Cash Equivalents and Investments

12 Months Ended

Dec. 31, 2020

Cash and Cash Equivalents [Abstract]

Marketable debt securities held by the Company are classified as available-for-sale pursuant to ASC 320, Investments – Debt and Equity Securities, and carried at fair value in the balance sheets on a settlement date basis. The following tables summarize the gross unrealized gains and losses of the Company’s marketable securities as of December 31, 2020 and December 31, 2019:


	December 31, 2020
			Gross Unrealized
	Amortized Cost		Gains		Losses		Credit Losses		Estimated Fair Value
Money market funds	$	3,698	$	—	$	—	$	—	$	3,698
Commercial paper	8,993		1		—		—		8,994
Corporate notes	35,917		—		—		(6)		35,911
U.S. government securities	12,828		14		—		—		12,842
U.S. government agency bonds	5,000		1		—		—		5,001
U.S. asset-backed securities	3,534		4		—		—		3,538
	$	69,970	$	20	$	—	$	(6)	$	69,984
Classified as:
Cash equivalents									$	3,698
Short-term investments									42,187
Long-term investments									24,099
									$	69,984


	December 31, 2019
			Gross Unrealized
(In thousands)	Amortized Cost		Gains		Losses		Estimated Fair Value
Money market funds	$	5,381	$	—	$	—	$	5,381

Commercial paper	11,892		—		—		11,892
Corporate notes	18,369		11		—		18,380
U.S. government securities	11,291		4		—		11,295
U.S. asset-backed securities	10,503		6		—		10,509
	$	57,436	$	21	$	—	$	57,457
Classified as:
Cash equivalents							$	5,381
Short-term investments							42,829
Long-term investments							9,247
							$	57,457

As of December 31, 2020, the analysis under ASU 326 and the current macroeconomic impact of the COVID-19 pandemic did not result in material allowances for credit losses. There have been no impairments of the Company’s assets measured and carried at fair value as of December 31, 2020.