| Marketable Securities |
NOTE 5. MARKETABLE SECURITIES The composition of our short-term and long-term marketable securities was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | (In thousands) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross Unrealized Losses | | Fair
Value | Short-term: | | | | | | | | | | | | | Municipal bonds | | $ | 7,225 | | $ | 5 | | $ | (36) | | $ | 7,194 | Corporate debt securities | | | 33,430 | | | 4 | | | (151) | | | 33,283 | Asset-backed securities | | | 21 | | | — | | | — | | | 21 | Government, federal agency, and other sovereign obligations | | | 31,597 | | | 11 | | | (166) | | | 31,442 | Total short-term marketable securities | | $ | 72,273 | | $ | 20 | | $ | (353) | | $ | 71,940 | | | | | | | | | | | | | | Long-term: | | | | | | | | | | | | | Corporate debt securities | | | 1,749 | | | — | | | — | | | 1,749 | Asset-backed securities | | | 10,625 | | | — | | | (77) | | | 10,548 | Government, federal agency, and other sovereign obligations | | | — | | | — | | | — | | | — | Total long-term marketable securities | | $ | 12,374 | | $ | — | | $ | (77) | | $ | 12,297 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | (In thousands) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | Short-term: | | | | | | | | | | | | | Municipal bonds | | $ | 11,210 | | $ | — | | $ | (224) | | $ | 10,986 | Corporate debt securities | | | 38,416 | | | — | | | (853) | | | 37,563 | Government, federal agency, and other sovereign obligations | | | 2,004 | | | — | | | (56) | | | 1,948 | Total short-term marketable securities | | $ | 51,630 | | $ | — | | $ | (1,133) | | $ | 50,497 | | | | | | | | | | | | | | Long-term: | | | | | | | | | | | | | Municipal bonds | | $ | 7,180 | | $ | — | | $ | (109) | | $ | 7,071 | Corporate debt securities | | | 21,707 | | | — | | | (432) | | | 21,275 | Asset-backed securities | | | 17,499 | | | — | | | (338) | | | 17,161 | Government, federal agency, and other sovereign obligations | | | 30,363 | | | — | | | (442) | | | 29,921 | Total long-term marketable securities | | $ | 76,749 | | $ | — | | $ | (1,321) | | $ | 75,428 |
The short-term marketable securities have effective maturity dates of less than one year and the long-term marketable securities have effective maturity dates ranging from one to three years as of September 30, 2024 and December 31, 2023, respectively.
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