| CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS |
4. CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
The Company’s cash equivalents and short-term investments are invested in the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
Amortized Cost |
|
Unrealized Gains |
|
Unrealized Losses |
|
Fair Value |
Money market funds |
|
$ |
126,086 |
|
$ |
— |
|
$ |
— |
|
$ |
126,086 |
Total cash equivalents |
|
|
126,086 |
|
|
— |
|
|
— |
|
|
126,086 |
Commercial paper |
|
|
128,825 |
|
|
— |
|
|
— |
|
|
128,825 |
Corporate bonds |
|
|
86,913 |
|
|
— |
|
|
(14) |
|
|
86,899 |
Government bonds |
|
|
36,524 |
|
|
— |
|
|
(4) |
|
|
36,520 |
Asset-backed securities |
|
|
24,830 |
|
|
1 |
|
|
(3) |
|
|
24,828 |
Total short-term investments |
|
|
277,092 |
|
|
1 |
|
|
(21) |
|
|
277,072 |
Total cash equivalents and short-term investments |
|
$ |
403,178 |
|
$ |
1 |
|
$ |
(21) |
|
$ |
403,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020 |
|
Amortized Cost |
|
Unrealized Gains |
|
Unrealized Losses |
|
Fair Value |
Commercial paper |
|
$ |
75,374 |
|
$ |
— |
|
$ |
— |
|
$ |
75,374 |
Money market funds |
|
|
407,512 |
|
|
— |
|
|
— |
|
|
407,512 |
Total cash equivalents |
|
|
482,886 |
|
|
— |
|
|
— |
|
|
482,886 |
U.S. Treasury securities |
|
|
19,995 |
|
|
2 |
|
|
— |
|
|
19,997 |
Commercial paper |
|
|
43,911 |
|
|
— |
|
|
— |
|
|
43,911 |
Corporate bonds |
|
|
47,970 |
|
|
— |
|
|
(11) |
|
|
47,959 |
Total short-term investments |
|
|
111,876 |
|
|
2 |
|
|
(11) |
|
|
111,867 |
Total cash equivalents and short-term investments |
|
$ |
594,762 |
|
$ |
2 |
|
$ |
(11) |
|
$ |
594,753 |
In September 2021, the Company made a $20.0 million equity investment in Shapeways Holdings, Inc. (“Shapeways”). The Company records this investment at fair value. The Company recorded an unrealized loss due to the change in fair value of the Shapeways stock of $1.9 million during the three and nine months ended September 30, 2021, in interest and other (expense) income, net in the condensed consolidated statements of operations.
|