Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-sale

The Company’s investments in debt securities consisted of the following as of December 31, 2022 and 2021 (in thousands):

	December 31, 2022
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	191,075	$	3	$	(2,598)	$	188,480
U.S. agency and government sponsored securities	4,999		—		(75)		4,924
Commercial paper	74,755		—		(232)		74,523
Corporate bonds	111,123		—		(1,214)		109,909
Asset-backed securities	11,945		—		(110)		11,835
Total debt securities	$	393,897	$	3	$	(4,229)	$	389,671
Included in marketable securities	$	393,897	$	3	$	(4,229)	$	389,671

	December 31, 2021
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	161,938	$	1	$	(474)	$	161,465
U.S. agency and government sponsored securities	4,995		—		(25)		4,970
Commercial paper	40,788		—		(4)		40,784
Corporate bonds	165,522		13		(345)		165,190
Asset-backed securities	46,540		—		(74)		46,466
Total debt securities	$	419,783	$	14	$	(922)	$	418,875
Included in cash and cash equivalents	$	950	$	—	$	—	$	950
Included in marketable securities	$	418,833	$	14	$	(922)	$	417,925

Schedule of Gross Unrealized Losses and the Fair Value for Marketable Investments

The following table presents the gross unrealized losses and the fair value for those debt securities that were in an unrealized loss position for less than 12 months as of December 31, 2022 and 2021 (in thousands):

	December 31, 2022				December 31, 2021
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	(2,598)	$	158,888	$	(474)	$	146,454
U.S. agency and government sponsored securities	(75)		4,924		(25)		4,970
Commercial paper	(232)		74,523		(4)		30,285
Corporate bonds	(1,214)		109,909		(345)		145,522
Asset-backed securities	(110)		11,835		(74)		45,251
Total	$	(4,229)	$	360,079	$	(922)	$	372,482

Schedule of Equity Investments Included in Marketable Securities

The Company’s equity investments consisted of the following as of December 31, 2022 and 2021 (in thousands):

		December 31,
	Consolidated Balance Sheets Location	2022		2021
Money market funds(1)	Cash and cash equivalents	$	42,056	$	25,654
Marketable equity investments(1)	Marketable securities	29,643		44,216
Non-marketable equity investment measured using the measurement alternative(2)	Other non-current assets	4,000		10,002
		$	75,699	$	79,872

(1)    Investments with readily determinable fair values.

(2)    Investment in privately held company without readily determinable fair value.