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Investments

9 Months Ended

Sep. 30, 2023

Investments

Investments

3. Investments

As of September 30, 2023 and December 31, 2022, the Company had investments of $97,553 and $61,295, respectively, classified as available-for-sale securities.

As of September 30, 2023, the Company had available-for-sale investments comprised of the following:

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As of September 30, 2023

​

​

​

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Gross

Gross

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​

​

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Adjusted

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Unrealized

​

Unrealized

​

Estimated

​

​

Cost

​

Gains

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(Losses)

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Fair Value

Corporate bonds

​

$

74,323

​

$

—

​

$

(742)

​

$

73,581

Commercial Paper

​

​

4,988

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​

—

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(1)

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4,987

Agency bonds

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​

19,020

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​

—

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(35)

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​

18,985

Total investments

​

$

98,331

​

$

—

​

$

(778)

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$

97,553

​

For the nine months ended September 30, 2023 and 2022, the net unrealized losses were $60 and $417, respectively, net of taxes. Available-for-sale debt securities are carried at fair value on the consolidated balance sheets. The Company estimates the lifetime expected credit losses for all available-for sale debt securities in an unrealized loss position. If our assessment indicates that an expected credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the expected credit loss in the allowance for credit losses in technology and academic services in our consolidated income statements. The Company has the ability and intent to hold these investments until recovery or maturity.

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Available-for-sale securities maturing as of December 31:	​	​	​
2023	​	$	25,659
2024	​	​	39,002
2025	​	​	24,366
2026	​	​	5,844
2027	​	​	2,682
Total	​	$	97,553

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//320/tableOfContent

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-Topic 320
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-Topic 820
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