Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

The following is a summary of available-for-sale and held-to-maturity securities as of March 31, 2023 (in thousands):

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Losses)		Estimated Fair Value
Available-for-sale securities:
Tax-exempt municipal securities	$	14,793	$	2	$	(400)	$	14,395
Corporate debt securities	6,237		—		(170)		6,067
Total available-for sale securities	$	21,030	$	2	$	(570)	$	20,462
Held-to-maturity securities:
Term deposits	$	16,727	$	—	$	—	$	16,727

The following is a summary of available-for-sale securities as of December 31, 2022 (in thousands):

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Losses)		Estimated Fair Value
Available-for-sale securities:
Tax-exempt municipal securities	$	15,852	$	2	$	(507)	$	15,347
Corporate debt securities	7,140		—		(208)		6,932
Total	$	22,992	$	2	$	(715)	$	22,279

Schedule of Maturities of Marketable Securities

The following table summarizes the maturities of the Company’s marketable securities as of December 31, 2022 and March 31, 2023 (in thousands):

	December 31, 2022				March 31, 2023
	Available-for-sale securities		Held-to-maturity securities		Available-for-sale securities		Held-to-maturity securities
Due within one year	$	9,156	$	—	$	7,763	$	16,727
Due after one year through three years	13,123		—		12,699		—
Total	$	22,279	$	—	$	20,462	$	16,727

Schedule of Proceeds from the Maturities of Available-for-Sale Securities

The following table summarizes the proceeds from the maturities and sales of available-for-sale securities for the three months ended March 31, 2022 and 2023 (in thousands):

	For the three months ended March 31,
	2022		2023
Maturities of marketable securities	$	1,100	$	1,960
Sales of marketable securities	—		—
Total	$	1,100	$	1,960