Investments

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

4. Investments

Short-term investments as of March 31, 2021, consist of the following (in thousands):

	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value
Corporate bonds	$	177,273	$	1	$	(53	)	$	177,221
Government bonds		40,955		2		(5	)		40,952
Asset-backed bonds		16,928		—		(4	)		16,924
Total short-term investments	$	235,156	$	3	$	(62	)	$	235,097

Short-term investments as of December 31, 2020, consist of the following (in thousands):

	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value
Corporate bonds	$	55,224	$	5	$	(2	)	$	55,227
Government bonds		14,121		2		—			14,123
Asset-backed bonds		3,514		—		—			3,514
Total short-term investments	$	72,859	$	7	$	(2	)	$	72,864

Short-term investments mature within one year.