Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The Company’s liabilities measured at fair value on a recurring basis and the fair value hierarchy utilized to determine such fair values is as follows at December 31, 2020 and 2019 (in thousands):

			Fair Value Measurements Using
	Total Fair Value at December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Warrant liability - Hale	$	2,245	$	—	$	—	$	2,245
Warrant liability - iStudy	665		—		—		665
Warrant liability	$	2,910	$	—	$	—	$	2,910
Derivative liability	$	37	$	—	$	—	$	37
Total	$	2,947	$	—	$	—	$	2,947

			Fair Value Measurements Using
	Total Fair Value at December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative warrant liability - ESW warrant	$	2,149	$	—	$	—	$	2,149
Derivative warrant liability - Hale warrant	645		—		—		645
Derivative warrant liability - iStudy	145		—		—		145
Derivative warrant liability	$	2,939	$	—	$	—	$	2,939

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table represents the significant unobservable input used in the fair value measurement of Level 3 warrant liability instruments:

	December 31, 2020
Probability-weighted timing of change in control	4.9 years

Fair Value Measurements, Recurring and Nonrecurring

The following table summarizes the changes in fair value measurements for the year ended December 31, 2020:

	Warrant liability		Derivative liability		Total
Balance at December 31, 2019	$	2,939	$	—	$	2,939
Cancellation of ESW warrant liability (Note 4)	(1,855)		—		(1,855)
Issuance of derivative liability upon cancellation of ESW warrant	—		140		140
Change in fair value	1,826		(103)		1,723
Balance at December 31, 2020	$	2,910	$	37	$	2,947

Schedule of Stockholders' Equity Note, Warrants or Rights

As of December 31, 2020 and 2019, the following warrants for the purchase of Qumu's common stock were outstanding and exercisable:

	Number of underlying warrant shares		Warrant exercise price (per share)
	December 31,				Warrant expiration date
Description	2020	2019
Warrant issued in conjunction with October 2016 debt financing ("Hale warrant")	314,286	314,286	$	2.80	October 21, 2026
Warrant issued in conjunction with January 2018 debt financing ("ESW warrant")	—	925,000	$	1.96	January 12, 2028
Warrant issued to sales partner, iStudy Co., Ltd. ("iStudy warrant")	100,000	100,000	$	2.43	August 31, 2028
Total warrants outstanding	414,286	1,339,286