Marketable Investments

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable Investments

Note 2 — Marketable Investments

The following table summarizes the Company’s marketable investments (in thousands):

	As of September 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	19,234	$	—	$	(232	)	$	19,002
Federal agency obligations		1,000		1		—			1,001
Total	$	20,234	$	1	$	(232	)	$	20,003

	As of December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	18,542	$	—	$	(33	)	$	18,509
Total	$	18,542	$	—	$	(33	)	$	18,509

Realized gains and losses on investments are included in earnings and are determined using the specific identification method. There were no realized gains or losses on marketable investments during the three and nine months ended September 30, 2022 and 2021.

The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of September 30, 2022 (in thousands).

	FY 2022		FY 2023		FY 2024		FY 2025		Total
Corporate obligations	$	3,797	$	11,937	$	2,335	$	933	$	19,002
Federal agency obligations		—		—		1,001		—	$	1,001
Total	$	3,797	$	11,937	$	3,336	$	933	$	20,003

The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	As of September 30, 2022
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	15,007	$	216	$	3,995	$	16
Total	$	15,007	$	216	$	3,995	$	16

	As of December 31, 2021
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	18,509	$	33	$	—	$	—
Total	$	18,509	$	33	$	—	$	—