Annual report pursuant to Section 13 and 15(d)

Cash, Cash Equivalents and Investments

v3.21.1
Cash, Cash Equivalents and Investments
 12 Months Ended
Dec. 31, 2020
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Investments Cash, Cash Equivalents and Investments
As of December 31, 2020 and 2019, cash, cash equivalents and investment comprised funds in depository, money market accounts, U.S. treasury securities, asset backed securities, and corporate bonds. The following table presents the cash equivalents and investments carried at fair value in accordance with the hierarchy defined in Note 2 at December 31, 2020 and 2019 (in thousands):
Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs
(Level 3)
December 31, 2020
Money market funds, included in cash equivalents $ 63,951  $ 63,951  $ —  $ — 
Total $ 63,951  $ 63,951  $ —  $ — 
Total Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs
(Level 3)
December 31, 2019
Money market funds, included in cash equivalents $ 47,384  $ 47,384  $ —  $ — 
Investments - US treasuries 5,300  5,300  —  — 
Investments - Asset-backed securities 7,950  —  7,950  — 
Investments - Corporate bonds 28,644  —  28,644  — 
Total $ 89,278  $ 52,684  $ 36,594  $ — 

Cash equivalents and marketable securities have been initially valued at the transaction price and subsequently valued, at the end of each reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation models, including both income and market-based approaches and observable market inputs to determine value. The Company validates the prices provided by its third-party pricing services by reviewing their pricing methods and obtaining market values from other pricing sources, as needed. After completing its validation procedures, the Company did not adjust any fair value measurements provided by the pricing services as of December 31, 2019.
Investments at December 31, 2019 consist of the following (in thousands):
Contractual maturity
(in days)		 Amortized Cost Unrealized gains Unrealized losses Fair Value
Investments
US treasuries
46-182
 $ 5,293  $ 25  $ (18) $ 5,300 
Asset-backed securities
49-106
 7,962  12  (24) 7,950 
Corporate bonds
2-204
 28,709  20  (85) 28,644 
Total $ 41,964  $ 57  $ (127) $ 41,894 

There were $0.6 million of realized losses for the year ended December 31, 2020 and $0.3 million of realized gains for the year ended December 31, 2019.