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Investments in Securities | 6 Months Ended | 12 Months Ended
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Jun. 30, 2025 | Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |  |
Investments in Securities | 11. Investments in Securities The Company did no t hold any investments in securities as of June 30, 2025. As of December 31, 2024, the cost and fair value of marketable securities was as follows:
|  | December 31, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury bills |  | $ | 55,009 |  |  | $ | 190 |  |  | $ | — |  |  | $ | 55,199 |
Municipal bonds |  |  | 9,631 |  |  |  | 38 |  |  |  | (351 | ) |  |  | 9,318 |
Corporate/government bonds |  |  | 479 |  |  |  | 33 |  |  |  | — |  |  |  | 512 |
Other bonds |  |  | 478 |  |  |  | 34 |  |  |  | — |  |  |  | 512 |
|  | $ | 65,597 |  |  | $ | 295 |  |  | $ | (351 | ) |  | $ | 65,541 |
The aggregated unrealized gain (loss) on available-for-sale debt securities in the amounts of $0 and $(56) have been recognized in accumulated other comprehensive income (loss) in the Company’s condensed consolidated balance sheets (unaudited) as of June 30, 2025 and December 31, 2024, respectively. | 11. Investme nts in Securities The cost and fair value of marketable securities are as follows:
|  |  | December 31, 2024 |
(in thousands) |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury bills |  | $ | 55,009 |  | $ | 190 |  | $ | — |  | $ | 55,199 |
Municipal bonds |  |  | 9,631 |  |  | 38 |  |  | (351) |  |  | 9,318 |
Corporate/government bonds |  |  | 479 |  |  | 33 |  |  | — |  |  | 512 |
Other bonds |  |  | 478 |  |  | 34 |  |  | — |  |  | 512 |
|  | $ | 65,597 |  | $ | 295 |  | $ | (351) |  | $ | 65,541 |
|  |  | December 31, 2023 |
(in thousands) |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury bills |  | $ | 60,801 |  | $ | 131 |  | $ | — |  | $ | 60,932 |
Municipal bonds |  |  | 9,543 |  |  | 148 |  |  | (404) |  |  | 9,287 |
Corporate/government bonds |  |  | 477 |  |  | 29 |  |  | — |  |  | 506 |
Other bonds |  |  | 478 |  |  | 27 |  |  | — |  |  | 505 |
|  | $ | 71,299 |  | $ | 335 |  | $ | (404) |  | $ | 71,230 |
The aggregated unrealized gain (loss) on available-for-sale debt securities in the amounts of $(56) and $(69) have been recognized in accumulated other comprehensive loss in the Company’s consolidated balance sheets as of December 31, 2024 and December 31, 2023, respectively.

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