Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale and Held-to-Maturity Securities

The following is a summary of available-for-sale securities, which are carried at fair value, as of December 31, 2024 (in thousands):

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Losses)		Estimated Fair Value
Balance as of December 31, 2024
Corporate debt securities	$	500	$	—	$	(1)	$	499
Total	$	500	$	—	$	(1)	$	499

The following is a summary of held-to-maturity securities, which are carried at amortized cost, as of December 31, 2024 and March 31, 2025 (in thousands):

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Losses)		Estimated Fair Value
Balance as of December 31, 2024
Term deposits	$	21,653	$	—	$	—	$	21,653
U.S. treasury securities	19,778		18		—		19,796
Corporate debt securities	20,000		—		(26)		19,974
Total	$	61,431	$	18	$	(26)	$	61,423
Balance as of March 31, 2025
Term deposits	$	23,543	$	—	$	—	$	23,543
U.S. treasury securities	9,865		30		—		9,895
Corporate debt securities	20,000		5		(15)		19,990
Total	$	53,408	$	35	$	(15)	$	53,428

Schedule of Maturities of Marketable Securities

The following table summarizes the maturities of the Company’s marketable securities as of December 31, 2024 and March 31, 2025 (in thousands):

	December 31, 2024				March 31, 2025
	Available-for-sale securities		Held-to-maturity securities		Available-for-sale securities		Held-to-maturity securities
Due within one year	$	499	$	46,450	$	—	$	38,424
Due after one year through five years	—		14,981		—		14,984
Total	$	499	$	61,431	$	—	$	53,408

Schedule of Proceeds from the Maturities of Marketable Securities

The following table summarizes the purchases of and proceeds from marketable securities for the three months ended March 31, 2024 and 2025 (in thousands):

	For the three months ended March 31,
	2024		2025
Purchases of marketable securities
Purchases of held-to-maturity securities	$	—	$	25,635
Total purchases of marketable securities	$	—	$	25,635
Proceeds from marketable securities
Maturities of available-for-sale securities	$	—	$	500
Maturities of held-to-maturity securities	8,220		33,842
Total proceeds from marketable securities	$	8,220	$	34,342