Cash equivalents and investments

6 Months Ended

Jun. 30, 2022

Cash and Cash Equivalents [Abstract]

Cash equivalents and investments

Cash equivalents and investments

Cash equivalents, marketable securities and deposits are classified as available for sale and are, therefore, recorded at fair value on the condensed consolidated balance sheet, with any unrealized gains and losses reported in accumulated other comprehensive income, which is reflected as a separate component of stockholders’ equity in the Company’s condensed consolidated balance sheet, until realized.

The amortized cost and fair value of our cash equivalents and investments are as follows (in thousands):

	June 30, 2022
	Amortized cost		Gross unrealized gains		Fair market value
Assets
Money market funds	$	169	$	—	$	169
U.S. treasury bills	49,831		2		49,833
Total	$	50,000	$	2	$	50,002
Classified as:
Cash equivalents					$	50,002
Short-term investments					—
Long-term investments					—
Total					$	50,002

All investments held as of June 30, 2022 were cash equivalents and had contractual maturities less than 90 days. There were no realized gains and losses on these securities for the period presented. Unrealized gains on these investments were primarily due to changes in interest rates. We did not have any investments in a continuous unrealized loss position for more than twelve months as of June 30, 2022. There were no investments held as of December 31, 2021.