XML 41 R15.htm IDEA: XBRL DOCUMENT v3.20.1
Equity Method Investment
3 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investment Equity Method Investment
In conjunction with the execution of the Notch Agreement (see Note 6), the Company also entered into a Share Purchase Agreement (“Notch Investment Agreement”) with the Company acquiring shares of Notch’s Series Seed convertible preferred stock for a total investment cost of $5.1 million which includes transaction costs of $0.1 million, resulting in a 25% ownership interest in Notch.
The Company’s total equity investment in Notch as of March 31, 2020 and December 31, 2019 was $4.8 million and $4.9 million, respectively, and the Company accounted for the investment using the equity method of accounting. During the three months ended March 31, 2020, the Company recognized its share of Notch's net loss under the other expenses caption within the condensed statements of operations. The Company's share of Notch's net loss was $0.1 million for the three months ended March 31, 2020.