Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-Sale

The following table summarizes information regarding the Company’s short-term and long-term marketable securities as of June 30, 2023 and December 31, 2022:

	June 30, 2023
(in thousands)	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. municipal securities	$	12,229	$	-	$	(293)	$	11,936
Corporate debt securities	4,050		-		(93)		3,957
U.S. government agency securities	20,787		-		(637)		20,150
Certificates of deposit/time deposits	249		-		(3)		246
Total marketable securities	$	37,315	$	-	$	(1,026)	$	36,289

	December 31, 2022
(in thousands)	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. municipal securities	$	15,574	$	-	$	(417)	$	15,157
Corporate debt securities	9,578		-		(205)		9,373
U.S. government agency securities	25,275		-		(750)		24,525
Certificates of deposit/time deposits	939		-		(7)		932
Total marketable securities	$	51,366	$	-	$	(1,379)	$	49,987

Investments Classified by Contractual Maturity Date

The June 30, 2023 balance of available-for-sale debt securities by contractual maturity is shown in the following table at fair value. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

(in thousands)	June 30, 2023
Due in one year or less	$	19,945
Due after one year through five years	16,344
Total marketable securities	$	36,289