Cash and Cash Equivalents, and Marketable Securities

12 Months Ended

Dec. 31, 2021

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents, and Marketable Securities

Cash and Cash Equivalents, and Marketable Securities

The following table summarizes the amortized cost and fair value of our cash and cash equivalents and marketable securities by major investment category:

	December 31, 2021
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash and cash equivalents:
Cash	$	32,852	$	—	$	—	$	32,852
Money market funds	29,991		—		—		29,991
Commercial paper	35,337		—		—		35,337
Certificates of deposit	3,000		—		—		3,000
Total cash and cash equivalents	101,180		—		—		101,180
Marketable securities:
Commercial paper	141,718		—		—		141,718
Certificates of deposit	32,253		—		—		32,253
U.S. Government-sponsored enterprises debt securities	6,200		—		—		6,200
Corporate debt securities	20,377		—		(13)		20,364
Total marketable securities	200,548		—		(13)		200,535
Total cash and cash equivalents and marketable securities	$	301,728	$	—	$	(13)	$	301,715

As of December 31, 2021, all investments in marketable securities have contractual maturities due within one year. We regularly review our available-for-sale marketable securities in an unrealized loss position and evaluate the current expected credit loss by considering factors such as historical experience, market data, issuer-specific factors, and current economic conditions. As of December 31, 2021, the aggregate difference between the amortized cost and fair value of each security in an unrealized loss position was de minimis. Since any provision for expected credit losses for a security held is limited to the amount the fair value is less than its amortized cost, no allowance for expected credit loss was deemed necessary at December 31, 2021.

	December 31, 2020
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash and cash equivalents:
Cash	$	23,887	$	—	$	—	$	23,887
Money market funds	80,986		—		—		80,986
Commercial paper	61,043		—		—		61,043
Certificates of deposit	1,000		—		—		1,000
Total cash and cash equivalents	166,916		—		—		166,916
Marketable securities:
U.S. Treasuries	43,050		1		(1)		43,050
Commercial paper	210,986		—		—		210,986
Certificates of deposit	44,480		—		—		44,480
U.S. Government-sponsored enterprises debt securities	6,200		17		—		6,217
Corporate debt securities	33,288		172		—		33,460
Total marketable securities	338,004		190		(1)		338,193
Total cash and cash equivalents and marketable securities	$	504,920	$	190	$	(1)	$	505,109

See Note 7 for further information regarding the fair value of our financial instruments.