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Fair Value Measurements | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Fair Value Disclosures [Text Block] | Note 16 — Fair Value Measurements The following tables summarize the Company’s financial liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020 (in thousands):
|  | Carrying Amount as of |  |  | Fair Value Measurements As of December 31, 2021 |
|  | December 31, 2021 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Preferred stock derivative liability |  | $ | 21,282 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,282 |
|  | Carrying Amount as of |  |  | Fair Value Measurements As of December 31, 2020 |
|  | December 31, 2020 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
3.25% convertible senior notes due in 2023 |  | $ | 34,134 |  |  | $ | — |  |  | $ | — |  |  | $ | 34,134 |
Preferred stock derivative liability |  |  | 8,062 |  |  |  | — |  |  |  | — |  |  |  | 8,062 |
The following table provides a reconciliation of the beginning and ending balances of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands):
3.25% convertible senior notes due 2023 |  |  |  |  |  |  |  |
|  | 2021 |  |  | 2020 |
Balance at January 1, |  | $ | 34,134 |  |  | $ | 50,753 |
Conversion of convertible senior notes |  |  | (50,760 | ) |  |  | (20,212 | )
Change in fair value |  |  | 16,419 |  |  |  | 2,265 |
PIK interest |  |  | 207 |  |  |  | 1,328 |
Balance at December 31, |  | $ | — |  |  | $ | 34,134 |
Preferred stock derivative liability |  |  |  |  |  |  |  |
|  | 2021 |  |  | 2020 |
Balance at January 1, |  | $ | 8,062 |  |  | $ | 5,247 |
Change in fair value |  |  | 13,220 |  |  |  | 2,815 |
Balance at December 31, |  | $ | 21,282 |  |  | $ | 8,062 |
The Company’s derivative liability is classified within Level 3 of the fair value hierarchy because unobservable inputs were used in estimating the fair value. The fair value of the redemption provision embedded in the Series A Preferred Stock is estimated based on a discounted cash flow model and probability assumptions based on management’s estimates of a change of control event occurring. In subsequent periods, the derivative liability is accounted for at fair value, with changes in fair value recognized as other income (expense) on the Company's consolidated statements of operations. The Company has elected the fair value option of measurement for the 3.25% 2023 Notes, under ASC 815, Derivatives and Hedging. As a result, these notes are re-measured each reporting period using Level 3 inputs (Monte Carlo simulation model and inputs for stock price, risk-free rate and volatility), with changes in fair value reflected in current period earnings in its consolidated statements of operations. The fair value of the Series A Preferred Stock derivative liability is calculated using unobservable inputs (Level 3 fair measurements). The value of the redemption provision explicitly considered the present value of the potential premium that would be paid related to, and the probability of, an event that would trigger its payment. The probability of a triggering event was based on management’s estimates of the probability of a change of control event occurring. The Company’s accounts receivable, accounts payable and accrued expenses represent financial instruments. The carrying value of these financial instruments is a reasonable approximation of fair value due to the short-term nature of the instruments.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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