Investments in Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Unrealized and Realized Gains/(Losses) and Dividend Income on Marketable Securities

Dividend and interest income from marketable securities and realized and unrealized gain on marketable securities, net, related to the Company’s available-for-sale securities for the three and six months ended June 30, 2024 and trading securities for the three and six months ended June 30, 2023 were as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Dividend income from marketable securities	$	368	$	2,483	$	1,343	$	4,702
Interest income from marketable securities	$	2,519	$	—	$	5,118	$	—
(Loss) gain on marketable securities, net	$	—	$	(1,181)	$	—	$	1,761

Schedule of Available-for-Sale Securities Reconciliation

The following is a summary of the Company’s available-for-sale securities recorded within Marketable securities in the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 (in thousands):

	June 30, 2024
	Amortized Costs		Gross Realized Gains		Gross Unrealized Gains		Fair Value
Financial Assets:
Short-term marketable securities:
U.S. Treasury securities	$	148,864	$	—	$	—	$	148,864
Commercial paper	9,701		—		—		9,701
Total	$	158,565	$	—	$	—	$	158,565

	December 31, 2023
	Amortized Costs		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Financial Assets:
Short-term marketable securities:
U.S. Treasury securities	$	82,625	$	15	$	—	$	82,640
Commercial paper	41,229		7		—		41,236
Total	$	123,854	$	22	$	—	$	123,876

Investments Classified by Contractual Maturity Date

The fair values of the Company’s available-for-sale securities included within Marketable securities in the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023, by remaining contractual maturity, are as follows (in thousands):

	June 30, 2024
	One Year or Less		Over One Year Through Five Years		Over Five Years		Total
Financial Assets:
Short-term marketable securities:
U.S. Treasury securities	$	148,864	$	—	$	—	$	148,864
Commercial paper	9,701		—		—		9,701
Total	$	158,565	$	—	$	—	$	158,565

	December 31, 2023
	One Year or Less		Over One Year Through Five Years		Over Five Years		Total
Financial Assets:
Short-term marketable securities:
U.S. Treasury securities	$	82,640	$	—	$	—	$	82,640
Commercial paper	41,236		—		—		41,236
Total	$	123,876	$	—	$	—	$	123,876