CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

9 Months Ended

Sep. 30, 2021

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

4. CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

The Company’s cash equivalents and short-term investments are invested in the following (in thousands):

September 30, 2021	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Money market funds	$	126,086	$	—	$	—	$	126,086
Total cash equivalents		126,086		—		—		126,086
Commercial paper		128,825		—		—		128,825
Corporate bonds		86,913		—		(14)		86,899
Government bonds		36,524		—		(4)		36,520
Asset-backed securities		24,830		1		(3)		24,828
Total short-term investments		277,092		1		(21)		277,072
Total cash equivalents and short-term investments	$	403,178	$	1	$	(21)	$	403,158

December 31, 2020	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	75,374	$	—	$	—	$	75,374
Money market funds		407,512		—		—		407,512
Total cash equivalents		482,886		—		—		482,886
U.S. Treasury securities		19,995		2		—		19,997
Commercial paper		43,911		—		—		43,911
Corporate bonds		47,970		—		(11)		47,959
Total short-term investments		111,876		2		(11)		111,867
Total cash equivalents and short-term investments	$	594,762	$	2	$	(11)	$	594,753

In September 2021, the Company made a $20.0 million equity investment in Shapeways Holdings, Inc. (“Shapeways”). The Company records this investment at fair value. The Company recorded an unrealized loss due to the change in fair value of the Shapeways stock of $1.9 million during the three and nine months ended September 30, 2021, in interest and other (expense) income, net in the condensed consolidated statements of operations.