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Investments | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Investments | Note 4 Investments Below is a summary of investments, which are measured at fair value as of September 30, 2025 (in thousands):
|  | Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Corporate bonds |  | $ | 1,480 |  |  | $ | - |  |  | $ | (10 | ) |  | $ | 1,470 |
Government securities |  |  | 40,091 |  |  |  | 285 |  |  |  | - |  |  |  | 40,376 |
Total |  | $ | 41,571 |  |  | $ | 285 |  |  | $ | (10 | ) |  | $ | 41,846 |
Below is a summary of investments, which are measured at fair value as of December 31, 2024 (in thousands):
|  | Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |
Corporate bonds |  | $ | 4,249 |  |  | $ | 1 |  |  | $ | (38 | ) |  | $ | 4,212 |  |
Government securities |  |  | 36,003 |  |  |  | 258 |  |  |  | - |  |  |  | 36,261 |  |
Total |  | $ | 40,252 |  |  | $ | 259 |  |  | $ | (38 | ) |  | $ | 40,473 |  |
The gross unrealized losses and fair values of available-for-sale investment securities that were in unrealized loss positions were as follows (in thousands):
|  | Less Than 12 Months |  |  | 12 Months or More |  |  | Total |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
As of September 30, 2025 |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 762 |  |  | $ | (4 | ) |  | $ | 708 |  |  | $ | (6 | ) |  | $ | 1,470 |  |  | $ | (10 | )
Total |  | $ | 762 |  |  | $ | (4 | ) |  | $ | 708 |  |  | $ | (6 | ) |  | $ | 1,470 |  |  | $ | (10 | )
|  | Less Than 12 Months |  |  | 12 Months or More |  |  | Total |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
December 31, 2024 |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 2,257 |  |  | $ | (19 | ) |  | $ | 1,043 |  |  | $ | (19 | ) |  | $ | 3,300 |  |  | $ | (38 | )
Total |  | $ | 2,257 |  |  | $ | (19 | ) |  | $ | 1,043 |  |  | $ | (19 | ) |  | $ | 3,300 |  |  | $ | (38 | )
Net realized gains recorded in connection with the investments for the three and nine months ended September 30, 2025 were $0.002 million and $0.01 million, respectively, and were recorded as a component of interest income in the condensed consolidated statements of operations. Net realized gains (losses) recorded in connection with the investments for the three and nine months ended September 30, 2024 were ($0.01) million and $0.8 million, respectively, and were recorded as a component of interest income in the condensed consolidated statements of operations. Accrued interest of $0.02 million and $0.1 million is included in investments within the condensed consolidated balance sheets for the periods ended September 30, 2025 and 2024, respectively. During the periods when the Company held available-for-sale investment securities, the Company did not intend to sell nor anticipate that it would be required to sell these investments before recovery of the amortized cost basis. As such, unrealized losses were determined not to be related to credit losses and the Company did not record any credit-related impairment losses on the available-for-sale investment securities during the three and nine months ended September 30, 2025 and 2024. As of September 30, 2025, the contractual maturities of available-for-sale investment securities were as follows (in thousands):
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 40,857 |  |  | $ | 41,138 |
Due after one year through five years |  | $ | 714 |  |  | $ | 708 |
Total |  | $ | 41,571 |  |  | $ | 41,846 |

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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