Investments

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

Note 4—Investments

The following table summarizes our investments:

	June 30, 2023						December 31, 2022
$ in thousands	Amortized Cost		Unrealized Losses		Fair Value		Amortized Cost		Unrealized Losses		Fair Value
Corporate bonds	$	—	$	—	$	—	$	3,997	$	(22)	$	3,975
Commercial paper	9,809		(5)		9,804		10,837		(3)		10,834
U.S. treasury bills	54,611		(106)		54,505		82,979		(284)		82,695
Total investments	$	64,420	$	(111)	$	64,309	$	97,813	$	(309)	$	97,504

As of June 30, 2023 and December 31, 2022, all of our investments are classified as available-for-sale, have original maturities of one year or less and are disclosed as investments on our consolidated balance sheets.

The cost of securities sold is based on the specific-identification method. During the six months ended June 30, 2023, there were no sales of investments. During the six months ended June 30, 2022, we realized losses of $0.2 million on the sale of investments, included in other income, net on our consolidated statements of operations related to $65.8 million in proceeds from the sale of investments.

There were no credit losses recognized during the three and six months ended June 30, 2023 and 2022 and no allowance for credit losses as of June 30, 2023 and December 31, 2022.