XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.23.2

Note 7 - Investments | 6 Months Ended
--- | ---
Jun. 30, 2023
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 7 – Investments The following table summarizes the Company’s investments as of June 30, 2023 (in thousands):
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  |  |  |
|  | Cost Basis |  |  | Gains |  |  | Losses |  |  | Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 596 |  |  | $ | - |  |  | $ | — |  |  | $ | 596 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government |  | $ | 18,991 |  |  | $ | — |  |  | $ | (76 | ) |  | $ | 18,915 |
Corporate bonds |  |  | 6,548 |  |  |  | — |  |  |  | (63 | ) |  |  | 6,485 |
Commercial paper |  |  | 2,014 |  |  |  | — |  |  |  | (3 | ) |  |  | 2,011 |
Certificates of deposit |  |  | 7,745 |  |  |  | 1 |  |  |  | (13 | ) |  |  | 7,733 |
Total marketable securities |  | $ | 35,298 |  |  | $ | 1 |  |  | $ | (155 | ) |  | $ | 35,144 |
Total assets at fair value |  | $ | 35,894 |  |  | $ | 1 |  |  | $ | (155 | ) |  | $ | 35,740 |
The Company classifies its investments as available-for-sale, and they consist entirely of debt securities. As of June 30, 2023, the amortized cost of investments included an immaterial amount of accrued interest. As of June 30, 2023, marketable securities were in a net unrealized loss position. Unrealized gains and losses on available-for-sale debt securities are included as a component of comprehensive loss. As of June 30, 2023, the aggregate fair value of investments held by the Company in an unrealized loss position was $33.9 million which consisted of 38 securities. The unrealized loss was primarily driven by rising interest rates. The Company does not expect to settle the debentures at a price less than the amortized cost basis of the investment; the Company expects to recover the entire amortized cost basis of the security. In accordance with the Company’s general investment strategy, the Company does not intend to sell the investments before maturity. As of June 30, 2023, the Company believes the cost basis for its marketable securities were recoverable in all material aspects and no allowance for credit losses were recognized in the period. The Company’s investments as of June 30, 2023 mature at various dates through January 2026. The fair values of investments by contractual maturity consist of the following (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Maturities within one year |  | $ | 27,770 |  |  | $ | 44,556 |
Maturities after one year through three years |  |  | 7,970 |  |  |  | — |
Total investments |  | $ | 35,740 |  |  | $ | 44,556 |

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

X
- 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) -Publisher SEC Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//940-320/tableOfContent Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration