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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Financial Instruments Measured at Fair Value on Recurring Basis
The following tables summarize the Company's financial liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands):
Carrying Amount as of June 30, 2020Fair Value Measurements
as of June 30, 2020
 Level 1Level 2Level 3
3.25% convertible senior notes due in 2023$42,257  $—  $—  $42,257  
Preferred stock derivative liability
3,164  —  —  3,164  
Carrying Amount as of December 31, 2019Fair Value Measurements
as of December 31, 2019
 Level 1Level 2Level 3
3.25% convertible senior notes due in 2023$50,753  $—  $—  $50,753  
Preferred stock derivative liability
5,247  —  —  5,247  
Reconciliation of Beginning and Ending Balances of Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)
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):
3.25% convertible senior notes due in 20232020
Balance, January 1, $50,753  
Conversion of convertible senior notes(9,473) 
Change in fair value52  
Payment-in-kind interest
925  
Balance, June 30, $42,257  

Preferred stock derivative liability
2020
Balance, January 1, $5,247  
Change in fair value(2,083) 
Balance, June 30,$3,164