Short-Term Investment

3 Months Ended

Mar. 31, 2025

Short-Term Investments [Abstract]

Short-Term Investment

Note 3 – Short-Term Investments

Short-term investments, principally U.S. Treasury bills, are available-for-sale and consisted of the following (in thousands):

	As of March 31, 2025
	Amortized Cost		Unrealized Gain, Net		Estimated Fair Value
U.S. Treasury securities	$	201,308	$	33	$	201,341

	As of December 31, 2024
	Amortized Cost		Unrealized Gain, Net		Estimated Fair Value
U.S. Treasury securities	$	220,327	$	190	$	220,517

All available-for-sale securities held as of March 31, 2025 and December 31, 2024 had a maturity of less than one year. The Company has classified all marketable securities, regardless of maturity, as short-term investments based upon the Company’s ability and intent to use any and all of those marketable securities to satisfy the Company’s liquidity requirements.