Quarterly report pursuant to Section 13 or 15(d)

Cash, Cash Equivalents and Investments

v3.10.0.1
Cash, Cash Equivalents and Investments
 6 Months Ended
Jun. 30, 2018
Cash and Cash Equivalents [Abstract]  
Cash, cash equivalents and investments
Cash, cash equivalents and investments
As of June 30, 2018 and December 31, 2017, cash, cash equivalents, and investments comprised of 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 (in thousands):
 
Total
Quoted prices in active markets (Level 1)
Significant other observable inputs (Level 2)
Significant unobservable inputs
(Level 3)
June 30, 2018
 
 
 
 
Money market funds, included in cash equivalents
$
915

$
915

$
—

$
—

Investments - U.S. treasuries
10,972

10,972

—

—

Investments - Asset-backed securities
11,322

—

11,322

—

Investments - Corporate bonds
78,805

—

78,805

—

Total
$
102,014

$
11,887

$
90,127

$
—

 
 
 
 
 
December 31, 2017
 
 
 
 
Money market funds, included in cash equivalents
$
4,583

$
4,583

$
—

$
—

Corporate bonds, included in cash equivalents
13,595

—

13,595

—

Investments - U.S. treasuries
4,172

4,172

—

—

Investments - Asset-backed securities
6,384

—

6,384

—

Investments - Corporate bonds
34,117

—

34,117

—

Total
$
62,851

$
8,755

$
54,096

$
—


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 June 30, 2018.
Cash equivalents and investments at June 30, 2018 consist of the following (in thousands):
 
Contractual maturity
(in days)
Amortized Cost
Unrealized gains
Unrealized losses
Fair Value
Investments
 
 
 
 
 
U.S. treasuries
12-159
$
11,009

$
—

$
(37
)
$
10,972

Asset-backed securities
16-319
10,640

12

(30
)
10,622

Asset-backed securities
greater than 365
699

1

—

700

Corporate bonds
3-299
77,968

969

(132
)
78,805

Total
 
$
100,316

$
982

$
(199
)
$
101,099


The Company recorded $0.1 million of realized gains and $0.1 million of realized losses from the maturity of available-for-sale securities during the three and six months ended June 30, 2018, respectively. No realized gains or losses were recognized during the three and six months ended June 30, 2017, respectively.