Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 25, 2019 | |
Cover page. | ||
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 001-35706 | |
Entity Registrant Name | APOLLO ENDOSURGERY, INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 16-1630142 | |
Entity Address, Address Line One | 1120 S. Capital of Texas Highway | |
Entity Address, Address Line Two | Building 1, Suite #300 | |
Entity Address, City or Town | Austin | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 78746 | |
City Area Code | 512 | |
Local Phone Number | 279-5100 | |
Title of 12(b) Security | Common stock, par value $0.001 per share | |
Trading Symbol | APEN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,944,284 | |
Entity Central Index Key | 0001251769 | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 34,970 | $ 23,996 |
Accounts receivable, net of allowance for doubtful accounts of $698 and $559, respectively | 8,902 | 11,391 |
Inventory | 10,833 | 9,932 |
Prepaid expenses and other current assets | 3,350 | 2,801 |
Total current assets | 58,055 | 48,120 |
Restricted cash | 1,006 | 1,011 |
Property, equipment and right-of-use assets | 6,999 | 5,897 |
Goodwill | 5,290 | 5,290 |
Intangible assets, net of accumulated amortization of $11,029 and $9,455, respectively | 8,340 | 9,859 |
Other assets | 4,535 | 4,291 |
Total assets | 84,225 | 74,468 |
Current liabilities: | ||
Accounts payable | 10,157 | 15,292 |
Accrued expenses | 10,107 | 9,156 |
Total current liabilities | 20,264 | 24,448 |
Long-term debt | 34,276 | 21,190 |
Convertible debt | 18,527 | 0 |
Long-term liabilities | 1,209 | 0 |
Total liabilities | 74,276 | 45,638 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock; $0.001 par value; 100,000,000 shares authorized; 20,934,969 and 21,899,522 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively | 21 | 22 |
Additional paid-in capital | 250,186 | 249,115 |
Accumulated other comprehensive income | 2,708 | 2,501 |
Accumulated deficit | (242,966) | (222,808) |
Total stockholders' equity | 9,949 | 28,830 |
Total liabilities and stockholders' equity | $ 84,225 | $ 74,468 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 698 | $ 559 |
Accumulated amortization | $ 11,029 | $ 9,455 |
Common stock, par value (USD per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (shares) | 20,934,969 | 21,899,522 |
Common stock, shares outstanding (shares) | 20,934,969 | 21,899,522 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Statement [Abstract] | ||||
Revenues | $ 11,259 | $ 14,141 | $ 38,724 | $ 45,672 |
Cost of sales | 5,826 | 6,400 | 18,884 | 19,560 |
Gross margin | 5,433 | 7,741 | 19,840 | 26,112 |
Operating expenses: | ||||
Sales and marketing | 6,495 | 7,344 | 21,995 | 25,078 |
General and administrative | 3,159 | 3,021 | 10,219 | 9,589 |
Research and development | 2,128 | 3,671 | 8,245 | 9,281 |
Amortization of intangible assets | 510 | 1,807 | 1,591 | 5,411 |
Settlement gain | 0 | 0 | (5,609) | 0 |
Total operating expenses | 12,292 | 15,843 | 36,441 | 49,359 |
Loss from operations | (6,859) | (8,102) | (16,601) | (23,247) |
Other expenses: | ||||
Interest expense, net | 1,221 | 1,001 | 2,849 | 2,980 |
Other expense | 498 | 620 | 655 | 1,085 |
Net loss before income taxes | (8,578) | (9,723) | (20,105) | (27,312) |
Income tax expense | 80 | 36 | 131 | 122 |
Net loss | (8,658) | (9,759) | (20,236) | (27,434) |
Other comprehensive income (loss): | ||||
Foreign currency translation | 176 | 498 | 207 | 495 |
Comprehensive loss | $ (8,482) | $ (9,261) | $ (20,029) | $ (26,939) |
Net loss per share, basic and diluted (USD per share) | $ (0.40) | $ (0.45) | $ (0.93) | $ (1.44) |
Shares used in computing net loss per share, basic and diluted (shares) | 21,401,044 | 21,885,158 | 21,743,218 | 19,080,400 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Deficit [Member] |
Beginning balance, shares at Dec. 31, 2017 | 17,291,209 | ||||
Beginning balance at Dec. 31, 2017 | $ 49,913 | $ 17 | $ 225,122 | $ 1,795 | $ (177,021) |
Exercise of common stock options, shares | 275,805 | ||||
Exercise of common stock options | 738 | 738 | |||
Issuance of restricted stock units, shares | 17,070 | ||||
Issuance of common stock, net of issuance costs, shares | 4,309,090 | ||||
Issuance of common stock, net of issuance costs | 21,857 | $ 5 | 21,852 | ||
Stock based compensation | 1,049 | 1,049 | |||
Foreign currency translation | 495 | 495 | |||
Net loss | (27,434) | (27,434) | |||
Ending balance, shares at Sep. 30, 2018 | 21,893,174 | ||||
Ending balance at Sep. 30, 2018 | 46,618 | $ 22 | 248,761 | 2,290 | (204,455) |
Beginning balance, shares at Jun. 30, 2018 | 21,877,332 | ||||
Beginning balance at Jun. 30, 2018 | 55,454 | $ 22 | 248,336 | 1,792 | (194,696) |
Exercise of common stock options, shares | 15,008 | ||||
Exercise of common stock options | 51 | 51 | |||
Issuance of restricted stock units, shares | 834 | ||||
Stock based compensation | 374 | 374 | |||
Foreign currency translation | 498 | 498 | |||
Net loss | (9,759) | (9,759) | |||
Ending balance, shares at Sep. 30, 2018 | 21,893,174 | ||||
Ending balance at Sep. 30, 2018 | $ 46,618 | $ 22 | 248,761 | 2,290 | (204,455) |
Beginning balance, shares at Dec. 31, 2018 | 21,899,522 | 21,899,522 | |||
Beginning balance at Dec. 31, 2018 | $ 28,908 | $ 22 | 249,115 | 2,501 | (222,730) |
Exercise of common stock options, shares | 5,621 | ||||
Exercise of common stock options | 11 | 11 | |||
Exercise of common stock options, shares | (1,000,000) | ||||
Exchange of common stock for warrants | $ (1) | 1 | |||
Issuance of restricted stock units, shares | 29,826 | ||||
Stock based compensation | 1,059 | 1,059 | |||
Foreign currency translation | 207 | 207 | |||
Net loss | $ (20,236) | (20,236) | |||
Ending balance, shares at Sep. 30, 2019 | 20,934,969 | 20,934,969 | |||
Ending balance at Sep. 30, 2019 | $ 9,949 | $ 21 | 250,186 | 2,708 | (242,966) |
Beginning balance, shares at Jun. 30, 2019 | 21,933,102 | ||||
Beginning balance at Jun. 30, 2019 | 18,037 | $ 22 | 249,791 | 2,532 | (234,308) |
Exercise of common stock options, shares | 1,867 | ||||
Exercise of common stock options | 4 | 4 | |||
Exercise of common stock options, shares | (1,000,000) | ||||
Exchange of common stock for warrants | $ (1) | 1 | |||
Stock based compensation | 390 | 390 | |||
Foreign currency translation | 176 | 176 | |||
Net loss | $ (8,658) | (8,658) | |||
Ending balance, shares at Sep. 30, 2019 | 20,934,969 | 20,934,969 | |||
Ending balance at Sep. 30, 2019 | $ 9,949 | $ 21 | $ 250,186 | $ 2,708 | $ (242,966) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Statement of Stockholders' Equity [Abstract] | |
Issuance costs | $ 1,843 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (20,236) | $ (27,434) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Settlement gain | (5,609) | 0 |
Depreciation and amortization | 3,108 | 7,024 |
Amortization of deferred financing costs | 470 | 269 |
Non-cash interest | 214 | 291 |
Provision for doubtful accounts receivable | 209 | 174 |
Inventory impairment | 80 | 367 |
Stock based compensation | 1,059 | 1,049 |
Unrealized foreign currency loss on short-term intercompany loans | 950 | 906 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 2,074 | 1,088 |
Inventory | (1,042) | 439 |
Prepaid expenses and other assets | (319) | (84) |
Accounts payable and accrued expenses | 97 | (3,007) |
Net cash used in operating activities | (18,945) | (18,918) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (466) | (1,965) |
Purchases of intangibles and other assets | (181) | (754) |
Proceeds from sale of equipment | 18 | 0 |
Net cash used in investing activities | (629) | (2,719) |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 11 | 738 |
Proceeds from long-term debt | 35,000 | 0 |
Proceeds from convertible debt | 20,000 | 0 |
Proceeds from issuance of common stock | 0 | 21,857 |
Payments of deferred financing costs | (2,737) | (353) |
Payment of long-term debt | (21,668) | (2,500) |
Net cash provided by financing activities | 30,606 | 19,742 |
Effect of exchange rate changes on cash | (63) | (69) |
Net increase/(decrease) in cash, cash equivalents and restricted cash | 10,969 | (1,964) |
Cash, cash equivalents and restricted cash at beginning of year | 25,007 | 31,418 |
Cash, cash equivalents and restricted cash at end of period | 35,976 | 29,454 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 2,634 | 2,738 |
Cash paid for income taxes | 132 | 36 |
Right-of-use assets recognized in exchange for new lease obligations (non-cash) | $ 2,789 | $ 0 |
Organization and Business Descr
Organization and Business Description | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Business Description | Organization and Business Description Apollo Endosurgery, Inc. is a Delaware corporation with both domestic and foreign wholly-owned subsidiaries. Throughout these Notes "Apollo" and the "Company" refer to Apollo Endosurgery, Inc. and its consolidated subsidiaries. Apollo is a medical technology company primarily focused on the design, development, and commercialization of innovative medical devices. The Company's products are used by gastroenterologists and surgeons in a variety of settings to provide interventional therapy to patients who suffer from various gastrointestinal conditions including obesity and the many co-morbidities associated with obesity. The Company's core products include the OverStitch™ Endoscopic Suturing System ("ESS") and the Orbera ® Intragastric Balloon System ("IGB"), which together comprise the Company's Endoscopy products. We have offices in England, Australia, Italy, and Brazil that oversee commercial activities outside the U.S., a products manufacturing facility in Costa Rica and a device analysis lab in California. All other activities are managed and operated from facilities in Austin, Texas. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies (a) Basis of Presentation The Company prepared its interim condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). They do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements include the Company's accounts and the accounts of its wholly-owned subsidiaries. The Company has eliminated all intercompany balances and transactions. The Company has made estimates and judgments affecting the amounts reported in its condensed consolidated financial statements and the accompanying notes. The actual results that the Company experiences may differ materially from the Company's estimates. The accounting estimates that require the Company's most significant, difficult and subjective judgments include revenue recognition, useful lives of intangible assets and long-lived assets, impairment of long-lived assets and goodwill, valuation of inventory, allowance for doubtful accounts, stock compensation, and deferred tax asset valuation. (b) Unaudited Interim Results In management's opinion, the unaudited financial information for the interim periods presented includes all adjustments necessary for a fair presentation of the results of operations, financial position, and cash flows. All adjustments are of a normal recurring nature unless otherwise disclosed. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for the full year. This interim information should be read in conjunction with the audited consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2018. (c) Other Revenue In connection with the December 2018 sale of the Surgical product line, the Company entered into a transition services agreement, supply agreement and distribution agreement pursuant to which the Company will provide specific transition services for designated periods of time for each service, manufacture Surgical products for up to two one (d) Leases On January 1, 2019, the Company adopted the provisions of ASU 2016-02, Leases ("ASU 2016-02") under the modified retrospective approach, chose not to adjust comparative periods, and elected the package of practical expedients permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. The cumulative-effect adjustment made to the opening balance of retained earnings as of January 1, 2019 was $78. All significant lease arrangements are generally recognized at lease commitment. Operating lease right-of-use assets and liabilities are recognized at commencement, except for leases with an initial term of 12 months or less, for which lease expense is recognized as incurred over the lease term. Right-of-use assets represent the Company’s right to use an underlying asset during the reasonably certain lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease terms may include options to extend or terminate the lease when its reasonably certain that the Company will exercise that option. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company primarily uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Operating lease right-of-use assets include any lease payments related to initial direct costs and prepayments and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. (e) Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment (“ASU 2017-04”) to simplify the accounting for goodwill impairment. The guidance removes step two of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. ASU 2017-04 will be effective for the Company for annual and interim reporting in fiscal years beginning after December 15, 2019 and is not expected to be material. |
Concentrations
Concentrations | 9 Months Ended |
Sep. 30, 2019 | |
Risks and Uncertainties [Abstract] | |
Concentrations | ConcentrationsConsolidated financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and cash equivalents and accounts receivable. At September 30, 2019, the Company's cash, cash equivalents and restricted cash are held in deposit accounts at six different banks totaling $35,976. The Company has not experienced any losses in such accounts, and management does not believe the Company is exposed to any significant credit risk. Management further believes that the concentration of credit risk in the Company's accounts receivable is substantially mitigated by the Company's evaluation process, relatively short collection terms, and the high level of creditworthiness of its customers. The Company continually evaluates the status of each of its customers, but generally requires no collateral. |
Inventory
Inventory | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Inventory | Inventory Inventory consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Raw materials $ 3,085 $ 3,806 Work in progress 539 352 Finished goods 7,209 5,774 Total inventory $ 10,833 $ 9,932 |
Property, Equipment and Right-o
Property, Equipment and Right-of-Use Assets | 9 Months Ended |
Sep. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Equipment and Right-of-Use Assets | Property, Equipment and Right-of-Use Assets Property, equipment and right-of-use assets consists of the following: Depreciable Lives September 30, 2019 December 31, 2018 (unaudited) Equipment 5 years $ 7,486 $ 7,510 Right-of-use assets 1-5 years 2,762 — Furniture, fixtures and tooling 4-8 years 2,230 2,223 Computer hardware 3-5 years 1,334 1,326 Leasehold improvements 3-5 years 1,400 1,400 Construction in process 497 130 15,709 12,589 Less accumulated depreciation (8,710) (6,692) Property and equipment, net $ 6,999 $ 5,897 The Company has operating leases for office space in the United States, the United Kingdom, Australia, Italy, and Brazil, and for a manufacturing facility located in Costa Rica. The Company also has various lease agreements for equipment and vehicles. As of September 30, 2019, the maturities of the Company's operating lease liabilities are as follows: 2019 $ 306 2020 1,015 2021 815 2022 137 2023 91 Thereafter 28 Total lease payments 2,392 Less imputed interest (298) Total operating lease liabilities $ 2,094 Operating lease liabilities of $885 and $1,209 are included in accrued expenses and long-term liabilities, respectively, as of September 30, 2019. Operating lease expense and cash paid within operating cash flows for operating leases was $306 and $958 for the three and nine months ended September 30, 2019, respectively. The weighted average remaining lease term was 2.31 years and the weighted average discount rate used to estimate the value of the operating lease liabilities was 10.0%. |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2019 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | Other AssetsIncluded in other assets as of September 30, 2019 and December 31, 2018 is $4,238 and $3,907 for the non-current portion of the receivable due from ReShape, respectively. |
Accrued Expenses
Accrued Expenses | 9 Months Ended |
Sep. 30, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued Expenses Accrued expenses consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Accrued employee compensation and expenses $ 3,116 $ 3,804 Accrued professional service fees 2,430 2,983 Settlement liability 1,625 — Lease liability 885 — Accrued insurance and taxes 276 625 Accrued returns and rebates 222 331 Other 1,553 1,413 Total accrued expenses $ 10,107 $ 9,156 |
Long-Term Debt
Long-Term Debt | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Long-Term Debt Long-term debt consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Term loan facililty $ 35,000 $ — Senior secured credit facility — 19,500 Payment-in-kind interest 347 2,142 Discount on long-term debt — (175) Deferred financing costs (1,071) (277) Long-term debt $ 34,276 $ 21,190 Future minimum principal payments of long-term debt by year are as follows: 2019 $ — 2020 — 2021 11,667 2022 14,000 2023 9,333 Thereafter — $ 35,000 In March 2019, the Company entered into a Term Loan Facility (the "Credit Agreement") with Solar Capital Ltd. ("Solar") to borrow $35,000. The Credit Agreement matures on September 1, 2023, with principal payments beginning in March 2021, and bears interest at LIBOR plus 7.5%. Interest only is payable in arrears until March 1, 2021 (or September 1, 2021 if certain revenue milestones are achieved). An additional 4.75% of the outstanding amount will be due at end of the loan term and an additional 4.5% fee of the Term Loan funded amount will be due at the earlier of an Exit Event (as defined in the Credit Agreement) or if the Company achieves trailing twelve-month revenue of $100,000 before March 15, 2029. The Company is accruing for these additional fees as payment-in-kind interest which is included in long-term debt. The Credit Agreement provides that an additional $15,000 may be drawn upon the Company's request subject to further credit approval. The Credit Agreement includes customary affirmative covenants, negative covenants and financial covenants, including a minimum liquidity requirement and minimum product revenue requirement. The Company used $22,372 of the proceeds of the Credit Agreement to repay its previous senior secured credit facility in full including interest. Unamortized deferred financing costs and discount of $388 were written off in March 2019 in connection with the repayment. In June 2019, the Company entered into the First Amendment to the Credit Agreement which adjusted the trailing six-month Endoscopy revenue requirements for the periods ending June 30, July 31, and August 31, 2019 and increased the minimum liquidity covenant to $12,500. In August 2019, the Company entered into the Second Amendment to the Credit Agreement to allow for the issuance of $20,000 aggregate principal amount of the Company's 6.0% unsecured convertible debentures due 2024 (the "Convertible Debt"). In October 2019, the Company entered into the Third Amendment to the Credit Agreement that adjusted the trailing six-month Endoscopy revenue requirements for the periods ending August 31, 2019 through December 31, 2019, as the Company was not in compliance with the minimum product revenue requirement. As of September 30, 2019, after considering the adjustments made pursuant to the Third Amendment to the Credit Agreement, the Company was in compliance with the financial covenants. Interest expense on the Company's long term debt was $1,284 and $3,504 for the three and nine months ended September 30, 2019 and $1,152 and $3,279 for the three and nine months ended September 30, 2018, respectively. |
Convertible Debt
Convertible Debt | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Convertible Debt | Convertible Debt Convertible debt consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Convertible debt $ 20,000 $ — Deferred financing costs (1,473) — Total convertible debt $ 18,527 $ — In August 2019, the Company issued $20,000 aggregate principal amount of Convertible Debt, primarily to existing stockholders and officers of the Company. Interest on the Convertible Debt will be payable semi-annually in shares of the Company's common stock on January 1 and July 1 of each year, beginning on January 1, 2020, at a rate of 6.0% per year. The number of shares of common stock required to settle the amount of interest payable will be based on the average volume-weighted average price ("VWAP") of the Company's common stock for the 10 consecutive trading days immediately preceding the applicable interest payment date. The Convertible Debt will mature on August 12, 2024 unless earlier converted or repurchased in accordance with its terms. The Convertible Debt converts, at the option of the holders, into shares of the Company's common stock at an initial conversion price of $3.25 per share, subject to adjustment. If the VWAP of the Company's common stock has been at least $9.75 (subject to adjustment) for at least 20 trading days during any 30 consecutive trading day period, the Company may force the conversion of all or any part of the outstanding principal amount of the Convertible Debt, accrued and unpaid interest and any other amounts then owing, subject to certain conditions. Interest expense on the Convertible Debt was $208 for the three and nine months ended September 30, 2019. |
Stock Based Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation | Stock Based Compensation In June 2017, the 2017 Equity Incentive Plan (the "2017 Plan") was approved by the Company's stockholders and replaced the Company's 2016 Equity Incentive Plan (the "2016 Plan"), which was the successor to the 2006 Stock Option Plan (the "2006 Plan")(collectively with the 2016 Plan, the "Prior Plans"). Grants will no longer be made under the Prior Plans, but the awards that remain outstanding will continue to be governed by the terms of the applicable Prior Plan and the applicable award agreement. A summary of the stock option activity under the Company's 2017 Plan and Prior Plans (collectively, the "Equity Plans") as of September 30, 2019 is presented below. Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, December 31, 2018 1,502,756 $5.63 7.7 years $217 Options granted 781,705 $3.47 Options exercised (5,621) $1.81 Options forfeited (228,346) $4.45 Options outstanding, vested and expected to vest, September 30, 2019 2,050,494 $4.95 7.7 years $145 Options exercisable 978,853 $5.15 6.2 years $130 Shares subject to awards granted under the 2017 Plan which expire, are repurchased, or are canceled or forfeited will again become available for issuance under the 2017 Plan. The shares available will not be reduced by awards settled in cash or by shares withheld to satisfy tax withholding obligations. Only the net number of shares issued upon the exercise of options by means of a net exercise will be deducted from the shares available under the 2017 Plan. The fair value of stock option grants has been estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions: Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 Risk free interest rate 2.2 % 2.7 % Expected dividend yield — % — % Estimated volatility 64.6 % 63.3 % Expected life 5.8 years 5.8 years Additional information regarding options is as follows: Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 Weighted-average grant date fair value of options granted during the period $ 2.04 $ 3.95 Aggregate intrinsic value of options exercised during the period $ 10 $ 923 The aggregate intrinsic value in the table above represents the total pre-tax value of the options shown, calculated as the difference between the Company’s closing stock price on September 30, 2019 and the exercise prices of the options shown, multiplied by the number of in-the money options. This is the aggregate amount that would have been received by the option holders if they had all exercised their options on September 30, 2019 and sold the shares thereby received at the closing price of the Company’s stock on that date. This amount changes based on the closing price of the Company’s stock. The total compensation cost recognized for stock-based awards was $390 and $1,059 for the three and nine months ended September 30, 2019 and $374 and $1,049 for the three and nine months ended September 30, 2018. The Company has options outstanding to purchase 136,197 common shares that vest upon the achievement of certain revenue targets for calendar year 2019. Achievement of the performance targets deemed probable are included in total stock compensation expense. Unrecognized compensation expense related to unvested options was approximately $2,836 at September 30, 2019, with a remaining amortization period of 2.7 years. A summary of the restricted stock unit activity under the Company's Equity Plans as of September 30, 2019 is presented below. Units Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Unvested units, December 31, 2018 94,940 $6.21 $328 Restricted stock units granted 200,009 $3.46 Restricted stock units vested (29,826) $6.66 Restricted stock units forfeited (15,971) $4.37 Unvested units, September 30, 2019 249,152 $4.07 $820 Unrecognized compensation expense related to unvested restricted stock units was approximately $872 at September 30, 2019, with a remaining amortization period of 3.0 years. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The provision for income taxes for the three and nine months ended September 30, 2019 and 2018 includes both domestic and foreign income taxes at applicable statutory rates. The provision primarily consists of foreign income taxes. The Company has established a valuation allowance equal to the total net domestic deferred tax asset due to uncertainties regarding the realization of deferred tax assets based on the Company's lack of earnings history. |
Net Loss Per Share
Net Loss Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss Per Share The basic and diluted net loss per common share presented in the condensed consolidated statements of operations and comprehensive loss is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Potentially dilutive shares, which include warrants for the purchase of common stock, convertible debt, restricted stock units, and options outstanding under the Company's equity incentive plans, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. Potentially dilutive securities that are not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive are as follows (in common stock equivalent shares on a weighted-average basis): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Warrants for common stock 736,980 251,189 383,858 251,189 Convertible debt 3,304,235 — 1,113,515 — Common stock options 2,004,749 1,665,456 1,716,127 1,515,487 Restricted stock units 233,774 100,104 150,366 86,849 6,279,738 2,016,749 3,363,866 1,853,525 In August 2019, the Company issued a pre-funded warrant ("Warrant"), to exchange up to 1,000,000 shares of the Company's common stock, at an exercise price of $0.001 per share, to an existing stockholder for 1,000,000 shares of common stock held by such stockholder. The common stock received in the exchange was subsequently retired. The Warrant may be exercised at any time until the Warrant is exercised in full. The holder (together with its affiliates) may not exercise any portion of the Warrant to the extent that the holder would beneficially own more than 9.99% of the outstanding common stock in the aggregate immediately after exercise. |
Liquidity and Capital Resources
Liquidity and Capital Resources | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Liquidity and Capital Resources | Liquidity and Capital Resources The Company has experienced operating losses since inception and debt covenant violations and has an accumulated deficit of $242,966 as of September 30, 2019. To date, the Company has funded its operating losses and acquisitions through equity offerings and the issuance of debt instruments. The Company's ability to fund future operations and meet debt covenant requirements will depend upon its level of future revenue and operating cash flow and its ability to access additional funding through either equity offerings, issuances of debt instruments or both. In March 2019, the Company entered into the Credit Agreement with Solar Capital, Ltd. to borrow $35,000 of which $22,372 of the proceeds were used to repay the Company's previous senior secured credit facility. The Credit Agreement includes affirmative, negative and financial covenants, including maintenance of a minimum cash balance and minimum product revenue requirements. While the Company believes it will remain in compliance with these covenants, if it is unable to do so, the Company would seek covenant waivers which may or may not be granted by the lender and the lender could accelerate repayment of the Term Loan Facility. In August 2019, the Company issued $20,000 aggregate principal amount of Convertible Debt. Interest on the Convertible Debt will be payable semi-annually in shares of the Company's common stock on January 1 and July 1 of each year, beginning on January 1, 2020, at a rate of 6.0% per year. The number of shares of common stock required to settle the amount of interest payable will be based on the average VWAP of the Company's common stock for the 10 consecutive trading days immediately preceding the applicable interest payment date. The Convertible Debt will mature on August 12, 2024 unless earlier converted or repurchased in accordance with their terms. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The carrying amounts of the Company's financial instruments, which primarily include cash, cash equivalents, and restricted cash, accounts receivable, accounts payable and accrued expenses, approximate their fair values due to their short maturities. The fair value of the Company's convertible debt and long-term debt is estimated by management to approximate $20,000 and $35,000, respectively at September 30, 2019. Management's estimates are based on comparisons of the characteristics of the Company's obligations, comparable ranges of interest rates on recently issued debt, and maturity. Such valuation inputs are considered a Level 3 measurement in the fair value valuation hierarchy. The accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. |
Segment and Geographic Informat
Segment and Geographic Information | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Segment and Geographic Information | Segment and Geographic Information Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company globally manages the business within one reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The Company's products are principally sold in the U.S. No other countries are individually significant. Product sales by product group and geographic market, based on the location of the customer, whether the U.S. or outside the U.S. ("OUS") for the periods shown were as follows: Three Months Ended September 30, 2019 Three Months Ended September 30, 2018 (unaudited) U.S. OUS Total Revenues % Total Revenues U.S. OUS Total Revenues % Total Revenues ESS $ 3,711 $ 2,949 $ 6,660 59.2 % $ 2,511 $ 2,698 $ 5,209 36.8 % IGB 1,088 2,633 3,721 33.0 % 1,175 2,898 4,073 28.8 % Total Endoscopy 4,799 5,582 10,381 92.2 % 3,686 5,596 9,282 65.6 % Surgical — 640 640 5.7 % 2,790 1,851 4,641 32.9 % Other 228 10 238 2.1 % 210 8 218 1.5 % Total revenues $ 5,027 $ 6,232 $ 11,259 100.0 % $ 6,686 $ 7,455 $ 14,141 100.0 % % Total revenues 44.6 % 55.4 % 47.3 % 52.7 % Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 (unaudited) U.S. OUS Total Revenues % Total Revenues U.S. OUS Total Revenues % Total Revenues ESS $ 10,498 $ 10,339 $ 20,837 53.8 % $ 7,663 $ 8,793 $ 16,456 36.0 % IGB 4,005 8,552 12,557 32.4 % 4,461 9,425 13,886 30.4 % Total Endoscopy 14,503 18,891 33,394 86.2 % 12,124 18,218 30,342 66.4 % Surgical — 3,670 3,670 9.5 % 8,359 6,210 14,569 31.9 % Other 1,632 28 1,660 4.3 % 735 26 761 1.7 % Total revenues $ 16,135 $ 22,589 $ 38,724 100.0 % $ 21,218 $ 24,454 $ 45,672 100.0 % % Total revenues 41.7 % 58.3 % 46.5 % 53.5 % Total distributor sales were 34.4% and 23.4% of total OUS revenues for the three months ended September 30, 2019 and 2018, respectively, and 31.8% and 21.8% for the nine months ended September 30, 2019 and 2018, respectively. The next largest individual country outside the U.S. was 6.8% and 7.2% of total revenues for the three months ended September 30, 2019 and 2018, respectively, and 8.2% and 7.8% of total revenues for the nine months ended September 30, 2019 and 2018, respectively. The following table represents property, equipment and right-of-use assets, net based on the geographic location of the asset: September 30, 2019 December 31, 2018 (unaudited) United States $ 3,158 $ 2,337 Costa Rica 3,359 3,347 Other 482 213 Total property, equipment and right-of-use assets, net $ 6,999 $ 5,897 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Organization and Business Description | Apollo Endosurgery, Inc. is a Delaware corporation with both domestic and foreign wholly-owned subsidiaries. Throughout these Notes "Apollo" and the "Company" refer to Apollo Endosurgery, Inc. and its consolidated subsidiaries. Apollo is a medical technology company primarily focused on the design, development, and commercialization of innovative medical devices. The Company's products are used by gastroenterologists and surgeons in a variety of settings to provide interventional therapy to patients who suffer from various gastrointestinal conditions including obesity and the many co-morbidities associated with obesity. The Company's core products include the OverStitch™ Endoscopic Suturing System ("ESS") and the Orbera ® Intragastric Balloon System ("IGB"), which together comprise the Company's Endoscopy products. We have offices in England, Australia, Italy, and Brazil that oversee commercial activities outside the U.S., a products manufacturing facility in Costa Rica and a device analysis lab in California. All other activities are managed and operated from facilities in Austin, Texas. |
Other Revenue | Other RevenueIn connection with the December 2018 sale of the Surgical product line, the Company entered into a transition services agreement, supply agreement and distribution agreement pursuant to which the Company will provide specific transition services for designated periods of time for each service, manufacture Surgical products for up to two one |
Leases | Leases On January 1, 2019, the Company adopted the provisions of ASU 2016-02, Leases ("ASU 2016-02") under the modified retrospective approach, chose not to adjust comparative periods, and elected the package of practical expedients permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. The cumulative-effect adjustment made to the opening balance of retained earnings as of January 1, 2019 was $78. All significant lease arrangements are generally recognized at lease commitment. Operating lease right-of-use assets and liabilities are recognized at commencement, except for leases with an initial term of 12 months or less, for which lease expense is recognized as incurred over the lease term. Right-of-use assets represent the Company’s right to use an underlying asset during the reasonably certain lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease terms may include options to extend or terminate the lease when its reasonably certain that the Company will exercise that option. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company primarily uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Operating lease right-of-use assets include any lease payments related to initial direct costs and prepayments and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment |
Net Loss Per Share | The basic and diluted net loss per common share presented in the condensed consolidated statements of operations and comprehensive loss is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Potentially dilutive shares, which include warrants for the purchase of common stock, convertible debt, restricted stock units, and options outstanding under the Company's equity incentive plans, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. |
Inventory (Tables)
Inventory (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | Inventory consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Raw materials $ 3,085 $ 3,806 Work in progress 539 352 Finished goods 7,209 5,774 Total inventory $ 10,833 $ 9,932 |
Property, Equipment and Right_2
Property, Equipment and Right-of-Use Assets (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property, equipment and right-of-use assets consists of the following: Depreciable Lives September 30, 2019 December 31, 2018 (unaudited) Equipment 5 years $ 7,486 $ 7,510 Right-of-use assets 1-5 years 2,762 — Furniture, fixtures and tooling 4-8 years 2,230 2,223 Computer hardware 3-5 years 1,334 1,326 Leasehold improvements 3-5 years 1,400 1,400 Construction in process 497 130 15,709 12,589 Less accumulated depreciation (8,710) (6,692) Property and equipment, net $ 6,999 $ 5,897 |
Operating Lease Maturity | As of September 30, 2019, the maturities of the Company's operating lease liabilities are as follows: 2019 $ 306 2020 1,015 2021 815 2022 137 2023 91 Thereafter 28 Total lease payments 2,392 Less imputed interest (298) Total operating lease liabilities $ 2,094 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Expenses | Accrued expenses consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Accrued employee compensation and expenses $ 3,116 $ 3,804 Accrued professional service fees 2,430 2,983 Settlement liability 1,625 — Lease liability 885 — Accrued insurance and taxes 276 625 Accrued returns and rebates 222 331 Other 1,553 1,413 Total accrued expenses $ 10,107 $ 9,156 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt | Long-term debt consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Term loan facililty $ 35,000 $ — Senior secured credit facility — 19,500 Payment-in-kind interest 347 2,142 Discount on long-term debt — (175) Deferred financing costs (1,071) (277) Long-term debt $ 34,276 $ 21,190 |
Schedule of Maturities of Long-term Debt | Future minimum principal payments of long-term debt by year are as follows: 2019 $ — 2020 — 2021 11,667 2022 14,000 2023 9,333 Thereafter — $ 35,000 |
Convertible Debt (Tables)
Convertible Debt (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible Debt | Convertible debt consists of the following as of: September 30, 2019 December 31, 2018 (unaudited) Convertible debt $ 20,000 $ — Deferred financing costs (1,473) — Total convertible debt $ 18,527 $ — |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | A summary of the stock option activity under the Company's 2017 Plan and Prior Plans (collectively, the "Equity Plans") as of September 30, 2019 is presented below. Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, December 31, 2018 1,502,756 $5.63 7.7 years $217 Options granted 781,705 $3.47 Options exercised (5,621) $1.81 Options forfeited (228,346) $4.45 Options outstanding, vested and expected to vest, September 30, 2019 2,050,494 $4.95 7.7 years $145 Options exercisable 978,853 $5.15 6.2 years $130 |
Schedule of Fair Value of Stock Options | The fair value of stock option grants has been estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions: Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 Risk free interest rate 2.2 % 2.7 % Expected dividend yield — % — % Estimated volatility 64.6 % 63.3 % Expected life 5.8 years 5.8 years |
Schedule of Other Stock Option Information | Additional information regarding options is as follows: Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 Weighted-average grant date fair value of options granted during the period $ 2.04 $ 3.95 Aggregate intrinsic value of options exercised during the period $ 10 $ 923 |
Schedule of Restricted Stock Unit Activity | A summary of the restricted stock unit activity under the Company's Equity Plans as of September 30, 2019 is presented below. Units Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Unvested units, December 31, 2018 94,940 $6.21 $328 Restricted stock units granted 200,009 $3.46 Restricted stock units vested (29,826) $6.66 Restricted stock units forfeited (15,971) $4.37 Unvested units, September 30, 2019 249,152 $4.07 $820 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Antidilutive Securities Excluded from Computation of Diluted Loss Per Share | Potentially dilutive securities that are not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive are as follows (in common stock equivalent shares on a weighted-average basis): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Warrants for common stock 736,980 251,189 383,858 251,189 Convertible debt 3,304,235 — 1,113,515 — Common stock options 2,004,749 1,665,456 1,716,127 1,515,487 Restricted stock units 233,774 100,104 150,366 86,849 6,279,738 2,016,749 3,363,866 1,853,525 |
Segment and Geographic Inform_2
Segment and Geographic Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Product Sales by Product Group and Geographic Market | Product sales by product group and geographic market, based on the location of the customer, whether the U.S. or outside the U.S. ("OUS") for the periods shown were as follows: Three Months Ended September 30, 2019 Three Months Ended September 30, 2018 (unaudited) U.S. OUS Total Revenues % Total Revenues U.S. OUS Total Revenues % Total Revenues ESS $ 3,711 $ 2,949 $ 6,660 59.2 % $ 2,511 $ 2,698 $ 5,209 36.8 % IGB 1,088 2,633 3,721 33.0 % 1,175 2,898 4,073 28.8 % Total Endoscopy 4,799 5,582 10,381 92.2 % 3,686 5,596 9,282 65.6 % Surgical — 640 640 5.7 % 2,790 1,851 4,641 32.9 % Other 228 10 238 2.1 % 210 8 218 1.5 % Total revenues $ 5,027 $ 6,232 $ 11,259 100.0 % $ 6,686 $ 7,455 $ 14,141 100.0 % % Total revenues 44.6 % 55.4 % 47.3 % 52.7 % Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 (unaudited) U.S. OUS Total Revenues % Total Revenues U.S. OUS Total Revenues % Total Revenues ESS $ 10,498 $ 10,339 $ 20,837 53.8 % $ 7,663 $ 8,793 $ 16,456 36.0 % IGB 4,005 8,552 12,557 32.4 % 4,461 9,425 13,886 30.4 % Total Endoscopy 14,503 18,891 33,394 86.2 % 12,124 18,218 30,342 66.4 % Surgical — 3,670 3,670 9.5 % 8,359 6,210 14,569 31.9 % Other 1,632 28 1,660 4.3 % 735 26 761 1.7 % Total revenues $ 16,135 $ 22,589 $ 38,724 100.0 % $ 21,218 $ 24,454 $ 45,672 100.0 % % Total revenues 41.7 % 58.3 % 46.5 % 53.5 % |
Schedule of Long-Lived Assets by Geographic Area | The following table represents property, equipment and right-of-use assets, net based on the geographic location of the asset: September 30, 2019 December 31, 2018 (unaudited) United States $ 3,158 $ 2,337 Costa Rica 3,359 3,347 Other 482 213 Total property, equipment and right-of-use assets, net $ 6,999 $ 5,897 |
Organization and Business Des_2
Organization and Business Description (Details) - Surgical Product Line [Member] - Disposal [Member] $ in Thousands | 1 Months Ended |
Dec. 31, 2018USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Proceeds from sale of assets | $ 10,000 |
Future cash consideration | $ 7,000 |
Significant Accounting Polici_3
Significant Accounting Policies (Details) - USD ($) $ in Thousands | 1 Months Ended | |
Dec. 31, 2018 | Jan. 01, 2019 | |
ASU 2016-02 [Member] | Retained Earnings [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Cumulative effect adjustment | $ 78 | |
Surgical Product Line [Member] | Disposal [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Product manufacture period | 2 years | |
Distributor period | 1 year |
Concentrations (Details)
Concentrations (Details) $ in Thousands | Sep. 30, 2019USD ($)bank | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Risks and Uncertainties [Abstract] | ||||
Number of banks | bank | 6 | |||
Cash and cash equivalents and restricted cash | $ | $ 35,976 | $ 25,007 | $ 29,454 | $ 31,418 |
Inventory (Details)
Inventory (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Inventory Disclosure [Abstract] | |||||
Raw materials | $ 3,085 | $ 3,085 | $ 3,806 | ||
Work in progress | 539 | 539 | 352 | ||
Finished goods | 7,209 | 7,209 | 5,774 | ||
Total inventory | 10,833 | 10,833 | $ 9,932 | ||
Inventory impairment | 40 | $ 106 | 80 | $ 367 | |
Consigned inventory | $ 200 | $ 200 |
Property, Equipment and Right_3
Property, Equipment and Right-of-Use Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 15,709 | $ 12,589 |
Less accumulated depreciation | (8,710) | (6,692) |
Property and equipment, net | 6,999 | 5,897 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 7,486 | 7,510 |
Depreciable Lives | 5 years | |
Right of Use Asset [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 2,762 | 0 |
Right of Use Asset [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 1 year | |
Right of Use Asset [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 5 years | |
Furniture Fixtures and Tooling [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 2,230 | 2,223 |
Furniture Fixtures and Tooling [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 4 years | |
Furniture Fixtures and Tooling [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 8 years | |
Computer Hardware [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 1,334 | 1,326 |
Computer Hardware [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 3 years | |
Computer Hardware [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 5 years | |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 1,400 | 1,400 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 3 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable Lives | 5 years | |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 497 | $ 130 |
Property, Equipment and Right_4
Property, Equipment and Right-of-Use Assets (Lease Maturity) (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Property, Plant and Equipment [Abstract] | |
2019 | $ 306 |
2020 | 1,015 |
2021 | 815 |
2022 | 137 |
2023 | 91 |
Thereafter | 28 |
Total lease payments | 2,392 |
Less imputed interest | (298) |
Total operating lease liabilities | $ 2,094 |
Property, Equipment and Right_5
Property, Equipment and Right-of-Use Assets (Lease Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |||
Lease liability | $ 885 | $ 885 | $ 0 |
Long-term lease liability | 1,209 | 1,209 | |
Cash paid within operating cash flows for operating leases | $ 306 | $ 958 | |
Weighted average remaining lease term | 2 years 3 months 21 days | 2 years 3 months 21 days | |
Weighted average discount rate, percent | 10.00% | 10.00% |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Surgical Product Line [Member] | Disposal [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Non-current receivable | $ 3,907 | $ 4,238 |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Payables and Accruals [Abstract] | ||
Accrued employee compensation and expenses | $ 3,116 | $ 3,804 |
Accrued professional service fees | 2,430 | 2,983 |
Settlement liability | 1,625 | 0 |
Lease liability | 885 | 0 |
Accrued insurance and taxes | 276 | 625 |
Accrued returns and rebates | 222 | 331 |
Other | 1,553 | 1,413 |
Total accrued expenses | $ 10,107 | $ 9,156 |
Long-Term Debt (Schedule of Lon
Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Discount on long-term debt | $ 0 | $ (175) |
Deferred financing costs | (1,071) | (277) |
Long-term debt | 34,276 | 21,190 |
Payment in Kind Interest [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 347 | 2,142 |
Line of Credit [Member] | Term Loan Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 35,000 | 0 |
Line of Credit [Member] | Senior Secured Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 0 | $ 19,500 |
Long-Term Debt (Schedule of Mat
Long-Term Debt (Schedule of Maturity of Long-term Debt) (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Debt Disclosure [Abstract] | |
2019 | $ 0 |
2020 | 0 |
2021 | 11,667 |
2022 | 14,000 |
2023 | 9,333 |
Thereafter | 0 |
Total | $ 35,000 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Aug. 31, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | |
Debt Instrument [Line Items] | |||||||
Line of credit | $ 35,000,000 | $ 35,000,000 | |||||
Proceeds from convertible debt | 20,000,000 | $ 0 | |||||
Interest expense | 1,284,000 | $ 1,152,000 | 3,504,000 | $ 3,279,000 | |||
Convertible Debt [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Proceeds from convertible debt | $ 20,000,000 | ||||||
Interest rate | 6.00% | ||||||
Interest expense | $ 208,000 | $ 208,000 | |||||
Line of Credit [Member] | Term Loan Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit | $ 35,000,000 | ||||||
Percent of outstanding amount due | 4.75% | ||||||
Commitment fee percentage | 4.50% | ||||||
Twelve month revenue amount | $ 100,000 | ||||||
Increase in limit | $ 15,000,000 | ||||||
Increase in minimum cash balance required | $ 12,500,000 | ||||||
Line of Credit [Member] | Term Loan Facility [Member] | LIBOR [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 7.50% | ||||||
Line of Credit [Member] | Senior Secured Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Repayments of debt | $ 22,372,000 | ||||||
Unamortized deferred financing costs and discount | $ 388,000 |
Convertible Debt (Schedule of C
Convertible Debt (Schedule of Convertible Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Deferred financing costs | $ (1,071) | $ (277) |
Long-term debt | 34,276 | 21,190 |
Convertible Debt [Member] | ||
Debt Instrument [Line Items] | ||
Convertible debt | 20,000 | 0 |
Deferred financing costs | (1,473) | 0 |
Long-term debt | $ 18,527 | $ 0 |
Convertible Debt (Narrative) (D
Convertible Debt (Narrative) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2019USD ($)d$ / shares | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | |
Debt Instrument [Line Items] | |||||
Proceeds from convertible debt | $ 20,000 | $ 0 | |||
Interest expense | $ 1,284 | $ 1,152 | 3,504 | $ 3,279 | |
Convertible Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from convertible debt | $ 20,000 | ||||
Interest rate | 6.00% | ||||
Interest expense | $ 208 | $ 208 | |||
Convertible Debt [Member] | Conversion Ratio Less Than 2.50 [Member] | |||||
Debt Instrument [Line Items] | |||||
Consecutive trading days (in days) | d | 10 | ||||
Convertible Debt [Member] | Conversion Ratio Of 3.25 [Member] | |||||
Debt Instrument [Line Items] | |||||
Consecutive trading days (in days) | d | 30 | ||||
Conversion price (USD per share) | $ / shares | $ 3.25 | ||||
Stock price trigger (USD per share) | $ / shares | $ 9.75 | ||||
Trading days (in days) | d | 20 |
Stock Based Compensation (Stock
Stock Based Compensation (Stock Option Activity) (Details) - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Options | ||
Options outstanding, beginning balance (in shares) | 1,502,756 | |
Options granted (in shares) | 781,705 | |
Options exercised (in shares) | (5,621) | |
Options forfeited (in shares) | (228,346) | |
Options vested and expected to vest (in shares) | 2,050,494 | |
Options exercisable (in shares) | 978,853 | |
Weighted Average Exercise Price | ||
Weighted average exercise price, beginning balance (in USD per share) | $ 5.63 | |
Options granted (in USD per share) | $ 3.47 | |
Options exercised (in USD per share) | 1.81 | |
Options forfeited (in USD per share) | 4.45 | |
Options vested and expected to vest (in USD per share) | 4.95 | |
Options exercisable (in USD per share) | $ 5.15 | |
Weighted Average Remaining Contractual Term | ||
Weighted Average Remaining Contractual Term | 7 years 8 months 12 days | |
Options vested and expected to vest | 7 years 8 months 12 days | |
Options exercisable | 6 years 2 months 12 days | |
Aggregate Intrinsic Value | ||
Aggregate intrinsic value | $ 217 | |
Options vested and expected to vest | $ 145 | |
Options exercisable | $ 130 |
Stock Based Compensation (Fair
Stock Based Compensation (Fair Value of Stock Options) (Details) - Stock Option [Member] | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk free interest rate | 2.20% | 2.70% |
Expected dividend yield | 0.00% | 0.00% |
Estimated volatility | 64.60% | 63.30% |
Expected life | 5 years 9 months 18 days | 5 years 9 months 18 days |
Stock Based Compensation (Addit
Stock Based Compensation (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation | $ 390 | $ 374 | $ 1,059 | $ 1,049 |
Unrecognized compensation expense related to unvested options | 2,836 | $ 2,836 | ||
Remaining amortization period | 2 years 8 months 12 days | |||
Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted-average grant date fair value of options granted during the period (in USD per share) | $ 2.04 | $ 3.95 | ||
Aggregate intrinsic value of options exercised during the period | $ 10 | $ 923 | ||
Options granted (in shares) | 781,705 | |||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options granted (in shares) | 136,197 | |||
Restricted stock units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Remaining amortization period | 3 years | |||
Unrecognized compensation expense related to unvested restricted stock units | $ 872 | $ 872 |
Stock Based Compensation (Restr
Stock Based Compensation (Restricted Stock Units Activity) (Details) - Restricted stock units [Member] - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Number of Units | |||
Unvested Units (shares) | 94,940 | ||
Restricted stock units granted (shares) | 200,009 | ||
Restricted stock units vested (shares) | (29,826) | ||
Restricted stock units forfeited (shares) | 15,971 | ||
Unvested Units (shares) | 249,152 | ||
Weighted-Average Grant Date Fair Value | |||
Unvested Units (USD per share) | $ 6.21 | ||
Restricted stock units granted (USD per share) | 3.46 | ||
Restricted stock units vested (USD per share) | 6.66 | ||
Restricted stock units forfeited (USD per share) | $ 4.37 | ||
Unvested Units (USD per share) | $ 4.07 | ||
Aggregate Intrinsic Value | |||
Aggregate Intrinsic Value | $ 820 | $ 328 |
Income Taxes (Details)
Income Taxes (Details) | Sep. 30, 2019USD ($) |
Income Tax Disclosure [Abstract] | |
Unrecognized tax benefits | $ 0 |
Accrued interest | 0 |
Tax penalties | $ 0 |
Net Loss Per Share (Details)
Net Loss Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of diluted loss per share | 6,279,738 | 2,016,749 | 3,363,866 | 1,853,525 |
Warrants for common [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of diluted loss per share | 736,980 | 251,189 | 383,858 | 251,189 |
Convertible Debt [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of diluted loss per share | 3,304,235 | 0 | 1,113,515 | 0 |
Common stock options [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of diluted loss per share | 2,004,749 | 1,665,456 | 1,716,127 | 1,515,487 |
Restricted stock units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of diluted loss per share | 233,774 | 100,104 | 150,366 | 86,849 |
Net Loss Per Share (Narrative)
Net Loss Per Share (Narrative) (Details) - Warrant | 1 Months Ended |
Aug. 31, 2019$ / sharesshares | |
Class of Warrant or Right [Line Items] | |
Issued warrants to purchase shares, number of shares (in shares) | 1,000,000 |
Exercise price (USD per share) | $ / shares | $ 0.001 |
Exchange of shares for warrants (in shares) | 1,000,000 |
Percentage of outstanding stock | 9.99% |
Liquidity and Capital Resourc_2
Liquidity and Capital Resources (Details) $ in Thousands | 1 Months Ended | 9 Months Ended | |||
Aug. 31, 2019USD ($)d | Mar. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |||||
Accumulated deficit | $ 242,966 | $ 222,808 | |||
Line of credit | 35,000 | ||||
Proceeds from convertible debt | $ 20,000 | $ 0 | |||
Convertible Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from convertible debt | $ 20,000 | ||||
Interest rate | 6.00% | ||||
Convertible Debt [Member] | Conversion Ratio Less Than 2.50 [Member] | |||||
Debt Instrument [Line Items] | |||||
Consecutive trading days (in days) | d | 10 | ||||
Term Loan Facility [Member] | Line of Credit [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of credit | $ 35,000 | ||||
Senior Secured Credit Facility [Member] | Line of Credit [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of debt | $ 22,372 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Fair Value Disclosures [Abstract] | |
Convertible debt, fair value | $ 20,000 |
Fair value of long-term debt | $ 35,000 |
Segment and Geographic Inform_3
Segment and Geographic Information (Segment Information) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)segment | Sep. 30, 2018USD ($) | |
Segment Reporting [Abstract] | ||||
Number of reportable segments | segment | 1 | |||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 11,259 | $ 14,141 | $ 38,724 | $ 45,672 |
Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 100.00% | 100.00% | 100.00% | 100.00% |
U.S. [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 5,027 | $ 6,686 | $ 16,135 | $ 21,218 |
U.S. [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 44.60% | 47.30% | 41.70% | 46.50% |
OUS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 6,232 | $ 7,455 | $ 22,589 | $ 24,454 |
OUS [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 55.40% | 52.70% | 58.30% | 53.50% |
OUS [Member] | Distributor Sales [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 34.40% | 23.40% | 31.80% | 21.80% |
Non-US, Next Largest Single Country [Member] | Distributor Sales [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 6.80% | 7.20% | 8.20% | 7.80% |
ESS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 6,660 | $ 5,209 | $ 20,837 | $ 16,456 |
ESS [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 59.20% | 36.80% | 53.80% | 36.00% |
ESS [Member] | U.S. [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 3,711 | $ 2,511 | $ 10,498 | $ 7,663 |
ESS [Member] | OUS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | 2,949 | 2,698 | 10,339 | 8,793 |
IGB [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 3,721 | $ 4,073 | $ 12,557 | $ 13,886 |
IGB [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 33.00% | 28.80% | 32.40% | 30.40% |
IGB [Member] | U.S. [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 1,088 | $ 1,175 | $ 4,005 | $ 4,461 |
IGB [Member] | OUS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | 2,633 | 2,898 | 8,552 | 9,425 |
Endoscopy [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 10,381 | $ 9,282 | $ 33,394 | $ 30,342 |
Endoscopy [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 92.20% | 65.60% | 86.20% | 66.40% |
Endoscopy [Member] | U.S. [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 4,799 | $ 3,686 | $ 14,503 | $ 12,124 |
Endoscopy [Member] | OUS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | 5,582 | 5,596 | 18,891 | 18,218 |
Surgical [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 640 | $ 4,641 | $ 3,670 | $ 14,569 |
Surgical [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 5.70% | 32.90% | 9.50% | 31.90% |
Surgical [Member] | U.S. [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 0 | $ 2,790 | $ 0 | $ 8,359 |
Surgical [Member] | OUS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | 640 | 1,851 | 3,670 | 6,210 |
Other [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 238 | $ 218 | $ 1,660 | $ 761 |
Other [Member] | Segment Revenue [Member] | Product Risk [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Percentage of revenue or sales | 2.10% | 1.50% | 4.30% | 1.70% |
Other [Member] | U.S. [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 228 | $ 210 | $ 1,632 | $ 735 |
Other [Member] | OUS [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenues | $ 10 | $ 8 | $ 28 | $ 26 |
Segment and Geographic Inform_4
Segment and Geographic Information (Long-Lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property, equipment and right-of-use assets, net | $ 6,999 | $ 5,897 |
U.S. [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property, equipment and right-of-use assets, net | 3,158 | 2,337 |
Costa Rica [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property, equipment and right-of-use assets, net | 3,359 | 3,347 |
Other [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property, equipment and right-of-use assets, net | $ 482 | $ 213 |