| Summary of Financial Assets Measured at Fair Value on Recurring Basis |
The following table presents the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2021 (in thousands):
|
|
|
|
|
March 31, 2021 |
|
|
|
|
Valuation |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
|
|
|
|
|
|
Hierarchy |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Fair Value |
|
|
Money market funds |
|
Level 1 |
|
$ |
53,011 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
53,011 |
|
|
Commercial paper |
|
Level 2 |
|
|
74,420 |
|
|
|
— |
|
|
|
(6 |
) |
|
|
74,414 |
|
|
Agency bonds |
|
Level 2 |
|
|
21,367 |
|
|
|
14 |
|
|
|
— |
|
|
|
21,381 |
|
|
Corporate debt securities |
|
Level 2 |
|
|
18,794 |
|
|
|
1 |
|
|
|
(9 |
) |
|
|
18,786 |
|
|
Municipal bonds |
|
Level 2 |
|
|
6,241 |
|
|
|
2 |
|
|
|
— |
|
|
|
6,243 |
|
|
U.S. government bonds |
|
Level 2 |
|
|
5,554 |
|
|
|
2 |
|
|
|
— |
|
|
|
5,556 |
|
|
Non-U.S. debt securities |
|
Level 2 |
|
|
2,537 |
|
|
|
— |
|
|
|
— |
|
|
|
2,537 |
|
|
Total cash equivalents and available-for-sale securities |
|
|
|
$ |
181,924 |
|
|
$ |
19 |
|
|
$ |
(15 |
) |
|
$ |
181,928 |
|
|
Classified as: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
60,310 |
|
|
Short-term available-for-sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
121,618 |
|
|
Total cash equivalents and available-for-sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
181,928 |
|
The following table presents the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2020 (in thousands):
|
|
|
|
|
December 31, 2020 |
|
|
|
|
Valuation |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
|
|
|
|
|
|
Hierarchy |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Fair Value |
|
|
Money market funds |
|
Level 1 |
|
$ |
46,134 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
46,134 |
|
|
Commercial paper |
|
Level 2 |
|
|
76,605 |
|
|
|
— |
|
|
|
(2 |
) |
|
|
76,603 |
|
|
Agency bonds |
|
Level 2 |
|
|
29,654 |
|
|
|
15 |
|
|
|
— |
|
|
|
29,669 |
|
|
Corporate debt securities |
|
Level 2 |
|
|
11,890 |
|
|
|
— |
|
|
|
(6 |
) |
|
|
11,884 |
|
|
U.S. government bonds |
|
Level 2 |
|
|
7,093 |
|
|
|
— |
|
|
|
— |
|
|
|
7,093 |
|
|
Municipal bonds |
|
Level 2 |
|
|
5,592 |
|
|
|
2 |
|
|
|
(1 |
) |
|
|
5,593 |
|
|
U.S. treasury bills |
|
Level 2 |
|
|
4,680 |
|
|
|
— |
|
|
|
— |
|
|
|
4,680 |
|
|
Agency discount securities |
|
Level 2 |
|
|
200 |
|
|
|
— |
|
|
|
— |
|
|
|
200 |
|
|
Total cash equivalents and available-for-sale securities |
|
|
|
$ |
181,848 |
|
|
$ |
17 |
|
|
$ |
(9 |
) |
|
$ |
181,856 |
|
|
Classified as: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
75,410 |
|
|
Short-term available-for-sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
106,446 |
|
|
Total cash equivalents and available-for-sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
181,856 |
|
|
| Schedule of Contractual Maturities of Available-for-Sale Securities |
The following table summarizes the Company’s available-for-sale securities by contractual maturity as of March 31, 2021 (in thousands):
|
|
|
March 31, 2021 |
|
|
Within one year |
|
$ |
173,388 |
|
|
After one year through two years |
|
|
8,540 |
|
|
Total cash equivalents and available-for-sale securities |
|
$ |
181,928 |
|
The following table summarizes the Company’s available-for-sale securities by contractual maturity as of December 31, 2020 (in thousands):
|
|
|
December 31, 2020 |
|
|
Within one year |
|
$ |
160,304 |
|
|
After one year through two years |
|
|
21,552 |
|
|
Total cash equivalents and available-for-sale securities |
|
$ |
181,856 |
|
|