Short-term and Long-term Investments

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Short-term and Long-term Investments

Short-term and Long-term Investments

The Company's investments are classified as available-for-sale. The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of March 31, 2022:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value
U.S. government debt securities	$	102,771	$	—	$	(1,133)	$	101,638
Certificates of deposit	97		—		—		97
Total	$	102,868	$	—	$	(1,133)	$	101,735

The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investments as of December 31, 2021:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Aggregate Fair Value
U.S. government debt securities	$	121,036	$	—	$	(331)	$	120,705
Certificates of deposit	97		—		—		97
Total	$	121,133	$	—	$	(331)	$	120,802

The estimated fair value of available-for-sale investments classified by their contractual maturities as of March 31, 2022 was:

Due within one year	$	71,821
After one year through two years	29,914
Total	$	101,735

Changes in market interest rates and bond yields cause certain investments to fall below their cost basis, resulting in unrealized losses on investments.