| INVESTMENTS |
4. INVESTMENTS The carrying value and amortized cost of the Company’s available-for-sale debt securities, summarized by type of security, consisted of the following: | | | | | | | | | | | June 30, 2026 | | | Amortized | | Unrealized | | Unrealized | | | Fair | | | Cost | | Gains | | Losses | | | Value | Short-term: | | | | | | | | | | Commercial paper | $ | 44,520 | | 6 | | (38) | | $ | 44,488 | Corporate debt securities | | 66,101 | | 4 | | (53) | | | 66,052 | U.S. government securities | | 7,489 | | — | | (7) | | | 7,482 | Total short-term investments | $ | 118,110 | | 10 | | (98) | | $ | 118,022 | | | | | | | | | | | Long-term: | | | | | | | | | | Corporate debt securities | | 260,098 | | 35 | | (551) | | | 259,582 | U.S. government securities | | 35,208 | | 9 | | (131) | | | 35,086 | Total long-term investments | $ | 295,306 | | 44 | | (682) | | $ | 294,668 |
| | | | | | | | | | | December 31, 2025 | | | Amortized | | Unrealized | | Unrealized | | | Fair | | | Cost | | Gains | | Losses | | | Value | Short-term: | | | | | | | | | | Commercial paper | $ | 7,558 | | 7 | | — | | $ | 7,565 | Corporate debt securities | | 15,261 | | 12 | | — | | | 15,273 | Total short-term investments | $ | 22,819 | | 19 | | — | | $ | 22,838 | | | | | | | | | | | Long-term: | | | | | | | | | | Commercial paper | $ | 805 | | 1 | | — | | $ | 806 | Corporate debt securities | | 88,626 | | 248 | | — | | | 88,874 | U.S. government securities | | 17,369 | | 78 | | — | | | 17,447 | Total long-term investments | $ | 106,800 | | 327 | | — | | $ | 107,127 |
The Company classifies investments with an original maturity of less than one year as current and investments with an original maturity date of greater than one year as noncurrent in its unaudited condensed consolidated balance sheet. The investments classified as noncurrent have original maturity dates ranging from 1-2 years. The Company did not have any available-for-sale debt security investments in a continuous unrealized loss position of greater than 12 months as of June 30, 2026, and December 31, 2025, respectively.
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