Fair Value Measurements (Tables)

9 Months Ended

Sep. 28, 2019

Fair Value Disclosures [Abstract]

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

As of September 28, 2019 and December 29, 2018, 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  September 28, 2019								As of December 29, 2018
	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	$	12,167	$	—	$	—	$	12,167	$	20,708	$	—	$	—	$	20,708
Liabilities:
Earn-out liability	$	—	$	—	$	63	$	63	$	—	$	—	$	334	$	334

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

The following tables present 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 September 28, 2019 and December 29, 2018.

As of  September 28, 2019	Fair Value (in thousands)		Valuation Technique	Significant Unobservable Input	Weighted Average (range)
Earn-out liability	$	63	Discounted cash flow	Projected royalties (in thousands)	$80
				Discount rate	10.26% (10.20% - 27.00%)
As of December 29, 2018	Fair Value (in thousands)		Valuation Technique	Significant Unobservable Input	Weighted Average (range)
Earn-out liability	$	334	Discounted cash flow	Projected royalties (in thousands)	$1,245
				Discount rate	10.33% (10.20% - 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 nine months ended September 28, 2019 and September 29, 2018 is as follows:

	Nine Months Ended
(in thousands)	September 28, 2019			September 29, 2018
Balance as of beginning of the period	$	334		$	572
Payments against earn-out		(318	)		(302	)
Change in fair value of earn-out liability		47			94
Balance as of the end of the period	$	63		$	364