Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 and December 31, 2023:

	March 31, 2024
(in thousands)	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. government agency securities	$	15,803	$	—	$	(244)	$	15,559
U.S. municipal securities	4,636		—		(63)		4,573
Total marketable securities	$	20,439	$	—	$	(307)	$	20,132

	December 31, 2023
(in thousands)	Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. government agency securities	$	16,798	$	—	$	(278)	$	16,520
Corporate debt securities	2,511		—		(19)		2,492
U.S. municipal securities	7,876		—		(105)		7,771
Certificates of deposit/time deposits	249		—		—		249
Total marketable securities	$	27,434	$	—	$	(402)	$	27,032

Investments Classified by Contractual Maturity Date

The March 31, 2024 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)	March 31, 2024
Due in one year or less	$	16,875
Due after one year through five years	3,257
Total marketable securities	$	20,132