Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 31, 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 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

	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