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Investments

6 Months Ended

Jun. 30, 2024

Investments

Investments

3. Investments

As of June 30, 2024 and December 31, 2023, the Company had investments of $100,498 and $98,031, respectively, classified as available-for-sale securities.

As of June 30, 2024, the Company had available-for-sale investments comprised of the following:

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As of June 30, 2024

​

​

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Gross

Gross

Estimated

​

​

Adjusted

​

Unrealized

​

Unrealized

​

Fair

​

​

Cost

​

Gains

​

(Losses)

​

Value

Corporate bonds

​

$

79,490

​

$

120

​

$

(271)

​

$

79,339

Treasury bills

​

​

6,179

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​

—

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​

—

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​

6,179

Agency bonds

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​

14,995

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—

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(15)

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​

14,980

Total investments

​

$

100,664

​

$

120

​

$

(286)

​

$

100,498

​

For the six months ended June 30, 2024 and 2023, the net unrealized losses were $69 and $157, respectively, net of taxes. Available-for-sale debt securities are carried at fair value on the consolidated balance sheets. The Company estimates the lifetime expected credit losses for all available-for sale debt securities in an unrealized loss position. If our assessment indicates that an expected credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the expected credit loss in the allowance for credit losses in technology and academic services in our consolidated income statements. The Company has the ability and intent to hold these investments until recovery or maturity.

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​	​	​	​
Available-for-sale securities maturing as of December 31:	​	​	​
2024	​	$	28,643
2025	​	​	47,894
2026	​	​	12,103
2027	​	​	11,858
Total	​	$	100,498

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- References

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 940
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/940-320/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph b
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/942-320/tableOfContent

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