Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-sale

The following table summarizes amortized cost, gross unrealized gains and losses and fair values of the Company’s investments in fixed maturity debt securities as of September 30, 2022 and December 31, 2021:

	September 30, 2022
	Amortized Cost/ Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasuries	$	—	$	—	$	—	$	—
Corporate bonds	16,228		1		(64)		16,165
Municipal bonds	3,517		5		(15)		3,507
Commercial paper	8,375		—		—		8,375
Foreign governments	417		69		(109)		377
Total Fixed Maturity Debt Securities	$	28,537	$	75	$	(188)	$	28,424

	December 31, 2021
	Amortized Cost/ Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasuries	$	—	$	—	$	—	$	—
Corporate bonds	57,460		—		(72)		57,388
Municipal bonds	28,325		5		(10)		28,320
Commercial paper	19,989		—		—		19,989
Foreign governments	12,291		2		(18)		12,275
Total Fixed Maturity Debt Securities	$	118,065	$	7	$	(100)	$	117,972

Investments Classified by Contractual Maturity Date

The amortized cost and fair value of the Company’s fixed maturity debt securities as of September 30, 2022 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
Due in one year or less	$	27,706	$	27,664
Due after one year through five years	666		624
Due after five years through ten years	165		136
Total	$	28,537	$	28,424

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following tables summarize the Company’s gross unrealized losses in fixed maturity securities as of September 30, 2022 and December 31, 2021:

			September 30, 2022
	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate bonds	$	16,030	$	(47)	$	133	$	(16)	$	16,163	$	(63)
Municipal bonds	3,379		(3)		128		(12)		3,507		(15)
Commercial paper	8,376		0		—		—		8,376		0
Foreign governments	183		(78)		88		(32)		271		(110)
Total Fixed Maturity Debt Securities	$	27,968	$	(128)	$	349	$	(60)	$	28,317	$	(188)

			December 31, 2021
	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate bonds	$	56,902	$	(69)	$	376	$	(3)	$	57,278	$	(72)
Municipal bonds	$	19,945	$	(7)	$	340	$	(3)	$	20,285	$	(10)
Foreign governments	$	12,152	$	(18)	$	—	$	—	$	12,152	$	(18)
Total Fixed Maturity Debt Securities	$	88,999	$	(94)	$	716	$	(6)	$	89,715	$	(100)

Summary of Cost and Estimated Fair Values of Equity Securities

The following tables summarize cost and fair values of the Company’s investments in equity securities as of September 30, 2022 and December 31, 2021:

	September 30, 2022
	Cost		Fair Value
Equity securities	$	425	$	461

	December 31, 2021
	Cost		Fair Value
Equity securities	$	432	$	558

Gain (Loss) on Securities

Proceeds from sales and maturities, gross realized gains, gross realized losses and net realized gains (losses) from sales and maturities of fixed maturity securities for the nine months ended September 30, 2022 and 2021 consisted of the following:

	September 30, 2022
	Proceeds		Gross Realized Gains		Gross Realized Losses		Net Realized Gain
Fixed maturity debt securities	$	152,753	$	14	$	—	$	14
Equity securities	5		—		—		—
Total Marketable Securities	$	152,758	$	14	$	—	$	14

	September 30, 2021
	Proceeds		Gross Realized Gains		Gross Realized Losses		Net Realized Gain
Fixed maturity debt securities	$	212,822	$	7	$	(2)	$	5
Equity securities	1		—		—		—
Total Marketable Securities	$	212,823	$	7	$	(2)	$	5