MARKETABLE SECURITIES

3 Months Ended

Mar. 31, 2026

The Company’s marketable securities consisted of the following (in thousands):


	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities, short-term
Corporate debt securities	$	47,015	$	36	$	(15)	$	47,036

Government and agency - U.S.	29,566		7		(7)		29,566
Total available-for-sale securities, short-term	$	76,581	$	43	$	(22)	$	76,602


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities, short-term
Corporate debt securities	$	62,793	$	88	$	(5)	$	62,876


Total available-for-sale securities, short-term	$	62,793	$	88	$	(5)	$	62,876

The following tables summarize the amount of unrealized losses, defined as the amount by which the amortized cost exceeds fair value, and the related fair value of available-for-sale marketable securities with unrealized losses, which have been segregated into two categories: those that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 or more months (in thousands):


	March 31, 2026
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	22,381	$	(15)	$	—	$	—	$	22,381	$	(15)
Government and agency - U.S.	20,826		(7)		—		—		20,826		(7)
Total	$	43,207	$	(22)	$	—	$	—	$	43,207	$	(22)


	December 31, 2025
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	6,036	$	(3)	$	5,119	$	(2)	$	11,155	$	(5)

Total	$	6,036	$	(3)	$	5,119	$	(2)	$	11,155	$	(5)

As of March 31, 2026, all of the Company’s available-for-sale securities mature in less than one year. As noted in the table above, one of the Company’s available-for-sale marketable securities, which matured during the three months ended March 31, 2026, had been in an unrealized loss position for more than 12 months as of December 31, 2025. The unrealized loss as of December 31, 2025 was immaterial and the Company does not intend to sell any of its available-for-sale securities and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. No credit losses were recognized on the Company’s available-for-sale securities during the three months ended March 31, 2026 and 2025. The Company recorded immaterial realized gains during each of the three months ended March 31, 2026 and 2025.