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Investments

12 Months Ended

Dec. 31, 2024

Investments

Investments

Note 4 — Investments

​

At December 31, 2024 and 2023 the amortized cost and fair value of marketable securities, which are included in “Short-term investments” on the Consolidated Balance Sheets, were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

Gross

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

​

Cost

​

Gains

​

Losses

​

Fair Value

​

​

(in thousands)

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

U.S. treasuries

​

$

84,008

​

$

45

​

$

(21)

​

$

84,032

Government agency securities

​

​

30,244

​

​

13

​

​

(90)

​

​

30,167

Corporate debt

​

​

83,209

​

​

17

​

​

(175)

​

​

83,051

Commercial paper

​

​

1,469

​

​

—

​

​

—

​

​

1,469

Total

​

$

198,930

​

$

75

​

$

(286)

​

$

198,719

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

​

​

​

​

​

​

​

​

​

​

​

U.S. treasuries

​

$

59,541

​

$

3

​

$

(51)

​

$

59,493

Government agency securities

​

​

41,843

​

​

6

​

​

(31)

​

​

41,818

Corporate debt

​

35,447

​

​

9

​

​

(47)

​

35,409

Commercial paper

​

​

9,944

​

​

—

​

​

—

​

​

9,944

Total

​

$

146,775

​

$

18

​

$

(129)

​

$

146,664

​

Available-for-sale securities in a loss position at December 31, 2024 and 2023 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Continuous Loss Position

​

Continuous Loss Position

​

​

for Less than 12 Months

​

for 12 Months or More

​

​

​

Gross

​

​

Gross

​

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

​

Fair Value

​

Losses

​

Fair Value

​

Losses

​

​

​

(in thousands)

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

U.S. treasuries

​

$

26,756

​

$

(21)

​

$

—

​

$

—

Government agency securities

​

​

20,062

​

​

(90)

​

​

—

​

​

—

Corporate debt

​

58,967

​

(175)

​

—

​

—

Total

​

$

105,785

​

$

(286)

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

​

​

​

​

​

​

​

​

​

​

​

U.S. treasuries

​

$

43,118

​

$

(50)

​

$

—

​

$

—

Government agency securities

​

​

34,885

​

​

(31)

​

​

—

​

​

—

Corporate debt

​

23,262

​

(33)

​

2,618

​

(15)

Total

​

$

101,265

​

$

(114)

​

$

2,618

​

$

(15)

​

The contractual maturities of securities classified as available-for-sale at December 31, 2024 were as follows:

​

​	​	​	​	​	​	​
​	​	December 31, 2024
​	​	Amortized		​	Estimated
​	​	Cost		​	Fair Value
​	​	​	(in thousands)
Due in one year or less	​	$	143,688	​	$	143,696
Due after one year through two years	​	​	55,242	​		55,023
Total	​	$	198,930	​	$	198,719

​

Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The realized gains or losses for the years ended December 31, 2024, 2023, and 2022 were immaterial.

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- References

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 940
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/940-320/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph b
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/942-320/tableOfContent

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