Cash, Cash Equivalents and Investments (Tables)

6 Months Ended

Jun. 30, 2022

Cash, Cash Equivalents and Investments

Summary of Cash, Cash Equivalents, Marketable Securities, and Available-for-Sale Investments

The following tables summarize our cash, cash equivalents, marketable securities, and available-for-sale investments at June 30, 2022 and December 31, 2021 (in thousands):

	As of June 30, 2022
			Gross		Gross				Cash and
	Amortized		Unrealized		Unrealized				Cash		Marketable		Short-Term		Long-Term
	Cost		Gains		Losses		Fair Value		Equivalents		Securities		Investments		Investments
Cash	$	155,582	$	—	$	—	$	155,582	$	155,582	$	—	$	—	$	—
Level 1:
Money market funds		43,550		—		—		43,550		43,550		—		—		—
Agency bonds		26,601		5		(2)		26,604		8,484		—		18,120		—
Treasury bills		28,390		—		(24)		28,366		—		—		22,690		5,676
Marketable securities		90,000		—		(44,100)		45,900		—		45,900		—		—
Subtotal		188,541		5		(44,126)		144,420		52,034		45,900		40,810		5,676
Level 2:
State and municipal obligations		5,814		1		(35)		5,780		—		—		4,257		1,523
Corporate bonds		57,609		11		(1,027)		56,593		5,199		—		33,668		17,726
Commercial paper		39,779		—		—		39,779		—		—		39,779		—
Subtotal		103,202		12		(1,062)		102,152		5,199		—		77,704		19,249
Total	$	447,325	$	17	$	(45,188)	$	402,154	$	212,815	$	45,900	$	118,514	$	24,925

	As of December 31, 2021
			Gross		Gross				Cash and
	Amortized		Unrealized		Unrealized				Cash		Marketable		Short-Term		Long-Term
	Cost		Gains		Losses		Fair Value		Equivalents		Securities		Investments		Investments
Cash	$	353,488	$	—	$	—	$	353,488	$	353,488	$	—	$	—	$	—
Level 1:
Money market funds		2,844		—		—		2,844		2,844		—		—		—
Agency bonds		10,700		4		—		10,704		—		—		10,704		—
Marketable securities		90,000		—		(17,820)		72,180		—		72,180		—		—
Subtotal		103,544		4		(17,820)		85,728		2,844		72,180		10,704		—
Level 2:
State and municipal obligations		2,570		—		(5)		2,565		—		—		1,400		1,165
Corporate bonds		32,748		1		(276)		32,473		—		—		2,406		30,067
Subtotal		35,318		1		(281)		35,038		—		—		3,806		31,232
Total	$	492,350	$	5	$	(18,101)	$	474,254	$	356,332	$	72,180	$	14,510	$	31,232