MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2024

MARKETABLE SECURITIES

MARKETABLE SECURITIES

5. MARKETABLE SECURITIES:

Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2024, were as follows:

	Amortized		Gross Unrealized				Estimated Fair
(In thousands)	Cost		Gains		Losses		Market Value
Investments due in 3 months or less:
Corporate securities	$	10,972	$	4	$	(3)	$	10,973
Total		10,972		4		(3)		10,973
Investments due in 4-12 months:
Corporate securities		87,346		159		(19)		87,486
Total		87,346		159		(19)		87,486
Investments due in 12 months or greater:
Corporate securities		149,817		860		(113)		150,564
Total		149,817		860		(113)		150,564
Total marketable securities	$	248,135	$	1,023	$	(135)	$	249,023

Accrued interest receivable was $2.8 million at December 31, 2024 and was recorded within prepaid expenses and other current assets on the consolidated balance sheet.

Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2023, were as follows:

	Amortized		Gross Unrealized				Estimated Fair
(In thousands)	Cost		Gains		Losses		Market Value
Investments due in 3 months or less:
Corporate securities	$	10,688	$	—	$	(42)	$	10,646
Total		10,688		—		(42)		10,646
Investments due in 4-12 months:
Commercial paper		718		—		—		718
Corporate securities		48,680		15		(347)		48,348
Total		49,398		15		(347)		49,066
Investments due in 12 months or greater:
Corporate securities		187,298		952		(322)		187,928
Total		187,298		952		(322)		187,928
Total marketable securities	$	247,384	$	967	$	(711)	$	247,640

Accrued interest receivable was $2.3 million at December 31, 2023 and was recorded within prepaid expenses and other current assets on the consolidated balance sheet.

As of December 31, 2024 and 2023 the Company had no marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was recorded. The following tables summarize marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at December 31, 2024 and December 31, 2023:

	Less Than 12 Months				12 Months or Longer				Total
	Estimated		Gross		Estimated		Gross		Estimated		Gross
	Fair Market		Unrealized		Fair Market		Unrealized		Fair Market		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
December 31, 2024
Corporate securities	$	33,777	$	(116)	$	13,244	$	(19)	$	47,021	$	(135)
Total marketable securities	$	33,777	$	(116)	$	13,244	$	(19)	$	47,021	$	(135)

	Less Than 12 Months				12 Months or Longer				Total
	Estimated		Gross		Estimated		Gross		Estimated		Gross
	Fair Market		Unrealized		Fair Market		Unrealized		Fair Market		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
December 31, 2023
Corporate securities	$	102,729	$	(371)	$	25,401	$	(340)	$	128,130	$	(711)
Total marketable securities	$	102,729	$	(371)	$	25,401	$	(340)	$	128,130	$	(711)

The Company does not intend to sell and it is unlikely that it will be required to sell the securities prior to their anticipated recovery. The weighted average interest rate of investments at December 31, 2024 and 2023, was approximately 5.08% and 4.87%, respectively. In the years ended December 31, 2024 and 2023, no unrealized losses on marketable securities were recognized in income.