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Short-term Investments
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Short-term Investments Short-term Investments
Short-term investments consisted of available-for-sale and equity securities as follows (in thousands):
Type of securities as of March 31, 2023Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair value
Corporate debt securities$15,291 $1 $(30)$15,262 
Government-related debt securities18,001 — (27)17,974 
Total available-for-sale debt securities$33,292 $1 $(57)$33,236 
Type of securities as of December 31, 2022Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair value
Corporate debt securities$62,862 $— $(359)$62,503 
Government-related debt securities22,009 — (230)21,779 
Total available-for-sale debt securities$84,871 $— $(589)$84,282 
The fair values of available-for-sale debt securities by contractual maturity were as follows (in thousands):
March 31, 2023December 31, 2022
Maturing in one year or less$33,236 $81,004 
Maturing in one to three years— 3,278 
Total available-for-sale debt securities$33,236 $84,282 
The Company has both the intent and ability to sell its available-for-sale debt securities maturing greater than one year within 12 months from the balance sheet date and, accordingly, has classified these securities as current in the condensed consolidated balance sheets.
The following table summarizes investments that have been in a continuous unrealized loss position as of March 31, 2023 (in thousands).
Less than 12 months12 months or greaterTotal
Fair ValueGross unrealized lossesFair ValueGross unrealized lossesFair ValueGross unrealized losses
Corporate debt securities$8,474 $(28)$3,498 $(2)$11,972 $(30)
Government-related debt securities— — 17,974 (27)17,974 (27)
Total$8,474 $(28)$21,472 $(29)$29,946 $(57)
The Company invests in securities that are rated investment grade or better. The unrealized losses on available-for-sale debt securities as of March 31, 2023 were caused primarily by interest rate increases.
The Company reviews the individual securities in its portfolio for impairment when events indicate the fair value of the investments may be below the carrying value. The Company reviews the individual securities in its portfolio for indications that unrealized losses are credit related and require an allowance to be recorded at the present value of the future expected cash flows. The Company determined unrealized losses were not for credit losses and therefore did not record an allowance related to its available-for-sale debt investments for the three month period ended March 31, 2023. The Company did not record any impairment charges related to its available-for-sale debt investments for the three month period ended March 31, 2023.