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Investments (Tables) | 6 Months Ended
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Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Debt Securities, Available-for-sale | The Company’s investments in debt securities consisted of the following as of June 30, 2023 and December 31, 2022 (in thousands):
|  | June 30, 2023
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. treasury securities |  | $ | 210,583 |  |  | $ | 47 |  |  | $ | (749) |  |  | $ | 209,881 |
Commercial paper |  | 7,467 |  |  | — |  |  | (14) |  |  | 7,453 |
Corporate bonds |  | 43,946 |  |  | 2 |  |  | (91) |  |  | 43,857 |
Asset-backed securities |  | 981 |  |  | — |  |  | (3) |  |  | 978 |
Total debt securities |  | $ | 262,977 |  |  | $ | 49 |  |  | $ | (857) |  |  | $ | 262,169 |
Included in marketable securities |  | 262,977 |  |  | 49 |  |  | (857) |  |  | 262,169 |
|  | December 31, 2022
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. treasury securities |  | $ | 191,075 |  |  | $ | 3 |  |  | $ | (2,598) |  |  | $ | 188,480 |
U.S. agency and government sponsored securities |  | 4,999 |  |  | — |  |  | (75) |  |  | 4,924 |
Commercial paper |  | 74,755 |  |  | — |  |  | (232) |  |  | 74,523 |
Corporate bonds |  | 111,123 |  |  | — |  |  | (1,214) |  |  | 109,909 |
Asset-backed securities |  | 11,945 |  |  | — |  |  | (110) |  |  | 11,835 |
Total debt securities |  | $ | 393,897 |  |  | $ | 3 |  |  | $ | (4,229) |  |  | $ | 389,671 |
Included in marketable securities |  | $ | 393,897 |  |  | $ | 3 |  |  | $ | (4,229) |  |  | $ | 389,671 |
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 June 30, 2023 and December 31, 2022 (in thousands):
|  | June 30, 2023 |  | December 31, 2022
|  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value
U.S. treasury securities |  | $ | (749) |  |  | $ | 159,069 |  |  | $ | (2,598) |  |  | $ | 158,888 |
U.S. agency and government sponsored securities |  | — |  |  | — |  |  | (75) |  |  | 4,924 |
Commercial paper |  | (14) |  |  | 7,453 |  |  | (232) |  |  | 74,523 |
Corporate bonds |  | (91) |  |  | 39,729 |  |  | (1,214) |  |  | 109,909 |
Asset-backed securities |  | (3) |  |  | 978 |  |  | (110) |  |  | 11,835 |
Total |  | $ | (857) |  |  | $ | 207,229 |  |  | $ | (4,229) |  |  | $ | 360,079 |
Schedule of Equity Investments Included in Marketable Securities | The Company’s equity investments consisted of the following as of June 30, 2023 and December 31, 2022 (in thousands):
| Condensed Consolidated Balance Sheets Location |  | June 30, 2023 |  | December 31, 2022
Money market funds(1) | Cash and cash equivalents |  | $ | 55,517 |  |  | $ | 42,056 |
Marketable equity investments(1) | Marketable securities |  | 14,509 |  |  | 29,643 |
Non-marketable equity investment measured using the measurement alternative(2) | Other non-current assets |  | 4,000 |  |  | 4,000 |
Total |  |  | $ | 74,026 |  |  | $ | 75,699 |
(1) Investments with readily determinable fair values. (2) Investment in privately held company without readily determinable fair value.

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