Cash, Cash Equivalents and Investments

3 Months Ended

Mar. 31, 2022

Cash, Cash Equivalents and Investments

Cash, Cash Equivalents and Investments

Note 3 - Cash, Cash Equivalents and Investments

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

	As of March 31, 2022
			Gross		Gross				Cash and
	Amortized		Unrealized		Unrealized				Cash		Marketable		Short-Term		Long-Term
	Cost		Gains		Losses		Fair Value		Equivalents		Securities		Investments		Investments
Cash	$	376,031	$	—	$	—	$	376,031	$	376,031	$	—	$	—	$	—
Level 1:
Money market funds		10,336		—		—		10,336		10,336		—		—		—
Agency bonds		4,700		1		—		4,701		—		—		4,701		—
Marketable securities		90,000		—		(32,400)		57,600		—		57,600		—		—
Subtotal		105,036		1		(32,400)		72,637		10,336		57,600		4,701		—
Level 2:
State and municipal obligations		2,550		—		(30)		2,520		—		—		1,759		761
Corporate bonds		31,409		—		(875)		30,534		—		—		13,564		16,970
Subtotal		33,959		—		(905)		33,054		—		—		15,323		17,731
Total	$	515,026	$	1	$	(33,305)	$	481,722	$	386,367	$	57,600	$	20,024	$	17,731

During the year ended December 31, 2021, we acquired 9,000,000 shares of common stock of Cellebrite DI Ltd (“CLBT”) with a fair value of $90.0 million. The CLBT common stock is recorded as marketable securities in the accompanying condensed consolidated balance sheets and its fair value is adjusted every reporting period. Changes in fair value are recorded in the condensed consolidated statement of operations as unrealized gain or (loss) on marketable securities, which is included in interest and other income, net. During the three months ended March 31, 2022, we recorded a $14.6 million unrealized loss on marketable securities relating to CLBT.

	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