Warrants	3 Months Ended
Mar. 31, 2018
Warrants
Warrants	8. Warrants Guarantor and Co-Guarantor Warrants In connection with entering into a credit agreement (see Note 7), the Company issued warrants to purchase common shares to two of the Company’s directors in connection with a guarantee of its obligations under the agreement (see Note 7). The Company previously classified the warrants as a liability on its consolidated balance sheet because each warrant represented a freestanding financial instrument that was not indexed to the Company’s own shares. The warrant liability was initially recorded at fair value upon entering into the credit agreement and was subsequently remeasured to fair value at each reporting date. Changes in the fair value of the warrant liability was recognized as a component of other income (expense), net in the consolidated statement of operations and comprehensive loss. On January 26, 2018, the anti-dilution price protection provisions contained within the warrants issued to each of the guarantor and co-guarantor of the Credit Agreement (see Note 7) expired. Both the guarantor and co-guarantor are members of the Company’s Board of Directors. Changes in the fair value of the warrant liability, until expiration of the anti-dilution price protection provisions, are recognized as a component of other income (expense), net in the Company’s consolidated statement of operations and comprehensive loss. Upon expiration of the provision, the Company discontinued classification of these warrants as a liability, and has accordingly reclassified the fair value of $5,203 to Additional Paid-In Capital within Shareholders’ Equity. The fair value of the warrant liability was $4,021 at December 31, 2017. The Company recorded expense of $1,182 and income of $454 within other income (expense), net in the consolidated statements of operations for the three months ended March 31, 2018 and 2017, respectively.

8. Warrants

Guarantor and Co-Guarantor Warrants

In connection with entering into a credit agreement (see Note 7), the Company issued warrants to purchase common shares to two of the Company’s directors in connection with a guarantee of its obligations under the agreement (see Note 7). The Company previously classified the warrants as a liability on its consolidated balance sheet because each warrant represented a freestanding financial instrument that was not indexed to the Company’s own shares. The warrant liability was initially recorded at fair value upon entering into the credit agreement and was subsequently remeasured to fair value at each reporting date. Changes in the fair value of the warrant liability was recognized as a component of other income (expense), net in the consolidated statement of operations and comprehensive loss.

On January 26, 2018, the anti-dilution price protection provisions contained within the warrants issued to each of the guarantor and co-guarantor of the Credit Agreement (see Note 7) expired. Both the guarantor and co-guarantor are members of the Company’s Board of Directors.

Changes in the fair value of the warrant liability, until expiration of the anti-dilution price protection provisions, are recognized as a component of other income (expense), net in the Company’s consolidated statement of operations and comprehensive loss. Upon expiration of the provision, the Company discontinued classification of these warrants as a liability, and has accordingly reclassified the fair value of $5,203 to Additional Paid-In Capital within Shareholders’ Equity.

The fair value of the warrant liability was $4,021 at December 31, 2017. The Company recorded expense of $1,182 and income of $454 within other income (expense), net in the consolidated statements of operations for the three months ended March 31, 2018 and 2017, respectively.