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Investments

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments consisted of the following (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
As of December 31, 2024
Maturities < 1 Year
Corporate bonds	$	41,535	$	73	$	(11	)	$	41,597
Agency bonds		1,714		5		—			1,719
Total short-term investments	$	43,249	$	78	$	(11	)	$	43,316

Maturities > 1 Year
Corporate bonds	$	15,846	$	3	$	(41	)	$	15,808
Total investments	$	15,846	$	3	$	(41	)	$	15,808

As of December 31, 2023
Maturities < 1 Year
Corporate bonds	$	35,286	$	25	$	(13	)	$	35,298
Agency bonds		5,026		6		—			5,032
Total short-term investments	$	40,312	$	31	$	(13	)	$	40,330

Maturities > 1 Year
Corporate bonds	$	23,594	$	143	$	(9	)	$	23,728
Total investments	$	23,594	$	143	$	(9	)	$	23,728

The Company carries investments at amortized cost. The fair value of the corporate and agency bonds is determined based on “Level 2” inputs, which consist of quoted prices for similar assets in active markets. The Company has evaluated the unrealized loss position in the corporate bonds as of the balance sheet dates and did not consider it to be indicative of an other-than-temporary impairment as the securities are highly-rated and the Company expects to realize the full principal amount at maturity.