Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Sep. 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 September 30, 2022 and December 31, 2021 (in thousands):

	As of September 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	$	94,638	$	—	$	—	$	94,638	$	94,638	$	—	$	—	$	—
Level 1:
Money market funds		6,982		—		—		6,982		6,982		—		—		—
Agency bonds		68,072		6		(69)		68,009		28,000		—		35,763		4,246
Treasury bills		55,520		2		(162)		55,360		14,999		—		40,361		—
Marketable securities		90,000		—		(54,720)		35,280		—		35,280		—		—
Subtotal		220,574		8		(54,951)		165,631		49,981		35,280		76,124		4,246
Level 2:
State and municipal obligations		6,935		—		(54)		6,881		—		—		6,881		—
Corporate bonds		75,412		6		(1,233)		74,185		2,096		—		47,799		24,290
Commercial paper		64,819		—		—		64,819		996		—		63,823		—
Subtotal		147,166		6		(1,287)		145,885		3,092		—		118,503		24,290
Total	$	462,378	$	14	$	(56,238)	$	406,154	$	147,711	$	35,280	$	194,627	$	28,536

	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