Schedule of cash, money market funds and short-term investments |
Cash equivalents consist of the following (in thousands): | | | | | | | | | June 30, | | December 31, | | | 2021 | | 2020 | | | | | | | | Cash equivalents | | $ | 63,096 | | $ | 49,720 | | | | | | | | Cash equivalents total | | $ | 63,096 | | $ | 49,720 |
|
Schedule of available-for-sale debt securities |
The following table summarizes the Company’s investments that are classified as available-for-sale debt securities (in thousands): | | | | | | | | | June 30, | | December 31, | | | 2021 | | 2020 | | | | | | | | Short-term investments | | $ | 573,605 | | $ | 562,108 | Long-term investments | | | 46,288 | | | — | Investments total | | $ | 619,893 | | $ | 562,108 |
|
Schedule of cost and fair value of cash equivalents and short-term investments |
The following table summarizes the classification of the Company’s available-for-sale debt securities in its Condensed Consolidated Balance Sheets (in thousands): | | | | | | | | | June 30, | | December 31, | Investments | | 2021 | | 2020 | U.S. treasury securities | | $ | 313,661 | | $ | 470,109 | U.S. government agency securities | | | 11,145 | | | 91,999 | Corporate securities | | | 27,193 | | | — | Commercial paper | | | 267,894 | | | — | Investments total | | $ | 619,893 | | $ | 562,108 |
The cost and fair value of investments as of June 30, 2021 and December 31, 2020 were as follows (in thousands): | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | | | As of June 30, 2021 | | Cost | | Gains | | Losses | | Fair Value | U.S. treasury securities | | $ | 313,655 | | $ | 28 | | $ | (22) | | $ | 313,661 | U.S. government agency securities | | | 11,144 | | | 1 | | | — | | | 11,145 | Corporate securities | | | 27,203 | | | — | | | (10) | | | 27,193 | Commercial papers | | | 267,858 | | | 44 | | | (8) | | | 267,894 | Total | | $ | 619,860 | | $ | 73 | | $ | (40) | | $ | 619,893 |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | | | As of December 31, 2020 | | Cost | | Gains | | Losses | | Fair Value | U.S. treasury securities | | $ | 470,108 | | $ | 30 | | $ | (29) | | $ | 470,109 | U.S. government agency securities | | | 91,981 | | | 20 | | | (2) | | | 91,999 | Total | | $ | 562,089 | | $ | 50 | | $ | (31) | | $ | 562,108 |
|
Schedule of available-for-sale debt securities by contractual maturity |
The following table summarizes the Company’s available-for-sale debt securities by contractual maturity (in thousands): | | | | | | | | | June 30, 2021 | | | Amortized Cost | | Fair Value | | | | | | | | Within one year | | $ | 573,549 | | $ | 573,605 | One year to two years | | | 46,311 | | | 46,288 | Investments total | | $ | 619,860 | | $ | 619,893 |
|