Desktop Metal, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

6 Months Ended

Jun. 30, 2023

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

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):


	June 30, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Money market funds	$	66,332	$	—	$	—	$	66,332
Total cash equivalents		66,332		—		—		66,332
U.S. Treasury securities		4,995		—		(2)		4,993
Total short-term investments		4,995		—		(2)		4,993
Total cash equivalents and short-term investments	$	71,327	$	—	$	(2)	$	71,325


	December 31, 2022
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Money market funds	$	51,274	$	—	$	—	$	51,274
Total cash equivalents		51,274		—		—		51,274
Commercial paper		39,781		—		—		39,781
Corporate bonds		28,970		—		(156)		28,814
U.S. Treasury securities		19,896		—		(78)		19,818
Government bonds		14,846		—		(102)		14,744
Asset-backed securities		4,000		—		(2)		3,998
Total short-term investments		107,493		—		(338)		107,155
Total cash equivalents and short-term investments	$	158,767	$	—	$	(338)	$	158,429

During the year ended December 31, 2021, the Company made a $20.0 million investment in equity securities of a publicly-traded company. The Company records this investment at fair value within short-term investments, which was $0.9 million as of June 30, 2023. During the three and six months ended June 30, 2023, the Company recorded an unrealized gain of $0.3 million and an unrealized loss of $0.1 million, respectively, due to the change in fair value of the equity securities. During the three and six months ended June 30, 2022, the Company recorded unrealized losses of $3.4 million and $5.1 million, respectively, due to the change in fair value of equity securities, in interest and other (expense) income, net in the consolidated statements of operations.