Marketable Investments

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable Investments

Note 2 – Marketable Investments

The following table summarizes the Company’s marketable investments (in thousands):

	As of December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	18,049	$	—	$	(72	)	$	17,977
Federal agency obligations		2,000		—		(7	)		1,993
Money market funds		31,610		—		—			31,610
Total	$	51,659	$	—	$	(79	)	$	51,580

	As of December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	17,900	$	8	$	(205	)	$	17,703
Federal agency obligations		1,999		—		(14	)		1,985
Total	$	19,899	$	8	$	(219	)	$	19,688

Realized gains and losses on investments are included in earnings and are determined using the specific identification method. There were no realized gains or losses on marketable investments during the years ended December 31, 2023, 2022, and 2021.

The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of December 31, 2023 (in thousands):

	2024		2025		Total
Corporate obligations	$	16,037	$	1,940	$	17,977
Federal agency obligations		1,993		—		1,993
Money market funds		31,610		—		31,610
Total	$	49,640	$	1,940	$	51,580

The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	As of December 31, 2023
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	13,098	$	8	$	4,879	$	64
Federal agency obligations		—		—		1,993		7
Total	$	13,098	$	8	$	6,872	$	71

	As of December 31, 2022
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	9,619	$	139	$	8,084	$	66
Federal agency obligations		1,985		14		—		—
Total	$	11,604	$	153	$	8,084	$	66