Marketable securities

6 Months Ended

Jun. 30, 2025

Marketable securities as of June 30, 2025 consisted of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities, current:
Corporate debt securities	$	119,375	$	40	$	(73)	$	119,342
U.S. Treasury securities	15,858		—		(3)		15,855
U.S. government debt securities	1,200		—		—		1,200
Marketable securities, non-current:
Corporate debt securities	5,905		11		(3)		5,913
U.S. Treasury securities	1,508		—		—		1,508
U.S. government debt securities	1,000		—		(2)		998
Total marketable securities, current and non-current	$	144,846	$	51	$	(81)	$	144,816

Marketable securities as of December 31, 2024 consisted of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities, current:
Corporate debt securities	$	164,469	$	189	$	(85)	$	164,573
U.S. government debt securities	6,527		4		—		6,531
U.S. Treasury securities	18,291		12		(1)		18,302
Marketable securities, non-current:
Corporate debt securities	22,424		12		(78)		22,358


Total marketable securities, current and non-current	$	211,711	$	217	$	(164)	$	211,764

Marketable securities classified as current have maturities of less than one year and are classified as available-for-sale. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) are not intended to be liquidated within the next twelve months, although these funds are available for use and, therefore, are

classified as available-for-sale. No available-for-sale debt securities held as of June 30, 2025 or December 31, 2024 had remaining maturities greater than five years.

Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at June 30, 2025 and December 31, 2024, related to these securities.