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Marketable Securities | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | Marketable Securities The Company invests in short-term and long-term agency, municipal, corporate and other debt securities. As of December 31, 2024 and 2023, the securities are categorized as available-for-sale and are recorded at fair value. Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2024 and 2023 is as follows:
| December 31, 2024
(in thousands) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
U.S. government agency securities | $ | 8,323 |  |  | — |  |  | $ | (22) |  |  | $ | 8,301 |
Corporate debt securities | 15,852 |  |  | — |  |  | (82) |  |  | 15,770 |
U.S. municipal securities | 6,762 |  |  | — |  |  | (38) |  |  | 6,724 |
U.S. treasury bonds | 1,000 |  |  | — |  |  | (3) |  |  | 997 |
Total marketable securities | $ | 31,937 |  |  | $ | — |  |  | $ | (145) |  |  | $ | 31,792 |
| December 31, 2023
(in thousands) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
U.S. government agency securities | $ | 16,798 |  |  | — |  |  | $ | (278) |  |  | $ | 16,520 |
Corporate debt securities | 2,511 |  |  | — |  |  | (19) |  |  | 2,492 |
U.S. municipal securities | 7,876 |  |  | — |  |  | (105) |  |  | 7,771 |
Certificates of deposit/time deposits | 249 |  |  | — |  |  | - |  |  | 249 |
Total marketable securities | $ | 27,434 |  |  | $ | — |  |  | $ | (402) |  |  | $ | 27,032 |
Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1). Fair values for the U.S. government agency securities, U.S. municipal securities, commercial paper and certificates of deposit are primarily determined using dealer quotes or quoted market prices for similar securities (Level 2). Classification of marketable securities as current or non-current is based upon the security’s maturity date as of the date of these financial statements. The December 31, 2024 balance of available-for-sale debt securities by contractual maturity is shown in the following table at fair value. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
(in thousands) | December 31, 2024
Due in one year or less | $ | 14,019 |
Due after one year through five years | 17,773 |
Total marketable securities | $ | 31,792 |

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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