Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2016 | Feb. 03, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | DETERMINE, INC. | |
Entity Central Index Key | 1,090,908 | |
Trading Symbol | dtrm | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 11,864,812 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 9,387 | $ 9,418 |
Accounts receivable, net of allowance for doubtful accounts of $196 and $407 as of December 31, 2016 and March 31, 2016, respectively | 6,759 | 7,031 |
Restricted cash | 34 | 34 |
Prepaid expenses and other current assets | 1,408 | 1,551 |
Total current assets | 17,588 | 18,034 |
Property and equipment, net | 94 | 136 |
Capitalized software development costs, net | 2,131 | 1,699 |
Goodwill | 14,346 | 14,490 |
Other intangibles, net | 6,346 | 8,011 |
Other assets | 1,492 | 1,843 |
Total assets | 41,997 | 44,213 |
LIABILITIES AND EQUITY | ||
Credit facility | 10,861 | 9,000 |
Accounts payable | 2,435 | 1,973 |
Accrued payroll and related liabilities | 1,802 | 1,655 |
Other accrued liabilities | 2,020 | 2,396 |
Deferred revenue | 10,028 | 10,299 |
Income tax payable | 78 | 14 |
COFACE loan | 222 | 407 |
Accrued restructuring | 403 | |
Total current liabilities | 27,446 | 26,147 |
Long-term deferred revenue | 5 | 67 |
Convertible note, net of debt discount | 7,374 | 5,420 |
Other long-term liabilities | 1,055 | 1,382 |
Deferred tax liability, non-current | 81 | 290 |
Total liabilities | 35,961 | 33,306 |
Commitments and contingencies (Notes 11 and 12): | ||
Common stock, $0.0001 par value: Authorized: 35,000 shares at December 31, 2016 and March 31, 2016; Issued: 11,944 and 11,387 shares at December 31, 2016 and March 31, 2016, respectively; Outstanding: 11,848 and 11,291 shares at December 31, 2016 and March 31, 2016, respectively | 5 | 5 |
Additional paid-in capital | 316,541 | 313,674 |
Treasury stock at cost - 96 shares at December 31, 2016 and March 31, 2016 | (472) | (472) |
Accumulated deficit | (310,040) | (302,297) |
Accumulated other comprehensive loss | (147) | (116) |
Total Determine, Inc. stockholders' equity | 5,887 | 10,794 |
Non-controlling interest | 149 | 113 |
Total equity | 6,036 | 10,907 |
Total liabilities and equity | $ 41,997 | $ 44,213 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Accounts receivable, allowance for doubtful accounts | $ 196 | $ 407 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 35,000 | 35,000 |
Common stock, shares issued (in shares) | 11,944 | 11,387 |
Common stock, shares outstanding (in shares) | 11,848 | 11,291 |
Treasury stock, shares (in shares) | 96 | 96 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues: | ||||
Revenues | $ 6,852 | $ 7,100 | $ 19,928 | $ 20,080 |
Cost of revenues: | ||||
Cost of revenues | 3,511 | 3,418 | 10,063 | 9,586 |
Gross profit (loss): | ||||
Gross profit | 3,341 | 3,682 | 9,865 | 10,494 |
Operating expenses: | ||||
Research and development | 1,049 | 1,230 | 3,052 | 2,711 |
Sales and marketing | 2,273 | 3,310 | 7,843 | 10,191 |
General and administrative | 1,761 | 1,934 | 5,432 | 5,561 |
Acquisition related costs | 138 | 912 | ||
Total operating expenses | 5,083 | 6,612 | 16,327 | 19,375 |
Loss from operations | (1,742) | (2,930) | (6,462) | (8,881) |
Other expense, net | (462) | (149) | (1,388) | (549) |
Net loss before income tax | (2,204) | (3,079) | (7,850) | (9,430) |
Benefit from income taxes | 35 | 233 | 143 | 213 |
Consolidated net loss | (2,169) | (2,846) | (7,707) | (9,217) |
Net loss (income) attributable to non-controlling interest | (24) | 1 | (36) | 5 |
Net loss attributable to Determine, Inc. | (2,193) | (2,845) | (7,743) | (9,212) |
Redeemable preferred stock accretion | 1,000 | |||
Net loss attributable to common stockholders | $ (2,193) | $ (2,845) | $ (7,743) | $ (10,212) |
Basic and diluted net loss per share (Note 9) (in dollars per share) | $ (0.18) | $ (0.25) | $ (0.67) | $ (0.90) |
Weighted-average shares of common stock used in computing basic and diluted net loss per share attributable to common stockholders (in shares) | 11,944 | 11,244 | 11,466 | 10,212 |
Statements of comprehensive loss: | ||||
Consolidated net loss | $ (2,169) | $ (2,846) | $ (7,707) | $ (9,217) |
Foreign currency translation adjustments, net | (18) | (11) | (31) | (68) |
Comprehensive loss | (2,187) | (2,857) | (7,738) | (9,285) |
Less: Net loss (income) attributable to non-controlling interest | (24) | 1 | (36) | 5 |
Comprehensive loss attributable to Determine, Inc. | (2,211) | (2,856) | (7,774) | (9,280) |
Fair Value, Measurements, Recurring [Member] | ||||
Revenues: | ||||
Revenues | 5,054 | 5,354 | 15,267 | 15,862 |
Cost of revenues: | ||||
Cost of revenues | 1,777 | 1,816 | 5,085 | 5,003 |
Gross profit (loss): | ||||
Gross profit | 3,277 | 3,538 | 10,182 | 10,859 |
Fair Value, Measurements, Nonrecurring [Member] | ||||
Revenues: | ||||
Revenues | 1,798 | 1,746 | 4,661 | 4,218 |
Cost of revenues: | ||||
Cost of revenues | 1,734 | 1,602 | 4,978 | 4,583 |
Gross profit (loss): | ||||
Gross profit | $ 64 | $ 144 | $ (317) | $ (365) |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities | ||
Net loss | $ (7,707) | $ (9,217) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 2,478 | 1,868 |
Loss on disposition of property and equipment | 14 | |
Stock-based compensation expense | 1,867 | 1,870 |
Deferred tax liability | (209) | 93 |
Changes in assets and liabilities: | ||
Accounts receivable, net | 272 | 149 |
Prepaid expenses and other current assets | 143 | 300 |
Other assets | 435 | (380) |
Accounts payable | 462 | 113 |
Accrued payroll and related liabilities | 147 | 278 |
Accrued restructuring costs | (403) | |
Other accrued liabilities and other long-term liabilities | (356) | (13) |
Deferred revenue | (333) | (281) |
Net cash used in operating activities | (3,204) | (5,206) |
Investing activities | ||
Purchase of property and equipment | (39) | (6) |
Capitalized software | (1,267) | (1,077) |
Purchase of business acquired, net of cash | (826) | |
Minority stock payment | (133) | |
Net cash used in investing activities | (1,306) | (2,042) |
Financing activities | ||
Proceeds from sale of common stock, preferred stock and warrants, net of issuance costs | 310 | |
Employee taxes in exchange for restricted stock awards forfeited | 78 | 263 |
Issuance of common stock under employee stock plan | 80 | 87 |
Credit facility borrowing | 3,000 | 885 |
Credit facility payment | (1,139) | (347) |
Repayment of a loan | (185) | (25) |
Conversion of preferred stock to common stock | (17) | |
Issuance of debt, net of costs | 2,429 | 2,743 |
Net cash provided by financing activities | 4,263 | 3,899 |
Effect of exchange rate changes on cash | 216 | 11 |
Net decrease in cash and cash equivalents | (31) | (3,338) |
Cash and cash equivalents at beginning of the period | 9,418 | 13,178 |
Cash and cash equivalents at end of the period | 9,387 | 9,840 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 161 | 241 |
Cash paid for taxes | 39 | 25 |
Beneficial conversion feature for convertible redeemable preferred stock | 371 | |
Redeemable preferred stock accretion | 1,000 | |
Conversion of redeemable preferred stock to common stock | 5,895 | |
Assumption of debt in connection with business combination | 587 | |
Gain (loss) from convertible note extinguishment | 166 | |
Issuance of Shares in Business Combination [Member] | ||
Supplemental disclosure of cash flow information: | ||
Stock issued | 7,954 | |
Stock Issued in Connection with Interest on Convertible Note [Member] | ||
Supplemental disclosure of cash flow information: | ||
Stock issued | 277 | |
Stock Issued in Connection with Interest on Loan Guaranty [Member] | ||
Supplemental disclosure of cash flow information: | ||
Stock issued | 524 | |
Issuance of Common Stock for a Legal Settlement [Member] | ||
Supplemental disclosure of cash flow information: | ||
Stock issued | $ 35 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 1. Basis of Presentation The condensed consolidated balance sheet as of December 31, 2016, three nine December 31, 2016 2015 nine December 31, 2016 2015 December 31, 2016, three nine December 31, 2016 2015 nine December 31, 2016 2015, March 31, 2016 Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10 March 31, 2016. On October 15, 2015, October 19, 2015. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies There have been no significant changes to the Company’s accounting policies since it filed its audited consolidated financial statements in its Annual Report on Form 10 March 31, 2016. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. It also includes non-controlling interest, which is the portion of equity in a subsidiary not attributable to a parent. The non-controlling interest of the Company and its subsidiaries are not considered to be permanent equity. Non-controlling interest’s share of subsidiary earnings is reflected as net loss (income) attributable to non-controlling interest in the condensed consolidated statements of operations and comprehensive loss. Additionally, certain prior period amounts have been reclassified to conform to the current year presentation on the condensed consolidated financial statements. The reclassification of the prior period amounts were not material to the previously reported condensed consolidated financial statements. Liquidity The Company has incurred significant historical losses and negative cash flows from operations and has an accumulated deficit of $310 December 31, 2016. twelve may may Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates these estimates, including, but not limited to, those related to the accounts receivable and allowance for doubtful accounts, fair values of financial instruments, intangible assets and goodwill, useful lives of intangible assets and property and equipment, fair values of stock-based awards, best estimate of selling price and income taxes. Actual results could differ from those estimates. Revenue Recognition The Company generates revenues by providing its software-as-a-service solutions through subscription license arrangements and related professional services, and related software maintenance. The Company presents revenue net of sales taxes and any similar assessments. Revenue recognition criteria (1) (2) (3) (4) one four Multiple-Deliverable Arrangements. Upon separating the multiple-deliverables into separate units of accounting, the arrangement consideration is allocated to the identified separate units based on a relative selling price hierarchy. The Company determines the relative selling price for a deliverable based on the vendor-specific objective evidence of the selling price (“VSOE”), if available, or its best estimate of the selling price (“BESP”), if VSOE is not available. The Company has determined that third third For professional services and subscription services, the Company has not established VSOE due to lack of pricing consistency and other factors. Accordingly, the Company uses its BESP to determine the relative selling price. The Company determined BESP by considering its price list, as well as overall pricing objectives and market conditions. Significant pricing practices taken into consideration include the Company’s discounting practices, contract prices per user, the size and volume of the Company’s transactions, the customer demographic and its market strategy. Recurring revenues. Non-recurring revenues. Reimbursements, including those related to travel and out-of-pocket expenses are included in non-recurring revenues, and an equivalent amount of reimbursable expenses are included in non-recurring cost of revenues. Customer Concentrations Historically, a limited number of customers have accounted for a substantial portion of the Company’s revenues. However, during the three nine December 31, 2016 2015, 10% Geographic Information International revenues are attributable to countries based on the location of the customer. For the three nine December 31, 2016 2015, Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 International revenues 27 % 15 % 27 % 18 % Domestic revenues 73 % 85 % 73 % 82 % Total revenues 100 % 100 % 100 % 100 % Recent Accounting Pronouncements In November 2016, No. 2016 18, Statement of Cash Flows (Topic 230): April 1, 2018 2016 18 In October 2016, 2016 16, Accounting for Income Taxes (Topic 740): 740 April 1, 2018 In August 2016, 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (Topic 230), eight December 15, 2017, 2016 15 In March 2016, 2016 09, Compensation -Stock Compensation (Topic 718): April 1, 2017 In April 2015, 2015 05, Intangibles−Goodwill and Other−Internal-use Software (Subtopic 350 40): December 15, 2015 In April 2015, 2015 03, Interest—Imputation of Interest (Subtopic 835 30): 2015 03”). December 15, 2015. 2015 03 April 1, 2016. August 2015, 2015 15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. 2015 15 2015 03 In February 2015, 2015 02, Consolidation (Subtopic 810) December 15, 2015 In May 2014, 2014 09, Revenue from Contracts with Customers: Topic 606 August 2015, March 2016, April 2016 May 2016 2015 14, 2016 08, 2016 10 2016 12, 2014 09, 2015 14, 2016 08, 2016 10 2016 12 606”). 606 606 606 five may 606 2015 14 December 15, 2016 December 15, 2017, The Company is evaluating the impact of the adoption of the new guidance on its consolidated financial statements. The Company has reviewed other new accounting pronouncements that were issued as of December 31, 2016 |
Note 3 - Goodwill and Other Int
Note 3 - Goodwill and Other Intangible Assets | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 3 . Goodwill and Other Intangible Assets The following is a summary of goodwill (in thousands): Balance at March 31, 2016 $ 14,490 Goodwill acquired - Foreign currency translation adjustment (144 ) Balance at December 31, 2016 $ 14,346 The following is a summary of other intangible assets, net (in thousands): December 3 1 , 2016 Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Adjustment Net Carrying Value Acquired developed technology $ 5,034 $ (2,091 ) $ (78 ) $ 2,865 Customer relationships 5,853 (2,316 ) (56 ) 3,481 $ 10,887 $ (4,407 ) $ (134 ) $ 6,346 March 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Value Acquired developed technology $ 5,034 $ (1,367 ) $ 3,667 Customer relationships 5,853 (1,509 ) 4,344 $ 10,887 $ (2,876 ) $ 8,011 Acquired developed technology and customer relationships are being amortized on a straight-line basis and have weighted-average remaining useful lives of 3.62 3.54 December 31, 2016. $0.5 three December 31, 2016 2015, $1.6 $1.4 nine December 31, 2016 2015, |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property and Equipment, net Property and equipment, net consist of the following: December 3 1 , March 31, 2016 2016 (in thousands) Computers and software $ 360 $ 360 Furniture and equipment 298 282 Leasehold improvements 59 36 717 678 Less: accumulated depreciation (623 ) (542 ) Total property and equipment, net $ 94 $ 136 Depreciation expense was approximately $0.03 $0.04 three December 31, 2016 2015, $0.08 $0.1 nine December 31, 2016 2015, |
Note 5 - Capitalized Software D
Note 5 - Capitalized Software Development Costs | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Research, Development, and Computer Software Disclosure [Text Block] | 5. Capitalized Software Development Costs The Company capitalizes costs for internal use software incurred during the application development stage that are included in research and development expenses. Costs related to preliminary project activities and post implementation activities are expensed as incurred. The Company capitalized $0.5 $0.3 three December 31, 2016 2015, $1.3 $1.1 nine December 31, 2016 2015, Capitalized software is amortized once the product is ready for its intended use, using the straight-line method over the estimated useful lives of the assets, which is three $0.3 $0.1 three December 31, 2016 2015, $0.8 $0.4 nine December 31, 2016 2015, $2.1 $1.7 December 31, 2016 March 31, 2016, Management continues to evaluate the capitalized software development costs across all product lines and did not nine December 31, 2016 2015. |
Note 6 - Convertible Preferred
Note 6 - Convertible Preferred Stock | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Convertible Preferred Stock [Text Block] | 6. Convertible Preferred Stock In February 2015, 118,829 10 March 31, 2016. In May 2015, ten three June 30, 2015. |
Note 7 - COFACE Loan
Note 7 - COFACE Loan | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 7. COFACE Loan In December 2009, December 31, 2016 March 31, 2016, $0.2 $0.4 |
Note 8 - Equity
Note 8 - Equity | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. Equity Equity Incentive Program The Company’s equity incentive program is a broad-based, retention program comprised of stock options, restricted stock units and an employee stock purchase plan (“ESPP”) designed to align stockholder and employee interests. For a description of the Company’s equity plans, see the notes to consolidated financial statements contained in the Company’s Annual Report on Form 10 March 31, 2016. The Company granted the following stock options and restricted units during the three nine December 31, 2016 2015: Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (in thousands) (in thousands) Stock options 247 353 1,855 1,422 Restricted stock units 69 27 106 165 Total granted 316 380 1,961 1,587 Valuation Assumptions For the three nine December 31, 2016 2015, Period Ended December 31, 2016 Three Months Nine Months Risk-free interest rate 1.86 % 1.28 % Dividend yield 0 % 0 % Expected volatility 58.10 % 52.75 % Expected term in years 6.08 6.08 Weighted average fair value at grant date $ 1.11 $ 0.91 Period Ended December 31, 2015 Three Months Nine Months Risk-free interest rate 1.84 % 1.79 % Dividend yield 0 % 0 % Expected volatility 52.83 % 50.51 % Expected term in years 6.08 6.06 Weighted average fair value at grant date $ 1.66 $ 2.15 The following tables summarize activity under the equity incentive plans for the three December 31, 2016: Options Outstanding Restricted Stock Units Outstanding Number of shares (in th ousands) Weighted average exercise price Number of shares (in thousands) Weighted average fair value Outstanding at October 1, 2016 4,298 $ 3.12 181 $ 4.74 Granted 247 $ 2.00 69 $ 2.00 Exercised/Released - $ - (75 ) $ 3.11 Cancelled (73 ) $ 3.78 - $ - Outstanding at December 31, 2016 4,472 $ 3.05 175 $ 4.36 Vested and expected to vest 4,022 $ 3.13 Shares Available for Grant (in thousands) Balance at October 1, 2016 998 Options: Granted from approved plans (247 ) Cancelled and available for grant 51 Restricted Stock Units: Granted (69 ) Balance at December 31, 2016 733 The weighted average remaining contractual term for exercisable options is 7.75 December 31, 2016 December 31, 2016 $1.95 December 31, 2016 2015 $0.7 $0, December 31, 2016 2015 $0.3 $0.7 The options outstanding and exercisable at December 31, 2016 Options Outstanding Options Vested Range of Exercise Prices per share Number of Shares (in thousands) Weighted- Average Remaining Contractual Life (in years) Number of Shares (in thousands) Weighted-Average Exercise Price per Share $1.35 — $1.35 106 9.45 - $ - $1.64 — $1.64 2,000 9.15 - $ - $1.80 — $2.00 578 9.61 22 $ 1.83 $3.24 — $3.99 318 8.70 128 $ 3.46 $4.32 — $4.32 655 8.57 233 $ 4.32 $5.18 — $6.61 754 7.53 468 $ 6.25 $6.83 — $6.83 50 7.14 50 $ 6.83 $7.20 — $7.20 5 2.16 5 7.20 $11.40 — $11.40 5 1.64 5 $ 11.40 $18.90 — $18.90 1 0.87 1 $ 18.90 $1.35 — $18.90 4,472 8.79 912 $ 5.33 The effect of recording stock-based compensation expense (including expense related to the ESPP discussed below) for each of the periods presented was as follows (in thousands): Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Cost of revenues $ 111 $ 104 $ 236 $ 279 Research and development 66 70 181 198 Sales and marketing 160 264 512 770 General and administrative 294 221 938 621 Impact on net loss $ 630 $ 659 $ 1,867 $ 1,868 Upon the departure of our CEO in June 2015, December 31, 2016, $3.8 $0.8 2.88 1.54 1999 The price paid for the Company’s common stock purchased under the ESPP is equal to 85% three December 31, 2016 2015 $21,000 $21,300, $70,000 $55,000 nine December 31, 2016 2015, nine December 31, 2016 2015, 46,604 24,115 |
Note 9 - Computation of Basic a
Note 9 - Computation of Basic and Diluted Net Loss Per Share | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9 . Computation of Basic and Diluted Net Loss per Share Basic and diluted net loss per share have been computed using the weighted-average number of shares of common stock outstanding during the period. The Company excludes securities from its diluted net loss per share computation when their effect would be antidilutive to net loss per share amounts. The following common stock equivalents were excluded from the net loss per share computation: Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (in thousands) (in thousands) Options 4,380 2,075 4,224 1,612 Unvested restricted stock units 108 234 135 190 Warrants 2,262 2,262 2,262 2,262 Total common stock equivalents excluded from diluted net loss per common share 6,750 4,571 6,621 4,064 |
Note 10 - Restructuring
Note 10 - Restructuring | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 10. Restructuring The following is a summary of restructuring accrual (in thousands): Balance at March 31, 2016 403 Payment of costs (403 ) Balance at December 31, 2016 $ - Restructuring expenses consisted of employee severance costs and other contract termination costs incurred to improve the Company’s cost structure prospectively. As part of the process of consolidating companies and moving forward with its unified platform strategy, the Company evaluated its operations for duplication of efforts and work not in full alignment with its strategy which resulted in the elimination of eleven March 31, 2016, three June 30, 2016. |
Note 11 - Operating Lease Commi
Note 11 - Operating Lease Commitments | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | 11 . Operating Lease Commitments In connection with the acquisition of Iasta, we assumed a lease for an office in Carmel, Indiana, which expired May 31, 2016. April 7, 2016, 8,795 615 100 51 $11,727 first three first In connection with the relocation of its headquarters to Carmel, Indiana, on July 22, 2016, 2121 July 31, 2016. one three Rental expenses for office space were approximately $0.1 $0.2 three December 31, 2016 2015, $0.5 $0.6 nine December 31, 2016 2015, |
Note 12 - Litigation and Contin
Note 12 - Litigation and Contingencies | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 1 2 . Litigation and Contingencies From time to time, the Company is subject to certain routine legal proceedings, as well as demands, claims and threatened litigation, that arise in the normal course of its business. The Company believes that the ultimate amount of liability, if any, for any pending claims of any type (either alone or combined) will not materially affect its financial position, results of operations or liquidity. In March 2015, July 2015, not December 31, 2016. In November 2015, April 2016, $0.6 nine December 31, 2016. Warranties and Indemnifications The Company’s products are generally warranted to perform substantially in accordance with the functional specifications set forth in the associated product documentation for a period of at least 90 not December 31, 2016 March 31, 2016. The Company generally agrees to indemnify its customers against legal claims that the Company’s software infringes certain third third not December 31, 2016 March 31, 2016. |
Note 13 - Credit Facility and C
Note 13 - Credit Facility and Convertible Notes | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 1 3 . Credit Facility and Convertible Notes The Company maintains financing facilities and convertible note purchase agreements. For a description of the Company’s debt financing, see the notes to consolidated financial statements contained in the Company’s Annual Report on Form 10 March 31, 2016 On April 20, 2016, April 20, 2018. In order to satisfy certain conditions for Western Alliance Bank to enter into the Amendment, on April 22, 2016, March 11, 2015, February 3, 2016, April 20, 2018 On April 22, 2016, 2015 2016 March 11, 2015, February 3, 2016, 2015 2016 April 20, 2018. $76,000 five On December 27, 2016, “2016 $2 2016 December 27, 2021 10% December 31, 2016. 2016 2016 12% 2016 13% 2016 second December 27, 2016 Subject to applicable NASDAQ listing rule limitations (including, if applicable, approval by the Company’s stockholders), the outstanding principal and interest under the 2016 may $3.00 may $2.50 $0.50 may 2016 may 19.99% December 27, 2016. Additionally, under the terms of an Amendment to Junior Secured Convertible Promissory Notes, entered into as of December 27, 2016 March 11, 2015 $3 December 16, 2015 $2.5 2016 Further, the Prior Notes issued by the Company on December 16, 2015 “December 2015 $3.00 December 2015 $2.50 December 2015 $0.50 December 2015 $166,000, December 2015 December 31, 2016. Also on December 27, 2016, 2015 2016 10% March 11, 2015 February 3, 2016. 277,248 $1.89 $524,000 As of December 31, 2016 March 31, 2016, $10.9 $9.0 $1.1 $3.0 2 1:00 December 31, 2016, |
Note 14 - Income Taxes
Note 14 - Income Taxes | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Income Taxes The provision for income taxes is based upon loss before income taxes as follows (in thousands): Three Months Ended December 31, 2016 Nine Months Ended December 31, 2016 Domestic pre-tax loss $ (1,461 ) $ (5,590 ) Foreign pre-tax loss (743 ) (2,260 ) Total pre-tax loss $ (2,204 ) $ (7,850 ) The components of the benefit from (provision for) income taxes are as follows (in thousands): Three Months Ended December 31, 2016 Nine Months Ended December 31, 2016 US $ (2 ) $ (5 ) Foreign 37 148 Total benefit from provision for income taxes $ 35 $ 143 The Company accounts for its income taxes in accordance with ASC 740, 740 740, 740 At December 31, 2016, no nor In addition, at December 31, 2016, $1.4 The Company’s Federal, state and foreign tax returns may 1998 2015 |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 15. Related Party Transactions Determine SAS and b-pack Services rent their offices from SCI Donapierre, the company controlled by two ’ three nine December 31, 2016, $28,000 $82,000, The Company also maintains financing facilities and convertible note purchase agreements with related parties. For a description of the Company’s debt financing, see the notes to consolidated financial statements contained in the Company’s Annual Report on Form 10 March 31, 2016 13, Credit Facility and Convertible Notes , |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 16. Subsequent Events On January 23, 2017, $13 In order to satisfy certain conditions for Western Alliance Bank to lend additional funds under the Credit Facility and enter into the Amendment, on January 23, 2017, $3 $4 $1 two may In connection with the Amended Guaranty, the Company entered into a Guaranty Fee Agreement with ALMC, pursuant to which the Company agrees to pay ALMC a commitment fee of $50,000 10% 12. five |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. It also includes non-controlling interest, which is the portion of equity in a subsidiary not attributable to a parent. The non-controlling interest of the Company and its subsidiaries are not considered to be permanent equity. Non-controlling interest’s share of subsidiary earnings is reflected as net loss (income) attributable to non-controlling interest in the condensed consolidated statements of operations and comprehensive loss. Additionally, certain prior period amounts have been reclassified to conform to the current year presentation on the condensed consolidated financial statements. The reclassification of the prior period amounts were not material to the previously reported condensed consolidated financial statements. |
Liquidity Disclosure [Policy Text Block] | Liquidity The Company has incurred significant historical losses and negative cash flows from operations and has an accumulated deficit of $310 December 31, 2016. twelve may may |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates these estimates, including, but not limited to, those related to the accounts receivable and allowance for doubtful accounts, fair values of financial instruments, intangible assets and goodwill, useful lives of intangible assets and property and equipment, fair values of stock-based awards, best estimate of selling price and income taxes. Actual results could differ from those estimates. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company generates revenues by providing its software-as-a-service solutions through subscription license arrangements and related professional services, and related software maintenance. The Company presents revenue net of sales taxes and any similar assessments. Revenue recognition criteria (1) (2) (3) (4) one four Multiple-Deliverable Arrangements. Upon separating the multiple-deliverables into separate units of accounting, the arrangement consideration is allocated to the identified separate units based on a relative selling price hierarchy. The Company determines the relative selling price for a deliverable based on the vendor-specific objective evidence of the selling price (“VSOE”), if available, or its best estimate of the selling price (“BESP”), if VSOE is not available. The Company has determined that third third For professional services and subscription services, the Company has not established VSOE due to lack of pricing consistency and other factors. Accordingly, the Company uses its BESP to determine the relative selling price. The Company determined BESP by considering its price list, as well as overall pricing objectives and market conditions. Significant pricing practices taken into consideration include the Company’s discounting practices, contract prices per user, the size and volume of the Company’s transactions, the customer demographic and its market strategy. Recurring revenues. Non-recurring revenues. Reimbursements, including those related to travel and out-of-pocket expenses are included in non-recurring revenues, and an equivalent amount of reimbursable expenses are included in non-recurring cost of revenues. |
Customer Concentration Risk, Policy [Policy Text Block] | Customer Concentrations Historically, a limited number of customers have accounted for a substantial portion of the Company’s revenues. However, during the three nine December 31, 2016 2015, 10% |
Geographic Information, Policy [Policy Text Block] | Geographic Information International revenues are attributable to countries based on the location of the customer. For the three nine December 31, 2016 2015, Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 International revenues 27 % 15 % 27 % 18 % Domestic revenues 73 % 85 % 73 % 82 % Total revenues 100 % 100 % 100 % 100 % |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In November 2016, No. 2016 18, Statement of Cash Flows (Topic 230): April 1, 2018 2016 18 In October 2016, 2016 16, Accounting for Income Taxes (Topic 740): 740 April 1, 2018 In August 2016, 2016 15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (Topic 230), eight December 15, 2017, 2016 15 In March 2016, 2016 09, Compensation -Stock Compensation (Topic 718): April 1, 2017 In April 2015, 2015 05, Intangibles−Goodwill and Other−Internal-use Software (Subtopic 350 40): December 15, 2015 In April 2015, 2015 03, Interest—Imputation of Interest (Subtopic 835 30): 2015 03”). December 15, 2015. 2015 03 April 1, 2016. August 2015, 2015 15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. 2015 15 2015 03 In February 2015, 2015 02, Consolidation (Subtopic 810) December 15, 2015 In May 2014, 2014 09, Revenue from Contracts with Customers: Topic 606 August 2015, March 2016, April 2016 May 2016 2015 14, 2016 08, 2016 10 2016 12, 2014 09, 2015 14, 2016 08, 2016 10 2016 12 606”). 606 606 606 five may 606 2015 14 December 15, 2016 December 15, 2017, The Company is evaluating the impact of the adoption of the new guidance on its consolidated financial statements. The Company has reviewed other new accounting pronouncements that were issued as of December 31, 2016 |
Note 2 - Summary of Significa23
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 International revenues 27 % 15 % 27 % 18 % Domestic revenues 73 % 85 % 73 % 82 % Total revenues 100 % 100 % 100 % 100 % |
Note 3 - Goodwill and Other I24
Note 3 - Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Balance at March 31, 2016 $ 14,490 Goodwill acquired - Foreign currency translation adjustment (144 ) Balance at December 31, 2016 $ 14,346 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 3 1 , 2016 Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Adjustment Net Carrying Value Acquired developed technology $ 5,034 $ (2,091 ) $ (78 ) $ 2,865 Customer relationships 5,853 (2,316 ) (56 ) 3,481 $ 10,887 $ (4,407 ) $ (134 ) $ 6,346 March 31, 2016 Gross Carrying Amount Accumulated Amortization Net Carrying Value Acquired developed technology $ 5,034 $ (1,367 ) $ 3,667 Customer relationships 5,853 (1,509 ) 4,344 $ 10,887 $ (2,876 ) $ 8,011 |
Note 4 - Property and Equipme25
Note 4 - Property and Equipment, Net (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 3 1 , March 31, 2016 2016 (in thousands) Computers and software $ 360 $ 360 Furniture and equipment 298 282 Leasehold improvements 59 36 717 678 Less: accumulated depreciation (623 ) (542 ) Total property and equipment, net $ 94 $ 136 |
Note 8 - Equity (Tables)
Note 8 - Equity (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Share-based Compensation Arrangement by Share-based Payment Award, Grants in Period [Table Text Block] | Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (in thousands) (in thousands) Stock options 247 353 1,855 1,422 Restricted stock units 69 27 106 165 Total granted 316 380 1,961 1,587 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Period Ended December 31, 2016 Three Months Nine Months Risk-free interest rate 1.86 % 1.28 % Dividend yield 0 % 0 % Expected volatility 58.10 % 52.75 % Expected term in years 6.08 6.08 Weighted average fair value at grant date $ 1.11 $ 0.91 Period Ended December 31, 2015 Three Months Nine Months Risk-free interest rate 1.84 % 1.79 % Dividend yield 0 % 0 % Expected volatility 52.83 % 50.51 % Expected term in years 6.08 6.06 Weighted average fair value at grant date $ 1.66 $ 2.15 |
Schedule of Share-based Compensation, Activity [Table Text Block] | Options Outstanding Restricted Stock Units Outstanding Number of shares (in th ousands) Weighted average exercise price Number of shares (in thousands) Weighted average fair value Outstanding at October 1, 2016 4,298 $ 3.12 181 $ 4.74 Granted 247 $ 2.00 69 $ 2.00 Exercised/Released - $ - (75 ) $ 3.11 Cancelled (73 ) $ 3.78 - $ - Outstanding at December 31, 2016 4,472 $ 3.05 175 $ 4.36 Vested and expected to vest 4,022 $ 3.13 |
Schedule of Share-based Compensation, Shares Available for Grant [Table Text Block] | Shares Available for Grant (in thousands) Balance at October 1, 2016 998 Options: Granted from approved plans (247 ) Cancelled and available for grant 51 Restricted Stock Units: Granted (69 ) Balance at December 31, 2016 733 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Vested Range of Exercise Prices per share Number of Shares (in thousands) Weighted- Average Remaining Contractual Life (in years) Number of Shares (in thousands) Weighted-Average Exercise Price per Share $1.35 — $1.35 106 9.45 - $ - $1.64 — $1.64 2,000 9.15 - $ - $1.80 — $2.00 578 9.61 22 $ 1.83 $3.24 — $3.99 318 8.70 128 $ 3.46 $4.32 — $4.32 655 8.57 233 $ 4.32 $5.18 — $6.61 754 7.53 468 $ 6.25 $6.83 — $6.83 50 7.14 50 $ 6.83 $7.20 — $7.20 5 2.16 5 7.20 $11.40 — $11.40 5 1.64 5 $ 11.40 $18.90 — $18.90 1 0.87 1 $ 18.90 $1.35 — $18.90 4,472 8.79 912 $ 5.33 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Cost of revenues $ 111 $ 104 $ 236 $ 279 Research and development 66 70 181 198 Sales and marketing 160 264 512 770 General and administrative 294 221 938 621 Impact on net loss $ 630 $ 659 $ 1,867 $ 1,868 |
Note 9 - Computation of Basic27
Note 9 - Computation of Basic and Diluted Net Loss Per Share (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended Nine Months Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (in thousands) (in thousands) Options 4,380 2,075 4,224 1,612 Unvested restricted stock units 108 234 135 190 Warrants 2,262 2,262 2,262 2,262 Total common stock equivalents excluded from diluted net loss per common share 6,750 4,571 6,621 4,064 |
Note 10 - Restructuring (Tables
Note 10 - Restructuring (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Balance at March 31, 2016 403 Payment of costs (403 ) Balance at December 31, 2016 $ - |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Three Months Ended December 31, 2016 Nine Months Ended December 31, 2016 Domestic pre-tax loss $ (1,461 ) $ (5,590 ) Foreign pre-tax loss (743 ) (2,260 ) Total pre-tax loss $ (2,204 ) $ (7,850 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended December 31, 2016 Nine Months Ended December 31, 2016 US $ (2 ) $ (5 ) Foreign 37 148 Total benefit from provision for income taxes $ 35 $ 143 |
Note 2 - Summary of Significa30
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Retained Earnings (Accumulated Deficit) | $ (310,040) | $ (302,297) |
Note 2 - Summary of Significa31
Note 2 - Summary of Significant Accounting Policies - Percentage of Revenues By Geographic Area (Details) - Geographic Concentration Risk [Member] - Sales Revenue, Net [Member] | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues as a percentage | 100.00% | 100.00% | 100.00% | 100.00% |
Geographic Distribution, Foreign [Member] | ||||
Revenues as a percentage | 27.00% | 15.00% | 27.00% | 18.00% |
Geographic Distribution, Domestic [Member] | ||||
Revenues as a percentage | 73.00% | 85.00% | 73.00% | 82.00% |
Note 3 - Goodwill and Other I32
Note 3 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Amortization of Intangible Assets | $ 0.5 | $ 0.5 | $ 1.6 | $ 1.4 |
Developed Technology Rights [Member] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 226 days | |||
Customer Relationships [Member] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 197 days |
Note 3 - Goodwill and Other I33
Note 3 - Goodwill and Other Intangible Assets - Summary of Goodwill (Details) $ in Thousands | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Balance | $ 14,490 |
Goodwill acquired | |
Foreign currency translation adjustment | (144) |
Balance | $ 14,346 |
Note 3 - Goodwill and Other I34
Note 3 - Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2016 | Mar. 31, 2016 | |
Gross Carrying Amount | $ 10,887 | $ 10,887 |
Accumulated Amortization | (4,407) | (2,876) |
Foreign Currency Translation Adjustment | (134) | |
Net Carrying Value | 6,346 | 8,011 |
Developed Technology Rights [Member] | ||
Gross Carrying Amount | 5,034 | 5,034 |
Accumulated Amortization | (2,091) | (1,367) |
Foreign Currency Translation Adjustment | (78) | |
Net Carrying Value | 2,865 | 3,667 |
Customer Relationships [Member] | ||
Gross Carrying Amount | 5,853 | 5,853 |
Accumulated Amortization | (2,316) | (1,509) |
Foreign Currency Translation Adjustment | (56) | |
Net Carrying Value | $ 3,481 | $ 4,344 |
Note 4 - Property and Equipme35
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 30 | $ 40 | $ 80 | $ 100 |
Note 4 - Property and Equipme36
Note 4 - Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Property and equipment, gross | $ 717 | $ 678 |
Less: accumulated depreciation | (623) | (542) |
Total property and equipment, net | 94 | 136 |
Computer Equipment [Member] | ||
Property and equipment, gross | 360 | 360 |
Furniture and Equipment [Member] | ||
Property and equipment, gross | 298 | 282 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 59 | $ 36 |
Note 5 - Capitalized Software37
Note 5 - Capitalized Software Development Costs (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Capitalized Computer Software, Period Increase (Decrease) | $ 500 | $ 300 | $ 1,300 | $ 1,100 | |
Capitalized Computer Software, Amortization | 300 | $ 100 | 800 | 400 | |
Unamortized Balance of Capitalized Software | $ 2,100 | 2,100 | $ 1,700 | ||
Capitalized Computer Software, Impairments | $ 0 | $ 0 | |||
Computer Software, Intangible Asset [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years |
Note 6 - Convertible Preferre38
Note 6 - Convertible Preferred Stock (Details Textual) - Series F Convertible Preferred Stock [Member] - shares | 1 Months Ended | |
Feb. 28, 2015 | May 31, 2015 | |
Stock Issued During Period, Shares, New Issues | 118,829 | |
Convertible Preferred Stock, Shares Issued upon Conversion | 10 |
Note 7 - COFACE Loan (Details T
Note 7 - COFACE Loan (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Loans Payable, Current | $ 222 | $ 407 |
Note 8 - Equity (Details Textua
Note 8 - Equity (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 7 years 273 days | |||
Share Price | $ 1.95 | $ 1.95 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 700,000 | $ 0 | $ 700,000 | $ 0 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 3,800,000 | 3,800,000 | ||
Allocated Share-based Compensation Expense | 630,000 | 659,000 | $ 1,867,000 | 1,868,000 |
Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | |||
Allocated Share-based Compensation Expense | 21,000 | 21,300 | $ 70,000 | $ 55,000 |
Stock Issued During Period, Shares, New Issues | 46,604 | 24,115 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | 300,000 | $ 700,000 | $ 300,000 | $ 700,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 800,000 | $ 800,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 197 days | |||
Employee Stock Option [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 321 days |
Note 8 - Equity - Stock Options
Note 8 - Equity - Stock Options and Restricted Units Granted (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stock options (in shares) | 247 | 353 | 1,855 | 1,422 |
Total granted (in shares) | 316 | 380 | 1,961 | 1,587 |
Restricted Stock Units (RSUs) [Member] | ||||
Restricted stock units (in shares) | 69 | 27 | 106 | 165 |
Note 8 - Equity - Valuation Ass
Note 8 - Equity - Valuation Assumptions of Stock Options (Details) - Employee Stock Option [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Risk-free interest rate | 1.86% | 1.84% | 1.28% | 1.79% |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Expected volatility | 58.10% | 52.83% | 52.75% | 50.51% |
Expected term in years (Year) | 6 years 29 days | 6 years 29 days | 6 years 29 days | 6 years 21 days |
Weighted average fair value at grant date (in dollars per share) | $ 1.11 | $ 1.66 | $ 0.91 | $ 2.15 |
Note 8 - Equity - Activity Unde
Note 8 - Equity - Activity Under the Equity Incentive Plans (Details) - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding, beginning balance (in shares) | 4,298 | |||
Outstanding, beginning balance (in dollars per share) | $ 3.12 | |||
Granted (in shares) | 247 | 353 | 1,855 | 1,422 |
Granted (in dollars per share) | $ 2 | |||
Exercised/Released (in shares) | ||||
Exercised/Released (in dollars per share) | ||||
Cancelled (in shares) | (73) | |||
Cancelled (in dollars per share) | $ 3.78 | |||
Outstanding, ending balance (in shares) | 4,472 | 4,472 | ||
Outstanding, ending balance (in dollars per share) | $ 3.05 | $ 3.05 | ||
Vested and expected to vest (in shares) | 4,022 | |||
Vested and expected to vest (in dollars per share) | $ 3.13 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Outstanding, beginning balance (in shares) | 181 | |||
Outstanding, beginning balance (in dollars per share) | $ 4.74 | |||
Granted (in shares) | 69 | 27 | 106 | 165 |
Granted (in dollars per share) | $ 2 | |||
Exercised/Released (in shares) | (75) | |||
Exercised/Released (in dollars per share) | $ 3.11 | |||
Cancelled (in shares) | ||||
Cancelled (in dollars per share) | ||||
Outstanding, ending balance (in shares) | 181 | 175 | ||
Outstanding, ending balance (in dollars per share) | $ 4.36 | $ 4.36 |
Note 8 - Equity - Summary of Sh
Note 8 - Equity - Summary of Shares Available for Grant (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance (in shares) | 998 | |||
Granted from approved plans (in shares) | (247) | (353) | (1,855) | (1,422) |
Cancelled and available for grant (in shares) | 51 | |||
Ending balance (in shares) | 733 | 733 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Granted (in shares) | (69) | (27) | (106) | (165) |
Note 8 - Equity - Options Outst
Note 8 - Equity - Options Outstanding and Exercisable, By Exercise Range (Details) shares in Thousands | 9 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Lower Range of Exercise Price (in dollars per share) | $ 1.35 |
Upper Range of Exercise Price (in dollars per share) | $ 18.90 |
Options Outstanding, Number of Shares (in shares) | shares | 4,472 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 8 years 288 days |
Options Vested, Number of Shares (in shares) | shares | 912 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 5.33 |
Range 1 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 1.35 |
Upper Range of Exercise Price (in dollars per share) | $ 1.35 |
Options Outstanding, Number of Shares (in shares) | shares | 106 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 9 years 164 days |
Options Vested, Number of Shares (in shares) | shares | |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | |
Range 2 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 1.64 |
Upper Range of Exercise Price (in dollars per share) | $ 1.64 |
Options Outstanding, Number of Shares (in shares) | shares | 2,000 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 9 years 54 days |
Options Vested, Number of Shares (in shares) | shares | |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | |
Range 3 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 1.80 |
Upper Range of Exercise Price (in dollars per share) | $ 2 |
Options Outstanding, Number of Shares (in shares) | shares | 578 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 9 years 222 days |
Options Vested, Number of Shares (in shares) | shares | 22 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 1.83 |
Range 4 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 3.24 |
Upper Range of Exercise Price (in dollars per share) | $ 3.99 |
Options Outstanding, Number of Shares (in shares) | shares | 318 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 8 years 255 days |
Options Vested, Number of Shares (in shares) | shares | 128 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 3.46 |
Range 5 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 4.32 |
Upper Range of Exercise Price (in dollars per share) | $ 4.32 |
Options Outstanding, Number of Shares (in shares) | shares | 655 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 8 years 208 days |
Options Vested, Number of Shares (in shares) | shares | 233 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 4.32 |
Range 6 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 5.18 |
Upper Range of Exercise Price (in dollars per share) | $ 6.61 |
Options Outstanding, Number of Shares (in shares) | shares | 754 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 7 years 193 days |
Options Vested, Number of Shares (in shares) | shares | 468 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 6.25 |
Range 7 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 6.83 |
Upper Range of Exercise Price (in dollars per share) | $ 6.83 |
Options Outstanding, Number of Shares (in shares) | shares | 50 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 7 years 51 days |
Options Vested, Number of Shares (in shares) | shares | 50 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 6.83 |
Range 8 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 7.20 |
Upper Range of Exercise Price (in dollars per share) | $ 7.20 |
Options Outstanding, Number of Shares (in shares) | shares | 5 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 2 years 58 days |
Options Vested, Number of Shares (in shares) | shares | 5 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 7.20 |
Range 9 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 11.40 |
Upper Range of Exercise Price (in dollars per share) | $ 11.40 |
Options Outstanding, Number of Shares (in shares) | shares | 5 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 1 year 233 days |
Options Vested, Number of Shares (in shares) | shares | 5 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 11.40 |
Range 10 [Member] | |
Lower Range of Exercise Price (in dollars per share) | 18.90 |
Upper Range of Exercise Price (in dollars per share) | $ 18.90 |
Options Outstanding, Number of Shares (in shares) | shares | 1 |
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 317 days |
Options Vested, Number of Shares (in shares) | shares | 1 |
Options Vested, Weighted-Average Exercise Price per Share (in dollars per share) | $ 18.90 |
Note 8 - Equity - Effect of Rec
Note 8 - Equity - Effect of Recording Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allocated share-based compensation expense | $ 630 | $ 659 | $ 1,867 | $ 1,868 |
Cost of Sales [Member] | ||||
Allocated share-based compensation expense | 111 | 104 | 236 | 279 |
Research and Development Expense [Member] | ||||
Allocated share-based compensation expense | 66 | 70 | 181 | 198 |
Sales and Marketing [Member] | ||||
Allocated share-based compensation expense | 160 | 264 | 512 | 770 |
General and Administrative Expense [Member] | ||||
Allocated share-based compensation expense | $ 294 | $ 221 | $ 938 | $ 621 |
Note 9 - Computation of Basic47
Note 9 - Computation of Basic and Diluted Net Loss Per Share - Antidilutive Securities Excluded From the Computation of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive securities (in shares) | 6,750 | 4,571 | 6,621 | 4,064 |
Employee Stock Option [Member] | ||||
Antidilutive securities (in shares) | 4,380 | 2,075 | 4,224 | 1,612 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive securities (in shares) | 108 | 234 | 135 | 190 |
Warrant [Member] | ||||
Antidilutive securities (in shares) | 2,262 | 2,262 | 2,262 | 2,262 |
Note 10 - Restructuring (Detail
Note 10 - Restructuring (Details Textual) | 12 Months Ended |
Mar. 31, 2016 | |
Restructuring and Related Cost, Number of Positions Eliminated | 11 |
Note 10 - Restructuring - Summa
Note 10 - Restructuring - Summary of Restructuring Accrual (Details) $ in Thousands | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Balance | $ 403 |
Payment of costs | (403) |
Balance |
Note 11 - Operating Lease Com50
Note 11 - Operating Lease Commitments (Details Textual) | Apr. 07, 2016USD ($)ft² | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Operating Leases, Rent Expense | $ 100,000 | $ 200,000 | $ 500,000 | $ 600,000 | |
Carmel, Indiana Office Space [Member] | Atapco Carmel, Inc. [Member] | |||||
Area of Real Estate Property | ft² | 8,795 | ||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 4 years 90 days | ||||
Lessee Leasing Arrangements, Operating Leases, Monthly Rental Payments | $ 11,727 |
Note 12 - Litigation and Cont51
Note 12 - Litigation and Contingencies (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | |
Apr. 30, 2016 | Dec. 31, 2016 | Mar. 31, 2016 | |
Standard and Extended Product Warranty Accrual, Decrease for Payments | $ 0 | ||
Warranty Term | 90 days | ||
Standard and Extended Product Warranty Accrual | $ 0 | $ 0 | |
Indemnification Agreement [Member] | |||
Loss Contingency Accrual | $ 0 | $ 0 | |
Intellectual Property Litigation [Member] | |||
Proceeds from Legal Settlements | $ 600 |
Note 13 - Credit Facility and52
Note 13 - Credit Facility and Convertible Notes (Details Textual) | Dec. 27, 2016USD ($)$ / sharesshares | Apr. 22, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Dec. 16, 2015USD ($)$ / shares | Mar. 11, 2015USD ($) |
Gain (Loss) on Extinguishment of Debt | $ 166,000 | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 1,100,000 | $ 3,000,000 | |||||
Line of Credit Facility Current Ratio Covenant | 2 | ||||||
Junior Secured Convertible Promissory Note [Member] | |||||||
Debt Instrument, Face Amount | $ 2,000,000 | $ 2,500,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||
Debt Instrument, Convertible, Interest Rate When Not In Default | 12.00% | ||||||
Debt Instrument, Default Interest Rate | 13.00% | ||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 3 | $ 3 | |||||
Debt Instrument, Convertible, Price Reduction Trigger | $ / shares | 2.50 | 2.50 | |||||
Debt Instrument, Convertible, Spread on Offering Price | $ / shares | $ 0.50 | $ 0.50 | |||||
Maximum Convertible Stock, Percent | 19.99% | ||||||
Junior Secured Convertible Promissory Note [Member] | Debt Extinguishment With Related Party [Member] | |||||||
Gain (Loss) on Extinguishment of Debt | $ 166,000 | ||||||
Credit Facility Guarantee [Member] | |||||||
Guarantee Agreement Annual Fee Percentage | 10.00% | ||||||
Credit Facility Guarantee [Member] | Grantor [Member] | |||||||
Stock Issued During Period, Shares, New Issues | shares | 277,248 | ||||||
Shares Issued, Price Per Share | $ / shares | $ 1.89 | ||||||
Credit Facility Guarantee [Member] | Grantor [Member] | Value of Accrued Fees Paid With Issuance of Stock [Member] | |||||||
Stock Issued During Period, Value, New Issues | $ 524,000 | ||||||
Largest Stockholder and MILFAM II L.P. (Affiliate) [Member] | Credit Facility Guarantee [Member] | |||||||
Guarantee Agreement, PIK Commitment Fee, Minimum Amount | $ 76,000 | ||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 3,000,000 | ||||||
Guarantor Obligations, Current Carrying Value | $ 10,900,000 | $ 9,000,000 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) $ in Thousands | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Unrecognized Tax Benefits, Period Increase (Decrease) | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 |
Unrecognized Tax Benefits | $ 1,400 |
Earliest Tax Year [Member] | |
Open Tax Year | 1,998 |
Latest Tax Year [Member] | |
Open Tax Year | 2,015 |
Note 14 - Income Taxes - Income
Note 14 - Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Dec. 31, 2016 | Dec. 31, 2016 | |
Domestic pre-tax loss | $ (1,461) | $ (5,590) |
Foreign pre-tax loss | (743) | (2,260) |
Total pre-tax loss | $ (2,204) | $ (7,850) |
Note 14 - Income Taxes - Compon
Note 14 - Income Taxes - Components of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
US | $ (2) | $ (5) | ||
Foreign | 37 | 148 | ||
Total benefit from provision for income taxes | $ 35 | $ 233 | $ 143 | $ 213 |
Note 15 - Related Party Trans56
Note 15 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended |
Dec. 31, 2016 | Dec. 31, 2016 | |
Rental Payments [Member] | SCI Donapierre [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 28,000 | $ 82,000 |
Note 16 - Subsequent Events (De
Note 16 - Subsequent Events (Details Textual) - USD ($) | Jan. 23, 2017 | Jan. 22, 2017 | Mar. 11, 2015 |
Credit Facility Guarantee [Member] | Largest Stockholder and MILFAM II L.P. (Affiliate) [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 3,000,000 | ||
Subsequent Event [Member] | Credit Facility Guarantee [Member] | Largest Stockholder and MILFAM II L.P. (Affiliate) [Member] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 4,000,000 | $ 3,000,000 | |
Guarantee Agreement Term | 2 years | ||
Guarantor Obligations, Fees | $ 50,000 | ||
Guarantee Agreement, Monthly Fee, Percentage | 10.00% | ||
Subsequent Event [Member] | Western Alliance Bank [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 13,000,000 | ||
Subsequent Event [Member] | Western Alliance Bank [Member] | Credit Facility Guarantee [Member] | Largest Stockholder and MILFAM II L.P. (Affiliate) [Member] | |||
Guarantor Obligations, Collateral Held Directly or by Third Parties1 | $ 1,000,000 |