XML 42 R31.htm IDEA: XBRL DOCUMENT v3.24.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] The following tables summarize the Company's financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 (in thousands):
           

Fair Value Measurements

  
   

Carrying Amount as of

    

As of September 30, 2024

  
   

September 30, 2024

    

Level 1

    

Level 2

    

Level 3

  

Money market funds

   $ 2,000     $ 2,000     $ —     $ —  

Investments in employee deferred compensation trusts

     1,688       1,688       —       —  
           

Fair Value Measurements

  
   

Carrying Amount as of

    

As of December 31, 2023

  
   

December 31, 2023

    

Level 1

    

Level 2

    

Level 3

  

Money market funds

   $ 45,130     $ 45,130     $ —     $ —  

Investments in employee deferred compensation trusts

     41       41       —       —  

Preferred stock derivative liability

     29,947       —       —       29,947  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] The following tables provide 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):

Preferred stock derivative liability

  

2024

    

2023

  

Balance, January 1,

   $ 29,947     $ 21,918  

Change in fair value

     —       6,668  

Extinguishment through redemption of preferred stock

     (29,947 )     —  

Balance, September 30,

   $ —     $ 28,586  

 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] The following table provides quantitative information of liabilities measured at fair value and the significant unobservable inputs (Level 3), the range of the significant unobservable inputs, and the valuation techniques.
   

Fair Value

As of December 31, 2023

  

Valuation

Technique

  

Unobservable

Inputs

  

Range

(Weighted Average)

  
   

(In thousands)

              

Preferred Stock Derivative Liability

   $ 29,947  

Discounted Cash Flow

  

Change-in-control probability assumptions

  

Range: 0% to 100%

  
             

Timing of change-in-control assumptions

  

Range: 1 to 10 years

  
             

Discount Rate

  

Range: 8% to 10%

  
             

Market yield*

   6.3%*  

*Represents the hypothetical market yield