8. CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Cash, cash equivalents and short-term investments consisted of the following (in thousands):

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Cash equivalents and short-term investments include the following securities with gross unrealized gains and losses (in thousands):

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As of December 31, 2024 and 2023, our cash equivalents and short-term investments had a weighted-average time to maturity of approximately 69 days and 82 days, respectively. Our short-term investments are classified as available-for-sale securities. Accordingly, we have classified certain securities as short-term investments on our balance sheets as they are available for use in the current operations. As of December 31, 2024, there were no individual securities that were in a significant unrealized loss position, and no individual securities have been in a loss position for more than one year. We regularly review the securities in an unrealized loss position and evaluate the current expected credit loss by considering factors such as historical experience, market data, issuer-specific factors, and current economic conditions. We have not recognized any credit losses on these securities as of December 31, 2024 and 2023.