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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Cash Equivalents and Marketable Securities Classified as Available-for-Sale Securities Measured at Fair Value on Recurring Basis

Cash equivalents and marketable securities, all of which are classified as available-for-sale securities and measured at fair value on a recurring basis, consisted of the following (in thousands):

 

 

 

 

As of December 31, 2021

 

 

 

Fair Value

Hierarchy

Level

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds—

   classified as cash equivalents

 

Level 1

 

$

22,658

 

 

$

 

 

$

 

 

$

22,658

 

Corporate debt

 

Level 2

 

 

52,704

 

 

 

 

 

 

(139

)

 

 

52,565

 

Asset-backed securities

 

Level 2

 

 

23,882

 

 

 

 

 

 

(21

)

 

 

23,861

 

Commercial paper

 

Level 2

 

 

59,532

 

 

 

 

 

 

 

 

 

59,532

 

U.S. government agency

   securities

 

Level 2

 

 

29,744

 

 

 

 

 

 

(75

)

 

 

29,669

 

Total

 

 

 

$

188,520

 

 

$

 

 

$

(235

)

 

$

188,285

 

 

 

 

 

 

 

As of December 31, 2020

 

 

 

Fair Value

Hierarchy

Level

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Fair

Value

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds—

   classified as cash equivalents

 

Level 1

 

$

21,333

 

 

$

 

 

$

 

 

$

21,333

 

Corporate debt

 

Level 2

 

 

32,164

 

 

 

48

 

 

 

 

 

 

32,212

 

Asset-backed securities

 

Level 2

 

 

12,367

 

 

 

2

 

 

 

(1

)

 

 

12,368

 

Commercial paper

 

Level 2

 

 

28,962

 

 

 

 

 

 

 

 

 

28,962

 

U.S. government agency

   securities

 

Level 2

 

 

13,047

 

 

 

3

 

 

 

 

 

 

13,050

 

Total

 

 

 

$

107,873

 

 

$

53

 

 

$

(1

)

 

$

107,925

 

Schedule of Remaining Contractual Maturities of Marketable Securities

The following table presents the remaining contractual maturities of the Company’s marketable securities as of December 31, 2021 (in thousands):

 

 

December 31, 2021

 

Due in less than one year

 

$

132,804

 

Due in more than one year

 

 

55,481

 

Total

 

$

188,285