Cash Equivalents and Short-Term Investments (Tables)

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

Summary of Amortized Cost, Unrealized Gain and Loss and Estimated Fair Value

The following tables summarize the amortized cost, unrealized gain and loss and estimated fair value of cash equivalents and short-term investments:

	March 31, 2023
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents
Money market funds	$	223,314	$	—	$	—	$	223,314
Total cash equivalents	$	223,314	$	—	$	—	$	223,314
Short-term investments
Commercial paper	$	126,278	$	—	$	(155)	$	126,123
Corporate bonds	44,465		19		(147)		44,337
Asset backed securities	25,266		2		(122)		25,146
Certificates of deposit	10,000		—		—		10,000
Supranational bonds	4,006		—		(22)		3,984
Yankee bond	4,026		—		(33)		3,993
U.S. Treasury and agency obligations	42,883		34		(247)		42,670
Total short-term investments	$	256,924	$	55	$	(726)	$	256,253

	December 31, 2022
(in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents
Money market funds	$	201,476	$	—	$	—	$	201,476
Total cash equivalents	$	201,476	$	—	$	—	$	201,476
Short-term investments
Commercial paper	$	144,093	$	2	$	(377)	$	143,718
Corporate bonds	37,778		—		(194)		37,584
Asset backed securities	19,723		11		(161)		19,573
Certificates of deposit	10,000		—		—		10,000
Supranational bonds	4,017		—		(67)		3,950
U.S. Treasury and agency obligations	52,309		—		(565)		51,744
Total short-term investments	$	267,920	$	13	$	(1,364)	$	266,569

Schedule of Investments Classified by Contractual Maturity Date

The contractual maturities of our short-term investments are as follows:

	March 31, 2023				December 31, 2022
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	209,171	$	208,574	$	243,430	$	242,129
Due between one and two years	47,753		47,679		24,490		24,440
Total short-term investments	$	256,924	$	256,253	$	267,920	$	266,569