Investments

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Marketable debt securities held by the Company are classified as available-for-sale pursuant to ASC 320, Investments – Debt and Equity Securities, and carried at fair value in the accompanying condensed consolidated balance sheets on a settlement date basis. The following tables summarize the gross unrealized gains and losses of the Company’s marketable securities:


	March 31, 2024
			Gross Unrealized						Estimated Fair Value
(In thousands)	Amortized Cost		Gains		Losses		Credit Losses
Commercial paper	$	7,396	$	—	$	(13)	$	—	$	7,383
Corporate notes	56,803		—		(199)		—		56,604
U.S. government securities	2,473		—		(1)		—		2,472
U.S. government agency bonds	10,713		—		(29)		—		10,684
	$	77,385	$	—	$	(242)	$	—	$	77,143
Classified as:
Short-term investments									$	47,710
Long-term investments									29,433
									$	77,143


	December 31, 2023
			Gross Unrealized						Estimated Fair Value
(In thousands)	Amortized Cost		Gains		Losses		Credit Losses
Commercial paper	$	3,638	$	1	$	—	$	—	$	3,639
Corporate notes	47,228		—		(69)		—		47,159
U.S. government securities	983		—		—		—		983
U.S. government agency bonds	14,003		—		(32)		—		13,971
	$	65,852	$	1	$	(101)	$	—	$	65,752
Classified as:
Short-term investments									$	40,469
Long-term investments									25,283
									$	65,752

As of March 31, 2024 and December 31, 2023, all marketable securities held by the Company had remaining contractual maturities of three years or less. There have been no impairments of the Company’s assets measured and carried at fair value during the three months ended March 31, 2024 and 2023.