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Cash, Cash Equivalents and Marketable Securities
 3 Months Ended
Mar. 29, 2025
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Marketable Securities Cash, Cash Equivalents and Marketable Securities
The Company has invested its excess cash primarily in money market funds and highly liquid marketable securities such as U.S. treasury securities, corporate debt instruments, commercial paper and U.S. government securities. The Company considers all investments with maturities of three months or less when purchased to be cash equivalents. Marketable securities represent highly liquid U.S. treasury securities, corporate debt instruments, commercial paper and U.S. government securities with maturities greater than 90 days at date of purchase. Cash equivalents are stated at amounts that approximate fair value based on quoted market prices. Marketable securities are recorded at their fair values.
Marketable securities with maturities greater than one year are classified as current because management considers all marketable securities to be available for current operations.
The Company’s investments have been classified and accounted for as available-for-sale. Such investments are recorded at fair value and unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive loss in stockholders’ equity until realized. Realized gains and losses on sales of marketable securities, if any, are determined on the specific identification method and are reclassified from accumulated other comprehensive loss to results of operations as other expense, net. Realized gains and losses were not significant for the three months ended March 29, 2025 and March 30, 2024.
Cash, cash equivalents and marketable securities consisted of the following (in thousands):
March 29,
2025		December 31,
2024
Cash and cash equivalents:
Cash$15,727 $20,664 
Commercial paper17,636 10,058 
Money market funds8,937 4,890 
U.S. government securities— 7,550 
Total cash and cash equivalents42,300 43,162 
Marketable securities:
Corporate debt securities126,497 123,701 
U.S. government securities49,036 66,582 
Commercial paper31,979 22,715 
U.S. government agency securities19,875 24,411 
Certificates of deposit12,623 16,520 
Total marketable securities240,010 253,929 
$282,310 $297,091 
The carrying amounts of the Company’s money market funds approximate their fair values due to their nature, duration and short maturities. The amortized cost and fair value of marketable securities were as follows (in thousands):
As of March 29, 2025Amortized CostUnrealized Gains (Losses), netFair Value
Corporate debt securities$126,179 $318 $126,497 
Commercial paper49,624 (9)49,615 
U.S. government securities48,915 121 49,036 
U.S. government agency securities19,838 37 19,875 
Certificates of deposit12,612 11 12,623 
$257,168 $478 $257,646 

As of December 31, 2024Amortized CostUnrealized Gains, net Fair Value
Corporate debt securities$123,519 $182 $123,701 
U.S. government securities74,118 14 74,132 
Commercial paper32,766 7 32,773 
U.S. government agency securities24,380 31 24,411 
Certificates of deposit16,505 15 16,520 
$271,288 $249 $271,537