Cash and Marketable Securities

9 Months Ended

Sep. 30, 2021

Cash and Cash Equivalents [Abstract]

Cash and Marketable Securities

CASH AND MARKETABLE SECURITIES

Cash, Cash Equivalents and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the amount reported within the condensed consolidated statements of cash flows is shown in the table below (in thousands):

	September 30, 2021		December 31, 2020		September 30, 2020		December 31, 2019
Cash and cash equivalents	$	353,082	$	134,669	$	213,798	$	38,223
Restricted cash	210		270		260		256
Total cash, cash equivalents, and restricted cash at the end of the period	$	353,292	$	134,939	$	214,058	$	38,479

Marketable Securities

All short-term marketable securities were considered held-to-maturity at September 30, 2021 and December 31, 2020. As of September 30, 2021 and December 31, 2020, some of the Company’s short-term marketable securities were in an unrealized loss position. The Company determined that it had the positive intent and ability to hold until maturity all short-term marketable securities that have been in a continuous loss position, thus there was no recognition of any other-than-temporary impairment as of September 30, 2021 and December 31, 2020. All short-term marketable securities with unrealized losses as of each balance sheet date have been in a loss position for less than twelve months. Contractual maturities of the short-term marketable securities are within one year or less as of September 30, 2021.

The long-term marketable equity securities were recorded at fair market value. The long-term marketable debt securities were considered available-for-sale at September 30, 2021. The contractual maturity of the long-term marketable debt securities are less than three years.

The amortized cost, gross unrealized holding losses, and fair value of the Company’s marketable securities by major security type at each balance sheet date are summarized in the tables below (in thousands):

	September 30, 2021
	Amortized Cost		Unrealized Holding Gains (Losses)		Fair Value
Short-term marketable securities:
Corporate debt securities	$	10,199	$	(2)	$	10,197
Total short-term marketable securities	10,199		(2)		10,197
Long-term marketable securities:
Corporate equity securities	5,000		(167)		4,833
Corporate debt securities	500		—		500
Total long-term marketable securities	5,500		(167)		5,333
Total	$	15,699	$	(169)	$	15,530

	December 31, 2020
	Amortized Cost		Unrealized Holding Losses		Fair Value
Short-term marketable securities:
Corporate debt securities	$	90,034	$	(136)	$	89,898
Total short-term marketable securities	$	90,034	$	(136)	$	89,898

Contractual maturities of the marketable securities at each balance sheet date are as follows (in thousands):

	September 30, 2021		December 31, 2020
Within one year	$	10,199	$	90,034
After one year through five years	500		—
Total	$	10,699	$	90,034