Investments

6 Months Ended

Jun. 30, 2022

Investments

Investments

3. Investments

As of June 30, 2022, the Company had investments of $63,867, classified as available-for-sale securities. As of December 31, 2021, the Company had no investments.

As of June 30, 2022, the Company had available-for-sale investments comprised of the following:

	As of June 30, 2022
			Gross		Gross		Estimated
	Adjusted		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
Corporate bonds	$	31,967	$	6	$	(410)	$	31,563
Commercial paper		32,421		—		(117)		32,304
Total investments	$	64,388	$	6	$	(527)	$	63,867

For the six months ended June 30, 2022, the net unrealized losses were $398, net of taxes. Available-for-sale debt securities are carried at fair value on the consolidated balance sheets. The Company estimates the lifetime expected credit losses for all available-for sale debt securities in an unrealized loss position. If our assessment indicates that an expected credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the expected credit loss in the allowance for credit losses in technology and academic services in our consolidated income statements.

Available-for-sale securities maturing as of December 31:
2022 (Remainder of year)	$	49,667
2023		5,376
2024		6,799
2025		2,025
Total	$	63,867