XML 36 R30.htm IDEA: XBRL DOCUMENT v3.26.1
Equity and Debt Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Equity and Debt Securities

The Company’s equity and debt securities consisted of the following:

 

June 30, 2026

 

 

Amortized
Cost Basis

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Aggregate
Fair Value

 

 

(in thousands)

 

Equity securities

 

 

 

 

 

 

 

 

 

 

 

Long-term

 

 

 

 

 

 

 

 

 

 

 

Preferred stock of privately-held companies

$

15,001

 

 

$

—

 

 

$

—

 

 

$

15,001

 

Total equity securities

 

15,001

 

 

 

—

 

 

 

—

 

 

 

15,001

 

Available-for-sale debt securities

 

 

 

 

 

 

 

 

 

 

 

Short-term

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

156,278

 

 

 

220

 

 

 

—

 

 

 

156,498

 

Corporate debt securities

 

40,855

 

 

 

35

 

 

 

(3

)

 

 

40,887

 

U.S. agency debt securities

 

32,960

 

 

 

11

 

 

 

(4

)

 

 

32,967

 

Municipal bonds

 

375

 

 

 

—

 

 

 

—

 

 

 

375

 

Money market accounts

 

5,108

 

 

 

—

 

 

 

—

 

 

 

5,108

 

Less: Cash equivalents

 

(5,108

)

 

 

—

 

 

 

—

 

 

 

(5,108

)

Total debt securities due within 1 year

 

230,468

 

 

 

266

 

 

 

(7

)

 

 

230,727

 

After 1 year through 5 years

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

246,904

 

 

 

195

 

 

 

(1,688

)

 

 

245,411

 

U.S. agency debt securities

 

48,617

 

 

 

—

 

 

 

(630

)

 

 

47,987

 

Municipal bonds

 

920

 

 

 

1

 

 

 

(3

)

 

 

918

 

Total debt securities due after 1 year through 5 years

 

296,441

 

 

 

196

 

 

 

(2,321

)

 

 

294,316

 

Total available-for-sale debt securities

 

526,909

 

 

 

462

 

 

 

(2,328

)

 

 

525,043

 

Total equity and debt securities

$

541,910

 

 

$

462

 

 

$

(2,328

)

 

$

540,044

 

 

 

 

December 31, 2025

 

 

Amortized
Cost Basis

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Aggregate
Fair Value

 

 

(in thousands)

 

Equity securities

 

 

 

 

 

 

 

 

 

 

 

Long-term

 

 

 

 

 

 

 

 

 

 

 

Preferred stock of privately-held companies

$

15,001

 

 

$

—

 

 

$

—

 

 

$

15,001

 

Total equity securities

 

15,001

 

 

 

—

 

 

 

—

 

 

 

15,001

 

Available-for-sale debt securities

 

 

 

 

 

 

 

 

 

 

 

Short-term

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

159,875

 

 

 

748

 

 

 

(1

)

 

 

160,622

 

U.S. agency debt securities

 

86,786

 

 

 

133

 

 

 

(1

)

 

 

86,918

 

Corporate debt securities

 

37,333

 

 

 

157

 

 

 

(16

)

 

 

37,474

 

Yankee debt securities

 

500

 

 

 

—

 

 

 

(5

)

 

 

495

 

Municipal bonds

 

375

 

 

 

—

 

 

 

—

 

 

 

375

 

Money market accounts

 

18,398

 

 

 

—

 

 

 

—

 

 

 

18,398

 

Less: Cash equivalents

 

(18,398

)

 

 

—

 

 

 

—

 

 

 

(18,398

)

Total debt securities due within 1 year

 

284,869

 

 

 

1,038

 

 

 

(23

)

 

 

285,884

 

After 1 year through 5 years

 

 

 

 

 

 

 

 

 

 

 

U.S. government debt securities

 

284,857

 

 

 

2,821

 

 

 

(67

)

 

 

287,611

 

U.S. agency debt securities

 

70,567

 

 

 

123

 

 

 

(51

)

 

 

70,639

 

Corporate debt securities

 

9,922

 

 

 

85

 

 

 

—

 

 

 

10,007

 

Municipal bonds

 

1,015

 

 

 

1

 

 

 

(4

)

 

 

1,012

 

Total debt securities due after 1 year through 5 years

 

366,361

 

 

 

3,030

 

 

 

(122

)

 

 

369,269

 

Total available-for-sale debt securities

 

651,230

 

 

 

4,068

 

 

 

(145

)

 

 

655,153

 

Total equity and debt securities

$

666,231

 

 

$

4,068

 

 

$

(145

)

 

$

670,154