v3.26.3
Investments (Tables)
 9 Months Ended
Sep. 30, 2026
Schedule of Investments [Abstract]  
Schedule of Contractual Maturities of Investments

The contractual maturities of the Investments are summarized below (in thousands):

 

 

September 30, 2026

 

 

December 31, 2025

 

 

 

Available-for-Sale Investments

 

 

Available-for-Sale Investments

 

 

 

Amortized
Cost Basis

 

 

Aggregate
Fair Value

 

 

Amortized
Cost Basis

 

 

Aggregate
Fair Value

 

Due in one year or less(1)

 

$

85,004

 

 

$

84,916

 

 

$

132,732

 

 

$

132,836

 

Due after one year through five years

 

 

—

 

 

 

—

 

 

 

5,001

 

 

 

5,012

 

Total

 

$

85,004

 

 

$

84,916

 

 

$

137,733

 

 

$

137,848

 

 

The investments due in one year or less include cash equivalents of $29.6 million as of September 30, 2026 and $36.4 million as of December 31, 2025.
Schedule of Fair Value of Investments

The fair values of the Investments are disclosed below (dollars in thousands):

 

 

September 30, 2026

 

Available-for-Sale Investments

 

Investment Level

 

Amortized Cost
(Carrying Value)

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized
Holding Losses

 

 

Estimated
Fair Value

 

Money market funds

 

Level 1

 

$

27,587

 

 

$

—

 

 

$

—

 

 

$

27,587

 

Commercial bonds and paper

 

Level 2

 

 

31,332

 

 

 

—

 

 

 

(61

)

 

 

31,271

 

U.S. Treasury securities

 

Level 2

 

 

26,085

 

 

 

—

 

 

 

(27

)

 

 

26,058

 

Total cash equivalents and investments

 

 

 

 

85,004

 

 

 

—

 

 

 

(88

)

 

 

84,916

 

Less: cash equivalents

 

 

 

 

(29,583

)

 

 

—

 

 

 

—

 

 

 

(29,583

)

Total Investments

 

 

 

$

55,421

 

 

$

—

 

 

$

(88

)

 

$

55,333

 

 

 

 

December 31, 2025

 

Available-for-Sale Investments

 

Investment Level

 

Amortized Cost
(Carrying Value)

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized
Holding Losses

 

 

Estimated
Fair Value

 

Money market funds

 

Level 1

 

$

28,303

 

 

$

—

 

 

$

—

 

 

$

28,303

 

Commercial bonds and paper

 

Level 2

 

 

21,230

 

 

 

28

 

 

 

—

 

 

 

21,258

 

U.S. Treasury securities

 

Level 2

 

 

88,200

 

 

 

99

 

 

 

(12

)

 

 

88,287

 

Total cash equivalents and investments

 

 

 

 

137,733

 

 

 

127

 

 

 

(12

)

 

 

137,848

 

Less: cash equivalents

 

 

 

 

(36,372

)

 

 

—

 

 

 

—

 

 

 

(36,372

)

Total Investments

 

 

 

$

101,361

 

 

$

127

 

 

$

(12

)

 

$

101,476