v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 24,878 $ 24,294
Restricted cash 6,000 6,000
Investments 78,185 92,311
Accounts receivable, net of allowance for doubtful accounts of $959 and $1,117, respectively 16,285 15,321
Inventory 13,587 11,982
Prepaid expenses and other 2,357 1,045
Total current assets 141,292 150,953
Property and equipment, net 9,757 8,039
Operating lease right-of-use assets 4,051  
Finance lease right-of-use assets 99  
Intangible assets 1,404 1,181
Total assets 156,603 160,173
Current liabilities:    
Accounts payable and accrued expenses 14,382 12,998
Current maturities of long term obligations 1,832 28
Contract liabilities, current 19 18
Total current liabilities 16,233 13,044
Long Term Obligations, net of current maturities 2,381 35
Other long-term liabilities   70
Contract liabilities 29 42
Total liabilities 18,643 13,191
Commitments and contingencies - see Note 12
Shareholders' equity:    
Common stock, $0.01 par value per share; 100,000,000 shares authorized; 39,252,294 and 38,900,875 shares issued and outstanding 393 389
Additional paid-in capital 304,819 297,319
Accumulated deficit (167,252) (150,726)
Total shareholders' equity 137,960 146,982
Total liabilities and shareholders' equity $ 156,603 $ 160,173

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v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Condensed Consolidated Statements of Operations        
Revenues $ 26,701 $ 20,584 $ 49,986 $ 37,844
Cost of goods sold 4,244 3,106 7,958 5,818
Gross profit 22,457 17,478 42,028 32,026
Costs and expenses:        
Sales and marketing 18,467 14,026 34,901 26,495
Research and development 4,282 2,601 8,421 4,660
General and administrative 7,380 5,669 16,581 10,681
Total costs and expenses 30,129 22,296 59,903 41,836
Loss from operations (7,672) (4,818) (17,875) (9,810)
Other income (expense):        
Investment income 654 156 1,370 157
Interest expense (11) (544) (25) (1,130)
Interest expense - deferred financing costs   (21)   (81)
Loss on extinguishment of debt   (2,186)   (2,186)
Other expense 6 (15) 4 (16)
Total other income (expense), net 649 (2,610) 1,349 (3,256)
Net Loss $ (7,023) $ (7,428) $ (16,526) $ (13,066)
Weighted average common shares outstanding - basic and diluted 39,174,712 36,677,074 39,055,013 35,605,054
Loss per common share - basic and diluted $ (0.18) $ (0.20) $ (0.42) $ (0.37)

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v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (16,526) $ (13,066)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 439 375
Amortization of right-of-use assets 891  
Amortization of intangible assets 56 40
Amortization of deferred financing costs   81
Loss on extinguishment of debt   2,186
Provision for bad debt (159) 130
Provision for inventory writedown (95) 582
Changes in investment gains and losses (602)  
Share-based compensation 4,989 3,770
Change in operating assets and liabilities:    
Accounts receivable (805) (1,424)
Inventory (1,510) (2,948)
Prepaid expenses and other (1,312) (454)
Accounts payable and accrued expenses 816 839
Operating lease obligations (846)  
Cash paid for interest portion of finance leases (2)  
Contract and other liabilities (12) (31)
Net cash used in operating activities (14,678) (9,920)
Cash flows from investing activities:    
Purchase of property and equipment (1,685) (654)
Proceeds from sale of investments 98,871  
Purchase of investments (84,142)  
Cash payments for intangible assets (280) (260)
Net cash provided by / (used for) investing activities 12,764 (914)
Cash flows from financing activities:    
Proceeds from issuance of common stock   132,963
Cash paid for equity offering   (257)
Borrowing on revolving loan   26,253
Payments on revolving loan and prepayment penalties   (30,489)
Repayments of long-term debt and prepayment penalties   (22,492)
Cash paid for debt portion of finance leases (17)  
Proceeds from exercise of stock options 2,515 1,911
Net cash provided by financing activities 2,498 107,889
Net increase in cash, cash equivalents, and restricted cash 584 97,055
Cash, cash equivalents, and restricted cash, beginning of period 30,294 36,507
Cash, cash equivalents and restricted cash, end of period 30,878 133,562
Supplemental disclosures of cash flow activity:    
Cash paid for interest 25 $ 1,328
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of fixed assets in accounts payable and accrued expenses 567  
Right-of-use asset and operating lease liability $ 26  

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