Fair Value Measurements (Tables)

9 Months Ended

Nov. 02, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

Fair value of the Non-Convertible Term Loan, the Convertible Term Loan and the Collaboration Agreement fees, which were entered into on October 21, 2024, are determined on a non-recurring basis, which results are summarized as follows (in thousands):

		November 2, 2024
	Fair Value Hierarchy	Carrying Value (1)		Fair Value
Non-Convertible Term Loan (2)	Level 2	$	5,401	$	6,393
Convertible Term Loan (2)	Level 2		6,586		7,753
Collaboration Agreement fees (3)	Level 3		3,806		4,450

(1)See “Note 9 — Long-Term Debt” for further discussion of the carrying values.

(2)The fair value was estimated using available market information for debt instruments with similar maturities and credit risk.

(3)The fair value estimate uses the Company’s estimated future revenue projections over the term of the Collaboration Agreement discounted using current market rates for debt investments with similar maturities and credit risk.