The Company did not have any debt securities classified as available-for-sale investments at December 31, 2023.

The following table summarizes the Company’s debt securities classified as available-for-sale at December 31, 2022, all which had maturities of less than one year as of that date (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Certificates of deposit	$	2,548	$	—	$	(7)	$	2,541
U.S. Treasury securities	3,015		—		(6)		3,009
Commercial paper	425		—		(1)		424
Corporate notes and bonds	3,769		—		(15)		3,754
	$	9,757	$	—	$	(29)	$	9,728

There were no material proceeds (including principal paydowns) or realized gains or losses from sales of debt securities available-for-sale for the years ended December 31, 2023, 2022 and 2021. The Company determines gains and losses on marketable securities based on specific identification of the securities sold. No

material balances were reclassified out of accumulated other comprehensive loss and no losses on debt securities available-for-sale have been recognized in income for the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023 and 2022, there were no debt securities available-for-sale in a material unrealized loss position.

Equity securities are comprised of investments in mutual funds. The fair value of equity securities at December 31, 2023 and 2022 were $1.1 million and $0.9 million, respectively. Unrealized losses or gains on equity securities recorded in income during the year ended December 31, 2023, 2022 and 2021 were as follows (in thousands):


	2023		2022		2021
Unrealized gain (loss) on equity investments	$	114	$	(211)	$	—

These unrealized gains or losses are recorded as a component of other income (expense), net. There were no realized gains or losses from equity securities during the years ended December 31, 2023, 2022 and 2021.

Additional information regarding the fair value of our financial instruments is included in Note 4, Fair Value of Financial Instruments.