| Summary of Investments Fair Value Measurement on Recurring Basis |
The following tables present the Company’s investments, which consist of cash equivalents and available-for-sale marketable securities, that are measured at fair value on a recurring basis as of August 31, 2022 and November 30, 2021 (in thousands):
|
August 31, 2022 |
|
Level |
|
Amortized
cost |
|
|
Unrealized
gain |
|
|
Unrealized
loss |
|
|
Estimated
fair value |
|
|
Money market funds |
|
Level 1 |
|
$ |
44,738 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
44,738 |
|
|
U.S. treasury securities |
|
Level 1 |
|
|
90,301 |
|
|
|
— |
|
|
|
(1,067 |
) |
|
|
89,234 |
|
|
Corporate debt securities |
|
Level 2 |
|
|
87,289 |
|
|
|
— |
|
|
|
(1,081 |
) |
|
|
86,208 |
|
|
U.S. government agency securities |
|
Level 2 |
|
|
19,497 |
|
|
|
— |
|
|
|
(171 |
) |
|
|
19,326 |
|
|
Corporate commercial paper |
|
Level 2 |
|
|
85,539 |
|
|
|
— |
|
|
|
— |
|
|
|
85,539 |
|
|
Foreign government securities |
|
Level 2 |
|
|
12,103 |
|
|
|
— |
|
|
|
(137 |
) |
|
|
11,966 |
|
|
Municipal securities |
|
Level 2 |
|
|
4,655 |
|
|
|
— |
|
|
|
(6 |
) |
|
|
4,649 |
|
|
Long-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
Level 1 |
|
|
5,734 |
|
|
|
— |
|
|
|
(16 |
) |
|
|
5,718 |
|
|
Corporate debt securities |
|
Level 2 |
|
|
14,854 |
|
|
|
— |
|
|
|
(553 |
) |
|
|
14,301 |
|
|
U.S. government agency securities |
|
Level 2 |
|
|
49,816 |
|
|
|
4 |
|
|
|
(714 |
) |
|
|
49,106 |
|
|
Total |
|
|
|
$ |
414,526 |
|
|
$ |
4 |
|
|
$ |
(3,745 |
) |
|
$ |
410,785 |
|
|
Included in Cash and cash equivalents |
|
|
|
$ |
44,738 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
44,738 |
|
|
Included in Short-term marketable securities |
|
|
|
$ |
299,384 |
|
|
$ |
— |
|
|
$ |
(2,462 |
) |
|
$ |
296,922 |
|
|
Included in Long-term marketable securities |
|
|
|
$ |
70,404 |
|
|
$ |
4 |
|
|
$ |
(1,283 |
) |
|
$ |
69,125 |
|
|
November 30, 2021 |
|
Level |
|
Amortized
cost |
|
|
Unrealized
gain |
|
|
Unrealized
loss |
|
|
Estimated
fair value |
|
|
Money market funds |
|
Level 1 |
|
$ |
73,438 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
73,438 |
|
|
U.S. treasury securities |
|
Level 1 |
|
|
20,608 |
|
|
|
— |
|
|
|
(9 |
) |
|
|
20,599 |
|
|
Corporate debt securities |
|
Level 2 |
|
|
46,599 |
|
|
|
1 |
|
|
|
(54 |
) |
|
|
46,546 |
|
|
U.S. government agency securities |
|
Level 2 |
|
|
16,496 |
|
|
|
1 |
|
|
|
(14 |
) |
|
|
16,483 |
|
|
Corporate commercial paper |
|
Level 2 |
|
|
121,495 |
|
|
|
— |
|
|
|
— |
|
|
|
121,495 |
|
|
Municipal securities |
|
Level 2 |
|
|
10,082 |
|
|
|
9 |
|
|
|
— |
|
|
|
10,091 |
|
|
Long-term marketable securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasury securities |
|
Level 1 |
|
|
39,932 |
|
|
|
— |
|
|
|
(85 |
) |
|
|
39,847 |
|
|
Corporate debt securities |
|
Level 2 |
|
|
74,334 |
|
|
|
— |
|
|
|
(365 |
) |
|
|
73,969 |
|
|
U.S. government agency securities |
|
Level 2 |
|
|
16,236 |
|
|
|
— |
|
|
|
(67 |
) |
|
|
16,169 |
|
|
Municipal securities |
|
Level 2 |
|
|
7,229 |
|
|
|
— |
|
|
|
(25 |
) |
|
|
7,204 |
|
|
Total |
|
|
|
$ |
426,449 |
|
|
$ |
11 |
|
|
$ |
(619 |
) |
|
$ |
425,841 |
|
|
Included in Cash and cash equivalents |
|
|
|
$ |
73,438 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
73,438 |
|
|
Included in Short-term marketable securities |
|
|
|
$ |
215,280 |
|
|
$ |
11 |
|
|
$ |
(77 |
) |
|
$ |
215,214 |
|
|
Included in Long-term marketable securities |
|
|
|
$ |
137,731 |
|
|
$ |
— |
|
|
$ |
(542 |
) |
|
$ |
137,189 |
|
|