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MARKETABLE SECURITIES | 6 Months Ended
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Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract] |
MARKETABLE SECURITIES | MARKETABLE SECURITIES ASC Topic 320, “Investments – Debt and Equity Securities,” requires that an enterprise classify all debt securities as either held-to-maturity, trading or available-for-sale. The Company has elected to classify its securities as available-for-sale and therefore is required to adjust securities to fair value at each reporting date. All costs and both realized and unrealized gains and losses on securities are determined on a specific identification basis. The following is a summary of available-for-sale securities at:
($ in thousands) |  | June 30, 2026 |  | December 31, 2025
Marketable Securities: | Fair Value Hierarchy | Cost |  | Fair Value |  | Cost |  | Fair Value
Certificates of deposit |  |  |  |  |  |  |  |
with unrecognized gains |  | 496 |  |  | 496 |  |  | 921 |  |  | 923 |
Total Certificates of deposit | Level 1 | 496 |  |  | 496 |  |  | 921 |  |  | 923 |
U.S. Treasury and agency notes |  |  |  |  |  |  |  |
with unrecognized losses for less than 12 months |  | 9,665 |  |  | 9,630 |  |  | 1,000 |  |  | 999 |
with unrecognized gains |  | 1,001 |  |  | 1,001 |  |  | 12,731 |  |  | 12,745 |
Total U.S. Treasury and agency notes | Level 2 | 10,666 |  |  | 10,631 |  |  | 13,731 |  |  | 13,744 |
Corporate notes |  |  |  |  |  |  |  |
with unrecognized gains |  | — |  |  | — |  |  | 190 |  |  | 190 |
Total Corporate notes | Level 2 | — |  |  | — |  |  | 190 |  |  | 190 |
Municipal notes |  |  |  |  |  |  |  |
with unrecognized losses for less than 12 months |  | — |  |  | — |  |  | — |  |  | — |
with unrecognized losses |  | 60 |  |  | 60 |  |  | 514 |  |  | 513 |
Total Municipal notes | Level 2 | 60 |  |  | 60 |  |  | 514 |  |  | 513 |
|  | $ | 11,222 |  |  | $ | 11,187 |  |  | $ | 15,356 |  |  | $ | 15,370 |
The Company uses an allowance approach when recognizing credit loss for available-for-sale debt securities, measured as the difference between the security's amortized cost basis and the amount expected to be collected over the security's lifetime. Under this approach, at each reporting date, the Company records impairment related to credit losses through earnings offset with an allowance for credit losses, or ACL. At June 30, 2026, the Company has not recorded any credit losses. As of June 30, 2026, the fair market value of investment securities had a fair market value that was $35,000 below cost, consisting of gross unrealized holding losses. For the three months ended June 30, 2026, the adjustment to accumulated other comprehensive loss reflected a decrease in market value of $15,000, before the impact of a tax benefit of $4,000. For the six months ended June 30, 2026, the adjustment to accumulated other comprehensive loss reflected a decline in market value of $47,000 before the impact of an estimated tax benefit of $13,000. The Company elected to exclude applicable accrued interest from both the fair value and the amortized cost basis of the available-for-sale debt securities, and separately present the accrued interest receivable balance. The accrued interest receivables balance totaled $75,000 as of June 30, 2026 and was included within the Prepaid expenses and other current assets line item of the Consolidated Balance Sheets. The Company elected not to measure an allowance for credit losses on accrued interest receivable, as an allowance on possible uncollectible accrued interest is not warranted. U.S. Treasury and agency notes The unrealized losses on the Company's investments in U.S. Treasury and agency notes at June 30, 2026 and December 31, 2025 were caused by relative changes in interest rates since the time of purchase and not changes in credit quality. The contractual cash flows for these securities are guaranteed by U.S. government agencies. The Company intends to hold these securities to maturity and expects to recover their entire amortized cost basis. Accordingly, no allowance for credit losses was recorded as of June 30, 2026 or December 31, 2025. Corporate notes As of June 30, 2026, the Company held no corporate notes. As of December 31, 2025, the Company's investments in corporate notes were in an unrealized gain position and were with companies that had an investment grade rating from Standard & Poor's. Accordingly, no allowance for credit losses was required for corporate notes as of December 31, 2025. The following tables summarize the maturities, at par, of marketable securities as of:
| June 30, 2026
($ in thousands) | 2026 |  | 2027 |  |  |  |  |  | Total
Certificates of deposit | $ | 248 |  |  | $ | 248 |  |  |  |  |  |  | $ | 496 |
U.S. Treasury and agency notes | 5,250 |  |  | 5,450 |  |  |  |  |  |  | 10,700 |
Municipal notes | — |  |  | 60 |  |  |  |  |  |  | 60 |
Total | $ | 5,498 |  |  | $ | 5,758 |  |  |  |  |  |  | $ | 11,256 |
| December 31, 2025
($ in thousands) | 2026 |  | 2027 |  | Total
Certificates of deposit | $ | 425 |  |  | $ | 496 |  |  | $ | 921 |
U.S. Treasury and agency notes | 13,750 |  |  | — |  |  | 13,750 |
Corporate notes | 191 |  |  | — |  |  | 191 |
Municipal notes | 250 |  |  | 260 |  |  | 510 |
Total | $ | 14,616 |  |  | $ | 756 |  |  | $ | 15,372 |
The Company’s investments in corporate notes are with companies that have an investment grade rating from Standard & Poor’s as of December 31, 2025.

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- Definition The entire disclosure for investment in debt and equity securities and other assets at fair value and held for trading. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B + Details
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