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Available-for-Sale Marketable Securities (Tables)
12 Months Ended
Dec. 31, 2023
Available-for-Sale Marketable Securities  
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, 2023 and 2022:

As of December 31, 2023

Gross Unrealized

Estimated Fair

Type of Security

    

Amortized Cost

    

Gains

    

Losses

    

Value

U.S. Treasury securities

$

37,243

$

3

$

$

37,246

U.S. government agency obligations

 

7,500

 

 

(262)

 

7,238

Corporate bonds

 

4,500

 

 

(1)

 

4,499

Total available-for-sale marketable securities

$

49,243

$

3

$

(263)

$

48,983

As of December 31, 2022

Gross Unrealized

Estimated Fair

Type of Security

    

Amortized Cost

    

Gains

    

Losses

    

Value

U.S. government agency obligations

$

9,500

$

$

(623)

$

8,877

Corporate bonds

 

35,828

 

 

(643)

 

35,185

Commercial paper

 

26,879

 

2

 

(6)

 

26,875

Municipal bonds

22,473

(402)

22,071

Total available-for-sale marketable securities

$

94,680

$

2

$

(1,674)

$

93,008

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, 2023 and 2022:

As of December 31, 2023

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. government agency obligations

$

$

$

7,238

$

(262)

$

7,238

$

(262)

Corporate bonds

2,000

(1)

2,000

(1)

Total

$

$

$

9,238

$

(263)

$

9,238

$

(263)

As of December 31, 2022

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. government agency obligations

$

$

$

8,877

$

(623)

$

8,877

$

(623)

Corporate bonds

 

1,470

 

(26)

 

33,715

 

(617)

 

35,185

 

(643)

Commercial paper

 

15,906

 

(6)

 

 

 

15,906

 

(6)

Municipal bonds

 

982

 

(16)

 

19,589

 

(386)

 

20,571

 

(402)

Total

$

18,358

$

(48)

$

62,181

$

(1,626)

$

80,539

$

(1,674)

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

As of December 31, 2023

As of December 31, 2022

Contractual maturity

    

Amortized Cost

    

Fair Value

    

Amortized Cost

    

Fair Value

Less than one year

$

49,243

$

48,983

$

82,678

$

81,658

One year to two years

 

 

 

12,002

 

11,350

Total

$

49,243

$

48,983

$

94,680

$

93,008