Airgain (AIRG) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	AIRG
Entity Registrant Name	AIRGAIN INC
Entity Central Index Key	1,272,842
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		7,579,725

Unaudited Condensed Balance She

Unaudited Condensed Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 16,826,304	$ 5,335,913
Trade accounts receivable, net	5,766,465	3,731,998
Inventory	105,019	119,733
Prepaid expenses and other current assets	439,398	191,502
Total current assets	23,137,186	9,379,146
Property and equipment, net	945,007	1,026,784
Goodwill	1,249,956	1,249,956
Customer relationships, net	2,901,668	3,137,918
Intangible assets, net	305,315	345,069
Other assets	96,119	121,541
Total assets	28,635,251	15,260,414
Current liabilities:
Accounts payable	4,183,395	2,873,471
Accrued bonus	1,142,243	1,335,500
Accrued liabilities	796,033	660,987
Deferred purchase price	1,000,000	1,000,000
Current portion of long-term notes payable	1,463,300	1,625,030
Current portion of deferred rent obligation under operating lease	81,332	81,332
Total current liabilities	8,666,303	7,576,320
Preferred stock warrant liability		709,504
Long-term notes payable	1,666,667	2,721,865
Deferred tax liability	7,900
Deferred rent obligation under operating lease	478,592	558,641
Total liabilities	10,819,462	11,566,330
Stockholders’ equity (deficit):
Common shares, par value $0.0001, 200,000,000 and 80,000,000 shares authorized at September 30, 2016 and December 31, 2015, respectively; 7,577,525 and 665,842 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	758	1,094,375
Additional paid in capital	62,540,825
Accumulated deficit	(44,725,794)	(46,475,746)
Total stockholders’ equity (deficit)	17,815,789	(39,412,822)
Commitments and contingencies (note 13)
Total liabilities, preferred redeemable convertible stock and stockholders’ equity (deficit)	$ 28,635,251	15,260,414
Series E Preferred Redeemable Convertible Stock
Preferred redeemable convertible stock:
Preferred redeemable convertible stock, value		16,274,823
Series F Preferred Redeemable Convertible Stock
Preferred redeemable convertible stock:
Preferred redeemable convertible stock, value		10,517,081
Series G Preferred Redeemable Convertible Stock
Preferred redeemable convertible stock:
Preferred redeemable convertible stock, value		16,315,002
Series A Preferred Convertible Stock
Stockholders’ equity (deficit):
Preferred convertible stock, value		976,000
Series B Preferred Convertible Stock
Stockholders’ equity (deficit):
Preferred convertible stock, value		2,457,253
Series C Preferred Convertible Stock
Stockholders’ equity (deficit):
Preferred convertible stock, value		549,010
Series D Preferred Convertible Stock
Stockholders’ equity (deficit):
Preferred convertible stock, value		$ 1,986,286

Unaudited Condensed Balance Sh3

Unaudited Condensed Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	80,000,000
Common stock, shares issued	7,577,525	665,842
Common stock, shares outstanding	7,577,525	665,842
Series E Preferred Redeemable Convertible Stock
Preferred redeemable convertible stock, shares authorized		10,500,000
Preferred redeemable convertible stock, shares issued	0	8,202,466
Preferred redeemable convertible stock, shares outstanding	0	8,202,466
Preferred redeemable convertible stock, liquidation preference	$ 0	$ 16,274,823
Series F Preferred Redeemable Convertible Stock
Preferred redeemable convertible stock, shares authorized		5,000,000
Preferred redeemable convertible stock, shares issued	0	4,734,374
Preferred redeemable convertible stock, shares outstanding	0	4,734,374
Preferred redeemable convertible stock, liquidation preference	$ 0	$ 10,517,081
Series G Preferred Redeemable Convertible Stock
Preferred redeemable convertible stock, shares authorized		23,500,000
Preferred redeemable convertible stock, shares issued	0	10,334,862
Preferred redeemable convertible stock, shares outstanding	0	10,334,862
Preferred redeemable convertible stock, liquidation preference	$ 0	$ 17,987,553
Series A Preferred Convertible Stock
Preferred convertible stock, shares authorized		313,500
Preferred convertible stock, shares issued	0	313,500
Preferred convertible stock, shares outstanding	0	313,500
Preferred convertible stock, liquidation preference	$ 0	$ 2,416,194
Series B Preferred Convertible Stock
Preferred convertible stock, shares authorized		1,183,330
Preferred convertible stock, shares issued	0	1,157,606
Preferred convertible stock, shares outstanding	0	1,157,606
Preferred convertible stock, liquidation preference	$ 0	$ 5,081,890
Series C Preferred Convertible Stock
Preferred convertible stock, shares authorized		682,000
Preferred convertible stock, shares issued	0	682,000
Preferred convertible stock, shares outstanding	0	682,000
Preferred convertible stock, liquidation preference	$ 0	$ 682,000
Series D Preferred Convertible Stock
Preferred convertible stock, shares authorized		4,276,003
Preferred convertible stock, shares issued	0	4,091,068
Preferred convertible stock, shares outstanding	0	4,091,068
Preferred convertible stock, liquidation preference	$ 0	$ 4,516,013

Unaudited Condensed Statements

Unaudited Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Sales	$ 12,439,279	$ 6,668,732	$ 30,807,902	$ 18,459,590
Cost of goods sold	6,862,992	3,893,657	17,007,228	10,657,495
Gross profit	5,576,287	2,775,075	13,800,674	7,802,095
Operating expenses:
Research and development	1,432,581	1,075,228	4,096,670	3,099,080
Sales and marketing	1,453,391	940,155	4,078,250	2,840,514
General and administrative	1,459,993	830,723	3,304,790	2,393,433
Total operating expenses	4,345,965	2,846,106	11,479,710	8,333,027
Income (loss) from operations	1,230,322	(71,031)	2,320,964	(530,932)
Other expense (income):
Interest income	(1,735)		(1,735)
Interest expense	41,735	7,311	141,505	25,000
Fair market value adjustment - warrants		(78,833)	(460,289)	(336,971)
Total other expense (income)	40,000	(71,522)	(320,519)	(311,971)
Income (loss) before income taxes	1,190,322	491	2,641,483	(218,961)
Provision (benefit) for income taxes	7,278	(178)	8,078	9,222
Net income (loss)	1,183,044	669	2,633,405	(228,183)
Accretion of dividends on preferred convertible stock	(322,170)	(617,493)	(1,537,021)	(1,827,461)
Net income (loss) attributable to common stockholders	$ 860,874	$ (616,824)	$ 1,096,384	$ (2,055,644)
Net income (loss) per share:
Basic	$ 0.21	$ (0.93)	$ 0.59	$ (3.18)
Diluted	$ 0.16	$ (1.05)	$ 0.25	$ (3.70)
Weighted average shares used in calculating income (loss) per share
Basic	4,133,020	662,415	1,849,647	646,877
Diluted	6,689,332	662,415	3,103,784	646,877

Unaudited Condensed Statement o

Unaudited Condensed Statement of Stockholders' Equity - 9 months ended Sep. 30, 2016 - USD ($)	Total	Preferred Convertible Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance at Dec. 31, 2015	$ (39,412,822)	$ 5,968,549	$ 1,094,375		$ (46,475,746)
Beginning balance, shares at Dec. 31, 2015		6,244,174	665,842
Stock-based compensation	224,039			$ 224,039
Conversion of warrants	249,215			249,215
Conversion of warrants, shares			127,143
Exercise of stock options	$ 112,100		$ 112,100
Exercise of stock options, shares	46,500		46,500
Effect of accretion to redemption value	$ (1,356,707)			(473,254)	(883,453)
Change in par value from no par value to $0.0001			$ (1,206,391)	1,206,391
Issuance of common stock upon initial public offering, net of issuance costs	10,776,729		$ 170	10,776,559
Issuance of common stock upon initial public offering, net of issuance costs, shares			1,700,100
Issuance of warrants	126,218			126,218
Conversion of preferred redeemable convertible stock to common stock upon initial public offering	44,463,612		$ 378	44,463,234
Conversion of preferred redeemable convertible stock to common stock upon initial public offering, shares			3,778,753
Conversion of preferred convertible stock to common stock upon initial public offering		$ (5,968,549)	$ 126	5,968,423
Conversion of preferred convertible stock to common stock upon initial public offering, shares		(6,244,174)	1,259,187
Net income	2,633,405				2,633,405
Ending balance at Sep. 30, 2016	$ 17,815,789		$ 758	$ 62,540,825	$ (44,725,794)
Ending balance, shares at Sep. 30, 2016			7,577,525

Unaudited Condensed Statement 6

Unaudited Condensed Statement of Stockholders' Equity (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement Of Stockholders Equity [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001

Unaudited Condensed Statements7

Unaudited Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ 2,633,405	$ (228,183)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	357,425	343,529
Amortization	276,004	0
Fair market value adjustment - warrants	(460,289)	(336,971)
Stock-based compensation	224,039	310,719
Changes in operating assets and liabilities:
Trade accounts receivable	(2,034,467)	127,128
Inventory	14,714	(136,068)
Prepaid expenses and other assets	(214,574)	25,411
Accounts payable	1,309,924	(77,163)
Accrued bonus	(193,257)	(156,966)
Accrued liabilities	135,046	188,010
Deferred obligation under operating lease	(80,049)	(68,717)
Net cash provided by (used in) operating activities	1,967,921	(9,271)
Cash flows from investing activities:
Purchases of property and equipment	(275,649)	(93,455)
Net cash used in investing activities	(275,649)	(93,455)
Cash flows from financing activities:
Repayment of notes payable	(1,216,928)	(203,169)
Proceeds from initial public offering	13,600,800
Costs related to initial public offering	(2,697,853)
Proceeds from exercise of warrants		225,000
Proceeds from exercise of stock options	112,100	77,372
Net cash provided by financing activities	9,798,119	99,203
Net increase (decrease) in cash and cash equivalents	11,490,391	(3,523)
Cash, beginning of period	5,335,913	3,590,745
Cash, end of period	16,826,304	3,587,222
Supplemental disclosure of cash flow information
Interest paid	141,505	25,000
Supplemental disclosure of non-cash investing and financing activities:
Accretion of Series E, F, and G preferred redeemable convertible stock to redemption amount	1,356,707	$ 1,612,500
Conversion of warrants	249,215
Conversion of preferred stock into common stock	50,432,161
Issuance of warrants to underwriters in connection with initial public offering	$ 126,218

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Business Description Airgain, Inc. (the Company) was incorporated in the State of California on March 20, 1995, and reincorporated in the State of Delaware on August 15, 2016. The Company is a leading provider of embedded antenna technologies used to enable high performance wireless networking across a broad range of home, enterprise, and industrial devices. The Company designs, develops, and engineers its antenna products for original equipment and design manufacturers worldwide. The Company’s main office is in San Diego, California with office space and research facilities in San Diego, California, Taipei, Taiwan, Shenzhen and Jiangsu, China and Cambridgeshire, United Kingdom. Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Interim financial results are not necessarily indicative of results anticipated for the full year. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the financial statements and accompanying notes included in the Company’s final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on August 12, 2016. The condensed balance sheet as of December 31, 2015 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. The condensed statements of operations for the three months ended September 30, 2016 and September 30, 2015 and the nine months ended September 30, 2016 and September 30, 2015, and the balance sheet data as of September 30, 2016 have been prepared on the same basis as the audited financial statements. In the opinion of management, the accompanying unaudited condensed financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation of results of the Company’s operations and financial position for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2016 or for any future period. In July 2016, the Company effected a one-for-ten reverse stock split of its common stock. All issued and outstanding common stock and per share amounts contained in the financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. Inventory The vast majority of the Company’s products are manufactured by third parties that retain ownership of the inventory until title is transferred to the customer at the shipping point. In certain instances, shipping terms are delivery at place and the Company is responsible for arranging transportation and delivery of goods ready for unloading at the name place. The Company bears all risk involved in bringing the goods to the named place and records the related inventory in transit to the customer as inventory on the accompanying balance sheet. Segment Information The Company’s operations are located primarily in the United States, and most of its assets are located in San Diego, California. The Company operates in one segment related to the sale of antenna products. The Company’s chief operating decision-maker is its chief executive officer, who reviews operating results on an aggregate basis and manages the Company’s opertions as a single operating segment. Initial Public Offering On August 17, 2016, the Company completed its initial public offering (IPO) in which it issued and sold 1.5 million shares of common stock at a public offering price of $8.00 per share. The Company received net proceeds of approximately $9.3 million after deducting underwriting discounts and commissions of $1.0 million and estimated offering-related transaction costs of approximately $1.7 million. Upon the closing of the IPO, all shares of the Company’s then-outstanding preferred redeemable convertible stock and preferred convertible stock automatically converted into an aggregate of 3,080,733 shares of common stock and the Company issued 1,957,207 shares of common stock in satisfaction of accumulated dividends. Additionally, the Company reduced the number of preferred shares authorized to a total of 10,000,000 shares. On August 29, 2016 the underwriters exercised their over-allotment option to purchase an additional 200,100 shares of common stock at the public offering price of $8.00 per share, which resulted in net proceeds to the Company of approximately $1.5 million, after deducting underwriting discounts, commissions and estimated offering-related transaction costs of approximately $0.1 million. Use of Estimates The preparation of 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. Significant items subject to such estimates and assumptions include valuation of the preferred redeemable convertible stock warrant liability and determining the assumptions used in measuring stock-based compensation expense.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies as described in the Proscpectus that have had a material impact on the Company’s unaudited condensed financial statements and related notes. Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short maturity of these instruments. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. The Company follows a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets. Because some of the inputs to the Company’s valuation model were either not observable or were not derived principally from or corroborated by observable market data by correlation or other means, the warrant liability was classified as Level 3 in the fair value hierarchy. The following table provides a summary of the recognized liabilities carried at fair value on a recurring basis: Balance as of December 31, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant liability (note 10) $ — — $ 709,504 The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1, Level 2, or Level 3 for the nine months ended September 30, 2016 and the year ended December 31, 2015. The following table provides a rollforward of the Company’s Level 3 fair value measurements during the nine months ended September 30, 2016 and 2015: Nine Months Ended September 30, 2016 2015 Beginning balance $ 709,504 $ 809,974 Change in fair value of warrant liability (460,289 ) (336,971 ) Conversion of warrants (249,215 ) — Ending balance $ — $ 473,003 In May 2016, the warrants were amended such that the warrants became immediately exercisable into shares of the Company’s common stock. Concurrent with such amendment, the holders of the outstanding warrants elected to net exercise the warrants, and the Company issued an aggregate of 127,143 shares of common stock. A final valuation of the warrants was completed and the remaining balance was reclassified to additional paid in capital. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (FASB), issued Accounting Standards Update, or ASU, No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments which simplifies the way cash receipts and cash payments are presented on the statement of cash flows. For public entities, ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact the guidance will have on its financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company has adopted this standard. The impact on the financial statements was immaterial. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-2), which requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use assets. The new standard is effective January 1, 2019. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on the Company’s ongoing financial reporting. In November 2015, the FASB issued Accounting Standards Update No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. This guidance simplifies the presentation of deferred income taxes by requiring that deferred tax liabilities and assets all be classified as noncurrent in a classified statement of financial position. The guidance is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2016, with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on its financial statements. In September 2015, the FASB issued Accounting Standards Update No. 2015-16, Business Combinations (Topic 815): Simplifying the Accounting Measurement-Period Adjustments. This guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2015. The Company does not expect the adoption of this guidance to have a material impact on its financial statements. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. The update requires companies to measure certain inventory at the lower of cost and net realizable value. This guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those years on a prospective basis. Early application is permitted. The Company does not expect the adoption of this guidance to have a material impact on its financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with customers (ASU 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for us on January 1, 2019. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of that standard on the Company’s ongoing financial reporting.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Note 3. Net Income (Loss) Per Share Basic net income or loss per share is calculated by dividing net income or loss available to common stockholders by the weighted average shares of common stock outstanding for the period. The per share computations reflect the one-for-ten reverse stock split that was effected in July 2016. Diluted net income or loss per share is calculated by dividing net income or loss by the weighted average shares of common stock outstanding for the period plus amounts representing the dilutive effect of securities that are convertible into common stock. Preferred dividends are deducted from net income or loss in arriving at net income or loss attributable to common stockholders. The Company calculates diluted earnings or loss per common share using the treasury stock method and the as-if-converted method, as applicable. The following table presents the computation of net income or loss per share: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ 1,183,044 $ 669 $ 2,633,405 $ (228,183 ) Accretion of dividends on preferred stock (322,170 ) (617,493 ) (1,537,021 ) (1,827,461 ) Net income (loss) attributable to common stockholders - basic $ 860,874 $ (616,824 ) $ 1,096,384 $ (2,055,644 ) Accretion of dividends on preferred stock 186,868 — 125,205 — Adjustment for change in fair value of warrant liability — (78,833 ) (460,289 ) (336,971 ) Net income (loss) attributable to common stockholders - diluted $ 1,047,742 $ (695,657 ) $ 761,300 $ (2,392,615 ) Denominator: Weighted average common shares outstanding Basic 4,133,020 662,415 1,849,647 646,877 Diluted 6,689,332 662,415 3,103,784 646,877 Net income (loss) per share: Basic $ 0.21 $ (0.93 ) $ 0.59 $ (3.18 ) Diluted $ 0.16 $ (1.05 ) $ 0.25 $ (3.70 ) Potentially dilutive securities not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Preferred redeemable convertible stock, including accumulated dividends 788,074 4,836,572 3,253,254 4,781,940 Employee stock options — 1,107,929 — 1,107,929 Warrants outstanding 51,003 — 51,003 — Series G preferred stock warrants outstanding — 788,338 — 788,338 Total 839,077 6,732,839 3,304,257 6,678,207

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisition	Note 4. Acquisition On December 17, 2015, the Company executed and entered into an asset purchase agreement for certain North American assets of Skycross, Inc. (Skycross), a manufacturer of advanced antenna and radio-frequency solutions. As a result of the acquisition, the Company expects to benefit from the acquisition primarily through the addition of new customers. The goodwill of $1,249,956 arising from the acquisition relates to expected synergies and cost reductions through economies of scale. Upon fulfillment of the contingent consideration arrangement, the amount of goodwill expected to be deductible for tax purposes is $1,249,956. In addition to the $4.0 million paid up front, the purchase price also includes a contingent consideration arrangement. The $1.0 million of deferred consideration is contingent upon the later of (i) the expiration of the Transition Services Agreement between the Company and Skycross, Inc. which defines transition services to be provided by Skycross to the Company and (ii) the date on which the Company has received copies of third party approvals with respect to each customer and program that was purchased. The potential undiscounted amount of all future payments that could be required to be paid under the contingent consideration arrangement is between $0.0 and $1.0 million. The fair value of the contingent consideration was estimated by applying the income approach. The income approach is based on estimating the value of the present worth of future net cash flows. The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date. Consideration: Cash $ 4,000,000 Contingent consideration arrangement 1,000,000 Fair value of total consideration transferred $ 5,000,000 Recognized amounts of identifiable assets acquired and liabilities assumed: Accounts receivable $ 429,267 Intangible assets 3,497,000 Current liabilities (176,223 ) Total identifiable net assets acquired 3,750,044 Goodwill 1,249,956 Total $ 5,000,000 The fair value of accounts receivable was $429,267 at the date of acquisition. The contingent consideration of $1.0 million is included in the deferred purchase price balance on the accompanying balance sheet as of September 30, 2016. Revenue associated with the acquired Skycross assets since the date of acquisition was $1.4 million and $3.7 million for the three and nine months ended September 30, 2016, respectively. Cost of goods sold associated with the acquired Skycross assets since the date of acquisition was $0.5 million and $1.3 million for the three and nine months ended September 30, 2016, respectively. The acquired assets were not managed as a discrete business by the previous owner. Accordingly, the historical financial information for the assets acquired was impracticable to obtain, and inclusion of pro forma information would require the Company to make estimates and assumptions regarding these assets’ historical financial results that may not be reasonable or accurate. As a result, pro forma results are not presented. It is not practicable to determine net income included in the Company’s operating results relating to Skycross assets since the date of acquisition because the assets have been fully integrated into the Company’s operations, and the operating results of the Skycross assets can therefore not be separately identified.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 5. Goodwill Changes to the Company’s goodwill balance during the year ended December 31, 2015 and the nine months ended September 30, 2016 are as follows: Balance at December 31, 2014 $ — Skycross acquisition 1,249,956 Balance at December 31, 2015 $ 1,249,956 Current period adjustments — Balance at September 30, 2016 $ 1,249,956

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 6. Intangible Assets The following is a summary of the Company’s acquired intangible assets: September 30, 2016 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Intangibles, Net Developed technologies 5 $ 280,000 $ 24,078 $ 255,922 Customer relationships 10 3,150,000 248,332 2,901,668 Non-compete agreement 3 67,000 17,607 49,393 Total intangible assets, net 10 $ 3,497,000 $ 290,017 $ 3,206,983 December 31, 2015 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Intangibles, Net Developed technologies 10 $ 280,000 $ 1,074 $ 278,926 Customer relationships 10 3,150,000 12,082 3,137,918 Non-compete agreement 3 67,000 857 66,143 Total intangible assets, net 10 $ 3,497,000 $ 14,013 $ 3,482,987 During the three months ended September 30, 2016, the Company reevaluated the useful life of the developed technologies intangible asset and determined the useful life should be reduced from 10 years to 5 years. The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a results of acquisitions, divestitures, asset impairments, among other factors. Amortization expense was $93,338 and $0 for the three months ended September 30, 2016 and 2015, respectively, and $276,004 and $0 for the nine months ended September 30, 2016 and 2015, respectively. Estimated Future Amortization 2016 (remaining three months) $ 97,346 2017 389,385 2018 388,529 2019 367,052 2020 366,333 Thereafter 1,598,338 Total $ 3,206,983

Long-term Notes Payable (includ

Long-term Notes Payable (including current portion) and Line of Credit	9 Months Ended
	Sep. 30, 2016
Long Term Debt [Abstract]
Long-term Notes Payable (including current portion) and Line of Credit	Note 7. Long-term Notes Payable (including current portion) and Line of Credit In June 2012, the Company amended its line of credit with Silicon Valley Bank. The amended revolving line of credit facility allows for an advance up to $3.0 million. The facility bears interest at the U.S. prime rate (3.5% as of December 31, 2015) plus 1.25%. The revolving facility is available as long as the Company maintains a liquidity ratio of cash and cash equivalents plus accounts receivable to outstanding debt under the facility of 1.25 to 1.00; otherwise, the facility reverts to its previous eligible receivables financing arrangement. The amended facility matures in April 2018. The bank has a first security interest in all the Company’s assets excluding intellectual property, for which the bank has received a negative pledge. There was no balance owed on the line of credit as of September 30, 2016 and December 31, 2015. In December 2013, the Company further amended its revolving line of credit with Silicon Valley Bank to include a growth capital term loan of up to $750,000. The growth capital term loan requires interest only payments through June 30, 2014 at which point it is to be repaid in 32 equal monthly installments of interest and principal. The growth capital term loan matures on February 1, 2017, at which time all unpaid principal and accrued and unpaid interest is due. The growth capital term loan interest rate is 6.5%. The Company must maintain a liquidity ratio of cash and cash equivalents plus accounts receivable to outstanding debt under the facility of greater than or equal to 1.00 to 1.00. As of September 30, 2016 and December 31, 2015, $129,967 and $346,895 was outstanding under this loan, respectively. The remaining principal payments on the growth capital term loan subsequent to September 30, 2016 are as follows: Year ending: 2016 $ 74,747 2017 55,220 $ 129,967 In December 2015, the Company entered into a loan agreement with Silicon Valley Bank in the amount of $4.0 million. The loan requires 36 monthly installments of interest and principal. The loan matures on December 1, 2018. The loan agreement requires the Company to maintain a liquidity ratio of 1.25 to 1.00 as of the last day of each month and a minimum EBITDA, (as defined in the agreement), measured as of the last day of each fiscal quarter for the previous six-month period (for September 30, 2016 the minimum EBITDA was $250,000). The interest rate is 5%. As of September 30, 2016 and December 31, 2015, $3,000,000 and $4,000,000 was outstanding under this loan, respectively. The remaining principal payments on the $4.0 million loan subsequent to September 30, 2016 are as follows: Year ending: 2016 $ 333,333 2017 1,333,333 2018 1,333,334 $ 3,000,000 The Company was in compliance with all financial term loan and line of credit financial covenants as of September 30, 2016.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company’s effective income tax rate was 0.6% and 0.3% for the three months and nine months ended September 30, 2016. The variance from the U.S. federal statutory tax rate of 34% was primarily attributable to the utilization of deferred tax attributes that had a full valuation allowance as well as nondeductible meals and entertainment expenses, nondeductible incentive stock option compensation expenses, and nontaxable warrant adjustments. Management assesses its deferred tax assets quarterly to determine whether all or any portion of the asset is more likely than not unrealizable under Accounting Standards Codification (ASC) 740. The Company is required to establish a valuation allowance for any portion of the asset that management concludes is more likely than not to be unrealizable. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company’s assessment considers all evidence, both positive and negative, including the nature, frequency and severity of any current and cumulative losses, taxable income in carryback years, the scheduled reversal of deferred tax liabilities, tax planning strategies, and projected future taxable income in making this assessment. At September 30, 2016 and December 31, 2015, the Company has a full valuation allowance against net deferred tax assets. FASB ASC Topic 740, Income Taxes prescribes a recognition threshold and a measurement criterion for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be considered more likely than not to be sustained upon examination by taxing authorities. The Company records interest and penalties related to uncertain tax positions as a component of the provision for income taxes. As of September 30, 2016 and December 31, 2015 the Company has gross unrecognized tax benefits of $1.5 million and $1.4 million, respectively, which are offsetting deferred tax assets. As of September 30, 2016, the Company has $17.7 million in federal and $7.1 million in state net operating loss carryforwards to offset future taxable income. Current federal and state tax laws include substantial restrictions on the annual utilization of net operating loss and tax credit carryforwards in the event of an ownership change. Accordingly, the Company’s ability to utilize net operating loss and tax credit carryforwards may be limited as a result of such ownership change. Such information could result in the expiration of carryforwards before they are utilized.

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit)	9 Months Ended
	Sep. 30, 2016
Class Of Stock Disclosures [Abstract]
Stockholders' Equity (Deficit)	Note 9. Stockholders’ Equity (Deficit) (a) Preferred Convertible Stock In June 2000, the Company sold 313,500 shares of Series A preferred convertible stock (Series A Preferred Stock) at $3.84 per share for gross proceeds of $1.2 million. In March 2001, the Company sold 290,993 shares of Series B preferred convertible stock (Series B Preferred Stock) at $4.39 per share for gross proceeds of $1.3 million in cash. At various times during 2003 the company issued a total of 866,613 additional shares of Series B Preferred Stock for cash and as compensation for services received and to satisfy debt obligations totaling approximately $1.2 million. In September 2003, the Company sold 682,000 shares of Series C preferred convertible stock (Series C Preferred Stock) at $1.00 per share for gross proceeds of $0.7 million. In November 2003, the Company sold 4,091,068 shares of Series D Preferred Convertible Stock (Series D Preferred Stock) at $0.542 per share for gross proceeds of $2.2 million. The holders of the Series A, B, C and D Preferred Stock (collectively, Junior Preferred Stock), are entitled to receive cumulative dividends at a rate of $0.0488, $0.00, $0.00 and $0.0488 per share, per annum, respectively, and are payable upon liquidation, redemption or conversion in order of their preference prior to any dividends on common stock. The holders of the Junior Preferred Stock were entitled to receive liquidation preferences upon certain deemed liquidation events at the rate equal to their purchase price per share plus all accrued and unpaid dividends. In connection with the completion of the IPO, all 6,244,174 outstanding shares of the Company’s preferred convertible stock automatically converted into an aggregate of 753,611 shares of common stock. In addition, the Company issued 505,576 shares of its common stock in satisfaction of accumulated dividends on such preferred stock as of the completion of the IPO. (b) Shares Reserved for Future Issuance The following common stock is reserved for future issuance at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Conversion of Series A, B, C, and D preferred convertible stock — 753,687 Conversion of Series E, F, and G preferred redeemable convertible stock — 2,327,170 Warrants issued and outstanding 51,003 788,338 Stock option awards issued and outstanding 1,037,267 756,692 Authorized for grants under the 2013 Equity Incentive Plan 481,999 321,313 Authorized for grants under the 2016 Equity Incentive Plan 400,000 — 1,970,269 4,947,200

Preferred Redeemable Convertibl

Preferred Redeemable Convertible Stock	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Preferred Redeemable Convertible Stock	Note 10. Preferred Redeemable Convertible Stock In June 2005 and February 2006, the Company sold a total of 7,984,727 shares of Series E Preferred Redeemable Convertible Stock (Series E Preferred Stock) at $1.11 per share for gross proceeds of $8.8 million in cash. In February 2007, the Company sold 4,734,374 shares of Series F Preferred Redeemable Convertible Stock (Series F Preferred Stock) at $1.30 per share for gross proceeds of $6.2 million in cash. In March 2008 and June 2009, the Company completed an offering of Series G Preferred Stock at $1.30 per share for gross proceeds of $4.3 million in cash. In June 2012, the then outstanding convertible promissory notes and accrued interest thereon in the amount of $7.1 million converted to 6,216,607 and 463,856 shares of Series G Preferred Stock at the conversion price of $1.04 or $1.30 per share, respectively. The holders of the Senior Preferred Stock were entitled to receive cumulative dividends at a rate of 8.0% of the original purchase price per annum and were payable in cash or common shares, at the option of the Company upon liquidation, redemption or conversion in order of their preference prior to any dividends on common stock or Junior Preferred Stock. The holders of the Senior Preferred Stock were entitled to receive liquidation preferences upon certain deemed liquidation events at the rate equal to their conversion price per share plus all accrued and unpaid dividends. The following table provides a rollforward of the preferred redeemable convertible stock during the year ended December 31, 2015 and the nine months ended September 30, 2016: Preferred redeemable convertible stock Shares Amount Balance at December 31, 2014 23,055,356 $ 40,724,356 Exercise of warrants 216,346 225,000 Effect of accretion to redemption value — 2,157,550 Balance at December 31, 2015 23,271,702 43,106,906 Effect of accretion to redemption value — 1,356,707 Conversion of preferred redeemable convertible stock into common stock (23,271,702 ) (44,463,613 ) Balance at September 30, 2016 — $ — In connection with the completion of the IPO, all 23,271,702 outstanding shares of the Company’s preferred redeemable convertible stock automatically converted into 2,327,122 shares of common stock. In addition, the Company issued 1,451,631 shares of its common stock in satisfaction of accumulated dividends on such preferred stock as of the completion of the IPO.

Warrants

Warrants	9 Months Ended
	Sep. 30, 2016
Warrants And Rights Note Disclosure [Abstract]
Warrants	Note 11. Warrants As of December 31, 2015, the Company had warrants outstanding that allow the holders to purchase shares of the Company’s Series G Preferred Stock. In May 2016, the warrants were amended such that the warrants became immediately exercisable into shares of the Company’s common stock. Concurrent with such amendment, the holders of the outstanding warrants elected to net exercise the warrants, and the Company issued an aggregate of 127,143 shares of common stock. No warrants were outstanding at September 30, 2016. Warrants outstanding at December 31, 2015 are summarized as follows: December 31, 2015 Number of warrants outstanding Issuance date Expiration dates Exercise price(s) Common share equivalent if exercised and converted Shares: Series G preferred redeemable convertible stock 7,883,377 April 2010 through September 2012 Various through September 2017 $ 1.04 788,338 As the Series G Preferred Stock were redeemable at the option of the Series G preferred stockholders, the Company determined the warrants for Series G Preferred Stock should be classified as liabilities and adjusted to fair value at each reporting date. The fair value of the warrants was estimated using a combination of an option-pricing model and current value model under the probability-weighted return method, using significant unobservable inputs (Level 3 inputs) including: management’s cash flow projections; probability and timing of potential liquidity scenarios; weighted-average cost of capital that included the addition of a company specific risk premium to account for uncertainty associated with the Company achieving future cash flows; selection of appropriate market comparable transactions and multiples; expected volatility; and risk-free rate. The Company used a combination of discounted cash flow, guideline public company and market transaction valuation techniques in estimating the fair value of the warrant liability at each reporting date. The discount rates used were 20% and 21% at May 24, 2016 and December 31, 2015, respectively. The fair value of the warrants was $249,215 and $709,504 as of May 24, 2016 and December 31, 2015, respectively. On April 2, 2015, the Company and certain holders of the warrants to purchase Series G Preferred Stock adopted an amendment to extend the exercise period for the holders of all outstanding Series G warrants by one year, which resulted in incremental expense of $343,446 during the year ended December 31, 2015.

Stock Options

Stock Options	9 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Options	Note 12. Stock Options The following table summarizes the outstanding stock option activity during the periods indicated: Number of shares Weighted average exercise price Balance at December 31, 2014 504,550 $ 2.60 Granted 512,402 2.00 Exercised (24,260 ) 3.18 Expired (236,000 ) 2.77 Balance at December 31, 2015 756,692 2.10 Granted 339,315 1.90 Exercised (46,500 ) 2.37 Expired (12,240 ) 2.20 Balance at September 30, 2016 1,037,267 $ 1.54 Vested and exercisable at September 30, 2016 623,112 $ 1.44 Vested and expected to vest at September 30, 2016 1,006,525 $ 2.00 The weighted average grant-date fair value of options granted was $0.86 during the nine months ended September 30, 2016 and $0.84 for the year ended December 31, 2015. For fully vested stock options the aggregate intrinsic value was $8,545,416 as of September 30, 2016. For stock options expected to vest the aggregate intrinsic value was $5,714,093 as of September 30, 2016. During the year ended December 31, 2014, the Company granted 260,924 shares of restricted common stock with a fair value of $2.20 per share to its Chief Executive Officer of which 68.75% were vested immediately and 6.25% of the shares vested on each of March 31, 2014, June 30, 2014, September 30, 2014, December 31, 2014 and March 31, 2015. During the year ended December 31, 2015, 50,000 shares of restricted stock were granted to other executives contingent upon the Company achieving an initial public offering of its equity securities by December 31, 2015. The performance measures were not met and the shares expired as of December 31, 2015. There was no expense recorded for these shares. During the nine months ended September 30, 2016, a total of 57,475 shares of restricted common stock with a fair value of $1.90 per share were issued to the Company’s Chief Financial Officer and Chief Operating Officer of which 100% of the shares vest six months following the completion of the IPO. At September 30, 2016 and December 31, 2015 there was $417,135 and $214,304, respectively, of total unrecognized compensation cost related to unvested stock options and restricted stock granted under the plans. These costs are expected to be recognized over the next three years and is based on the date the options were granted. The Company currently uses authorized and unissued shares to satisfy share award exercises.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Operating Leases The Company has entered into lease agreements for office space and research facilities in San Diego, California; Taipei, Taiwan; Shenzhen and Jiangsu, China; and Cambridgeshire, United Kingdom. Rent expense was $185,654 and $180,108, respectively, for the three months ended September 30, 2016 and 2015 and $554,804 and $497,030, respectively, for the nine months ended September 30, 2016 and 2015. The longest lease expires in June 2020. The Company moved into its new facility in San Diego, California during the year ended December 31, 2014. The new San Diego facility lease agreement included a tenant improvement allowance which provided for the landlord to pay for tenant improvements on behalf of the Company up to $515,000. Based on the terms of this landlord incentive and involvement of the Company in the construction process, the leasehold improvements purchased under the landlord incentive were determined to be property of the Company. The future minimum lease payments required under operating leases in effect at September 30, 2016 were as follows: Year ending: 2016 (remaining three months) $ 306,563 2017 645,976 2018 509,198 2019 517,977 2020 and beyond 265,940 $ 2,245,654

Concentration of Credit Risk

Concentration of Credit Risk	9 Months Ended
	Sep. 30, 2016
Risks And Uncertainties [Abstract]
Concentration of Credit Risk	Note 14. Concentration of Credit Risk (a) Concentration of Sales and Accounts Receivable The following represents customers that accounted for 10% or more of total revenue during the three months ended September 30, 2016 and 2015 and the nine months ended September 30, 2016 and 2015 and customers that accounted for 10% or more of total trade accounts receivable at September 30, 2016 and 2015. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Percentage of net revenue Customer A 30 % 27 % 31 % 22 % Customer B 20 14 18 15 Customer C 7 13 6 13 Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Percentage of gross trade accounts receivable Customer A 25 % 19 % 24 % 17 % Customer B 12 10 13 13 Customer C 3 11 4 8 (b) Revenue by Geography Net revenue by geographic area are as follows. Revenue is attributed by geographic location based on the bill-to location of the Company’s customers. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Percentage of net revenue China 69 % 60 % 72 % 62 % Other Asia 14 27 12 23 North America 12 7 11 8 Europe 5 6 5 7 Although the Company ships the majority of antennas to its customers in China (primarily ODM’s and distributors), the end-users of the Company’s products are much more geographically diverse. (c) Concentration of Purchases During the three and nine months ended September 30, 2016 and 2015, all of the Company’s products were manufactured by two vendors in China.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Interim financial results are not necessarily indicative of results anticipated for the full year. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the financial statements and accompanying notes included in the Company’s final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on August 12, 2016. The condensed balance sheet as of December 31, 2015 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP. The condensed statements of operations for the three months ended September 30, 2016 and September 30, 2015 and the nine months ended September 30, 2016 and September 30, 2015, and the balance sheet data as of September 30, 2016 have been prepared on the same basis as the audited financial statements. In the opinion of management, the accompanying unaudited condensed financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation of results of the Company’s operations and financial position for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2016 or for any future period. In July 2016, the Company effected a one-for-ten reverse stock split of its common stock. All issued and outstanding common stock and per share amounts contained in the financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented.
Inventory	Inventory The vast majority of the Company’s products are manufactured by third parties that retain ownership of the inventory until title is transferred to the customer at the shipping point. In certain instances, shipping terms are delivery at place and the Company is responsible for arranging transportation and delivery of goods ready for unloading at the name place. The Company bears all risk involved in bringing the goods to the named place and records the related inventory in transit to the customer as inventory on the accompanying balance sheet.
Segment Information	Segment Information The Company’s operations are located primarily in the United States, and most of its assets are located in San Diego, California. The Company operates in one segment related to the sale of antenna products. The Company’s chief operating decision-maker is its chief executive officer, who reviews operating results on an aggregate basis and manages the Company’s opertions as a single operating segment.
Initial Public Offering	Initial Public Offering On August 17, 2016, the Company completed its initial public offering (IPO) in which it issued and sold 1.5 million shares of common stock at a public offering price of $8.00 per share. The Company received net proceeds of approximately $9.3 million after deducting underwriting discounts and commissions of $1.0 million and estimated offering-related transaction costs of approximately $1.7 million. Upon the closing of the IPO, all shares of the Company’s then-outstanding preferred redeemable convertible stock and preferred convertible stock automatically converted into an aggregate of 3,080,733 shares of common stock and the Company issued 1,957,207 shares of common stock in satisfaction of accumulated dividends. Additionally, the Company reduced the number of preferred shares authorized to a total of 10,000,000 shares. On August 29, 2016 the underwriters exercised their over-allotment option to purchase an additional 200,100 shares of common stock at the public offering price of $8.00 per share, which resulted in net proceeds to the Company of approximately $1.5 million, after deducting underwriting discounts, commissions and estimated offering-related transaction costs of approximately $0.1 million.
Use of Estimates	Use of Estimates The preparation of 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. Significant items subject to such estimates and assumptions include valuation of the preferred redeemable convertible stock warrant liability and determining the assumptions used in measuring stock-based compensation expense.
Fair Value Measurements	Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short maturity of these instruments. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. The Company follows a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets. Because some of the inputs to the Company’s valuation model were either not observable or were not derived principally from or corroborated by observable market data by correlation or other means, the warrant liability was classified as Level 3 in the fair value hierarchy. The following table provides a summary of the recognized liabilities carried at fair value on a recurring basis: Balance as of December 31, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant liability (note 10) $ — — $ 709,504 The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1, Level 2, or Level 3 for the nine months ended September 30, 2016 and the year ended December 31, 2015. The following table provides a rollforward of the Company’s Level 3 fair value measurements during the nine months ended September 30, 2016 and 2015: Nine Months Ended September 30, 2016 2015 Beginning balance $ 709,504 $ 809,974 Change in fair value of warrant liability (460,289 ) (336,971 ) Conversion of warrants (249,215 ) — Ending balance $ — $ 473,003 In May 2016, the warrants were amended such that the warrants became immediately exercisable into shares of the Company’s common stock. Concurrent with such amendment, the holders of the outstanding warrants elected to net exercise the warrants, and the Company issued an aggregate of 127,143 shares of common stock. A final valuation of the warrants was completed and the remaining balance was reclassified to additional paid in capital.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (FASB), issued Accounting Standards Update, or ASU, No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments which simplifies the way cash receipts and cash payments are presented on the statement of cash flows. For public entities, ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact the guidance will have on its financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company has adopted this standard. The impact on the financial statements was immaterial. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-2), which requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use assets. The new standard is effective January 1, 2019. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on the Company’s ongoing financial reporting. In November 2015, the FASB issued Accounting Standards Update No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. This guidance simplifies the presentation of deferred income taxes by requiring that deferred tax liabilities and assets all be classified as noncurrent in a classified statement of financial position. The guidance is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2016, with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on its financial statements. In September 2015, the FASB issued Accounting Standards Update No. 2015-16, Business Combinations (Topic 815): Simplifying the Accounting Measurement-Period Adjustments. This guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2015. The Company does not expect the adoption of this guidance to have a material impact on its financial statements. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. The update requires companies to measure certain inventory at the lower of cost and net realizable value. This guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those years on a prospective basis. Early application is permitted. The Company does not expect the adoption of this guidance to have a material impact on its financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with customers (ASU 2014-09), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for us on January 1, 2019. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of that standard on the Company’s ongoing financial reporting.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Recognized Liabilities Carried at Fair Value on Recurring Basis	The following table provides a summary of the recognized liabilities carried at fair value on a recurring basis: Balance as of December 31, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant liability (note 10) $ — — $ 709,504
Rollforward of Level 3 Fair Value Measurements	The following table provides a rollforward of the Company’s Level 3 fair value measurements during the nine months ended September 30, 2016 and 2015: Nine Months Ended September 30, 2016 2015 Beginning balance $ 709,504 $ 809,974 Change in fair value of warrant liability (460,289 ) (336,971 ) Conversion of warrants (249,215 ) — Ending balance $ — $ 473,003

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Summary of Computation of Net Income or Loss Per Share	The following table presents the computation of net income or loss per share: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ 1,183,044 $ 669 $ 2,633,405 $ (228,183 ) Accretion of dividends on preferred stock (322,170 ) (617,493 ) (1,537,021 ) (1,827,461 ) Net income (loss) attributable to common stockholders - basic $ 860,874 $ (616,824 ) $ 1,096,384 $ (2,055,644 ) Accretion of dividends on preferred stock 186,868 — 125,205 — Adjustment for change in fair value of warrant liability — (78,833 ) (460,289 ) (336,971 ) Net income (loss) attributable to common stockholders - diluted $ 1,047,742 $ (695,657 ) $ 761,300 $ (2,392,615 ) Denominator: Weighted average common shares outstanding Basic 4,133,020 662,415 1,849,647 646,877 Diluted 6,689,332 662,415 3,103,784 646,877 Net income (loss) per share: Basic $ 0.21 $ (0.93 ) $ 0.59 $ (3.18 ) Diluted $ 0.16 $ (1.05 ) $ 0.25 $ (3.70 )
Summary of Potentially Dilutive Securities	Potentially dilutive securities not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Preferred redeemable convertible stock, including accumulated dividends 788,074 4,836,572 3,253,254 4,781,940 Employee stock options — 1,107,929 — 1,107,929 Warrants outstanding 51,003 — 51,003 — Series G preferred stock warrants outstanding — 788,338 — 788,338 Total 839,077 6,732,839 3,304,257 6,678,207

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Summary of Consideration Paid and Amounts of Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid and the amounts of estimated fair value of the assets acquired and liabilities assumed at the acquisition date. Consideration: Cash $ 4,000,000 Contingent consideration arrangement 1,000,000 Fair value of total consideration transferred $ 5,000,000 Recognized amounts of identifiable assets acquired and liabilities assumed: Accounts receivable $ 429,267 Intangible assets 3,497,000 Current liabilities (176,223 ) Total identifiable net assets acquired 3,750,044 Goodwill 1,249,956 Total $ 5,000,000

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of changes in goodwill	Changes to the Company’s goodwill balance during the year ended December 31, 2015 and the nine months ended September 30, 2016 are as follows: Balance at December 31, 2014 $ — Skycross acquisition 1,249,956 Balance at December 31, 2015 $ 1,249,956 Current period adjustments — Balance at September 30, 2016 $ 1,249,956

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Acquired Intangible Assets	The following is a summary of the Company’s acquired intangible assets: September 30, 2016 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Intangibles, Net Developed technologies 5 $ 280,000 $ 24,078 $ 255,922 Customer relationships 10 3,150,000 248,332 2,901,668 Non-compete agreement 3 67,000 17,607 49,393 Total intangible assets, net 10 $ 3,497,000 $ 290,017 $ 3,206,983 December 31, 2015 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Intangibles, Net Developed technologies 10 $ 280,000 $ 1,074 $ 278,926 Customer relationships 10 3,150,000 12,082 3,137,918 Non-compete agreement 3 67,000 857 66,143 Total intangible assets, net 10 $ 3,497,000 $ 14,013 $ 3,482,987
Schedule of Estimated Annual Amortization of Intangible Assets	The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a results of acquisitions, divestitures, asset impairments, among other factors. Amortization expense was $93,338 and $0 for the three months ended September 30, 2016 and 2015, respectively, and $276,004 and $0 for the nine months ended September 30, 2016 and 2015, respectively. Estimated Future Amortization 2016 (remaining three months) $ 97,346 2017 389,385 2018 388,529 2019 367,052 2020 366,333 Thereafter 1,598,338 Total $ 3,206,983

Long-term Notes Payable (incl28

Long-term Notes Payable (including current portion) and Line of Credit (Tables)	9 Months Ended
	Sep. 30, 2016
Loan Agreement With Silicon Valley Bank
Schedule of Principal Payment of Loan	The remaining principal payments on the $4.0 million loan subsequent to September 30, 2016 are as follows: Year ending: 2016 $ 333,333 2017 1,333,333 2018 1,333,334 $ 3,000,000
Capital Growth Term Loans
Schedule of Principal Payment of Loan	The remaining principal payments on the growth capital term loan subsequent to September 30, 2016 are as follows: Year ending: 2016 $ 74,747 2017 55,220 $ 129,967

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit) (Tables)	9 Months Ended
	Sep. 30, 2016
Class Of Stock Disclosures [Abstract]
Schedule of Common Stock Reserved for Future Issuance	The following common stock is reserved for future issuance at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Conversion of Series A, B, C, and D preferred convertible stock — 753,687 Conversion of Series E, F, and G preferred redeemable convertible stock — 2,327,170 Warrants issued and outstanding 51,003 788,338 Stock option awards issued and outstanding 1,037,267 756,692 Authorized for grants under the 2013 Equity Incentive Plan 481,999 321,313 Authorized for grants under the 2016 Equity Incentive Plan 400,000 — 1,970,269 4,947,200

Preferred Redeemable Converti30

Preferred Redeemable Convertible Stock (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Preferred Redeemable Convertible Stock	The following table provides a rollforward of the preferred redeemable convertible stock during the year ended December 31, 2015 and the nine months ended September 30, 2016: Preferred redeemable convertible stock Shares Amount Balance at December 31, 2014 23,055,356 $ 40,724,356 Exercise of warrants 216,346 225,000 Effect of accretion to redemption value — 2,157,550 Balance at December 31, 2015 23,271,702 43,106,906 Effect of accretion to redemption value — 1,356,707 Conversion of preferred redeemable convertible stock into common stock (23,271,702 ) (44,463,613 ) Balance at September 30, 2016 — $ —

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2016
Warrants And Rights Note Disclosure [Abstract]
Schedules of Warrants Outstanding	Warrants outstanding at December 31, 2015 are summarized as follows: December 31, 2015 Number of warrants outstanding Issuance date Expiration dates Exercise price(s) Common share equivalent if exercised and converted Shares: Series G preferred redeemable convertible stock 7,883,377 April 2010 through September 2012 Various through September 2017 $ 1.04 788,338

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Outstanding Stock Option Activity	The following table summarizes the outstanding stock option activity during the periods indicated: Number of shares Weighted average exercise price Balance at December 31, 2014 504,550 $ 2.60 Granted 512,402 2.00 Exercised (24,260 ) 3.18 Expired (236,000 ) 2.77 Balance at December 31, 2015 756,692 2.10 Granted 339,315 1.90 Exercised (46,500 ) 2.37 Expired (12,240 ) 2.20 Balance at September 30, 2016 1,037,267 $ 1.54 Vested and exercisable at September 30, 2016 623,112 $ 1.44 Vested and expected to vest at September 30, 2016 1,006,525 $ 2.00

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Schedule Future Minimum Lease Payments Under Operating Leases	The future minimum lease payments required under operating leases in effect at September 30, 2016 were as follows: Year ending: 2016 (remaining three months) $ 306,563 2017 645,976 2018 509,198 2019 517,977 2020 and beyond 265,940 $ 2,245,654

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	9 Months Ended
	Sep. 30, 2016
Risks And Uncertainties [Abstract]
Schedule of Concentration of Sales and Accounts Receivable	The following represents customers that accounted for 10% or more of total revenue during the three months ended September 30, 2016 and 2015 and the nine months ended September 30, 2016 and 2015 and customers that accounted for 10% or more of total trade accounts receivable at September 30, 2016 and 2015. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Percentage of net revenue Customer A 30 % 27 % 31 % 22 % Customer B 20 14 18 15 Customer C 7 13 6 13 Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Percentage of gross trade accounts receivable Customer A 25 % 19 % 24 % 17 % Customer B 12 10 13 13 Customer C 3 11 4 8
Schedule of Revenue by Geographic area	Net revenue by geographic area are as follows. Revenue is attributed by geographic location based on the bill-to location of the Company’s customers. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Percentage of net revenue China 69 % 60 % 72 % 62 % Other Asia 14 27 12 23 North America 12 7 11 8 Europe 5 6 5 7

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	Aug. 29, 2016USD ($)$ / sharesshares	Aug. 17, 2016USD ($)$ / sharesshares	Jul. 31, 2016	Sep. 30, 2016USD ($)Segmentshares	Dec. 31, 2015shares
Basis Of Presentation [Line Items]
Reverse stock split of common stock				In July 2016, the Company effected a one-for-ten reverse stock split of its common stock.
Reverse stock split ratio			0.1
Number of operating segments | Segment				1
Common stock, shares issued | shares				7,577,525	665,842
Net proceeds from initial public offering | $				$ 13,600,800
IPO
Basis Of Presentation [Line Items]
Common stock, shares issued | shares		1,500,000
Common stock, offering price per share | $ / shares		$ 8
Net proceeds from initial public offering | $		$ 9,300,000
Underwriting discounts and commissions | $		1,000,000
Offering - related transaction cost | $		$ 1,700,000
Conversion of warrants, shares | shares		3,080,733
Common stock dividends, shares | shares		1,957,207
Preferred convertible stock, shares authorized | shares		10,000,000
Over Allotment Option
Basis Of Presentation [Line Items]
Common stock, offering price per share | $ / shares	$ 8
Underwriting discounts and commissions | $	$ 100,000
Common stock, shares issued | shares	200,100
Net proceeds on issuance of common stock after deducting underwriting discounts and commissions and estimated offering expenses/offering - related transaction cost | $	$ 1,500,000

Summary of Significant Accoun36

Summary of Significant Accounting Policies - Summary of Recognized Liabilities Carried at Fair Value on Recurring Basis (Details)	Dec. 31, 2015USD ($)
Recurring | Warrant Liability | Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Warrant liability (note 10)	$ 709,504

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	May 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfers into level 1 to level 2, liabilities	$ 0	$ 0
Transfers into level 2 to level 1, liabilities	0	0
Transfers into level 3, liabilities	0	0
Transfers out of level 3, liabilities	$ 0	$ 0
Common Stock
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Common stock issued for warrants exercised			127,143

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Rollforward of Level 3 Fair Value Measurements (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accounting Policies [Abstract]
Beginning balance		$ 709,504	$ 809,974
Change in fair value of warrant liability	$ (78,833)	(460,289)	(336,971)
Conversion of warrants		$ (249,215)
Ending balance	$ 473,003		$ 473,003

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Additional Information (Details)	1 Months Ended
	Jul. 31, 2016
Earnings Per Share [Abstract]
Reverse stock split ratio	0.1

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Computation of Net Income or Loss Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income (loss)	$ 1,183,044	$ 669	$ 2,633,405	$ (228,183)
Accretion of dividends on preferred convertible stock	(322,170)	(617,493)	(1,537,021)	(1,827,461)
Net income (loss) attributable to common stockholders	860,874	(616,824)	1,096,384	(2,055,644)
Accretion of dividends on preferred stock	186,868		125,205
Adjustment for change in fair value of warrant liability		(78,833)	(460,289)	(336,971)
Net income (loss) attributable to common stockholders - diluted	$ 1,047,742	$ (695,657)	$ 761,300	$ (2,392,615)
Weighted average shares used in calculating income (loss) per share
Basic	4,133,020	662,415	1,849,647	646,877
Diluted	6,689,332	662,415	3,103,784	646,877
Net income (loss) per share:
Basic	$ 0.21	$ (0.93)	$ 0.59	$ (3.18)
Diluted	$ 0.16	$ (1.05)	$ 0.25	$ (3.70)

Net Income (Loss) Per Share -41

Net Income (Loss) Per Share - Summary of Potentially Dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	839,077	6,732,839	3,304,257	6,678,207
Series F Preferred Redeemable Convertible Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	788,074	4,836,572	3,253,254	4,781,940
Employee Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share		1,107,929		1,107,929
Warrants outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	51,003		51,003
Series G Preferred Stock | Warrants outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share		788,338		788,338

Acquisition - Additional Inform

Acquisition - Additional Information (Details) - USD ($)	Dec. 17, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 1,249,956		$ 1,249,956		$ 1,249,956
Business acquisition, revenue		12,439,279	$ 6,668,732	30,807,902	$ 18,459,590
Business acquisition, cost of goods sold		6,862,992	$ 3,893,657	$ 17,007,228	$ 10,657,495
Skycross, Inc.
Business Acquisition [Line Items]
Date of asset purchase agreement				Dec. 17, 2015
Goodwill	$ 1,249,956
Goodwill, expected tax deductible amount	1,249,956
Business acquisition up front payment	4,000,000
Business combination, contingent consideration arrangements, description				The $1.0 million of deferred consideration is contingent upon the later of (i) the expiration of the Transition Services Agreement between the Company and Skycross, Inc. which defines transition services to be provided by Skycross to the Company and (ii) the date on which the Company has received copies of third party approvals with respect to each customer and program that was purchased.
Contingent consideration arrangement	1,000,000
Amount to be paid under contingent consideration arrangements, value, low	0
Amount to be paid under contingent consideration arrangements, value, high	1,000,000
Accounts receivable	$ 429,267
Business acquisition, revenue		1,400,000		$ 3,700,000
Business acquisition, cost of goods sold		$ 500,000		$ 1,300,000

Acquisition - Summary of Consid

Acquisition - Summary of Consideration Paid and Amounts of Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($)	Dec. 17, 2015	Sep. 30, 2016	Dec. 31, 2015
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill		$ 1,249,956	$ 1,249,956
Skycross, Inc.
Consideration:
Cash	$ 4,000,000
Contingent consideration arrangement	1,000,000
Fair value of total consideration transferred	5,000,000
Recognized amounts of identifiable assets acquired and liabilities assumed:
Accounts receivable	429,267
Intangible assets	3,497,000
Current liabilities	(176,223)
Total identifiable net assets acquired	3,750,044
Goodwill	1,249,956
Total	$ 5,000,000

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes In Goodwill (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Goodwill [Line Items]
Ending balance	$ 1,249,956
Skycross, Inc.
Goodwill [Line Items]
Acquisition	$ 1,249,956

Intangible Assets - Summary of

Intangible Assets - Summary of Acquired Intangible Assets (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period		10 years	10 years
Gross Carrying Amount	$ 3,497,000	$ 3,497,000	$ 3,497,000
Accumulated Amortization	290,017	290,017	14,013
Intangibles, Net	$ 3,206,983	$ 3,206,983	$ 3,482,987
Developed technologies
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period	5 years	5 years	10 years
Gross Carrying Amount	$ 280,000	$ 280,000	$ 280,000
Accumulated Amortization	24,078	24,078	1,074
Intangibles, Net	255,922	$ 255,922	$ 278,926
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period		10 years	10 years
Gross Carrying Amount	3,150,000	$ 3,150,000	$ 3,150,000
Accumulated Amortization	248,332	248,332	12,082
Intangibles, Net	2,901,668	$ 2,901,668	$ 3,137,918
Non-compete agreement
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Amortization Period		3 years	3 years
Gross Carrying Amount	67,000	$ 67,000	$ 67,000
Accumulated Amortization	17,607	17,607	857
Intangibles, Net	$ 49,393	$ 49,393	$ 66,143

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset			10 years		10 years
Amortization	$ 93,338	$ 0	$ 276,004	$ 0
Developed technologies
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset	5 years		5 years		10 years

Intangible Assets - Schedule of

Intangible Assets - Schedule of Estimated Annual Amortization of Intangible Assets (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
2016 (remaining three months)	$ 97,346
2,017	389,385
2,018	388,529
2,019	367,052
2,020	366,333
Thereafter	1,598,338
Intangibles, Net	$ 3,206,983	$ 3,482,987

Long-term Notes Payable (incl48

Long-term Notes Payable (including current portion) and Line of Credit - Additional Information (Details)	1 Months Ended		3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2013USD ($)Installment	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2012USD ($)
Loan Agreement With Silicon Valley Bank
Line Of Credit Facility [Line Items]
Liquidity ratio	125.00%
Loan agreement amount	$ 4,000,000				$ 4,000,000
Term of payments	36 months
Date of maturity	Dec. 1, 2018
Minimum EBITDA			$ 250,000
Interest rate percentage	5.00%				5.00%
Long-term debt			3,000,000	$ 3,000,000
Equipment Term Loan [Member]
Line Of Credit Facility [Line Items]
Long-term debt	$ 4,000,000		3,000,000	3,000,000	$ 4,000,000
Capital Growth Term Loans
Line Of Credit Facility [Line Items]
Long-term debt			129,967	$ 129,967
Silicon Valley Bank | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility allowable amount						$ 3,000,000
Facility interest rate					3.50%
Liquidity ratio				125.00%
Line of credit facility maturity date				2018-04
Line of credit	0		0	$ 0	$ 0
Silicon Valley Bank | Revolving Credit Facility | Capital Growth Term Loans
Line Of Credit Facility [Line Items]
Line of credit facility allowable amount		$ 750,000
Liquidity ratio		100.00%
Line of credit	$ 346,895		$ 129,967	$ 129,967	$ 346,895
Line of credit facility, payment terms				The growth capital term loan requires interest only payments through June 30, 2014 at which point it is to be repaid in 32 equal monthly installments of interest and principal.
Number of monthly installments for principal and interest payment | Installment		32
Line of credit facility maturity date				Feb. 1, 2017
Line of credit facility interest rate		6.50%
Silicon Valley Bank | U.S. Prime Rate | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Basis spread on variable interest rate					1.25%

Long-term Notes Payable (incl49

Long-term Notes Payable (including current portion) and Line of Credit - Schedule of Remaining Principal Payment on Growth Capital Term Loan (Details) - Capital Growth Term Loans	Sep. 30, 2016USD ($)
Line Of Credit Facility [Line Items]
2,016	$ 74,747
2,017	55,220
Long-term debt	$ 129,967

Long-term Notes Payable (incl50

Long-term Notes Payable (including current portion) and Line of Credit - Schedule of Remaining Principal Payment (Details) - Loan Agreement With Silicon Valley Bank	Sep. 30, 2016USD ($)
Line Of Credit Facility [Line Items]
2,016	$ 333,333
2,017	1,333,333
2,018	1,333,334
Long-term debt	$ 3,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Income Taxes [Line Items]
Effective income tax rate	0.60%	0.30%
U.S. federal statutory tax rate	34.00%	34.00%
Gross unrecognized tax benefits	$ 1.5	$ 1.5	$ 1.4
Federal
Income Taxes [Line Items]
Net operating loss carryforwards	17.7	17.7
State
Income Taxes [Line Items]
Net operating loss carryforwards	$ 7.1	$ 7.1

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 17, 2016	Nov. 30, 2003	Sep. 30, 2003	Mar. 31, 2001	Jun. 30, 2000	Sep. 30, 2016	Dec. 31, 2003
IPO
Class Of Stock [Line Items]
Conversion of stock, shares issued	3,080,733
Series A Preferred Stock
Class Of Stock [Line Items]
Preferred convertible stock, shares issued					313,500
Preferred convertible stock sold, per share					$ 3.84
Proceeds from sale of preferred convertible stock, gross					$ 1.2
Preferred stock annual dividend rate per share						$ 0.0488
Series B Preferred Stock
Class Of Stock [Line Items]
Preferred convertible stock, shares issued				290,993
Preferred convertible stock sold, per share				$ 4.39
Proceeds from sale of preferred convertible stock, gross				$ 1.3
Additional number of shares issued for services and to satisfy debt obligation							866,613
Proceed from issuance of additional stock							$ 1.2
Preferred stock annual dividend rate per share						0
Series C Preferred Stock
Class Of Stock [Line Items]
Preferred convertible stock, shares issued			682,000
Preferred convertible stock sold, per share			$ 1
Proceeds from sale of preferred convertible stock, gross			$ 0.7
Preferred stock annual dividend rate per share						0
Series D Preferred Stock
Class Of Stock [Line Items]
Preferred convertible stock, shares issued		4,091,068
Preferred convertible stock sold, per share		$ 0.542
Proceeds from sale of preferred convertible stock, gross		$ 2.2
Preferred stock annual dividend rate per share						$ 0.0488
Preferred Convertible Stock | IPO
Class Of Stock [Line Items]
Conversion of stock, shares converted	6,244,174
Conversion of stock, shares issued	753,611
Preferred stock dividends converted into common stock	505,576

Stockholders' Equity (Deficit53

Stockholders' Equity (Deficit) - Schedule of Common Stock Reserved for Future Issuance (Details) - shares	Sep. 30, 2016	Dec. 31, 2015
Class Of Stock [Line Items]
Common stock, reserved for future issuance	1,970,269	4,947,200
Conversion of Series A, B, C, And D Preferred Convertible Stock
Class Of Stock [Line Items]
Common stock, reserved for future issuance		753,687
Conversion of Series E, F, And G Preferred Redeemable Convertible Stock
Class Of Stock [Line Items]
Common stock, reserved for future issuance		2,327,170
Warrants Issued and Outstanding
Class Of Stock [Line Items]
Common stock, reserved for future issuance	51,003	788,338
Stock Option Awards Issued and Outstanding
Class Of Stock [Line Items]
Common stock, reserved for future issuance	1,037,267	756,692
Authorized for Grants under the 2013 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	481,999	321,313
Authorized for Grants under the 2016 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	400,000

Preferred Redeemable Converti54

Preferred Redeemable Convertible Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 17, 2016	Jun. 30, 2012	Jun. 30, 2009	Mar. 31, 2008	Feb. 28, 2007	Feb. 28, 2006	Jun. 30, 2005	Sep. 30, 2016
Class Of Stock [Line Items]
Outstanding convertible promissory notes and accrued interest		$ 7.1
IPO
Class Of Stock [Line Items]
Conversion of stock, shares issued	3,080,733
Series E Preferred Redeemable Convertible Stock
Class Of Stock [Line Items]
Preferred convertible stock, shares issued						7,984,727	7,984,727
Preferred convertible stock sold, per share						$ 1.11	$ 1.11
Gross proceeds from sale of convertible preferred stock						$ 8.8	$ 8.8
Series F Preferred Redeemable Convertible Stock
Class Of Stock [Line Items]
Preferred convertible stock, shares issued					4,734,374
Preferred convertible stock sold, per share					$ 1.30
Gross proceeds from sale of convertible preferred stock					$ 6.2
Series G Preferred Stock
Class Of Stock [Line Items]
Preferred convertible stock sold, per share			$ 1.30	$ 1.30
Gross proceeds from sale of convertible preferred stock			$ 4.3	$ 4.3
Preferred stock, shares issued upon conversion			463,856	6,216,607
Preferred stock, conversion price per share			$ 1.30	$ 1.04
Senior Preferred Stock
Class Of Stock [Line Items]
Dividend rate, percentage								8.00%
Preferred Redeemable Convertible Stock
Class Of Stock [Line Items]
Conversion of stock, shares issued								(23,271,702)
Preferred Redeemable Convertible Stock | IPO
Class Of Stock [Line Items]
Conversion of stock, shares converted	23,271,702
Conversion of stock, shares issued	2,327,122
Preferred stock dividends converted into common stock	1,451,631

Preferred Redeemable Converti55

Preferred Redeemable Convertible Stock - Schedule of Preferred Redeemable Convertible Stock (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Class Of Stock [Line Items]
Conversion of warrants	$ 249,215
Preferred Redeemable Convertible Stock
Class Of Stock [Line Items]
Beginning balance, Shares	23,271,702	23,055,356
Exercise of warrants, Shares		216,346
Conversion of warrants, shares	(23,271,702)
Ending balance, Shares		23,271,702
Beginning balance, Amount	$ 43,106,906	$ 40,724,356
Exercise of warrants, Amount		225,000
Effect of accretion to redemption value	1,356,707	2,157,550
Conversion of warrants	$ (44,463,613)
Ending balance, Amount		$ 43,106,906

Warrants - Additional Informati

Warrants - Additional Information (Details) - USD ($)	May 24, 2016	Apr. 02, 2015	May 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Class Of Warrant Or Right [Line Items]
Common stock issued for warrants exercised			127,143
Number of warrants outstanding					0
Fair value inputs, discount rate	20.00%			21.00%
Fair value of Warrants	$ 249,215			$ 709,504
Series G Preferred Stock | Series G Warrant
Class Of Warrant Or Right [Line Items]
Extended exercise period		1 year
Incremental expense				$ 343,446

Warrants - Schedules of Warrant

Warrants - Schedules of Warrants Outstanding (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Class Of Warrant Or Right [Line Items]
Number of warrants outstanding	0
Series G Preferred Redeemable Convertible Stock
Class Of Warrant Or Right [Line Items]
Number of warrants outstanding		7,883,377
Issuance date	April 2010 through September 2012
Expiration dates	Various through September 2017
Exercise price(s)		$ 1.04
Common share equivalent if exercised and converted		788,338

Stock Options - Summary of Outs

Stock Options - Summary of Outstanding Stock Option Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of shares, Beginning balance	756,692	504,550
Number of shares, Granted	339,315	512,402
Number of shares, Exercised	(46,500)	(24,260)
Number of shares, Expired	(12,240)	(236,000)
Number of shares, Ending balance	1,037,267	756,692
Number of shares, Vested and exercisable	623,112
Number of shares, Vested and expected to vest	1,006,525
Weighted average exercise price, Beginning balance	$ 2.10	$ 2.60
Weighted average exercise price, Granted	1.90	2
Weighted average exercise price, Exercised	2.37	3.18
Weighted average exercise price, Expired	2.20	2.77
Weighted average exercise price, Ending balance	1.54	$ 2.10
Weighted average exercise price, Vested and exercisable	1.44
Weighted average exercise price, Vested and expected to vest	$ 2

Stock Options - Additional Info

Stock Options - Additional Information (Details) - USD ($)	2 Months Ended	3 Months Ended					9 Months Ended		12 Months Ended
	Feb. 28, 2014	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant-date fair value of options granted							$ 0.86		$ 0.84
Stock options vested aggregate intrinsic value							$ 8,545,416
Stock options expected to vest aggregate intrinsic value							5,714,093
Stock-based compensation							224,039	$ 310,719
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost related to unvested stock options and restricted stock granted under the plans							$ 417,135		$ 214,304
Unrecognized compensation cost related to unvested stock options and restricted stock granted under the plans, period for recognition							3 years
Restricted Stock | Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted common stock granted									50,000	260,924
Fair value of common stock granted, per share										$ 2.20
Vested percentage of common stock	68.75%	6.25%	6.25%	6.25%	6.25%	6.25%
Stock-based compensation									$ 0
Restricted Stock | Chief Financial Officer And Chief Operating Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted common stock granted							57,475
Fair value of common stock granted, per share							$ 1.90
Vested percentage of common stock							100.00%
Vested period of restricted common stock							6 months

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Office Space and Research Facilities Lease - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Commitment And Contingencies [Line Items]
Operating leases, rent expense	$ 185,654	$ 180,108	$ 554,804	$ 497,030
Payments for tenant improvements allowance			$ 515,000
Lease expiration date			Jun. 30, 2020

Commitments and Contingencies61

Commitments and Contingencies - Schedule Future Minimum Lease Payments Under Operating Leases (Detail)	Sep. 30, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
2016 (remaining three months)	$ 306,563
2,017	645,976
2,018	509,198
2,019	517,977
2020 and beyond	265,940
Total future minimum lease payment	$ 2,245,654

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Details) - Vendor	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
China
Concentration Risk [Line Items]
Number of vendors	2	2	2	2
Customer Concentration Risk | Net Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
Customer Concentration Risk | Net Revenue | China
Concentration Risk [Line Items]
Concentration risk percentage	69.00%	60.00%	72.00%	62.00%
Customer Concentration Risk | Trade Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			10.00%	10.00%

Concentration of Credit Risk 63

Concentration of Credit Risk - Schedule of Concentration of Sales and Accounts Receivable (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
Net Revenue | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	30.00%	27.00%	31.00%	22.00%
Net Revenue | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	14.00%	18.00%	15.00%
Net Revenue | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	7.00%	13.00%	6.00%	13.00%
Trade Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			10.00%	10.00%
Trade Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	25.00%	19.00%	24.00%	17.00%
Trade Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	10.00%	13.00%	13.00%
Trade Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	3.00%	11.00%	4.00%	8.00%

Concentration of Credit Risk 64

Concentration of Credit Risk - Schedule of Revenue by Geography (Details) - Customer Concentration Risk - Net Revenue	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
China
Concentration Risk [Line Items]
Concentration risk percentage	69.00%	60.00%	72.00%	62.00%
Other Asia
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	27.00%	12.00%	23.00%
North America
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	7.00%	11.00%	8.00%
Europe
Concentration Risk [Line Items]
Concentration risk percentage	5.00%	6.00%	5.00%	7.00%