Investments

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

As of September 30, 2021 and December 31, 2020, the Company had $228.8 million and $nil and $126.0 million and $24.4 million of short and long-term investments, respectively, mainly consisting of commercial paper and bonds as summarized below. As of September 30, 2021, the Company classifies its investments as debt securities of which $21.5 million are held to maturity debt securities which are carried at amortized cost and are approximately equal to fair market value. As of September 30, 2021, $207.3 million are available-for-sale debt securities which are carried at fair market value and are approximately equal to amortized cost. As of December 31, 2020, $150.4 million were classified as held to maturity and $nil were available-for-sale.


(in thousands)	September 30, 2021		December 31, 2020
Cashable Guaranteed Investment Certificate	$	5,644	$	2,000
Corporate Bond	25,435		40,372
Commercial Paper	197,734		67,747
Treasury Bill	—		7,999
Treasury Bond	—		5,045
Yankee Bond	—		2,816
Total short-term investments	228,813		125,979
Corporate Bonds - total long-term investments	—		24,380
Total investments	$	228,813	$	150,359

Currently, the Company does not intend to sell investments that are classified as held-to-maturity and has the ability and intent to hold these investments until maturity in order to collect interest payments over the life of the investments. As of September 30, 2021 and December 31, 2020, accrued interest receivable from the investments were $0.1 million and $0.5 million, respectively. During the three and nine months ended September 30, 2021, the Company had $2 thousand and $11 thousand unrealized losses and gains on available-for-sale securities, net of tax, respectively, which are included as a component of comprehensive loss on the consolidated statements of operations. The Company's investments as of September 30, 2021 mature at various dates through September 2022.