v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 24,294 $ 36,507
Restricted cash 6,000  
Investments 92,311  
Accounts receivable, net of allowance for doubtful accounts of $1,117 and $461, respectively 15,321 11,065
Inventory 11,982 7,316
Prepaid expenses and other 1,045 853
Total current assets 150,953 55,741
Property and equipment, net 8,039 2,197
Intangible assets 1,181 937
Total assets 160,173 58,875
Current liabilities:    
Borrowings under revolving loan agreement   4,000
Accounts payable and accrued expenses 12,998 8,952
Current maturities of long term obligations 28 735
Contract liabilities, current 18 32
Total current liabilities 13,044 13,719
Long Term Obligations, net of current maturities and deferred financing fees 35 19,810
Other long-term liabilities 70 95
Contract liabilities 42 69
Total liabilities 13,191 33,693
Commitments and contingencies - see Note 14
Shareholders' equity:    
Common stock, $0.01 par value per share; 100,000,000 shares authorized; 38,900,875 and 34,350,329 shares issued and outstanding 389 343
Additional paid-in capital 297,319 153,168
Accumulated deficit (150,726) (128,329)
Total shareholders' equity 146,982 25,182
Total liabilities and shareholders' equity $ 160,173 $ 58,875

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v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Consolidated Statements of Operations      
Revenues $ 83,937 $ 60,426 $ 41,108
Cost of goods sold 12,923 9,311 6,467
Gross profit 71,014 51,115 34,641
Costs and expenses:      
Sales and marketing 56,617 37,636 28,426
Research and development 11,773 6,699 4,212
General and administrative 23,124 14,731 10,133
Total costs and expenses 91,514 59,066 42,771
Loss from operations (20,500) (7,951) (8,130)
Other income (expense):      
Investment income 1,525    
Interest expense (1,127) (2,217) (5,386)
Interest expense — deferred financing costs (81) (246) (875)
Loss on extinguishment of debt (2,186)   (750)
Other expense (28) (31) (20)
Total other expense (1,897) (2,494) (6,281)
Net Loss $ (22,397) $ (10,445) $ (14,411)
Weighted average common shares outstanding — basic and diluted 37,127 33,323 30,702
Loss per common share — basic and diluted $ (0.60) $ (0.31) $ (0.47)

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v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net loss $ (22,397) $ (10,445) $ (14,411)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 774 488 362
Amortization of intangible assets 77 79 75
Amortization of deferred financing costs 81 246 125
Loss on disposal of equipment 1    
Loss on extinguishment of debt 2,186   750
Provision for bad debt 852 223 80
Provision for inventory write down 1,343 1,438 788
Changes in investment gains and losses (721)    
Share-based compensation 7,606 3,609 1,390
Interest added to note payable     1,924
Change in assets and liabilities:      
Accounts receivable (5,108) (3,236) (3,349)
Inventory (6,009) (3,295) (2,313)
Prepaid expenses and other (192) (342) (87)
Accounts payable and accrued expenses 3,711 1,927 3,411
Contract and other liabilities (66) 70 18
Net cash used in operating activities (17,862) (9,238) (11,237)
Cash flows from investing activities:      
Purchase of property and equipment (6,282) (1,105) (931)
Purchase of investments (114,736)    
Sale of investments 23,146    
Acquisition of intangible assets (321) (187) (226)
Net cash used for investing activities (98,193) (1,292) (1,157)
Cash flows from financing activities:      
Proceeds from issuance of common stock 132,964 15,891 18,767
Cash paid for equity offering (257) (228) (99)
Borrowing on revolving loan 26,253 57,599 6,685
Payments on revolving loan and prepayment penalties (30,489) (57,624) (6,685)
Repayments of long-term debt and prepayment penalties (22,513) (21) (2,446)
Debt issuance costs   (29) (801)
Proceeds from exercise of stock options 3,884 1,434 1,078
Net cash provided by financing activities 109,842 17,022 16,499
Net (decrease) increase in cash and cash equivalents (6,213) 6,492 4,105
Cash, cash equivalents, and restricted cash, beginning of year 36,507 30,015 25,910
Cash, cash equivalents and restricted cash, end of year 30,294 36,507 30,015
Supplemental disclosures of cash flow activity:      
Cash paid for interest 1,325 2,198 5,769
Supplemental disclosure of non-cash investing and financing activities:      
Payments of fixed assets in accounts payable and accrued expenses $ 335 55 32
Payments of long term debt with proceeds from term loan of $21,000 and revolver loan of $4,000     $ 25,000
Capital lease additions   $ 62  

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