Fair Value Measurements - (Notes)

12 Months Ended

Dec. 31, 2019

The following table sets forth the Company's financial instruments that were measured at fair value on a recurring basis within the fair value hierarchy (in thousands):


	December 31, 2019
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	70,760	$	70,760	$	—	$	—


	December 31, 2018
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	8,618	$	8,618	$	—	$	—
Liabilities:
Redeemable convertible preferred stock warrant liabilities	$	1,503	$	—	$	—	$	1,503

The fair value of the Company's money market funds is based on quoted market prices.

The following table includes a roll-forward of the financial instruments measured on a recurring basis and classified within Level 3 of the fair value hierarchy (in thousands):


	Liability Classified Warrants
Balances at December 31, 2017	$	896
Issuance of warrants to purchase shares of Series F redeemable convertible preferred stock in connection with 2017 Term Loan (Note 4)	289
Remeasurement of financial instruments	318
Balances at December 31, 2018	1,503
Remeasurement of financial instruments	(267)
Net exercise of preferred stock warrants	(510)
Reclassification of liability classified warrants to stockholders' equity (deficit)	(726)
Balance at December 31, 2019	$	—

Changes in the fair value of the Company's liability classified warrants are recorded in the line item change in fair value of financial instruments in the accompanying statement of operations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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