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Investments in marketable securities (Tables)
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Marketable securities
Investments in marketable securities consisted of the following:
Amortized Cost
Gross Unrealized Gain(1)
Gross Unrealized Loss(1)
Fair Value
As of June 30, 2025(in thousands)
Cash equivalents
Money market funds$30,400 $— $— $30,400 
Total$30,400 $— $— $30,400 
Investments in marketable short-term securities
US corporate bonds$11,300 $9 $— $11,309 
US treasury bills47,128 — (10)47,118 
US government bonds2,250 — (1)2,249 
Total$60,678 $9 $(11)$60,676 
 
(1) Gross unrealized gain (loss) is pre-tax and is reported in accumulated other comprehensive income (loss).

Amortized Cost
Gross Unrealized Gain(1)
Gross Unrealized Loss(1)
Fair Value
As of December 31, 2024(in thousands)
Cash equivalents
Money market funds$29,533 $— $— $29,533 
Total$29,533 $— $— $29,533 
Investments in marketable short-term securities
US corporate bonds$30,776 $27 $(6)$30,797 
US treasury bills55,467 29 — 55,496 
Total$86,243 $56 $(6)$86,293 

(1) Gross unrealized gain (loss) is pre-tax and is reported in accumulated other comprehensive income (loss).