Marketable securities

9 Months Ended

Sep. 30, 2023

Marketable securities as of September 30, 2023 consisted of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities, current:
Corporate debt securities	$	105,508	$	7	$	(503)	$	105,012
U.S. government debt securities	40,898		—		(223)		40,675
U.S. Treasury securities	9,914		—		(3)		9,911
Marketable securities, non-current:
Corporate debt securities	22,112		—		(128)		21,984
U.S. government debt securities	7,927		—		(54)		7,873

Total marketable securities, current and non-current	$	186,359	$	7	$	(911)	$	185,455

Marketable securities as of December 31, 2022 consisted of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable securities, current:
Corporate debt securities	$	183,270	$	2	$	(2,068)	$	181,204
U.S. government debt securities	40,986		—		(1,184)		39,802
U.S. Treasury securities	25,650		—		(257)		25,393
Marketable securities, non-current:
Corporate debt securities	53,592		2		(471)		53,123
U.S. government debt securities	8,000		—		(161)		7,839

Total marketable securities, current and non-current	$	311,498	$	4	$	(4,141)	$	307,361

Marketable securities classified as current have maturities of less than one year and are classified as available-for-sale. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) are not intended to be liquidated within the next twelve months, although these funds are available for use and, therefore, are

classified as available-for-sale. No available-for-sale debt securities held as of September 30, 2023 or December 31, 2022 had remaining maturities greater than five years.

Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at September 30, 2023 and December 31, 2022, related to these securities.