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Investments (Tables)
12 Months Ended
Dec. 31, 2022
Investments Debt And Equity Securities [Abstract]  
Schedule of Marketable Securities

Marketable securities consisted of the following as of December 31, 2022 (in thousands):

 

 

Amortized Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

U.S. treasury securities

 

$

86,666

 

 

$

7

 

 

$

(196

)

 

$

86,477

 

Commercial paper

 

 

73,234

 

 

 

6

 

 

 

(326

)

 

 

72,914

 

Corporate notes and obligations

 

 

65,150

 

 

-

 

 

-

 

 

 

65,150

 

Time deposits

 

 

60,951

 

 

 

1

 

 

-

 

 

 

60,952

 

Total marketable securities

 

$

286,001

 

 

$

14

 

 

$

(522

)

 

$

285,493

 

Schedule of Strategic Investments Activity Strategic investment activity during the year ended December 31, 2022 is summarized as follows (in thousands):

 

 

Equity Securities

 

 

Limited Partnerships

 

 

Available-for-Sale Debt Securities

 

 

Total

 

Balance as of December 31, 2021

 

$

3,882

 

 

$

-

 

 

$

3,450

 

 

$

7,332

 

Interest accrued

 

 

-

 

 

 

-

 

 

 

105

 

 

 

105

 

Purchases of strategic investments

 

 

-

 

 

 

3,609

 

 

 

350

 

 

 

3,959

 

Conversion of available-for-sale debt

    securities into equity securities

 

 

3,680

 

 

 

-

 

 

 

(3,680

)

 

 

-

 

Unrealized (losses) gains

 

 

(139

)

 

 

(207

)

 

 

130

 

 

 

(216

)

Impairment losses

 

 

(137

)

 

 

-

 

 

 

-

 

 

 

(137

)

Balance as of December 31, 2022

 

$

7,286

 

 

$

3,402

 

 

$

355

 

 

$

11,043

 

 

Strategic investment activity during the year ended December 31, 2021 is summarized as follows (in thousands):

 

 

Equity Securities

 

 

Available-for-Sale Debt Securities

 

 

Total

 

Balance as of December 31, 2020

 

$

-

 

 

$

-

 

 

$

-

 

Purchases of strategic investments

 

 

3,850

 

 

 

450

 

 

 

4,300

 

Convertible note acquired in connection with a

   business combination

 

 

-

 

 

 

3,000

 

 

 

3,000

 

Unrealized gains

 

 

32

 

 

 

-

 

 

 

32

 

Balance as of December 31, 2021

 

$

3,882

 

 

$

3,450

 

 

$

7,332