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Cash, Cash Equivalents and Marketable Securities
 6 Months Ended
Jun. 28, 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 and six months ended June 28, 2025 and June 29, 2024.
Cash, cash equivalents and marketable securities consisted of the following (in thousands):
June 28,
2025		December 31,
2024
Cash and cash equivalents:
Cash$32,747 $20,664 
Money market funds23,457 4,890 
Commercial paper18,344 10,058 
U.S. government securities1,990 7,550 
Total cash and cash equivalents76,538 43,162 
Marketable securities:
Corporate debt securities123,467 123,701 
U.S. government securities57,673 66,582 
Commercial paper23,543 22,715 
U.S. government agency securities13,890 24,411 
Certificates of deposit3,857 16,520 
Total marketable securities222,430 253,929 
$298,968 $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 June 28, 2025Amortized CostUnrealized Gains (Losses), netFair Value
Corporate debt securities$123,099 $368 $123,467 
U.S. government securities59,514 149 59,663 
Commercial paper41,899 (12)41,887 
U.S. government agency securities13,868 22 13,890 
Certificates of deposit3,853 4 3,857 
$242,233 $531 $242,764 
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