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Marketable Investments (Tables) | 6 Months Ended
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Jun. 30, 2025
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 June 30, 2025 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate obligations |  | $ | 19,506 |  |  | $ | 60 |  |  | $ | (6 | ) |  | $ | 19,560 |
Federal agency obligations |  |  | 2,931 |  |  |  | — |  |  |  | (4 | ) |  |  | 2,927 |
Money market funds |  |  | 44,700 |  |  |  | — |  |  |  | — |  |  |  | 44,700 |
Total |  | $ | 67,137 |  |  | $ | 60 |  |  | $ | (10 | ) |  | $ | 67,187 |
|  | 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 |
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 June 30, 2025 (in thousands).
|  | FY 2025 |  |  | FY 2026 |  |  | FY 2027 |  |  | FY 2028 |  |  | Total |
Corporate obligations |  | $ | 4,102 |  |  | $ | 7,533 |  |  | $ | 4,783 |  |  | $ | 3,142 |  |  | $ | 19,560 |
Federal agency obligations |  |  | 981 |  |  |  | — |  |  |  | 997 |  |  |  | 949 |  |  |  | 2,927 |
Money market funds |  |  | 44,700 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 44,700 |
Total |  | $ | 49,783 |  |  | $ | 7,533 |  |  | $ | 5,780 |  |  | $ | 4,091 |  |  | $ | 67,187 |
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 June 30, 2025 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Corporate obligations |  | $ | 7,057 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |
Federal agency obligations |  |  | 2,928 |  |  |  | 4 |  |  |  | — |  |  |  | — |
Total |  | $ | 9,985 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |
|  | 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 |

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