Orchid newbie! Is this a terminal orchid spike?

[courtneyrgs94]

Hello,

I am fairly new to orchid care. I have had an orchid for well over a year now. When I purchased it, it was flowering but it died off eventually and appeared to die completely. I kept at it and eventually it was back to green and growing new leaves.

It hasn't flowered once since, but it has been growing what looks like a new spike between the bottom and middle layer of leaves. Can anyone please tell me if this is a terminal spike, and is so, what do I do?

Thank you