as of September 30, 2026 and December 31, 2025, were as follows (in thousands):
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September 30, 2026 |
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Amortized Cost |
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Gross Unrealized Gains |
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Gross Unrealized Losses |
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Fair Value |
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Current marketable securities: |
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|
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|
|
|
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Corporate debt securities |
|
|
31,619 |
|
|
|
1 |
|
|
|
(44 |
) |
|
|
31,576 |
|
U.S. federal agency securities |
|
|
2,987 |
|
|
|
— |
|
|
|
(13 |
) |
|
|
2,974 |
|
Municipal debt securities |
|
|
5,578 |
|
|
|
— |
|
|
|
(25 |
) |
|
|
5,553 |
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Total current marketable securities |
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|
40,184 |
|
|
|
1 |
|
|
|
(82 |
) |
|
|
40,103 |
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Long-term marketable securities: |
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|
|
|
|
|
|
|
|
|
|
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Corporate debt securities |
|
|
28,928 |
|
|
|
3 |
|
|
|
(190 |
) |
|
|
28,741 |
|
Total long-term marketable securities |
|
|
28,928 |
|
|
|
3 |
|
|
|
(190 |
) |
|
|
28,741 |
|
Total marketable securities |
|
$ |
69,112 |
|
|
$ |
4 |
|
|
$ |
(272 |
) |
|
$ |
68,844 |
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|
|
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December 31, 2025 |
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|
|
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Fair Value |
|
Current marketable securities: |
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|
|
|
|
|
|
|
|
|
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Commercial paper |
|
$ |
975 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
975 |
|
Corporate debt securities |
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|
31,128 |
|
|
|
83 |
|
|
|
— |
|
|
|
31,211 |
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Municipal debt securities |
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|
3,070 |
|
|
|
1 |
|
|
|
— |
|
|
|
3,071 |
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Total current marketable securities |
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|
35,173 |
|
|
|
84 |
|
|
|
— |
|
|
|
35,257 |
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Long-term marketable securities: |
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|
|
|
|
|
|
|
|
|
|
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Corporate debt securities |
|
|
44,926 |
|
|
|
160 |
|
|
|
(8 |
) |
|
|
45,078 |
|
Municipal debt securities |
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|
5,607 |
|
|
|
24 |
|
|
|
— |
|
|
|
5,631 |
|
U.S. federal agency securities |
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|
5,868 |
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|
2 |
|
|
|
— |
|
|
|
5,870 |
|
Total long-term marketable securities |
|
|
56,401 |
|
|
|
186 |
|
|
|
(8 |
) |
|
|
56,579 |
|
Total marketable securities |
|
$ |
91,574 |
|
|
$ |
270 |
|
|
$ |
(8 |
) |
|
$ |
91,836 |
|
|
| Schedule of Available-for-sale Debt Securities in Unrealized Loss Positions |
The following tables summarize the Company’s available-for-sale debt securities with unrealized losses as of September 30, 2026 and December 31, 2025, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in thousands):
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September 30, 2026 |
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Less than 12 months |
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12 months or greater |
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Total |
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Fair Value |
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Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
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|
Unrealized Losses |
|
Corporate debt securities |
|
$ |
46,101 |
|
|
$ |
(234 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
46,101 |
|
|
$ |
(234 |
) |
U.S. federal agency securities |
|
|
— |
|
|
|
— |
|
|
|
2,974 |
|
|
|
(13 |
) |
|
|
2,974 |
|
|
|
(13 |
) |
Municipal debt securities |
|
|
5,553 |
|
|
|
(25 |
) |
|
|
— |
|
|
|
— |
|
|
|
5,553 |
|
|
|
(25 |
) |
Total |
|
$ |
51,654 |
|
|
$ |
(259 |
) |
|
$ |
2,974 |
|
|
$ |
(13 |
) |
|
$ |
54,628 |
|
|
$ |
(272 |
) |
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December 31, 2025 |
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Less than 12 months |
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|
12 months or greater |
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Total |
|
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
Corporate debt securities |
|
$ |
13,362 |
|
|
$ |
(8 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
13,362 |
|
|
$ |
(8 |
) |
Total |
|
$ |
13,362 |
|
|
$ |
(8 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
13,362 |
|
|
$ |
(8 |
) |
|
| Schedule of Marketable Securities Classified by Contractual Maturities |
The Company’s marketable securities classified by contractual maturities as of September 30, 2026, were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Amortized Cost |
|
|
Fair Value |
|
Due within one year |
|
$ |
40,184 |
|
|
$ |
40,103 |
|
Due after one year through five years |
|
|
28,928 |
|
|
|
28,741 |
|
Total |
|
$ |
69,112 |
|
|
$ |
68,844 |
|
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