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Cash and Marketable Securities | 3 Months Ended
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Mar. 31, 2024
Cash and Cash Equivalents [Abstract] |
Cash and Marketable Securities | CASH AND MARKETABLE SECURITIES Cash, Cash Equivalents and Restricted Cash A reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the amount reported within the condensed consolidated statements of cash flows is shown in the table below (in thousands):
| March 31, 2024 |  | March 31, 2023
Cash and cash equivalents | $ | 93,299 |  |  | $ | 74,660 |
Restricted cash | 583 |  |  | 520 |
Total cash, cash equivalents and restricted cash at the end of the period | $ | 93,882 |  |  | $ | 75,180 |
Marketable Securities All short-term marketable securities were considered held-to-maturity at March 31, 2024. At March 31, 2024, some of the Company’s short-term marketable securities were in an unrealized loss position. The Company determined that it had the positive intent and ability to hold until maturity all short-term marketable securities that have been in a continuous loss position. The Company assesses whether the decline in value of short-term marketable securities is temporary or other-than-temporary. In making its assessment, the Company evaluates the current market and interest rate environment as well as specific issuer information. There was no recognition of any other-than-temporary impairment at March 31, 2024. All short-term marketable securities with unrealized losses as of the balance sheet date have been in a loss position for less than twelve months. Contractual maturities of the short-term marketable securities were within one year or less. The long-term marketable equity securities were recorded at fair market value with changes in the fair value recognized in earnings at March 31, 2024 and December 31, 2023. The long-term marketable debt securities were considered available-for-sale at March 31, 2024 and December 31, 2023. The contractual maturity of the long-term marketable debt securities are less than three years. The amortized cost, gross unrealized holding gains and fair value of the Company’s marketable securities by major security type at each balance sheet date are summarized in the tables below (in thousands):
| March 31, 2024
| Amortized Cost |  | Unrealized Holding Gains, Net |  | Fair Value
Short-term marketable securities: |  |  |  |  |
U.S. agency securities | $ | 79,603 |  |  | $ | 640 |  |  | $ | 80,243 |
Corporate debt securities | 43,019 |  |  | 587 |  |  | 43,606 |
Total short-term marketable securities | $ | 122,622 |  |  | $ | 1,227 |  |  | $ | 123,849 |
| December 31, 2023
| Amortized Cost |  | Unrealized Holding Gains, Net |  | Fair Value
Short-term marketable securities: |  |  |  |  |
U.S. agency securities | $ | 80,468 |  |  | $ | 2,038 |  |  | $ | 82,506 |
Corporate debt securities | 72,753 |  |  | 711 |  |  | 73,464 |
Total short-term marketable securities | $ | 153,221 |  |  | $ | 2,749 |  |  | $ | 155,970 |

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 + Details
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