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Marketable Investments

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Marketable Investments

Note 3 – Marketable Investments

The following table summarizes the Company’s marketable investments (in thousands):

		As of December 31, 2024
						Gross				Gross
		Amortized				Unrealized				Unrealized				Market
		Cost				Gains				Losses				Value
Corporate obligations		$	12,140			$	46			$	(6	)		$	12,180
Money market funds			36,402				—				—				36,402
Total		$	48,542			$	46			$	(6	)		$	48,582

		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

Realized gains and losses on investments are included in earnings and are determined using the specific identification method. Sales of marketable investments during 2024 primarily represent redemptions from non-U.S. based money market funds, and there were no realized gains or losses on marketable investments during the years ended December 31, 2024, 2023, and 2022.

The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of December 31, 2024 (in thousands):

		2025				2026				2027				Total
Corporate obligations		$	6,083			$	4,688			$	1,409			$	12,180
Money market funds			36,402				—				—				36,402
Total		$	42,485			$	4,688			$	1,409			$	48,582

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 December 31, 2024
		Less Than 12 Months								12 Months or Greater
		Market				Unrealized				Market				Unrealized
		Value				Losses				Value				Losses
Corporate obligations		$	803			$	4			$	997			$	2
Total		$	803			$	4			$	997			$	2

		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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- Definition

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

+ References

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