Cash Equivalents and Marketable Securities

6 Months Ended

Jun. 30, 2020

Cash Equivalents and Marketable Securities

Cash Equivalents and Marketable Securities

Note 5. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following (in thousands):

	June 30, 2020
	Amortized		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Money market funds	$	139,027	$	—	$	—	$	139,027
Commercial paper		14,532		6		—		14,538
Corporate debt securities		4,893		5		—		4,898
U.S. Treasury and agency securities		44,980		8		(1)		44,987
Total cash equivalents and marketable securities	$	203,432	$	19	$	(1)	$	203,450
Classified as:
Cash equivalents							$	141,027
Marketable securities								62,423
Total cash equivalents and marketable securities							$	203,450

	December 31, 2019
	Amortized		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Money market funds	$	12,964	$	—	$	—	$	12,964
Commercial paper		44,284		2		(4)		44,282
Corporate debt securities		33,653		11		(2)		33,662
U.S. Treasury and agency securities		40,798		14		(2)		40,810
Total cash equivalents and marketable securities	$	131,699	$	27	$	(8)	$	131,718
Classified as:
Cash equivalents							$	31,707
Marketable securities								100,011
Total cash equivalents and marketable securities							$	131,718

All marketable securities held as of June 30, 2020 and December 31, 2019 had contractual maturities of less than one year. There were no material realized gains or realized losses on marketable securities for the periods presented. The Company has not experienced any material credit losses on its investments. The Company does not intend to sell its securities that are in an unrealized loss position, and it is unlikely that the Company will be required to sell its securities before recovery of their amortized cost basis, which may be maturity. Factors considered in determining whether a loss is temporary include the length of time and extent to which the fair value has been less than the amortized cost basis and whether the Company intends to sell the security or whether it is more likely than not that the Company would be required to sell the security before recovery of the amortized cost basis.