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Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2022

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, customer deposits and sales return liability are reasonable estimates of their fair value because of the short maturity of these items. The fair value of the contingent consideration is discussed in Note 5. The fair value of the long-term debt is based on the amount of future cash flows associated with the instrument discounted using the Company’s market rate. As of June 30, 2022, the carrying value of the long-term debt was not materially different from the fair value. As of June 30, 2022, the carrying value and fair value of the convertible note were as follows (in thousands):


	June 30,		December 31,
	2022		2021
Carrying value	$	49,110	$	47,477
Fair value	$	44,228	$	42,029