Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 9 - Fair Value Measurements

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, accrued expenses, and other liabilities approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of borrowings under credit facilities approximates fair value because of the short-term nature and variable interest rates on these instruments approximates current market rates.

The Company estimates the fair value of the term loan based on a discounted cash flow method. The carrying value of the term loan was based on an accounting entry where proceeds from the loan were first allocated to the warrants liabilities. The following table presents the carrying amount and fair value of the Company’s term note and line of credit by hierarchy level:

	Fair Value		June 30, 2024				December 31, 2023
	Hierarchy		Carrying Amount		Fair Value		Carrying Amount		Fair Value
Term loan	Level 3	(1)	$	—	$	—	$	2,881	$	3,314

(1) the fair value estimates are based on unobservable inputs reflecting management’s assumptions about inputs used in pricing the asset or liability