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Cash, Cash Equivalents and Short-Term Investments
 3 Months Ended
Mar. 31, 2022
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Note 4 – CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

 

Cash, cash equivalents and short-term investments consist of the following (in thousands):

 

   March 31,
2022		   December 31,
2021		 
Cash and cash equivalents:        
Cash  $2,426   $845 
Money market funds   16,016    16,830 
Total cash and cash equivalents  $18,442   $17,675 
           
Short-term investments:          
Certificates of deposit  $249   $250 
Commercial paper   548    2,210 
Corporate notes   7,998    12,024 
Municipal bonds   452    1,437 
Total short-term investments  $9,247   $15,921 

 

The contractual maturities of short-term investments classified as available-for-sale as of March 31, 2022 were as follows (in thousands):

 

   March 31, 2022 
     
Due within one year   $249 
Due after one year through five years   8,998 
Total   $9,247 

 

The following table summarizes the unrealized gains and losses related to short-term investments classified as available-for-sale on the Company’s condensed consolidated balance sheet (in thousands): 

 

   March 31, 2022 
   Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Aggregate
Estimated Fair
Value		 
Short-term investments:                
Certificates of deposit  $249   $
—
   $
—
   $249 
Commercial paper   548    
—
         548 
Corporate notes   8,028    
—
    (30)   7,998 
Municipal bonds   452    
—
    
—
    452 
Total short-term investments  $9,277   $
—
   $(30)  $9,247 

 

   December 31, 2021 
   Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Aggregate
Estimated
Fair Value		 
Short-term investments:                
Certificates of deposit  $250   $
—
   $
—
   $250 
Commercial paper   2,210    
—
    
—
    2,210 
Corporate notes   12,035    
—
    (11)   12,024 
Municipal bonds   1.437    
—
    
—
    1,437 
Total short-term investments  $15,932   $
—
   $(11)  $15,921 

 

As of March 31, 2022 and December 31, 2021, the gross unrealized loss on available-for-sale short-term investments was immaterial and there were no expected credit losses related to the Company’s available-for-sale debt securities. The Company has determined that all unrealized losses are temporary. As of March 31, 2022 and December 31, 2021, no allowance for credit losses in short-term investments was recorded.

 

No sales of available-for-sale short-term investments occurred during the three months ended March 31, 2022.