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Short-Term Investments
3 Months Ended
Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]  
Short-Term Investments

NOTE 4 – SHORT-TERM INVESTMENTS

Short-term investments consisted of the following as of the dates presented (in thousands):

 

 

 

September 30, 2020

 

 

 

Amortized

cost

 

 

Gross

unrealized

gains

 

 

Gross

unrealized

losses

 

 

Fair value

 

U.S. treasury securities

 

$

45,007

 

 

$

49

 

 

$

(2

)

 

$

45,054

 

Corporate bonds

 

 

69,360

 

 

 

214

 

 

 

(1

)

 

 

69,573

 

Asset-backed securities

 

 

21,455

 

 

 

89

 

 

 

 

 

 

21,544

 

Total

 

$

135,822

 

 

$

352

 

 

$

(3

)

 

$

136,171

 

 

 

 

June 30, 2020

 

 

 

Amortized

cost

 

 

Gross

unrealized

gains

 

 

Gross

unrealized

losses

 

 

Fair value

 

U.S. treasury securities

 

$

28,281

 

 

$

88

 

 

$

(1

)

 

$

28,368

 

Corporate bonds

 

 

70,781

 

 

 

360

 

 

 

(10

)

 

 

71,131

 

Asset-backed securities

 

 

24,333

 

 

 

142

 

 

 

 

 

 

24,475

 

Total

 

$

123,395

 

 

$

590

 

 

$

(11

)

 

$

123,974

 

 

The amortized cost and fair value amounts include accrued interest receivable of $0.5 million and $0.5 million as of September 30, 2020 and June 30, 2020, respectively.

As of September 30, 2020, the fair value of the Company’s short-term investments that mature within one year and thereafter was $120.6 million and $15.6 million, respectively, or 89% and 11%, respectively, of the Company’s total short-term investments. As of June 30, 2020, the fair value of the Company’s short-term investments that mature within one year and thereafter was $102.9 million and $21.1 million, respectively, or 83% and 17%, respectively, of the Company’s total short-term investments.

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):

 

 

 

 

 

 

 

September 30, 2020

 

 

 

 

 

 

 

Fair value

 

 

Unrealized

losses

 

U.S. treasury securities

 

 

 

 

 

$

9,502

 

 

$

(2

)

Corporate bonds

 

 

 

 

 

 

3,258

 

 

 

(1

)

Total

 

 

 

 

 

$

12,760

 

 

$

(3

)

 

 

 

 

 

 

 

 

June 30, 2020

 

 

 

 

 

 

 

Fair value

 

 

Unrealized

losses

 

U.S. treasury securities

 

 

 

 

 

$

2,798

 

 

$

(1

)

Corporate bonds

 

 

 

 

 

 

9,258

 

 

 

(10

)

Total

 

 

 

 

 

$

12,056

 

 

$

(11

)

 

Investments with unrealized losses have been in a continuous unrealized loss position for less than 12 months. The Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. Therefore, the Company does not consider those unrealized investment losses as other-than-temporary impairment of the investments. There have been no significant realized gains or losses on the short-term investments during the three months ended September 30, 2020 and 2019.