Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Financial Assets and Liabilities to Fair Value Measurements on Recurring Basis

Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements by major security type as of September 30, 2020 and December 31, 2019 are presented in the following tables (in thousands):

	Fair Value Measurements at September 30, 2020
	Total		Level 1		Level 2		Level 3
Money market funds	$	61,172	$	61,172	$	—	$	—
Certificates of deposit		39,296		—		39,296		—
Municipal notes		3,061		—		3,061		—
Corporate notes		81,112		—		81,112		—
Government and agency notes		11,192		—		11,192		—
Total	$	195,833	$	61,172	$	134,661	$	—

	Fair Value Measurements at December 31, 2019
	Total		Level 1		Level 2		Level 3
Money market funds	$	30,054	$	30,054	$	—	$	—
Certificates of deposit		20,046		—		20,046		—
Repurchase agreements		15,000		—		15,000		—
Corporate notes		38,783		—		38,783		—
Government notes		7,574		—		7,574		—
Commercial paper		1,096		—		1,096		—
Total	$	112,553	$	30,054	$	82,499	$	—

Summary of Available-for-Sale Securities

The following table summarizes the available-for-sale securities (in thousands):

	Fair Value Measurements at September 30, 2020
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Money market funds	$	61,172	$	—	$	—		$	61,172
Certificates of deposit		39,046		250		—			39,296
Municipal notes		3,060		1		—			3,061
Corporate notes		80,871		274		(33	)		81,112
Government and agency notes		11,171		22		(1	)		11,192
Total cash equivalents and investments	$	195,320	$	547	$	(34	)	$	195,833

Classified as:
Cash equivalents (maturities within 90 days)								$	62,152
Short-term investments (maturities within one year)									73,548
Long-term investments (maturities beyond 1 year)									60,133
Total cash equivalents and investments								$	195,833

	Fair Value Measurements at December 31, 2019
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Money market funds	$	30,054	$	—	$	—		$	30,054
Certificates of deposit		19,992		54		—			20,046
Repurchase agreements		15,000		—		—			15,000
Corporate notes		38,788		—		(5	)		38,783
Government notes		7,563		11					7,574
Commercial paper		1,096		—		—			1,096
Total cash equivalents and investments	$	112,493	$	65	$	(5	)	$	112,553

Classified as:
Cash equivalents (maturities within 90 days)								$	47,140
Short-term investments (maturities within one year)									48,650
Long-term investments (maturities beyond 1 year)									16,763
Total cash equivalents and investments								$	112,553