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v3.20.1

Investments and Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2020
Investments and Fair Value Measurements |
Cash, cash equivalents and investments | As of March 31, 2020 and December 31, 2019, our cash, cash equivalents and debt investments are classified as follows (in thousands):
|  | March 31, 2020 |  | December 31, 2019 |
|  |  |  |  | Gross |  | Gross |  |  |  |  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
|  | Cost |  | Gain |  | (Loss) |  | Value |  | Cost |  | Gain |  | (Loss) |  | Value |
Classified as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 20,061 |  | $ | — |  | $ | — |  | $ | 20,061 |  | $ | 26,892 |  | $ | — |  | $ | — |  | $ | 26,892 |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total cash and cash equivalents |  |  | 20,061 |  |  | — |  |  | — |  |  | 20,061 |  |  | 26,892 |  |  | — |  |  | — |  |  | 26,892 |
Investments (available-for-sale): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit 2 |  |  | 1,680 |  |  | 2 |  |  | — |  |  | 1,682 |  |  | 2,400 |  |  | 2 |  |  | — |  |  | 2,402 |
Corporate bonds |  |  | 7,019 |  |  | 2 |  |  | (6) |  |  | 7,015 |  |  | 7,030 |  |  | 4 |  |  | (9) |  |  | 7,025 |
Total investments |  |  | 8,699 |  |  | 4 |  |  | (6) |  |  | 8,697 |  |  | 9,430 |  |  | 6 |  |  | (9) |  |  | 9,427 |
Total cash, cash equivalents and investments |  | $ | 28,760 |  | $ | 4 |  | $ | (6) |  | $ | 28,758 |  | $ | 36,322 |  | $ | 6 |  | $ | (9) |  | $ | 36,319 |
Contractual maturities on investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due within 1 year 3 |  | $ | 8,699 |  |  |  |  |  |  |  | $ | 8,697 |  | $ | 9,430 |  |  |  |  |  |  |  | $ | 9,427 |
Due after 1 through 5 years 4 |  |  | — |  |  |  |  |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  |  | — |
|  | $ | 8,699 |  |  |  |  |  |  |  | $ | 8,697 |  | $ | 9,430 |  |  |  |  |  |  |  | $ | 9,427 |
| 1. |  | Certificates of deposit with original maturities of less than three months.
| 2. |  | Certificates of deposit with original maturities of more than three months.
| 3. |  | Classified as “Short-term investments” in our condensed consolidated balance sheets.
| 4. |  | Classified as “Long-term investments” in our condensed consolidated balance sheets.
Fair value and gross unrealized losses related to available-for-sale securities | The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2020 (in thousands):
|  | In Loss Position |  | In Loss Position |  | Total In |
|  | < 12 months |  | > 12 months |  | Loss Position |
|  |  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
As of March 31, 2020 |  | Value |  | (Losses) |  | Value |  | (Losses) |  | Value |  | (Losses) |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 5,763 |  |  | (6) |  |  | — |  |  | — |  |  | 5,763 |  |  | (6) |
Total in loss position |  | $ | 5,763 |  | $ | (6) |  | $ | — |  | $ | — |  | $ | 5,763 |  | $ | (6) |
The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019 (in thousands):
|  | In Loss Position |  | In Loss Position |  | Total In |
|  | < 12 months |  | > 12 months |  | Loss Position |
|  |  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
As of December 31, 2019 |  | Value |  | (Loss) |  | Value |  | (Loss) |  | Value |  | (Loss) |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 4,515 |  |  | (9) |  |  | — |  |  | — |  |  | 4,515 |  |  | (9) |
Total in loss position |  | $ | 4,515 |  | $ | (9) |  | $ | — |  | $ | — |  | $ | 4,515 |  | $ | (9) |
Summary of financial assets and liabilities measured at fair value on a recurring basis | The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of March 31, 2020 (in thousands):
|  |  |  |  | Quoted Prices in |  |  |  |  | Significant |
|  |  |  |  | Active Markets of |  | Significant Other |  | Unobservable |
|  | Balance as of |  | Identical Assets |  | Observable Inputs |  | Inputs |
|  | March 31, 2020 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 1,682 |  | $ | — |  | $ | 1,682 |  | $ | — |
Corporate bonds |  |  | 7,015 |  |  | — |  |  | 7,015 |  |  | — |
Total |  | $ | 8,697 |  | $ | — |  | $ | 8,697 |  | $ | — |
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of December 31, 2019 (in thousands):
|  |  |  |  | Quoted Prices in |  |  |  |  | Significant |
|  |  |  |  | Active Markets of |  | Significant Other |  | Unobservable |
|  | Balance as of |  | Identical Assets |  | Observable Inputs |  | Inputs |
|  | December 31, 2019 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 2,402 |  | $ | — |  | $ | 2,402 |  | $ | — |
Corporate bonds |  |  | 7,025 |  |  | — |  |  | 7,025 |  |  | — |
Total |  | $ | 9,427 |  | $ | — |  | $ | 9,427 |  | $ | — |

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- Definition Tabular disclosure of fair value amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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