Available-for-sale marketable securities were as follows (in thousands):


	December 31, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Government agency		519,125		1,007		(159	)		519,973
Total	$	519,125	$	1,007	$	(159	)	$	519,973

	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Commercial paper	$	26,752	$	—	$	(15	)	$	26,737
Corporate debt		5,988		—		(7	)		5,982
Government agency		301,315		584		(16	)		301,884
Total	$	334,056	$	584	$	(38	)	$	334,602

The fair value of available-for-sale marketable securities by contractual maturity as of December 31, 2024 and 2023 were as follows (in thousands):


	December 31,
	2024		2023
Due in 1 year or less	$	481,696	$	307,434
Due in 1 - 2 years		38,277		27,168
Total	$	519,973	$	334,602

The Company had 9 securities in an unrealized loss position with an aggregate related fair value of $108.4 million as of December 31, 2024. The Company had 8 securities in an unrealized loss position with an aggregate related fair value of $61.5 million as of December 31, 2023. All securities in an unrealized loss position as of December 31, 2024 and 2023 had been in a loss position for less than twelve months. Unrealized losses on available-for-sale marketable securities as of December 31, 2024 and 2023 were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. Accordingly, no allowance for credit losses related to the Company’s available-for-sale marketable securities was recorded for the years ended December 31, 2024 and 2023. The Company does not intend to sell these securities and it is unlikely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.

As of December 31, 2024 and 2023, the Company recognized $2.5 million and $1.4 million, respectively, of accrued interest receivable from available-for-sale securities within prepaid expenses and other current assets on the consolidated balance sheets.