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Available-for-Sale Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2021
Investments Debt And Equity Securities [Abstract]  
Summary of Available-for-Sale Marketable Securities by Major Type of Security

The following tables summarize the Company’s available-for-sale marketable securities by major type of security as of December 31, 2021 and 2020:

As of December 31, 2021

Gross Unrealized

Estimated Fair

Type of Security

    

Amortized Cost

    

Gains

    

Losses

    

Value

U.S. Treasury securities

$

11,573

$

$

(3)

$

11,570

U.S. government agency obligations

 

17,020

 

 

(45)

 

16,975

Corporate bonds

 

66,495

 

 

(171)

 

66,324

Commercial paper

106,914

5

(31)

106,888

Municipal bonds

 

21,692

 

 

(113)

 

21,579

Total available-for-sale marketable securities

$

223,694

$

5

$

(363)

$

223,336

As of December 31, 2020

Gross Unrealized

Estimated Fair

Type of Security

    

Amortized Cost

    

Gains

    

Losses

    

Value

U.S. Treasury securities

$

20,710

$

41

$

(1)

$

20,750

U.S. government agency obligations

 

22,125

 

4

 

(1)

 

22,128

Corporate bonds

 

49,080

 

61

 

(23)

 

49,118

Commercial paper

 

116,139

 

5

 

(17)

 

116,127

Municipal bonds

11,680

12

(8)

11,684

Total available-for-sale marketable securities

$

219,734

$

123

$

(50)

$

219,807

Schedule of Fair Values and Continuous Unrealized Loss Positions of Available-for-Sale Marketable Securities

The following tables summarize the fair value and gross unrealized losses of the Company’s available-for-sale marketable securities by investment category and disaggregated by the length of time that individual debt securities have been in a continuous unrealized loss position as of December 31, 2021 and 2020:

As of December 31, 2021

Less than 12 Months

12 Months or Greater

Total

Gross

Gross

Gross

Fair

Unrealized

Fair

Unrealized

Fair 

Unrealized

    

 Value

    

Losses

    

Value

    

Losses

    

Value

    

Losses

U.S. Treasury securities

$

11,570

$

(3)

$

$

$

11,570

$

(3)

U.S. government agency obligations

 

9,456

 

(45)

 

 

 

9,456

 

(45)

Corporate bonds

62,704

(170)

2,020

(1)

64,724

(171)

Commercial paper

52,163

(31)

52,163

(31)

Municipal bonds

 

20,562

 

(105)

 

1,017

 

(8)

 

21,579

 

(113)

Total

$

156,455

$

(354)

$

3,037

$

(9)

$

159,492

$

(363)

As of December 31, 2020

Less than 12 Months

12 Months or Greater

Total

Gross

Gross

Gross

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

    

 Value

    

Losses

    

 Value

    

Losses

    

 Value

    

Losses

U.S. Treasury securities

$

12,682

$

(1)

$

$

$

12,682

$

(1)

U.S. government agency obligations

2,500

(1)

2,500

(1)

Corporate bonds

 

23,553

 

(23)

 

 

 

23,553

 

(23)

Commercial paper

 

68,897

 

(17)

 

 

 

68,897

 

(17)

Municipal bonds

 

6,259

 

(8)

 

 

 

6,259

 

(8)

Total

$

113,891

$

(50)

$

$

$

113,891

$

(50)

Schedule of Amortized Cost and Fair Values of Marketable Debt Securities by Contractual Maturity

The Company classifies its marketable debt securities based on their contractual maturity dates. As of December 31, 2021, the Company’s marketable debt securities mature at various dates through November 2024. The amortized cost and fair values of marketable debt securities by contractual maturity were as follows:

As of December 31, 2021

As of December 31, 2020

Contractual maturity

    

Amortized Cost

    

Fair Value

    

Amortized Cost

    

Fair Value

Less than one year

$

153,631

$

153,582

$

149,164

$

149,242

One year to three years

 

70,063

 

69,754

 

70,570

 

70,565

Total

$

223,694

$

223,336

$

219,734

$

219,807