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Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Cash and Cash Equivalents, Money Market Funds and Short-term Investments by Significant Investment Category
The following tables show the Company’s short-term investments and cash equivalents by significant investment category as of March 31, 2025 and December 31, 2024 (in thousands):
As of March 31, 2025As of December 31, 2024
Adjusted
Cost
Unrealized
Gains
Unrealized
Losses
Market
Value
Adjusted
Cost
Unrealized
Gains
Unrealized
Losses
Market
Value
Money Market FundsLevel 1$55,434 $— $— $55,434 $54,825 $— $— $54,825 
U.S. Treasury securitiesLevel 22,997 — 2,998 9,968 — 9,975 
U.S. Government agency securitiesLevel 261,045 125 — 61,170 77,769 235 — 78,004 
Corporate debt securitiesLevel 2158,626 72 (40)158,658 196,479 160 (82)196,557 
Total financial assets$278,102 $198 $(40)$278,260 $339,041 $402 $(82)$339,361 

As of March 31, 2025As of December 31, 2024
Adjusted
Cost
Unrealized
Gains
Unrealized
Losses
Market
Value
Adjusted
Cost
Unrealized
Gains
Unrealized
Losses
Market
Value
Classified as:
Cash equivalents$64,551 $— $— $64,551 $54,825 $— $— $54,825 
Short-term investments213,551 198 (40)213,709 284,216 402 (82)284,536 
Total$278,102 $198 $(40)$278,260 $339,041 $402 $(82)$339,361