Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Assets Measured at Fair Value on Recurring Basis

The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories:



	As of June 30, 2017
	Level 1		Level 2		Level 3		Total
	(in thousands)
Description:
Assets:
Money market funds	$	10,095	$	—	$	—	$	10,095
U.S. government agencies	14,965		—		—		14,965
Commercial paper	—		4,479		—		4,479
Corporate bonds	—		15,721		—		15,721
Asset-backed securities	—		4,847		—		4,847
Total assets	$	25,060	$	25,047	$	—	$	50,107



	As of December 31, 2016
	Level 1		Level 2		Level 3		Total
	(in thousands)
Description:
Assets:
Money market funds	$	10,085	$	—	$	—	$	10,085
U.S. government agencies	14,982		—		—		14,982
Commercial paper	—		8,078		—		8,078
Corporate bonds	—		10,314		—		10,314
Asset-backed securities	—		6,467		—		6,467
Total assets	$	25,067	$	24,859	$	—	$	49,926

Schedule of Available-for-sale Securities Reconciliation

Our investments, which are all classified as available-for-sale, consisted of the following:



	As of June 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Description:
U.S. government agencies	$	14,993	$	—	$	(28	)	$	14,965
Commercial paper	4,479		—		—			4,479
Corporate bonds	15,736		—		(15		)	15,721
Asset-backed securities	4,850		—		(3		)	4,847
Total assets	$	40,058	$	—	$	(46	)	$	40,012



	As of December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Description:
U.S. government agencies	$	14,992	$	3	$	(13	)	$	14,982
Commercial paper	7,178		—		—			7,178
Corporate bonds	10,326		1		(13		)	10,314
Asset-backed securities	6,464		4		(1		)	6,467
Total assets	$	38,960	$	8	$	(27	)	$	38,941