Marketable Securities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2023 (in thousands):

	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Losses)		Estimated Fair Value
Available-for-sale securities:
Tax-exempt municipal securities	$	14,835	$	1	$	(365)	$	14,471
Corporate debt securities	3,205		—		(152)		3,053
Total available-for sale securities	$	18,040	$	1	$	(517)	$	17,524
Held-to-maturity securities:
Term deposits	$	16,553	$	—	$	—	$	16,553

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 June 30, 2023 (in thousands):

	December 31, 2022				June 30, 2023
	Available-for-sale securities		Held-to-maturity securities		Available-for-sale securities		Held-to-maturity securities
Due within one year	$	9,156	$	—	$	8,915	$	16,553
Due after one year through three years	13,123		—		8,609		—
Total	$	22,279	$	—	$	17,524	$	16,553

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 and six months ended June 30, 2022 and 2023 (in thousands):

	For the three months ended June 30,				For the six months ended June 30,
	2022		2023		2022		2023
Maturities of marketable securities	$	1,000	$	3,000	$	2,100	$	4,960
Sales of marketable securities	—		—		—		—
Total	$	1,000	$	3,000	$	2,100	$	4,960