Cash Equivalents and Short-Term Investments (Tables)

3 Months Ended

Mar. 31, 2025

Cash and Cash Equivalents [Abstract]

Schedule of Amortized Cost, Unrealized Gain and Loss and Estimated Fair Value

The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments:

	March 31, 2025
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents
Money market funds	$	78,301	$	—	$	—	$	78,301
Total cash equivalents	$	78,301	$	—	$	—	$	78,301
Short-term investments
Commercial paper	$	25,110	$	3	$	(1)	$	25,112
Corporate bonds	95,797		194		(8)		95,983
Asset backed securities	30,133		21		(8)		30,146
Yankee bonds	10,043		12		—		10,055
U.S. Treasury and agency obligations	65,425		127		(12)		65,540
Total short-term investments	$	226,508	$	357	$	(29)	$	226,836

	December 31, 2024
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents
Money market funds	$	190,750	$	—	$	—	$	190,750
Total cash equivalents	$	190,750	$	—	$	—	$	190,750
Short-term investments
Commercial paper	$	41,610	$	—	$	(6)	$	41,604
Corporate bonds	95,267		208		(65)		95,410
Asset backed securities	30,740		63		(7)		30,796
Yankee bonds	13,998		16		(7)		14,007
U.S. Treasury and agency obligations	66,614		155		(39)		66,730
Total short-term investments	$	248,229	$	442	$	(124)	$	248,547

Schedule of Contractual Maturities on Short-Term Investments

The contractual maturities of our short-term investments are as follows:

	March 31, 2025				December 31, 2024
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	172,949	$	173,187	$	204,156	$	204,532
Due between one and two years	53,559		53,649		44,073		44,015
Total short-term investments	$	226,508	$	226,836	$	248,229	$	248,547