Cash and Cash Equivalents and Short-Term Investments

12 Months Ended

Dec. 31, 2020

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash and Cash equivalents and Short-term investments

Cash and Cash equivalents and Short-term investments

a.Cash and cash equivalents:

Cash equivalents include items almost as liquid as cash, such as certificates of deposit and time deposits with maturity periods of three months or less when purchased.

	December 31,
	2020		2019
Cash	$	20,339	$	18,377
Money market funds	214,335		158,944
Total cash and cash equivalents	$	234,674	$	177,321

b.    Short-term investments

The Company invests in marketable U.S. Treasury Bills ("T-bills") that are classified as held-to-maturity securities. The amortized cost and recorded basis of the T-bills are presented as short-term investments.

	December 31,
	2020		2019
Short-term investments	$	607,902	$	148,769

Quoted market prices were applied to determine the fair value of cash equivalents and short-term investments, therefore they are categorized as Level 1 in accordance with ASC 820, "Fair Value Measurements and Disclosures." The estimated fair value of our short-term investments as of December 31, 2020 and 2019 was $607,905 and $148,738, respectively.