Venus Concept (VERO) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	HAIR
Entity Registrant Name	Restoration Robotics, Inc.
Entity Central Index Key	1,409,269
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		29,133,289

Condensed Consolidated Balance

Condensed Consolidated Balance sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 16,530	$ 23,545
Accounts receivable, net of allowance of $429 and $229 as of March 31, 2018 and December 31, 2017, respectively	4,478	3,864
Inventory	2,222	2,761
Prepaid expenses and other current assets	1,233	1,562
Total current assets	24,463	31,732
Property and equipment, net	1,217	1,138
Restricted cash	100	100
Other assets	100
TOTAL ASSETS	25,880	32,970
CURRENT LIABILITIES:
Accounts payable	2,296	2,044
Accrued compensation	1,648	1,630
Other accrued liabilities	2,199	1,125
Deferred revenue	1,884	1,517
Current portion of long-term debt, net of discount of $199 and $270 as of March 31, 2018 and December 31, 2017	7,801	7,730
Total current liabilities	15,828	14,046
Other long-term liabilities	670	459
Long-term debt, net of discount of $6 and $29 as of March 31, 2018 and December 31, 2017	3,294	5,271
TOTAL LIABILITIES	19,792	19,776
Commitments and Contingencies (Note 6)
STOCKHOLDERS’ EQUITY:
Common stock, $0.0001 par value; 350,490,000 shares authorized as of March 31, 2018 and December 31, 2017; 29,046,156 and 28,940,282 shares issued and outstanding as of March 31, 2018 and December 31, 2017	3	3
Additional paid-in capital	178,078	177,757
Accumulated other comprehensive loss	(75)	(79)
Accumulated deficit	(171,918)	(164,487)
TOTAL STOCKHOLDERS’ EQUITY	6,088	13,194
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 25,880	$ 32,970

Condensed Consolidated Balance3

Condensed Consolidated Balance sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$ 429	$ 229
Current portion of long-term debt, discount	199	270
Long-term debt, discount	$ 6	$ 29
Convertible preferred stock at liquidation preference par value	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized	236,154,444	236,154,444
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	350,490,000	350,490,000
Common stock, shares issued	29,046,156	28,940,282
Common stock, shares outstanding	29,046,156	28,940,282

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 5,005,000	$ 5,475,000
Cost of revenue	3,185,000	3,091,000
Gross profit	1,820,000	2,384,000
Operating expenses:
Sales and marketing	4,384,000	3,966,000
Research and development	2,125,000	1,916,000
General and administrative	2,351,000	926,000
Total operating expenses	8,860,000	6,808,000
Loss from operations	(7,040,000)	(4,424,000)
Other expense, net:
Interest expense	(358,000)	(586,000)
Other expense, net	(20,000)	(149,000)
Total other expense, net	(378,000)	(735,000)
Net loss before provision for income taxes	(7,418,000)	(5,159,000)
Provision for income taxes	13,000	16,000
Net loss attributable to common stockholders	$ (7,431,000)	$ (5,175,000)
Net loss per share attributable to common stockholders, basic and diluted	$ (0.26)	$ (0.32)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	28,962,269	16,183,178

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (7,431)	$ (5,175)
Other comprehensive income (loss):
Cumulative translation adjustment	4	(59)
Comprehensive loss	$ (7,427)	$ (5,234)

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Convertible Preferred Stock and Stockholders' Deficit (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance, value at Dec. 31, 2017	$ 13,194	$ 3	$ 177,757	$ (79)	$ (164,487)
Beginning balance, shares at Dec. 31, 2017		28,940,282
Issuance of common stock pursuant to stock option exercises of vested options	$ 196		196
Issuance of common stock pursuant to stock option exercises of vested options, shares	105,874	105,874
Stock-based compensation	$ 125		125
Other comprehensive gain	4			4
Net loss	(7,431)				(7,431)
Ending balance, value at Mar. 31, 2018	$ 6,088	$ 3	$ 178,078	$ (75)	$ (171,918)
Ending balance, shares at Mar. 31, 2018		29,046,156

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (7,431)	$ (5,175)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	132	142
Amortization of debt issuance costs	94	164
Stock-based compensation	125	106
Changes in fair value of preferred stock warrant liabilities		193
Provision for bad debt	263
Provision for excess and obsolete inventory	93
Changes in operating assets and liabilities:
Accounts receivable	(876)	(41)
Inventory	446	752
Prepaid expenses and other assets	230	(147)
Accounts payable	300	346
Accrued and other liabilities	1,062	385
Deferred revenue	607	18
Net cash used in operating activities	(4,955)	(3,257)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(260)	(98)
Net cash used in investing activities	(260)	(98)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercised stock options	196	8
Principal payments on long-term debt	(2,000)	(2,000)
Net cash used in financing activities	(1,804)	(1,992)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	4	(59)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(7,015)	(5,406)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period	23,645	11,906
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period	16,630	6,500
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for income taxes		4
Interest paid during the period	275	$ 434
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Purchase of property and equipment included in accounts payable	$ 10

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations Restoration Robotics, Inc. is a medical technology company incorporated in the state of Delaware on November 22, 2002 and headquartered in San Jose, California. The Company develops an image-guided robotic system that enables follicular unit extraction (FUE) for use in the field of hair transplantation and markets the ARTAS® Robotic System in the United States and other countries. In these notes to the unaudited condensed consolidated financial statements, the “Company,” “Restoration Robotics,” “we,” “us,” and “our” refers to Restoration Robotics, Inc. and its subsidiaries on a consolidated basis. Initial Public Offering On October 11, 2017, the Company’s Registration Statement on Form S-1 (File No. 333-220303) relating to the initial public offering (IPO) of its common stock was declared effective by the Securities and Exchange Commission (SEC). Pursuant to such Registration Statement, the Company completed its IPO of 3,897,910 shares of its common stock (inclusive of 322,910 shares of common stock from the subsequent exercise of the over-allotment option granted to the underwriters) at a price of $7.00 per share for aggregate cash proceeds of approximately $22,114, after deducting underwriting discounts and commissions, and offering costs of $5,171. Immediately prior to the closing of the IPO, all outstanding shares of convertible preferred stock converted into 22,671,601 shares of common stock and all the outstanding convertible preferred stock warrants converted into common stock warrants resulting in the reclassification of our preferred stock warrant liabilities to additional paid-in capital. In addition, the principal and accrued interest on the outstanding Convertible Notes converted into 718,184 shares of common stock. The IPO closed on October 16, 2017. Reverse Stock Split On September 15, 2017, the Company effected a 1-for-10 reverse stock split of its common stock. Upon the effectiveness of the reverse stock split, (i) every 10 shares of outstanding common stock were combined into one share of common stock, (ii) the number of shares of common stock for which each outstanding option to purchase common stock is exercisable was proportionately decreased on a 1-for-10 basis, (iii) the exercise price of each outstanding option to purchase common stock was proportionally increased on a l-for-10 basis, and (iv) the conversion ratio for each share of outstanding preferred stock which is convertible into our common stock was proportionately reduced on a 1-for-10 basis. All of the outstanding common stock share numbers (including shares of common stock into which our outstanding convertible preferred stock shares are convertible), share prices, exercise prices and per share amounts have been adjusted in these consolidated statements, on a retroactive basis, to reflect this l-for-10 reverse stock split for all periods presented. The par value per share and the authorized number of shares of common stock and convertible preferred stock were not adjusted because of the reverse stock split.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Liquidity These condensed consolidated financial statements are prepared on a going concern basis that contemplates the realization of assets and extinguishment of liabilities in the normal course of business. The Company has incurred net operating losses and negative cash flows from operations since inception. As of March 31, 2018, and December 31, 2017, the Company has an accumulated deficit of $171,918 and $164,487 and, as of such dates, did not have sufficient capital to fund its planned operations. Because of the Company’s recurring losses from operations and negative cash flows, the Company’s independent registered public accounting firm included an explanatory paragraph in its report on the Company’s consolidated financial statements as of, and for the year ended, December 31, 2017 that such factors raise substantial doubt about the Company’s ability to continue as a going concern. To continue its operations, the Company must achieve profitable operations and/or obtain additional financing. Until the Company generates revenue at a level to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows. The Company may never become profitable and even if it does attain profitable operations, it may not be able to sustain profitability or positive cash flows on a recurring basis. The Company will need to raise further capital in the future to service its debt or fund its operations until the time it can sustain positive cash flows. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable to the Company. If the Company is unable to raise sufficient additional capital, it may be compelled to reduce the scope of its operations and planned capital expenditures or sell certain assets, including intellectual property assets. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business, and, as such, the condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. Basis of Presentation The condensed consolidated balance sheet as of March 31, 2018, the condensed consolidated statements of operations and condensed consolidated statements of comprehensive loss for the three months ended March 31, 2018 and 2017 and the condensed consolidated statements of cash flows for the three months ended March 31, 2018 and 2017 and the condensed consolidated statement of stockholders’ deficit for the three months ended March 31, 2018 are unaudited. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted counting principles in the United States (U.S. GAAP) and in the opinion of management, reflect all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s condensed consolidated financial statements included in this report. The condensed consolidated financial data disclosed in these notes to the condensed consolidated financial statements related to the three-month period are also unaudited. The condensed consolidated results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018, or for any other future annual or interim period. The consolidated balance sheet as of December 31, 2017 included herein was derived from the audited consolidated financial statements as of that date. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report filed on Form 10-K for the year ended December 31, 2017, with the SEC on March 5, 2018. Principles of Consolidation The accompanying condensed c n s l i a e f i a c i a s t m n i c l u t u Restoration Robotics, Inc. A l i e rc m a n cc u n t r a s c i o a v b e l i m i a i o s l i a t i n Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to revenue recognition, the fair value of common stock, and the recoverability of the Company’s net deferred tax assets and related valuation allowance. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates. Reclassification Certain amounts in the prior year's condensed consolidated balance sheet have been reclassified to conform to the current period's presentation. These reclassifications had no impact on the previously reported consolidated financial statements for the year ended December 31, 2017. Concentration of Customers For the three months ended March 31, 2018, no customers accounted for more than 10% of the Company’s revenue. For the three months ended March 31, 2017, two customers accounted for 13% and 16% of the Company’s revenue. As of March 31, 2018, no customers accounted for more than 10% of the Company’s accounts receivable. As of December 31, 2017, two customers accounted for 10% and 11% of the Company’s accounts receivable. JOBS Act Accounting Election The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued after the enactment of the JOBS Act until those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014‑09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016‑02, Leases (Topic 842)

Net Loss per Share

Net Loss per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Loss per Share	3. NET LOSS PER SHARE Net Loss Per Share Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, convertible preferred stock, preferred stock warrants and stock options are common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive: As of March 31, 2018 2017 Options to purchase common stock 1,950,853 1,814,546 Convertible preferred stock — 21,142,375 Warrants for preferred stock — 385,141 Warrants for common stock 306,456 — Total potential dilutive shares 2,257,309 23,342,062

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. FAIR Cash and cash The Company’s lease obligation, term loan and Convertible Notes have fair values that approximate their carrying value. U.S. condensed consolidated condensed consolidated Observable Level - Quoted prices are available in active markets for identical assets or liabilities as of the report date. A quoted price for an identical asset or liability in an active market provides the most reliable fair value measurement because it is directly observable to the market. Level - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the report date. The nature of these securities includes investments for which quoted prices are available but traded less frequently and investments that are fair valued using other securities, the parameters of which can be directly observed. Level - Securities that have little to no pricing observability as of the report date. These securities are measured using management’s best estimate of fair value, where the inputs into the determination of fair value are not observable and require significant management judgment or estimation. A financial The following Fair Value Measurements as of March 31, 2018 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Cash Equivalents: Money market account $ 14,339 $ — $ — $ 14,339 Restricted cash: Money market account 100 — — 100 Total assets $ 14,439 $ — $ — $ 14,439 Fair Value Measurements as of December 31, 2017 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Cash Equivalents: (1) Money market account $ 18,728 $ — $ — $ 18,728 Restricted cash: Money market account 100 — — 100 Total assets $ 18,828 $ — $ — $ 18,828 (1) The Company incorrectly overstated its cash equivalents by $4,817 in its annual report on Form 10-K for the year ended December 31, 2017. Cash equivalents were $18,728, while cash was $4,817. The error in disclosure had no impact on previously reported cash and cash equivalents in the consolidated balance sheet as of December 31, 2017 or consolidated statement of operations for the year ended December 31, 2017.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2018
Balance Sheet Components [Abstract]
Balance Sheet Components	5. BALANCE Inventory Inventory March 31, December 31, 2018 2017 Finished goods $ 2,222 $ 2,761 Raw materials — — Total inventory $ 2,222 $ 2,761 Property Property March 31, December 31, 2018 2017 Equipment $ 2,935 $ 2,929 Computer hardware and software 739 721 Leasehold improvements 874 869 Furniture and fixtures 453 270 Total property and equipment 5,001 4,789 Less: Accumulated depreciation and amortization (3,784 ) (3,651 ) Total property and equipment, net $ 1,217 $ 1,138 Depreciation and amortization expense was $132 and $142 for three months ended March 31, 2018 and 2017, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. COMMITMENTS Operating The Company has various operating leases including 23,000 square feet of office space in San Jose, California, which expires in April 2022. Aggregate future minimum lease payments required under the Company’s operating leases as of March 31, 2018 are as follows: Years Ending December 31, 2018 (remaining 9 months) $ 378 2019 518 2020 534 2021 550 2022 188 Thereafter — Total future minimum lease payments $ 2,168 Total rent expense was $103 and $105 for three months ended March 31, 2018 and 2017. Commitments The Company has two master agreements and a component pricing agreement with Evolve Manufacturing Technologies, Inc. (Evolve) for the supply of the ARTAS System and consumable products. The terms of these master agreements are substantially similar. The master agreement for the sale of ARTAS Systems was effective beginning on April 1, 2016 and the master agreement for the sale of kits used with the ARTAS System was effective beginning on March 1, 2016. Both agreements are effective for an initial term of two years and will continue to automatically renew for additional twelve-month periods, subject to either party’s right to terminate the agreement upon 180 days advance notice during the initial term, if our quarterly forecasted demand falls below 75% of our historical forecasted demand for the same period in the previous year or upon 120 days’ advance notice after the initial term. Under the agreements, the Company has future purchase commitments totaling $2,200 as of March 31, 2018. In March 2018, the Company received U.S. FDA 510(k) clearance to expand the ARTAS System technology to include an implantation functionality. Based on manufacturing changes associated with the ARTAS system, the Company determined that certain components procured or expected to be procured by Evolve, will be in excess of expected demand or usage. Although the Company will be taking steps to minimize the adverse impact on the Company’s business, based on information available as of March 31, 2018, the Company’s management recorded a loss contingency accrual of $715 which is reported in “Cost of revenue” in the condensed consolidated statements of operations for the three-month ended March 31, 2018 and included in “Other accrued liabilities” on the condensed consolidated balance sheets as of March 31, 2018. Licensing In July 2006, the Company entered into a license agreement with Rassman Licensing, LLC (Rassman) for non-exclusive, royalty bearing, non-transferable, perpetual, world-wide rights for use on approved fields relating to robotically controlled hair removal and implantation procedures. In consideration for this license, the Company paid Rassman a one-time payment of $1,000. The agreement terminates on May 9, 2020. In February 2012, the Company amended its license agreement with Rassman. In exchange for a one-time $400 payment to Rassman, the Company now has a fully paid royalty-free license to a patent subject to this license agreement. Royalties for the three months ended March 31, 2018 and 2017 were $0. In July 2006, the Company entered into a license agreement with HSC Development, LLC for exclusive non-transferable, royalty-free worldwide rights for use in approved fields relating to a computer-controlled system in which a device is carried on a mechanized arm for extraction or implantation of a follicular unit without manual manipulation. In consideration for this license, the Company paid HSC Development, LLC a one-time payment of $25 and issued 2,500 shares of the Company’s common stock. The agreement terminates on July 27, 2024.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	7. LONG-TERM Loan and Security Agreement In May 2015, the Company entered into a loan and security agreement with Oxford Finance, LLC (Oxford) (the Oxford Agreement). Under the terms of the loan and security agreement, the Company borrowed $20,000 with an interest rate at the greater of (i) 8.5% per annum or (ii) U.S. Dollar LIBOR rate plus 8.0% per annum, which is collateralized by all personal property of the Company, excluding intellectual property, and issued 10-year warrants to purchase 110,486 shares of Series C Preferred Stock at $7.15 per share. No warrants were exercised in the first quarter of 2018. The estimated fair value of the warrants at issuance was recorded as a discount on the loan and amortized into interest expense over the expected life of the loan. In connection with the loan agreement, the Company recorded $246 of credit facility fees and $153 of debt issuance cost as of January 31, 2015. The credit facility fees and debt issuance costs are a discount on the debt and are being amortized to interest expense over the term of the loan using the effective-interest method. The loan will mature in July 2019, at which time the Company must repay the outstanding principal balance which includes a final payment of $1,300. The outstanding balance on the loan was $11,300 and accrued interest totaled $83 as of March 31, 2018. The interest rate was 10.3% at March 31, 2018. Borrowings under the Oxford Agreement are collateralized by all personal property of the Company, excluding intellectual property. The Agreement includes customary restrictive covenants that impose operating and financial restrictions on the Company, including restrictions on our ability to take actions that could be in the Company’s best interests. These restrictive covenants include operating covenants restricting, among other things, the Company’s ability to incur additional indebtedness, effect certain acquisitions or make other fundamental changes. The Company was in compliance with all of the covenants as of March 31, 2018 and December 31, 2017. The scheduled principal payments on the outstanding borrowings as of March 31, 2018 are as follows: As of March 31, 2018 2018 (remaining 9 months) $ 8,000 2019 3,300 Total 11,300 Less debt discount (205 ) Less current portion (7,801 ) Non-current portion $ 3,294 The entire outstanding principal balance plus accrued interest was paid off by the Company on May 10, 2018 in connection with the Company’s debt financing transactions in May 2018. Refer to Note 12 for additional information.

Common Stock Reserved For Issua

Common Stock Reserved For Issuance	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Common Stock Reserved For Issuance	8. COMMON STOCK RESERVED The Company is of which, there are none, March 31, December 31, 2018 2017 Outstanding common stock warrants 306,456 306,456 Outstanding and issued stock options 1,950,953 1,930,752 Shares reserved for future option grants 2 3,086,049 2,162,037 Total common stock reserved for issuance 5,343,458 4,399,245 ( 2 )

Stock Option Plan

Stock Option Plan	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Plan	9. STOCK OPTION PLAN 2005 and 2015 Plan The Company granted incentive stock options (ISOs) and non-statutory stock options (NSOs) pursuant to its 2005 Stock Option Plan (the 2005 Plan) until the Board of Directors approved the 2015 Stock Option Plan (the 2015 Plan), and all remaining shares available for future award under the 2005 Plan were transferred to the 2015 Plan and the 2005 Plan was terminated. The Company granted ISOs and NSOs pursuant to its 2015 Plan until the 2017 Equity Incentive Plan (the 2017 Plan) was approved by the Board of Directors and became effective on October 11, 2017. As a result of the 2017 Plan becoming effective, all remaining shares available for future award under the 2015 Plan were transferred to the 2017 Plan, the 2015 Plan was terminated, and no further grants will be made under the Company’s 2005 Plan and the 2015 Plan. Any outstanding stock awards granted under the 2005 Plan and the 2015 Plan will remain outstanding, subject to the terms of the Company’s 2005 Plan and 2015 Plan and the applicable stock award agreements, until such outstanding stock awards that are stock options are exercised or until they terminate or expire by their terms, or until such stock awards are fully settled, terminated or forfeited. 2017 Plan The Company’s 2017 Plan provides for the grant of ISOs, NSOs, stock appreciation rights, restricted stock awards, restricted stock unit awards, and other forms of equity compensation to employees, directors and consultants. In addition, the Company’s 2017 Plan provides for the grant of performance cash awards to employees, directors and consultants. The Company recognized Three Months Ended March 31, 2018 2017 Cost of revenue $ 4 $ 5 Sales and marketing 22 15 Research and development 15 21 General and administrative 84 65 Total stock-based compensation $ 125 $ 106 Determination The estimated Three Months Ended March 31, 2018 2017 Expected term (years) 6.1 * Risk-free interest rate 2.4% * Expected volatility 55.5% * Dividend yield 0% * * No stock options were issued during the three months ended March 31, 2017. The following table summarizes stock option activity under the Company’s stock option plan: Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Price Contractual Intrinsic Shares per Share Term Value Outstanding — December 31, 2017 1,930,752 $ 1.90 7.9 $ 5,322 Options granted 233,600 5.07 Options exercised (105,874 ) 1.84 Options cancelled (107,525 ) 1.73 Outstanding — March 31, 2018 1,950,953 $ 2.29 8.0 $ 7,695 Vested and expected to vest — March 31, 2018 1,742,479 $ 2.33 7.9 $ 6,794 Exercisable — March 31, 2018 941,344 $ 1.78 7.2 $ 4,707 The weighted-average grant date fair value of options granted was $2.75 per share for three months ended March 31, 2018. There were no options granted for the three months ended March 31, 2017. The total intrinsic value of options exercised was $14.8 and $0 for three months ended March 31, 2018 and 2017, respectively. Unamortized stock-based compensation was $1.200 as of March 31, 2018, which is expected to be recognized over a weighted-average period of approximately 3.10 years.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	10. INCOME TAXES The Company generated a loss for the three months ended March 31, 2018 and incurred $13.0 of tax expense for the three months ended March 31, 2018. The Company’s effective tax rate is (0.17)% for income tax for the three months ended March 31, 2018 and the Company expects that its effective tax rate for the full year 2018 will be (0.17)%. Based on available evidence, including cumulative losses since inception and expected future losses, the Company has determined that it is more likely than not that the Company’s U.S. federal, U.S. state and Korea deferred tax assets will not be realized and therefore a valuation allowance has been provided on these net deferred tax assets. The Company has substantial net operating loss carry forwards available to offset future taxable income for U.S. federal and state income tax purposes. The Company’s ability to utilize its net operating losses may be limited due to changes in its ownership as defined by Section 382 of the Internal Revenue Code (the Code). Under the provisions of Sections 382 and 383 of the Code, a change of control, as defined in the Code, may impose an annual limitation on the amount of the Company’s net operating loss and tax credit carryforwards, and other tax attributes that can be used to reduce future tax liabilities. The Company files tax returns for U.S. federal and state tax returns along with tax returns in the United Kingdom, Hong Kong, Spain and South Korea. The Company is not currently subject to any income tax examinations. Since the Company’s inception, the Company had incurred losses from its U.S. operations, which generally allows all tax years to remain open. Beginning in first quarter of 2018, the Company is subject to new provisions of the tax law, including provisions related to Global Low Taxed Intangible Income (GILTI), Foreign Derived Intangible Income deductions (FDII), and other changes. However, due to the Company’s losses and full valuation allowance in the U.S., these were determined to have no material impact to the Estimated Annual Effective Tax Rate due to the full Valuation Allowance in the U.S. Uncertain Tax Positions Effective January 1, 2009, the Company adopted ASC 740-10, which requires that the Company recognize the financial statement effects of a tax position when it becomes more likely than not, based upon the technical merits, that the position will be sustained upon examination. The gross amount of unrecognized tax benefits as of March 31, 2018 is approximately $1,400 and related to the reserve on R&D credits, none of which will affect the effective tax rate if recognized due to the valuation allowance. The Company does not expect any material changes in the next 12 months in unrecognized tax benefits. The Company recognizes interest and/or penalties related to uncertain tax positions. To the extent accrued interest and penalties do not ultimately become payable, amounts accrued will be reduced and reflected in the period that such determination is made. The interest and penalties are recognized as other expense and not tax expense. The Company currently has no interest and penalties related to uncertain tax positions.

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment and Geographic Information	11. SEGMENT AND GEOGRAPHIC INFORMATION The Company has determined that it operates in a single operating segment and has one reportable segment, as its Chief Executive Officer, reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The Company does not assess the performance of individual product line on measures of profit or loss, or asset-based metrics. Therefore, the information below is presented only for revenues by geography. The following Three Months Ended March 31, 2018 2017 United States $ 2,255 $ 2,544 Europe and Middle East 973 1,553 Asia Pacific 1,104 1,165 Rest of World 673 213 Total revenue $ 5,005 $ 5,475 As of March 31, 2018, and December 31, 2017, all long-lived assets were located within the United States.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS On May 10, 2018, the Company entered into a Loan and Security Agreement with Solar Capital Ltd. and certain other lenders (collectively, the “Lenders”) thereunder (the “Solar Agreement”). Under the terms of the Solar Agreement, the Company borrowed $20,000 with an interest rate at U.S. Dollar LIBOR plus 7.95% per annum. All amounts borrowed pursuant to the Solar Agreement are secured by liens on all personal property of the Company, excluding intellectual property. Monthly payments on any amounts drawn shall consist of the interest only payments for the first 18 months, followed by payments of principal and accrued interest on a monthly basis thereafter until April 2022, which is the four year anniversary of the date of the Solar Agreement. The Company used approximately $10,100 of the net proceeds to repay the entire outstanding principal balance and accrued interest under its existing loan agreement with Oxford Finance LLC and terminated the loan agreement with Oxford.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Liquidity	Liquidity These condensed consolidated financial statements are prepared on a going concern basis that contemplates the realization of assets and extinguishment of liabilities in the normal course of business. The Company has incurred net operating losses and negative cash flows from operations since inception. As of March 31, 2018, and December 31, 2017, the Company has an accumulated deficit of $171,918 and $164,487 and, as of such dates, did not have sufficient capital to fund its planned operations. Because of the Company’s recurring losses from operations and negative cash flows, the Company’s independent registered public accounting firm included an explanatory paragraph in its report on the Company’s consolidated financial statements as of, and for the year ended, December 31, 2017 that such factors raise substantial doubt about the Company’s ability to continue as a going concern. To continue its operations, the Company must achieve profitable operations and/or obtain additional financing. Until the Company generates revenue at a level to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows. The Company may never become profitable and even if it does attain profitable operations, it may not be able to sustain profitability or positive cash flows on a recurring basis. The Company will need to raise further capital in the future to service its debt or fund its operations until the time it can sustain positive cash flows. There can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are acceptable to the Company. If the Company is unable to raise sufficient additional capital, it may be compelled to reduce the scope of its operations and planned capital expenditures or sell certain assets, including intellectual property assets. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business, and, as such, the condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of March 31, 2018, the condensed consolidated statements of operations and condensed consolidated statements of comprehensive loss for the three months ended March 31, 2018 and 2017 and the condensed consolidated statements of cash flows for the three months ended March 31, 2018 and 2017 and the condensed consolidated statement of stockholders’ deficit for the three months ended March 31, 2018 are unaudited. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted counting principles in the United States (U.S. GAAP) and in the opinion of management, reflect all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s condensed consolidated financial statements included in this report. The condensed consolidated financial data disclosed in these notes to the condensed consolidated financial statements related to the three-month period are also unaudited. The condensed consolidated results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018, or for any other future annual or interim period. The consolidated balance sheet as of December 31, 2017 included herein was derived from the audited consolidated financial statements as of that date. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report filed on Form 10-K for the year ended December 31, 2017, with the SEC on March 5, 2018.
Principles of Consolidation	Principles of Consolidation The accompanying condensed c n s l i a e f i a c i a s t m n i c l u t u Restoration Robotics, Inc. A l i e rc m a n cc u n t r a s c i o a v b e l i m i a i o s l i a t i n
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to revenue recognition, the fair value of common stock, and the recoverability of the Company’s net deferred tax assets and related valuation allowance. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates.
Reclassification	Reclassification Certain amounts in the prior year's condensed consolidated balance sheet have been reclassified to conform to the current period's presentation. These reclassifications had no impact on the previously reported consolidated financial statements for the year ended December 31, 2017.
Concentration of Customers	Concentration of Customers For the three months ended March 31, 2018, no customers accounted for more than 10% of the Company’s revenue. For the three months ended March 31, 2017, two customers accounted for 13% and 16% of the Company’s revenue. As of March 31, 2018, no customers accounted for more than 10% of the Company’s accounts receivable. As of December 31, 2017, two customers accounted for 10% and 11% of the Company’s accounts receivable.
Jobs Act Accounting Election	JOBS Act Accounting Election The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued after the enactment of the JOBS Act until those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014‑09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016‑02, Leases (Topic 842)

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Outstanding Shares of Common Stock Equivalents Excluded from Calculation of Diluted Net Loss per Share Attributable to Common Stockholders	The following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive: As of March 31, 2018 2017 Options to purchase common stock 1,950,853 1,814,546 Convertible preferred stock — 21,142,375 Warrants for preferred stock — 385,141 Warrants for common stock 306,456 — Total potential dilutive shares 2,257,309 23,342,062

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule for Levels of Fair Value Measurements of Cash Equivalents	The following Fair Value Measurements as of March 31, 2018 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Cash Equivalents: Money market account $ 14,339 $ — $ — $ 14,339 Restricted cash: Money market account 100 — — 100 Total assets $ 14,439 $ — $ — $ 14,439 Fair Value Measurements as of December 31, 2017 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Cash Equivalents: (1) Money market account $ 18,728 $ — $ — $ 18,728 Restricted cash: Money market account 100 — — 100 Total assets $ 18,828 $ — $ — $ 18,828 (1) The Company incorrectly overstated its cash equivalents by $4,817 in its annual report on Form 10-K for the year ended December 31, 2017. Cash equivalents were $18,728, while cash was $4,817. The error in disclosure had no impact on previously reported cash and cash equivalents in the consolidated balance sheet as of December 31, 2017 or consolidated statement of operations for the year ended December 31, 2017.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2018
Balance Sheet Components [Abstract]
Schedule of Inventory	Inventory March 31, December 31, 2018 2017 Finished goods $ 2,222 $ 2,761 Raw materials — — Total inventory $ 2,222 $ 2,761
Schedule of Property and Equipment, Net	Property March 31, December 31, 2018 2017 Equipment $ 2,935 $ 2,929 Computer hardware and software 739 721 Leasehold improvements 874 869 Furniture and fixtures 453 270 Total property and equipment 5,001 4,789 Less: Accumulated depreciation and amortization (3,784 ) (3,651 ) Total property and equipment, net $ 1,217 $ 1,138

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Summary of Aggregate Future Minimum Lease Payments under Operating Leases	Aggregate future minimum lease payments required under the Company’s operating leases as of March 31, 2018 are as follows: Years Ending December 31, 2018 (remaining 9 months) $ 378 2019 518 2020 534 2021 550 2022 188 Thereafter — Total future minimum lease payments $ 2,168

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule Principal Payments on Outstanding Borrowings	The scheduled principal payments on the outstanding borrowings as of March 31, 2018 are as follows: As of March 31, 2018 2018 (remaining 9 months) $ 8,000 2019 3,300 Total 11,300 Less debt discount (205 ) Less current portion (7,801 ) Non-current portion $ 3,294

Common Stock Reserved For Iss26

Common Stock Reserved For Issuance (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Common Stock Available for Grant Under Employee Stock Incentive Plans and Reserves for Warrants	The Company is of which, there are none, March 31, December 31, 2018 2017 Outstanding common stock warrants 306,456 306,456 Outstanding and issued stock options 1,950,953 1,930,752 Shares reserved for future option grants 2 3,086,049 2,162,037 Total common stock reserved for issuance 5,343,458 4,399,245 ( 2 )

Stock Option Plan (Tables)

Stock Option Plan (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Recognized Stock-based Compensation Expense for Employees and Non-employees	The Company recognized Three Months Ended March 31, 2018 2017 Cost of revenue $ 4 $ 5 Sales and marketing 22 15 Research and development 15 21 General and administrative 84 65 Total stock-based compensation $ 125 $ 106
Fair Value of Stock Options Granted to Employees	The estimated Three Months Ended March 31, 2018 2017 Expected term (years) 6.1 * Risk-free interest rate 2.4% * Expected volatility 55.5% * Dividend yield 0% * * No stock options were issued during the three months ended March 31, 2017.
Summary of Stock Option Activity	The following table summarizes stock option activity under the Company’s stock option plan: Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Price Contractual Intrinsic Shares per Share Term Value Outstanding — December 31, 2017 1,930,752 $ 1.90 7.9 $ 5,322 Options granted 233,600 5.07 Options exercised (105,874 ) 1.84 Options cancelled (107,525 ) 1.73 Outstanding — March 31, 2018 1,950,953 $ 2.29 8.0 $ 7,695 Vested and expected to vest — March 31, 2018 1,742,479 $ 2.33 7.9 $ 6,794 Exercisable — March 31, 2018 941,344 $ 1.78 7.2 $ 4,707

Segment and Geographic Inform28

Segment and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Area	The following Three Months Ended March 31, 2018 2017 United States $ 2,255 $ 2,544 Europe and Middle East 973 1,553 Asia Pacific 1,104 1,165 Rest of World 673 213 Total revenue $ 5,005 $ 5,475

Nature of Operations - Addition

Nature of Operations - Additional Information (Details) $ / shares in Units, $ in Thousands	Oct. 16, 2017USD ($)$ / sharesshares	Sep. 15, 2017
Nature of Operations [Line Items]
Reverse stock split of common stock, description		1-for-10 reverse stock split
Reverse stock split of common stock, ratio		0.1
IPO
Nature of Operations [Line Items]
Number of common stock shares issued	3,897,910
Shares issued price per share | $ / shares	$ 7
Aggregate proceeds from initial public offering, after deducting underwriter discounts and commission | $	$ 22,114
Offering costs | $	$ 5,171
Outstanding shares of convertible preferred stock converted into common stock	22,671,601
IPO | Subordinated Convertible Notes
Nature of Operations [Line Items]
Outstanding convertible notes converted into common stock	718,184
Over-Allotment Option
Nature of Operations [Line Items]
Number of common stock shares issued	322,910

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)Customer	Mar. 31, 2017Customer	Dec. 31, 2017USD ($)Customer
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit | $	$ (171,918)		$ (164,487)
Customer Concentration Risk | Revenue
Summary Of Significant Accounting Policies [Line Items]
Number of major customers	0	2
Customer Concentration Risk | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Number of major customers	0		2
Customer Concentration Risk | Customer One | Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		13.00%
Customer Concentration Risk | Customer One | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.00%
Customer Concentration Risk | Customer Two | Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		16.00%
Customer Concentration Risk | Customer Two | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			11.00%

Net Loss Per Share - Outstandin

Net Loss Per Share - Outstanding Shares of Common Stock Equivalents Excluded from Calculation of Diluted Net Loss per Share Attributable to Common Stockholders (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	2,257,309	23,342,062
Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	1,950,853	1,814,546
Warrants for Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares		385,141
Warrants for Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares	306,456
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total potential dilutive shares		21,142,375

Fair Value Measurements - Sched

Fair Value Measurements - Schedule for Levels of Fair Value Measurements of Cash Equivalents - (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total assets	$ 14,439	$ 18,828
Quoted Prices in Active Markets using Identical Assets (Level 1)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total assets	14,439	18,828
Money Market Account
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash Equivalents	14,339	18,728	[1]
Restricted cash	100	100
Money Market Account | Quoted Prices in Active Markets using Identical Assets (Level 1)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash Equivalents	14,339	18,728	[1]
Restricted cash	$ 100	$ 100
[1]	The Company incorrectly overstated its cash equivalents by $4,817 in its annual report on Form 10-K for the year ended December 31, 2017. Cash equivalents were $18,728, while cash was $4,817. The error in disclosure had no impact on previously reported cash and cash equivalents in the consolidated balance sheet as of December 31, 2017 or consolidated statement of operations for the year ended December 31, 2017.

Fair Value Measurements - Sch33

Fair Value Measurements - Schedule for Levels of Fair Value Measurements of Cash Equivalents - (Parenthetical) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents	$ 18,728
Cash	4,817
Overstated
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash equivalents	$ 4,817

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 2,222	$ 2,761
Total inventory	$ 2,222	$ 2,761

Balance Sheet Components - Sc35

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Abstract]
Equipment	$ 2,935	$ 2,929
Computer hardware and software	739	721
Leasehold improvements	874	869
Furniture and fixtures	453	270
Total property and equipment	5,001	4,789
Less: Accumulated depreciation and amortization	(3,784)	(3,651)
Total property and equipment, net	$ 1,217	$ 1,138

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Property Plant And Equipment [Abstract]
Depreciation and amortization	$ 132	$ 142

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	1 Months Ended		3 Months Ended
	Feb. 29, 2012USD ($)	Jul. 31, 2006USD ($)shares	Mar. 31, 2018USD ($)ft²Agreement	Mar. 31, 2017USD ($)
Commitment And Contingencies [Line Items]
Rent expense			$ 103	$ 105
Loss contingency accrual			715
Rassman Licensing, LLC
Commitment And Contingencies [Line Items]
License agreement termination date		May 9, 2020
Rassman Licensing, LLC | License Agreement
Commitment And Contingencies [Line Items]
One time payment of royalty related to license	$ 400	$ 1,000
Royalty expense			$ 0	$ 0
HSC Development, LLC
Commitment And Contingencies [Line Items]
License agreement termination date		Jul. 27, 2024
HSC Development, LLC | License Agreement
Commitment And Contingencies [Line Items]
One time payment of royalty related to license		$ 25
Number of common stock shares issued | shares		2,500
Evolve Manufacturing Technologies, Inc. | ARTAS Systems
Commitment And Contingencies [Line Items]
Number of master agreements | Agreement			2
Master agreement for purchase of robotic device, effective date			Apr. 1, 2016
Master agreement for purchase of kits used with robotic device, effective date			Mar. 1, 2016
Initial term of master agreements			2 years
Master agreements, renewal term			12 months
Master agreements, term description			Both agreements are effective for an initial term of two years and will continue to automatically renew for additional twelve-month periods, subject to either party’s right to terminate the agreement upon 180 days advance notice during the initial term, if our quarterly forecasted demand falls below 75% of our historical forecasted demand for the same period in the previous year or upon 120 days’ advance notice after the initial term.
Future purchase commitments			$ 2,200
San Jose, California
Commitment And Contingencies [Line Items]
Operating lease office space area | ft²			23,000
Operating lease expiration date			2022-04

Commitments and Contingencies38

Commitments and Contingencies - Summary of Aggregate Future Minimum Lease Payments under Operating Leases (Details) $ in Thousands	Mar. 31, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
2018 (remaining 9 months)	$ 378
2,019	518
2,020	534
2,021	550
2,022	188
Total future minimum lease payments	$ 2,168

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	May 31, 2015	Mar. 31, 2018	Jan. 31, 2015
Debt Instrument [Line Items]
Net deferred debt costs		$ 205
Loan and Security Agreement | Oxford Finance, LLC
Debt Instrument [Line Items]
Debt instrument, borrowed amount	$ 20,000
Debt instrument, stated Interest rate	8.50%
Warrants exercised		0
Credit facility fees			$ 246
Net deferred debt costs			$ 153
Debt Instrument, maturity month and year	2019-07
Debt instrument, final payment amount upon maturity	$ 1,300
Debt instrument, outstanding balance		$ 11,300
Debt instrument, accrued interest		$ 83
Debt instrument, interest rate		10.30%
Loan and Security Agreement | Oxford Finance, LLC | Series C Convertible Preferred Stock
Debt Instrument [Line Items]
Debt conversion, warrants issued	110,486
Shares issued price per share	$ 7.15
Loan and Security Agreement | Oxford Finance, LLC | Warrants for Preferred Stock
Debt Instrument [Line Items]
Debt instrument, term	10 years
Loan and Security Agreement | Oxford Finance, LLC | LIBOR
Debt Instrument [Line Items]
Debt instrument, stated Interest rate	8.00%

Long-Term Debt - Schedule Princ

Long-Term Debt - Schedule Principal Payments on Outstanding Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2018 (remaining 9 months)	$ 8,000
2,019	3,300
Total	11,300
Less debt discount	(205)
Less current portion	(7,801)	$ (7,730)
Non-current portion	$ 3,294	$ 5,271

Schedule of Common Stock Availa

Schedule of Common Stock Available for Grant Under Employee Stock Incentive Plans and Reserves for Warrants (Details) - shares		Mar. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Outstanding and issued stock options		1,950,953	1,930,752
Shares reserved for future option grants	[1]	3,086,049	2,162,037
Total common stock reserved for issuance		5,343,458	4,399,245
Common Stock
Class Of Stock [Line Items]
Outstanding common stock warrants		306,456	306,456
[1]	The Company incorrectly understated its shares reserved for future option grants by 1,890,547 in its annual report on Form 10-K for the year ended December 31, 2017. The Company disclosed 271,490 shares reserved for future option grants at December 31, 2017, instead of 2,162,037 shares reserved for future option grants (as shown in the table above). The error in disclosure had no impact on previously reported consolidated financial statements as of and for the year ended December 31, 2017

Schedule of Common Stock Avai42

Schedule of Common Stock Available for Grant Under Employee Stock Incentive Plans and Reserves for Warrants (Parenthetical) (Details) - shares		Mar. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Shares reserved for future option grants	[1]	3,086,049	2,162,037
Scenario, Previously Reported
Class Of Stock [Line Items]
Shares reserved for future option grants			271,490
Error Correction of Shares Reserved for Future Option Grants Understated
Class Of Stock [Line Items]
Shares reserved for future option grants			1,890,547
[1]	The Company incorrectly understated its shares reserved for future option grants by 1,890,547 in its annual report on Form 10-K for the year ended December 31, 2017. The Company disclosed 271,490 shares reserved for future option grants at December 31, 2017, instead of 2,162,037 shares reserved for future option grants (as shown in the table above). The error in disclosure had no impact on previously reported consolidated financial statements as of and for the year ended December 31, 2017

Stock Option Plan - Additional

Stock Option Plan - Additional Information (Details) - USD ($)		Oct. 11, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	[1]		3,086,049		2,162,037
Weighted-average grant date fair value of options granted			$ 2.75
Stock options granted				0
Total intrinsic value of options exercised			$ 14,800	$ 0
Unamortized stock-based compensation			$ 1,200
Unamortized stock-based compensation, weighted-average period			3 years 1 month 6 days
2017 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Effective date of plan		Oct. 11, 2017
2005 Plan and 2015 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted		0
[1]	The Company incorrectly understated its shares reserved for future option grants by 1,890,547 in its annual report on Form 10-K for the year ended December 31, 2017. The Company disclosed 271,490 shares reserved for future option grants at December 31, 2017, instead of 2,162,037 shares reserved for future option grants (as shown in the table above). The error in disclosure had no impact on previously reported consolidated financial statements as of and for the year ended December 31, 2017

Stock Option Plan - Summary of

Stock Option Plan - Summary of Recognized Stock-based Compensation Expense for Employees and Non-employees (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 125	$ 106
Employees and Non-employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	125	106
Cost of Revenue | Employees and Non-employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	4	5
Sales and Marketing | Employees and Non-employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	22	15
Research and Development | Employees and Non-employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	15	21
General and Administrative | Employees and Non-employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 84	$ 65

Stock Option Plan - Estimated G

Stock Option Plan - Estimated Grant-Date Fair Value of Stock-Based Awards Calculated Using Black-Scholes-Merton Option Pricing Model (Details)	3 Months Ended
	Mar. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract]
Expected term (years)	6 years 1 month 6 days
Risk-free interest rate	2.40%
Expected volatility	55.50%
Dividend yield	0.00%

Stock Option Plan - Estimated46

Stock Option Plan - Estimated Grant-Date Fair Value of Stock-Based Awards Calculated Using Black-Scholes-Merton Option Pricing Model (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2017shares
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options issued	0

Stock Option Plan - Summary o47

Stock Option Plan - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Number of Shares, Outstanding, Beginning Balance	1,930,752
Number of Shares, Options granted	233,600
Number of Shares, Options exercised	(105,874)
Number of Shares, Options cancelled	(107,525)
Number of Shares, Outstanding, Ending Balance	1,950,953	1,930,752
Number of Shares, Vested and expected to vest	1,742,479
Number of Shares, Exercisable	941,344
Weighted-Average Exercise Price Per Share, Outstanding, Beginning Balance	$ 1.90
Weighted-Average Exercise Price Per Share, Options granted	5.07
Weighted-Average Exercise Price Per Share, Options exercised	1.84
Weighted-Average Exercise Price Per Share, Options cancelled	1.73
Weighted-Average Exercise Price Per Share, Outstanding, Ending Balance	2.29	$ 1.90
Weighted-Average Exercise Price Per Share, Vested and expected to vest	2.33
Weighted-Average Exercise Price Per Share, Exercisable	$ 1.78
Weighted-Average Remaining Contractual Term, Outstanding	8 years	7 years 10 months 24 days
Weighted-Average Remaining Contractual Term, Vested and expected to vest	7 years 10 months 24 days
Weighted-Average Remaining Contractual Term, Exercisable	7 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 7,695	$ 5,322
Aggregate Intrinsic Value, Vested and expected to vest	6,794
Aggregate Intrinsic Value, Exercisable	$ 4,707

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 13,000	$ 16,000
Effective income tax rate	(0.17%)
Unrecognized tax benefits	$ 1,400,000
Interest and penalties related to uncertain tax positions	$ 0

Segment and Geographic Inform49

Segment and Geographic Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Schedule of Revenue by Geograph

Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 5,005	$ 5,475
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	2,255	2,544
Europe and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	973	1,553
Asia Pacific
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	1,104	1,165
Rest of World
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 673	$ 213

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Loan and Security Agreement - USD ($)	May 10, 2018	May 31, 2015
Oxford Finance, LLC
Subsequent Event [Line Items]
Debt instrument, borrowed amount		$ 20,000,000
Debt Instrument, maturity month and year		2019-07
Subsequent Event
Subsequent Event [Line Items]
Number of period from the agreement date	4 years
Subsequent Event | Solar Capital Ltd
Subsequent Event [Line Items]
Debt instrument, borrowed amount	$ 20,000,000
Debt instrument, collateral description	All amounts borrowed pursuant to the Solar Agreement are secured by liens on all personal property of the Company, excluding intellectual property.
Debt instrument, payment terms	Monthly payments on any amounts drawn shall consist of the interest only payments for the first 18 months, followed by payments of principal and accrued interest on a monthly basis thereafter until April 2022, which is the four year anniversary of the date of the Solar Agreement.
Debt instrument, frequency of periodic payment	Monthly
Debt instrument, periodic interest payments period	18 months
Debt instrument, periodic payment principal and accrued interest period description	on a monthly basis
Debt Instrument, maturity month and year	2022-04
Subsequent Event | Solar Capital Ltd | Common Stock
Subsequent Event [Line Items]
Debt conversion, warrants issued	161,725
Warrants exercisable, price per share	$ 3.71
Subsequent Event | Solar Capital Ltd | LIBOR
Subsequent Event [Line Items]
Debt instrument, description of variable rate basis	U.S. Dollar LIBOR
Debt instrument, basis spread on variable rate	7.95%
Subsequent Event | Oxford Finance, LLC
Subsequent Event [Line Items]
Repayment of outstanding balance and accrued interest	$ 10,100,000