| Short and long-term marketable securities |
4. Short and long-term marketable securities The following is a summary of short and long-term marketable securities as of December 31, 2023 and 2022:
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December 31, 2023 |
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Amortized cost |
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Gross unrealized gains |
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Gross unrealized losses |
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Credit losses |
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Fair value |
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Money market funds |
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$ |
|
206,879 |
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$ |
|
— |
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$ |
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— |
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$ |
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— |
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$ |
|
206,879 |
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U.S. Treasury securities |
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117,058 |
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255 |
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(6 |
) |
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— |
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117,307 |
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U.S. Government agency securities |
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133,279 |
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78 |
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(60 |
) |
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— |
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133,297 |
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Commercial paper |
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68,707 |
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10 |
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(9 |
) |
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— |
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68,708 |
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Corporate debt securities |
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15,773 |
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1 |
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— |
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— |
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15,774 |
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$ |
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541,696 |
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$ |
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344 |
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$ |
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(75 |
) |
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$ |
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— |
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$ |
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541,965 |
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Cash equivalents |
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$ |
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206,879 |
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Short-term marketable securities |
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315,803 |
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Long-term marketable securities |
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19,283 |
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$ |
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541,965 |
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December 31, 2022 |
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Amortized cost |
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Gross unrealized gains |
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Gross unrealized losses |
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Credit losses |
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Fair value |
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Money market funds |
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$ |
|
137,286 |
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$ |
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— |
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$ |
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— |
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$ |
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— |
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$ |
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137,286 |
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U.S. Treasury securities |
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58,698 |
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23 |
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— |
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— |
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58,721 |
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Corporate debt securities |
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5,478 |
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— |
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(2 |
) |
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— |
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5,476 |
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U.S. Government agency securities |
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62,939 |
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15 |
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— |
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— |
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62,954 |
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Commercial paper |
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27,739 |
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— |
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— |
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— |
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27,739 |
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$ |
|
292,140 |
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$ |
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38 |
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$ |
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(2 |
) |
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$ |
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— |
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$ |
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292,176 |
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Cash equivalents |
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$ |
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190,500 |
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Short-term marketable securities |
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101,676 |
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$ |
|
292,176 |
|
The following table presents the contractual maturities of our short and long-term marketable securities as of December 31, 2023 and December 31, 2022. |