| Schedule of Investments in Marketable Securities |
Investments in marketable securities consisted of the following (in thousands):
|
|
|
September 30, 2020 |
|
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gain |
|
|
Gross
Unrealized
Loss |
|
|
Fair Value |
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
56,444 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
56,444 |
|
|
Total cash equivalents |
|
|
56,444 |
|
|
|
— |
|
|
|
— |
|
|
|
56,444 |
|
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. and foreign corporate debt securities |
|
|
36,739 |
|
|
|
48 |
|
|
|
(1 |
) |
|
|
36,786 |
|
|
Asset-backed securities |
|
|
13,394 |
|
|
|
16 |
|
|
|
(1 |
) |
|
|
13,409 |
|
|
U.S. treasury securities |
|
|
48,018 |
|
|
|
69 |
|
|
|
— |
|
|
|
48,087 |
|
|
U.S. and foreign commercial paper |
|
|
81,348 |
|
|
|
— |
|
|
|
— |
|
|
|
81,348 |
|
|
Total short-term investments |
|
|
179,499 |
|
|
|
133 |
|
|
|
(2 |
) |
|
|
179,630 |
|
|
Total cash equivalents and investments |
|
$ |
235,943 |
|
|
$ |
133 |
|
|
$ |
(2 |
) |
|
$ |
236,074 |
|
|
|
|
December 31, 2019 |
|
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gain (1) |
|
|
Gross
Unrealized
Loss (1) |
|
|
Fair Value |
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
33,095 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
33,095 |
|
|
U.S. and foreign corporate debt securities |
|
|
5,000 |
|
|
|
— |
|
|
|
(1 |
) |
|
|
4,999 |
|
|
U.S. and foreign commercial paper |
|
|
4,484 |
|
|
|
— |
|
|
|
— |
|
|
|
4,484 |
|
|
Total cash equivalents |
|
|
42,579 |
|
|
|
— |
|
|
|
(1 |
) |
|
|
42,578 |
|
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. and foreign corporate debt securities |
|
|
72,452 |
|
|
|
38 |
|
|
|
(4 |
) |
|
|
72,486 |
|
|
Asset-backed securities |
|
|
34,008 |
|
|
|
17 |
|
|
|
— |
|
|
|
34,025 |
|
|
U.S. treasury securities |
|
|
44,692 |
|
|
|
24 |
|
|
|
(2 |
) |
|
|
44,714 |
|
|
U.S. and foreign commercial paper |
|
|
76,086 |
|
|
|
— |
|
|
|
— |
|
|
|
76,086 |
|
|
Total short-term investments |
|
|
227,238 |
|
|
|
79 |
|
|
|
(6 |
) |
|
|
227,311 |
|
|
Total cash equivalents and investments |
|
$ |
269,817 |
|
|
$ |
79 |
|
|
$ |
(7 |
) |
|
$ |
269,889 |
|
|
(1) |
Gross unrealized gain (loss) is pre-tax. |
|
| Schedule of Fair Value of Financial Assets |
The following tables present the fair value of the Company’s financial assets measured at fair value on a recurring basis (in thousands):
|
|
|
September 30, 2020 |
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Fair Value |
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
56,444 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
56,444 |
|
|
Total cash equivalents |
|
|
56,444 |
|
|
|
— |
|
|
|
— |
|
|
|
56,444 |
|
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. and foreign corporate debt securities |
|
|
— |
|
|
|
36,786 |
|
|
|
— |
|
|
|
36,786 |
|
|
Asset-backed securities |
|
|
— |
|
|
|
13,409 |
|
|
|
— |
|
|
|
13,409 |
|
|
U.S. treasury securities |
|
|
— |
|
|
|
48,087 |
|
|
|
— |
|
|
|
48,087 |
|
|
U.S. and foreign commercial paper |
|
|
— |
|
|
|
81,348 |
|
|
|
— |
|
|
|
81,348 |
|
|
Total short-term investments |
|
|
— |
|
|
|
179,630 |
|
|
|
— |
|
|
|
179,630 |
|
|
Total assets measured at fair value |
|
$ |
56,444 |
|
|
$ |
179,630 |
|
|
$ |
— |
|
|
$ |
236,074 |
|
|
|
|
December 31, 2019 |
|
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Fair Value |
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market fund |
|
$ |
33,095 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
33,095 |
|
|
U.S. and foreign corporate debt securities |
|
|
— |
|
|
|
4,999 |
|
|
|
— |
|
|
|
4,999 |
|
|
U.S. and foreign commercial paper |
|
|
— |
|
|
|
4,484 |
|
|
|
— |
|
|
|
4,484 |
|
|
Total cash equivalents |
|
|
33,095 |
|
|
|
9,483 |
|
|
|
— |
|
|
|
42,578 |
|
|
Short-term investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. and foreign corporate debt securities |
|
|
— |
|
|
|
72,486 |
|
|
|
— |
|
|
|
72,486 |
|
|
Asset-backed securities |
|
|
— |
|
|
|
34,025 |
|
|
|
— |
|
|
|
34,025 |
|
|
U.S. treasury securities |
|
|
— |
|
|
|
44,714 |
|
|
|
— |
|
|
|
44,714 |
|
|
U.S. and foreign commercial paper |
|
|
— |
|
|
|
76,086 |
|
|
|
— |
|
|
|
76,086 |
|
|
Total short-term investments |
|
|
— |
|
|
|
227,311 |
|
|
|
— |
|
|
|
227,311 |
|
|
Total assets measured at fair value |
|
$ |
33,095 |
|
|
$ |
236,794 |
|
|
$ |
— |
|
|
$ |
269,889 |
|
|