Debt

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Debt

Debt

There were no amounts outstanding under our $25.0 million revolving credit facility (“Credit Facility”) with Silicon Valley Bank in the three months ended March 31, 2020 or in 2019. Our borrowing capacity at March 31, 2020 was reduced by $2.5 million related to a standby letter of credit for the security deposit on our new headquarters lease.

In April 2020, the maturity date of the Credit Facility was extended by 60 days until July 3, 2020. Additionally, the Credit Facility was amended to increase the maximum amount of letters of credit that may be issued from $5.0 million to $6.5 million.