Annual report pursuant to Section 13 and 15(d)

Marketable Securities

v3.21.1
Marketable Securities
12 Months Ended
Dec. 31, 2020
Cash and Cash Equivalents [Abstract]  
Marketable Securities
3. Marketable Securities
Marketable available-for-sale securities consist of the following (in thousands):
 
    
Amortized

Cost
    
Gross

Unrealized

Gains
    
Gross

Unrealized

Losses
    
Estimated

Fair Value
 
As of December 31, 2020:
                                   
Cash equivalents:
                                   
Money market funds
   $ 22,415      $ —        $ —        $ 22,415  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total cash equivalents
     22,415        —          —          22,415  
Short-term investments:
                                   
U.S. and foreign commercial paper
     38,561        —          —          38,561  
U.S. and foreign corporate debt securities
     29,186        7        (4      29,189  
Asset-backed securities
     7,883        2        —          7,885  
U.S. treasury securities
     23,991        3        —          23,994  
U.S. agency securities
     15,498       
1
       —          15,499  
Supranational debt securities
 
 
3,003
 
 
 
— 
 
 
 
(1
)
 
 
3,002
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total short-term investments
     118,122        13        (5      118,130  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total marketable securities
     140,537        13        (5      140,545  
    
 
 
    
 
 
    
 
 
    
 
 
 
    
Amortized

Cost
    
Gross

Unrealized

Gains
    
Gross

Unrealized

Losses
    
Estimated

Fair Value
 
As of December 31, 2019:
                                   
Cash equivalents:
                                   
Money market funds
   $ 18,597      $ —        $ —        $ 18,597  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total cash equivalents
     18,597        —         
 
 
       18,597  
Short-term investments:
                                   
U.S. and foreign commercial paper
     51,102        —          —          51,102  
U.S. and foreign corporate debt securities
     56,691        38        —          56,729  
Asset-backed securities
     39,756        33        —          39,789  
U.S. treasury securities
     18,447        9        —          18,456  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total short-term investments
     165,996        80        —          166,076  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total marketable securities
     184,593        80        —          184,673  
    
 
 
    
 
 
    
 
 
    
 
 
 
The Company’s commercial paper and corporate debt securities consist of U.S. and foreign securities from issuers in various sectors, including finance and industry. The Company’s asset-backed securities are collateralized by credit card receivables and have investment-grade ratings. The Company’s government securities are issued by the U.S. treasury and certain U.S. government-backed agencies. Supranational debt securities consist of securities issued with funding from various national governments, including the U.S.
As of December 31, 2020 and 2019, the remaining contractual maturities of the Company’s commercial paper, corporate debt securities, asset-backed securities, U.S. treasury and agency securities
and supranational debt securities 
were less than 1 year. There were no realized gains and losses for the years ended December 31, 2020 and 2019. None of these investments have been in a continuous unrealized loss position for more than 12 months as of December 31, 2020 and 2019.
See Note 2 for further information regarding the fair value of the Company’s financial instruments.