XML 40 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Summary of Carrying Value of Debt
The following table presents the carrying value of the Company’s debt as of December 31, 2018 and 2017 (in thousands):
 
 
2018
 
2017
First term loan—18 months of interest-only payments ending in March 2019 followed by 36 equal monthly installments of principal plus interest, maturing March 2022; interest at Prime plus 0.25% per annum
 
$
15,000

 
$
15,000

Second term loan—11 months of interest-only payments ending in October 2018 followed by 47 equal monthly installments of principal plus interest, maturing September 2022. As of September 30, 2018, the Company achieved trailing six-month EBITDA of at least $1.0 million; as a result, the interest-only repayment period extended to March 2019, followed by 42 equal monthly installments of principal plus interest; bears interest at Prime plus 5.25% per annum. As a result of the Company's IPO, the interest rate was reduced to Prime plus 0.25% per annum
 
9,000

 
9,000

Line of credit—interest at Prime with accrued interest due monthly; matures September 2020
 
—

 
10,000

Total debt
 
24,000

 
34,000

Less: Unamortized debt discount issuance costs
 
(90
)
 
(167
)
Balance
 
23,910

 
33,833

Debt, current
 
(5,671
)
 
(10,342
)
Debt, noncurrent
 
$
18,239

 
$
23,491

Weighted-average interest rate
 
6.89
%
 
5.93
%
Schedule of Maturities of Long-term Debt
Future maturities of principal payments, excluding potential early payments, as of December 31, 2018, were expected to be as follows (in thousands):
Year Ended December 31,
 
Principal Payments
2019
 
$
5,679

2020
 
7,571

2021
 
7,571

2022
 
3,179

Total
 
$
24,000