Investments

12 Months Ended

Dec. 31, 2021

Debt Securities, Available-for-Sale and Held-to-Maturity, after Allowance for Credit Loss [Abstract]

Investments

4. Investments

As of December 31, 2021 and 2020, amortized cost, gross unrealized gains and losses, and estimated fair values of total fixed-maturity securities were as follows:

	December 31, 2020
	Amortized		Gross Unrealized		Gross Unrealized		Estimated
(in thousands)	Cost		Gain		Loss		Fair Value
Held-to-maturity securities:
U.S. Treasury bonds	$	10,002	$	14	$	-	$	10,016
Available-for-sale securities:
U.S. Treasury bonds	$	13,060	$	68	$	-	$	13,128
	$	23,062	$	82	$	-	$	23,144

	December 31, 2021
	Amortized		Gross Unrealized		Gross Unrealized			Estimated
(in thousands)	Cost		Gain		Loss			Fair Value
Available-for-sale securities:
U.S. Treasury bonds	$	15,146	$	-	$	(36	)	$	15,110
Certificates of deposit		3,922		-		(4	)		3,918
	$	19,068	$	-	$	(40	)	$	19,028

Changes in fair value are related to changes in market interest rates. The Company expects to collect all contractual principal and interest payments.

Amortized cost and estimated fair value of fixed-maturity securities at December 31, 2021 by contractual maturity were as follows:

	2021
(in thousands)	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	3,922	$	3,918
More than one year		15,146		15,110
Total investments	$	19,068	$	19,028

The Company recorded interest income of $0.2 million and $1.3 million, respectively, during the years ended December 31, 2021, and 2020, as a component of interest and other income (expense), net on the Company’s consolidated statement of operations and comprehensive loss.