Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-Term Investments

The following tables summarize the Company’s short-term investments (in thousands):

		As of March 31, 2023
	Maturity	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Corporate debt securities	2 years or less	$	36,369	$	2	$	(186)	$	36,185
Commercial paper	1 year or less	378,405		13		(564)		377,854
U.S. Agency bonds	2 years or less	98,148		42		(284)		97,906
U.S. Treasury bills	2 years or less	149,078		16		(670)		148,424
		$	662,000	$	73	$	(1,704)	$	660,369

		As of December 31, 2022
	Maturity	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Corporate debt securities	2 years or less	$	95,195	$	—	$	(662)	$	94,533
Commercial paper	1 year or less	443,489		65		(811)		442,743
U.S. Agency bonds	2 years or less	90,351		22		(434)		89,939
U.S. Treasury bills	2 years or less	223,216		8		(1,862)		221,362
		$	852,251	$	95	$	(3,769)	$	848,577