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Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Schedule of Fair Value Measurements by Level for the Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes the Company’s fair value measurements by level at September 30, 2023:
Level 1 Level 2 Level 3
(in thousands)
Cash equivalents $19,024 $— $— 
Short-term investments18,063 — — 
Fair value, September 30, 2023
$37,087 $ $ 
The following table summarize the Company’s fair value measurements by level at December 31, 2022:
Level 1 Level 2 Level 3
(in thousands)
Cash equivalents $10,609 $— $— 
Fair value, December 31, 2022
$10,609 $ $ 
Schedule of Carrying Values and Estimated Fair Values of Debt The following is a summary of the carrying amount and estimated fair value of the $23,000,000 and $28,700,000 term loans that mature in September 2026 and July 2027, respectively (the "2026 Term Loan" and "2027 Term Loan," respectively):
September 30, 2023
Carrying AmountEstimated Fair Value
(in thousands)
2026 Term Loan$21,640 $19,496 
2027 Term Loan28,139 27,090 
$49,779 $46,586 
December 31, 2022
Carrying AmountEstimated Fair Value
(in thousands)
2026 Term Loan$22,079 $20,115 
2027 Term Loan20,436 18,918 
$42,515 $39,033