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Investments (Tables)

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments in Debt Securities

The Company’s investments in debt securities consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands):

						June 30, 2025
						Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. treasury securities						$	15,363					$	—					$	—					$	15,363
Commercial paper						9,899						—						—						9,899
Corporate bonds						37,410						30						(9)						37,431
Total debt securities						$	62,672					$	30					$	(9)					$	62,693
Included in cash and cash equivalents						$	6,302					$	1					$	—					$	6,303
Included in marketable securities						$	56,370					$	29					$	(9)					$	56,390

						December 31, 2024
						Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. treasury securities						$	10,933					$	22					$	—					$	10,955
Commercial paper						19,067						7						—						19,074
Corporate bonds						81,207						166						(16)						81,357
Certificate of deposits						1,561						—						—						1,561
Total debt securities						$	112,768					$	195					$	(16)					$	112,947
Included in cash and cash equivalents						$	16,280					$	5					$	—					$	16,285
Included in marketable securities						$	96,488					$	190					$	(16)					$	96,662

Schedule of Gross Unrealized Losses and Fair Value of Debt Securities in Unrealized Loss Position

The following table presents the gross unrealized losses and the fair value for those debt securities that were in an unrealized loss position for less than 12 months as of June 30, 2025 and December 31, 2024 (in thousands):

						June 30, 2025												December 31, 2024
						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value
U.S. treasury securities						$	—					$	14,064					$	—					$	—
Corporate bonds						(9)						17,108						(16)						31,546
Total						$	(9)					$	31,172					$	(16)					$	31,546

Schedule of Equity Investments

The Company’s equity investments consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands):

			Condensed Consolidated Balance Sheets Location						June 30, 2025						December 31, 2024
Money market funds(1)			Cash and cash equivalents						$	18,451					$	17,730
Marketable equity investments(1)			Marketable securities						3,075						3,165
Investment in non-marketable securities(2)			Other non-current assets						10,000						10,000
Total									$	31,526					$	30,895

(1)    Investments with readily determinable fair values.

(2)    Investment in privately held company without readily determinable fair value.

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