Investments

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

7. Investments

The following tables summarize our investments in debt securities, classified as available-for-sale (in thousands):

	As of December 31, 2023
	Amortized Cost		Total Unrealized Gains		Total Unrealized Loss			Aggregate Fair Value
Corporate debt securities	$	78,004	$	79	$	(122	)	$	77,961
Commercial paper		13,734		13		(3	)		13,744
U.S. government and agency securities		47,543		4		(40	)		47,507
Total	$	139,281	$	96	$	(165	)	$	139,212

	As of December 31, 2022
	Amortized Cost		Total Unrealized Gains		Total Unrealized Loss			Aggregate Fair Value
Corporate debt securities	$	78,411	$	3	$	(271	)	$	78,143
Commercial paper		43,944		1		(31	)		43,914
U.S. government and agency securities		20,768		—		(46	)		20,722
Total	$	143,123	$	4	$	(348	)	$	142,779

At December 31, 2023 and 2022, we held 41 and 60 debt securities, respectively, that were in an unrealized loss position. The unrealized losses at December 31, 2023 and 2022 were attributable to changes in interest rates and do not represent credit losses. We do not intend to sell the investments before recovery of their amortized cost bases, which may be at maturity. All our investments mature within two years from December 31, 2023. The following tables summarize our debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands):

	As of December 31, 2023
	Less than 12 Months					12 Months or Longer					Total
	Aggregate Related Fair Value		Unrealized Losses			Aggregate Related Fair Value		Unrealized Losses			Aggregate Related Fair Value		Unrealized Losses
Corporate debt securities	$	50,322	$	(112	)	$	4,279	$	(10	)	$	54,601	$	(122	)
Commercial paper		6,952		(3	)		—		—			6,952		(3	)
U.S. government and agency securities		27,191		(37	)		1,997		(3	)		29,188		(40	)
Total	$	84,465	$	(152	)	$	6,276	$	(13	)	$	90,741	$	(165	)

	As of December 31, 2022
	Less than 12 Months					12 Months or Longer				Total
	Aggregate Related Fair Value		Unrealized Losses			Aggregate Related Fair Value		Unrealized Losses		Aggregate Related Fair Value		Unrealized Losses
Corporate debt securities	$	72,820	$	(271	)	$	—	$	—	$	72,820	$	(271	)
Commercial paper		35,589		(31	)		—		—		35,589		(31	)
U.S. government and agency securities		20,722		(46	)		—		—		20,722		(46	)
Total	$	129,131	$	(348	)	$	—	$	—	$	129,131	$	(348	)