Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'FLDM | ' |
Entity Registrant Name | 'FLUIDIGM CORP | ' |
Entity Central Index Key | '0001162194 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 25,613,547 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $20,099 | $58,649 |
Short-term investments | 43,580 | 21,362 |
Accounts receivable (net of allowances of $32 and $448 at September 30, 2013 and December 31, 2012, respectively) | 12,413 | 12,900 |
Inventories | 8,021 | 7,169 |
Prepaid expenses and other current assets | 2,545 | 1,131 |
Total current assets | 86,658 | 101,211 |
Long-term investments | 19,140 | 3,666 |
Property and equipment, net | 5,155 | 4,974 |
Other non-current assets | 3,288 | 3,881 |
Total assets | 114,241 | 113,732 |
Current liabilities: | ' | ' |
Accounts payable | 3,406 | 2,555 |
Accrued compensation and related benefits | 3,713 | 2,877 |
Other accrued liabilities | 5,117 | 4,279 |
Deferred revenue, current portion | 2,807 | 1,886 |
Total current liabilities | 15,043 | 11,597 |
Deferred revenue, net of current portion | 1,824 | 1,241 |
Other non-current liabilities | 362 | 237 |
Total liabilities | 17,229 | 13,075 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.001 par value, 10,000 shares authorized, no shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 0 | 0 |
Common stock: $0.001 par value, 200,000 shares authorized at September 30, 2013 and December 31, 2012; 25,591 and 25,115 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively | 26 | 25 |
Additional paid-in capital | 350,403 | 342,222 |
Accumulated other comprehensive loss | -713 | -769 |
Accumulated deficit | -252,704 | -240,821 |
Total stockholders’ equity | 97,012 | 100,657 |
Total liabilities and stockholders’ equity | $114,241 | $113,732 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowances | $32 | $448 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 25,591,000 | 25,115,000 |
Common stock, shares outstanding | 25,591,000 | 25,115,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue: | ' | ' | ' | ' |
Product revenue | $18,045 | $12,602 | $49,566 | $36,126 |
License revenue | 78 | 15 | 242 | 53 |
Grant revenue | 164 | 165 | 494 | 496 |
Total revenue | 18,287 | 12,782 | 50,302 | 36,675 |
Costs and expenses: | ' | ' | ' | ' |
Cost of product revenue | 5,138 | 3,518 | 14,273 | 10,990 |
Research and development | 5,004 | 4,071 | 14,198 | 12,337 |
Selling, general and administrative | 12,097 | 9,102 | 34,840 | 27,926 |
Litigation settlement | 1,000 | 0 | 1,000 | 0 |
Total costs and expenses | 23,239 | 16,691 | 64,311 | 51,253 |
Loss from operations | -4,952 | -3,909 | -14,009 | -14,578 |
Gain from sale of investment in Verinata | 0 | 0 | 1,777 | 0 |
Interest expense | -1 | -107 | -13 | -616 |
Other income (expense), net | 709 | -75 | 457 | -127 |
Loss before income taxes | -4,244 | -4,091 | -11,788 | -15,321 |
Provision for income taxes | -42 | -61 | -95 | -101 |
Net loss | -4,286 | -4,152 | -11,883 | -15,422 |
Net loss per share, basic and diluted | ($0.17) | ($0.18) | ($0.47) | ($0.73) |
Shares used in computing net loss per share, basic and diluted | 25,534 | 22,544 | 25,407 | 21,161 |
Comprehensive loss | ($4,204) | ($4,144) | ($11,827) | ($15,442) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | ' | ' |
Net loss | ($11,883) | ($15,422) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 1,850 | 1,592 |
Stock-based compensation expense | 4,681 | 3,047 |
Gain from sale of investment in Verinata | -1,777 | 0 |
Other non-cash items | 29 | 26 |
Changes in assets and liabilities: | ' | ' |
Accounts receivable | 572 | -1,451 |
Inventories | -1,344 | -1,553 |
Prepaid expenses and other assets | -1,411 | -175 |
Accounts payable | 1,150 | -978 |
Deferred revenue | 1,652 | 502 |
Other liabilities | 1,652 | 433 |
Net cash used in operating activities | -4,829 | -13,979 |
Investing activities | ' | ' |
Purchases of investments | -56,831 | -27,705 |
Proceeds from sales and maturities of investments | 19,140 | 45,770 |
Proceeds from sale of investment in Verinata | 3,117 | 0 |
Purchase of intangible assets | -1,043 | 0 |
Purchases of property and equipment | -1,565 | -1,621 |
Net cash (used in) provided by investing activities | -37,182 | 16,444 |
Financing activities | ' | ' |
Proceeds from issuance of common stock, net of issuance costs | 0 | 56,143 |
Proceeds from exercise of stock options | 3,501 | 2,125 |
Repayment of long-term debt | 0 | -10,190 |
Proceeds from line of credit | 0 | 1,875 |
Net cash provided by financing activities | 3,501 | 49,953 |
Effect of foreign exchange rate fluctuations on cash and cash equivalents | -40 | 40 |
Net (decrease) increase in cash and cash equivalents | -38,550 | 52,458 |
Cash and cash equivalents at beginning of period | 58,649 | 13,553 |
Cash and cash equivalents at end of period | $20,099 | $66,011 |
Description_of_Business_Notes
Description of Business (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Description of Business | ' |
Description of Business | |
Fluidigm Corporation (we, our, or us) was incorporated in the State of California in May 1999 to commercialize microfluidic technology initially developed at the California Institute of Technology. In July 2007, we were reincorporated in Delaware. Our headquarters are located in South San Francisco, California. We develop, manufacture, and market microfluidic systems to academic institutions, clinical laboratories, and pharmaceutical, biotechnology, and agricultural biotechnology (Ag-Bio) companies in growth markets, such as single-cell genomics, applied genotyping, and sample preparation for targeted resequencing. Our proprietary microfluidic systems consist of instruments and consumables, including integrated fluidic circuits (IFCs) for nucleic acid analysis, and three families of assay chemistries. These systems are designed to simplify experimental workflow, increase throughput, reduce costs, and provide quality data. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||||||
Summary of Significant Accounting Policies | |||||||||||||||||
Basis of Presentation | |||||||||||||||||
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and following the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of December 31, 2012 has been derived from audited consolidated financial statements at that date but does not include all of the information required by U.S. GAAP for complete financial statements. These financial statements have been prepared on the same basis as our annual financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for a fair presentation of our financial information. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013 or for any other interim period or for any other future year. | |||||||||||||||||
The preparation of these condensed consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. On an ongoing basis, we evaluate our estimates, including critical accounting policies or estimates related to revenue recognition, income tax provisions, stock-based compensation, inventory valuation, and allowances for doubtful accounts. We base our estimates on historical experience and on various relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ significantly from these estimates. | |||||||||||||||||
The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2012 included in our Annual Report on Form 10-K filed with the SEC. | |||||||||||||||||
Reclassifications | |||||||||||||||||
Certain items previously reported in the condensed consolidated statement of cash flows have been reclassified to conform to the current period presentation. Such reclassifications do not impact previously reported net cash used in operating activities, net cash provided by investing activities, net cash used in financing activities, or the net decrease in cash and cash equivalents. | |||||||||||||||||
Secondary Offering | |||||||||||||||||
On August 21, 2012, we closed an underwritten public offering of 4,209,000 shares of our common stock and received cash proceeds of approximately $56.1 million, net of underwriting discounts, commissions and offering expenses. The shares were issued pursuant to a registration statement on Form S-3 declared effective by the SEC on May 10, 2012. | |||||||||||||||||
Net Loss per Share | |||||||||||||||||
Our basic and diluted net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding for the period. Our options to purchase common stock are considered to be potentially dilutive common shares but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. | |||||||||||||||||
The following potentially dilutive common shares were excluded from the computation of diluted net loss per share for the interim periods presented because including them would have been anti-dilutive (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Options to purchase common stock | 3,631 | 3,013 | 3,631 | 3,013 | |||||||||||||
Comprehensive Loss | |||||||||||||||||
The following is a summary of comprehensive loss (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net loss | $ | (4,286 | ) | $ | (4,152 | ) | $ | (11,883 | ) | $ | (15,422 | ) | |||||
Other comprehensive (loss) income | 82 | 8 | 56 | (20 | ) | ||||||||||||
Comprehensive loss | $ | (4,204 | ) | $ | (4,144 | ) | $ | (11,827 | ) | $ | (15,442 | ) | |||||
Comprehensive loss is comprised of net loss, unrealized gains and losses on our investments, and foreign currency translation adjustments. | |||||||||||||||||
Investment, at Cost | |||||||||||||||||
At December 31, 2012, we had a minority equity investment in Verinata Health, Inc. (Verinata), a privately-held company, that was included in other non-current assets and accounted for under the cost method of accounting. Under the cost method of accounting, the investment was carried at cost and adjusted only for other than temporary declines in value. No such declines were identified and the carrying value of the investment at December 31, 2012 was $1.3 million. | |||||||||||||||||
In February 2013, Illumina, Inc. acquired Verinata for $350 million in cash and up to an additional $100 million in milestone payments through 2015. In March 2013, we received cash proceeds of $3.1 million in exchange for our ownership interest in Verinata, resulting in a gain of $1.8 million. If the milestone payments become payable in the future, we could receive up to $3.2 million in additional proceeds. | |||||||||||||||||
Intangible Assets Acquisition | |||||||||||||||||
On June 28, 2013, we acquired certain patents, patent applications, and licenses from Helicos Biosciences Corporation (Helicos) relating to Helicos’ next-generation sequencing technology. The rights acquired by us are subject to certain licenses and sublicenses granted by Helicos prior to or contemporaneously with our acquisition. The assets were acquired for $1.0 million and, as of September 30, 2013, we had incurred transaction costs of approximately $0.3 million. The patents, patent applications, and licenses have an alternative future use and, as a result, the acquired assets and transaction costs are capitalized as intangible assets and are included in other non-current assets. The acquired assets will be amortized to research and development expense over their useful life of ten years. | |||||||||||||||||
Legal Matters | |||||||||||||||||
From time to time, we may be subject to various legal proceedings and claims arising in the ordinary course of business. We assess contingencies to determine the degree of probability and range of possible loss for potential accrual in our financial statements. An estimated loss contingency is accrued in the financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. | |||||||||||||||||
Pursuant to the terms of a patent cross license agreement with Applied Biosystems, LLC (now part of Life Technologies Corporation, or Life), we are obligated to make a $1.0 million payment to Life upon satisfaction of certain conditions. We do not believe that the conditions triggering the payment obligation have been met; however, on October 16, 2013, Life provided notice that the $1.0 million payment is due and payable under the license agreement. We intend to dispute Life’s claim to the contingent payment, but it is probable that we will make the payment while reserving our rights to dispute the obligation. Among other reasons, we would make the payment to avoid what would be, in our view, an improper termination of our license to certain Life patent filings under the agreement, which could subject our relevant product lines to risks associated with patent infringement litigation. As we believe that making the disputed payment is probable, we accrued a loss contingency of $1.0 million in the three months ended September 30, 2013. | |||||||||||||||||
On November 6, 2012, we filed a complaint against NanoString Technologies, Inc., or NanoString, in the United States District Court in the Northern District of California (Civil Action No. 12-5712), alleging claims of false advertising, unfair competition, and unlawful trade practice in violation of the Lanham Act and corresponding sections of the California Business & Professions Code. Our complaint sought to enjoin NanoString from continuing to make or disseminate any of the false and misleading claims, misrepresenting and/or exaggerating the performance of its product in comparison with our BioMark System, to require NanoString to retract, remove, or correct the false and misleading advertising claims, and to recover damages and other relief for harm caused to us by NanoString. In addition, we filed a lawsuit on April 5, 2013 in Singapore against NanoString alleging malicious falsehood in advertising and trademark infringement. On September 30, 2013, we and NanoString agreed to settle the lawsuits. The terms of the settlement require NanoString to, among other things, pay us $0.6 million, remove all references - from its marketing materials, website, and promotional activities - to a single-cell comparison study comparing Fluidigm and NanoString single-cell products, as well as recall and destroy all materials related to and/or based on the study. The case brought in the United States District Court in the Northern District of California was dismissed on October 22, 2013, and the case brought in Singapore was discontinued on October 29, 2013. | |||||||||||||||||
Recent Accounting Pronouncement | |||||||||||||||||
In June 2013, the Financial Accounting Standards Board ratified Emerging Issues Task Force (EITF) Issue 13-C, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” which concludes an unrecognized tax benefit should be presented as a reduction of a deferred tax asset when settlement in this manner is available under the tax law. This guidance is effective for our interim and annual periods beginning January 1, 2014. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements. |
Inventories_Notes
Inventories (Notes) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
Inventories | |||||||||
Inventories consist of the following (in thousands): | |||||||||
September 30, 2013 | December 31, | ||||||||
2012 | |||||||||
Raw materials | $ | 2,536 | $ | 2,846 | |||||
Work-in-process | 1,803 | 1,369 | |||||||
Finished goods | 3,682 | 2,954 | |||||||
$ | 8,021 | $ | 7,169 | ||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments (Notes) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||
As a basis for considering fair value, we follow a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: | |||||||||||||||||||||||||||||||||
Level I: observable inputs such as quoted prices in active markets; | |||||||||||||||||||||||||||||||||
Level II: inputs other than quoted prices in active markets that are observable either directly or indirectly; and | |||||||||||||||||||||||||||||||||
Level III: unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions. | |||||||||||||||||||||||||||||||||
Our cash equivalents are classified as Level I because they are valued using quoted market prices. Our U.S. government and agency securities are classified as Level II because the inputs to these valuations are derived from or corroborated by observable market data. Depending on the security, the income and market approaches are used in the model driven valuations. Inputs into these models include recently executed transaction prices for our investment securities or the securities of comparable issuers and yield curves. | |||||||||||||||||||||||||||||||||
The following table sets forth our financial instruments that were measured at fair value by level within the fair value hierarchy (in thousands): | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Level I | Level II | Level III | Total | Level I | Level II | Level III | Total | ||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Money market funds | $ | 5,802 | $ | — | $ | — | $ | 5,802 | $ | 17 | $ | — | $ | — | $ | 17 | |||||||||||||||||
U.S. government and agency securities | — | 62,720 | — | 62,720 | — | 26,579 | — | 26,579 | |||||||||||||||||||||||||
Total assets measured at fair value | $ | 5,802 | $ | 62,720 | $ | — | $ | 68,522 | $ | 17 | $ | 26,579 | $ | — | $ | 26,596 | |||||||||||||||||
The following is a summary of our U.S. government and agency securities at September 30, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gain | Loss | ||||||||||||||||||||||||||||||||
U.S. government and agency securities | $ | 62,693 | $ | 30 | $ | (3 | ) | $ | 62,720 | ||||||||||||||||||||||||
The contractual maturity dates of $43.6 million of our U.S. government and agency securities are within one year from September 30, 2013. The contractual maturity dates of our remaining U.S. government and agency securities are less than eighteen months from September 30, 2013. | |||||||||||||||||||||||||||||||||
The following is a summary of our cash and cash equivalents (in thousands): | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, | ||||||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Cash | $ | 14,297 | $ | 57,082 | |||||||||||||||||||||||||||||
U.S. government and agency security | — | 1,550 | |||||||||||||||||||||||||||||||
Money market funds | 5,802 | 17 | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 20,099 | $ | 58,649 | |||||||||||||||||||||||||||||
LongTerm_Debt_Notes
Long-Term Debt (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Long-Term Debt | ' |
Long-Term Debt | |
We entered into a long-term loan agreement in March 2005 (as amended, the Loan Agreement). Commencing in March 2011, we made principal and interest payments of $0.6 million per month and, as required under the Loan Agreement, we made an additional principal payment of $2.3 million in March 2012. Using the effective interest method, a majority of the March 2012 payment was accrued as interest expense in periods prior to 2010 with the remainder being recognized through the extended maturity date of February 2013. In June 2012, we elected to make another principal payment in the amount of $1.9 million using proceeds from our Line of Credit (see Note 6). During the three months ended September 30, 2012, we paid the remaining balance due and the Loan Agreement was terminated. |
Line_of_Credit_Notes
Line of Credit (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Line of Credit | ' |
Line of Credit | |
In December 2010, we entered into a two-year bank line of credit agreement (as amended, the Line of Credit) that provided us with the ability to borrow up to $7.0 million, subject to certain covenants and other restrictions, and bore interest at a rate equal to the greater of (i) 4.25% or (ii) the prime rate plus 1.00% per year. In December 2012, the Line of Credit was amended to extend the term for an additional two years and provide us with the ability to borrow up to $10.0 million, of which $6.0 million is available on a non-formula basis, subject to certain covenants and other restrictions. The balance of $4.0 million is available based on eligible receivables. The Line of Credit is collateralized by our assets, excluding our intellectual property, and bears interest at a rate equal to the greater of (i) 3.75% or (ii) the prime rate plus 0.50% per year. At September 30, 2013, there was no outstanding balance on the Line of Credit and we were in compliance with all applicable covenants. |
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
On April 9, 2013, we entered into an amendment (the Amendment) to the lease agreement dated September 4, 2010 (as amended, the Lease) relating to the lease of office and laboratory space at our headquarters located at 7000 Shoreline Court, South San Francisco, California. The Amendment provides for an expansion of the premises covered under the Lease to include space that is currently being subleased by us from a third party through March 31, 2014; an extension of the term of the Lease to April 30, 2020 with an option to renew for an additional five years; payment of base rent with rent escalation; and payment of certain operating expenses during the term of the Lease. The Amendment also provides for an allowance of approximately $0.7 million for tenant improvements, which, to the extent not used by March 31, 2015, will be used to offset base rent obligations, and an additional allowance of approximately $0.5 million for tenant improvements, which, if used, will be repaid in equal monthly payments with interest at a rate of 9% per annum over the remaining term of the Lease. |
StockBased_Compensation_Notes
Stock-Based Compensation (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Stock-Based Compensation | ' |
Stock-Based Compensation | |
During the three months ended September 30, 2013, we granted to certain employees options to purchase 18,000 shares of common stock with exercise prices ranging from $17.76 to $21.94 per share. During the nine months ended September 30, 2013, we granted to certain employees options to purchase 1,229,000 shares of common stock with exercise prices ranging from $15.27 to $21.94 per share. These options had a total grant date fair value of $11.3 million that will be recognized as expense over their respective 4-year vesting periods. | |
We recognized stock-based compensation expense of $1.7 million and $1.0 million during the three months ended September 30, 2013 and 2012, respectively. During the nine months ended September 30, 2013 and 2012, we recognized stock-based compensation of $4.7 million and $3.0 million, respectively. As of September 30, 2013, we had $16.6 million of unrecognized stock-based compensation costs, which are expected to be recognized over a weighted average period of 2.7 years. |
Income_Taxes_Notes
Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
Income taxes are primarily comprised of state and foreign income taxes. The provision or benefit for income taxes for the periods presented differs from the 34% U.S. Federal statutory rate primarily due to maintaining a valuation allowance for U.S. losses and tax assets, which we do not consider to be realizable. Income tax expense primarily consists of amounts payable in foreign jurisdictions. |
Information_About_Geographic_A
Information About Geographic Areas (Notes) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Information About Geographic Areas | ' | ||||||||||||||||
Information About Geographic Areas | |||||||||||||||||
We operate in one reporting segment, which is the development, manufacturing and commercialization of microfluidic systems consisting of instruments and consumables, including IFCs for nucleic acid analysis and three families of assay chemistries, for academic institutions, clinical laboratories, and pharmaceutical, biotechnology, and Ag-Bio companies in growth markets, such as single-cell genomics, applied genotyping, and sample preparation for targeted resequencing. | |||||||||||||||||
The following table presents product revenue by geography based on the billing address of our customers for each period presented (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
United States | $ | 10,145 | $ | 7,757 | $ | 27,213 | $ | 20,024 | |||||||||
Europe | 3,962 | 2,678 | 11,899 | 8,088 | |||||||||||||
Japan | 2,620 | 774 | 4,504 | 2,763 | |||||||||||||
Asia-Pacific | 897 | 1,267 | 4,375 | 4,484 | |||||||||||||
Other | 421 | 126 | 1,575 | 767 | |||||||||||||
Total | $ | 18,045 | $ | 12,602 | $ | 49,566 | $ | 36,126 | |||||||||
Our license and grant revenues are primarily generated in the United States. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
Subsequent Event | |
On October 14, 2013, Fluidigm Singapore Pte Ltd. (Fluidigm Singapore), our wholly-owned subsidiary, accepted an offer of tenancy (the Lease) from HSBC Institutional Trust Services (Singapore) Limited, as trustee of Ascendas Real Estate Investment Trust (the Landlord), relating to the lease of a facility located at Block 5008, Ang Mo Kio Avenue 5, TECHplace II, Singapore 569874. Pursuant to the terms of the Lease, it is expected that Fluidigm Singapore will be in possession of the facility commencing on March 2, 2014 for a term of 99 months. Aggregate gross rent (including service charges) due under the Lease will be SG$6.4 million (approximately US$5.1 million using the October 14, 2013 exchange rate). The Lease also provides Fluidigm Singapore with an option to renew the Lease for an additional 60 months at the then prevailing market rent, and on similar terms as the existing Lease, and a right of first refusal on certain additional space in the building beginning June 2, 2014 until June 1, 2015. We are currently evaluating the accounting for the Lease. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and following the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of December 31, 2012 has been derived from audited consolidated financial statements at that date but does not include all of the information required by U.S. GAAP for complete financial statements. These financial statements have been prepared on the same basis as our annual financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for a fair presentation of our financial information. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013 or for any other interim period or for any other future year. | |
The preparation of these condensed consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. On an ongoing basis, we evaluate our estimates, including critical accounting policies or estimates related to revenue recognition, income tax provisions, stock-based compensation, inventory valuation, and allowances for doubtful accounts. We base our estimates on historical experience and on various relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ significantly from these estimates. | |
The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2012 included in our Annual Report on Form 10-K filed with the SEC. | |
Reclassifications | ' |
Reclassifications | |
Certain items previously reported in the condensed consolidated statement of cash flows have been reclassified to conform to the current period presentation. Such reclassifications do not impact previously reported net cash used in operating activities, net cash provided by investing activities, net cash used in financing activities, or the net decrease in cash and cash equivalents. | |
Net Loss per Share | ' |
Net Loss per Share | |
Our basic and diluted net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding for the period. Our options to purchase common stock are considered to be potentially dilutive common shares but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. | |
Comprehensive Loss | ' |
Comprehensive loss is comprised of net loss, unrealized gains and losses on our investments, and foreign currency translation adjustments. | |
Investment, at Cost | ' |
Investment, at Cost | |
At December 31, 2012, we had a minority equity investment in Verinata Health, Inc. (Verinata), a privately-held company, that was included in other non-current assets and accounted for under the cost method of accounting. Under the cost method of accounting, the investment was carried at cost and adjusted only for other than temporary declines in value. | |
Intangible Assets Acquisition | ' |
Intangible Assets Acquisition | |
On June 28, 2013, we acquired certain patents, patent applications, and licenses from Helicos Biosciences Corporation (Helicos) relating to Helicos’ next-generation sequencing technology. The rights acquired by us are subject to certain licenses and sublicenses granted by Helicos prior to or contemporaneously with our acquisition. The assets were acquired for $1.0 million and, as of September 30, 2013, we had incurred transaction costs of approximately $0.3 million. The patents, patent applications, and licenses have an alternative future use and, as a result, the acquired assets and transaction costs are capitalized as intangible assets and are included in other non-current assets. The acquired assets will be amortized to research and development expense over their useful life of ten years. | |
Legal Matters | ' |
Legal Matters | |
From time to time, we may be subject to various legal proceedings and claims arising in the ordinary course of business. We assess contingencies to determine the degree of probability and range of possible loss for potential accrual in our financial statements. An estimated loss contingency is accrued in the financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. | |
Recent Accounting Pronouncement | ' |
Recent Accounting Pronouncement | |
In June 2013, the Financial Accounting Standards Board ratified Emerging Issues Task Force (EITF) Issue 13-C, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” which concludes an unrecognized tax benefit should be presented as a reduction of a deferred tax asset when settlement in this manner is available under the tax law. This guidance is effective for our interim and annual periods beginning January 1, 2014. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
As a basis for considering fair value, we follow a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: | |
Level I: observable inputs such as quoted prices in active markets; | |
Level II: inputs other than quoted prices in active markets that are observable either directly or indirectly; and | |
Level III: unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions. | |
Our cash equivalents are classified as Level I because they are valued using quoted market prices. Our U.S. government and agency securities are classified as Level II because the inputs to these valuations are derived from or corroborated by observable market data. Depending on the security, the income and market approaches are used in the model driven valuations. Inputs into these models include recently executed transaction prices for our investment securities or the securities of comparable issuers and yield curves. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Summary of Potential Common Shares Excluded from Computations of Diluted Net Loss Per Share Attributed to Common Stockholders | ' | ||||||||||||||||
The following potentially dilutive common shares were excluded from the computation of diluted net loss per share for the interim periods presented because including them would have been anti-dilutive (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Options to purchase common stock | 3,631 | 3,013 | 3,631 | 3,013 | |||||||||||||
Summary of Comprehensive Loss | ' | ||||||||||||||||
The following is a summary of comprehensive loss (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net loss | $ | (4,286 | ) | $ | (4,152 | ) | $ | (11,883 | ) | $ | (15,422 | ) | |||||
Other comprehensive (loss) income | 82 | 8 | 56 | (20 | ) | ||||||||||||
Comprehensive loss | $ | (4,204 | ) | $ | (4,144 | ) | $ | (11,827 | ) | $ | (15,442 | ) |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
Inventories consist of the following (in thousands): | |||||||||
September 30, 2013 | December 31, | ||||||||
2012 | |||||||||
Raw materials | $ | 2,536 | $ | 2,846 | |||||
Work-in-process | 1,803 | 1,369 | |||||||
Finished goods | 3,682 | 2,954 | |||||||
$ | 8,021 | $ | 7,169 | ||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Financial Instruments Measured at Fair Value by Level within the Fair Value Hierarchy | ' | ||||||||||||||||||||||||||||||||
The following table sets forth our financial instruments that were measured at fair value by level within the fair value hierarchy (in thousands): | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Level I | Level II | Level III | Total | Level I | Level II | Level III | Total | ||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Money market funds | $ | 5,802 | $ | — | $ | — | $ | 5,802 | $ | 17 | $ | — | $ | — | $ | 17 | |||||||||||||||||
U.S. government and agency securities | — | 62,720 | — | 62,720 | — | 26,579 | — | 26,579 | |||||||||||||||||||||||||
Total assets measured at fair value | $ | 5,802 | $ | 62,720 | $ | — | $ | 68,522 | $ | 17 | $ | 26,579 | $ | — | $ | 26,596 | |||||||||||||||||
Summary of Investments | ' | ||||||||||||||||||||||||||||||||
The following is a summary of our U.S. government and agency securities at September 30, 2013 (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gain | Loss | ||||||||||||||||||||||||||||||||
U.S. government and agency securities | $ | 62,693 | $ | 30 | $ | (3 | ) | $ | 62,720 | ||||||||||||||||||||||||
Summary of Cash and Cash Equivalents | ' | ||||||||||||||||||||||||||||||||
The following is a summary of our cash and cash equivalents (in thousands): | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, | ||||||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Cash | $ | 14,297 | $ | 57,082 | |||||||||||||||||||||||||||||
U.S. government and agency security | — | 1,550 | |||||||||||||||||||||||||||||||
Money market funds | 5,802 | 17 | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 20,099 | $ | 58,649 | |||||||||||||||||||||||||||||
Information_About_Geographic_A1
Information About Geographic Areas (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Product Revenue by Geography Based on Billing Address of Customers | ' | ||||||||||||||||
The following table presents product revenue by geography based on the billing address of our customers for each period presented (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
United States | $ | 10,145 | $ | 7,757 | $ | 27,213 | $ | 20,024 | |||||||||
Europe | 3,962 | 2,678 | 11,899 | 8,088 | |||||||||||||
Japan | 2,620 | 774 | 4,504 | 2,763 | |||||||||||||
Asia-Pacific | 897 | 1,267 | 4,375 | 4,484 | |||||||||||||
Other | 421 | 126 | 1,575 | 767 | |||||||||||||
Total | $ | 18,045 | $ | 12,602 | $ | 49,566 | $ | 36,126 | |||||||||
Description_of_Business_Detail
Description of Business (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Incorporation of the company | 11-May-99 |
Reincorporation of the company | '2007-07 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Potential Common Shares Excluded from Computations of Diluted Net Loss Per Share Attributed to Common Stockholders (Details) (Stock Options) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Options to purchase common stock | 3,631 | 3,013 | 3,631 | 3,013 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Summary of Comprehensive Loss (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Net loss | ($4,286) | ($4,152) | ($11,883) | ($15,422) |
Other comprehensive (loss) income | 82 | 8 | 56 | -20 |
Comprehensive loss | ($4,204) | ($4,144) | ($11,827) | ($15,442) |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | |||||
Jun. 28, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Feb. 28, 2013 | Sep. 30, 2013 | |
Illumina Inc | Life Technologies | ||||||||
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Public offering shares of our common stock (in shares) | ' | ' | ' | ' | 4,209,000 | ' | ' | ' | ' |
Cash proceeds from issuance of common stock | ' | ' | ' | ' | $0 | $56,143,000 | ' | ' | ' |
Carrying value of Investment | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' |
Sale price of Verinata | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' |
Proceeds from sale of investment in Verinata | ' | 3,117,000 | ' | ' | 3,117,000 | 0 | ' | ' | ' |
Gain on sale of cost method investment | ' | 1,777,000 | 0 | 0 | 1,777,000 | 0 | ' | ' | ' |
Total payment to all Verinata investors on achievement of milestone | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' |
Expected proceeds from sale of investment in Verinata | ' | 3,200,000 | ' | ' | ' | ' | ' | ' | ' |
Intangible asset acquisition amount | 1,043,000 | ' | ' | ' | 1,043,000 | 0 | ' | ' | ' |
Asset acquisition transaction costs | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' |
Intangible assets amortization period | ' | ' | ' | ' | '10 years | ' | ' | ' | ' |
Loss contingency estimate of possible loss | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 |
Gain from NanoString settlement | ' | ' | ' | ' | $600,000 | ' | ' | ' | ' |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $2,536 | $2,846 |
Work-in-process | 1,803 | 1,369 |
Finished goods | 3,682 | 2,954 |
Inventories | $8,021 | $7,169 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | $68,522 | $26,596 |
Money market funds | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 5,802 | 17 |
U.S. government and agency securities | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 62,720 | 26,579 |
Level I | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 5,802 | 17 |
Level I | Money market funds | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 5,802 | 17 |
Level I | U.S. government and agency securities | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 0 | 0 |
Level II | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 62,720 | 26,579 |
Level II | Money market funds | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 0 | 0 |
Level II | U.S. government and agency securities | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 62,720 | 26,579 |
Level III | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 0 | 0 |
Level III | Money market funds | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | 0 | 0 |
Level III | U.S. government and agency securities | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total assets measured at fair value | $0 | $0 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments Summary of Investments and Cash Equivalents (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value | $0 | $1,550 |
U.S. government and agency securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 62,693 | ' |
Gross Unrealized Gain | 30 | ' |
Gross Unrealized Loss | -3 | ' |
Estimated Fair Value | $62,720 | ' |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Fair Value Disclosures [Abstract] | ' |
U.S. government and agency securities maturing within one year | $43.60 |
Summary_of_Cash_and_Cash_Equiv
Summary of Cash and Cash Equivalents (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Abstract] | ' | ' | ' | ' |
Cash | $14,297 | $57,082 | ' | ' |
U.S. government and agency security | 0 | 1,550 | ' | ' |
Money market funds | 5,802 | 17 | ' | ' |
Cash and cash equivalents | $20,099 | $58,649 | $66,011 | $13,553 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 1 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2012 | Mar. 31, 2012 | Mar. 31, 2011 |
Debt Disclosure [Abstract] | ' | ' | ' |
Principal and interest payments per month | ' | ' | $0.60 |
Additional principal payment | $1.90 | $2.30 | ' |
Line_of_Credit_Details
Line of Credit (Details) (USD $) | 1 Months Ended | 12 Months Ended |
Dec. 31, 2010 | Dec. 31, 2012 | |
Line of Credit Facility [Line Items] | ' | ' |
Term of line of credit agreement | '2 years | ' |
Maximum ability to borrow under Line of Credit | $7,000,000 | ' |
Interest rate description | 'Two-year bank line of credit agreement (as amended, the Line of Credit) that provided us with the ability to borrow up to $7.0 million, subject to certain covenants and other restrictions, and bore interest at a rate equal to the greater of (i)Â 4.25% or (ii)Â the prime rate plus 1.00%Â per year. | ' |
Interest rate, first among the two described rate | 4.25% | ' |
Additional interest rate | 1.00% | ' |
Line of credit extended period | ' | '2 years |
After Amendment | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Maximum ability to borrow under Line of Credit | ' | 10,000,000 |
Interest rate description | ' | 'In December 2012, the Line of Credit was amended to extend the term for an additional two years and provide us with the ability to borrow up to $10.0 million, of which $6.0 million is available on a non-formula basis, subject to certain covenants and other restrictions. The balance of $4.0 million is available based on eligible receivables. The Line of Credit is collateralized by our assets, excluding our intellectual property, and bears interest at a rate equal to the greater of (i)Â 3.75% or (ii)Â the prime rate plus 0.50%Â per year. |
Interest rate, first among the two described rate | ' | 3.75% |
Additional interest rate | ' | 0.50% |
After Amendment | Non Formula Basis Availability | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Maximum ability to borrow under Line of Credit | ' | 6,000,000 |
After Amendment | Eligible Receivables Basis Availability | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Maximum ability to borrow under Line of Credit | ' | 4,000,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (Lease Obligations, USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Apr. 09, 2013 |
Lease Obligations | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
Extended term of the lease | 30-Apr-20 |
Operating leases renewal option period | '5 years |
Tenant improvements, which, to the extent not used by March 31, 2015, will be used to offset base rent obligations | $0.70 |
Additional Allowance for tenant improvements | $0.50 |
Remaining term interest rate of lease | 9.00% |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Stock-based compensation | ' | ' | ' | ' |
Employee stock options granted | 18 | ' | 1,229 | ' |
Total grant date fair value | ' | ' | $11.30 | ' |
Vesting period of the grant date fair value | ' | ' | '4 years | ' |
Stock-based compensation expense | 1.7 | 1 | 4.7 | 3 |
Total unrecognized compensation cost related to stock-based compensation arrangements | $16.60 | ' | $16.60 | ' |
Unrecognized compensation cost related to stock-based compensation arrangements average recognition period | ' | ' | '2 years 8 months 12 days | ' |
Minimum | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' |
Exercise price of options granted | $17.76 | ' | $15.27 | ' |
Maximum | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' |
Exercise price of options granted | $21.94 | ' | $21.94 | ' |
Income_Taxes_Details
Income Taxes (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Tax provision or benefit at federal statutory rate | 34.00% |
Information_About_Geographic_A2
Information About Geographic Areas (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of reporting segment | 1 |
Information_About_Geographic_A3
Information About Geographic Areas Product Revenue by Geography (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Total product revenue | ' | ' | ' | ' |
Total | $18,045 | $12,602 | $49,566 | $36,126 |
United States | ' | ' | ' | ' |
Total product revenue | ' | ' | ' | ' |
Total | 10,145 | 7,757 | 27,213 | 20,024 |
Europe | ' | ' | ' | ' |
Total product revenue | ' | ' | ' | ' |
Total | 3,962 | 2,678 | 11,899 | 8,088 |
Japan | ' | ' | ' | ' |
Total product revenue | ' | ' | ' | ' |
Total | 2,620 | 774 | 4,504 | 2,763 |
Asia-Pacific | ' | ' | ' | ' |
Total product revenue | ' | ' | ' | ' |
Total | 897 | 1,267 | 4,375 | 4,484 |
Other | ' | ' | ' | ' |
Total product revenue | ' | ' | ' | ' |
Total | $421 | $126 | $1,575 | $767 |
Subsequent_Event_Details
Subsequent Event (Details) (Subsequent Event) | 0 Months Ended | |
In Millions, unless otherwise specified | Oct. 14, 2013 | Oct. 14, 2013 |
USD ($) | SGD | |
Subsequent Event [Line Items] | ' | ' |
Current operating lease term | '99 months | '99 months |
Operating lease gross payment due | $5.10 | 6.4 |
Operating leases renewal option period | '60 months | '60 months |