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Cash, Cash Equivalents and Marketable Securities
 9 Months Ended
Sep. 27, 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 nine months ended September 27, 2025 and September 28, 2024.
Cash, cash equivalents and marketable securities consisted of the following (in thousands):
September 27,
2025		December 31,
2024
Cash and cash equivalents:
Cash$33,861 $20,664 
Commercial paper47,526 10,058 
Money market funds12,378 4,890 
U.S. government securities1,247 7,550 
Total cash and cash equivalents95,012 43,162 
Marketable securities:
Corporate debt securities145,350 123,701 
U.S. government securities56,554 66,582 
Commercial paper21,180 22,715 
U.S. government agency securities14,502 24,411 
Certificates of deposit7,025 16,520 
Total marketable securities244,611 253,929 
$339,623 $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 September 27, 2025Amortized CostUnrealized Gains (Losses), netFair Value
Corporate debt securities$144,834 $516 $145,350 
Commercial paper68,721 (15)68,706 
U.S. government securities57,620 181 57,801 
U.S. government agency securities14,481 21 14,502 
Certificates of deposit7,020 5 7,025 
$292,676 $708 $293,384 

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