Investments

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

Available-for-sale securities

The Company’s portfolio of available-for-sale marketable securities consists of the following:

	December 31, 2023
	Amortized Cost		Gross unrealized				Estimated Fair Value
(In thousands)			Gains		Losses
Available-for-sale securities, current portion
U.S. government securities	$	5,169	$	1	$	—	$	5,170
Corporate debt securities	9,673		5		(4)		9,674
Other debt securities	1,443		1		—		1,444
Total short-term	16,285		7		(4)		16,288
Available-for-sale securities, long-term
Other debt securities	545		3		—		548
Total available-for-sale securities	$	16,830	$	10	$	(4)	$	16,836

(In thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	16,285	$	16,288
Due after one year through five years	545		548
Total	$	16,830	$	16,836

There were no outstanding available-for-sale marketable securities as of December 31, 2022.

As of December 31, 2023, none of our available-for-sale marketable securities exhibited risk of credit loss and therefore no allowance for credit losses was recorded.

Equity investments

The Company periodically invests in non-marketable equity securities of private companies without a readily determinable fair value to promote business and strategic objectives. The non-marketable equity securities are carried at cost minus impairment, if any, plus or minus changes resulting from observable process changes in orderly transactions for identical or similar investments of the same issuer. These securities included Series A-1 and A-2 Preferred Stock in iVexSol, Inc. with a fair value of $4.1 million as of December 31, 2023 and December 31, 2022, and Series E Preferred Stock in PanTHERA CryoSolutions, Inc. with a fair value of $995,000 as of December 31, 2023 and December 31, 2022.