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Marketable Investments (Tables) | 9 Months Ended
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Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Summary of Company's marketable investments | The following table summarizes the Company’s marketable investments (in thousands):
|  | As of September 30, 2024 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate obligations |  | $ | 13,300 |  |  | $ | 105 |  |  | $ | (8 | ) |  | $ | 13,397 |
Money market funds |  |  | 38,781 |  |  |  | — |  |  |  | — |  |  |  | 38,781 |
Total |  | $ | 52,081 |  |  | $ | 105 |  |  | $ | (8 | ) |  | $ | 52,178 |
|  | As of December 31, 2023 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate obligations |  | $ | 18,049 |  |  | $ | — |  |  | $ | (72 | ) |  | $ | 17,977 |
Federal agency obligations |  |  | 2,000 |  |  |  | — |  |  |  | (7 | ) |  |  | 1,993 |
Money market funds |  |  | 31,610 |  |  |  | — |  |  |  | — |  |  |  | 31,610 |
Total |  | $ | 51,659 |  |  | $ | — |  |  | $ | (79 | ) |  | $ | 51,580 |
Summarizes the maturity periods of the marketable investments | The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of September 30, 2024 (in thousands).
|  | FY 2024 |  |  | FY 2025 |  |  | FY 2026 |  |  | FY 2027 |  |  | Total |
Corporate obligations |  | $ | 1,994 |  |  | $ | 6,066 |  |  | $ | 4,322 |  |  | $ | 1,015 |  |  | $ | 13,397 |
Money market funds |  |  | 38,781 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 38,781 |
Total |  | $ | 40,775 |  |  | $ | 6,066 |  |  | $ | 4,322 |  |  | $ | 1,015 |  |  | $ | 52,178 |
Unrealized Losses on Debt Investments | The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
|  | As of September 30, 2024 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Corporate obligations |  | $ | — |  |  | $ | — |  |  | $ | 2,983 |  |  | $ | 8 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 2,983 |  |  | $ | 8 |
|  | As of December 31, 2023 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Corporate obligations |  | $ | 13,098 |  |  | $ | 8 |  |  | $ | 4,879 |  |  | $ | 64 |
Federal agency obligations |  |  | — |  |  |  | — |  |  |  | 1,993 |  |  |  | 7 |
Total |  | $ | 13,098 |  |  | $ | 8 |  |  | $ | 6,872 |  |  | $ | 71 |

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