Fair Value Measurements (Tables)

3 Months Ended

Apr. 01, 2017

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured and Recognized at Fair Value on a Recurring Basis

As of April 1, 2017 and December 31, 2016, financial assets and liabilities measured and recognized at fair value on a recurring basis and classified under the appropriate level of the fair value hierarchy as described above were as follows:

	As of  April 1, 2017								As of December 31, 2016
	Fair Value Measurements								Fair Value Measurements
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	23,290	$	—	$	—	$	23,290	$	8,270	$	—	$	—	$	8,270
Liabilities:
Earn-out liability	$	—	$	—	$	634	$	634	$	—	$	—	$	694	$	694

Quantitative Information about the Inputs and Valuation Methodologies Used for Fair Value Measurements

The following table presents quantitative information about the inputs and valuation methodologies used for our fair value measurements classified in Level 3 of the fair value hierarchy as of April 1, 2017.

As of  April 1, 2017	Fair Value (in thousands)		Valuation Technique	Significant Unobservable Input	Weighted Average (range)
Earn-out liability	$	634	Discounted cash flow	Projected royalties (in thousands)	$2,067
				Discount rate	11.19% (11.19% - 27.00%)
As of December 31, 2016	Fair Value (in thousands)		Valuation Technique	Significant Unobservable Input	Weighted Average (range)
Earn-out liability	$	694	Discounted cash flow	Projected royalties (in thousands)	$2,154
				Discount rate	11.22% (11.22% - 27.00%)

Reconciliation of the Changes in the Company's Earn-Out - Cash (Level 3 Liabilities) Balance

A reconciliation of the changes in the Company’s earn-out liability (Level 3 liability) for the three months ended April 1, 2017 and April 2, 2016 is as follows:

	Three Months Ended
(in thousands)	April 1, 2017			April 2, 2016
Balance as of beginning of the period	$	693		$	1,005
Payments against earn-out		(84	)		(96	)
Change in fair value of earn-out liability		25			11
Balance as of the end of the period	$	634		$	920