Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | CUTERA INC | |
Entity Central Index Key | 0001162461 | |
Trading Symbol | cutr | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 14,036,972 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 19,158 | $ 26,052 |
Marketable investments | 7,939 | 9,523 |
Accounts receivable, net | 19,136 | 19,637 |
Inventories | 26,659 | 28,014 |
Other current assets and prepaid expenses | 4,864 | 3,972 |
Total current assets | 77,756 | 87,198 |
Property and equipment, net | 2,407 | 2,672 |
Deferred tax asset | 451 | 457 |
Operating lease-right-of-use assets | 9,442 | |
Goodwill | 1,339 | 1,339 |
Other long-term assets | 5,960 | 5,971 |
Total assets | 97,355 | 97,637 |
Current liabilities: | ||
Accounts payable | 10,337 | 11,279 |
Accrued liabilities | 21,788 | 23,300 |
Operating lease liabilities | 1,840 | |
Extended warranty liability | 2,667 | 3,159 |
Deferred revenue | 10,263 | 9,882 |
Total current liabilities | 46,895 | 47,620 |
Deferred revenue, net of current portion | 2,828 | 2,684 |
Income tax liability | 399 | 394 |
Operating lease liabilities, net of current portion | 7,759 | |
Other long-term liabilities | 354 | 553 |
Total liabilities | 58,235 | 51,251 |
Commitments and Contingencies (Notes 12 and 13) | ||
Stockholders’ equity: | ||
Common stock, $0.001 par value; authorized: 50,000,000 shares; issued and outstanding: 14,035,375 and 13,968,852 shares at March 31, 2019 and December 31, 2018, respectively | 14 | 14 |
Additional paid-in capital | 71,399 | 70,451 |
Accumulated deficit | (32,230) | (24,010) |
Accumulated other comprehensive loss | (63) | (69) |
Total stockholders’ equity | 39,120 | 46,386 |
Total liabilities and stockholders’ equity | $ 97,355 | $ 97,637 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2019 | Dec. 31, 2018 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 14,035,375 | 13,968,852 |
Common stock, outstanding (in shares) | 14,035,375 | 13,968,852 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net revenue: | ||
Revenue | $ 36,026,000 | $ 34,125,000 |
Cost of revenue: | ||
Cost of revenue | 18,717,000 | 16,791,000 |
Gross profit | 17,309,000 | 17,334,000 |
Operating expenses: | ||
Sales and marketing | 16,104,000 | 13,088,000 |
Research and development | 3,706,000 | 3,556,000 |
General and administrative | 5,525,000 | 5,439,000 |
Total operating expenses | 25,335,000 | 22,083,000 |
Loss from operations | (8,026,000) | (4,749,000) |
Interest and other income (expense), net | (79,000) | 98,000 |
Loss before income taxes | (8,105,000) | (4,651,000) |
Income tax expense (benefit) | 115,000 | (2,619,000) |
Net loss | $ (8,220,000) | $ (2,032,000) |
Net loss per share: | ||
Basic and Diluted (in dollars per share) | $ (0.59) | $ (0.15) |
Weighted-average number of shares used in per share calculations: | ||
Basic and Diluted (in shares) | 14,017 | 13,587 |
Product [Member] | ||
Net revenue: | ||
Revenue | $ 30,762,000 | $ 29,264,000 |
Cost of revenue: | ||
Cost of revenue | 15,541,000 | 13,922,000 |
Service [Member] | ||
Net revenue: | ||
Revenue | 5,264,000 | 4,861,000 |
Cost of revenue: | ||
Cost of revenue | $ 3,176,000 | $ 2,869,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net loss | $ (8,220) | $ (2,032) |
Available-for-sale investments | ||
Net change in unrealized gain (loss) on available-for-sale investments | 6 | (21) |
Less: Reclassification adjustment for losses on investments recognized during the period | 9 | |
Net change in unrealized gain (loss) on available-for-sale investments | 6 | (12) |
Tax benefit | ||
Other comprehensive gain (loss), net of tax | 6 | (12) |
Comprehensive loss | $ (8,214) | $ (2,044) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 13,477,973 | ||||
Balance at Dec. 31, 2017 | $ 13 | $ 62,025 | $ 2,947 | $ (92) | $ 64,893 |
Exercise of stock options (in shares) | 66,167 | ||||
Exercise of stock options | 633 | 633 | |||
Issuance of common stock in settlement of restricted and performance stock units, net of shares withheld for employee taxes, and stock awards (in shares) | 90,014 | ||||
Issuance of common stock in settlement of restricted and performance stock units, net of shares withheld for employee taxes, and stock awards | $ 1 | (2,289) | (2,288) | ||
Stock-based compensation expense | 1,688 | 1,688 | |||
Net loss | (2,032) | (2,032) | |||
Net change in unrealized gain (loss) on available-for-sale investments | (12) | (12) | |||
Adjustment to opening balance for ASC 606 adoption at Dec. 31, 2017 | 4,973 | 4,973 | |||
Balance (in shares) at Mar. 31, 2018 | 13,634,154 | ||||
Balance at Mar. 31, 2018 | $ 14 | 62,057 | 5,888 | (104) | $ 67,855 |
Balance (in shares) at Dec. 31, 2018 | 13,968,852 | 13,968,852 | |||
Balance at Dec. 31, 2018 | $ 14 | 70,451 | (24,010) | (69) | $ 46,386 |
Exercise of stock options (in shares) | 15,032 | 16,644 | |||
Exercise of stock options | 131 | $ 131 | |||
Issuance of common stock in settlement of restricted and performance stock units, net of shares withheld for employee taxes, and stock awards (in shares) | 51,491 | ||||
Issuance of common stock in settlement of restricted and performance stock units, net of shares withheld for employee taxes, and stock awards | (490) | (490) | |||
Stock-based compensation expense | 1,307 | 1,307 | |||
Net loss | (8,220) | (8,220) | |||
Net change in unrealized gain (loss) on available-for-sale investments | 6 | $ 6 | |||
Balance (in shares) at Mar. 31, 2019 | 14,035,375 | 14,035,375 | |||
Balance at Mar. 31, 2019 | $ 14 | $ 71,399 | $ (32,230) | $ (63) | $ 39,120 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (8,220) | $ (2,032) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 1,307 | 1,688 |
Depreciation of tangible assets | 411 | 254 |
Amortization of contract acquisition costs | 690 | 373 |
Change in deferred tax asset | 6 | (2,737) |
Provision for doubtful accounts receivable | (98) | (187) |
Other | 103 | (162) |
Changes in assets and liabilities: | ||
Accounts receivable | 403 | 915 |
Inventories | 1,355 | (2,197) |
Other current assets and prepaid expenses | (916) | 1,753 |
Other long-term assets | (679) | (2,150) |
Accounts payable | (942) | 1,204 |
Accrued liabilities | (1,467) | (6,727) |
Extended warranty liabilities | (492) | |
Other long-term liabilities | (140) | 35 |
Deferred revenue | 525 | (456) |
Income tax liabilities | 5 | 5 |
Net cash used in operating activities | (7,953) | (10,047) |
Cash flows from investing activities: | ||
Acquisition of property, equipment and software | (65) | (104) |
Proceeds from sales of marketable investments | 13,044 | |
Proceeds from maturities of marketable investments | 3,200 | |
Purchase of marketable investments | (1,586) | (4,390) |
Net cash provided by investing activities | 1,549 | 8,550 |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options and employee stock purchase plan | 131 | 633 |
Taxes paid related to net share settlement of equity awards | (490) | (2,288) |
Payments on finance lease obligations | (131) | (122) |
Net cash used in financing activities | (490) | (1,777) |
Net decrease in cash and cash equivalents | (6,894) | (3,274) |
Cash and cash equivalents at beginning of period | 26,052 | 14,184 |
Cash and cash equivalents at end of period | 19,158 | 10,910 |
Supplemental disclosure of non-cash items: | ||
Assets acquired under capital lease | $ 192 | $ 284 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1. Description of Operations and Principles of Consolidation Cutera, Inc. (“Cutera” or the “Company”) is a global provider of laser and energy-based aesthetic systems for practitioners worldwide. The Company designs, develops, manufactures, distributes and markets light and energy-based product platforms for use by physicians and other qualified practitioners, enabling them to offer safe and effective aesthetic treatments to their customers. The Company currently markets the following system platforms: excel, enlighten, Juliet, Secret RF, truSculpt xeo Titan, truSculpt 3D truSculpt iD Juliet Secret RF third Titan, truSculpt 3D truSculpt iD Headquartered in Brisbane, California, the Company has wholly-owned subsidiaries that are currently operational in Australia, Belgium, Canada, France, Germany, Hong Kong, Japan, Spain, Switzerland and the United Kingdom. The Company’s wholly owned subsidiary in Italy is currently dormant. These active subsidiaries market, sell and service the Company’s products outside of the United States. The Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All inter-company transactions and balances have been eliminated. Unaudited Interim Financial Information In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements included in this report reflect all adjustments (consisting of only normal recurring adjustments) necessary for a fair statement of its financial position as of March 31, 2019 2018, three March 31, 2019, 2018. December 31, 2018 not not 10 December 31, 2018 March 18, 2019. Accounting Policies These unaudited condensed consolidated financial statements are prepared in accordance with the rules and regulations of the SEC applicable to interim financial statements. While these statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not 10 December 31, 2018 March 18, 2019. The Company uses the same accounting policies in preparing quarterly and annual financial statements. Notes 2 13 Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the accompanying notes, and the reported amounts of revenue and expenses during the reported periods. Actual results could differ materially from those estimates. On an ongoing basis, management evaluates its estimates, including those related to warranty obligations, sales commission, accounts receivable and sales allowances, valuation of inventories, fair value of goodwill, useful lives of property and equipment, incremental borrowing rates related to the Company’s leases, assumptions regarding variables used in calculating the fair value of the Company's equity awards, expected achievement of performance based vesting criteria, management performance bonuses, fair value of investments, the standalone selling price of the Company's products and services, the customer life and period of benefit used to capitalize and amortize contracts acquisition costs, variable consideration, contingent liabilities, recoverability of deferred tax assets, and effective income tax rates. Management bases estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Risks and Uncertainties The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's future operating results and cause actual results to vary materially from expectations include, but are not Recently Adopted Accounting Pronouncements In February 2016, 2016 02, 842 July 2018, 2018 11, 2016 02 2018 11 not July 2018, 2018 10, 842, 2016 02. The Company adopted ASU 2016 02, January 1, 2019, not not The adoption of the new standard resulted in the recording of additional lease assets and lease liabilities of $10.3 $10.4 January 1, 2019, no See Notes 2 12 842. In June 2018, No. 2018 07, 718 1 2 3 606. December 15, 2018, no 606. January 1, 2019. no Other Accounting Pronouncements Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract In August 2018, No. 2018 15, 350 December 15, 2019 |
Note 2 - Effect of Adoption of
Note 2 - Effect of Adoption of the New Lease Standard (ASC Topic 842) on Condensed Consolidated Financial Statements | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 2. 842 The Company adopted ASC Topic 842, January 1, 2019, not The following table summarizes the effects of adopting Topic 842 January 1, 2019 ( As reported under Topic 842 Adjustments Balances under Prior GAAP Operating lease right-of-use assets $ 10,049 $ 10,049 $ — Operating lease liabilities (2,430) (2,430) — Other long-term liabilities* — 140 140 Operating lease liabilities, net of current portion (7,759) (7,759) — *Deferred rent included in other long-term liabilities |
Note 3 - Cash, Cash Equivalents
Note 3 - Cash, Cash Equivalents and Marketable Investments | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | Note 3. The Company invests its cash primarily in money market funds and in highly liquid debt instruments of U.S. federal and municipal governments and their agencies, commercial paper and corporate debt securities. All highly liquid investments with stated maturities of three three The Company determines the appropriate classification of its investments in marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. The Company’s marketable securities have been classified and accounted for as available-for-sale securities. Investments with remaining maturities of more than one The following tables summarize the components, and the unrealized gains and losses position, related to the Company’s cash, cash equivalents and marketable investments (in thousands): March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Cash and cash equivalents $ 19,158 $ — $ — $ 19,158 Marketable investments: U.S. government notes 1,405 — — 1,405 U.S. government agencies 2,694 — — 2,694 Municipal securities 202 — — 202 Commercial paper 2,437 — — 2,437 Corporate debt securities 1,204 — (3 ) 1,201 Total marketable investments 7,942 — (3 ) 7,939 Total cash, cash equivalents and marketable investments $ 27,100 $ — $ (3 ) $ 27,097 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Cash and cash equivalents $ 26,052 $ — $ — $ 26,052 Marketable investments: U.S. government notes 1,397 — — 1,397 U.S. government agencies 2,677 — — 2,677 Municipal securities 200 — — 200 Commercial paper 2,433 — — 2,433 Corporate debt securities 2,825 — (9 ) 2,816 Total marketable investments 9,532 — (9 ) 9,523 Total cash, cash equivalents and marketable investments $ 35,584 $ — $ (9 ) $ 35,575 As of March 31, 2019 December 31, 2018, $3,000 $9,000, not No 12 The following table summarizes the contractual maturities of the Company’s available-for-sale securities, classified as marketable investments as of March 31, 2019 ( Amount Due in less than one year $ 7,939 Due in 1 to 3 years — Total marketable investments $ 7,939 |
Note 4 - Fair Value of Financia
Note 4 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4. Fair Value of Financial Instruments Fair value is defined as the price 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. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. The Company’s financial instruments include cash equivalents, marketable investments, accounts receivable, accounts payable and accrued liabilities. Carrying amounts of the Company's financial instruments approximate their fair values as of the balance sheet dates given their generally short maturities. The fair value hierarchy distinguishes between ( 1 2 three 1 3 three 820: ● Level 1: ● Level 2: not 2 not ● Level 3: no In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. As of March 31, 2019, March 31, 201 9 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 3,061 $ — $ — $ 3,061 Commercial paper — 2,693 — 2,693 Marketable investments: Available-for-sale securities — 7,939 — 7,939 Total assets at fair value $ 3,061 $ 10,632 $ — $ 13,693 As of December 31, 2018, December 31, 2018 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 3,036 $ — $ — $ 3,036 Commercial paper — 1,047 — 1,047 Marketable investments: Available-for-sale securities — 9,523 — 9,523 Total assets at fair value $ 3,036 $ 10,570 $ — $ 13,606 The Company’s Level 1 2 may two 2 March 31, 2019 7 no March 31, 2019 December 31, 2018, |
Note 5 - Balance Sheet Details
Note 5 - Balance Sheet Details | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | Note 5. Balance Sheet Details Inventories As of March 31, 2019 December 31, 2018, March 31, 201 9 December 31, 2018 Raw materials $ 16,864 $ 16,991 Work in process 1,325 2,306 Finished goods 8,470 8,717 Total $ 26,659 $ 28,014 Accrued Liabilities As of March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018 Accrued payroll and related expenses $ 8,892 $ 9,377 Sales and marketing accruals 2,089 2,379 Warranty liability 4,064 4,666 Sales tax 2,970 2,935 Other 3,773 3,943 Total $ 21,788 $ 23,300 Product Remediation Liability During the fourth 2018, one one $5.0 $1.1 fourth 2018. $0.7 $3.2 In the three March 31, 2019, $0.1 $0.5 March 31, 2019, $0.6 $2.7 |
Note 6 - Warranty and Extended
Note 6 - Warranty and Extended Service Contracts | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | Note 6. Extended Service Contract The Company has a direct field service organization in North America (including Canada). Internationally, the Company provides direct service support in Australia, Belgium, France, Germany, Hong Kong, Japan, Spain and Switzerland, as well as through third not third After the original warranty period, maintenance and support are offered on an extended service contract basis or on a time and materials basis. The Company provides for the estimated cost to repair or replace products under standard warranty at the time of sale. Costs incurred in connection with extended service contracts are recognized at the time when costs are incurred, except the one $3.2 December 31, 2018, one The following table provides the changes in the product standard warranty accrual for the three March 31, 2019 2018 Three Months Ended March 3 1 , 2019 2018 Beginning Balance $ 4,668 $ 3,508 Add: Accruals for warranties issued during the period 1,444 2,264 Less: Settlements made during the period (2,048) (2,399) Ending Balance $ 4,064 $ 3,373 The $2.0 March 31, 2019 $0.5 one 5 |
Note 7 - Deferred Revenue
Note 7 - Deferred Revenue | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Contract with Customer Liability [Text Block] | Note 7. The Company records deferred revenue when revenue is to be recognized subsequent to invoicing. For extended service contracts, the Company generally invoices customers at the beginning of the extended service contract term. The Company’s extended service contracts typically have one, two three 78% $13.1 March 31, 2019 12 The following table provides changes in the deferred service contract revenue balance for the three March 31, 2019 2018 Three Months Ended March 31, 2019 2018 Beginning Balance $ 11,855 $ 10,719 Add: Payments received 4,142 2,995 Less: Revenue recognized (3,522) (3,347) Ending Balance $ 12,475 $ 10,367 Costs for extended service contracts were $2.0 $1.9 three March 31, 2019 2018, |
Note 8 - Revenue
Note 8 - Revenue | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 8 . Revenue Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for promised goods or services. The Company’s performance obligations are satisfied either over time or at a point in time. Revenue from performance obligations that are transferred to customers over time accounted for approximately 15% 14% three March 31, 2019 2018, The Company has certain system sale arrangements that contain multiple products and services. For these bundled sale arrangements, the Company accounts for individual products and services as separate performance obligations if they are distinct. The Company’s products and services are distinct if a customer can benefit from the product or service on its own or with other resources that are readily available to the customer, and if the Company’s promise to transfer the products or service to the customer is separately identifiable from other promises in the contract. The Company’s system sale arrangements include a combination of the following performance obligations: the system and software license (considered as one For the Company’s system sale arrangements that include an extended service contract, the period of service commences at the expiration of the Company’s standard warranty offered at the time of the system sale. The Company considers the extended service contracts terms in the arrangements that are legally enforceable to be performance obligations. Other than extended service contracts and marketing services, which are satisfied over time, the Company generally satisfies all performance obligations at a point in time. Systems, system accessories (hand pieces), training, time and materials services are also sold on a stand-alone basis, and related performance obligations are satisfied at a point in time. For contracts with multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation on a relative standalone selling price basis. Nature of Products and Services Systems System revenue represents the sale of a system or an upgrade of an existing system. A system consists of a console that incorporates a universal graphic user interface, a laser or other energy based module, control system software and high voltage electronics, as well as one Pearl Pearl Fractional The Company offers customers the ability to select the system that best fits their practice at the time of purchase and then to cost-effectively add applications to their system as their practice grows. This provides customers the flexibility to upgrade their systems whenever they choose and provides the Company with a source of additional Systems revenue. The Company concludes that the system or upgrade and the right to use the embedded software represent a single performance obligation as the software license is integral to the functionality of the system or upgrade. The Company does not enlighten enlighten enlighten For systems sold directly to end-customers that are credit approved, revenue is recognized when the Company transfers control to the end-customer, which occurs when the product is shipped to the customer or when the customer receives the product, depending on the nature of the arrangement. The Company recognizes revenue on cash basis for system sales to international direct end-customers that have not The Company typically receives payment for its system consoles and other accessories within 30 Skincare products The Company sells third third third Consumables (Other accessories) The Company treats its customers' purchases of replacement Titan truSculpt 3D truSculpt iD Juliet Secret RF truSculpt Extended contract services The Company offers post-warranty services to its customers through extended service contracts that cover parts and labor for a term of one, two, or three Training Sales of systems to customers include training on the use of the system to be provided within 180 not Customer Marketing Support In North America, the Company offers marketing and consulting phone support to its customers across all system platforms. These customer marketing support services include a practice development model and marketing training, performed remotely with ongoing phone consultations for six six Significant Judgments The Company combines two The Company is required to estimate the total consideration expected to be received from contracts with customers. In limited circumstances, the consideration expected to be received is variable based on the specific terms of the contract. The Company has not The Company determines standalone selling price ("SSP") for each performance obligation as follows: ● Systems: The SSPs for systems are based on directly observable sales in similar circumstances to similar customers. When SSP is not ● Training: SSP is based on observable price when sold on a standalone basis. ● Extended warranty/Service contracts: SSP is based on observable price when sold on a standalone basis (by customer type). ● Customer Marketing Support: SSP is estimated based on cost plus a margin. ● Set-up /Installation: Set-up or installation for all other systems, excluding the enlighten The calibration and installation service of the enlighten enlighten Loyalty Program The Company launched a customer loyalty program during the third 2018 fifth 5th Deferred Sales Commissions Incremental costs of obtaining a contract, including sales commissions, are capitalized and amortized on a straight-line basis over the expected customer relationship period. The Company uses the portfolio method to recognize the amortization expense related to these capitalized costs related to initial contracts and such expense is recognized over a period associated with the revenue of the related portfolio, which is generally two three Total net capitalized costs as of March 31, 2019 $5.1 $0.7 three March 31, 2019 |
Note 9 - Stockholders' Equity a
Note 9 - Stockholders' Equity and Stock-based Compensation Expense | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 9. As of March 31, 2019, 2004 1998 In 1998, 1998 1998 4,650,000 January 12, 2004, 2004 2004 1,750,000 2004 2004 1998 1998 2012, 2004 2.12 2004 Options granted under the 1998 2004 may may 2004 may 2004 four 25% first 1/48th The Company issued 19,892 March 31, 2019. 307,355 March 31, 2019. March 31, 2019 2019 The Company’s Board of Directors also granted its executive officers, senior management and certain employees 245,782 March 31, 2019. four 25% Under the 2004 66,523 three March 31, 2019, As of March 31, 2019, $14.9 1.9 may Activity under the 1998 2004 Options Outstanding Shares Available for Grant Number of Stock Options Outstanding Weighted- Average Exercise Price Balance, December 31, 2018 1,141,305 507,705 $ 20.52 Stock awards granted* (1,259,808) — — Options exercised — (16,644) 7.87 Options canceled 22,198 (22,198) 21.19 Stock awards canceled* 265,261 — — Balance, March 31, 2019 168,956 468,863 $ 20.94 * The Company has a “fungible share” provisi on in its 2004 Plan whereby for each full-value award (RSU/PSU) issued or canceled under the Plan requires the subtraction or add back of 2.12 2019 April 30, 2019, June 14, 2019. Non-Employee Stock-Based Compensation The Company granted 9,303 11,920 March 31, 2019, 3,384 December 31, 2018. March 31, 2019 2019 Stock-based Compensation Expense Stock-based compensation expense by department recognized during the three March 31, 2019 2018 Three Months Ended March 31, 2019 2018 Cost of revenue $ 269 $ 154 Sales and marketing 718 489 Research and development 263 191 General and administrative 57 854 Total stock-based compensation expense* $ 1,307 $ 1,688 *Included in the stock-based compensation expense is the charge in connection with the accelerated vesting of 4,667 January 4, 2019. |
Note 10 - Net Loss Per Share
Note 10 - Net Loss Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 10 . Net Loss Per Share Basic net income (loss) per share is computed using the weighted-average number of shares outstanding during the period. In periods of net income, diluted shares outstanding include the dilutive effect of in-the-money equity awards (stock options, restricted stock units, performance stock units and employee stock purchase plan contributions), which is calculated based on the average share price for each fiscal period using the treasury stock method. Diluted earnings per share is the same as basic earnings per share for the periods in which the Company had a net loss because the inclusion of outstanding common stock equivalents would be anti-dilutive. The following table sets forth the computation of basic and diluted net income (loss) and the weighted average number of shares used in computing basic and diluted net income (loss) per share (in thousands, except per share data): Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Numerator: Net loss $ (8,220) $ (2,032) Denominator: Weighted average shares of common stock outstanding used in computing net income (loss) per share, basic 14,017 13,587 Dilutive effect of incremental shares and share equivalents — — Weighted average shares of common stock outstanding used in computing net income (loss) per share, diluted 14,017 13,587 Net income (loss) per share: Net income (loss) per share, basic and diluted $ (0.59) $ (0.15) The following numbers of shares outstanding, prior to the application of the treasury stock method, were excluded from the computation of diluted net income (loss) per common share for the period presented because including them would have had an anti-dilutive effect (in thousands): Three Months Ended March 31, 2019 2018 Options to purchase common stock 485 807 Restricted stock units 366 396 Performance stock units 21 23 Employee stock purchase plan shares 66 34 Total 938 1,260 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | N ote 11 . Income Taxes The Company calculates the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to ordinary income or loss for the interim reporting period. When applicable, the year-to-date tax provision reflects adjustments from discrete tax items. The Company's income tax expense for the three March 31, 2019 100% For the three March 31, 2019, $115,000 $2.6 2018. three March 31, 2018 $1.5 The Company utilizes the asset and liability method of accounting for income taxes, under which deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not not March 31, 2019, December 31, 2018, 100% no three March 31, 2018 Significant management judgment is required in determining any valuation allowance recorded against deferred tax assets. In evaluating the ability to recover deferred tax assets, the Company considered available positive and negative evidence giving greater weight to its recent cumulative losses and lesser weight to its projected financial results due to the subjectivity involved in forecasting future periods. The Company also considered, commensurate with its objective verifiability, the forecast of future taxable income including the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. |
Note 12 - Leases
Note 12 - Leases | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Leases [Text Block] | Note 12. The Company has operating and finance leases for vehicles, office space and storages. The Company’s material operating leases consist of office space, as well as storage facilities. The Company’s leases generally have remaining terms of 1 10 5 The Company determines if a contract contains a lease at inception. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not not The Company recognizes expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce our right-of-use asset related to the lease. These are amortized through the right-of-use asset as reductions of expense over the lease term. Supplemental balance sheet information related to leases was as follows: Leases Classification March 31, 2019 Assets Right-of-use assets Operating lease assets $ 9,442 Finance lease Property and equipment, net * 842 Total leased assets $ 10,784 *Finance leases assets included in Property and equipment, net. Liabilities Operating lease liabilities Operating lease liabilities, current Operating lease liabilities 1,840 Operating lease liabilities , non-current Operating lease liabilities, net of current portion 7,759 Total Operating lease liabilities $ 9,599 Finance lease liabilities Finance lease liabilities, current Accrued liabilities * 614 Finance lease liabilities, non-current Operating lease liabilities 354 Total Finance lease liabilities $ 968 * Finance lease liabilities included in Accrued liabilities Lease cost as of March 31, 2019 Finance lease cost: Total amortization expense and interest for finance lease during the three March 31, 2019 $29 $2, Operating lease cost: Total operating lease expense during the three March 31, 2019 $724. Cash paid for amounts included in the measurement of lease liabilities during the three March 31, 2019 Operating cash flow from finance leases for the three $2. Financing cash flow from finance leases for the three $29. Operating cash flow from operating leases for the three $704. Maturities of lease liabilities Maturities of lease liabilities were as follows as of March 31, 2019 ( Year Ending March 31, Amount Remainder of 2019 $ 2,113 2020 2,852 2021 2,591 2022 2,559 2023 and thereafter 282 Total lease payments 10,397 Less: imputed interest 798 Present value of lease liabilities $ 9,599 Vehicle Leases As of March 31, 2019, Year Ending March 31, Amount Remainder of 2019 $ 573 2020 296 2021 161 2021 7 Total lease payments 1,037 Less: imputed interest 69 Present value of lease liabilities $ 968 As previously disclosed in our 2018 10 December 31, 2018: Facility Leases As of December 31, 2018, Year Ending December 31, Amount 2019 $ 3,011 2020 2,939 2021 2,564 2022 2,495 2023 and thereafter 214 Future minimum rental payments $ 11,223 Vehicle Leases - US As of December 31, 2018, Year Ending December 31, Amount 2019 $ 576 2020 287 2021 152 Future minimum lease payments $ 1,015 Weighted-average remaining lease term and discount rate, as of March 31, 2019, Lease Term and Discount Rate March 31, 2019 Weighted-average remaining lease term (years) Operating leases 3.7 Finance leases 3.0 Weighted-average discount rate Operating leases 4.4 % Finance leases 5.6 % |
Note 13 - Contingencies
Note 13 - Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13. The Company is named from time to time as a party to other legal proceedings, product liability, commercial disputes, employee disputes, and contractual lawsuits in the normal course of business. A liability and related charge are recorded to earnings in the Company’s consolidated financial statements for legal contingencies when the loss is considered probable and the amount can be reasonably estimated. The assessment is re-evaluated each accounting period and is based on all available information, including discussion with outside legal counsel. If a reasonable estimate of a known or probable loss cannot be made, but a range of probable losses can be estimated, the low-end of the range of losses is recognized if no not As of March 31, 2019 December 31, 2018, Nil $171,000 not |
Note 14 - Debt
Note 14 - Debt | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 14 . Debt On May 30, 2018, $25 May 30, 2021. On or about November 2, 2018, $15 $10 On or about, March 11, 2019, $15 no may twelve not $10 not 2.5 1.0. As of March 31, 2019, not |
Note 15 - Segment Reporting
Note 15 - Segment Reporting | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 15 . Segment reporting Segment reporting is based on the “management approach,” following the method that management organizes the company’s reportable segments for which separate financial information is made available to, and evaluated regularly by, the chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker ("CODM") is its Chief Executive Officer ("CEO"), who makes decisions on allocating resources and in assessing performance. The CEO reviews the Company's consolidated results as one one one The following table presents a summary of revenue by geography for the three March 31 2019 2018 Three Months Ended March 31, 2019 2018 Revenue mix by geography: United States $ 20,400 $ 21,136 Japan 5,294 3,555 Asia, excluding Japan 3,095 2,843 Europe 2,736 2,570 Rest of the world 4,501 4,021 Total consolidated revenue $ 36,026 $ 34,125 Revenue mix by product category: Products $ 27,209 $ 27,239 Consumables 1,945 769 Skincare 1,608 1,256 Total product revenue $ 30,762 $ 29,264 Service 5,264 4,861 Total consolidated revenue $ 36,026 $ 34,125 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Description of Operations and Principles of Consolidation Cutera, Inc. (“Cutera” or the “Company”) is a global provider of laser and energy-based aesthetic systems for practitioners worldwide. The Company designs, develops, manufactures, distributes and markets light and energy-based product platforms for use by physicians and other qualified practitioners, enabling them to offer safe and effective aesthetic treatments to their customers. The Company currently markets the following system platforms: excel, enlighten, Juliet, Secret RF, truSculpt xeo Titan, truSculpt 3D truSculpt iD Juliet Secret RF third Titan, truSculpt 3D truSculpt iD Headquartered in Brisbane, California, the Company has wholly-owned subsidiaries that are currently operational in Australia, Belgium, Canada, France, Germany, Hong Kong, Japan, Spain, Switzerland and the United Kingdom. The Company’s wholly owned subsidiary in Italy is currently dormant. These active subsidiaries market, sell and service the Company’s products outside of the United States. The Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All inter-company transactions and balances have been eliminated. |
Unaudited Interim Financial Information [Policy Text Block] | Unaudited Interim Financial Information In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements included in this report reflect all adjustments (consisting of only normal recurring adjustments) necessary for a fair statement of its financial position as of March 31, 2019 2018, three March 31, 2019, 2018. December 31, 2018 not not 10 December 31, 2018 March 18, 2019. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the accompanying notes, and the reported amounts of revenue and expenses during the reported periods. Actual results could differ materially from those estimates. On an ongoing basis, management evaluates its estimates, including those related to warranty obligations, sales commission, accounts receivable and sales allowances, valuation of inventories, fair value of goodwill, useful lives of property and equipment, incremental borrowing rates related to the Company’s leases, assumptions regarding variables used in calculating the fair value of the Company's equity awards, expected achievement of performance based vesting criteria, management performance bonuses, fair value of investments, the standalone selling price of the Company's products and services, the customer life and period of benefit used to capitalize and amortize contracts acquisition costs, variable consideration, contingent liabilities, recoverability of deferred tax assets, and effective income tax rates. Management bases estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. |
Risks and Uncertainties, Policy [Policy Text Block] | Risks and Uncertainties The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's future operating results and cause actual results to vary materially from expectations include, but are not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In February 2016, 2016 02, 842 July 2018, 2018 11, 2016 02 2018 11 not July 2018, 2018 10, 842, 2016 02. The Company adopted ASU 2016 02, January 1, 2019, not not The adoption of the new standard resulted in the recording of additional lease assets and lease liabilities of $10.3 $10.4 January 1, 2019, no See Notes 2 12 842. In June 2018, No. 2018 07, 718 1 2 3 606. December 15, 2018, no 606. January 1, 2019. no Other Accounting Pronouncements Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract In August 2018, No. 2018 15, 350 December 15, 2019 |
Note 2 - Effect of Adoption o_2
Note 2 - Effect of Adoption of the New Lease Standard (ASC Topic 842) on Condensed Consolidated Financial Statements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | As reported under Topic 842 Adjustments Balances under Prior GAAP Operating lease right-of-use assets $ 10,049 $ 10,049 $ — Operating lease liabilities (2,430) (2,430) — Other long-term liabilities* — 140 140 Operating lease liabilities, net of current portion (7,759) (7,759) — |
Note 3 - Cash, Cash Equivalen_2
Note 3 - Cash, Cash Equivalents and Marketable Investments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Cash and cash equivalents $ 19,158 $ — $ — $ 19,158 Marketable investments: U.S. government notes 1,405 — — 1,405 U.S. government agencies 2,694 — — 2,694 Municipal securities 202 — — 202 Commercial paper 2,437 — — 2,437 Corporate debt securities 1,204 — (3 ) 1,201 Total marketable investments 7,942 — (3 ) 7,939 Total cash, cash equivalents and marketable investments $ 27,100 $ — $ (3 ) $ 27,097 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Cash and cash equivalents $ 26,052 $ — $ — $ 26,052 Marketable investments: U.S. government notes 1,397 — — 1,397 U.S. government agencies 2,677 — — 2,677 Municipal securities 200 — — 200 Commercial paper 2,433 — — 2,433 Corporate debt securities 2,825 — (9 ) 2,816 Total marketable investments 9,532 — (9 ) 9,523 Total cash, cash equivalents and marketable investments $ 35,584 $ — $ (9 ) $ 35,575 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amount Due in less than one year $ 7,939 Due in 1 to 3 years — Total marketable investments $ 7,939 |
Note 4 - Fair Value of Financ_2
Note 4 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | March 31, 201 9 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 3,061 $ — $ — $ 3,061 Commercial paper — 2,693 — 2,693 Marketable investments: Available-for-sale securities — 7,939 — 7,939 Total assets at fair value $ 3,061 $ 10,632 $ — $ 13,693 December 31, 2018 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 3,036 $ — $ — $ 3,036 Commercial paper — 1,047 — 1,047 Marketable investments: Available-for-sale securities — 9,523 — 9,523 Total assets at fair value $ 3,036 $ 10,570 $ — $ 13,606 |
Note 5 - Balance Sheet Details
Note 5 - Balance Sheet Details (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 201 9 December 31, 2018 Raw materials $ 16,864 $ 16,991 Work in process 1,325 2,306 Finished goods 8,470 8,717 Total $ 26,659 $ 28,014 |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2019 December 31, 2018 Accrued payroll and related expenses $ 8,892 $ 9,377 Sales and marketing accruals 2,089 2,379 Warranty liability 4,064 4,666 Sales tax 2,970 2,935 Other 3,773 3,943 Total $ 21,788 $ 23,300 |
Note 6 - Warranty and Extende_2
Note 6 - Warranty and Extended Service Contracts (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Three Months Ended March 3 1 , 2019 2018 Beginning Balance $ 4,668 $ 3,508 Add: Accruals for warranties issued during the period 1,444 2,264 Less: Settlements made during the period (2,048) (2,399) Ending Balance $ 4,064 $ 3,373 |
Note 7 - Deferred Revenue (Tabl
Note 7 - Deferred Revenue (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Three Months Ended March 31, 2019 2018 Beginning Balance $ 11,855 $ 10,719 Add: Payments received 4,142 2,995 Less: Revenue recognized (3,522) (3,347) Ending Balance $ 12,475 $ 10,367 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity and Stock-based Compensation Expense (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Shares Available for Grant Number of Stock Options Outstanding Weighted- Average Exercise Price Balance, December 31, 2018 1,141,305 507,705 $ 20.52 Stock awards granted* (1,259,808) — — Options exercised — (16,644) 7.87 Options canceled 22,198 (22,198) 21.19 Stock awards canceled* 265,261 — — Balance, March 31, 2019 168,956 468,863 $ 20.94 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2019 2018 Cost of revenue $ 269 $ 154 Sales and marketing 718 489 Research and development 263 191 General and administrative 57 854 Total stock-based compensation expense* $ 1,307 $ 1,688 |
Note 10 - Net Loss Per Share (T
Note 10 - Net Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Numerator: Net loss $ (8,220) $ (2,032) Denominator: Weighted average shares of common stock outstanding used in computing net income (loss) per share, basic 14,017 13,587 Dilutive effect of incremental shares and share equivalents — — Weighted average shares of common stock outstanding used in computing net income (loss) per share, diluted 14,017 13,587 Net income (loss) per share: Net income (loss) per share, basic and diluted $ (0.59) $ (0.15) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended March 31, 2019 2018 Options to purchase common stock 485 807 Restricted stock units 366 396 Performance stock units 21 23 Employee stock purchase plan shares 66 34 Total 938 1,260 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Leases, Balance Sheet Information | Leases Classification March 31, 2019 Assets Right-of-use assets Operating lease assets $ 9,442 Finance lease Property and equipment, net * 842 Total leased assets $ 10,784 Liabilities Operating lease liabilities Operating lease liabilities, current Operating lease liabilities 1,840 Operating lease liabilities , non-current Operating lease liabilities, net of current portion 7,759 Total Operating lease liabilities $ 9,599 Finance lease liabilities Finance lease liabilities, current Accrued liabilities * 614 Finance lease liabilities, non-current Operating lease liabilities 354 Total Finance lease liabilities $ 968 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending March 31, Amount Remainder of 2019 $ 2,113 2020 2,852 2021 2,591 2022 2,559 2023 and thereafter 282 Total lease payments 10,397 Less: imputed interest 798 Present value of lease liabilities $ 9,599 |
Finance Lease, Liability, Maturity [Table Text Block] | Year Ending March 31, Amount Remainder of 2019 $ 573 2020 296 2021 161 2021 7 Total lease payments 1,037 Less: imputed interest 69 Present value of lease liabilities $ 968 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, Amount 2019 $ 3,011 2020 2,939 2021 2,564 2022 2,495 2023 and thereafter 214 Future minimum rental payments $ 11,223 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Year Ending December 31, Amount 2019 $ 576 2020 287 2021 152 Future minimum lease payments $ 1,015 |
Lease, Cost [Table Text Block] | Lease Term and Discount Rate March 31, 2019 Weighted-average remaining lease term (years) Operating leases 3.7 Finance leases 3.0 Weighted-average discount rate Operating leases 4.4 % Finance leases 5.6 % |
Note 15 - Segment Reporting (Ta
Note 15 - Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three Months Ended March 31, 2019 2018 Revenue mix by geography: United States $ 20,400 $ 21,136 Japan 5,294 3,555 Asia, excluding Japan 3,095 2,843 Europe 2,736 2,570 Rest of the world 4,501 4,021 Total consolidated revenue $ 36,026 $ 34,125 Revenue mix by product category: Products $ 27,209 $ 27,239 Consumables 1,945 769 Skincare 1,608 1,256 Total product revenue $ 30,762 $ 29,264 Service 5,264 4,861 Total consolidated revenue $ 36,026 $ 34,125 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 9,442 | $ 10,049 | |
Operating Lease, Liability, Total | $ 9,599 | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | 10,300 | ||
Operating Lease, Liability, Total | $ 10,400 |
Note 2 - Effect of Adoption o_3
Note 2 - Effect of Adoption of the New Lease Standard (ASC Topic 842) On Condensed Consolidated Financial Statements - Financial Statement Impact (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | ||
Operating Lease, Right-of-Use Asset | $ 9,442 | $ 10,049 | |||
Operating lease liabilities | (1,840) | (2,430) | |||
Other long-term liabilities* | 354 | [1] | 553 | ||
Operating lease liabilities, net of current portion | $ (7,759) | (7,759) | |||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Right-of-Use Asset | 10,049 | ||||
Operating lease liabilities | (2,430) | ||||
Other long-term liabilities* | [1] | 140 | |||
Operating lease liabilities, net of current portion | $ (7,759) | ||||
Previous Accounting Guidance [Member] | |||||
Operating Lease, Right-of-Use Asset | |||||
Operating lease liabilities | |||||
Other long-term liabilities* | [1] | 140 | |||
Operating lease liabilities, net of current portion | |||||
[1] | Deferred rent included in other long-term liabilities |
Note 3 - Cash, Cash Equivalen_3
Note 3 - Cash, Cash Equivalents and Marketable Investments (Details Textual) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax, Total | $ 3,000 | $ 9,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 |
Note 3 - Cash, Cash Equivalen_4
Note 3 - Cash, Cash Equivalents and Marketable Investments - Unrealized Gains and Losses Related to Marketable Investments (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents | $ 19,158,000 | $ 26,052,000 | $ 10,910,000 | $ 14,184,000 |
Cash and cash equivalents, Fair Market Value | 19,158,000 | 26,052,000 | ||
Marketable investments, Amortized Cost | 7,942,000 | 9,532,000 | ||
Marketable investments, Gross Unrealized Gains | ||||
Marketable investments, Gross Unrealized Losses | (3,000) | (9,000) | ||
Marketable investments, Fair Market Value | 7,939,000 | 9,523,000 | ||
Marketable investments, Amortized Cost | 27,100,000 | 35,584,000 | ||
Marketable investments, Fair Market Value | 27,097,000 | 35,575,000 | ||
Cash and cash equivalents, Fair Market Value | 19,158,000 | 26,052,000 | ||
Cash [Member] | ||||
Marketable investments, Amortized Cost | 2,694,000 | 2,677,000 | ||
Marketable investments, Gross Unrealized Gains | ||||
Marketable investments, Gross Unrealized Losses | ||||
Marketable investments, Fair Market Value | 2,694,000 | 2,677,000 | ||
Money Market Funds [Member] | ||||
Marketable investments, Amortized Cost | 2,437,000 | 2,433,000 | ||
Marketable investments, Gross Unrealized Gains | ||||
Marketable investments, Gross Unrealized Losses | ||||
Marketable investments, Fair Market Value | 2,437,000 | 2,433,000 | ||
US Treasury and Government [Member] | ||||
Marketable investments, Amortized Cost | 1,405,000 | 1,397,000 | ||
Marketable investments, Gross Unrealized Gains | ||||
Marketable investments, Gross Unrealized Losses | ||||
Marketable investments, Fair Market Value | 1,405,000 | 1,397,000 | ||
US States and Political Subdivisions Debt Securities [Member] | ||||
Marketable investments, Amortized Cost | 202,000 | 200,000 | ||
Marketable investments, Gross Unrealized Gains | ||||
Marketable investments, Gross Unrealized Losses | ||||
Marketable investments, Fair Market Value | 202,000 | 200,000 | ||
Corporate Debt Securities [Member] | ||||
Marketable investments, Amortized Cost | 1,204,000 | 2,825,000 | ||
Marketable investments, Gross Unrealized Gains | ||||
Marketable investments, Gross Unrealized Losses | (3,000) | (9,000) | ||
Marketable investments, Fair Market Value | $ 1,201,000 | $ 2,816,000 |
Note 3 - Cash, Cash Equivalen_5
Note 3 - Cash, Cash Equivalents and Marketable Investments - Maturities of Available-for-sale Securities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Due in less than one year | $ 7,939 |
Due in 1 to 3 years | |
Total marketable investments | $ 7,939 |
Note 4 - Fair Value of Financ_3
Note 4 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents, Fair Market Value | $ 19,158 | $ 26,052 |
Available-for-sale securities | 7,939 | 9,523 |
Money Market Funds [Member] | ||
Available-for-sale securities | 2,437 | 2,433 |
Fair Value, Recurring [Member] | ||
Available-for-sale securities | 7,939 | 9,523 |
Total assets at fair value | 13,693 | 13,606 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets at fair value | 3,061 | 3,036 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 7,939 | 9,523 |
Total assets at fair value | 10,632 | 10,570 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets at fair value | ||
Fair Value, Recurring [Member] | Money Market Funds [Member] | ||
Cash and cash equivalents, Fair Market Value | 3,061 | 3,036 |
Fair Value, Recurring [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents, Fair Market Value | 3,061 | 3,036 |
Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Cash and cash equivalents, Fair Market Value | 2,693 | 1,047 |
Fair Value, Recurring [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents, Fair Market Value | ||
Fair Value, Recurring [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents, Fair Market Value | 2,693 | 1,047 |
Fair Value, Recurring [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents, Fair Market Value |
Note 5 - Balance Sheet Detail_2
Note 5 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Loss Contingency Accrual, Product Liability, Net, Total | $ 5,000 | |
Product Liability Accrual, Period Expense | $ 100 | 1,100 |
Extended Product Warranty Accrual, Current | 2,667 | 3,159 |
Extended Product Warranty Accrual, Decrease for Payments | 500 | |
Product Liability Accrual, Component Amount | $ 600 | |
Accrued Liabilities, Current [Member] | ||
Loss Contingency Accrual, Product Liability, Net, Total | $ 700 |
Note 5 - Balance Sheet Detail_3
Note 5 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Raw materials | $ 16,864 | $ 16,991 |
Work in process | 1,325 | 2,306 |
Finished goods | 8,470 | 8,717 |
Total | $ 26,659 | $ 28,014 |
Note 5 - Balance Sheet Detail_4
Note 5 - Balance Sheet Details - Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accrued payroll and related expenses | $ 8,892 | $ 9,377 |
Sales and marketing accruals | 2,089 | 2,379 |
Warranty liability | 4,064 | 4,666 |
Sales tax | 2,970 | 2,935 |
Other | 3,773 | 3,943 |
Total | $ 21,788 | $ 23,300 |
Note 6 - Warranty and Extende_3
Note 6 - Warranty and Extended Service Contracts (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Extended Product Warranty Accrual, Current | $ 2,667 | $ 3,159 | |
Standard Product Warranty Accrual, Decrease for Payments | 2,048 | $ 2,399 | |
Extended Product Warranty Accrual, Decrease for Payments | $ 500 |
Note 6 - Warranty and Extende_4
Note 6 - Warranty and Extended Services Contract - Summary of Warranties (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Beginning Balance | $ 4,668 | $ 3,508 |
Add: Accruals for warranties issued during the period | 1,444 | 2,264 |
Less: Settlements made during the period | (2,048) | (2,399) |
Ending Balance | $ 4,064 | $ 3,373 |
Note 7 - Deferred Revenue (Deta
Note 7 - Deferred Revenue (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue, Remaining Performance Obligation, Percentage | 78.00% | |
Revenue, Remaining Performance Obligation, Amount | $ 13.1 | |
Deferred Revenue Costs Incurred | $ 2 | $ 1.9 |
Note 7 - Deferred Revenue - Sum
Note 7 - Deferred Revenue - Summary of Deferred Service Contract Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Beginning Balance | $ 11,855 | $ 10,719 |
Add: Payments received | 4,142 | 2,995 |
Less: Revenue recognized | (3,522) | (3,347) |
Ending Balance | $ 12,475 | $ 10,367 |
Note 8 - Revenue (Details Textu
Note 8 - Revenue (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Selling and Marketing Expense [Member] | ||
Capitalized Contract Cost, Amortization | $ 0.7 | |
Other Assets [Member] | ||
Capitalized Contract Cost, Net, Total | $ 5.1 | |
Transferred over Time [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax, Percent of Total Revenues | 15.00% | 14.00% |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity and Stock-based Compensation Expense (Details Textual) - USD ($) $ in Millions | Jan. 04, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 1998 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 16,644 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 14.9 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 328 days | |||
Chief Executive Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 4,667 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 245,782 | |||
Restricted Stock Units (RSUs) [Member] | Non-employee Directors [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 19,892 | |||
Restricted Stock Units (RSUs) [Member] | Non-employees [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,303 | 3,384 | ||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 307,355 | |||
Performance Shares [Member] | Non-employees [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 11,920 | |||
1998 Stock Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,650,000 | |||
Two Thousand Four Equity Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,750,000 | |||
Number of Stock Awards Counted for Every Share Granted or Canceled | 2.12 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 66,523 | |||
Two Thousand Four Equity Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Option Exercisable in Hundredths | 25.00% | |||
Two Thousand Four Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% |
Note 9 - Stockholders' Equity_4
Note 9 - Stockholders' Equity and Stock-based Compensation Expense - Activity Under the 2004 Equity Incentive Plan (Details) | 3 Months Ended | |
Mar. 31, 2019$ / sharesshares | ||
Balances, shares available for grant (in shares) | 1,141,305 | |
Balances, stock options outstanding (in shares) | 507,705 | |
Balances, weighted-average exercise price (in dollars per share) | $ / shares | $ 20.52 | |
Stock awards granted, shares available for grant (in shares) | (1,259,808) | |
Stock awards granted, stock options outstanding (in shares) | [1] | |
Stock awards granted, weighted-average exercise price (in dollars per share) | $ / shares | [1] | |
Options exercised, stock options outstanding (in shares) | (16,644) | |
Options exercised, weighted-average exercise price (in dollars per share) | $ / shares | $ 7.87 | |
Options canceled (in shares) | 22,198 | |
Options canceled, stock options outstanding (in shares) | (22,198) | |
Options canceled, weighted-average exercise price (in dollars per share) | $ / shares | $ 21.19 | |
Stock awards canceled, shares available for grant (in shares) | 265,261 | [1] |
Balances, shares available for grant (in shares) | 168,956 | |
Balances, stock options outstanding (in shares) | 468,863 | |
Balances, weighted-average exercise price (in dollars per share) | $ / shares | $ 20.94 | |
[1] | The Company has a "fungible share" provision in its 2004 Plan whereby for each full-value award (RSU/PSU) issued or canceled under the Plan requires the subtraction or add back of 2.12 shares from or to the Shares Available for Grant, respectively. In the Company's 2019 Proxy Statement, filed on April 30, 2019, the Company is seeking stockholder approval to remove the “fungible share” provision for awards granted on or after June 14, 2019. |
Note 9 - Stockholders' Equity,
Note 9 - Stockholders' Equity, Stock Plans and Stock-based Compensation Expense - Stock-based Compensation Expense by Department (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Allocated Share Based Compensation Expense | [1] | $ 1,307 | $ 1,688 |
Cost of Sales [Member] | |||
Allocated Share Based Compensation Expense | 269 | 154 | |
Selling and Marketing Expense [Member] | |||
Allocated Share Based Compensation Expense | 718 | 489 | |
Research and Development Expense [Member] | |||
Allocated Share Based Compensation Expense | 263 | 191 | |
General and Administrative Expense [Member] | |||
Allocated Share Based Compensation Expense | $ 57 | $ 854 | |
[1] | Included in the stock-based compensation expense is the charge in connection with the accelerated vesting of 4,667 shares of the Company's former CEO, in accordance with his separation agreement dated January 4, 2019. |
Note 10 - Net Loss Per Share -
Note 10 - Net Loss Per Share - Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net loss | $ (8,220) | $ (2,032) |
Weighted average shares of common stock outstanding used in computing net income (loss) per share, basic (in shares) | 14,017 | 13,587 |
Dilutive effect of incremental shares and share equivalents (in shares) | ||
Weighted average shares of common stock outstanding used in computing net income (loss) per share, diluted (in shares) | 14,017 | 13,587 |
Net income (loss) per share, basic and diluted (in dollars per share) | $ (0.59) | $ (0.15) |
Note 10 - Net Loss Per Share _2
Note 10 - Net Loss Per Share - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Antidilutive Securities (in shares) | 938 | 1,260 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities (in shares) | 485 | 807 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities (in shares) | 366 | 396 |
Performance Shares [Member] | ||
Antidilutive Securities (in shares) | 21 | 23 |
ESPP [Member] | ||
Antidilutive Securities (in shares) | 66 | 34 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Expense (Benefit), Total | $ 115,000 | $ (2,619,000) |
Income Tax Benefit for Excess Tax Deductions Related to Employee Share-based Compensation | 1,500,000 | |
Deferred Tax Assets, Valuation Allowance, Total | $ 0 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Lessee, Operating Lease, Renewal Term | 5 years |
Finance Lease, Right-of-Use Asset, Amortization | $ 29 |
Finance Lease, Interest Expense | 2 |
Operating Lease, Expense | 724 |
Finance Lease, Interest Payment on Liability | 2 |
Finance Lease, Principal Payments | 29 |
Operating Lease, Payments | $ 704 |
Minimum [Member] | |
Lessee, Leases, Remaining Term | 1 year |
Maximum [Member] | |
Lessee, Leases, Remaining Term | 10 years |
Note 12 - Leases - Balance Shee
Note 12 - Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Operating Lease, Right-of-Use Asset | $ 9,442 | $ 10,049 | ||
Total leased assets | 10,784 | |||
Operating lease liabilities, current | 1,840 | 2,430 | ||
Operating lease liabilities , non-current | 7,759 | $ 7,759 | ||
Total Finance lease liabilities | 968 | |||
Operating Lease Assets [Member] | ||||
Operating Lease, Right-of-Use Asset | 9,442 | |||
Operating Lease Liabilities [Member] | ||||
Operating lease liabilities, current | 1,840 | |||
Property and Equipment, Net [Member] | ||||
Finance lease | [1] | 842 | ||
Operating Lease Liabilities, Net of Current Portion [Member] | ||||
Operating lease liabilities , non-current | 7,759 | |||
Accrued Liabilities [Member] | ||||
Finance lease liabilities, current | [2] | 614 | ||
Other Noncurrent Liabilities [Member] | ||||
Finance lease liabilities, non-current | $ 354 | |||
[1] | Finance leases assets included in Property and equipment, net. | |||
[2] | Finance lease liabilities included in Accrued liabilities |
Note 12 - Leases - Maturities o
Note 12 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Remainder of 2019 | $ 2,113 |
2020 | 2,852 |
2021 | 2,591 |
2022 | 2,559 |
2023 and thereafter | 282 |
Total lease payments | 10,397 |
Less: imputed interest | 798 |
Present value of lease liabilities | $ 9,599 |
Note 12 - Leases - Maturities_2
Note 12 - Leases - Maturities of Finance Liabilities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Remainder of 2019 | $ 573 |
2020 | 296 |
2021 | 161 |
2021 | 7 |
Total lease payments | 1,037 |
Less: imputed interest | 69 |
Present value of lease liabilities | $ 968 |
Note 12 - Leases - Minimum Leas
Note 12 - Leases - Minimum Lease and Other Leased Assets Under Long-term Non-cancellable Operating Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 3,011 |
2020 | 2,939 |
2021 | 2,564 |
2022 | 2,495 |
2023 and thereafter | 214 |
Future minimum rental payments | $ 11,223 |
Note 12 - Leases - Minimum Le_2
Note 12 - Leases - Minimum Lease Payments for Leased Vehicles Under Long-term Non-cancellable Capital Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 576 |
2020 | 287 |
2021 | 152 |
Future minimum lease payments | $ 1,015 |
Note 12 - Leases - Lease Inform
Note 12 - Leases - Lease Information (Details) | Mar. 31, 2019 |
Operating leases (Year) | 3 years 255 days |
Finance leases (Year) | 3 years |
Operating leases | 4.40% |
Finance leases | 5.60% |
Note 13 - Contingencies (Detail
Note 13 - Contingencies (Details Textual) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Estimated Litigation Liability | $ 0 | $ 171,000 |
Note 14 - Debt (Details Textual
Note 14 - Debt (Details Textual) $ in Thousands | Mar. 11, 2019USD ($) | Mar. 31, 2019USD ($) | Nov. 02, 2018USD ($) | May 30, 2018USD ($) |
Revolving Line of Credit [Member] | Wells Fargo [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 | |||
Revised Revolving Line of Credit [Member] | Wells Fargo [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15,000 | |||
Line of Credit Facility, Additional Requestable Maximum Borrowing Capacity | $ 10,000 | |||
Debt Instrument, Debt Covenant, Minimum Unrestricted Cash Balance | $ 15,000 | |||
Revolving Credit Facility [Member] | ||||
Debt Instrument, Minimum Adjusted EBITDA | $ 10,000 | |||
Leverage Ratio, Maximum | 2.5 | |||
Long-term Line of Credit, Total | $ 0 |
Note 15 - Segment Reporting (De
Note 15 - Segment Reporting (Details Textual) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Number of Operating Segments | 1 | 1 |
Note 15 - Segment Reporting - R
Note 15 - Segment Reporting - Revenue by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue | $ 36,026 | $ 34,125 |
Products Excluding Consumables and Skincare [Member] | ||
Revenue | 27,209 | 27,239 |
Hand Piece Refills [Member] | ||
Revenue | 1,945 | 769 |
Skincare [Member] | ||
Revenue | 1,608 | 1,256 |
Product [Member] | ||
Revenue | 30,762 | 29,264 |
Service [Member] | ||
Revenue | 5,264 | 4,861 |
UNITED STATES | ||
Revenue | 20,400 | 21,136 |
JAPAN | ||
Revenue | 5,294 | 3,555 |
Asia, Excluding Japan [Member] | ||
Revenue | 3,095 | 2,843 |
Europe [Member] | ||
Revenue | 2,736 | 2,570 |
Rest of World [Member] | ||
Revenue | $ 4,501 | $ 4,021 |