The following tables present the costs, net unrealized losses, and fair value by major security type for our investments as of March 31, 2024 and December 31, 2023 (in thousands):


	As of March 31, 2024
	Cost		Net Unrealized Losses		Fair Value		Cash and Cash equivalents		Short-term Investments		Long-term Investments
Cash	$	119,562	$	—	$	119,562	$	119,562	$	—	$	—
Level 1:
Money market funds	139,523		—		139,523		139,523		—		—
Commercial paper	14,876		(2)		14,874		—		14,874		—
Subtotal	154,399		(2)		154,397		139,523		14,874		—
Level 2:
Certificates of deposit	20,957		14		20,971		—		20,971		—
U.S. Government and agency securities	51,406		(168)		51,238		—		38,933		12,305
Corporate bonds	31,203		12		31,215		—		18,343		12,872
Subtotal	103,566		(142)		103,424		—		78,247		25,177
Level 3:	—		—		—		—		—		—
Total	$	377,527	$	(144)	$	377,383	$	259,085	$	93,121	$	25,177


	As of December 31, 2023
	Cost		Net Unrealized Losses		Fair Value		Cash and Cash equivalents		Short-term Investments		Long-term Investments
Cash	$	130,566	$	—	$	130,566	$	130,566	$	—	$	—
Level 1:
Money market funds	147,652		—		147,652		147,652		—		—
Commercial paper	16,408		11		16,419		—		16,419		—
Subtotal	164,060		11		164,071		147,652		16,419		—
Level 2:
Certificates of deposit	15,366		21		15,387		—		15,387		—
U.S. Government and agency securities	49,393		(73)		49,320		—		33,198		16,122
Corporate bonds	28,927		26		28,953		—		19,327		9,626
Subtotal	93,686		(26)		93,660		—		67,912		25,748
Level 3:	—		—		—		—		—		—
Total	$	388,312	$	(15)	$	388,297	$	278,218	$	84,331	$	25,748