Investments

3 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

5. Investments
 

The following table summarizes the fair value of our investments and marketable securities as of June 30, 2023:

	June 30, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Commercial paper	$	13,693	$	—	$	—		$	13,693
Money market funds		5,083		—		—			5,083
Total cash and cash equivalents		18,776		—		—			18,776
United States treasury securities		73,476		—		(393	)		73,083
Agency securities		36,068		—		(157	)		35,911
Corporate notes and bonds		22,595		—		(176	)		22,419
Commercial paper		16,367		—		(8	)		16,359
Total marketable securities		148,506		—		(734	)		147,772
Total investments	$	167,282	$	—	$	(734	)	$	166,548

	March 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Commercial paper	$	10,795	$	—	$	—		$	10,795
United States treasury securities		9,977		2		—			9,979
Money market funds		5,976		—		—			5,976
Corporate notes and bonds		3,349		—		—			3,349
Agency securities		842		—		—			842
Total cash and cash equivalents		30,939		2		—			30,941
United States treasury securities		56,795		99		(4	)		56,890
Agency securities		37,999		16		(24	)		37,991
Corporate notes and bonds		26,631		14		(55	)		26,590
Commercial paper		18,147		—		(6	)		18,141
Total marketable securities		139,572		129		(89	)		139,612
Total investments	$	170,511	$	131	$	(89	)	$	170,553

We do not intend to sell, nor is it more likely than not that we will be required to sell, any investments in unrealized loss positions prior to the recovery of their amortized cost basis. We did not recognize any credit losses related to our investments during the three months ended June 30, 2023. The unrealized losses on our investments were due to changes in interest rates and market conditions subsequent to initial purchase. None of the investments held as of June 30, 2023 were in a continuous unrealized loss position for greater than 12 months. Realized gains from the sale of our investments that were reclassified out of accumulated other comprehensive loss were not significant during the three months ended June 30, 2023.

The following table presents the contractual maturities of our investments and marketable securities as June 30, 2023:

	Amortized Cost		Fair Value
Due within one year	$	113,172	$	112,932
Due after one year through five years		54,110		53,616
Total		167,282		166,548