Investments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

The components of our investments as of June 30, 2022 are as follows (in thousands):


	As of June 30, 2022
	Fair Value Measurement							Balance Sheet Classification
	Fair Value Level	Cost Basis		Unrealized Gains (Losses)		Market Value		Cash and Cash Equivalents		Short-term Investments and Marketable Securities		Long-term Investments
Money market fund	Level 1	$	9,438	$	—	$	9,438	$	9,438	$	—	$	—
U.S. Treasuries	Level 1	17,985		(82)		17,903		—		17,903		—
Commercial paper	Level 2	23,110		—		23,110		—		23,110		—
Corporate bonds	Level 2	15,397		(130)		15,267		—		13,245		2,022
Asset-backed securities	Level 2	5,493		(3)		5,490		—		5,490		—
Total investments		$	71,423	$	(215)	$	71,208	$	9,438	$	59,748	$	2,022

At December 31, 2021, our investments consisted of the following (in thousands):


	As of December 31, 2021
	Fair Value Measurement							Balance Sheet Classification
	Fair Value Level	Cost Basis		Unrealized Gains (Losses)		Market Value		Cash and Cash Equivalents		Short-term Investments and Marketable Securities		Long-term Investments
Money market fund	Level 1	$	38,301	$	—	$	38,301	$	38,301	$	—	$	—
U.S. Treasury bonds	Level 1	8,171		—		8,171		—		8,171		—
Commercial paper	Level 2	23,312		—		23,312		—		23,312		—
Corporate bonds	Level 2	20,107		(14)		20,093		—		8,049		12,044
Asset-backed securities	Level 2	15,655		(8)		15,647		—		15,647		—
Total investments		$	105,546	$	(22)	$	105,524	$	38,301	$	55,179	$	12,044

The amortized cost basis and fair value of debt securities as of June 30, 2022, by contractual maturity, are as follows (in thousands):


	As of June 30, 2022
	Cost Basis		Fair Value
Due in one year or less	$	69,398	$	69,186
Due after one year through five years	2,025		2,022
Total investments	$	71,423	$	71,208