Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Short-Term and Long-Term Investments

The following tables summarize the Company’s debt investments (in thousands):

	March 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Corporate bonds	$	23,072	$	—	$	(34)	$	23,038
U.S. treasury securities	92,152		55		(138)		92,069
Commercial paper	115,130		9		(123)		115,016
Total investments	$	230,354	$	64	$	(295)	$	230,123
	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Corporate bonds	$	25,906	$	4	$	(29)	$	25,881
Commercial paper	127,657		36		(176)		127,517
U.S. treasury securities	86,892		7		(179)		86,720
Total investments	$	240,455	$	47	$	(384)	$	240,118

Summary of Investments with Unrealized Losses, Aggregated by Investment Type and the Length of Time

The following tables summarize the Company’s debt investments with unrealized losses, aggregated by investment type and the length of time that individual investments have been in a continuous unrealized loss position (in thousands, except number of securities):

	March 31, 2023
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	23,038	$	(34)	$	—	$	—	$	23,038	$	(34)
Commercial paper	85,101		(123)		—		—		85,101		(123)
U.S. treasury securities	65,693		(138)		—		—		65,693		(138)
Total	$	173,832	$	(295)	$	—	$	—	$	173,832	$	(295)
Number of securities with unrealized losses			51				—				51
	December 31, 2022
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	22,905	$	(29)	$	—	$	—	$	22,905	$	(29)
Commercial paper	88,860		(176)		—		—		88,860		(176)
U.S. treasury securities	$	67,489	$	(179)	$	—	$	—	$	67,489	$	(179)
Total	$	179,254	$	(384)	$	—	$	—	$	179,254	$	(384)
Number of securities with unrealized losses			55				—				55

Summary of the Scheduled Maturity of Company Investments

The following table summarizes the scheduled maturity for the Company’s debt investments at March 31, 2023 (in thousands):

Maturing in one year or less	$	198,801
Maturing after one year through two years	31,322
Total debt investments	$	230,123