Significant Accounting Policies (Policies)	3 Months Ended
Mar. 31, 2025
Significant Accounting Policies
Cash, Cash Equivalents and Short-term Investments	Cash and cash equivalents consist of cash on hand and highly liquid investments with original maturities of 90 days or less. Cash equivalents consist primarily of money market funds, U.S. government and agency securities and deposit accounts. Cash equivalents are carried on the balance sheet at fair market value. Short-term investments are highly liquid investments with original maturities of greater than 90 days but less than one year from date of purchase and are carried on the balance sheet at fair value. We evaluate if any declines in fair value below amortized cost are caused by expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs. Our short-term investments consist primarily of U.S. government and agency securities. As of March 31, 2025, our short-term investments are classified as available-for-sale as a result of the below noted sale of securities. In prior periods, our short-term investments were classified as held-to-maturity. Any unrealized gains and losses are included in accumulated other comprehensive loss in the Consolidated Statement of Stockholder’s Equity. Income related to these securities is recorded in interest income in the Consolidated Statements of Operations. As of March 31, 2025, the amortized cost and fair value of the available-for-sale investments was $403.0 million and $403.1 million, respectively. As of March 31, 2025, we had no allowances for credit loss. In February 2025, we sold securities classified as held-to-maturity with a total net carrying value of $199.5 million. The majority of the proceeds were reinvested back into short-term investments as of March 31, 2025. Due to this sale, the remaining held-to-maturity securities were reclassified as available-for-sale, resulting in a remeasurement increase in short-term investments for balance sheet presentation purposes with a corresponding adjustment to accumulated other comprehensive loss of $81.0 thousand as of March 31, 2025.

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2025

Cash, Cash Equivalents and Short-term Investments

Cash and cash equivalents consist of cash on hand and highly liquid investments with original maturities of 90 days or less. Cash equivalents consist primarily of money market funds, U.S. government and agency securities and deposit accounts. Cash equivalents are carried on the balance sheet at fair market value. Short-term investments are highly liquid investments with original maturities of greater than 90 days but less than one year from date of purchase and are carried on the balance sheet at fair value. We evaluate if any declines in fair value below amortized cost are caused by expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs. Our short-term investments consist primarily of U.S. government and agency securities. As of March 31, 2025, our short-term investments are classified as available-for-sale as a result of the below noted sale of securities. In prior periods, our short-term investments were classified as held-to-maturity. Any unrealized gains and losses are included in accumulated other comprehensive loss in the Consolidated Statement of Stockholder’s Equity. Income related to these securities is recorded in interest income in the Consolidated Statements of Operations. As of March 31, 2025, the amortized cost and fair value of the available-for-sale investments was $403.0 million and $403.1 million, respectively. As of March 31, 2025, we had no allowances for credit loss.

In February 2025, we sold securities classified as held-to-maturity with a total net carrying value of $199.5 million. The majority of the proceeds were reinvested back into short-term investments as of March 31, 2025. Due to this sale, the remaining held-to-maturity securities were reclassified as available-for-sale, resulting in a remeasurement increase in short-term investments for balance sheet presentation purposes with a corresponding adjustment to accumulated other comprehensive loss of $81.0 thousand as of March 31, 2025.