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Short-term and Long-term Investments
6 Months Ended
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Short-term and Long-term Investments Short-term and Long-term Investments
The Company's investments are classified as available-for-sale. The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of June 30, 2022:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate
Fair Value
U.S. government debt securities$84,568 $— $(1,335)$83,233 
Certificates of deposit97 — — 97 
Total$84,665 $— $(1,335)$83,330 
The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of December 31, 2021:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate
Fair Value
U.S. government debt securities$121,036 $— $(331)$120,705 
Certificates of deposit97 — — 97 
Total$121,133 $— $(331)$120,802 
The estimated fair value of available-for-sale investments classified by their contractual maturities as of June 30, 2022 was:
Due within one year$71,453 
After one year through two years11,877 
Total$83,330 
Changes in market interest rates and bond yields cause certain investments to fall below their cost basis, resulting in unrealized losses on investments. The Company has a practice of minimizing realized losses or maximizing realized gains based upon the Company’s cash requirements and general market conditions.