Cash Equivalents and Investments

12 Months Ended

Dec. 31, 2019

Cash Equivalents And Investments [Abstract]

The fair value of cash equivalents and available-for-sale investments at December 31, 2019 and 2018, were as follows (in thousands):


	December 31, 2019
	Amortized Cost		Gross Unrealized								Estimated Fair Value
					Gains			Losses
Money market funds	$	13,897	$	—		$	—		$	13,897
U.S. government securities	77,329		72			(1)			77,400
Corporate notes	14,955		11			—			14,966
Commercial paper	35,753		—			—			35,753
Total available-for-sale marketable debt securities	$	141,934	$	83		$	(1)		$	142,016
Classified as:
Cash equivalents									$	13,897
Short-term investments									120,089
Long-term investments									8,030
Total cash equivalents and available-for-sale investments									$	142,016


	December 31, 2018
	Amortized Cost		Gross Unrealized								Estimated Fair Value
					Gains			Losses
Money market funds	$	10,606	$	—		$	—		$	10,606
U.S. government securities	9,976		—			(1)			9,975
Corporate notes	16,514		3			(18)			16,499
Commercial paper	36,331		—			—			36,331
Total available-for-sale marketable debt securities	$	73,427	$	3		$	(19)		$	73,411
Classified as:
Cash equivalents									$	15,091
Short-term investments									58,320
Total cash equivalents and available-for-sale investments									$	73,411

The following table summarizes the fair value of the Company's cash equivalents, short-term and long-term marketable securities classified by maturity (in thousands):


	December 31,
	2019		2018
Due within one year	$	133,986	$	73,411
Due after one year through three years	8,030		—
Total cash equivalents and available-for-sale investments	$	142,016	$	73,411

The following tables present the Company's available-for-sale securities that were in an unrealized loss position as of December 31, 2018 (in thousands):


	December 31, 2018
	Less than 12 months						12 Months or Greater						Total
Assets	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. government securities	$	5,977	$	(1)	$	—	$	—	$	5,977	$	(1)
Corporate notes	11,521		(10)		2,993		(8)		14,514		(18)
Total	$	17,498	$	(11)	$	2,993	$	(8)	$	20,491	$	(19)

Unrealized losses as of December 31, 2019 were not material. Available-for-sale securities held as of December 31, 2019 had a weighted average maturity of 126 days. At December 31, 2019, one investment was in an unrealized loss position and no investments have been in an unrealized loss position for more than one year.