Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.22.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Investments
The Company began investing in available-for-sale (“AFS”) investments in the fourth quarter of 2021. The following table summarizes our AFS investments. These are classified as "Short-term investments" on the condensed consolidated balance sheets.
March 31, 2022
Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value
(In thousands)
U.S. Treasury securities $ 43,790  $ —  $ (319) $ 43,471 
Corporate bonds 38,529  1  (276) 38,254 
Total available-for-sale investments $ 82,319  $ 1  $ (595) $ 81,725 
December 31, 2021
Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value
(In thousands)
U.S. Treasury securities $ 8,154  $ —  $ (13) $ 8,141 
Corporate bonds 7,343  1  (2) 7,342 
Total available-for-sale investments $ 15,497  $ 1  $ (15) $ 15,483 
All remaining contractual maturities of AFS investments held at March 31, 2022 are as follows:
March 31, 2022
Amortized Cost Fair Value
(In thousands)
Due in 1 year or less $ 48,223  $ 48,134 
Due in 1-2 years 34,096 33,591
Total $ 82,319  $ 81,725 
Breakdown of Available-for-sale, Unrealized Loss Position, Fair Value
The following table presents the breakdown of the available-for-sale investments in an unrealized loss position as of March 31, 2022 and December 31, 2021, respectively.
March 31, 2022
December 31, 2021
Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss
(In thousands)
U.S. Treasury securities
Less than 12 months $ 43,471  $ 319  $ 8,141  $ 13 
Total $ 43,471  $ 319  $ 8,141  $ 13 
Corporate bonds
Less than 12 months $ 36,753  $ 276  $ 5,640  $ 2 
Total $ 36,753  $ 276  $ 5,640  $ 2