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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2018
Financial Assets Measured at Fair Value on Recurring Basis
The following table summarizes our financial assets measured at fair value on a recurring basis as of March 31, 2018 (in thousands):
 
 
   
 
Fair Value Measurements
 
 
 
Carrying Amount as of
 
 
As of March 31, 2018
 
 
 
March 31, 2018
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
                       
Cash equivalents
 
$
8,169
   
$
8,169
   
$
   
$
 
3.25% Convertible senior notes due in 2020
   
23,490
     
     
     
23,490
 

 
 
   
 
Fair Value Measurements
 
 
 
Carrying Amount as of
 
 
As of December 31, 2017
 
 
 
December 31, 2017
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
                       
Cash equivalents
 
$
13,718
   
$
13,718
   
$
   
$
 
3.25% Convertible senior notes due in 2020
   
22,469
     
     
     
22,469
 
Reconciliation of Beginning and Ending Balances of Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)
The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands):

 
 
2018
 
Balance at January 1, 2018
 
$
22,469
 
Change in fair value
   
1,021
 
Balance at March 31, 2018
 
$
23,490