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MARKETABLE SECURITIES | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
MARKETABLE SECURITIES | MARKETABLE SECURITIES Short-term investments consist of investments in debt securities that are classified as available-for-sale. The amortized cost, gross unrealized gains and losses and fair value of investments as of September 30, 2025 and December 31, 2024 were as follows (in thousands):
| September 30, 2025 |  |  |  |  |  |
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  |  |  |  |  |
Short-term marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit | $ | 2,515 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,515 |  |  |  |  |  |  |
Commercial paper | 3,241 |  |  | — |  |  | — |  |  | 3,241 |  |  |  |  |  |  |
Corporate bonds | 37,078 |  |  | 95 |  |  | (11) |  |  | 37,162 |  |  |  |  |  |  |
U.S. government securities | 59,466 |  |  | 102 |  |  | (4) |  |  | 59,564 |  |  |  |  |  |  |
Total short-term marketable securities | $ | 102,300 |  |  | $ | 197 |  |  | $ | (15) |  |  | $ | 102,482 |  |  |  |  |  |  |
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Short-term marketable securities: |  |  |  |  |  |  |
Certificates of deposit | $ | 1,282 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,282 |
Commercial paper | 8,867 |  |  | — |  |  | — |  |  | 8,867 |
Corporate bonds | 38,505 |  |  | 42 |  |  | (64) |  |  | 38,483 |
Agency bonds | 1,237 |  |  | 1 |  |  | — |  |  | 1,238 |
U.S. government securities | 50,554 |  |  | 177 |  |  | (20) |  |  | 50,711 |
Total short-term marketable securities | $ | 100,445 |  |  | $ | 220 |  |  | $ | (84) |  |  | $ | 100,581 |
The following tables present gross unrealized losses and fair values for those securities that were in an unrealized loss position as of September 30, 2025 and December 31, 2024, aggregated by investment category and the length of time that the individual securities had been in a continuous loss position (in thousands):
| September 30, 2025
Less Than 12 Months |  | 12 Months or Greater |  | Total
Fair Value |  | Unrealized Loss | Fair Value |  | Unrealized Loss | Fair Value |  | Unrealized Loss
Corporate bonds | $ | 11,544 |  |  | $ | (11) |  |  | $ | — |  |  | $ | — |  |  | $ | 11,544 |  |  | $ | (11) |
U.S. government securities | 4,590 |  |  | (2) |  |  | 2,045 |  |  | (2) |  |  | 6,635 |  |  | (4) |
Total | $ | 16,134 |  |  | $ | (13) |  |  | $ | 2,045 |  |  | $ | (2) |  |  | $ | 18,179 |  |  | $ | (15) |
| December 31, 2024
Less Than 12 Months |  | 12 Months or Greater |  | Total
Fair Value |  | Unrealized Loss | Fair Value |  | Unrealized Loss | Fair Value |  | Unrealized Loss
Corporate bonds | $ | 18,285 |  |  | $ | (64) |  |  | $ | — |  |  | $ | — |  |  | $ | 18,285 |  |  | $ | (64) |
U.S. government securities | 2,038 |  |  | (20) |  |  | — |  |  | — |  |  | 2,038 |  |  | (20) |
Total | $ | 20,323 |  |  | $ | (84) |  |  | $ | — |  |  | $ | — |  |  | $ | 20,323 |  |  | $ | (84) |
For the nine months ended September 30, 2025 and 2024, the Company did not recognize any credit loss related to available-for-sale marketable securities. The contractual maturities for marketable securities classified as available-for-sale as of September 30, 2025 were as follows (in thousands):
| Amortized Cost |  | Fair Value
Due in one year or less | $ | 57,152 |  |  | $ | 57,214 |
Due in one to five years | 45,148 |  |  | 45,268 |
Total | $ | 102,300 |  |  | $ | 102,482 |

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