Cardiovascular Systems (CSII) 10-Q 1 Feb 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2018	Jan. 25, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
Trading Symbol	CSII
Entity Registrant Name	CARDIOVASCULAR SYSTEMS INC
Entity Central Index Key	1,180,145
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		34,823,048

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Current assets
Cash and cash equivalents	$ 118,772	$ 116,260
Accounts receivable, net	29,906	31,225
Inventories	19,679	16,605
Marketable securities	434	544
Prepaid expenses and other current assets	1,944	2,977
Total current assets	170,735	167,611
Property and equipment, net	28,230	27,744
Patents, net	5,307	5,231
Other assets	2,915	2,766
Total assets	207,187	203,352
Current liabilities
Accounts payable	12,998	10,441
Accrued expenses	24,472	25,776
Deferred revenue current	1,519	1,243
Total current liabilities	38,989	37,460
Long-term liabilities
Financing obligation	21,025	21,064
Deferred revenue noncurrent	7,700	8,946
Other liabilities	875	1,412
Total liabilities	68,589	68,882
Commitments and contingencies (see Note 7)
Common stock, $0.001 par value; authorized 100,000,000 common shares; issued and outstanding 34,703,282 at September 30, 2018 and 33,360,032 at June 30, 2018, respectively	34	33
Additional paid in capital	469,827	461,927
Accumulated other comprehensive income	0	101
Accumulated deficit	(331,263)	(327,591)
Total stockholders’ equity	138,598	134,470
Total liabilities and stockholders’ equity	$ 207,187	$ 203,352

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2018	Jun. 30, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	34,824,366	33,360,032
Common stock, shares outstanding	34,824,366	33,360,032

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net revenues	$ 60,206	$ 52,628	$ 116,472	$ 102,304
Cost of goods sold	11,477	9,499	22,052	18,701
Gross profit	48,729	43,129	94,420	83,603
Expenses:
Selling, general and administrative	41,107	37,008	82,349	72,926
Research and development	7,238	6,396	14,655	12,704
Total expenses	48,345	43,404	97,004	85,630
Income (loss) from operations	384	(275)	(2,584)	(2,027)
Interest expense	422	430	846	862
Interest income and other, net	(563)	(325)	(1,100)	(565)
Total other (income) expense, net	(141)	105	(254)	297
Income (loss) before income taxes	525	(380)	(2,330)	(2,324)
Provision for income taxes	33	33	66	66
Net income (loss)	$ 492	$ (413)	$ (2,396)	$ (2,390)
Basic and diluted earnings per share
Basic earnings per share	$ 0.01	$ (0.01)	$ (0.07)	$ (0.07)
Diluted earnings per share	$ 0.01	$ (0.01)	$ (0.07)	$ (0.07)
Basic and diluted weighted average shares outstanding
Basic weighted average shares outstanding	33,507,843	33,112,138	33,466,454	33,040,425
Diluted weighted average shares outstanding	34,120,639	33,112,138	33,466,454	33,040,425

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net loss	$ 492	$ (413)	$ (2,396)	$ (2,390)
Other comprehensive income:
Unrealized gain on available for sale securities	0	16	0	28
Adjustment for net gain realized and included in other income, net	0	(8)	0	(16)
Total change in unrealized gain on available for sale securities	0	8	0	12
Comprehensive loss	$ 492	$ (405)	$ (2,396)	$ (2,378)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance, value at Jun. 30, 2017	$ 118,389	$ 33	$ 447,559	$ 100	$ (329,303)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation related to restricted stock awards, net, value	9,546	0	9,546	0	0
Exercise of stock option, value	514	0	514	0	0
Employee stock purchase plan activity	4,308	0	4,308	0	0
Unrealized gain on marketable securities	35	0	0	35	0
Net gain reclassified from accumulated other comprehensive income	(34)	0	0	(34)	0
Net loss	1,712	0	0	0	1,712
Ending balance, value at Jun. 30, 2018	134,470	33	461,927	101	(327,591)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact from adoption of ASU 2016-01 (See Note 5)				(101)	101
Stock-based compensation related to restricted stock awards, net, value	5,604	1	5,603	0	0
Adjustments Related to Tax Withholding for Share-based Compensation	(1,377)	0	0	0	(1,377)
Exercise of stock option, value	196	0	196	0	0
Employee stock purchase plan activity	2,101	0	2,101	0	0
Net gain reclassified from accumulated other comprehensive income	0
Net loss	(2,396)	0	0	0	(2,396)
Ending balance, value at Dec. 31, 2018	$ 138,598	$ 34	$ 469,827	$ 0	$ (331,263)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2018	Jun. 30, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Beginning of Period [Abstract]
Stock option exercise price (usd per share)	$ 8.75
Minimum
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Beginning of Period [Abstract]
Stock option exercise price (usd per share)		$ 7.90
Maximum
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Beginning of Period [Abstract]
Stock option exercise price (usd per share)		$ 12.15

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net loss	$ (2,396)	$ (2,390)
Adjustments to reconcile net loss to net cash used in operations
Depreciation of property and equipment	1,577	1,988
Amortization and write-off of patents	108	102
Write-off of patent costs	300	26
Provision for (recovery of) doubtful accounts (including note receivable)	100
Provision for (recovery of) doubtful accounts (including note receivable)		(93)
Stock-based compensation	5,926	5,740
Changes in assets and liabilities
Accounts receivable	1,219	561
Inventories	(3,074)	(504)
Prepaid expenses and other assets	1,125	2,792
Accounts payable	1,479	(608)
Accrued expenses and other liabilities	(1,868)	(8,439)
Deferred revenue	(970)	0
Net cash used in operating activities	3,526	(825)
Cash flows from investing activities
Purchases of property and equipment	(994)	(1,269)
Proceeds from convertible note receivable	0	143
Sales of marketable securities	97	96
Costs incurred in connection with patents	(475)	(622)
Net cash used in investing activities	(1,372)	(1,652)
Cash flows from financing activities
Proceeds from employee stock purchase plan	1,551	1,385
Payment of employee taxes related to vested restricted stock	(1,377)	0
Exercise of stock options	196	513
Proceeds from (Payments for) Other Financing Activities	(12)	12
Net cash (used in) provided by financing activities	358	1,910
Net change in cash and cash equivalents	2,512	(567)
Cash and cash equivalents
Beginning of period	116,260	107,912
End of period	$ 118,772	$ 107,345

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Cardiovascular Systems, Inc. (the “Company”), based in St. Paul, Minnesota, is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The Company’s Orbital Atherectomy Systems (“OAS”) treat calcified and fibrotic plaque in arterial vessels throughout the leg and heart in a few minutes of treatment time, and address many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives. The Company prepared the unaudited interim consolidated financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. The year-end consolidated balance sheet was derived from the Company’s audited consolidated financial statements, but does not include all disclosures as required by GAAP. These interim consolidated financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the Company’s consolidated financial position, the results of its operations, its changes in stockholders’ equity, and its cash flows for the interim periods. These interim consolidated financial statements should be read in conjunction with the consolidated annual financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company with the SEC on August 23, 2018. The nature of the Company’s business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases.” The guidance requires lessees to recognize the assets and liabilities that arise from leases on the balance sheet. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those annual periods, and should be applied using a modified retrospective approach. The guidance is effective for the Company on July 1, 2019. The Company will elect the prospective transition method with the effects of adoption recognized as a cumulative effect adjustment to the opening balance of retained earnings in the Company's fiscal 2020 financial statements, with no restatement of comparative periods. The Company will also elect the package of three practical expedients permitted under the transition guidance within the new standard, which among other things, allows the Company to carryforward the historical lease classification. The Company is currently assessing the impact of adopting this guidance on its consolidated financial statements and related disclosures. The Company expects to record right of use assets and lease liabilities, which may be material, on its consolidated balance sheet upon adoption of this standard and is still assessing the impact to its results of operations and cash flows.

Selected Consolidated Financial

Selected Consolidated Financial Statement Information	6 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Selected Consolidated Financial Statement Information	2. Selected Consolidated Financial Statement Information Accounts Receivable, Net Accounts receivable consists of the following: December 31, June 30, 2018 2018 Accounts receivable $ 30,642 $ 32,025 Less: Allowance for doubtful accounts (736 ) (800 ) Accounts receivable, net $ 29,906 $ 31,225 Inventories Inventories consist of the following: December 31, June 30, 2018 2018 Raw materials $ 6,578 $ 6,820 Work in process 1,160 1,315 Finished goods 11,941 8,470 Inventories $ 19,679 $ 16,605 Property and Equipment, Net Property and equipment consists of the following: December 31, June 30, 2018 2018 Land $ 500 $ 500 Building 22,420 22,420 Equipment 16,879 16,510 Furniture 2,724 2,709 Leasehold improvements 540 438 Construction in progress 2,666 1,110 45,729 43,687 Less: Accumulated depreciation (17,499 ) (15,943 ) Property and equipment, net $ 28,230 $ 27,744 Accrued Expenses Accrued expenses consist of the following: December 31, June 30, 2018 2018 Salaries and bonus $ 6,703 $ 6,624 Commissions 5,896 7,234 Accrued vacation 4,015 3,557 Accrued excise, sales and other taxes 3,555 3,522 Legal settlement 1,395 1,847 Clinical studies 1,145 1,422 Other accrued expenses 1,763 1,570 Accrued expenses $ 24,472 $ 25,776

Revenue

Revenue	6 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue Effective July 1, 2018 the Company adopted Accounting Standards Codification (“ASC”) Topic 606 - Revenue from Contracts with Customers using the modified retrospective adoption method. Adoption did not have a material impact on the Company’s financial statements. The Company sells its peripheral and coronary products to customers through a direct sales force in the United States and through distributors internationally and has no material concentration of credit risk or significant payment terms extended to customers and, therefore, the Company does not adjust the promised amount of consideration for the effects of a significant financing component. Sales, use, value-added, and other excise taxes are not recognized in revenue. The Company has elected to present revenue net of sales taxes and other similar taxes. The following table disaggregates the Company’s net revenues by product category and geography for the following periods: Three Months Ended Six Months Ended Product Category 2018 2017 2018 2017 Peripheral $ 44,236 $ 39,187 $ 85,468 $ 77,342 Coronary 15,970 13,441 31,004 24,962 Total net revenues $ 60,206 $ 52,628 $ 116,472 $ 102,304 Geography United States $ 58,596 $ 52,628 $ 113,520 $ 102,304 International 1,610 — 2,952 — Total net revenues $ 60,206 $ 52,628 $ 116,472 $ 102,304 Performance Obligations The majority of the Company’s revenues are from customer arrangements containing a single performance obligation to transfer peripheral and coronary products, and thus revenue is recognized at a point in time when control is transferred. This generally occurs upon shipment or upon delivery to the customer site, based on the contract terms. Shipping and handling activities are considered to be fulfillment activities and are not considered to be a separate performance obligation. The Company does not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The Company did not recognize any material revenue in the current reporting period for performance obligations that were fully satisfied in previous periods. Significant Judgments The Company has an exclusive distribution agreement with Medikit to sell its coronary and peripheral OAS in Japan. To secure exclusive distribution rights, Medikit made an upfront payment of $10,000 to the Company, which is partially refundable based on the occurrence of certain events during the term of the agreement. The Company has classified the payment as current or long-term based on its expectation of when revenue will be recognized and this expectation is re-evaluated on a quarterly basis. Medikit also provides advance payments for orders under the terms of the agreement, and, therefore, deferred revenue is recorded until products are accepted by Medikit. Revenue of $ 398 was recognized in the six months ended December 31, 2018 that was deferred as of June 30, 2018 . Revenue is recognized at the transaction price to which the Company expects to be entitled. The Company offers customers certain volume-based rebates, discounts, and incentives. Estimates of variable consideration from these items are taken into account using the most-likely amount method based on contractual provisions, the Company’s historical experience, and forecasted customer buying patterns. These items are recognized as a reduction to revenue in the period the revenue is recognized and recorded as a liability. As of December 31, 2018 and June 30, 2018 , the Company had a liability of $ 1,803 and $ 1,398 , respectively, related to these items and recorded within accounts payable on the consolidated balance sheet. Return and warranty obligations vary by the specific terms of agreements with customers. The Company generally does not provide customers with a right of return. The Company has a limited warranty provision for goods that are nonconforming or defective at the time of shipment, which is estimated based on historical experience. Contract Costs Commissions are earned by the Company’s direct sales force based on sales of the Company’s OAS devices and other products. The Company applies the practical expedient and recognizes commissions as an expense when incurred because the amortization period of the asset that the Company would have otherwise recognized is one year or less.

Debt

Debt	6 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure	4. Debt Revolving Credit Facility In March 2017, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with Silicon Valley Bank (“SVB”). The Loan Agreement provides for a senior, secured revolving credit facility (the “Revolver”) of $40,000 (the “Maximum Dollar Amount”). Advances under the Revolver may be made from time to time up to the Maximum Dollar Amount, subject to certain borrowing limitations. The Revolver has a maturity date of March 31, 2020 and bears interest at a floating per annum rate equal to the Wall Street Journal prime rate, less 0.25% . Interest on borrowings is due monthly and the principal balance is due at maturity. Borrowings up to $10,000 are available on a non-formula basis. Borrowings above $10,000 are based on (i) 85% of eligible domestic accounts receivable, and (ii) the lesser of 50% of eligible inventory or $5,000 , subject to adjustment as defined in the Loan Agreement. Upon the Revolver’s maturity, any outstanding principal balance, unpaid accrued interest, and all other obligations under the Revolver will be due and payable. The Company will incur a fee equal to 1% of the Maximum Dollar Amount upon termination of the Loan Agreement or the Revolver for any reason prior to the maturity date, unless refinanced with SVB. The Company’s obligations under the Loan Agreement are secured by certain of the Company’s assets, including, among other things, accounts receivable, deposit accounts, inventory, equipment, general intangibles and records pertaining to the foregoing. The collateral does not include the Company’s intellectual property, but the Company has agreed not to encumber its intellectual property without the consent of SVB. The Loan Agreement contains customary covenants limiting the Company’s ability to, among other things, incur debt or liens, make certain investments and loans, enter into transactions with affiliates, undergo certain fundamental changes, dispose of assets, or change the nature of its business. In addition, the Loan Agreement contains financial covenants requiring the Company to maintain, at all times when any amounts are outstanding under the Revolver, either (i) minimum unrestricted cash at SVB and unused availability on the Revolver of at least $10,000 or (ii) minimum trailing three-month Adjusted EBITDA of $1,000 . If the Company does not comply with the various covenants under the Loan Agreement, the interest rate on outstanding amounts will increase by 5% and SVB may, subject to various customary cure rights, decline to provide additional advances under the Revolver, require the immediate payment of all amounts outstanding under the Revolver, and foreclose on all collateral. Under the Loan Agreement, the Company paid SVB a non-refundable commitment fee of $80 , which will be amortized to interest expense over the term of the Loan Agreement. The Company is required to pay a fee equal to 0.35% per annum on the unused portion of the Revolver, payable quarterly in arrears. The Company is not obligated to draw any funds under the Revolver and has not done so under the Revolver since entering into the Loan Agreement. No amounts are outstanding as of December 31, 2018 . Financing Obligation In March 2017, in connection with the sale of the Company’s headquarters facility in St. Paul, Minnesota (the “Facility”), the Company entered into a Lease Agreement to lease the Facility. The Lease Agreement has an initial term of fifteen years, with four consecutive renewal options of five years each at the Company’s option, with a base annual rent in the first year of $1,638 and annual escalations of 3% thereafter. Rent during subsequent renewal terms will be at the then fair market rental rate. As the lease terms resulted in a capital lease classification, the Company accounted for the sale and leaseback of the Facility as a financing transaction where the assets remain on the Company’s balance sheet and a financing obligation was recorded for $20,944 . As lease payments are made, they will be allocated between interest expense and a reduction of the financing obligation, resulting in a value of the financing obligation that is equivalent to the net book value of the assets at the end of the lease term. The effective interest rate is 7.89% . At the end of the lease (including any renewal option terms), the Company will remove the assets and financing obligation from its balance sheet. Payments under the initial term of the Lease Agreement as of December 31, 2018 are as follows: Six months ending June 30, 2019 $ 856 Fiscal 2020 1,750 Fiscal 2021 1,803 Fiscal 2022 1,857 Fiscal 2023 1,913 Thereafter 19,375 $ 27,554

Investments

Investments	6 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Investments	5. Investments The following table provides information by level for the Company’s marketable securities that were measured at fair value on a recurring basis: Fair Value Measurements as of December 31, 2018 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Mutual funds $ 434 $ 129 $ 305 $ — Total short-term investments $ 434 $ 129 $ 305 $ — Fair Value Measurements as of June 30, 2018 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Mutual funds $ 544 $ 199 $ 345 $ — Total short-term investments $ 544 $ 199 $ 345 $ — Effective July 1, 2018 the Company adopted the provisions of ASU 2016-01. Unrealized gains and losses of marketable securities previously recognized in other comprehensive income will now be recognized in net income as a component of other income. Upon adoption, the Company recorded a cumulative-effect reclassification adjustment of $101 from accumulated other comprehensive income to the opening balance of retained earnings as of July 1, 2018. During the three and six months ended December 31, 2018 and 2017 , there were no purchases of marketable securities. There was $46 and $97 of marketable securities that were sold during the three and six months ended December 31, 2018 , respectively. There was $49 and $96 of marketable securities that were sold during the three and six months ended December 31, 2017 , respectively. The Company’s marketable securities classified within Level 1 are valued using real-time quotes for transactions in active exchange markets. Marketable securities within Level 2 are valued using readily available pricing sources. There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy during the six months ended December 31, 2018 . Any transfers between levels would be recognized on the date of the event or when a change in circumstances causes a transfer. The Company holds an equity investment that does not have a readily determined fair value. The Company has elected to measure this investment at cost minus impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is reviewed each reporting period by performing a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. As of December 31, 2018 and June 30, 2018 , the carrying value of the investment was $2,538 . During the six months ended December 31, 2018 , no impairment indicators were noted. The investment is recorded within other long term assets on the consolidated balance sheet. The Company is committed to purchasing additional shares of this investment for an estimated $3,055 , which is expected to occur in the Company’s fiscal third quarter.

Stock Options and Restricted St

Stock Options and Restricted Stock Awards	6 Months Ended
	Dec. 31, 2018
Share-based Arrangements with Employees and Nonemployees [Abstract]
Stock Options and Restricted Stock Awards	6. Stock Options and Restricted Stock Awards On November 15, 2017, the Company’s stockholders approved the 2017 Equity Incentive Plan (the “2017 Plan”), for the purpose of granting equity awards to employees, directors and consultants. The 2017 Plan replaced the 2014 Equity Incentive Plan (the “2014 Plan”), and no further equity awards may be granted under the 2014 Plan or the 2007 Equity Incentive Plan (the “2007 Plan”) (the 2017 Plan, 2014 Plan and the 2007 Plan are collectively referred to as the “Plans”). Equity awards classified as restricted stock and performance-based restricted stock are treated as issued shares when granted; however, these shares are not included in the computation of basic weighted average shares outstanding. When shares vest, unless the holder elects to pay the payroll tax liability in cash or through a sale of shares, the Company withholds the appropriate amount of shares to settle the payroll tax liability, on behalf of the individual receiving the shares, as an adjustment to accumulated deficit. Stock Options All options granted under the Plans become exercisable over periods established at the date of grant. The option exercise price is generally not less than the estimated fair market value of the Company’s common stock at the date of grant, as determined by the Company’s management and Board of Directors. An employee’s vested options must be exercised at or within 90 days of termination to avoid forfeiture. Stock option activity for the six months ended December 31, 2018 is as follows: Number of Options (a) Weighted Average Exercise Price Options outstanding at June 30, 2018 22,321 $ 8.75 Options exercised (22,321 ) $ 8.75 Options outstanding at December 31, 2018 — $ — (a) Includes the effect of options granted, exercised, forfeited or expired from the 2007 Plan. Restricted Stock The value of each restricted stock award is equal to the fair market value of the Company’s common stock at the date of grant. Vesting of time-based restricted stock awards ranges from one to three years . The estimated fair value of restricted stock awards, including the effect of estimated forfeitures, is recognized on a straight-line basis over the restricted stock’s vesting period. Restricted stock award activity for the six months ended December 31, 2018 is as follows: Number of Shares Weighted Average Fair Value Outstanding at June 30, 2018 455,216 $ 24.77 Granted 232,347 $ 35.78 Forfeited (13,566 ) $ 26.94 Vested (179,416 ) $ 24.13 Outstanding at December 31, 2018 494,581 $ 30.12 Performance-Based Restricted Stock The Company also grants performance-based restricted stock awards to certain executives and other management. In August 2018, the Company granted an aggregate maximum of 210,020 shares that vest based on the Company’s total shareholder return relative to total shareholder return of the Company’s peer group (a market condition), as measured by the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2018 compared to the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2021. Vesting of these awards will be determined on the date that the Company’s Annual Report on Form 10-K for the fiscal year ending June 30, 2021 is filed. To calculate the estimated fair value of these restricted stock awards with market conditions, the Company uses a Monte Carlo simulation, which uses the expected average stock prices to estimate the expected number of shares that will vest. The Monte Carlo simulation resulted in an aggregate fair value of approximately $4,734 , which the Company will recognize as expense using the straight-line method over the period that the awards are expected to vest. Stock-based compensation expense related to an award with a market condition will be recognized regardless of whether the market condition is satisfied, provided that the requisite service has been provided. Performance-based restricted stock awards granted in fiscal 2017 and 2018 that are outstanding vest based on the Company’s total shareholder return relative to total shareholder return of the Company’s peer group (a market condition), as measured by the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2016 and July 1, 2017, respectively, compared to the closing prices of the stock of the Company and the peer group members for the 90 trading days preceding July 1, 2019 and July 1, 2020, respectively. Performance-based restricted stock award activity for the six months ended December 31, 2018 is as follows: Number of Shares Weighted Average Fair Value Outstanding at June 30, 2018 531,178 $ 12.69 Granted 210,020 $ 22.54 Forfeited (1,101 ) $ 17.65 Outstanding at December 31, 2018 740,097 $ 15.48

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitment and Contingencies Operating Leases The Company leases manufacturing space and equipment under lease agreements that expire at various dates through March 2020 . Rental expenses were $139 and $177 for the three months ended December 31, 2018 and 2017 , respectively, and $278 and $339 for the six months ended December 31, 2018 and 2017 , respectively. Future minimum lease payments under the agreements as of December 31, 2018 are as follows: Six months ending June 30, 2019 $ 255 Fiscal 2020 392 Fiscal 2021 36 Fiscal 2022 8 Fiscal 2023 3 $ 694 Other Matters In the ordinary conduct of business, the Company is subject to various lawsuits and claims covering a wide range of matters including, but not limited to, employment claims and commercial disputes. While the outcome of these matters is uncertain, the Company does not believe there are any significant matters as of December 31, 2018 that are probable or estimable, for which the outcome could have a material adverse impact on its consolidated balance sheets or statements of operations.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	8. Earnings Per Share The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts): Three Months Ended Six Months Ended 2018 2017 2018 2017 Numerator Net income (loss) $ 492 $ (413 ) $ (2,396 ) $ (2,390 ) Income allocated to participating securities (3 ) — — — Net income (loss) available to common stockholders $ 489 $ (413 ) $ (2,396 ) $ (2,390 ) Denominator Weighted average common shares outstanding – basic 33,507,843 33,112,138 33,466,454 33,040,425 Effect of dilutive stock options (1) — — — — Effect of dilutive restricted stock units (2) 327,662 — — — Effect of performance-based restricted stock awards (3) 285,134 — — — Weighted average common shares outstanding – diluted 34,120,639 33,112,138 33,466,454 33,040,425 Earnings per common share – basic $ 0.01 $ (0.01 ) $ (0.07 ) $ (0.07 ) Earnings per common share – diluted $ 0.01 $ (0.01 ) $ (0.07 ) $ (0.07 ) (1) At December 31, 2018 and 2017, 0 and 22,321 stock options, respectively, were outstanding. The effect of the shares that would be issued upon exercise of these options has been excluded from the calculation of diluted loss per share for the six months ended December 31, 2018, and the three and six months ended December 31, 2017, because those shares are anti-dilutive. (2) At December 31, 2018 and 2017, 354,176 and 335,869 additional shares of common stock, respectively, were issuable upon the settlement of outstanding restricted stock units. The effect of the shares that would be issued upon settlement of these restricted stock units has been excluded from the calculation of diluted loss per share for the six months ended December 31, 2018, and the three and six months ended December 31, 2017, because those shares are anti-dilutive. (3) At December 31, 2018 and 2017, 740,097 and 585,832 performance-based restricted stock awards, respectively, were outstanding. The effect of the potential vesting of these awards has been excluded from the calculation of diluted loss per share for the six months ended December 31, 2018, and the three and six months ended December 31, 2017, because those shares are anti-dilutive. Unvested time-based restricted stock awards that contain nonforfeitable rights to dividends are participating securities and included in the computation of earnings per share pursuant to the two-class method. Under this method, earnings attributable to the Company are allocated between common stockholders and the participating awards, as if the awards were a second class of stock. During periods of net income, the calculation of earnings per share excludes the income attributable to participating securities in the numerator and the dilutive impact of these securities from the denominator. In the event of a net loss, undistributed earnings are not allocated to participating securities and the denominator excludes the dilutive impact of these securities as they do not share in the losses of the Company. During the three months ended December 31, 2018, undistributed earnings allocated to participating securities were based on 191,331 time-based restricted stock awards.

Selected Consolidated Financi_2

Selected Consolidated Financial Statement Information (Tables)	6 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of Accounts Receivable	December 31, June 30, 2018 2018 Accounts receivable $ 30,642 $ 32,025 Less: Allowance for doubtful accounts (736 ) (800 ) Accounts receivable, net $ 29,906 $ 31,225
Schedule of Inventory	December 31, June 30, 2018 2018 Raw materials $ 6,578 $ 6,820 Work in process 1,160 1,315 Finished goods 11,941 8,470 Inventories $ 19,679 $ 16,605
Schedule of Property and Equipment	December 31, June 30, 2018 2018 Land $ 500 $ 500 Building 22,420 22,420 Equipment 16,879 16,510 Furniture 2,724 2,709 Leasehold improvements 540 438 Construction in progress 2,666 1,110 45,729 43,687 Less: Accumulated depreciation (17,499 ) (15,943 ) Property and equipment, net $ 28,230 $ 27,744
Schedule of Accrued Expenses	December 31, June 30, 2018 2018 Salaries and bonus $ 6,703 $ 6,624 Commissions 5,896 7,234 Accrued vacation 4,015 3,557 Accrued excise, sales and other taxes 3,555 3,522 Legal settlement 1,395 1,847 Clinical studies 1,145 1,422 Other accrued expenses 1,763 1,570 Accrued expenses $ 24,472 $ 25,776

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended Six Months Ended Product Category 2018 2017 2018 2017 Peripheral $ 44,236 $ 39,187 $ 85,468 $ 77,342 Coronary 15,970 13,441 31,004 24,962 Total net revenues $ 60,206 $ 52,628 $ 116,472 $ 102,304 Geography United States $ 58,596 $ 52,628 $ 113,520 $ 102,304 International 1,610 — 2,952 — Total net revenues $ 60,206 $ 52,628 $ 116,472 $ 102,304

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of future minimum lease payments	Six months ending June 30, 2019 $ 856 Fiscal 2020 1,750 Fiscal 2021 1,803 Fiscal 2022 1,857 Fiscal 2023 1,913 Thereafter 19,375 $ 27,554

Investments (Tables)

Investments (Tables)	6 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	Fair Value Measurements as of December 31, 2018 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Mutual funds $ 434 $ 129 $ 305 $ — Total short-term investments $ 434 $ 129 $ 305 $ — Fair Value Measurements as of June 30, 2018 Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Mutual funds $ 544 $ 199 $ 345 $ — Total short-term investments $ 544 $ 199 $ 345 $ —

Stock Options and Restricted _2

Stock Options and Restricted Stock Awards (Tables)	6 Months Ended
	Dec. 31, 2018
Share-based Arrangements with Employees and Nonemployees [Abstract]
Stock Option Activity	Number of Options (a) Weighted Average Exercise Price Options outstanding at June 30, 2018 22,321 $ 8.75 Options exercised (22,321 ) $ 8.75 Options outstanding at December 31, 2018 — $ — (a) Includes the effect of options granted, exercised, forfeited or expired from the 2007 Plan.
Restricted Stock Award Activity	Number of Shares Weighted Average Fair Value Outstanding at June 30, 2018 455,216 $ 24.77 Granted 232,347 $ 35.78 Forfeited (13,566 ) $ 26.94 Vested (179,416 ) $ 24.13 Outstanding at December 31, 2018 494,581 $ 30.12
Performance Based RSA Activity	Number of Shares Weighted Average Fair Value Outstanding at June 30, 2018 531,178 $ 12.69 Granted 210,020 $ 22.54 Forfeited (1,101 ) $ 17.65 Outstanding at December 31, 2018 740,097 $ 15.48

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments for Operating Leases	Six months ending June 30, 2019 $ 255 Fiscal 2020 392 Fiscal 2021 36 Fiscal 2022 8 Fiscal 2023 3 $ 694

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Reconciliation of Numerators and Denominators Used in Basic and Diluted Earnings Per Common Share Computations	The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts): Three Months Ended Six Months Ended 2018 2017 2018 2017 Numerator Net income (loss) $ 492 $ (413 ) $ (2,396 ) $ (2,390 ) Income allocated to participating securities (3 ) — — — Net income (loss) available to common stockholders $ 489 $ (413 ) $ (2,396 ) $ (2,390 ) Denominator Weighted average common shares outstanding – basic 33,507,843 33,112,138 33,466,454 33,040,425 Effect of dilutive stock options (1) — — — — Effect of dilutive restricted stock units (2) 327,662 — — — Effect of performance-based restricted stock awards (3) 285,134 — — — Weighted average common shares outstanding – diluted 34,120,639 33,112,138 33,466,454 33,040,425 Earnings per common share – basic $ 0.01 $ (0.01 ) $ (0.07 ) $ (0.07 ) Earnings per common share – diluted $ 0.01 $ (0.01 ) $ (0.07 ) $ (0.07 ) (1) At December 31, 2018 and 2017, 0 and 22,321 stock options, respectively, were outstanding. The effect of the shares that would be issued upon exercise of these options has been excluded from the calculation of diluted loss per share for the six months ended December 31, 2018, and the three and six months ended December 31, 2017, because those shares are anti-dilutive. (2) At December 31, 2018 and 2017, 354,176 and 335,869 additional shares of common stock, respectively, were issuable upon the settlement of outstanding restricted stock units. The effect of the shares that would be issued upon settlement of these restricted stock units has been excluded from the calculation of diluted loss per share for the six months ended December 31, 2018, and the three and six months ended December 31, 2017, because those shares are anti-dilutive. (3) At December 31, 2018 and 2017, 740,097 and 585,832 performance-based restricted stock awards, respectively, were outstanding. The effect of the potential vesting of these awards has been excluded from the calculation of diluted loss per share for the six months ended December 31, 2018, and the three and six months ended December 31, 2017, because those shares are anti-dilutive.

Selected Consolidated Financi_3

Selected Consolidated Financial Statement Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Accounts Receivable
Accounts receivable	$ 30,642	$ 32,025
Less: Allowance for doubtful accounts	(736)	(800)
Accounts receivable, net	$ 29,906	$ 31,225

Selected Consolidated Financi_4

Selected Consolidated Financial Statement Information - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Inventories
Raw materials	$ 6,578	$ 6,820
Work in process	1,160	1,315
Finished goods	11,941	8,470
Inventories	$ 19,679	$ 16,605

Selected Consolidated Financi_5

Selected Consolidated Financial Statement Information - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Property and Equipment
Land	$ 500	$ 500
Building	22,420	22,420
Equipment	16,879	16,510
Furniture	2,724	2,709
Leasehold improvements	540	438
Construction in progress	2,666	1,110
Property and equipment, gross	45,729	43,687
Less: Accumulated depreciation	(17,499)	(15,943)
Property and equipment, net	$ 28,230	$ 27,744

Selected Consolidated Financi_6

Selected Consolidated Financial Statement Information - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Accrued Expenses
Commissions	$ 6,703	$ 6,624
Salaries and bonus	5,896	7,234
Accrued vacation	4,015	3,557
Accrued excise, sales and other taxes	3,555	3,522
Legal settlement	1,395	1,847
Clinical studies	1,145	1,422
Other accrued expenses	1,763	1,570
Accrued expenses	$ 24,472	$ 25,776

Revenue - Dissagregate (Details

Revenue - Dissagregate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Net revenues	$ 60,206	$ 52,628	$ 116,472	$ 102,304
United States
Disaggregation of Revenue [Line Items]
Net revenues	58,596	52,628	113,520	102,304
International
Disaggregation of Revenue [Line Items]
Net revenues	1,610	0	2,952	0
Peripheral
Disaggregation of Revenue [Line Items]
Net revenues	44,236	39,187	85,468	77,342
Coronary
Disaggregation of Revenue [Line Items]
Net revenues	$ 15,970	$ 13,441	$ 31,004	$ 24,962

Revenue - Narratives (Details)

Revenue - Narratives (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Jun. 30, 2018	Nov. 30, 2016
Disaggregation of Revenue [Line Items]
Deferred revenue upfront payment			$ 10,000
Revenue recognized previously deferred	$ 398
Volume-based rebates, discounts and incentives, current	$ 1,803	$ 1,398

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - Silicon Valley Bank [Member] - Revolving Credit Facility [Member] - USD ($)	1 Months Ended	6 Months Ended
	Mar. 31, 2017	Dec. 31, 2018
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000
Line of Credit Facility, Expiration Date	Mar. 31, 2020
Percent Reduction to Prime Interest Rate	0.25%
Borrowings Available On A NonFormula Basis	$ 10,000,000
Percentage of Eligible Accounts Receivable	85.00%
Percent of Eligible Inventory	50.00%
Maximum Eligible Inventory Value	$ 5,000,000
Early Termination Fee	1.00%
Covenant, Unused Availability	$ 10,000,000
Covenant, Adjusted EBITDA	$ 1,000,000
Interest Rate Increase For Noncompliance	5.00%
Line of Credit Facility, Commitment Fee Amount	$ 80,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.35%
Line of Credit Facility, Fair Value of Amount Outstanding		$ 0

Debt - Financing Obligation (De

Debt - Financing Obligation (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2018USD ($)lease_renewal_option
Debt Instrument [Line Items]
Lessee, Finance Lease, Term of Contract	15 years
Lessee Leasing Arrangements Capital Leases Number Options To Renew | lease_renewal_option	4
Lessee, Finance Lease, Renewal Term	5 years
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Base Annual Rent Under Facility Lease	$ 1,638
Annual Rent Escalation	3.00%
Financing Obligation	$ 20,944
Effective Interest Rate	7.89%
Six months ended June 30, 2019	$ 856
Fiscal 2,020	1,750
Fiscal 2,021	1,803
Fiscal 2,022	1,857
Fiscal 2,023	1,913
Thereafter	19,375
Capital Leases, Future Minimum Payments Due	$ 27,554

Investments - Fair Value Measur

Investments - Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	$ 434	$ 544
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	434	544
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	129	199
Level 1 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	129	199
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	305	345
Level 2 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	305	345
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Level 3 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	$ 0	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Jul. 01, 2018	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact from adoption of ASU 2016-01						$ 0
Purchases of available-for-sale securities			$ 0		$ 0
Sale of available-for-sale securities		$ 46,000	$ 49,000	$ 97,000	$ 96,000
Transfers of assets between Level 1 and Level 2		0		0
Payments to acquire additional shares	$ 3,055,000
Other-than-temporary impairments				0
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments		$ 2,538,000		$ 2,538,000			$ 2,538,000
Accumulated Other Comprehensive Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact from adoption of ASU 2016-01						(101,000)	(101,000)
Accumulated Deficit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact from adoption of ASU 2016-01						$ 101,000	$ 101,000

Stock Options and Restricted _3

Stock Options and Restricted Stock Awards - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2018	Dec. 31, 2018	Dec. 31, 2018	Nov. 15, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise period for employee's vested options			90 days
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based awards number preceding trading days			90 days
Grant Date Fair Value of Restricted Stock Awards, Quarterly Market Conditions		$ 4,734
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares based on thresholds measuring total shareholder return	210,020
Two Thousand Fourteen Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity awards available to grant under the 2014 and 2007 plans				0

Stock Options and Restricted _4

Stock Options and Restricted Stock Awards - Stock Option Activity (Details)	6 Months Ended
	Dec. 31, 2018$ / sharesshares
Number of Options
Options outstanding, balance at beginning of period (in shares) | shares	22,321
Options exercised (in shares) | shares	(22,321)
Weighted Average Exercise Price
Options outstanding at beginning of period (per share) | $ / shares	$ 8.75
Options exercised (per share) | $ / shares	$ 8.75

Stock Options and Restricted _5

Stock Options and Restricted Stock Awards - Restricted Stock Award Activity (Details)	6 Months Ended
	Dec. 31, 2018$ / sharesshares
Restricted Stock
Number of Shares
Awards outstanding, balance at beginning of period (in shares) | shares	455,216
Awards granted (in shares) | shares	232,347
Awards forfeited (in shares) | shares	(13,566)
Awards vested (in shares) | shares	(179,416)
Awards outstanding, balance at end of period (in shares) | shares	494,581
Weighted Average Fair Value
Awards outstanding, balance at beginning of period (per share) | $ / shares	$ 24.77
Awards granted (per share) | $ / shares	35.78
Awards forfeited (per share) | $ / shares	26.94
Awards vested (per share) | $ / shares	24.13
Awards outstanding, balance at end of period (per share) | $ / shares	$ 30.12
Performance Shares
Number of Shares
Awards outstanding, balance at beginning of period (in shares) | shares	531,178
Awards granted (in shares) | shares	210,020
Awards forfeited (in shares) | shares	(1,101)
Awards outstanding, balance at end of period (in shares) | shares	740,097
Weighted Average Fair Value
Awards outstanding, balance at beginning of period (per share) | $ / shares	$ 12.69
Awards granted (per share) | $ / shares	22.54
Awards forfeited (per share) | $ / shares	17.65
Awards outstanding, balance at end of period (per share) | $ / shares	$ 15.48

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Rental expense	$ 139	$ 177	$ 278	$ 339
Future Minimum Lease Payments:
Six months ended June 30, 2019	255		255
Fiscal 2,020	392		392
Fiscal 2,021	36		36
Fiscal 2,022	8		8
Fiscal 2,023	3		3
Future minimum lease payments	$ 694		$ 694

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2018
Numerator
Net loss	$ 492	$ (413)	$ (2,396)	$ (2,390)	$ 1,712
Income allocated to participating securities	(3)
Net loss available to common stockholders	$ 489	$ (413)	$ (2,396)	$ (2,390)
Denominator
Basic and diluted weighted average shares outstanding	33,507,843	33,112,138	33,466,454	33,040,425
Weighted average common shares outstanding – diluted	34,120,639	33,112,138	33,466,454	33,040,425
Earnings per share, basic and diluted
Earnings per common share – basic	$ 0.01	$ (0.01)	$ (0.07)	$ (0.07)
Earnings per common share – diluted	$ 0.01	$ (0.01)	$ (0.07)	$ (0.07)
Stock Options
Earnings per share, basic and diluted
Anti-dilutive shares (shares)				22,321
Restricted Stock Units (RSUs)
Denominator
Effect of dilutive share-based payment arrangements (in shares)	327,662
Earnings per share, basic and diluted
Anti-dilutive shares (shares)			354,176	335,869
Performance Shares
Denominator
Effect of dilutive share-based payment arrangements (in shares)	285,134
Earnings per share, basic and diluted
Anti-dilutive shares (shares)			740,097	585,832
Restricted Stock
Earnings per share, basic and diluted
Anti-dilutive shares (shares)	191,331

Uncategorized Items - csii-2018

Label	Element	Value
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Common Stock [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0