Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.23.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Investments
The following table summarizes the Company’s available-for-sale (“AFS”) investments. These are classified as “Short-term investments” on the condensed consolidated balance sheets.
March 31, 2023
Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value
(In thousands)
U.S. Treasury securities $ 14,582  $ —  $ (259) $ 14,323 
Corporate bonds 12,837  —  (290) 12,547 
Total available-for-sale investments $ 27,419  $ —  $ (549) $ 26,870 
December 31, 2022
Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value
(In thousands)
U.S. Treasury securities $ 25,124  $ —  $ (423) $ 24,701 
Corporate bonds 23,927  —  (414) 23,513 
Total available-for-sale investments $ 49,051  $ —  $ (837) $ 48,214 
Breakdown of Available-for-sale, Unrealized Loss Position, Fair Value
The following table presents the breakdown of the AFS investments in an unrealized loss position as of March 31, 2023 and December 31, 2022, respectively.
March 31, 2023
December 31, 2022
Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss
(In thousands)
U.S. Treasury securities
Less than 12 months $ —  $ —  $ 16,702  $ (365)
12 months or longer 14,323  (259) 7,999  (58)
Total $ 14,323  $ (259) $ 24,701  $ (423)
Corporate bonds
Less than 12 months $ —  $ —  $ 18,951  $ (387)
12 months or longer 12,547  (290) 1,478  (27)
Total $ 12,547  $ (290) $ 20,429  $ (414)