Cash and Cash Equivalents, Investments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents and Investments

The following tables show our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value as of September 30, 2023 and December 31, 2022 (in thousands except for fair value levels):


	September 30, 2023
	Fair Value Level	Adjusted Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash and cash equivalents:
Cash		$	42,015	$	—	$	—	$	42,015

Money market funds	Level 1	52,404		—		—		52,404

Total cash and cash equivalents		$	94,419	$	—	$	—	$	94,419
Short-term investments:

Corporate debt securities	Level 2	$	58,911	$	—	$	(258)	$	58,653

Agency bonds	Level 2	108,919		—		(731)		108,188
Total short-term investments		$	167,830	$	—	$	(989)	$	166,841
Long-term investments:
Corporate debt securities	Level 2	$	220,649	$	8	$	(2,598)	$	218,059
U.S. treasury securities	Level 1	98,462		—		(1,248)		97,214
Agency bonds	Level 2	98,642		—		(1,374)		97,268
Total long-term investments		$	417,753	$	8	$	(5,220)	$	412,541


	December 31, 2022
	Fair Value Level	Adjusted Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash and cash equivalents:
Cash		$	33,532	$	—	$	—	$	33,532
Money market funds	Level 1	440,145		—		—		440,145

Total cash and cash equivalents		$	473,677	$	—	$	—	$	473,677
Short-term investments:
Commercial paper	Level 2	$	11,744	$	—	$	(29)	$	11,715
Corporate debt securities	Level 2	491,459		—		(4,130)		487,329
U.S. treasury securities	Level 1	85,271		—		(342)		84,929

Total short-term investments		$	588,474	$	—	$	(4,501)	$	583,973
Long-term investments:
Corporate debt securities	Level 2	$	125,735	$	158	$	(909)	$	124,984
U.S. treasury securities	Level 1	30,633		122		—		30,755
Agency bonds	Level 2	60,635		—		(141)		60,494
Total long-term investments		$	217,003	$	280	$	(1,050)	$	216,233

Schedule of Available-for-sale Securities Reconciliation

The following table shows our cash equivalents and investments' adjusted cost and fair value by contractual maturity as of September 30, 2023 (in thousands):


	Adjusted Cost		Fair Value
Due within one year	$	167,830	$	166,841
Due after one year through three years	417,753		412,541
Investments not due at a single maturity date	52,404		52,404
Total	$	637,987	$	631,786