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Investments (Tables)
3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-sale
The Company’s investments in debt securities consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):
March 31, 2024
 CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
U.S. treasury securities$17,189 $— $(2)$17,187 
U.S. agency and government sponsored securities2,523 — (1)2,522 
Commercial paper19,007 — — 19,007 
Corporate bonds65,996 10 (75)65,931 
Certificate of deposit
500 — — 500 
Total debt securities$105,215 $10 $(78)$105,147 
Included in cash and cash equivalents$1,739 $— $— $1,739 
Included in marketable securities$103,476 $10 $(78)$103,408 
December 31, 2023
 CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
U.S. treasury securities$86,764 $20 $— $86,784 
U.S. agency and government sponsored securities2,732 — — 2,732 
Commercial paper10,144 — — 10,144 
Corporate bonds44,924 (27)44,906 
Total debt securities$144,564 $29 $(27)$144,566 
Included in cash and cash equivalents$1,595 $— $(1)$1,594 
Included in marketable securities$142,969 $29 $(26)$142,972 
Schedule of Gross Unrealized Losses and the Fair Value for Marketable Investments
The following table presents the gross unrealized losses and the fair value for those debt securities that were in an unrealized loss position for less than 12 months as of March 31, 2024 and December 31, 2023 (in thousands):
March 31, 2024December 31, 2023
Gross
Unrealized
Losses
Fair ValueGross
Unrealized
Losses
Fair Value
U.S. treasury securities$(2)$9,263 $— $— 
U.S. agency and government sponsored securities(1)1,522 — 741 
Corporate bonds(75)37,552 (27)30,621 
Total$(78)$48,337 $(27)$31,362 
Schedule of Equity Investments Included in Marketable Securities
The Company’s equity investments consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):
Condensed Consolidated Balance Sheets LocationMarch 31, 2024December 31, 2023
Money market funds(1)
Cash and cash equivalents$83,433 $101,842 
Marketable equity investments(1)
Marketable securities5,360 7,755 
Investment in non-marketable securities(2)
Other non-current assets10,000 10,000 
Non-marketable equity investment measured using the measurement alternative(2)
Other non-current assets4,000 4,000 
Total$102,793 $123,597 
(1)    Investments with readily determinable fair values.
(2)    Investment in privately held company without readily determinable fair value.