Investments

3 Months Ended

Mar. 31, 2022

Debt Securities Available For Sale And Held To Maturity [Abstract]

Investments

4.Investments

As of March 31, 2022 and December 31, 2021, amortized cost, gross unrealized gains and losses, and estimated fair values of total fixed-maturity securities were as follows (in thousands):

	March 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gain		Loss			Fair Value
Available-for-sale securities
Certificates of deposit	$	3,920	$	-	$	(12	)	$	3,908
U.S. Treasury bonds		75,028		-		(276	)		74,752
	$	78,948	$	-	$	(288	)	$	78,660

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

The following is a summary of maturities of securities available-for-sale as of March 31, 2022 (in thousands):

	Available-for-sale
	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	78,948	$	78,660
More than one year		-		-
Total investments	$	78,948	$	78,660

The Company recorded interest income of $86,000 for the three months ended March 31, 2022, and $105,000 for the three months ended March 31, 2021, as a component of interest and other income (expense), net on the Company’s condensed consolidated statement of operations and comprehensive loss.