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Cash, Cash Equivalents and Investments | 6 Months Ended
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Jun. 30, 2021
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents and Investments | CASH, CASH EQUIVALENTS AND INVESTMENTS Securities classified as cash, cash equivalents and investments as of June 30, 2021 and December 31, 2020 are summarized below (in thousands):
| June 30, 2021
|  |  | Gross Unrealized |  |
| Amortized Cost |  | Gains |  | Losses |  | Fair Value
Cash and cash equivalents: |  |  |  |  |  |  |
Cash | $ | 845 |  |  | $ | — |  |  | $ | — |  |  | $ | 845 |
Money market funds | 84,650 |  |  | — |  |  | — |  |  | 84,650 |
Commercial paper | 1,250 |  |  | — |  |  | — |  |  | 1,250 |
Total cash and cash equivalents | 86,745 |  |  | — |  |  | — |  |  | 86,745 |
Short-term investments |  |  |  |  |  |  |
Commercial paper | $ | 62,719 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 62,725 |
Corporate bonds | 16,964 |  |  | 1 |  |  | (1) |  |  | 16,964 |
Asset-backed securities | 5,376 |  |  | — |  |  | (1) |  |  | 5,375 |
Total short-term investments | 85,059 |  |  | 7 |  |  | (2) |  |  | 85,064 |
Total cash equivalents and investments | $ | 171,804 |  |  | $ | 7 |  |  | $ | (2) |  |  | $ | 171,809 |
| December 31, 2020
|  |  | Gross Unrealized |  |
| Amortized Cost |  | Gains |  | Losses |  | Fair Value
Cash and cash equivalents: |  |  |  |  |  |  |
Cash | $ | 781 |  |  | $ | — |  |  | $ | — |  |  | $ | 781 |
Money market funds | 88,151 |  |  | — |  |  | — |  |  | 88,151 |
Commercial paper | 2,100 |  |  | — |  |  | — |  |  | 2,100 |
Total cash and cash equivalents | 91,032 |  |  | — |  |  | — |  |  | 91,032 |
Short-term investments |  |  |  |  |  |  |
Commercial paper | $ | 60,631 |  |  | $ | 2 |  |  | $ | (4) |  |  | $ | 60,629 |
Corporate bonds | 24,547 |  |  | 3 |  |  | (6) |  |  | 24,544 |
U.S. government-sponsored agency bonds | 9,277 |  |  | 2 |  |  | — |  |  | 9,279 |
U.S. treasury notes | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Total short-term investments | 95,455 |  |  | 7 |  |  | (10) |  |  | 95,452 |
Long-term investments: |  |  |  |  |  |  |
Corporate bonds | $ | 2,115 |  |  |  |  | $ | (1) |  |  | 2,114 |
Total cash equivalents and investments | $ | 188,602 |  |  | $ | 7 |  |  | $ | (11) |  |  | $ | 188,598 |
We invest excess cash in marketable securities with high credit ratings. These securities consist primarily of money market funds, commercial paper, corporate bonds, asset-backed securities, and U.S. treasury and agency securities and are classified as “available-for-sale.” All available-for-sale securities held as of June 30, 2021 had contractual maturities of less than one year. Our available-for-sale securities are subject to a periodic impairment review. We consider a debt security to be impaired when the fair value of that security is less than its carrying cost, in which case we would further evaluate the investment to determine whether the security is other-than-temporarily impaired. When we evaluate an investment for other-than-temporary impairment, we review factors such as the length of time and extent to which fair value has been below cost basis, the financial condition or creditworthiness of the issuer and any changes thereto, intent to sell, and whether it is more likely than not we will be required to sell the investment before the recovery of its cost basis. If an investment is other-than-temporarily impaired, we write the investment down through the statement of operations to its fair value and establishes that value as the new cost basis for the investment. Management has determined that none of our available-for-sale securities were other-than-temporarily impaired in any of the periods presented, and as of June 30, 2021, no investment was in a continuous unrealized loss position for more than one year. As such, we believe that it is more likely than not that investments in a loss position will be held until maturity or a forecasted recovery of fair value.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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