Financial Instruments

9 Months Ended

Sep. 30, 2024

The fair value and amortized cost of cash equivalents and available-for-sale investments by major security type are presented in the following table (in thousands):


	September 30, 2024
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents and investments:
Money market funds	$	195,823	$	—	$	—	$	195,823
U.S. treasury bills	8,899		18		—		8,917
Corporate debt securities	35,950		117		(2)		36,065
U.S. government bonds	20,684		161		—		20,845
Agency bonds	4,966		4		—		4,970
Total cash equivalents and investments	$	266,322	$	300	$	(2)	$	266,620
Classified as:
Cash equivalents							$	195,823
Short-term investments							61,476
Long-term investments							9,321
Total cash equivalents and investments							$	266,620


	December 31, 2023
	Amortized Cost		Unrealized Gain		Unrealized Loss		Estimated Fair Value
Cash equivalents:
Money market funds	$	278,116	$	—	$	—	$	278,116
Total cash equivalents	$	278,116	$	—	$	—	$	278,116
Classified as:
Cash equivalents							$	278,116
Total cash equivalents							$	278,116

As of September 30, 2024, the remaining contractual maturities of available-for-sale debt securities were as follows (in thousands):


	Estimated Fair Value
Due within one year	$	61,476
One to two years	9,321
Total	$	70,797

During the three and nine months ended September 30, 2024 and 2023, there have been no significant realized gains or losses on available-for-sale investments, no investments have been in a continuous unrealized loss position for more than 12 months, and the Company did not recognize any material unrealized gains or losses on these securities.