Cryoport (CYRX) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	Cryoport, Inc.
Entity Central Index Key	0001124524
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	CYRX
Entity Common Stock, Shares Outstanding		30,566,780
Entity Emerging Growth Company	false
Entity Small Business	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 32,771,986	$ 37,327,125
Short-term investments	14,500,748	9,930,968
Accounts receivable, net	4,208,333	3,543,666
Inventories	227,090	220,514
Prepaid expenses and other current assets	741,614	752,269
Total current assets	52,449,771	51,774,542
Property and equipment, net	5,124,655	4,357,498
Operating lease right-of-use assets	1,711,727	0
Intangible assets, net	157,708	137,220
Deposits	350,494	350,837
Total assets	59,794,355	56,620,097
Current Liabilities:
Accounts payable and other accrued expenses	2,326,143	1,709,397
Accrued compensation and related expenses	1,753,499	1,262,478
Current portion of operating lease liabilities	390,790	0
Current portion of finance lease liabilities	23,531	23,191
Deferred revenue	37,918	66,315
Total current liabilities	4,531,881	3,061,381
Convertible note, net of discount of $292,800 and $288,400, respectively	14,707,215	14,711,580
Operating lease liabilities, net of current portion	1,621,183	0
Finance lease liabilities, net of current portion	27,138	33,156
Deferred rent liability, net of current portion	0	267,415
Total liabilities	20,887,417	18,073,532
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 30,677,500 and 30,319,038 issued and outstanding at March 31, 2019 and December 31, 2018, respectively	30,678	30,319
Additional paid-in capital	182,230,799	179,501,577
Accumulated deficit	(143,375,386)	(140,988,484)
Accumulated other comprehensive income	20,847	3,153
Total stockholders' equity	38,906,938	38,546,565
Total liabilities and stockholders' equity	59,794,355	56,620,097
Class A convertible preferred stock [Member]
Stockholders' Equity:
Preferred stock value	0	0
Class B Convertible Preferred Stock [Member]
Stockholders' Equity:
Preferred stock value	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts receivable	$ 100,000	$ 100,000
Convertible Subordinated Debt	$ 292,800	$ 288,400
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	2,500,000	2,500,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	30,677,500	30,319,038
Common stock, shares outstanding	30,677,500	30,319,038
Class A Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	800,000	800,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class B Convertible Preferres Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	585,000	585,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 6,652,912	$ 4,023,189
Cost of revenues	3,199,011	1,838,826
Gross margin	3,453,901	2,184,363
Operating costs and expenses:
General and administrative	2,696,859	2,068,510
Sales and marketing	2,407,992	1,584,428
Engineering and development	489,596	329,730
Total operating costs and expenses	5,594,447	3,982,668
Loss from operations	(2,140,546)	(1,798,305)
Other income (expense):
Interest expense	(338,728)	0
Warrant inducement and repricing expense	0	(899,410)
Other income, net	91,472	15,768
Loss before benefit (provision) for income taxes	(2,387,802)	(2,681,947)
Benefit (provision) for income taxes	900	(813)
Net loss	$ (2,386,902)	$ (2,682,760)
Net loss per share – basic and diluted	$ (0.08)	$ (0.10)
Weighted average shares outstanding – basic and diluted	30,441,996	26,774,179

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net loss	$ (2,386,902)	$ (2,682,760)
Other comprehensive income (loss), net of tax:
Net unrealized gain on available-for-sale debt securities	30,872	0
Reclassification of realized gain on available-for-sale debt securities to earnings	(3,098)	0
Foreign currency translation adjustments	(10,080)	0
Other comprehensive gain	17,694	0
Total comprehensive loss	$ (2,369,208)	$ (2,682,760)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($)	Total	Class A Preferred Stock	Class B Preferred Stock	Common Stock [Member]	Additional Paid–In Capital [Member]	Accumulated Deficit	Accumulated Other Comprehensive Income [Member]
Balance at Dec. 31, 2017	$ 17,886,766	$ 0	$ 0	$ 25,702	$ 149,293,947	$ (131,432,883)	$ 0
Balance (in shares) at Dec. 31, 2017				25,701,924
Net loss	(2,682,760)	0	0	$ 0	0	(2,682,760)	0
Other comprehensive income, net of taxes	0
Stock-based compensation expense	1,032,010	0	0	0	1,032,010	0	0
Warrant repricing expense	899,410	0	0	0	899,410	0	0
Proceeds from tender offer, net of costs of $99,357	4,641,807	0	0	$ 1,580	4,640,227	0	0
Proceeds from tender offer, net of costs of $99,357 (in shares)				1,580,388
Issuance of common stock for board of director compensation	17,500	0	0	$ 2	17,498	0	0
Issuance of common stock for board of director compensation (in shares)				1,938
Proceeds from exercise of stock options and warrants	658,544	0	0	$ 309	658,235	0	0
Proceeds from exercise of stock options and warrants (in shares)				308,868
Balance at Mar. 31, 2018	22,453,277	0	0	$ 27,593	156,541,327	(134,115,643)	0
Balance (in shares) at Mar. 31, 2018				27,593,118
Balance at Dec. 31, 2018	38,546,565	0	0	$ 30,319	179,501,577	(140,988,484)	3,153
Balance (in shares) at Dec. 31, 2018				30,319,038
Net loss	(2,386,902)	0	0	$ 0	0	(2,386,902)	0
Other comprehensive income, net of taxes	17,694	0	0	0	0	0	17,694
Stock-based compensation expense	1,396,235	0	0	0	1,396,235	0	0
Issuance of common stock for board of director compensation	17,500	0	0	$ 1	17,499	0	0
Issuance of common stock for board of director compensation (in shares)				1,319
Proceeds from exercise of stock options and warrants	1,315,846	0	0	$ 358	1,315,488	0	0
Proceeds from exercise of stock options and warrants (in shares)				357,143
Balance at Mar. 31, 2019	$ 38,906,938	$ 0	$ 0	$ 30,678	$ 182,230,799	$ (143,375,386)	$ 20,847
Balance (in shares) at Mar. 31, 2019				30,677,500

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2018USD ($)
Tender Offer [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 99,357

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows From Operating Activities:
Net loss	$ (2,386,902)	$ (2,682,760)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	300,565	187,834
Amortization of debt discount	15,383	0
Unrealized gain on investments in equity securities	(31,545)	0
Stock-based compensation expense	1,413,735	1,049,510
Warrant inducement and repricing expense	0	899,410
Loss on disposal of property and equipment	47,603	20,585
Changes in operating assets and liabilities:
Accounts receivable	(664,667)	(760,428)
Inventories	(6,576)	(7,130)
Prepaid expenses and other current assets	10,049	(25,035)
Change in operating lease right-of-use assets and lease liabilities	(9,309)	0
Accounts payable and other accrued expenses	659,335	108,924
Accrued compensation and related expenses	491,123	149,018
Deferred revenue	(28,397)	(3,581)
Net cash used in operating activities	(189,603)	(1,063,653)
Cash Flows From Investing Activities:
Purchases of property and equipment	(1,121,025)	(269,543)
Purchases of short-term investments	(5,010,461)	0
Maturity of short-term investment	500,000	0
Patent and trademark costs	(20,488)	(15,350)
Net cash used in investing activities	(5,651,974)	(284,893)
Cash Flows From Financing Activities:
Proceeds from February 2018 tender offer, net of offering costs	0	4,641,807
Proceeds from exercise of stock options and warrants	1,315,846	658,544
Payment of deferred financing costs	(19,748)	0
Repayment of finance lease liabilities	(5,678)	0
Net cash provided by financing activities	1,290,420	5,300,351
Effect of exchange rates on cash and cash equivalents	(3,982)	0
Net change in cash and cash equivalents	(4,555,139)	3,951,805
Cash and cash equivalents — beginning of period	37,327,125	15,042,189
Cash and cash equivalents — end of period	32,771,986	18,993,994
Supplemental Disclosure of Non-Cash Financing Activities:
Change in net unrealized gain on available-for-sale securities	30,872	0
Reclassification of realized gain on available-for-sale debt securities to earnings	$ (3,098)	$ 0

Management's Representation and

Management's Representation and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Management's Representation and Basis of Presentation	Note 1. Management’s Representation and Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Cryoport, Inc. (the “Company”, “our” or “we”) in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statement presentation. However, the Company believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, all adjustments (consisting primarily of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The Company has evaluated subsequent events through the date of this filing and determined that no subsequent events have occurred that would require recognition in the unaudited condensed consolidated financial statements or disclosure in the notes thereto other than as disclosed in the accompanying notes.

Nature of the Business

Nature of the Business	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Note 2. Nature of the Business Cryoport, Inc. (“Cryoport”) is the premier provider of temperature-controlled logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. The Company provides leading edge logistics solutions to the biopharma, reproductive medicine and animal health markets to ship, store and deliver biologic materials, such as immunotherapies, stem cells, CAR-T cell therapies, vaccines and reproductive cells for clients worldwide Cryoport actively supports pharmaceutical and biotechnology companies, points-of-care, contract research organizations, central laboratories, contract manufacturers, university researchers and other entities service the life sciences industry. The Company is a Nevada corporation and its common stock is traded on the NASDAQ Capital Market exchange under the ticker symbol “CYRX.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of Cryoport, Inc. and its wholly owned subsidiaries, Cryoport Systems, Inc., Cryoport Netherlands B.V. and Cryoport UK Limited (collectively, the “Company”). All intercompany accounts and transactions have been eliminated. Cash and Cash Equivalents Our cash and cash equivalents represent demand deposits, and money market funds which are readily convertible into cash, have maturities of 90 days or less when purchased and are considered highly liquid and easily tradeable. Short-Term Investments Our investments in equity securities consist of mutual funds with readily determinable fair values which are carried at fair value with changes in fair value recognized in earnings. Investments in debt securities are classified as available-for-sale and are carried at fair value, with unrealized gains and losses, net of tax, reported as accumulated other comprehensive income (loss) and included as a separate component of stockholders’ equity. Gains and losses are recognized when realized. When we have determined that an other than temporary decline in fair value has occurred, the amount related to a credit loss is recognized in earnings. Gains and losses are determined using the specific identification method. Short-term investments are classified as current assets even though maturities may extend beyond one year because they represent investments of cash available for operations. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from estimated amounts. The Company’s significant estimates include the allowance for doubtful accounts, fair value of short-term investments, recoverability of long-lived assets, allowance for inventory obsolescence, deferred taxes and their accompanying valuations, and valuation of equity-based instruments. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses, finance lease liabilities and the convertible note. The carrying value for all such instruments, except finance lease liabilities and the convertible note, approximates fair value at March 31, 2019 and December 31, 2018 due to their short-term nature. The carrying value of finance lease liabilities approximates fair value because the interest rate approximates market rates available to us for similar obligations with the same maturities. The convertible note bears an interest rate that fluctuates with the changes in LIBOR and, because the variable interest rates approximate market borrowing rates available to us, we believe the carrying value of the convertible note approximates its fair value at March 31, 2019 Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. From time to time, we maintain cash, cash equivalent and short-term investment balances in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”). Primarily all of our cash, cash equivalents and short-term investments at March 31, 2019 were in excess of amounts insured by the FDIC and SIPC. The Company performs ongoing evaluations of these institutions to limit its concentration risk exposure. We manage such risks in our portfolio by investing in highly liquid, highly-rated instruments, and limit investing in long-term maturity instruments. Our investment policy requires that purchased instruments in marketable securities may only be in highly-rated instruments, which are primarily U.S. Treasury bills or treasury-backed securities, and also limits our investment in securities of any single issuer. Customers The Company grants credit to customers within the U.S. and to a limited number of international customers and does not require collateral. Revenues from international customers are generally secured by advance payments except for established foreign customers. The Company generally requires advance or credit card payments for initial revenues from new customers. The Company’s ability to collect receivables can be affected by economic fluctuations in the geographic areas and industries served by the Company. Reserves for uncollectible amounts are provided based on past experience and a specific analysis of the accounts, which management believes is sufficient. Accounts receivable at March 31, 2019 and December 31, 2018 are net of reserves for doubtful accounts of $100,000. Although the Company expects to collect amounts due, actual collections may differ from the estimated amounts. The Company maintains reserves for bad debt and such losses, in the aggregate, historically have not exceeded its estimates. The Company’s customers are in the biotechnology, pharmaceutical, animal health, reproductive medicine and other life science industries. Consequently, there is a concentration of accounts receivable within these industries, which is subject to normal credit risk. As of March 31, 2019, there were two customers that accounted for 31.2% and 22.9%, respectively, of net accounts receivable. As of December 31, 2018, there were two customers that accounted for 29.0% and 23.4%, respectively, of net accounts receivable. There were no other single customers that owed us more than 10% of net accounts receivable at March 31, 2019 and December 31, 2018. The Company has revenue from foreign customers primarily in Europe, Japan, Canada, India and Australia. During the three months ended March 31, 2019 and 2018, the Company had revenues from foreign customers of approximately $483,800 and $528,200, respectively, which constituted approximately 7.8% and 13.1%, respectively, of total revenues. There were two customers that accounted for 24.7% and 10.6% of revenues during the three months ended March 31, 2019, respectively. No other single customer generated over 10% of revenues during the three months ended March 31, 2019 and 2018. Inventories The Company’s inventories consist of packaging materials and accessories that are sold to customers. Inventories are stated at the lower of cost and net realizable value. Cost is determined using the standard cost method which approximates the first-in, first-to-expire method. Inventories are reviewed periodically for slow-moving or obsolete status. The Company writes down the carrying value of its inventories to reflect situations in which the cost of inventories is not expected to be recovered. Once established, write-downs of inventories are considered permanent adjustments to the cost basis of the obsolete or excess inventories. Raw materials and finished goods include material costs less reserves for obsolete or excess inventories. The Company evaluates the current level of inventories considering historical trends and other factors, such as selling prices and costs of completion, disposal and transportation, and based on the evaluation, records adjustments to reflect inventories at net realizable value. These adjustments are estimates, which could vary significantly from actual results if future economic conditions, customer demand, competition or other relevant factors differ from expectations. These estimates require us to make assessments about future demand for the Company’s products in order to categorize the status of such inventories items as slow-moving, obsolete or in excess-of-need. These estimates are subject to the ongoing accuracy of the Company’s forecasts of market conditions, industry trends, competition and other factors. Property and Equipment The Company provides shipping containers (“Shippers”) to its customers and charges a fee in exchange for the use of the Shipper. The Company’s arrangements are similar to the accounting standard for leases since they convey the right to use the Shipper over a period of time. The Company retains the title to the Shippers and provides its customers the use of the Shipper for a specific shipping cycle. At the culmination of the customer’s shipping cycle, the Shipper is returned to the Company. As a result, the Company classifies the Shippers as property and equipment for the per-use Shipper program. Property and equipment are recorded at cost. Shippers and data loggers, which comprise 39% and 34% of the Company’s net property and equipment balance at March 31, 2019 and December 31, 2018, respectively, are depreciated using the straight-line method over their estimated useful lives of three years. Equipment and furniture are depreciated using the straight-line method over their estimated useful lives (generally three to seven years) and leasehold improvements are amortized using the straight-line method over the estimated useful life of the asset or the lease term, whichever is shorter. Betterments, renewals and extraordinary repairs that extend the lives of the assets are capitalized; other repairs and maintenance charges are expensed as incurred. The cost and related accumulated depreciation and amortization applicable to assets retired are removed from the accounts, and the gain or loss on disposition is recognized in the consolidated statements of operations. Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset during the lease term, and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating leases are included in ROU assets, current operating lease liabilities, and long-term operating lease liabilities on our consolidated balance sheets. Finance leases are included in property and equipment, current finance lease liabilities, and long-term finance lease liabilities on our consolidated balance sheets. Lease ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease term at commencement date calculated using our incremental borrowing rate applicable to the lease asset, unless the implicit rate is readily determinable. ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives received. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Leases with a term of 12 months or less are not recognized on the condensed consolidated balance sheet. The Company’s leases do not contain any residual value guarantees. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components as a single lease component for all its leases. Intangible Assets Intangible assets are comprised of patents and trademarks and software development costs. The Company capitalizes costs of obtaining patents and trademarks, which are amortized, using the straight-line method over their estimated useful life of five years once the patent or trademark has been issued. The Company capitalizes certain costs related to software developed for internal use. Software development costs incurred during the preliminary or maintenance project stages are expensed as incurred, while costs incurred during the application development stage are capitalized and amortized using the straight-line method over the estimated useful life of the software, which is five years. Capitalized costs include purchased materials and costs of services. Long-lived Assets If indicators of impairment exist, we assess the recoverability of the affected long-lived assets by determining whether the carrying value of such assets can be recovered through undiscounted future operating cash flows. If impairment is indicated, we measure the amount of such impairment by comparing the fair value to the carrying value. We believe the future cash flows to be received from the long-lived assets will exceed the assets’ carrying value, and accordingly, we have not recognized any impairment losses through March 31, 2019. Deferred Financing Costs Deferred financing costs represent costs incurred in connection with the issuance of debt instruments and equity financings. Deferred financing costs related to the issuance of debt are amortized over the term of the financing instrument using the effective interest method, and are presented in the consolidated balance sheets as an offset against the related debt. Offering costs from equity financings are netted against the gross proceeds received from the equity financings. Income Taxes The Company accounts for income taxes under the provision of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Income Taxes , or ASC 740. As of March 31, 2019 and December 31, 2018, there were no unrecognized tax benefits included in the accompanying condensed consolidated balance sheets that would, if recognized, affect the effective tax rates. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. Based on the weight of available evidence, the Company’s management has determined that it is more likely than not that the net deferred tax assets will not be realized. Therefore, the Company has recorded a full valuation allowance against the net deferred tax assets. The Company’s income tax provision consists of state minimum taxes. The Company’s policy is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties on its condensed consolidated balance sheets at March 31, 2019 and December 31, 2018 and has not recognized interest and/or penalties in the condensed consolidated statements of operations for the three months ended March 31, 2019 and 2018. The Company is subject to taxation in the U.S. and various state jurisdictions. As of March 31, 2019, the Company is no longer subject to U.S. federal examinations for years before 2015 and for California franchise and income tax examinations for years before 2014. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where net operating losses were generated and carried forward, and make adjustments up to the amount of the net operating loss carry forward amount. The Company is not currently under examination by U.S. federal or state jurisdictions. Revenue Recognition Revenues are recognized when control is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods and services. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. Performance Obligations At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when our performance obligation has been met. The Company considers control to have transferred upon delivery because the Company has a present right to payment at that time, the Company has transferred use of the asset, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. For arrangements under which the Company provides logistics support and management to the customer, the Company satisfies its performance obligations as those services are performed whereby the customer simultaneously receives and consumes the benefits of such services under the agreement. Revenue generated from short-term logistics and engineering consulting services provided to customers is recognized or when the Company satisfies the contractually defined performance obligations. Our performance obligations on our orders are generally satisfied within one year from a given reporting date and, therefore, we omit disclosure of the transaction price allocated to remaining performance obligations on open orders. Shipping and handling activities related to contracts with customers are accounted for as costs to fulfill our promise to transfer the associated products pursuant to the accounting policy election allowed under Topic 606 and are not considered a separate performance obligation to our customers. Accordingly, the Company records amounts billed for shipping and handling as a component of revenue. Shipping and handling fees and costs are included in cost of revenues in the accompanying condensed consolidated statements of operations. Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to governmental agencies. Significant Payment Terms Pursuant to the Company’s contracts with its customers, amounts billed for services or products delivered by the Company are generally due and payable in full within 15 days from the date of the invoice (except for any amounts disputed by the customer in good faith). Accordingly, the Company determined that its contracts with customers do not include extended payment terms or a significant financing component. Variable Consideration In some cases, the nature of the Company’s contracts may give rise to variable consideration, including discounts and allowances or other similar items that generally decrease the transaction price. Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available. Revenues are recorded net of variable consideration, such as discounts and allowances. Warranties The Company’s products and services are provided on an “as is” basis and no warranties are included in the contracts with customers. Also, the Company does not offer separately priced extended warranty or product maintenance contracts. The Company expenses incremental direct costs of obtaining a contract (sales commissions) when incurred because the amortization period is generally 12 months or less. The Company does not incur costs to fulfill a customer contract that meet the requirements for capitalization. Incremental Direct Costs The Company expenses incremental direct costs of obtaining a contract (sales commissions) when incurred because the amortization period is generally 12 months or less. The Company does not incur costs to fulfill a customer contract that meet the requirements for capitalization. Contract Assets Typically, we invoice the customer and recognize revenue once we have satisfied our performance obligation. Accordingly, our contract assets comprise accounts receivable. Generally, we do not have material amounts of other contract assets since revenue is recognized as control of goods is transferred or as services are performed. Contract Liabilities (Deferred Revenue) Contract liabilities are recorded when cash payments are received in advance of the Company’s performance. Deferred revenue was $37,900 and $66,300 at March 31, 2019 and December 31, 2018, respectively. During the three months ended March 31, 2019, the Company recognized revenues of $66,300 related to contact liabilities outstanding at December 31, 2018 as the services were performed. Nature of Goods and Services The Company provides Shippers to its customers and charges a fee in exchange for the use of the Shipper under long-term agreements with customers. The Company’s arrangements convey to the customers the right to use the Shippers over a period of time. The Company retains title to the Shippers and provides its customers the use of the Shipper for a specified shipping cycle. At the culmination of the customer’s shipping cycle, the Shipper is returned to the Company. The vast majority of our revenues are covered under long-term agreements. We have determined that individual Statements of Work (“SOW”), whose terms and conditions taken with a Master Services Agreement (“MSA”), create the Topic 606 contracts which are generally short-term in nature (e.g., 15-day shipping cycle). Our agreements (including SOWs) generally do not have multiple performance obligations and, therefore, do not require an allocation of a single price amongst multiple goods or services. Prices under these agreements are generally fixed. The Company recognizes revenue for the use of the shipper at the time of the delivery of the shipper to the end user of the enclosed materials, and at the time that collectability is probable. The Company also provides logistics support and management to some customers, which may include onsite logistics personnel. Revenue is recognized for these services as services are rendered over time and at the time that collectability is probable. The Company also provides short-term logistics and engineering consulting services to some customers, with fees tied to the completion of contractually defined services. We recognize revenue from these services when we satisfy the performance obligation. Revenue Disaggregation The Company operates in one reportable segment and evaluates financial performance on a Company-wide basis. We consider sales disaggregated by end-market to depict how the nature, amount, timing and uncertainty of revenues and cash flows are impacted by changes in economic factors. The following table disaggregates our revenues by major source for the three months ended March 31, 2019 and 2018: Three Months Ended March 31, (amounts in thousands) 2019 2018 Biopharmaceutical $ 5,640 $ 3,282 Reproductive medicine 784 502 Animal health 229 239 Total revenues $ 6,653 $ 4,023 Our geographical revenues, by origin, for the three months ended March 31, 2019 and 2018, were as follows: Three Months Ended March 31 (amounts in thousands) 2019 2018 Americas $ 6,169 $ 3,495 Europe, the Middle East and Africa (EMEA) 364 368 Asia Pacific (APAC) 120 160 Total revenues $ 6,653 $ 4,023 Engineering and Development Expenses Expenditures relating to engineering and development are expensed in the period incurred. Stock-Based Compensation The Company accounts for stock-based payments in accordance with stock-based payment accounting guidance which requires all stock-based payments to be recognized based upon their fair values. The fair value of stock-based awards is estimated at the grant date using the Black-Scholes Option Pricing Model (“Black-Scholes”) and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period. The determination of fair value using Black-Scholes is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables, including expected stock price volatility, risk-free interest rate, expected dividends and projected employee stock option exercise behaviors. The Company accounts for forfeitures of unvested awards as they occur. The Company’s stock-based compensation plans are discussed further in Note 10. Basic and Diluted Net Loss Per Share We calculate basic and diluted net income (loss) per share using the weighted average number of common shares outstanding during the periods presented. In periods of a net loss position, basic and diluted weighted average common shares are the same. For the diluted earnings per share calculation, we adjust the weighted average number of common shares outstanding to include dilutive stock options, warrants and shares associated with the conversion of convertible debt outstanding during the periods. The following shows the amounts used in computing net loss per share for the three months ended March 31: Three Months Ended March 31, 2019 2018 Net loss $ (2,386,902 ) $ (2,682,760 ) Weighted average common shares issued and outstanding - basic and diluted 30,441,996 26,774,179 Basic and diluted net loss per share $ (0.08 ) $ (0.10 ) The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive: Three Months Ended March 31, 2019 2018 Stock options 2,986,999 2,753,544 Warrants 1,155,365 3,261,763 Convertible note 1,372,998 — 5,515,362 6,015,307 Segment Reporting We currently operate in one reportable segment and our Chief Executive Officer is the chief operating decision maker. Foreign Currency Transactions Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of the Netherlands and UK subsidiaries are translated into U.S. dollars at the period-end exchange rates. Income and expenses are translated at an average exchange rate for the period and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The translation gain (loss) adjustment totaled $(10,080) for the three months ended March 31, 2019. Balance Sheet Arrangements We do not currently have any off balance sheet arrangements. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Recently Adopted Accounting Pronouncements In June 2018, the FASB issued ASU 2018-07, “Compensation Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting” which simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, “Compensation-Stock Compensation ” s condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases”, as amended by ASU No. 2018-11, “Leases: Targeted Improvements (ASC 842), which provides for a comprehensive change to lease accounting. The new guidance amends the existing accounting standards for leases to increase transparency and comparability among organizations by requiring the recognition of ROU assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We adopted the standard effective January 1, 2019 using the modified retrospective approach with the effective date as the date of initial application. Consequently, prior period balances and disclosures have not been restated. Also, the Company has implemented additional internal controls to enable future preparation of financial information in accordance with ASC 842. The standard had a material impact on our condensed consolidated balance sheets, which resulted in the recognition of ROU assets of $1.8 million, lease liabilities of $2.1 million for operating leases, while our accounting for finance leases remained substantially unchanged. However, the adoption of the new standard did not materially impact our consolidated results of operations and cash flows. Also, the adoption of ASC 842 did not have an impact on the Company’s beginning accumulated deficit balance. ASC 842 provides a number of optional practical expedients in transition. For leases that commenced prior to January 1, 2019, the Company elected: (1) the “package of practical expedients”, which permits it not to reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs, and (2) the use-of-hindsight in determining the lease term and in assessing impairment of ROU assets. In addition, ASC 842 provides practical expedients for an entity’s ongoing accounting that the Company has elected, comprised of the following: (1) the election for classes of underlying asset to not separate non-lease components from lease components, and (2) the election for short-term lease recognition exemption for all leases that qualify. For additional information regarding the Company’s leases, see Note 8.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	3 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Short-term Investments	Note 4. Cash, Cash Equivalents and Short-Term Investments Cash, cash equivalents and short-term investments consisted of the following as of March 31, 2019 and December 31, 2018: March 31, December 31, Cash $ 32,149,195 $ 37,223,698 Cash equivalents: Money market mutual fund 622,791 103,427 Total cash and cash equivalents 32,771,986 37,327,125 Short-term investments: U.S. Treasury notes and bills 11,454,106 7,925,975 Mutual funds 3,046,642 2,004,993 Total short-term investments 14,500,748 9,930,968 Cash, cash equivalents and short-term investments $ 47,272,734 $ 47,258,093 Available-for-sale investments The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at March 31, 2019 were as follows: Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Treasury bills $ 2,454,675 $ 32,185 $ — $ 2,486,860 U.S. Treasury notes 8,948,075 20,820 (1,649 ) 8,967,246 Total available-for-sale investments $ 11,402,750 $ 53,005 $ (1,649 ) $ 11,454,106 The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at December 31, 2018 were as follows: Amortized Unrealized Unrealized Fair Value U.S. Treasury bills $ 2,948,777 $ 19,523 $ — $ 2,968,300 U.S. Treasury notes 4,953,616 4,059 — 4,957,675 Total available-for-sale investments $ 7,902,393 $ 23,582 $ — $ 7,925,975 The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of March 31, 2019: Amortized Cost Fair Value Due within one year $ 8,407,226 $ 8,459,616 Due between one and two years 2,995,524 2,994,490 Total $ 11,402,750 $ 11,454,106 The gross unrealized losses of available-for-sale investments that were in an unrealized loss position as of March 31, 2019 were insignificant. As of December 31, 2018, there were no available-for-sale investments in an unrealized loss position. The primary objective of our investment portfolio is to enhance overall returns in an efficient manner while maintaining safety of principal, prudent levels of liquidity and acceptable levels of risk. Our investment policy limits interest-bearing security investments to certain types of debt and money market instruments issued by institutions with primarily investment-grade credit ratings, and it places restrictions on maturities and concentration by asset class and issuer. We review our available-for-sale investments for other-than-temporary declines in fair value below our cost basis each quarter and whenever events or changes in circumstances indicate that the cost basis of an asset may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below our cost basis, as well as adverse conditions related specifically to the security such as any changes to the credit rating of the security and the intent to sell or whether we will more likely than not be required to sell the security before recovery of its amortized cost basis. Our assessment of whether a security is other-than-temporarily impaired could change in the future based on new developments or changes in assumptions related to that particular security. During the three months ended March 31, 2019, we had realized gains of $5,900 on available-for-sale investments. Equity Investments We held investments in equity securities with readily determinable fair values of $3.0 million at March 31, 2019. These investments consist of mutual funds that invest primarily in tax free municipal bonds and treasury inflation protected securities. Unrealized gains (losses) during 2019 related to equity securities held at March 31, 2019 are as follows: Net gains recognized during the three months on equity securities $ 31,545 Less: net gains (losses) recognized during the year on equity securities sold during the three months — Unrealized gains recognized during the three months on equity securities still held at March 31, 2019 $ 31,545

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Note 5. Fair Value Measurements We measure fair value based on the prices that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based on a three-tier hierarchy that prioritizes the inputs used to measure fair value. These tiers include the following: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that are accessible at the measurement date. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. These inputs include quoted prices for similar assets or liabilities; quoted market prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as consider counterparty credit risk in the assessment of fair value. We did not elect the fair value option, as allowed, to account for financial assets and liabilities that were not previously carried at fair value. Therefore, material financial assets and liabilities that are not carried at fair value, such as trade accounts receivable and payable, are reported at their historical carrying values. The carrying values of our assets that are required to be measured at fair value on a recurring basis as of March 31, 2019 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above: Fair Value Measurements Level 1 Level 2 Level 3 Total March 31, 2019 Cash equivalents: Money market mutual fund $ 622,791 $ — $ — $ 622,791 Marketable equity securities: Mutual funds 3,046,642 — — 3,046,642 Available-for-sale debt securities: U.S. Treasury notes 2,486,860 — — 2,486,860 U.S. Treasury bills 8,967,246 — — 8,967,246 $ 15,123,539 $ — $ — $ 15,123,539 Our equity securities and available-for-sale debt securities, including U.S. treasury notes and U.S. treasury bills are valued using inputs observable in active markets for identical securities and are therefore classified as Level I within the fair value hierarchy. We did not have any financial liabilities measured at fair value on a recurring basis as of March 31, 2019.

Convertible Note

Convertible Note	3 Months Ended
	Mar. 31, 2019
Convertible Notes Payable [Abstract]
Convertible Note	Note 6. Convertible Note On December 14, 2018, we entered into a Securities Purchase and Registration Rights Agreement (the “SPA”) with Petrichor Opportunities Fund I LP (the “Investor”) in connection with (i) the issuance and sale of 1,000,000 shares of the Company’s common stock, par value $0.001 per share (the “Investment Shares”), at a price equal to $10.00 per share (See Note 11) and (ii) the issuance of a $15,000,000 floating rate convertible note (the “Note”) of the Company, with such Note convertible on the terms stated therein into shares of Common Stock (the “Note Shares”) (together, the “Transaction”). In connection with the Transaction, the Company paid Petrichor Opportunities Fund I LP a commitment fee of $250,000 on the aggregate total purchase price for the Transaction. The Note is the senior unsecured obligation of the Company. Unless earlier converted or redeemed, the Note will mature on December 14, 2023 Prior to the maturity, a holder of the Note will have the right to convert all or any portion of the Note, including any accrued but unpaid interest, into shares of Common Stock at a conversion price of $13.11 per share (the “Conversion Price”), subject to certain adjustments as set forth in the Note. The Company determined that the Note’s conversion option includes a down round price protection feature which triggers upon the occurrence of a future event. As a result, the Company will account for the conversion option in accordance with ASU 2017-11 and related accounting guidance, which requires the Company to recognize a contingent beneficial conversion feature in earnings at such time the conversion price is adjusted. If, at any time on or prior to December 14, 2021, the volume-weighted average price of the Common Stock exceeds $17.48 for 15 consecutive trading days and certain additional conditions are satisfied, the Note will automatically convert into shares of Common Stock at the Conversion Price, subject to certain conditions. At any time after June 14, 2019, the Company has the right to redeem all, but not less than all, of the outstanding Note for cash prior to the Maturity Date, at a redemption premium on such amount as follows: (a) prior to December 14, 2019, 112%; (b) after December 14, 2019 but on or prior to December 14, 2020, 109%; and (c) after December 14, 2020, 106% (the “Redemption Premium”). Upon the occurrence of certain events of default as set forth in the Note (other than events of default relating to bankruptcy, insolvency, reorganization or liquidation proceedings) or a change of control, a holder of the Note may require the Company to redeem all or any portion of its Note at the applicable Redemption Premium. If certain events of default relating to bankruptcy, insolvency, reorganization or liquidation proceedings occur, all outstanding principal and accrued and unpaid interest (plus any accrued and unpaid late charges) will automatically become due and payable at the applicable Redemption Premium. The Note contains certain covenants and restrictions, including, among others, that, for so long as the Note is outstanding, the Company will not incur any indebtedness (other than permitted indebtedness under the Note), permit liens on its properties (other that permitted liens under the Note), make payments on junior securities, make dividends or transfer certain assets or permit its unrestricted cash to be less than a minimum amount. Pursuant to the SPA, the Company agreed to register the Investment Shares and the Note Shares by filing a registration statement with the SEC by the 45th calendar day after the closing date of the Transaction. The registration statement was filed on January 28, 2019 and was declared effective by the SEC on February 14, 2019. The issuance costs for this Transaction, including the commitment fee paid to the Investor totaled approximately $480,000. As these costs were incurred to raise both debt and equity, the total costs have been allocated on a pro rata basis to the debt and equity financings based on their relative fair values. The pro-rata portion of these fees related to the Note will be amortized over the five-year stated life of the Note. The interest expense was $322,500 for the three months ended March 31, 2019, all of which is included in accounts payable and other accrued expenses in the accompanying condensed consolidated balance sheet as of March 31, 2019.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7. Commitments and Contingencies Facility and Equipment Leases We lease 27,600 square feet of corporate, research and development, and logistics facilities in Irvine, California under an operating lease expiring February 2023, subject to our option to extend the lease for two additional five-year periods. The initial base rent is approximately $24,700 per month. We also lease 8,100 square feet of logistics facilities in Livingston, New Jersey under an operating lease expiring December 2024, subject to our option to extend the lease for an additional five-year period. The initial base rent is approximately $7,600 per month. In addition, we lease 7,600 square feet of logistics facilities in Hoofddorp, The Netherlands under an operating lease expiring May 2023, subject to our option to extend the lease for two additional five-year periods. The initial base rent is approximately $5,400 per month. These lease agreements contain certain scheduled annual rent increases which are accounted for on a straight-line basis. In addition, we lease certain equipment which expires through January 2024. Employment Agreements We have entered into employment agreements with certain of our officers under which payment and benefits would become payable in the event of termination by us for any reason other than cause, or upon a change in control of our Company, or by the employee for good reason. Litigation The Company may become a party to product litigation in the normal course of business. The Company accrues for open claims based on its historical experience and available insurance coverage. In the opinion of management, there are no legal matters involving the Company that would have a material adverse effect upon the Company’s consolidated financial condition or results of operations. Indemnities and Guarantees The Company has made certain indemnities and guarantees, under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain actions or transactions. The guarantees and indemnities do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated nor incurred any payments for these obligations and, therefore, no liabilities have been recorded for these indemnities and guarantees in the accompanying consolidated balance sheets. The Company indemnifies its directors, officers, employees and agents, as permitted under the laws of the States of California and Nevada. In connection with its facility and equipment leases, the Company has indemnified its lessors for certain claims arising from the use of the facilities and equipment. The duration of the guarantees and indemnities varies, and is generally tied to the life of the agreements.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Note 8. Leases The Company has operating and finance leases for corporate offices and certain equipment. leases have remaining lease terms of two years to approximately six years, some of which include options to extend the leases for multiple renewal periods of five years each. As of March 31, 2019 and December 31, 2018, assets recorded under finance leases were $71,000, and accumulated depreciation associated with finance leases was $15,200 and $6,800, respectively. The components of lease cost were as follows: Three Months Ended March 31, 2019 Operating lease cost $ 124,100 Finance lease cost: Amortization of right-of-use assets $ 2,500 Interest on finance lease liabilities 807 3,307 Total lease cost $ 127,407 Other information related to leases was as follows: Three Months Ended Supplemental Cash Flows Information March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 133,000 Operating cash flows from finance leases $ 807 Financing cash flows from finance leases $ 5,700 Right-of-use assets obtained in exchange for lease obligations: Operating leases Finance leases $ 21,100 $ — Weighted-Average Remaining Lease Term Operating leases 4.4 years Finance leases 2.1 years Weighted-Average Discount Rate Operating leases 8.3 % Finance leases 6.0 % Future minimum lease payments under non-cancellable leases as of March 31, 2019 were as follows: Years Ending December 31, Operating Finance 2019 (excluding the three months ended March 31, 2019) $ 406,256 $ 19,455 2020 552,601 25,940 2021 552,970 8,647 2022 556,359 — 2023 218,632 — Thereafter 132,982 — Total future minimum lease payments 2,419,800 54,042 Less imputed interest (407,827 ) (3,373 ) Total $ 2,011,973 $ 50,669 Reported as of March 31, 2019 Operating Finance Current lease liabilities $ 390,790 $ 23,531 Noncurrent lease liabilities 1,621,183 27,138 Total $ 2,011,973 $ 50,669 Disclosures related to periods prior to adoption of ASC 842 The future minimum obligations under operating and capital leases in effect as of December 31, 2018 having a noncancelable term in excess of one year as determined prior to the adoption of ASC 842 are as follows: Years Ending December 31, Operating Capital 2019 $ 525,592 $ 25,940 2020 537,742 25,940 2021 538,893 8,647 2022 542,790 — 2023 198,219 — Thereafter 109,773 — Total minimum lease payments $ 2,453,009 60,527 Amount representing interest at 6% (4,180 ) Present value of future minimum capital lease obligations 56,347 Current portion (23,191 ) $ 33,156

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 9. Stockholders’ Equity Authorized Stock The Company has 100,000,000 authorized shares of common stock with a par value of $0.001 per share, and 2,500,000 undesignated or “blank check” preferred stock, with a par value of $0.001, of which, 800,000 shares have been designated as Class A Convertible Preferred Stock and 585,000 shares have been designated as Class B Convertible Preferred Stock. Common Stock Issued for Services During the three months ended March 31, 2019, 1,319 shares of common stock with a fair value of $17,500 were issued to two members of the board of directors as compensation for services. During the three months ended March 31, 2018, 1,938 shares of common stock with a fair value of $17,500 were issued to two members of the board of directors as compensation for services. Common Stock Reserved for Future Issuance As of March 31, 2019, approximately 7.5 million shares of common stock were issuable upon conversion or exercise of rights granted under prior financing arrangements, stock options and warrants, as follows: Exercise of stock options 5,738,313 Exercise of warrants 1,789,260 Total shares of common stock reserved for future issuances 7,527,573 In addition, we reserved 1,372,998 shares of common stock issuable upon conversion of our Note, which reflects 120% of the maximum number of Note Shares issuable upon conversion of the Note (see Note 6). February 2018 Tender Offer On February 8, 2018, we completed an exchange offer with respect to the Company’s outstanding warrants to purchase one share of common stock at an exercise price of $3.57 per share (the “Original Warrants”). Through February 2, 2018, we offered holders of the Original Warrants the opportunity to exchange such Original Warrants for an equal number of warrants to purchase one share of common stock at an exercise price of $3.00 per share (the “New Warrants”), conditioned upon the immediate exercise of such New Warrants. Pursuant to the February 2018 Tender Offer, warrants to purchase 1,580,388 shares of the Company’s common stock were tendered by holders of warrants and were amended and exercised in connection therewith, resulting in the issuance by the Company of an aggregate of 1,580,388 shares of its common stock for aggregate gross proceeds of $4.7 million. The Original Warrants were issued (i) in July 2015 in connection with the Company’s registered public offering of 2,090,750 units (each unit consisting of one share of the Company’s common stock and one Original Warrant), and (ii) in January 2016 in connection with the mandatory exchange of all of the Company’s outstanding Class A Convertible Preferred Stock and Class B Convertible Preferred Stock into 4,977,038 units (each unit consisting of one share of the Company’s common stock and one Original Warrant). The terms of the New Warrants included (i) an exercise price of $3.00 per share and (ii) an exercise period that expired concurrently with the expiration of the Offer at 5:00 p.m. (Eastern Time) on February 2, 2018 (the “Expiration Date”). In addition, the shares issuable upon exercise of the New Warrants (the “New Warrant Shares”) were subject to a 60-day lock-up period. The purpose of the Offer was to raise funds to support the Company’s growth plans by providing the holders of the Original Warrants an incentive to exchange their Original Warrants for New Warrants and exercise the New Warrants to purchase shares of the Company’s common stock at a reduced exercise price as compared to the Original Warrants. The Company received all of the proceeds from the immediate exercise of the New Warrants, which will be used by the Company for business growth, including as working capital and for other general corporate purposes. As a result of reducing the exercise price of certain warrants in connection with the February 2018 Tender Offer, a warrant repricing expense of $899,400 was incurred which was determined using the Black-Scholes option pricing model and was calculated as the difference between the fair value of the warrants prior to, and immediately after, the reduction in the exercise price on the date of repricing. Such amount is included in warrant inducement and repricing expense in the condensed consolidated statement of operations for the three months ended March 31, 2018. In connection with this offering, the Company incurred $99,400 in offering costs that were offset against the proceeds from this offering.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Note 10. Stock-Based Compensation Warrant Activity We typically issue warrants to purchase shares of our common stock to investors as part of a financing transaction or in connection with services rendered by placement agents and consultants. Our outstanding warrants expire on varying dates through November 2021 Number of Shares Weighted- Average Exercise Price/Share Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding — December 31, 2018 2,049,534 $ 4.03 Issued — — Exercised (237,225 ) 4.22 Expired (23,049 ) 11.95 Outstanding — March 31, 2019 1,789,260 $ 3.91 1.3 $ 16,223,500 Vested (exercisable) — March 31, 2019 1,789,260 $ 3.91 1.3 $ 16,223,500 (1) Aggregate intrinsic value represents the difference between the exercise price of the warrant and the closing market price of our common stock on March 29, 2019, which was $12.92 per share. Total intrinsic value of warrants exercised during the three months ended March 31, 2019 was $1.6 million. Stock Options We have five stock incentive plans: the 2002 Stock Incentive Plan (the “2002 Plan”), the 2009 Stock Incentive Plan (the “2009 Plan”), the 2011 Stock Incentive Plan (the “2011 Plan”), the 2015 Omnibus Equity Incentive Plan (the “2015 Plan”), and the 2018 Omnibus Equity Incentive Plan (the “2018 Plan”), (collectively, the “Plans”). The 2002 Plan, the 2009 Plan, the 2011 Plan and the 2015 Plan (the “Prior Plans”) have been superseded by the 2018 Plan. In May 2018, the stockholders approved the 2018 Plan for issuance up to 3,730,179 shares. The Prior Plans will remain in effect until all awards granted under such Prior Plans have been exercised, forfeited, cancelled, or have otherwise expired or terminated in accordance with the terms of such awards, but no awards will be made pursuant to the Prior Plans after the effectiveness of the 2018 Plan. As of March 31, 2019, the Company had 4,019,728 shares available for future awards under the 2018 Plan. During the three months ended March 31, 2019, we granted stock options at exercise prices equal to or greater than the quoted market price of our common stock on the grant date. The fair value of each option grant was estimated on the date of grant using Black-Scholes with the following weighted average assumptions: Expected life (years) 5.7 – 6.2 Risk-free interest rate 2.4% - 2.6% Volatility 94% – 99% Dividend yield 0% The expected option life assumption is estimated based on the simplified method. Accordingly, the Company has utilized the average of the contractual term of the options and the weighted average vesting period for all options to calculate the expected option term. The risk-free interest rate assumption is based upon observed interest rates appropriate for the expected term of our employee stock options. The expected volatility is based on the historical volatility of our stock commensurate with the expected life of the stock-based award. We do not anticipate paying dividends on the common stock in the foreseeable future. We recognize stock-based compensation expense over the vesting period using the straight-line single option method. Stock-based compensation expense is recognized only for those awards that vest. We account for the forfeitures of unvested awards as they occur. Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following: Three Months Ended March 31, Three Months Ended March 31, 2019 2018 Cost of revenues $ 62,753 $ 35,457 General and administrative 940,139 727,723 Sales and marketing 339,075 229,565 Engineering and development 71,768 56,765 $ 1,413,735 $ 1,049,510 A summary of stock option activity is as follows: Number of Shares Weighted- Average Exercise Price/Share Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding — December 31, 2018 5,757,305 $ 5.16 Granted (weighted-average fair value of $7.20 per share) 154,650 9.27 Exercised (119,918 ) 3.12 Forfeited (53,724 ) 10.85 Outstanding — March 31, 2019 5,738,313 $ 5.26 7.0 $ 44,101,200 Vested (exercisable) — March 31, 2019 3,998,833 $ 4.67 6.4 $ 33,026,000 Expected to vest after March 31, 2019 (unexercisable) 1,739,480 $ 6.61 8.4 $ 11,075,200 (1) Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on March 29, 2018, which was $12.92 per share. Total intrinsic value of options exercised during the three months ended March 31, 2019 was $1.0 million, As of March 31, 2019, there was unrecognized compensation expense of $8.7 million related to unvested stock options, which we expect to recognize over a weighted average period of 2.7 years.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Cryoport, Inc. and its wholly owned subsidiaries, Cryoport Systems, Inc., Cryoport Netherlands B.V. and Cryoport UK Limited (collectively, the “Company”). All intercompany accounts and transactions have been eliminated.
Cash and Cash Equivalents	Cash and Cash Equivalents Our cash and cash equivalents represent demand deposits, and money market funds which are readily convertible into cash, have maturities of 90 days or less when purchased and are considered highly liquid and easily tradeable.
Short-Term Investments	Short-Term Investments Our investments in equity securities consist of mutual funds with readily determinable fair values which are carried at fair value with changes in fair value recognized in earnings. Investments in debt securities are classified as available-for-sale and are carried at fair value, with unrealized gains and losses, net of tax, reported as accumulated other comprehensive income (loss) and included as a separate component of stockholders’ equity. Gains and losses are recognized when realized. When we have determined that an other than temporary decline in fair value has occurred, the amount related to a credit loss is recognized in earnings. Gains and losses are determined using the specific identification method. Short-term investments are classified as current assets even though maturities may extend beyond one year because they represent investments of cash available for operations.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from estimated amounts. The Company’s significant estimates include the allowance for doubtful accounts, fair value of short-term investments, recoverability of long-lived assets, allowance for inventory obsolescence, deferred taxes and their accompanying valuations, and valuation of equity-based instruments.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses, finance lease liabilities and the convertible note. The carrying value for all such instruments, except finance lease liabilities and the convertible note, approximates fair value at March 31, 2019 and December 31, 2018 due to their short-term nature. The carrying value of finance lease liabilities approximates fair value because the interest rate approximates market rates available to us for similar obligations with the same maturities. The convertible note bears an interest rate that fluctuates with the changes in LIBOR and, because the variable interest rates approximate market borrowing rates available to us, we believe the carrying value of the convertible note approximates its fair value at March 31, 2019
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. From time to time, we maintain cash, cash equivalent and short-term investment balances in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”). Primarily all of our cash, cash equivalents and short-term investments at March 31, 2019 were in excess of amounts insured by the FDIC and SIPC. The Company performs ongoing evaluations of these institutions to limit its concentration risk exposure. We manage such risks in our portfolio by investing in highly liquid, highly-rated instruments, and limit investing in long-term maturity instruments. Our investment policy requires that purchased instruments in marketable securities may only be in highly-rated instruments, which are primarily U.S. Treasury bills or treasury-backed securities, and also limits our investment in securities of any single issuer.
Customers	Customers The Company grants credit to customers within the U.S. and to a limited number of international customers and does not require collateral. Revenues from international customers are generally secured by advance payments except for established foreign customers. The Company generally requires advance or credit card payments for initial revenues from new customers. The Company’s ability to collect receivables can be affected by economic fluctuations in the geographic areas and industries served by the Company. Reserves for uncollectible amounts are provided based on past experience and a specific analysis of the accounts, which management believes is sufficient. Accounts receivable at March 31, 2019 and December 31, 2018 are net of reserves for doubtful accounts of $100,000. Although the Company expects to collect amounts due, actual collections may differ from the estimated amounts. The Company maintains reserves for bad debt and such losses, in the aggregate, historically have not exceeded its estimates. The Company’s customers are in the biotechnology, pharmaceutical, animal health, reproductive medicine and other life science industries. Consequently, there is a concentration of accounts receivable within these industries, which is subject to normal credit risk. As of March 31, 2019, there were two customers that accounted for 31.2% and 22.9%, respectively, of net accounts receivable. As of December 31, 2018, there were two customers that accounted for 29.0% and 23.4%, respectively, of net accounts receivable. There were no other single customers that owed us more than 10% of net accounts receivable at March 31, 2019 and December 31, 2018. The Company has revenue from foreign customers primarily in Europe, Japan, Canada, India and Australia. During the three months ended March 31, 2019 and 2018, the Company had revenues from foreign customers of approximately $483,800 and $528,200, respectively, which constituted approximately 7.8% and 13.1%, respectively, of total revenues. There were two customers that accounted for 24.7% and 10.6% of revenues during the three months ended March 31, 2019, respectively. No other single customer generated over 10% of revenues during the three months ended March 31, 2019 and 2018.
Inventories	Inventories The Company’s inventories consist of packaging materials and accessories that are sold to customers. Inventories are stated at the lower of cost and net realizable value. Cost is determined using the standard cost method which approximates the first-in, first-to-expire method. Inventories are reviewed periodically for slow-moving or obsolete status. The Company writes down the carrying value of its inventories to reflect situations in which the cost of inventories is not expected to be recovered. Once established, write-downs of inventories are considered permanent adjustments to the cost basis of the obsolete or excess inventories. Raw materials and finished goods include material costs less reserves for obsolete or excess inventories. The Company evaluates the current level of inventories considering historical trends and other factors, such as selling prices and costs of completion, disposal and transportation, and based on the evaluation, records adjustments to reflect inventories at net realizable value. These adjustments are estimates, which could vary significantly from actual results if future economic conditions, customer demand, competition or other relevant factors differ from expectations. These estimates require us to make assessments about future demand for the Company’s products in order to categorize the status of such inventories items as slow-moving, obsolete or in excess-of-need. These estimates are subject to the ongoing accuracy of the Company’s forecasts of market conditions, industry trends, competition and other factors.
Property and Equipment	Property and Equipment The Company provides shipping containers (“Shippers”) to its customers and charges a fee in exchange for the use of the Shipper. The Company’s arrangements are similar to the accounting standard for leases since they convey the right to use the Shipper over a period of time. The Company retains the title to the Shippers and provides its customers the use of the Shipper for a specific shipping cycle. At the culmination of the customer’s shipping cycle, the Shipper is returned to the Company. As a result, the Company classifies the Shippers as property and equipment for the per-use Shipper program. Property and equipment are recorded at cost. Shippers and data loggers, which comprise 39% and 34% of the Company’s net property and equipment balance at March 31, 2019 and December 31, 2018, respectively, are depreciated using the straight-line method over their estimated useful lives of three years. Equipment and furniture are depreciated using the straight-line method over their estimated useful lives (generally three to seven years) and leasehold improvements are amortized using the straight-line method over the estimated useful life of the asset or the lease term, whichever is shorter. Betterments, renewals and extraordinary repairs that extend the lives of the assets are capitalized; other repairs and maintenance charges are expensed as incurred. The cost and related accumulated depreciation and amortization applicable to assets retired are removed from the accounts, and the gain or loss on disposition is recognized in the consolidated statements of operations.
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset during the lease term, and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating leases are included in ROU assets, current operating lease liabilities, and long-term operating lease liabilities on our consolidated balance sheets. Finance leases are included in property and equipment, current finance lease liabilities, and long-term finance lease liabilities on our consolidated balance sheets. Lease ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease term at commencement date calculated using our incremental borrowing rate applicable to the lease asset, unless the implicit rate is readily determinable. ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives received. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Leases with a term of 12 months or less are not recognized on the condensed consolidated balance sheet. The Company’s leases do not contain any residual value guarantees. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components as a single lease component for all its leases.
Intangible Assets	Intangible Assets Intangible assets are comprised of patents and trademarks and software development costs. The Company capitalizes costs of obtaining patents and trademarks, which are amortized, using the straight-line method over their estimated useful life of five years once the patent or trademark has been issued. The Company capitalizes certain costs related to software developed for internal use. Software development costs incurred during the preliminary or maintenance project stages are expensed as incurred, while costs incurred during the application development stage are capitalized and amortized using the straight-line method over the estimated useful life of the software, which is five years. Capitalized costs include purchased materials and costs of services.
Long-lived Assets	Long-lived Assets If indicators of impairment exist, we assess the recoverability of the affected long-lived assets by determining whether the carrying value of such assets can be recovered through undiscounted future operating cash flows. If impairment is indicated, we measure the amount of such impairment by comparing the fair value to the carrying value. We believe the future cash flows to be received from the long-lived assets will exceed the assets’ carrying value, and accordingly, we have not recognized any impairment losses through March 31, 2019.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs represent costs incurred in connection with the issuance of debt instruments and equity financings. Deferred financing costs related to the issuance of debt are amortized over the term of the financing instrument using the effective interest method, and are presented in the consolidated balance sheets as an offset against the related debt. Offering costs from equity financings are netted against the gross proceeds received from the equity financings.
Income Taxes	Income Taxes The Company accounts for income taxes under the provision of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Income Taxes , or ASC 740. As of March 31, 2019 and December 31, 2018, there were no unrecognized tax benefits included in the accompanying condensed consolidated balance sheets that would, if recognized, affect the effective tax rates. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. Based on the weight of available evidence, the Company’s management has determined that it is more likely than not that the net deferred tax assets will not be realized. Therefore, the Company has recorded a full valuation allowance against the net deferred tax assets. The Company’s income tax provision consists of state minimum taxes. The Company’s policy is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties on its condensed consolidated balance sheets at March 31, 2019 and December 31, 2018 and has not recognized interest and/or penalties in the condensed consolidated statements of operations for the three months ended March 31, 2019 and 2018. The Company is subject to taxation in the U.S. and various state jurisdictions. As of March 31, 2019, the Company is no longer subject to U.S. federal examinations for years before 2015 and for California franchise and income tax examinations for years before 2014. However, to the extent allowed by law, the taxing authorities may have the right to examine prior periods where net operating losses were generated and carried forward, and make adjustments up to the amount of the net operating loss carry forward amount. The Company is not currently under examination by U.S. federal or state jurisdictions.
Revenue Recognition	Revenue Recognition Revenues are recognized when control is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods and services. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. Performance Obligations At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Revenue is recognized when our performance obligation has been met. The Company considers control to have transferred upon delivery because the Company has a present right to payment at that time, the Company has transferred use of the asset, and the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. For arrangements under which the Company provides logistics support and management to the customer, the Company satisfies its performance obligations as those services are performed whereby the customer simultaneously receives and consumes the benefits of such services under the agreement. Revenue generated from short-term logistics and engineering consulting services provided to customers is recognized or when the Company satisfies the contractually defined performance obligations. Our performance obligations on our orders are generally satisfied within one year from a given reporting date and, therefore, we omit disclosure of the transaction price allocated to remaining performance obligations on open orders. Shipping and handling activities related to contracts with customers are accounted for as costs to fulfill our promise to transfer the associated products pursuant to the accounting policy election allowed under Topic 606 and are not considered a separate performance obligation to our customers. Accordingly, the Company records amounts billed for shipping and handling as a component of revenue. Shipping and handling fees and costs are included in cost of revenues in the accompanying condensed consolidated statements of operations. Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to governmental agencies. Significant Payment Terms Pursuant to the Company’s contracts with its customers, amounts billed for services or products delivered by the Company are generally due and payable in full within 15 days from the date of the invoice (except for any amounts disputed by the customer in good faith). Accordingly, the Company determined that its contracts with customers do not include extended payment terms or a significant financing component. Variable Consideration In some cases, the nature of the Company’s contracts may give rise to variable consideration, including discounts and allowances or other similar items that generally decrease the transaction price. Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available. Revenues are recorded net of variable consideration, such as discounts and allowances. Warranties The Company’s products and services are provided on an “as is” basis and no warranties are included in the contracts with customers. Also, the Company does not offer separately priced extended warranty or product maintenance contracts. The Company expenses incremental direct costs of obtaining a contract (sales commissions) when incurred because the amortization period is generally 12 months or less. The Company does not incur costs to fulfill a customer contract that meet the requirements for capitalization. Incremental Direct Costs The Company expenses incremental direct costs of obtaining a contract (sales commissions) when incurred because the amortization period is generally 12 months or less. The Company does not incur costs to fulfill a customer contract that meet the requirements for capitalization. Contract Assets Typically, we invoice the customer and recognize revenue once we have satisfied our performance obligation. Accordingly, our contract assets comprise accounts receivable. Generally, we do not have material amounts of other contract assets since revenue is recognized as control of goods is transferred or as services are performed. Contract Liabilities (Deferred Revenue) Contract liabilities are recorded when cash payments are received in advance of the Company’s performance. Deferred revenue was $37,900 and $66,300 at March 31, 2019 and December 31, 2018, respectively. During the three months ended March 31, 2019, the Company recognized revenues of $66,300 related to contact liabilities outstanding at December 31, 2018 as the services were performed. Nature of Goods and Services The Company provides Shippers to its customers and charges a fee in exchange for the use of the Shipper under long-term agreements with customers. The Company’s arrangements convey to the customers the right to use the Shippers over a period of time. The Company retains title to the Shippers and provides its customers the use of the Shipper for a specified shipping cycle. At the culmination of the customer’s shipping cycle, the Shipper is returned to the Company. The vast majority of our revenues are covered under long-term agreements. We have determined that individual Statements of Work (“SOW”), whose terms and conditions taken with a Master Services Agreement (“MSA”), create the Topic 606 contracts which are generally short-term in nature (e.g., 15-day shipping cycle). Our agreements (including SOWs) generally do not have multiple performance obligations and, therefore, do not require an allocation of a single price amongst multiple goods or services. Prices under these agreements are generally fixed. The Company recognizes revenue for the use of the shipper at the time of the delivery of the shipper to the end user of the enclosed materials, and at the time that collectability is probable. The Company also provides logistics support and management to some customers, which may include onsite logistics personnel. Revenue is recognized for these services as services are rendered over time and at the time that collectability is probable. The Company also provides short-term logistics and engineering consulting services to some customers, with fees tied to the completion of contractually defined services. We recognize revenue from these services when we satisfy the performance obligation. Revenue Disaggregation The Company operates in one reportable segment and evaluates financial performance on a Company-wide basis. We consider sales disaggregated by end-market to depict how the nature, amount, timing and uncertainty of revenues and cash flows are impacted by changes in economic factors. The following table disaggregates our revenues by major source for the three months ended March 31, 2019 and 2018: Three Months Ended March 31, (amounts in thousands) 2019 2018 Biopharmaceutical $ 5,640 $ 3,282 Reproductive medicine 784 502 Animal health 229 239 Total revenues $ 6,653 $ 4,023 Our geographical revenues, by origin, for the three months ended March 31, 2019 and 2018, were as follows: Three Months Ended March 31 (amounts in thousands) 2019 2018 Americas $ 6,169 $ 3,495 Europe, the Middle East and Africa (EMEA) 364 368 Asia Pacific (APAC) 120 160 Total revenues $ 6,653 $ 4,023
Accounting for Shipping and Handling Revenue, Fees and Costs	Accounting for Shipping and Handling Revenue, Fees and Costs The Company classifies amounts billed for shipping and handling as revenue. Shipping and handling fees and costs are included in cost of revenues in the accompanying condensed consolidated statements of operations.
Engineering and Development Expenses	Engineering and Development Expenses Expenditures relating to engineering and development are expensed in the period incurred.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based payments in accordance with stock-based payment accounting guidance which requires all stock-based payments to be recognized based upon their fair values. The fair value of stock-based awards is estimated at the grant date using the Black-Scholes Option Pricing Model (“Black-Scholes”) and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period. The determination of fair value using Black-Scholes is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables, including expected stock price volatility, risk-free interest rate, expected dividends and projected employee stock option exercise behaviors. The Company accounts for forfeitures of unvested awards as they occur. The Company’s stock-based compensation plans are discussed further in Note 10.
Basic and Diluted Net Income (Loss) Per Share	Basic and Diluted Net Loss Per Share We calculate basic and diluted net income (loss) per share using the weighted average number of common shares outstanding during the periods presented. In periods of a net loss position, basic and diluted weighted average common shares are the same. For the diluted earnings per share calculation, we adjust the weighted average number of common shares outstanding to include dilutive stock options, warrants and shares associated with the conversion of convertible debt outstanding during the periods. The following shows the amounts used in computing net loss per share for the three months ended March 31: Three Months Ended March 31, 2019 2018 Net loss $ (2,386,902 ) $ (2,682,760 ) Weighted average common shares issued and outstanding - basic and diluted 30,441,996 26,774,179 Basic and diluted net loss per share $ (0.08 ) $ (0.10 ) The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive: Three Months Ended March 31, 2019 2018 Stock options 2,986,999 2,753,544 Warrants 1,155,365 3,261,763 Convertible note 1,372,998 — 5,515,362 6,015,307
Segment Reporting	Segment Reporting We currently operate in one reportable segment and our Chief Executive Officer is the chief operating decision maker.
Foreign Currency Transactions	Foreign Currency Transactions Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of the Netherlands and UK subsidiaries are translated into U.S. dollars at the period-end exchange rates. Income and expenses are translated at an average exchange rate for the period and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The translation gain (loss) adjustment totaled $(10,080) for the three months ended March 31, 2019.
Balance Sheet Arrangements	Balance Sheet Arrangements We do not currently have any off balance sheet arrangements.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2018, the FASB issued ASU 2018-07, “Compensation Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting” which simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, “Compensation-Stock Compensation ” s condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases”, as amended by ASU No. 2018-11, “Leases: Targeted Improvements (ASC 842), which provides for a comprehensive change to lease accounting. The new guidance amends the existing accounting standards for leases to increase transparency and comparability among organizations by requiring the recognition of ROU assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We adopted the standard effective January 1, 2019 using the modified retrospective approach with the effective date as the date of initial application. Consequently, prior period balances and disclosures have not been restated. Also, the Company has implemented additional internal controls to enable future preparation of financial information in accordance with ASC 842. The standard had a material impact on our condensed consolidated balance sheets, which resulted in the recognition of ROU assets of $1.8 million, lease liabilities of $2.1 million for operating leases, while our accounting for finance leases remained substantially unchanged. However, the adoption of the new standard did not materially impact our consolidated results of operations and cash flows. Also, the adoption of ASC 842 did not have an impact on the Company’s beginning accumulated deficit balance. ASC 842 provides a number of optional practical expedients in transition. For leases that commenced prior to January 1, 2019, the Company elected: (1) the “package of practical expedients”, which permits it not to reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs, and (2) the use-of-hindsight in determining the lease term and in assessing impairment of ROU assets. In addition, ASC 842 provides practical expedients for an entity’s ongoing accounting that the Company has elected, comprised of the following: (1) the election for classes of underlying asset to not separate non-lease components from lease components, and (2) the election for short-term lease recognition exemption for all leases that qualify. For additional information regarding the Company’s leases, see Note 8.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table disaggregates our revenues by major source for the three months ended March 31, 2019 and 2018: Three Months Ended March 31, (amounts in thousands) 2019 2018 Biopharmaceutical $ 5,640 $ 3,282 Reproductive medicine 784 502 Animal health 229 239 Total revenues $ 6,653 $ 4,023
Revenue from External Customers by Geographic Areas [Table Text Block]	Our geographical revenues, by origin, for the three months ended March 31, 2019 and 2018, were as follows: Three Months Ended March 31 (amounts in thousands) 2019 2018 Americas $ 6,169 $ 3,495 Europe, the Middle East and Africa (EMEA) 364 368 Asia Pacific (APAC) 120 160 Total revenues $ 6,653 $ 4,023
Schedule of Earnings Per Share	The following shows the amounts used in computing net loss per share for the three months ended March 31: Three Months Ended March 31, 2019 2018 Net loss $ (2,386,902 ) $ (2,682,760 ) Weighted average common shares issued and outstanding - basic and diluted 30,441,996 26,774,179 Basic and diluted net loss per share $ (0.08 ) $ (0.10 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive: Three Months Ended March 31, 2019 2018 Stock options 2,986,999 2,753,544 Warrants 1,155,365 3,261,763 Convertible note 1,372,998 — 5,515,362 6,015,307

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash, Cash Equivalents and Investments	Cash, cash equivalents and short-term investments consisted of the following as of March 31, 2019 and December 31, 2018: March 31, December 31, Cash $ 32,149,195 $ 37,223,698 Cash equivalents: Money market mutual fund 622,791 103,427 Total cash and cash equivalents 32,771,986 37,327,125 Short-term investments: U.S. Treasury notes and bills 11,454,106 7,925,975 Mutual funds 3,046,642 2,004,993 Total short-term investments 14,500,748 9,930,968 Cash, cash equivalents and short-term investments $ 47,272,734 $ 47,258,093
Available-for-sale Securities	The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at March 31, 2019 were as follows: Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Treasury bills $ 2,454,675 $ 32,185 $ — $ 2,486,860 U.S. Treasury notes 8,948,075 20,820 (1,649 ) 8,967,246 Total available-for-sale investments $ 11,402,750 $ 53,005 $ (1,649 ) $ 11,454,106 The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments by type of security at December 31, 2018 were as follows: Amortized Unrealized Unrealized Fair Value U.S. Treasury bills $ 2,948,777 $ 19,523 $ — $ 2,968,300 U.S. Treasury notes 4,953,616 4,059 — 4,957,675 Total available-for-sale investments $ 7,902,393 $ 23,582 $ — $ 7,925,975
Investments Classified by Contractual Maturity Date	The following table summarizes the fair value of available-for-sale investments based on stated contractual maturities as of March 31, 2019: Amortized Cost Fair Value Due within one year $ 8,407,226 $ 8,459,616 Due between one and two years 2,995,524 2,994,490 Total $ 11,402,750 $ 11,454,106
Unrealized Gain (Loss) on Investments	Unrealized gains (losses) during 2019 related to equity securities held at March 31, 2019 are as follows: Net gains recognized during the three months on equity securities $ 31,545 Less: net gains (losses) recognized during the year on equity securities sold during the three months — Unrealized gains recognized during the three months on equity securities still held at March 31, 2019 $ 31,545

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The carrying values of our assets that are required to be measured at fair value on a recurring basis as of March 31, 2019 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above: Fair Value Measurements Level 1 Level 2 Level 3 Total March 31, 2019 Cash equivalents: Money market mutual fund $ 622,791 $ — $ — $ 622,791 Marketable equity securities: Mutual funds 3,046,642 — — 3,046,642 Available-for-sale debt securities: U.S. Treasury notes 2,486,860 — — 2,486,860 U.S. Treasury bills 8,967,246 — — 8,967,246 $ 15,123,539 $ — $ — $ 15,123,539

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Components Of Lease Expense	The components of lease cost were as follows: Three Months Ended March 31, 2019 Operating lease cost $ 124,100 Finance lease cost: Amortization of right-of-use assets $ 2,500 Interest on finance lease liabilities 807 3,307 Total lease cost $ 127,407
Other Information Related To Leases	Other information related to leases was as follows: Three Months Ended Supplemental Cash Flows Information March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 133,000 Operating cash flows from finance leases $ 807 Financing cash flows from finance leases $ 5,700 Right-of-use assets obtained in exchange for lease obligations: Operating leases Finance leases $ 21,100 $ — Weighted-Average Remaining Lease Term Operating leases 4.4 years Finance leases 2.1 years Weighted-Average Discount Rate Operating leases 8.3 % Finance leases 6.0 %
Schedule Of Future Minimum Operating And Finance Lease Payments Under Non Cancellable Leases [Table Text Block]	Future minimum lease payments under non-cancellable leases as of March 31, 2019 were as follows: Years Ending December 31, Operating Finance 2019 (excluding the three months ended March 31, 2019) $ 406,256 $ 19,455 2020 552,601 25,940 2021 552,970 8,647 2022 556,359 — 2023 218,632 — Thereafter 132,982 — Total future minimum lease payments 2,419,800 54,042 Less imputed interest (407,827 ) (3,373 ) Total $ 2,011,973 $ 50,669 Reported as of March 31, 2019 Operating Finance Current lease liabilities $ 390,790 $ 23,531 Noncurrent lease liabilities 1,621,183 27,138 Total $ 2,011,973 $ 50,669
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The future minimum obligations under operating and capital leases in effect as of December 31, 2018 having a noncancelable term in excess of one year as determined prior to the adoption of ASC 842 are as follows: Years Ending December 31, Operating Capital 2019 $ 525,592 $ 25,940 2020 537,742 25,940 2021 538,893 8,647 2022 542,790 — 2023 198,219 — Thereafter 109,773 — Total minimum lease payments $ 2,453,009 60,527 Amount representing interest at 6% (4,180 ) Present value of future minimum capital lease obligations 56,347 Current portion (23,191 ) $ 33,156

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Reserved for Future Issuance	As of March 31, 2019, approximately 7.5 million shares of common stock were issuable upon conversion or exercise of rights granted under prior financing arrangements, stock options and warrants, as follows: Exercise of stock options 5,738,313 Exercise of warrants 1,789,260 Total shares of common stock reserved for future issuances 7,527,573

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Warrant Activity	A summary of warrant activity is as follows: Number of Shares Weighted- Average Exercise Price/Share Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding — December 31, 2018 2,049,534 $ 4.03 Issued — — Exercised (237,225 ) 4.22 Expired (23,049 ) 11.95 Outstanding — March 31, 2019 1,789,260 $ 3.91 1.3 $ 16,223,500 Vested (exercisable) — March 31, 2019 1,789,260 $ 3.91 1.3 $ 16,223,500
Schedule of Fair Value Assumptions of Stock Options	The fair value of each option grant was estimated on the date of grant using Black-Scholes with the following weighted average assumptions: Expected life (years) 5.7 – 6.2 Risk-free interest rate 2.4% - 2.6% Volatility 94% – 99% Dividend yield 0%
Schedule of Share-based Payment Awards	Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following: Three Months Ended March 31, Three Months Ended March 31, 2019 2018 Cost of revenues $ 62,753 $ 35,457 General and administrative 940,139 727,723 Sales and marketing 339,075 229,565 Engineering and development 71,768 56,765 $ 1,413,735 $ 1,049,510
Schedule of Stock Option Activity	A summary of stock option activity is as follows: Number of Shares Weighted- Average Exercise Price/Share Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (1) Outstanding — December 31, 2018 5,757,305 $ 5.16 Granted (weighted-average fair value of $7.20 per share) 154,650 9.27 Exercised (119,918 ) 3.12 Forfeited (53,724 ) 10.85 Outstanding — March 31, 2019 5,738,313 $ 5.26 7.0 $ 44,101,200 Vested (exercisable) — March 31, 2019 3,998,833 $ 4.67 6.4 $ 33,026,000 Expected to vest after March 31, 2019 (unexercisable) 1,739,480 $ 6.61 8.4 $ 11,075,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Disaggregates Our Revenues by Major Source) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue Recognition [Line Items]
Revenues	$ 6,652,912	$ 4,023,189
Biopharmaceutical [Member]
Revenue Recognition [Line Items]
Revenues	5,640,000	3,282,000
Reproductive Medicine [Member]
Revenue Recognition [Line Items]
Revenues	784,000	502,000
Animal Health [Member]
Revenue Recognition [Line Items]
Revenues	$ 229,000	$ 239,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Disaggregation our Geographical Revenues, by Origin) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 6,652,912	$ 4,023,189
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	6,169,000	3,495,000
Europe, the Middle East and Africa (EMEA) [Member]
Disaggregation of Revenue [Line Items]
Revenues	364,000	368,000
Asia Pacific (APAC) [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 120,000	$ 160,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Schedule of Earnings Per Share) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net loss	$ (2,386,902)	$ (2,682,760)
Weighted average common shares outstanding - basic and diluted	30,441,996	26,774,179
Basic and diluted net loss per share	$ (0.08)	$ (0.10)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Schedule of Antidilutive Shares) (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,515,362	6,015,307
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,986,999	2,753,544
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,155,365	3,261,763
Convertible note [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,372,998	0

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Significant Accounting Policies Additional Information [Line Items]
Allowance for doubtful accounts receivable	$ 100,000		$ 100,000
Revenues	$ 6,652,912	$ 4,023,189
Maturity Period Of Highly Liquid Investments	90 days
Property Plant Equipment Ownership Percentage	39.00%		34.00%
Foreign Currency Transaction Gain (Loss), before Tax	$ (10,080)
Operating Lease, Liability	2,011,973
Operating Lease, Right-of-Use Asset	1,711,727		$ 0
Deferred Revenue, Current	37,918		$ 66,315
Deferred Rent Credit	308,600
Foreign Customers [Member]
Significant Accounting Policies Additional Information [Line Items]
Revenues	$ 483,800	$ 528,200
Accounts Receivable [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	10.00%		10.00%
Accounts Receivable [Member] | Customer One [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	31.20%		29.00%
Accounts Receivable [Member] | Customer Two [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	22.90%		23.40%
Sales Revenue, Net [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	10.00%	10.00%
Sales Revenue, Net [Member] | Customer One [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	24.70%
Sales Revenue, Net [Member] | Foreign Customers [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	7.80%	13.10%
Sales Revenue, Net [Member] | Customer Two [Member]
Significant Accounting Policies Additional Information [Line Items]
Concentration risk, percentage	10.60%

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Line Items]
Cash	$ 32,149,195	$ 37,223,698
Cash equivalents:
Money market mutual fund	622,791	103,427
Total cash and cash equivalents	32,771,986	37,327,125	$ 18,993,994	$ 15,042,189
Short-term investments:
Total short-term investments	14,500,748	9,930,968
Cash, cash equivalents and short-term investments	47,272,734	47,258,093
U.S. Treasury notes and bills [Member]
Short-term investments:
Short-term Investments	11,454,106	7,925,975
Mutual Funds [Member]
Short-term investments:
Short-term Investments	$ 3,046,642	$ 2,004,993

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments (Details 1) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost	$ 11,402,750	$ 7,902,393
Unrealized Gains	53,005	23,582
Unrealized Losses	(1,649)	0
Fair Value	11,454,106	7,925,975
US Treasury Bill Securities [Member]
Amortized Cost	2,454,675	2,948,777
Unrealized Gains	32,185	19,523
Unrealized Losses	0	0
Fair Value	2,486,860	2,968,300
US Treasury Notes Securities [Member]
Amortized Cost	8,948,075	4,953,616
Unrealized Gains	20,820	4,059
Unrealized Losses	(1,649)	0
Fair Value	$ 8,967,246	$ 4,957,675

Cash, Cash Equivalents and Sh_5

Cash, Cash Equivalents and Short-Term Investments (Details 2) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Line Items]
Due within one year, Amortized Cost	$ 8,407,226
Due between one and two years, Amortized Cost	2,995,524
Total, Amortized Cost	11,402,750	$ 7,902,393
Due within one year, Estimated Fair Value	8,459,616
Due between one and two years, Estimated Fair Value	2,994,490
Available-for-sale Securities	$ 11,454,106	$ 7,925,975

Cash, Cash Equivalents and Sh_6

Cash, Cash Equivalents and Short-Term Investments (Details 3)	3 Months Ended
	Mar. 31, 2019USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Net gains recognized during the three months on equity securities	$ 31,545
Less: net gains (losses) recognized during the year on equity securities sold during the three months	0
Unrealized gains recognized during the three months on equity securities still held at March 31, 2019	$ 31,545

Cash, Cash Equivalents and Sh_7

Cash, Cash Equivalents and Short-Term Investments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Equity Securities, FV-NI	$ 3,000,000
Available-for-sale Securities, Gross Realized Gains	$ 5,900

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Fair Value Hierarchy) (Details) - Fair Value, Measurements, Recurring [Member]	Mar. 31, 2019USD ($)
Assets, Fair Value Disclosure	$ 15,123,539
Mutual funds
Assets, Fair Value Disclosure	3,046,642
U.S. Treasury notes
Assets, Fair Value Disclosure	2,486,860
U.S. Treasury bills
Assets, Fair Value Disclosure	8,967,246
Money market mutual fund
Assets, Fair Value Disclosure	622,791
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure	15,123,539
Fair Value, Inputs, Level 1 [Member] | Mutual funds
Assets, Fair Value Disclosure	3,046,642
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury notes
Assets, Fair Value Disclosure	2,486,860
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury bills
Assets, Fair Value Disclosure	8,967,246
Fair Value, Inputs, Level 1 [Member] | Money market mutual fund
Assets, Fair Value Disclosure	622,791
Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 2 [Member] | Mutual funds
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 2 [Member] | U.S. Treasury notes
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 2 [Member] | U.S. Treasury bills
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 2 [Member] | Money market mutual fund
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member] | Mutual funds
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member] | U.S. Treasury notes
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member] | U.S. Treasury bills
Assets, Fair Value Disclosure	0
Fair Value, Inputs, Level 3 [Member] | Money market mutual fund
Assets, Fair Value Disclosure	$ 0

Convertible Note (Narrative) (D

Convertible Note (Narrative) (Details) - USD ($)	Dec. 14, 2020	Dec. 13, 2020	Dec. 14, 2019	Dec. 14, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 14, 2021	Dec. 31, 2018
Common Stock, Shares, Issued				1,000,000	30,677,500			30,319,038
Common Stock, Par or Stated Value Per Share				$ 0.001	$ 0.001			$ 0.001
Shares Issued, Price Per Share				$ 10
Debt Instrument, Redemption Price, Percentage	106.00%	109.00%	112.00%
Debt Issuance Costs, Net					$ 480,000
Debt Instrument, Convertible, Remaining Discount Amortization Period					5 years
Interest expense					$ (338,728)	$ 0
Note Maturity Date					Dec. 14, 2023
Petrichor Opportunities Fund [Member]
Debt Instrument, Fee Amount				$ 250,000
Convertible Debt [Member]
Stock Issued During Period, Value, Conversion of Convertible Securities				$ 15,000,000
Common Stock, Convertible, Conversion Price, Increase					$ 13.11
Debt Instrument, Convertible, Conversion Price							$ 17.48

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)ft²
Irvine, California Facility [Member]
Property Subject to or Available for Operating Lease [Line Items]
Estimated Base Rent Under Lease | $	$ 24,700
Lease Expiration Date	Feb. 1, 2023
Land Subject to Ground Leases | ft²	27,600
Livingston [Member]
Property Subject to or Available for Operating Lease [Line Items]
Estimated Base Rent Under Lease | $	$ 7,600
Lease Expiration Date	Dec. 1, 2024
Land Subject to Ground Leases | ft²	8,100
Hoofddorp [Member]
Property Subject to or Available for Operating Lease [Line Items]
Estimated Base Rent Under Lease | $	$ 5,400
Lease Expiration Date	May 1, 2023
Land Subject to Ground Leases | ft²	7,600

Leases (Components Of Lease Exp

Leases (Components Of Lease Expense) (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Operating lease cost	$ 124,100
Finance lease cost:
Amortization of right-of-use assets	2,500	$ 71,000
Interest on finance lease liabilities	807
Total finance lease cost	3,307
Total lease cost	$ 127,407

Leases (Supplemental Cash Flows

Leases (Supplemental Cash Flows Information) (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 133,000
Operating cash flows from finance leases	807
Financing cash flows from finance leases	5,700
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	21,100
Finance leases	$ 0
Weighted Average Remaining Lease Term
Operating leases	4 years 4 months 24 days
Finance leases	2 years 1 month 6 days
Weighted Average Discount Rate
Operating leases	8.30%
Finance leases	6.00%

Leases (Payments under non-canc

Leases (Payments under non-cancellable leases) (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Operating Leases
2019 (excluding the three months ended March 31, 2019)	$ 406,256
2020	552,601
2021	552,970
2022	556,359
2023	218,632
Thereafter	132,982
Total future minimum lease payments	2,419,800
Less imputed interest	(407,827)
Current lease liabilities	390,790	$ 0
Noncurrent lease liabilities	1,621,183	0
Total	2,011,973
Finance Leases
2019 (excluding the three months ended March 31, 2019)	19,455
2020	25,940
2021	8,647
2022	0
2023	0
Thereafter	0
Total future minimum lease payments	54,042
Less imputed interest	(3,373)
Current lease liabilities	23,531	23,191
Noncurrent lease liabilities	27,138	$ 33,156
Total	$ 50,669

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Lease Payments) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Operating Leases
2019	$ 525,592
2020	537,742
2021	538,893
2022	542,790
2023	198,219
Thereafter	109,773
Total minimum lease payments	2,453,009
Capital Leases
2019	25,940
2020	25,940
2021	8,647
2022	0
2023	0
Thereafter	0
Total minimum lease payments	60,527
Amount representing interest at 6%	(4,180)
Present value of future minimum capital lease obligations	56,347
Current portion	(23,191)
Capital Lease Obligations	$ 33,156

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Lessee Option to Extend	5 years
Finance Lease, Right-of-Use Asset	$ 2,500	$ 71,000
Finance Lease RightofUse Asset Accumulated Depreciation	$ 15,200	$ 6,800
Minimum [Member]
Lease Weighted Average Remaining Lease Term	2 years
Maximum [Member]
Lease Weighted Average Remaining Lease Term	6 years

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Common Stock Reserved for Future Issuance) (Details)	Mar. 31, 2019shares
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	7,527,573
Exercise Of Stock Options [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	5,738,313
Exercise Of Warrants [Member]
Class of Stock [Line Items]
Common Stock Reserved for Future Issuance	1,789,260

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	Feb. 08, 2018	Aug. 24, 2018	Feb. 28, 2018	Jan. 30, 2016	Jul. 31, 2015	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 14, 2018	Feb. 02, 2018
Class of Stock [Line Items]
Common stock, shares authorized						100,000,000		100,000,000
Common stock, par value						$ 0.001		$ 0.001	$ 0.001
Preferred stock, par value						$ 0.001		$ 0.001
Preferred stock, shares authorized						2,500,000		2,500,000
Stock Issued During Period, Value, Issued for Services						$ 17,500	$ 17,500
Common Stock, Capital Shares Reserved for Future Issuance						7,527,573
Stock Issued During Period, Shares, Conversion of Convertible Securities				4,977,038
Class Of Warrant Or Right Number Of Warrants Exercised	1,580,388
Proceeds from Warrant Exercises						$ 1,315,846	$ 658,544
Class Of Warrant Or Right Exercisable Terms						The terms of the New Warrants included (i) an exercise price of $3.00 per share and (ii) an exercise period that expired concurrently with the expiration of the Offer at 5:00 p.m. (Eastern Time) on February 2, 2018 (the “Expiration Date”). In addition, the shares issuable upon exercise of the New Warrants (the “New Warrant Shares”) were subject to a 60-day lock-up period.
Common Stock, Shares, Issued						30,677,500		30,319,038	1,000,000
Sales Agreement [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues								248,839
Director [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services						1,319	1,938
Original Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	3.57
Number Of Warrants Issued					2,090,750
Supplemental Warrants [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights										3
Class of Warrant or Right, Exercise Price of Warrants or Rights										$ 3
Tender Offer [Member]
Class of Stock [Line Items]
Induced Conversion of Convertible Debt Expense			$ 899,400
Payments of Stock Issuance Costs								$ 99,400
Tender Offer [Member] | Amended [Member]
Class of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,580,388
Proceeds from Warrant Exercises	$ 4,700,000
Jefferies [Member]
Class of Stock [Line Items]
Sale Of Stock Market Offering Price		$ 35,000,000
Maximum [Member]
Class of Stock [Line Items]
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger						120.00%
Class A convertible preferred stock [Member]
Class of Stock [Line Items]
Preferred stock, par value						$ 0.001		$ 0.001
Preferred stock, shares authorized						800,000		800,000
Class B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized						585,000

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Warrant Activity) (Details) - Warrants [Member]	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Number of Shares
Outstanding | shares	2,049,534
Issued | shares	0
Exercised | shares	(237,225)
Expired | shares	(23,049)
Outstanding | shares	1,789,260
Vested (exercisable) | shares	1,789,260
Weighted-Average Exercise Price/Share
Outstanding | $ / shares	$ 4.03
Issued | $ / shares	0
Exercised | $ / shares	4.22
Expired | $ / shares	11.95
Outstanding | $ / shares	3.91
Vested (exercisable) | $ / shares	$ 3.91
Weighted-Average Remaining Contractual Term (Years)
Outstanding	1 year 3 months 18 days
Vested (exercisable)	1 year 3 months 18 days
Aggregated Intrinsic Value
Outstanding | $	$ 16,223,500
Vested (exercisable) | $	$ 16,223,500

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Assumptions Used to Estimate Fair Value of Stock Options) (Details)	3 Months Ended
	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	2.40%
Risk-free interest rate, maximum	2.60%
Volatility, minimum	94.00%
Volatility, maximum	99.00%
Dividend yield	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	5 years 8 months 12 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 years 2 months 12 days

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation	$ 1,413,735	$ 1,049,510
Cost of Revenues [Member]
Share-based Compensation	62,753	35,457
General and Administrative Expense [Member]
Share-based Compensation	940,139	727,723
Selling and Marketing Expense [Member]
Share-based Compensation	339,075	229,565
Engineering And Development [Member]
Share-based Compensation	$ 71,768	$ 56,765

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Stock Option Activity) (Details) - Stock Options [Member]	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Number of Shares
Outstanding | shares	5,757,305
Issued | shares	154,650
Exercised | shares	(119,918)
Forfeited | shares	(53,724)
Outstanding | shares	5,738,313
Vested (exercisable) | shares	3,998,833
Expected to vest after (unexercisable) | shares	1,739,480
Weighted-Average Exercise Price/Share
Outstanding | $ / shares	$ 5.16
Granted | $ / shares	9.27
Exercised | $ / shares	3.12
Forfeited | $ / shares	10.85
Outstanding | $ / shares	5.26
Vested (exercisable) | $ / shares	4.67
Expected to vest after (unexercisable) | $ / shares	$ 6.61
Weighted-Average Remaining Contractual Term (Years)
Outstanding	7 years
Vested (exercisable)	6 years 4 months 24 days
Expected to vest after (unexercisable)	8 years 4 months 24 days
Aggregated Intrinsic Value
Outstanding | $	$ 44,101,200
Vested (exercisable) | $	33,026,000
Expected to vest after (unexercisable) | $	$ 11,075,200

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Mar. 29, 2019	Mar. 31, 2019	May 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value		$ 1
Warrants Exercised Intrinsic Value		$ 1.6
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value per share	$ 12.92	$ 12.92
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock options		$ 8.7
Weighted average recognition period		2 years 8 months 12 days
Plan 2018 [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares available for future grant		4,019,728	3,730,179