Investments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

The following table presents the Company’s financial assets measured on a recurring basis by contractual maturity, including pricing

category, amortized cost and fair value. Gross unrealized gains and losses were not material for the periods presented. As of December 31,

2025 and December 31, 2024, the Company had no financial liabilities and no Level 3 financial assets.


		December 31, 2025		December 31, 2024
	Pricing Category	Amortized Cost	Fair Value	Amortized Cost	Fair Value
		(In thousands)
Cash equivalents
Money market securities	Level 1	$11,225	$11,225	$2,580	$2,580
U.S. treasury securities	Level 2	12,952	12,955	—	—
Total cash equivalents		24,177	24,180	2,580	2,580

Short-term investments
U.S. treasury securities	Level 2	13,618	13,640	20,303	20,345
Corporate notes and bonds	Level 2	13,505	13,533	27,995	28,047
Total short-term investments		27,123	27,173	48,298	48,392

Long-term investments
U.S. treasury securities	Level 2	1,959	1,971	999	1,000
Corporate notes and bonds	Level 2	6,038	6,063	18,983	19,035
Municipal and agency notes and bonds	Level 2	—	—	1,799	1,797
Total long-term investments		7,997	8,034	21,781	21,832
Total short and long-term investments		35,120	35,207	70,079	70,224
Total		$59,297	$59,387	$72,659	$72,804

The following table presents the sales of available-for-sale investments.