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v3.23.1

Investments and Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments and Fair Value Measurements |
Cash, cash equivalents and investments | As of March 31, 2023 and December 31, 2022, our cash, cash equivalents and debt investments are classified as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023 | ​ | December 31, 2022 |
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​ |
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair |
​ |  | Cost |  | Gain |  | (Loss) |  | Value |  | Cost |  | Gain |  | (Loss) |  | Value |
Classified as: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and restricted cash | ​ | $ | 44,893 | ​ | $ | — | ​ | $ | — | ​ | $ | 44,893 | ​ | $ | 41,348 | ​ | $ | — | ​ | $ | — | ​ | $ | 41,348 | ​
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit 1 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Total cash, restricted cash and cash equivalents | ​ |  | 44,893 | ​ |  | — | ​ |  | — | ​ |  | 44,893 | ​ |  | 41,348 | ​ |  | — | ​ |  | — | ​ |  | 41,348 | ​
Investments (available-for-sale): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit 2 | ​ |  | 6,440 | ​ |  | — | ​ | ​ | (148) | ​ |  | 6,292 | ​ |  | 6,440 | ​ |  | — | ​ | ​ | (175) | ​ |  | 6,265 | ​
Corporate bonds | ​ |  | 2,410 | ​ |  | — | ​ |  | (44) | ​ |  | 2,366 | ​ |  | 5,320 | ​ |  | — | ​ |  | (128) | ​ |  | 5,192 | ​
Total investments | ​ |  | 8,850 | ​ |  | — | ​ |  | (192) | ​ |  | 8,658 | ​ |  | 11,760 | ​ |  | — | ​ |  | (303) | ​ |  | 11,457 | ​
Total cash, restricted cash, cash equivalents and investments | ​ | $ | 53,743 | ​ | $ | — | ​ | $ | (192) | ​ | $ | 53,551 | ​ | $ | 53,108 | ​ | $ | — | ​ | $ | (303) | ​ | $ | 52,805 | ​
Contractual maturities on investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Due within 1 year 3 | ​ | $ | 7,170 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 7,016 | ​ | $ | 9,600 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 9,339 | ​
Due after 1 through 5 years 4 | ​ |  | 1,680 | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 1,642 | ​ |  | 2,160 | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2,118 | ​
​ | ​ | $ | 8,850 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 8,658 | ​ | $ | 11,760 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 11,457 | ​
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, 2023 (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, 2023 |  | Value |  | (Losses) |  | Value |  | (Losses) |  | Value |  | (Losses) |
Investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit | ​ | $ | 2,113 | ​ | $ | (47) | ​ | $ | 4,179 | ​ | $ | (101) | ​ | $ | 6,292 | ​ | $ | (148) | ​
Corporate bonds | ​ |  | — | ​ |  | — | ​ |  | 2,016 | ​ |  | (44) | ​ |  | 2,016 | ​ | ​ | (44) | ​
Total in loss position | ​ | $ | 2,113 | ​ | $ | (47) | ​ | $ | 6,195 | ​ | $ | (145) | ​ | $ | 8,308 | ​ | $ | (192) | ​
​ ​ 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, 2022 (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, 2022 | ​ | Value | ​ | (Loss) | ​ | Value | ​ | (Loss) | ​ | Value | ​ | (Loss) |
Investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit | ​ | $ | 2,118 | ​ | $ | (42) | ​ | $ | 4,146 | ​ | $ | (133) | ​ | $ | 6,264 | ​ | $ | (175) | ​
Corporate bonds | ​ |  | — | ​ |  | — | ​ |  | 4,842 | ​ |  | (128) | ​ |  | 4,842 | ​ | ​ | (128) | ​
Total in loss position | ​ | $ | 2,118 | ​ | $ | (42) | ​ | $ | 8,988 | ​ | $ | (261) | ​ | $ | 11,106 | ​ | $ | (303) | ​
​
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, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ | ​ | Significant |
​ | ​ | ​ | ​ | ​ | Active Markets of | ​ | Significant Other | ​ | Unobservable |
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs |
​ |  | March 31, 2023 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit | ​ | $ | 6,292 | ​ | $ | — | ​ | $ | 6,292 | ​ | $ | — | ​
Corporate bonds | ​ |  | 2,366 | ​ |  | — | ​ |  | 2,366 | ​ |  | — | ​
Total | ​ | $ | 8,658 | ​ | $ | — | ​ | $ | 8,658 | ​ | $ | — | ​
​ 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, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ | ​ | Significant |
​ | ​ | ​ | ​ | ​ | Active Markets of | ​ | Significant Other | ​ | Unobservable |
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs |
​ |  | December 31, 2022 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit | ​ | $ | 6,265 | ​ | $ | — | ​ | $ | 6,265 | ​ | $ | — | ​
Corporate bonds | ​ |  | 5,192 | ​ |  | — | ​ |  | 5,192 | ​ |  | — | ​
Total | ​ | $ | 11,457 | ​ | $ | — | ​ | $ | 11,457 | ​ | $ | — | ​
​

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