Marketable securities

3 Months Ended

Mar. 31, 2023

Marketable securities as of March 31, 2023 consisted of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities, current:
Corporate debt securities	$	166,148	$	5	$	(1,280)	$	164,873
U.S. government debt securities	43,993		—		(872)		43,121
U.S. Treasury securities	12,937		4		(86)		12,855
Marketable securities, non-current:
Corporate debt securities	29,947		2		(203)		29,746
U.S. government debt securities	5,000		—		(40)		4,960

Total marketable securities, current and non-current	$	258,025	$	11	$	(2,481)	$	255,555

Marketable securities as of December 31, 2022 consisted of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities, current:
Corporate debt securities	$	183,270	$	2	$	(2,068)	$	181,204
U.S. government debt securities	40,986		—		(1,184)		39,802
U.S. Treasury securities	25,650		—		(257)		25,393
Marketable securities, non-current:
Corporate debt securities	53,592		2		(471)		53,123
U.S. government debt securities	8,000		—		(161)		7,839

Total marketable securities, current and non-current	$	311,498	$	4	$	(4,141)	$	307,361

Marketable securities classified as current have maturities of less than one year and are classified as available-for-sale. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) are not intended to be liquidated within the next twelve months, although these funds are available for use and, therefore, are

classified as available-for-sale. No available-for-sale debt securities held as of March 31, 2023 or December 31, 2022 had remaining maturities greater than five years.

Marketable securities in unrealized loss positions as of March 31, 2023 consisted of the following (in thousands, except number of securities):


	Number of Securities	Fair Value		Gross Unrealized Losses
Marketable securities in continuous unrealized loss position for less than 12 months:
Corporate debt securities	50	$	109,002	$	(573)
U.S. government debt securities	3	6,949		(50)

Marketable securities in continuous unrealized loss position for greater than 12 months:
Corporate debt securities	37	74,460		(910)
U.S. government debt securities	10	41,132		(862)
U.S. Treasury securities	3	9,949		$	(86)
Total marketable securities in unrealized loss position	103	$	241,492	$	(2,481)

Marketable securities in unrealized loss positions as of December 31, 2022, consisted of the following (in thousands, except number of securities):


	Number of Securities	Fair Value		Gross Unrealized Losses
Marketable securities in continuous unrealized loss position for less than 12 months:
Corporate debt securities	63	$	134,027	$	(1,262)
U.S. government debt securities	6	15,748		(245)
U.S. Treasury securities	4	5,575		(11)
Marketable securities in continuous unrealized loss position for greater than 12 months:
Corporate debt securities	36	82,375		(1,277)
U.S. government debt securities	7	31,892		(1,100)
U.S. Treasury securities	4	19,817		(246)
Total marketable securities in unrealized loss position	120	$	289,434	$	(4,141)

Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at March 31, 2023 and December 31, 2022, related to these securities.