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Cash and Cash equivalents and Short-term investments
 12 Months Ended
Dec. 31, 2021
Cash, Cash Equivalents, and Short-term Investments [Abstract]  
Cash and Cash equivalents and Short-term investments Cash and Cash equivalents and Short-term investments
a.Cash and cash equivalents:
Cash equivalents include items almost as liquid as cash, such as certificates of deposit and term deposits with maturity periods of three months or less when purchased. The Company’s cash and cash equivalents were composed of:
December 31,
20212020
Cash$3,139 $20,339 
Money market funds64,668 214,335 
Certificate of deposits, notes and term deposits140,995 — 
Total cash and cash equivalents$208,802 $234,674 
b.    Short-term investments
The following table sets forth the Company’s short-term investments:
December 31,
20212020
Term deposits$424,094 $— 
US treasury bills199,981 607,902 
Corporate debt securities104,823 — 
Total short-term investments$728,898 $607,902 
The Company invests in marketable U.S. treasury Bills (“T-bills”), term deposits, notes, and corporate debt securities that are classified as held-to-maturity securities and are presented as cash and cash equivalents and short-term investments according their maturity periods.
The Company measures its cash equivalents and short-term investments at fair value and classifies them within Level 1 or 2. The Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The fair value of the Company's Level 1 financial assets is based on quoted market prices of the identical underlying security. The fair value of the Company's level 2 financial assets is based on inputs that are directly or indirectly observable in the market, including the readily-available pricing sources for the identical underlying security that may not be actively traded.
The estimated fair value of our short-term investments as of December 31, 2021 and 2020 was $728,906 and $607,905, respectively. As of December 31, 2021 and 2020, amounts of $624,083 and $607,905, respectively, were categorized as level 1, and the remaining balance as level 2 in accordance with ASC 820, “Fair Value Measurements and Disclosures.”