Investments |
Investments Amortized cost, gross unrealized gains/losses in accumulated other comprehensive loss and fair value of marketable debt securities, available-for-sale, by type of security as of March 31, 2023 and December 31, 2022 consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2023 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Short-term investments: | | | | | | | | Corporate debt security | $ | 24,185 | | | $ | — | | | $ | (303) | | | $ | 23,882 | | U.S. treasuries | 651 | | | — | | | (1) | | | 650 | | Asset-backed security and other | 3,029 | | | — | | | (33) | | | 2,996 | | | | | | | | | | | | | | | | | | | $ | 27,865 | | | $ | — | | | $ | (337) | | | $ | 27,528 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Short-term investments: | | | | | | | | Corporate debt security | $ | 40,177 | | | $ | — | | | $ | (612) | | | $ | 39,565 | | U.S. treasuries | 2,201 | | | — | | | (21) | | | 2,180 | | Asset-backed security and other | 5,324 | | | — | | | (76) | | | 5,248 | | Non-U.S. government and supranational bonds | 3,685 | | | — | | | (30) | | | 3,655 | | | | | | | | | | | $ | 51,387 | | | $ | — | | | $ | (739) | | | $ | 50,648 | |
As of March 31, 2023, no allowance for credit losses was recorded related to an impairment of available-for-sale securities.
The Company’s investments in marketable debt securities, available-for-sale that have been in a continuous unrealized loss position by type of security as of March 31, 2023 and December 31, 2022 consisted of the following (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2023 | | Less than 12 months | | 12 months or greater | | Total | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | Corporate debt security | $ | 405 | | | $ | — | | | $ | 23,477 | | | $ | (303) | | | $ | 23,882 | | | $ | (303) | | U.S. treasuries | — | | | — | | | 650 | | | (1) | | | 650 | | | (1) | | Asset-backed security and other | — | | | — | | | 2,996 | | | (33) | | | 2,996 | | | (33) | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 405 | | | $ | — | | | $ | 27,123 | | | $ | (337) | | | $ | 27,528 | | | $ | (337) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | Less than 12 months | | 12 months or greater | | Total | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | Corporate debt security | $ | 1,790 | | | $ | (2) | | | $ | 37,775 | | | $ | (610) | | | $ | 39,565 | | | $ | (612) | | U.S. treasuries | — | | | — | | | 2,180 | | | (21) | | | 2,180 | | | (21) | | Asset-backed security and other | — | | | — | | | 5,248 | | | (76) | | | 5,248 | | | (76) | | Non-U.S. government and supranational bonds | — | | | — | | | 3,655 | | | (30) | | | 3,655 | | | (30) | | | | | | | | | | | | | | | $ | 1,790 | | | $ | (2) | | | $ | 48,858 | | | $ | (737) | | | $ | 50,648 | | | $ | (739) | |
Gross realized gains and gross realized losses from the sales of the Company’s marketable debt securities, available-for-sale for the three months ended March 31, 2023 and 2022 consisted of the following (in thousands): | | | | | | | | | | | | | Three Months Ended March 31, | | 2023 | | 2022 | Gross realized gains | $ | — | | | $ | — | | Gross realized losses | $ | (91) | | | $ | (6) | |
Amortized cost and fair value of marketable debt securities, available-for-sale by contractual maturity as of March 31, 2023 consisted of the following (in thousands, except weighted average data):
| | | | | | | | | | | | | Amortized Cost | | Fair Value | Due in one year or less | $ | 27,865 | | | $ | 27,528 | | Weighted average contractual maturity | | | 0.3 years |
Amortized cost and fair value of marketable debt securities, available-for-sale by contractual maturity as of December 31, 2022 consisted of the following (in thousands, except weighted average data): | | | | | | | | | | | | | Amortized Cost | | Fair Value | Due in one year or less | $ | 51,387 | | | $ | 50,648 | | Weighted average contractual maturity | | | 0.3 years |
Actual maturities may differ from contractual maturities because certain issuers may have the right or obligation to prepay certain obligations with or without penalties.
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