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Investments

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Investments

NOTE 3 — Investments

As of June 30, 2025, the Company is only invested in available-for-sale securities. The Company’s $100 million certificate of deposit previously held by the Company matured and the interest receivable on the certificate of deposit was collected in June 2025.

The following tables present the Company’s available-for-sale investments included in the condensed consolidated balance sheets:

$ in thousands						June 30, 2025
Current assets						Amortized Cost						Unrealized Gain (Loss)																		Fair Value
Corporate bonds						$	18,462					$	(1)																	$	18,461
Commercial paper						28,153						—																		28,153
U.S. treasuries						72,698						61																		72,760
Total						$	119,313					$	60																	$	119,374
Long-term assets						Amortized Cost						Unrealized Gain																		Fair Value
Corporate bonds						$	31,772					$	64																	$	31,836
U.S. treasuries						36,958						119																		37,077
Total						$	68,730					$	183																	$	68,913

$ in thousands						December 31, 2024
Current assets						Amortized Cost						Unrealized Gain						Fair Value
Corporate bonds						$	11,006					$	15					$	11,021
Commercial paper						8,629						—						8,629
U.S. treasuries						58,637						57						58,694
Total						$	78,272					$	72					$	78,344
Long-term assets						Amortized Cost						Unrealized Gain						Fair Value
U.S. treasuries						$	22,538					$	90					$	22,628
Total						$	22,538					$	90					$	22,628

The cost of securities sold, if any, is based on the specific-identification method. During the three and six months ended June 30, 2025 and 2024, there were no securities sold. There were no credit losses recognized during the three and six months ended June 30, 2025 and 2024. The Company established no allowances for credit losses as of June 30, 2025 and December 31, 2024. The Company’s long-term available-for-sale investments mature through June 2027.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 940
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-Name Accounting Standards Codification
-Publisher FASB
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-Name Regulation S-K (SK)
-Number 229
-Section 1403
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