Investments

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

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:

	September 30, 2025
			Gross Unrealized						Estimated Fair Value
(In thousands)	Amortized Cost		Gains		Losses		Credit Losses
Commercial paper	$	2,950	$	1	$	(1)	$	—	$	2,950
Corporate notes	71,328		286		(17)		—		71,597
U.S. government agency bonds	10,105		6		(17)		—		10,094
	$	84,383	$	293	$	(35)	$	—	$	84,641
Classified as:
Short-term investments									$	34,977
Long-term investments									49,664
									$	84,641

	December 31, 2024
			Gross Unrealized						Estimated Fair Value
(In thousands)	Amortized Cost		Gains		Losses		Credit Losses
Commercial paper	$	1,953	$	1	$	(1)	$	—	$	1,953
Corporate notes	71,733		117		(87)		—		71,763
U.S. government agency bonds	7,883		4		(30)		—		7,857
	$	81,569	$	122	$	(118)	$	—	$	81,573
Classified as:
Short-term investments									$	41,693
Long-term investments									39,880
									$	81,573

As of September 30, 2025 and December 31, 2024, 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 and nine months ended September 30, 2025 and 2024.