Marketable securities |
Marketable securities Marketable securities at December 31, 2023 consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Marketable securities, current: | | | | | | | | Corporate debt securities | $ | 100,903 | | | $ | 16 | | | $ | (221) | | | $ | 100,698 | | U.S. government debt securities | 20,457 | | | 14 | | | (43) | | | 20,428 | | U.S. Treasury securities | 5,965 | | | 1 | | | — | | | 5,966 | | Marketable securities, non-current | | | | | | | | Corporate debt securities | 27,901 | | | 120 | | | (14) | | | 28,007 | | | | | | | | | | | | | | | | | | Total marketable securities, current and non-current | $ | 155,226 | | | $ | 151 | | | $ | (278) | | | $ | 155,099 | |
Marketable securities at December 31, 2022 consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Marketable securities, current: | | | | | | | | Corporate debt securities | $ | 183,270 | | | $ | 2 | | | $ | (2,068) | | | $ | 181,204 | | U.S. government debt securities | 40,986 | | | — | | | (1,184) | | | 39,802 | | U.S. Treasury securities | 25,650 | | | — | | | (257) | | | 25,393 | | Marketable securities, non-current | | | | | | | | Corporate debt securities | 53,592 | | | 2 | | | (471) | | | 53,123 | | U.S. government debt securities | 8,000 | | | — | | | (161) | | | 7,839 | | | | | | | | | | Total marketable securities, current and non-current | $ | 311,498 | | | $ | 4 | | | $ | (4,141) | | | $ | 307,361 | |
Marketable securities classified as current have maturities of less than one year. Marketable securities classified as non-current are those that: (i) have a maturity of greater than one year, and (ii) we do not intend to liquidate within the next twelve months, although these funds are available for use and, therefore, are classified as available-for-sale. No available- for-sale debt securities held as of December 31, 2023 or December 31, 2021 had remaining maturities greater than five years. Marketable securities in unrealized loss positions as of December 31, 2023 consisted of the following (in thousands, except number of securities): | | | | | | | | | | | | | | | | | | | Number of Securities | | Fair Value | | Gross Unrealized Losses | Marketable securities in continuous unrealized loss position for less than 12 months: | | | | | | Corporate debt securities | 64 | | $ | 68,563 | | | $ | (146) | | U.S. government debt securities | 9 | | 11,914 | | | (22) | | | | | | | | Marketable securities in continuous unrealized loss position for greater than 12 months: | | | | | | Corporate debt securities | 18 | | 22,138 | | | (89) | | U.S. government debt securities | 3 | | 5,979 | | | (21) | | | | | | | | Total marketable securities in unrealized loss position | 94 | | $ | 108,594 | | | $ | (278) | |
Marketable securities in unrealized loss positions as of December 31, 2022 consisted of the following (in thousands, except number of securities): | | | | | | | | | | | | | | | | | | | Number of Securities | | Fair Value | | Gross Unrealized Losses | Marketable securities in continuous unrealized loss position for less than 12 months: | | | | | | Corporate debt securities | 63 | | $ | 134,027 | | | $ | (1,262) | | U.S. government debt securities | 6 | | 15,748 | | | (245) | | U.S. Treasury securities | 4 | | 5,575 | | | (11) | | Marketable securities in continuous unrealized loss position for greater than 12 months: | | | | | | Corporate debt securities | 36 | | 82,375 | | | (1,277) | | U.S. government debt securities | 7 | | 31,892 | | | (1,100) | | U.S. Treasury securities | 4 | | 19,817 | | | (246) | | Total marketable securities in unrealized loss position | 120 | | $ | 289,434 | | | $ | (4,141) | |
Based on factors such as historical experience, market data, issuer-specific factors, and current economic conditions, the Company did not record an allowance for credit losses at December 31, 2023 and December 31, 2022, related to these securities.
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