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Investments (Tables) | 12 Months Ended
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Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Debt Securities, Available-for-sale | The Company’s investments in debt securities consisted of the following as of December 31, 2021 and 2020 (in thousands):
|  | December 31, 2021
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. treasury securities |  | $ | 161,938 |  |  | $ | 1 |  |  | $ | (474) |  |  | $ | 161,465 |
U.S. agency and government sponsored securities |  | 4,995 |  |  | — |  |  | (25) |  |  | 4,970 |
Commercial paper |  | 40,788 |  |  | — |  |  | (4) |  |  | 40,784 |
Corporate bonds |  | 165,522 |  |  | 13 |  |  | (345) |  |  | 165,190 |
Asset-backed securities |  | 46,540 |  |  | — |  |  | (74) |  |  | 46,466 |
Total debt securities |  | $ | 419,783 |  |  | $ | 14 |  |  | $ | (922) |  |  | $ | 418,875 |
Included in cash and cash equivalents |  | $ | 950 |  |  | $ | — |  |  | $ | — |  |  | $ | 950 |
Included in marketable securities |  | $ | 418,833 |  |  | $ | 14 |  |  | $ | (922) |  |  | $ | 417,925 |
|  | December 31, 2020
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. treasury securities |  | $ | 155,339 |  |  | $ | 14 |  |  | $ | (6) |  |  | $ | 155,347 |
U.S. agency and government sponsored securities |  | 19,996 |  |  | — |  |  | — |  |  | 19,996 |
Commercial paper |  | 182,218 |  |  | 6 |  |  | (4) |  |  | 182,220 |
Corporate bonds |  | 45,431 |  |  | 21 |  |  | (2) |  |  | 45,450 |
Asset-backed securities |  | 7,012 |  |  | 6 |  |  | — |  |  | 7,018 |
Total debt securities |  | $ | 409,996 |  |  | $ | 47 |  |  | $ | (12) |  |  | $ | 410,031 |
Included in cash and cash equivalents |  | $ | 133,319 |  |  | $ | 4 |  |  | $ | (2) |  |  | $ | 133,321 |
Included in marketable securities |  | $ | 276,677 |  |  | $ | 43 |  |  | $ | (10) |  |  | $ | 276,710 |
Schedule of Gross Unrealized Losses and the Fair Value for Marketable Investments | The following table presents the gross unrealized losses and the fair value for those debt securities that were in an unrealized loss position for less than 12 months as of December 31, 2021 and 2020 (in thousands):
|  | December 31, 2021 |  | December 31, 2020
|  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value
U.S. treasury securities |  | $ | (474) |  |  | $ | 146,454 |  |  | $ | (6) |  |  | $ | 65,298 |
U.S. agency and government sponsored securities |  | (25) |  |  | 4,970 |  |  | — |  |  | — |
Commercial paper |  | (4) |  |  | 30,285 |  |  | (4) |  |  | 47,629 |
Corporate bonds |  | (345) |  |  | 145,522 |  |  | (2) |  |  | 15,575 |
Asset-backed securities |  | (74) |  |  | 45,251 |  |  | — |  |  | — |
Total |  | $ | (922) |  |  | $ | 372,482 |  |  | $ | (12) |  |  | $ | 128,502 |
Schedule of Equity Investments | The Company’s equity investments consisted of the following as of December 31, 2021 and 2020 (in thousands):
|  |  |  | December 31,
|  | Consolidated Balance Sheets Location |  | 2021 |  | 2020
Money market funds(1) |  | Cash and cash equivalents |  | $ | 25,654 |  |  | $ | 64,971 |
Marketable equity investments(1) |  | Marketable securities |  | 44,216 |  |  | — |
Non-marketable equity investment measured using the measurement alternative(2) |  | Other non-current assets |  | 10,002 |  |  | — |
|  |  |  | $ | 79,872 |  |  | $ | 64,971 |
(1) Investments with readily determinable fair values. (2) Investment in privately held company without readily determinable fair value.
Schedule of Total Realized and Unrealized Gains and Losses Associated with Equity Investments | Total realized and unrealized gains and losses associated with the Company’s equity investments consisted of the following (in thousands):
|  | Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Net realized gains (losses) recognized on equity investments sold |  | $ | 513 |  |  | $ | — |  |  | $ | — |
Net unrealized gains (losses) recognized on equity investments held |  | (156) |  |  | — |  |  | — |
Total net gains (losses) recognized in other income (expense), net |  | $ | 357 |  |  | $ | — |  |  | $ | — |

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