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Cash, Cash Equivalents and Short-Term Investments, Net

9 Months Ended

Sep. 30, 2023

Cash, Cash Equivalents, and Short-Term Investments [Abstract]

Cash, Cash Equivalents and Short-Term Investments, Net

Note 4—Cash, Cash Equivalents and Short-Term Investments, Net

Cash, cash equivalents and short-term investments in marketable securities were as follows (in thousands):


	As of September 30, 2023
	Cash and Cash Equivalents		Short-Term Investments, Net		Total
Cash	$	264,896	$	—	$	264,896
Level 1:
Money market funds	778,950		—		778,950
Level 2:
Commercial paper	24,048		154,761		178,809
Corporate debt securities	3,870		157,798		161,668
U.S. government and agency securities	—		137,558		137,558
Total	$	1,071,764	$	450,117	$	1,521,881


	As of December 31, 2022
	Cash and Cash Equivalents		Short-Term Investments, Net		Total
Cash	$	339,717	$	—	$	339,717
Level 1:
Money market funds	640,233		—		640,233
Level 2:
Commercial paper	50,556		126,507		177,063
Corporate debt securities	—		180,502		180,502
U.S. government and agency securities	—		109,071		109,071
Total	$	1,030,506	$	416,080	$	1,446,586

The Company’s gross unrealized gains or losses from its short-term investments, recorded at fair value, for the three and nine months ended September 30, 2023 and 2022, were immaterial.

The contractual maturities of the Company’s short-term investments are as follows (in thousands):


	September 30, 2023
Due in one year	$	415,714
Due in one to two years	34,403
Total	$	450,117