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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Financial Assets and Liabilities Measured on Recurring Basis

The following table sets forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy:

 

     December 31, 2016  
     Level 1      Level 2      Level 3      Total  
     (in thousands)  

Financial Assets

  

Money market funds

   $ 107,043      $ —        $ —        $ 107,043  

Restricted money market funds

     200        —          —          200  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total financial assets

   $ 107,243      $ —        $ —        $ 107,243  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     December 31, 2015  
     Level 1      Level 2      Level 3      Total  
     (in thousands)  

Financial Assets

  

Money market funds

   $ 148,604      $ —        $ —        $ 148,604  

Restricted money market funds

     225        —          —          225  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total financial assets

   $ 148,829      $ —        $ —        $ 148,829  
  

 

 

    

 

 

    

 

 

    

 

 

 
Summary of the Changes in the Estimated Fair Value of the Company's Preferred Stock Warrant Liabilities

The following table provides a summary of the changes in the estimated fair value of the Company’s preferred stock warrant liabilities, which were measured at fair value on a recurring basis using unobservable inputs (Level 3) until their exercise in 2015 (in thousands):

 

     December 31,
2015
 
     (in thousands)  

Fair value, beginning balance

   $ 1,810  

Fair value of preferred stock warrants exercised

     (19,253

Change in fair value of preferred stock warrants

     17,443  
  

 

 

 

Fair value, ending balance

   $ —