Investments

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable debt securities held by the Company are classified as available-for-sale pursuant to ASC 320, Investments – Debt and Equity Securities, and carried at fair value in the accompanying condensed consolidated balance sheets on a settlement date basis. The following tables summarize the gross unrealized gains and losses of the Company’s marketable securities:


	March 31, 2023
			Gross Unrealized						Estimated Fair Value
(In thousands)	Amortized Cost		Gains		Losses		Credit Losses
Commercial paper	$	14,306	$	—	$	(48)	$	—	$	14,258
Corporate notes	43,157		—		(559)		—		42,598
U.S. government securities	4,920		5		—		—		4,925
U.S. government agency bonds	15,600		—		(29)		—		15,571
	$	77,983	$	5	$	(636)	$	—	$	77,352
Classified as:
Short-term investments									$	57,442
Long-term investments									19,910
									$	77,352


	December 31, 2022
			Gross Unrealized						Estimated Fair Value
(In thousands)	Amortized Cost		Gains		Losses		Credit Losses
Commercial paper	$	15,707	$	—	$	(101)	$	—	$	15,606
Corporate notes	52,159		—		(831)		—		51,328
U.S. government agency bonds	21,545		—		(46)		—		21,499
	$	89,411	$	—	$	(978)	$	—	$	88,433
Classified as:
Short-term investments									$	68,471
Long-term investments									19,962
									$	88,433

As of March 31, 2023 and December 31, 2022, all marketable securities held by the Company had remaining contractual maturities of three years or less. There have been no impairments of the Company’s assets measured and carried at fair value during the three months ended March 31, 2023 and 2022.