SHORT-TERM INVESTMENTS

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

The following tables summarize the estimated fair value of the Company’s cash equivalents and debt securities and the gross unrealized holding gains and losses as of September 30, 2021 (in thousands):


	Amortized cost		Unrealized gain		Unrealized Loss		Estimated Fair Value
Assets
Cash equivalents:
Money market fund	$	3,787	$	—	$	—	$	3,787
Total cash equivalents	$	3,787	$	—	$	—	$	3,787
Debt securities:
Corporate debt securities	$	34,378	$	2	$	(17)	$	34,363
Commercial paper	$	20,738	$	2	$	—	$	20,740
U.S. government bonds	$	80,845	$	3	$	(8)	$	80,840
Certificate of deposits	$	24,520	$	3	$	—	$	24,523
Other	$	10,333	$	—	$	(4)	$	10,329
Total debt securities	$	170,814	$	10	$	(29)	$	170,795
Classified as:
Cash equivalents							$	3,787
Short-term debt securities							$	170,795
Long-term debt securities							$	—
							$	174,582

The Company periodically reviews the available-for-sale securities for other-than-temporary impairment loss. The Company considers factors such as the duration, severity and the reason for the decline in value, the potential recovery period and its intent to sell. For debt securities, it also considers whether (i) it is more likely than not that the Company will be required to sell the securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. During the nine months ended September 30, 2021, the Company did not recognize any other-than-temporary impairment losses. All securities with unrealized losses have been in a loss position for less than 12 months.