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Marketable Securities
 6 Months Ended
Jun. 30, 2022
Marketable Securities [Abstract]  
Marketable Securities
NOTE 3. MARKETABLE SECURITIES
Marketable securities consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):
 
 
 
June 30, 2022
 
 
 
 
 
 
Gross Unrealized
 
 
Gross Unrealized
 
 
 
 
 
 
Amortized Cost
 
 
Gains
 
 
Losses
 
 
Fair Value
 
Available-for-sale
 
securities, short-term
 
      
 
      
 
      
 
      
Commercial paper
 
$
43,984
 
 
$
—  
 
 
$
—  
 
 
$
43,984
 
Corporate debt securities
 
 
15,033
 
 
 
—  
 
 
 
(206
) 
 
 
14,827
 
Asset-backed securities
 
 
8,039
 
 
 
—  
 
 
 
(31
) 
 
 
8,008
 
U.S. treasury securities
 
 
12,088
 
 
 
—  
 
 
 
(63
) 
 
 
12,025
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
available-for-sale
 
securities, short-term
 
 
79,144
 
 
 
—  
 
 
 
(300
) 
 
 
78,844
 
Available-for-sale
 
securities, long-term
 
      
 
      
 
      
 
      
Corporate debt securities
 
 
5,662
 
 
 
—  
 
 
 
(184
) 
 
 
5,478
 
Asset-backed securities
 
 
3,010
 
 
 
—  
 
 
 
(116
) 
 
 
2,894
 
U.S. treasury securities
 
 
11,994
 
 
 
—  
 
 
 
(365
) 
 
 
11,629
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
available-for-sale
 
securities, long-term
 
 
20,666
 
 
 
—  
 
 
 
(665
) 
 
 
20,001
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
available-for-sale
 
securities
 
$
99,810
 
 
$
—  
 
 
$
(965
) 
 
$
98,845
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
 
December 31, 2021
 
 
 
 
 
 
Gross Unrealized
 
 
Gross Unrealized
 
 
 
 
 
 
Amortized Cost
 
 
Gains
 
 
Losses
 
 
Fair Value
 
Available-for-sale
 
securities, short-term
 
      
 
      
 
      
 
      
Commercial paper
 
$
47,939
 
 
$
—  
 
 
$
—  
 
 
$
47,939
 
Corporate debt securities
 
 
7,992
 
 
 
—  
 
 
 
(11
) 
 
 
7,981
 
Asset-backed securities
 
 
16,177
 
 
 
—  
 
 
 
(22
) 
 
 
16,155
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
available-for-sale
 
securities, short-term
 
 
72,108
 
 
 
—  
 
 
 
(33
) 
 
 
72,075
 
Available-for-sale
 
securities, long-term
 
      
 
      
 
      
 
      
Corporate debt securities
 
 
16,816
 
 
 
—  
 
 
 
(103
) 
 
 
16,713
 
Asset-backed securities
 
 
3,013
 
 
 
—  
 
 
 
(25
) 
 
 
2,988
 
U.S. treasury securities
 
 
11,988
 
 
 
—  
 
 
 
(70
) 
 
 
11,918
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
available-for-sale
 
securities, long-term
 
 
31,817
 
 
 
—  
 
 
 
(198
) 
 
 
31,619
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
available-for-sale
 
securities
 
$
103,925
 
 
$
—  
 
 
$
(231
) 
 
$
103,694
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of June 30
, 2022
, the Company’s available-for-sale securities classified as short-term mature in one year or less and the Company’s available-for-sale securities classified as long-term mature between 12 to 15 months. All of the Company’s available-for-sale marketable securities in an unrealized loss position as of June 30
, 2022
 were in a loss position for less than twelve months. Unrealized losses on available-for-sale securities as of June 30
, 2022
were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. Accordingly, no other-than-temporary impairment was recorded for the three and six months ended June 30
, 2022
. The Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity.