Investments

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Available-for-sale securities

The Company’s portfolio of available-for-sale marketable securities consists of the following:


	June 30, 2025
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	11,609	$	5	$	(1)	$	11,613
Corporate debt securities	32,051		26		(2)		32,075
Other debt securities	6,173		4		(1)		6,176
Total short-term	49,833		35		(4)		49,864

Available-for-sale securities, long-term
U.S. government securities	4,994		13		—		5,007
Corporate debt securities	7,128		21		(3)		7,146
Other debt securities	6,309		9		—		6,318
Total long-term	18,431		43		(3)		18,471

Total marketable securities	$	68,264	$	78	$	(7)	$	68,335


	December 31, 2024
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	1,493	$	1	$	—	$	1,494
Corporate debt securities	5,775		14		(1)		5,788
Other debt securities	1,912		4		—		1,916
Total short-term	9,180		19		(1)		9,198

Available-for-sale securities, long-term
Corporate debt securities	3,210		4		(2)		3,212
Other debt securities	1,412		5		(1)		1,416
Total long-term	4,622		9		(3)		4,628

Total marketable securities	$	13,802	$	28	$	(4)	$	13,826


	June 30, 2025
(In thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	49,833	$	49,864
Due after one year through five years	18,431		18,471
Total	$	68,264	$	68,335

The following tables present information about the available-for-sale investments that had been in a continuous unrealized loss position for less than 12 months:


	June 30, 2025
	Less than 12 months				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	6,850	$	(5)	$	6,850	$	(5)
U.S. government securities	4,721		(1)		4,721		(1)
Other debt securities	3,994		(2)		3,994		(2)
Total	$	15,565	$	(8)	$	15,565	$	(8)


	December 31, 2024
	Less than 12 months				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	2,091	$	(3)	$	2,091	$	(3)
Other debt securities	1,030		(1)		1,030		(1)
Total	$	3,121	$	(4)	$	3,121	$	(4)

As of June 30, 2025 and December 31, 2024, all available-for-sale securities investments presented above with unrealized losses have been in an unrealized loss position for less than 12 months.

As of June 30, 2025, none of our available-for-sale marketable securities exhibited risk of credit loss and therefore no allowance for credit losses was recorded.