XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.23.2

Marketable Securities | 6 Months Ended
--- | ---
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | Marketable Securities The Company has investments in available-for-sale debt securities which are recorded at fair market value. The change in the fair value of available-for-sale debt investments is recorded as accumulated other comprehensive loss in shareholders’ equity (deficit), net of income tax effects. As of June 30, 2023, the Company considered any decreases in fair value on its marketable securities to be driven by factors other than credit risk, including market risk. The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of June 30, 2023 and December 31, 2022, respectively:
|  | June 30, 2023
Marketable Securities: |  | Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Mutual and money market funds |  | $ | 19,513 |  |  | $ | — |  |  | $ | (2,105) |  |  | $ | 17,408 |
Government securities - U.S. |  | 92,685 |  |  | 432 |  |  | — |  |  | 93,117 |
Total |  | $ | 112,198 |  |  | $ | 432 |  |  | $ | (2,105) |  |  | $ | 110,525 |
|  | December 31, 2022
Marketable Securities: |  | Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Mutual and money market funds |  | $ | 24,407 |  |  | $ | — |  |  | $ | (1,889) |  |  | $ | 22,518 |
Total |  | $ | 24,407 |  |  | $ | — |  |  | $ | (1,889) |  |  | $ | 22,518 |
The Company determines realized gains or losses on the sale of marketable securities on a specific identification method. The Company reflects these gains and losses as a component of investment and other income, net in the accompanying unaudited condensed consolidated statements of loss. The Company recognized immaterial gross realized gains and losses for the three and six months ended June 30, 2023 and for the three months ended June 30, 2022. The Company recognized gross realized gains of $308 for the six months ended June 30, 2022 which were offset by realized losses of $1,031 for the six months ended June 30, 2022. The following table summarizes the estimated fair value of the Company’s investments in marketable debt securities, accounted for as available-for-sale debt securities and classified by the contractual maturity date of the securities as of June 30, 2023:
|  | Maturities
Marketable Debt Securities: |  | Less than 1 Year |  | 1-5 Years |  | 5-10 Years |  | Greater than 10 Years |  | Total
Government securities - U.S. |  | $ | 93,117 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 93,117 |
Total |  | $ | 93,117 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 93,117 |
The Company has classified its investment in available-for-sale marketable debt securities as current assets in the consolidated balance sheets as the securities need to be available for use, if required, to fund current operations. There are no restrictions on the sale of any securities in the Company’s investment portfolio. The Company does not intend to sell the investments and it is not more likely than not that it will be required to sell the investments before recovery of their amortized cost bases.

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration