Rubicon Technology (RBCN) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Rubicon Technology, Inc.
Entity Central Index Key	0001410172
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Filer Number	001-33834
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	DE
Entity Common Stock, Shares Outstanding		2,406,225

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 10,882	$ 8,709
Restricted cash		171
Short-term investments	14,743	15,458
Accounts receivable, net	579	1,053
Inventories	1,236	1,710
Other inventory supplies	141	140
Prepaid expenses and other current assets	255	488
Assets held for sale	1,011	3,957
Total current assets	28,847	31,686
Inventories, non-current	468	468
Property and equipment, net	2,566	2,647
Total assets	31,881	34,801
Liabilities and stockholders' equity
Accounts payable	355	733
Accrued payroll	56	53
Accrued and other current liabilities	209	344
Corporate income and franchise taxes	298	296
Accrued real estate taxes	71	114
Advance payments		16
Total current liabilities	989	1,556
Total liabilities	989	1,556
Commitments and contingencies (Note 7)
Stockholders' equity
Preferred stock, $.001 par value, 1,000,000 undesignated shares authorized, no shares issued or outstanding
Common stock, $.001 par value, 8,200,000 shares authorized; 2,955,253 and 2,955,253 shares issued; 2,472,393 and 2,702,171 shares outstanding, respectively	29	29
Additional paid-in capital	376,319	376,306
Treasury stock, at cost, 482,860 and 253,082 shares	(14,617)	(12,749)
Accumulated other comprehensive income (loss)	(1)	(1)
Accumulated deficit	(330,838)	(330,340)
Total stockholders' equity	30,892	33,245
Total liabilities and stockholders' equity	$ 31,881	$ 34,801

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, undesignated shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	8,200,000	8,200,000
Common stock, shares issued	2,955,253	2,955,253
Common stock, shares outstanding	2,472,393	2,702,171
Treasury stock, shares	482,860	253,082

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 1,290	$ 769	$ 2,450	$ 1,689
Cost of goods sold	939	729	1,751	1,314
Gross profit	351	40	699	375
Operating expenses:
General and administrative	545	928	1,129	1,354
Sales and marketing	70	69	156	164
Gain on sale or disposal of assets	(1,823)	(76)	(1,823)	(151)
Income (loss) from operations	1,559	(881)	1,237	(992)
Other income:
Interest income	32	93	106	261
Unrealized gain (loss) on investments	156	(105)		(105)
Realized gain (loss) on investments	(37)	66	(1,824)	66
Realized gain (loss) on foreign currency translation	5	(3)	(8)
Total other income (loss)	156	51	(1,726)	222
Income (loss) before income taxes	1,715	(830)	(489)	(770)
Income tax expense	(4)	(6)	(9)	(10)
Net income (loss)	$ 1,711	$ (836)	$ (498)	$ (780)
Net income (loss) per common share
Basic	$ 0.68	$ (0.31)	$ (0.19)	$ (0.29)
Diluted	$ 0.68	$ (0.31)	$ (0.19)	$ (0.29)
Weighted average common shares outstanding used in computing net income (loss) per common share
Basic	2,513,945	2,704,357	2,571,706	2,717,240
Diluted	2,517,936	2,704,357	2,571,706	2,717,240

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,711	$ (836)	$ (498)	$ (780)
Other comprehensive income (loss):
Unrealized gain (loss) on investments, net of tax	(11)	21		3
Other comprehensive income (loss)	(11)	21		3
Comprehensive income (loss)	$ 1,700	$ (815)	$ (498)	$ (777)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Common stock	Treasury stock	Additional paid-in capital	Accum other comp loss	Accum deficit	Total
Balance at Dec. 31, 2018	$ 29	$ (12,213)	$ 375,979	$ (2)	$ (329,193)	$ 34,600
Balance, Shares at Dec. 31, 2018	2,919,542	(185,941)
Stock-based compensation			11			11
Common stock issued, net of shares withheld for employee taxes
Common stock issued, net of shares withheld for employee taxes, Shares	1,946
Purchase of treasury stock, at cost		$ (31)				(31)
Purchase of treasury stock, at cost, Shares		(3,999)
Unrealized gain (loss) on investments, net of tax				(19)		(19)
Net income (loss)					56	56
Balance at Mar. 31, 2019	$ 29	$ (12,244)	375,990	(21)	(329,137)	34,617
Balance, Shares at Mar. 31, 2019	2,921,488	(189,940)
Stock-based compensation			9			9
Common stock issued, net of shares withheld for employee taxes			36			36
Common stock issued, net of shares withheld for employee taxes, Shares	4,469
Purchase of treasury stock, at cost		$ (470)				(470)
Purchase of treasury stock, at cost, Shares		(58,850)
Unrealized gain (loss) on investments, net of tax				22		22
Net income (loss)					(836)	(836)
Balance at Jun. 30, 2019	$ 29	$ (12,714)	376,035	1	(329,973)	33,378
Balance, Shares at Jun. 30, 2019	2,925,957	(248,790)
Balance at Dec. 31, 2019	$ 29	$ (12,749)	376,306	(1)	(330,340)	33,245
Balance, Shares at Dec. 31, 2019	2,955,253	(253,082)
Stock-based compensation			11			11
Purchase of treasury stock, at cost		$ (1,205)				(1,205)
Purchase of treasury stock, at cost, Shares		(146,674)
Unrealized gain (loss) on investments, net of tax				11		11
Net income (loss)					(2,209)	(2,209)
Balance at Mar. 31, 2020	$ 29	$ (13,954)	376,317	10	(332,549)	29,853
Balance, Shares at Mar. 31, 2020	2,955,253	(399,756)
Stock-based compensation			2			2
Purchase of treasury stock, at cost		$ (663)				(663)
Purchase of treasury stock, at cost, Shares		(83,104)
Unrealized gain (loss) on investments, net of tax				(11)		(11)
Net income (loss)					1,711	1,717
Balance at Jun. 30, 2020	$ 29	$ (14,617)	$ 376,319	$ (1)	$ (330,838)	$ 30,892
Balance, Shares at Jun. 30, 2020	2,955,253	(482,860)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income (loss)	$ (498)	$ (780)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization	84	85
(Gain)/loss on sale or disposal of assets	(1,823)	(151)
Stock-based compensation	13	471
Realized (gain) loss on equity investments, net	1,824
Changes in operating assets and liabilities:
Accounts receivable	474	204
Inventories	474	189
Other inventory supplies	(1)	44
Prepaid expenses and other assets	232	(76)
Accounts payable	(378)	(30)
Accrued payroll	3	37
Accrued real estate taxes	(43)	5
Corporate income and franchise taxes	(1)	(7)
Advanced payments	(16)	(22)
Accrued and other current liabilities	(132)	(54)
Net cash provided by (used in) operating activities	212	(85)
Cash flows from investing activities
Purchase of property and equipment	(2)	(48)
Proceeds from sale or disposal of assets	4,773	151
Purchases of investments	(2,769)	(1,354)
Proceeds from sale of investments	1,660	235
Net cash provided by (used in) investing activities	3,662	(1,016)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards		(2)
Purchases of treasury stock	(1,868)	(501)
Net cash used in financing activities	(1,868)	(503)
Net effect of currency translation
Net decrease in cash, cash equivalents and restricted cash	2,006	(1,604)
Cash, cash equivalents and restricted cash, beginning of period	8,876	11,410
Cash, cash equivalents and restricted cash, end of period	$ 10,882	$ 9,806

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Interim financial data The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements and should be read in conjunction with Rubicon Technology, Inc.’s (the “Company”) annual report filed on Form 10-K for the fiscal year ended December 31, 2019. In the opinion of management, all adjustments (consisting only of adjustments of a normal and recurring nature) considered necessary for a fair presentation of the results of operations have been included. Consolidated operating results for the three- and six-month periods ended June 30, 2020, are not necessarily indicative of results that may be expected for the year ending December 31, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Rubicon Technology Worldwide LLC, Rubicon DTP LLC, Rubicon Technology BP LLC, Rubicon Sapphire Technology (Malaysia) SDN BHD and Rubicon Technology Hong Kong Limited. All intercompany transactions and balances have been eliminated in consolidation. Investments The Company invests available cash primarily in U.S. Treasury securities, investment grade commercial paper, FDIC guaranteed certificates of deposit, equity-related securities and corporate notes. Investments classified as available-for-sale debt securities are carried at fair value with unrealized gains and losses recorded in accumulated other comprehensive income (loss). Investments in equity securities are reported at fair value, with both realized and unrealized gains and losses recorded in other income (expense), in the Consolidated Statements of Operations. Investments in which the Company has the ability and intent, if necessary, to liquidate are classified as short-term. The Company reviews its available-for-sale debt securities investments at the end of each quarter for other-than-temporary declines in fair value based on the specific identification method. The Company considers various factors in determining whether an impairment is other-than-temporary, including the severity and duration of the impairment, changes in underlying credit ratings, forecasted recovery, its ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value and the probability that the scheduled cash payments will continue to be made. When the Company concludes that an other-than-temporary impairment has resulted, the difference between the fair value and carrying value is written off and recorded as a charge on the consolidated statements of operations. Accounts receivable The majority of the Company's accounts receivable is due from defense subcontractors, industrial manufacturers, fabricators, resellers and pharmacy benefit managers. Credit is extended based on an evaluation of the customer's financial condition. Accounts receivable are due based on contract terms and at stated amounts due from customers, net of an allowance for doubtful accounts. Losses from credit sales are provided for in the financial statements. Accounts outstanding longer than the contractual payment terms are considered past due. The Company determines its allowance by considering a number of factors, including length of time customer's account is past due, customer's current ability to pay and the condition of the general economy and industry as a whole. The Company writes off accounts receivable when they are deemed uncollectible and such write-offs, net of payments received, are recorded as a reduction to the allowance. Purchases of Equity Securities by the Issuer and Affiliated Purchasers The Company records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. In November 2018, the Company's Board of Directors authorized a program to repurchase up to $3 million of the Company's common stock. The Company's share repurchase program does not obligate it to acquire any specific number of shares. Under the program, shares may be repurchased in privately negotiated and/or open market transactions. The timing, price and volume of repurchases are based upon market conditions, relevant securities laws and other factors. The stock repurchase plan expires on November 19, 2021 and may be terminated at any time. See Note 10 Subsequent Events to the Condensed Financial Statements. Share repurchase activity during the three months ended June 30, 2020, was as follows: Periods Total Average Total Approximate of shares that may yet be purchased April 1, 2020 to April 30, 2020 69,336 $ 7.98 69,336 $ 640 May 1, 2020 to May 31, 2020 9,805 8.05 9,805 561 June 1, 2020 to June 30, 2020 3,963 7.67 3,963 531 Total 83,104 Inventories Inventories are valued at the lower of cost or net realizable value. Net realizable value is determined based on an estimated selling price in the ordinary course of business less reasonably predictable costs of completion and disposal. Raw materials cost is determined using the first-in, first-out method, and work-in-process and finished goods costs are determined on a standard cost basis, which includes materials, labor and manufacturing overhead. The Company reduces the carrying value of its inventories for differences between the cost and the estimated net realizable value, taking into account usage, expected demand, technological obsolescence and other information. The Company establishes inventory reserves when conditions exist that suggest inventory may be in excess of anticipated demand or is obsolete based on customer specifications. The Company evaluates the ability to realize the value of its inventory based on a combination of factors, including forecasted sales, estimated current and future market value and changes in customers' product specifications. The Company's method of estimating excess and obsolete inventory has remained consistent for all periods presented. Inventories consisted of the following: June 30, 2020 December 31, 2019 (in thousands) Raw materials $ 468 $ 468 Work-in-process 758 901 Finished goods 478 809 $ 1,704 $ 2,178 In the year ended December 31, 2019, the Company made the determination that raw material inventories were such that the likelihood of significant usage within the current year was doubtful and reclassified such raw material inventories as non-current in the reported financial statements. Property and equipment Property and equipment consisted of the following: June 30, 2020 December 31, 2019 (in thousands) Machinery, equipment and tooling $ 3,343 $ 3,341 Buildings 1,711 1,711 Information systems 835 835 Land and land improvements 594 594 Furniture and fixtures 8 8 Total cost 6,491 6,489 Accumulated depreciation and amortization (3,925 ) (3,842 ) Property and equipment, net $ 2,566 $ 2,647 Assets held for sale and long-lived assets When circumstances, such as adverse market conditions, indicate that the carrying value of a long-lived asset may be impaired, the Company performs an analysis to review the recoverability of the asset's carrying value. The Company makes estimates of the undiscounted cash flows (excluding interest charges) from the expected future operations of the asset. These estimates consider factors such as expected future operating income, operating trends and prospects, as well as the effects of demand, competition and other factors. If the analysis indicates that the carrying value is not recoverable from future cash flows, an impairment loss is recognized to the extent that the carrying value exceeds the estimated fair value. The estimated fair value of assets is determined using appraisal techniques, which assume the highest and best use of the asset by market participants, considering the use of the asset that is physically possible, legally permissible and financially feasible at the measurement date. Any impairment losses are recorded as operating expenses which reduce net income. For the year ended December 31, 2019, the Company reviewed the current fair value of its assets and concluded no adjustments were needed. Additionally, no adjustments were recorded for the six months ended June 30, 2020. The Company will continue to assess its long-lived assets to ensure the carrying amount of these assets is still appropriate given any changes in the asset usage, marketplace and other factors used in determining the current fair value. The Company completed the sale of its Malaysian facility for a sale price of Ringgit Malaysia 20,750,000. The Company realized net proceeds of approximately Ringgit Malaysia 20,364,000 (approximately $4.8 million based on the exchange rate on June 30, 2020 of $1=MYR4.27) after the payment of consent fees, real estate taxes, brokerage and legal fees, transfer and other expenses. The Company recorded a gain on the disposal of the Malaysian facility of approximately $1.8 million. The Company completed a sale of excess consumable assets in the amount of approximately $76,000 during the three months ended June 30, 2019. For the six months ended June 30, 2019, the Company sold $151,000 of excess consumable assets. The Company is pursuing the sale of its remaining parcels of land in Batavia, Illinois, and Penang, Malaysia. Although the Company cannot assure the timing of these sales, these properties were classified as current assets held for sale at June 30, 2020 and December 31, 2019, as it is the Company's intention to complete these sales within the next twelve-month period. The Company cannot guarantee that it will be able to successfully complete the sale or lease of any assets. Revenue recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue From Contracts with Customers The Company does not provide maintenance or other services and it does not have sales that involve bill & hold arrangements, multiple elements or deliverables. However, the Company does provide product warranty for up to 90 days, for which the Company has accrued a warranty reserve of $1,000 and $3,000 at June 30, 2020 and December 31, 2019, respectively. Net income (loss) per common share Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of diluted common shares outstanding during the period. Diluted shares outstanding are calculated by adding to the weighted-average shares (a) any outstanding stock options based on the treasury stock method and (b) restricted stock units ("RSU"). Diluted net income (loss) per common share was the same as basic net income (loss) per common share for the three and six months ended June 30, 2020 and 2019, because the effects of potentially dilutive securities did not have a material impact on the calculation of diluted net income (loss) per share. The Company had outstanding options exercisable into 19,500 and 32,126 shares of the Company's common stock that would have had an anti-dilutive or immaterial effect at June 30, 2020 and 2019, respectively.

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	3. INVESTMENTS The Company invests its available cash primarily in U.S. Treasury securities, investment grade commercial paper, FDIC guaranteed certificates of deposit, equity-related securities and corporate notes. Investments classified as available-for-sale debt securities are carried at fair value with unrealized gains and losses recorded in accumulated other comprehensive income/(loss). Investments in equity securities are reported at fair value, with both realized and unrealized gains and losses recorded in other income (expense), in the consolidated statements of operations. The following table presents the amortized cost and gross unrealized losses on all securities at June 30, 2020: Amortized Gross Gross Fair (in thousands) Short-term investments: U.S. Treasury securities $ 14,743 $ — $ — $ 14,743 Total short-term investments $ 14,743 $ — $ — $ 14,743 The following table presents the amortized cost and gross unrealized losses on all securities at December 31, 2019: Amortized Gross Gross Fair (in thousands) Short-term investments: U.S. Treasury securities $ 14,668 — — $ 14,668 Marketable securities 961 — (171 ) 790 Total short-term investments $ 15,629 $ — $ (171 ) $ 15,458 The Company values its investments at fair value, defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value, which are the following: ● Level 1—Quoted prices in active markets for identical assets or liabilities. ● Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company's fixed-income available-for-sale debt securities consist of U.S. Treasury securities, high-quality investment grade commercial paper, FDIC guaranteed certificates of deposit, equity-related securities and corporate notes. The Company values these securities based on pricing from pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. The valuation techniques used to measure the fair value of the Company's financial instruments having Level 2 inputs were derived from non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models, such as discounted cash flow techniques. The following table summarizes the Company's financial assets measured at fair value on a recurring basis as of June 30, 2020: Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 3,136 $ — $ — $ 3,136 Investments: Available-for-sale securities — current: U.S. Treasury securities — 14,743 — 14,743 Total $ 3,136 $ 14,743 $ — $ 17,879 The following table summarizes the Company's financial assets measured at fair value on a recurring basis as of December 31, 2019: Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 3,759 $ — $ — $ 3,759 Investments: Available-for-sale securities — current: U.S. Treasury securities — 14,668 — 14,668 Marketable securities 790 — — 790 Total $ 4,549 $ 14,668 $ — $ 19,217 There are no terms or conditions restricting the Company from redeeming any of its investments. In addition to the debt securities noted above, the Company had approximately $7.8 million and $4.9 million of time deposits included in cash and cash equivalents as of June 30, 2020 and December 31, 2019, respectively.

Significant Customers

Significant Customers	6 Months Ended
	Jun. 30, 2020
Significant Customers [Abstract]
SIGNIFICANT CUSTOMERS	4. SIGNIFICANT CUSTOMERS For the three months ended June 30, 2020, the Company had four customers individually that accounted for approximately 28%, 12%, 12% and 11%, of revenue. For the three months ended June 30, 2019, the Company had three customers individually that accounted for approximately 19%, 17% and 12% of revenue. For the six months ended June 30, 2020, the Company had five customers that accounted for approximately 24%, 14%, 12%, 10% and 10% of revenue. For the six months ended June 30, 2019, the Company had three customers that accounted for approximately 20%, 18% and 15% of revenue. No other customer accounted for 10% or more of the Company’s revenues during the three and six months ended June 30, 2020 and 2019. Customers individually representing more than 10% of trade receivables accounted for approximately 60% and 74% of accounts receivable as of June 30, 2020 and December 31, 2019, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	5. STOCKHOLDERS’ EQUITY Common shares reserved As of June 30, 2020, the Company had reserved 76,453 shares of common stock for issuance upon the exercise of outstanding common stock options and vesting of RSUs. Also, 281,775 shares of the Company’s common stock were reserved for future grants of stock options and RSUs (or other similar equity instruments) under the Rubicon Technology, Inc. 2016 Stock Incentive Plan (the “2016 Plan”) as of June 30, 2020.

Stock Incentive Plans

Stock Incentive Plans	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK INCENTIVE PLANS	6. STOCK INCENTIVE PLANS In August 2007, the Company adopted the Rubicon Technology Inc. 2007 Stock Incentive Plan, which was amended and restated effective in March 2011 (the "2007 Plan"), and which allowed for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, RSUs, performance awards and bonus shares. The maximum number of shares that could be awarded under the 2007 Plan was 440,769 shares. Options granted under the 2007 Plan entitled the holder to purchase shares of the Company's common stock at the specified option exercise price, which could not be less than the fair value of the common stock on the grant date. On June 24, 2016, the plan terminated with the adoption of the Rubicon Technology, Inc. 2016 Stock Incentive Plan, (the "2016 Plan"). Any existing awards under the 2007 Plan remain outstanding in accordance with their current terms under the 2007 Plan. In June 2016, the Company's stockholders approved adoption of the 2016 Plan effective as of March 17, 2016, which allows for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, RSUs, performance awards and bonus shares. The Compensation Committee of the Board administers the 2016 Plan. The committee determines the type of award to be granted, the fair value, the number of shares covered by the award, and the time when the award vests and may be exercised. Pursuant to the 2016 Plan, 281,775 shares of the Company's common stock plus any shares subject to outstanding awards under the 2007 Plan that subsequently expire unexercised, are forfeited without the delivery of shares or are settled in cash, will be available for issuance under the 2016 Plan. The 2016 Plan will automatically terminate on March 17, 2026, unless the Company terminates it sooner. The following table summarizes the activity of the stock incentive and equity plans as of June 30, 2020, and changes during the six months then ended: Shares available for grant Number of options outstanding Weighted- average exercise price Number of restricted stock and board shares issued Number of RSUs outstanding At January 1, 2020 281,386 22,839 $ 13.48 99,570 54,003 Granted — — — — — Exercised/issued — — — — — Cancelled/forfeited 389 (389 ) 196.31 — — At June 30, 2020 281,775 22,450 $ 10.31 99,570 54,003 The Company's aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the fair value of the Company's common stock. Based on the fair value of the common stock at June 30, 2020, there was $39,585 of intrinsic value arising from 19,500 stock options exercisable and outstanding. The Company uses the Black-Scholes option pricing model to value stock options. The Company uses historical stock price average to determine its volatility assumptions. The assumed risk-free rates were based on U.S. Treasury rates in effect at the time of grant with a term consistent with the expected option lives. The expected term is based upon the vesting term of the Company's options. The forfeiture rate of 36.13% is based on the history of forfeited options. The expense is allocated using the straight-line method. For the three and six months ended June 30, 2020, the Company recorded $2,000 and $5,000, respectively, of stock option compensation expense. For the three and six months ended June 30, 2019, the Company recorded $6,000 and $13,000, respectively, of stock option compensation expense. As of June 30, 2020, the Company had $4,000 of total unrecognized compensation cost related to non-vested stock option awards granted under the Company's stock-based plans that it expects to recognize over a weighted-average period of 0.25 years. A summary of the Company's non-vested options during the six months ended June 30, 2020, is presented below: Options Weighted- average exercise price Non-vested options at January 1, 2020 4,866 $ 5.79 Granted — — Vested — — Canceled/forfeited — — Non-vested options at June 30, 2020 4,866 $ 5.79 For the three and six months ended June 30, 2020, the Company did not record a RSU expense. For the three months and six months ended June 30, 2019, the Company recorded $7,000 and $7,000, respectively, of RSU expense. As of June 30, 2020, there was no compensation cost related to the non-vested RSUs remaining. A summary of the Company's RSUs for the six month period ended June 30, 2020 is presented below: RSUs outstanding Weighted average time of grant Aggregate intrinsic value Non-vested RSUs as of January 1, 2020 54,003 $ 6.56 Granted — — Vested — — Cancelled — — Non-vested RSUs at June 30, 2020 54,003 $ 6.56 $ 354,250 The Company's board of directors are compensated partially in cash and partially in restricted stock. For the three and six months ended June 30, 2020, the Company recorded $0 and $8,000, respectively, of stock compensation expense related to restricted stock. For the three and six months ended June 30, 2019, the Company recorded $3,000 and $7,000, respectively, of stock compensation expense related to restricted stock. For the three months and six months ended June 30, 2020, no restricted stock awards were issued to our directors. For the three months and six months ended June 30, 2019, $30,000 in restricted stock was issued to our directors. As of June 30, 2020 and December 31, 2019, outstanding non-vested restricted stock shares were 0 and 0 respectively. An analysis of restricted stock outstanding is as follows: Non-vested restricted stock as of January 1, 2020 — Granted — Vested — Non-vested restricted stock as of June 30, 2020 — The Company recognized an expense of $414,000 during the three months ended June 30, 2019 for the granting of shares to an employee of the Company as a bonus.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	7. COMMITMENTS AND CONTINGENCIES Litigation From time to time, the Company experiences routine litigation in the normal course of its business. The management of the Company does not believe any pending litigation, will have a material adverse effect on the financial condition, results of operations or cash flows of the Company. COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic. The full impact of the COVID-19 outbreak is unknown and cannot be reasonably estimated. The magnitude and duration of the COVID-19 outbreak, as well as other factors, could result in a material impact to the Company’s financial statements in future reporting periods.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	8. INCOME TAXES In 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”) which, among other provisions, reduced the U.S. corporate tax rate from 35% to 21% effective January 1, 2018. The SEC issued guidance, Staff Accounting Bulletin 118, on accounting for the tax effects of the Act. The guidance allows the Company to record provisional amounts for those impacts, with the requirement that the accounting be completed in a period not to exceed one year from the date of enactment. The Company has completed its accounting for the tax effects of enactment of the Act. The deemed inclusion from the repatriation tax increased from $3.9 million at the time of provision to $5.0 million at the time the calculation was finalized for the 2018 tax return. The increase of the inclusion related primarily to the refinement of Malaysia earnings and profits. As the Company is in a full valuation allowance position, an equal benefit adjustment was recorded for the impact of the increase of the deemed repatriation tax. The Company is subject to taxation in the U.S., Malaysia and in a U.S. state jurisdiction. On a quarterly basis, the Company assesses the recoverability of deferred tax assets and the need for a valuation allowance. Such evaluations involve the application of significant judgment, and multiple factors, both positive and negative, are considered. For the period ended June 30, 2020, a valuation allowance has been included in the 2020 forecasted effective tax rate. The Company is in a cumulative loss position for the past three years, which is considered significant negative evidence that is difficult to overcome on a “more likely than not” standard through objectively verifiable data. Under the accounting standards, objective verifiable evidence is given greater weight than subjective evidence such as the Company’s projections for future growth. Based on an evaluation in accordance with the accounting standards, as of December 31, 2015, a valuation allowance has been recorded against the net U.S. deferred tax assets in order to measure only the portion of the deferred tax assets that are more likely than not to be realized based on the weight of all available evidence. At June 30, 2020, the Company continues to be in a three-year cumulative loss position, therefore, until an appropriate level of profitability is attained, the Company expects to maintain a full valuation allowance on its U.S. and Malaysia net deferred tax assets. Any U.S. and Malaysia tax benefits or tax expense recorded on the Company’s consolidated statements of operations will be offset with a corresponding adjustment from the use of the net operating loss (“NOL”) carryforward asset which currently has a full valuation allowance. In the event that the Company changes its determination as to the amount of deferred tax assets that can be realized, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. The tax provision for the six months ended June 30, 2020, is based on an estimated combined statutory effective tax rate. The Company recorded for the three and six months ended June 30, 2020, a tax expense of $4,000 and $9,000, respectively, for an effective tax rate of 0.27% and -1.51%, respectively. For the three and six months ended June 30, 2020 the difference between the Company’s effective tax rate and the U.S. federal 21% statutory rate and state 6.2% (net of federal benefit) statutory rate was primarily related to the change in the Company’s U.S. and Malaysia valuation allowances, U.S. research and development credit, Malaysia foreign tax rate differential and Malaysia withholding taxes on intercompany loan interest.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	9. SEGMENT INFORMATION The Company has determined that it operates in two segments, the sapphire and pharmacy businesses. Revenue is attributed by geographic region based on ship-to location of the Company's customers. The following table summarizes revenue by geographic region: Three months ended Six months ended 2020 2019 2020 2019 (in thousands) (in thousands) North America $ 1,135 $ 697 $ 2,175 $ 1,560 Asia 155 72 268 119 Other — — 7 10 Total revenue $ 1,290 $ 769 $ 2,450 $ 1,689 The following table summarizes sales by product type: Three months ended Six months ended 2020 2019 2020 2019 (in thousands) (in thousands) Optical $ 1,090 $ 738 $ 2,117 $ 1,658 Direct Dose Rx 200 31 333 31 Total revenue $ 1,290 $ 769 $ 2,450 $ 1,689 The following table summarizes assets by geographic region: As of June 30, As of December 31, 2020 2019 (in thousands) North America $ 25,038 $ 29,703 Asia 6,843 5,094 Other — 4 Total assets $ 31,881 $ 34,801 Direct Dose Rx accounted for a loss of approximately $76,000 for the three months ended June 30, 2020 and approximately $195,000 for the six months ended June 30, 2020. The Company established Direct Dose Rx in May 2019.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	10. SUBSEQUENT EVENTS In November 2018, the Company's Board of Directors authorized a program to repurchase up to $3 million of the Company's common stock. Subsequent to June 30, 2020, the Company repurchased additional shares of its common stock and used up all of the remaining amount of the original $3 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Rubicon Technology Worldwide LLC, Rubicon DTP LLC, Rubicon Technology BP LLC, Rubicon Sapphire Technology (Malaysia) SDN BHD and Rubicon Technology Hong Kong Limited. All intercompany transactions and balances have been eliminated in consolidation.
Investments	Investments The Company invests available cash primarily in U.S. Treasury securities, investment grade commercial paper, FDIC guaranteed certificates of deposit, equity-related securities and corporate notes. Investments classified as available-for-sale debt securities are carried at fair value with unrealized gains and losses recorded in accumulated other comprehensive income (loss). Investments in equity securities are reported at fair value, with both realized and unrealized gains and losses recorded in other income (expense), in the Consolidated Statements of Operations. Investments in which the Company has the ability and intent, if necessary, to liquidate are classified as short-term. The Company reviews its available-for-sale debt securities investments at the end of each quarter for other-than-temporary declines in fair value based on the specific identification method. The Company considers various factors in determining whether an impairment is other-than-temporary, including the severity and duration of the impairment, changes in underlying credit ratings, forecasted recovery, its ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value and the probability that the scheduled cash payments will continue to be made. When the Company concludes that an other-than-temporary impairment has resulted, the difference between the fair value and carrying value is written off and recorded as a charge on the consolidated statements of operations.
Accounts receivable	Accounts receivable The majority of the Company's accounts receivable is due from defense subcontractors, industrial manufacturers, fabricators, resellers and pharmacy benefit managers. Credit is extended based on an evaluation of the customer's financial condition. Accounts receivable are due based on contract terms and at stated amounts due from customers, net of an allowance for doubtful accounts. Losses from credit sales are provided for in the financial statements. Accounts outstanding longer than the contractual payment terms are considered past due. The Company determines its allowance by considering a number of factors, including length of time customer's account is past due, customer's current ability to pay and the condition of the general economy and industry as a whole. The Company writes off accounts receivable when they are deemed uncollectible and such write-offs, net of payments received, are recorded as a reduction to the allowance.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers	Purchases of Equity Securities by the Issuer and Affiliated Purchasers The Company records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. In November 2018, the Company's Board of Directors authorized a program to repurchase up to $3 million of the Company's common stock. The Company's share repurchase program does not obligate it to acquire any specific number of shares. Under the program, shares may be repurchased in privately negotiated and/or open market transactions. The timing, price and volume of repurchases are based upon market conditions, relevant securities laws and other factors. The stock repurchase plan expires on November 19, 2021 and may be terminated at any time. See Note 10 Subsequent Events to the Condensed Financial Statements. Share repurchase activity during the three months ended June 30, 2020, was as follows: Periods Total Average Total Approximate of shares that may yet be purchased April 1, 2020 to April 30, 2020 69,336 $ 7.98 69,336 $ 640 May 1, 2020 to May 31, 2020 9,805 8.05 9,805 561 June 1, 2020 to June 30, 2020 3,963 7.67 3,963 531 Total 83,104
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. Net realizable value is determined based on an estimated selling price in the ordinary course of business less reasonably predictable costs of completion and disposal. Raw materials cost is determined using the first-in, first-out method, and work-in-process and finished goods costs are determined on a standard cost basis, which includes materials, labor and manufacturing overhead. The Company reduces the carrying value of its inventories for differences between the cost and the estimated net realizable value, taking into account usage, expected demand, technological obsolescence and other information. The Company establishes inventory reserves when conditions exist that suggest inventory may be in excess of anticipated demand or is obsolete based on customer specifications. The Company evaluates the ability to realize the value of its inventory based on a combination of factors, including forecasted sales, estimated current and future market value and changes in customers' product specifications. The Company's method of estimating excess and obsolete inventory has remained consistent for all periods presented. Inventories consisted of the following: June 30, 2020 December 31, 2019 (in thousands) Raw materials $ 468 $ 468 Work-in-process 758 901 Finished goods 478 809 $ 1,704 $ 2,178 In the year ended December 31, 2019, the Company made the determination that raw material inventories were such that the likelihood of significant usage within the current year was doubtful and reclassified such raw material inventories as non-current in the reported financial statements.
Property and equipment	Property and equipment Property and equipment consisted of the following: June 30, 2020 December 31, 2019 (in thousands) Machinery, equipment and tooling $ 3,343 $ 3,341 Buildings 1,711 1,711 Information systems 835 835 Land and land improvements 594 594 Furniture and fixtures 8 8 Total cost 6,491 6,489 Accumulated depreciation and amortization (3,925 ) (3,842 ) Property and equipment, net $ 2,566 $ 2,647
Assets held for sale and long-lived assets	Assets held for sale and long-lived assets When circumstances, such as adverse market conditions, indicate that the carrying value of a long-lived asset may be impaired, the Company performs an analysis to review the recoverability of the asset's carrying value. The Company makes estimates of the undiscounted cash flows (excluding interest charges) from the expected future operations of the asset. These estimates consider factors such as expected future operating income, operating trends and prospects, as well as the effects of demand, competition and other factors. If the analysis indicates that the carrying value is not recoverable from future cash flows, an impairment loss is recognized to the extent that the carrying value exceeds the estimated fair value. The estimated fair value of assets is determined using appraisal techniques, which assume the highest and best use of the asset by market participants, considering the use of the asset that is physically possible, legally permissible and financially feasible at the measurement date. Any impairment losses are recorded as operating expenses which reduce net income. For the year ended December 31, 2019, the Company reviewed the current fair value of its assets and concluded no adjustments were needed. Additionally, no adjustments were recorded for the six months ended June 30, 2020. The Company will continue to assess its long-lived assets to ensure the carrying amount of these assets is still appropriate given any changes in the asset usage, marketplace and other factors used in determining the current fair value. The Company completed the sale of its Malaysian facility for a sale price of Ringgit Malaysia 20,750,000. The Company realized net proceeds of approximately Ringgit Malaysia 20,364,000 (approximately $4.8 million based on the exchange rate on June 30, 2020 of $1=MYR4.27) after the payment of consent fees, real estate taxes, brokerage and legal fees, transfer and other expenses. The Company recorded a gain on the disposal of the Malaysian facility of approximately $1.8 million. The Company completed a sale of excess consumable assets in the amount of approximately $76,000 during the three months ended June 30, 2019. For the six months ended June 30, 2019, the Company sold $151,000 of excess consumable assets. The Company is pursuing the sale of its remaining parcels of land in Batavia, Illinois, and Penang, Malaysia. Although the Company cannot assure the timing of these sales, these properties were classified as current assets held for sale at June 30, 2020 and December 31, 2019, as it is the Company's intention to complete these sales within the next twelve-month period. The Company cannot guarantee that it will be able to successfully complete the sale or lease of any assets.
Revenue recognition	Revenue recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue From Contracts with Customers The Company does not provide maintenance or other services and it does not have sales that involve bill & hold arrangements, multiple elements or deliverables. However, the Company does provide product warranty for up to 90 days, for which the Company has accrued a warranty reserve of $1,000 and $3,000 at June 30, 2020 and December 31, 2019, respectively.
Net income (loss) per common share	Net income (loss) per common share Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of diluted common shares outstanding during the period. Diluted shares outstanding are calculated by adding to the weighted-average shares (a) any outstanding stock options based on the treasury stock method and (b) restricted stock units (“RSU”). Diluted net income (loss) per common share was the same as basic net income (loss) per common share for the three and six months ended June 30, 2020 and 2019, because the effects of potentially dilutive securities did not have a material impact on the calculation of diluted net income (loss) per share. The Company had outstanding options exercisable into 19,500 and 32,126 shares of the Company’s common stock that would have had an anti-dilutive or immaterial effect at June 30, 2020 and 2019, respectively.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of share repurchase activity	Periods Total Average Total Approximate of shares that may yet be purchased April 1, 2020 to April 30, 2020 69,336 $ 7.98 69,336 $ 640 May 1, 2020 to May 31, 2020 9,805 8.05 9,805 561 June 1, 2020 to June 30, 2020 3,963 7.67 3,963 531 Total 83,104
Schedule of inventories	June 30, 2020 December 31, 2019 (in thousands) Raw materials $ 468 $ 468 Work-in-process 758 901 Finished goods 478 809 $ 1,704 $ 2,178
Schedule of property and equipment	June 30, 2020 December 31, 2019 (in thousands) Machinery, equipment and tooling $ 3,343 $ 3,341 Buildings 1,711 1,711 Information systems 835 835 Land and land improvements 594 594 Furniture and fixtures 8 8 Total cost 6,491 6,489 Accumulated depreciation and amortization (3,925 ) (3,842 ) Property and equipment, net $ 2,566 $ 2,647

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of amortized cost and gross unrealized losses on all securities	Amortized Gross Gross Fair (in thousands) Short-term investments: U.S. Treasury securities $ 14,743 $ — $ — $ 14,743 Total short-term investments $ 14,743 $ — $ — $ 14,743 Amortized Gross Gross Fair (in thousands) Short-term investments: U.S. Treasury securities $ 14,668 — — $ 14,668 Marketable securities 961 — (171 ) 790 Total short-term investments $ 15,629 $ — $ (171 ) $ 15,458
Summary of financial assets measured at fair value on a recurring basis	Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 3,136 $ — $ — $ 3,136 Investments: Available-for-sale securities — current: U.S. Treasury securities — 14,743 — 14,743 Total $ 3,136 $ 14,743 $ — $ 17,879 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 3,759 $ — $ — $ 3,759 Investments: Available-for-sale securities — current: U.S. Treasury securities — 14,668 — 14,668 Marketable securities 790 — — 790 Total $ 4,549 $ 14,668 $ — $ 19,217

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of activity of stock incentive and equity plans	Shares available for grant Number of options outstanding Weighted- average exercise price Number of restricted stock and board shares issued Number of RSUs outstanding At January 1, 2020 281,386 22,839 $ 13.48 99,570 54,003 Granted — — — — — Exercised/issued — — — — — Cancelled/forfeited 389 (389 ) 196.31 — — At June 30, 2020 281,775 22,450 $ 10.31 99,570 54,003
Schedule of non-vested options	Options Weighted- average exercise price Non-vested options at January 1, 2020 4,866 $ 5.79 Granted — — Vested — — Canceled/forfeited — — Non-vested options at June 30, 2020 4,866 $ 5.79
Schedule of RSUs non-vested	RSUs outstanding Weighted average time of grant Aggregate intrinsic value Non-vested RSUs as of January 1, 2020 54,003 $ 6.56 Granted — — Vested — — Cancelled — — Non-vested RSUs at June 30, 2020 54,003 $ 6.56 $ 354,250
Summary of restricted stock outstanding	Non-vested restricted stock as of January 1, 2020 — Granted — Vested — Non-vested restricted stock as of June 30, 2020 —

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of geographic region	Three months ended Six months ended 2020 2019 2020 2019 (in thousands) (in thousands) North America $ 1,135 $ 697 $ 2,175 $ 1,560 Asia 155 72 268 119 Other — — 7 10 Total revenue $ 1,290 $ 769 $ 2,450 $ 1,689 Three months ended Six months ended 2020 2019 2020 2019 (in thousands) (in thousands) Optical $ 1,090 $ 738 $ 2,117 $ 1,658 Direct Dose Rx 200 31 333 31 Total revenue $ 1,290 $ 769 $ 2,450 $ 1,689 As of June 30, As of December 31, 2020 2019 (in thousands) North America $ 25,038 $ 29,703 Asia 6,843 5,094 Other — 4 Total assets $ 31,881 $ 34,801

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			6 Months Ended
	Jun. 30, 2020	May 31, 2020	Apr. 30, 2020	Jun. 30, 2020
Accounting Policies [Abstract]
Total number of shares purchased	3,963	9,805	69,336	83,104
Average price paid per share	$ 7.67	$ 8.05	$ 7.98
Total number of shares purchased as part of publicly announced program	3,963	9,805	69,336
Approximate dollar value of shares that may yet be purchased under the program	$ 531	$ 561	$ 640

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Raw materials	$ 468	$ 468
Work-in-process	758	901
Finished goods	478	809
Inventories	$ 1,704	$ 2,178

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Total cost	$ 6,491	$ 6,489
Accumulated depreciation and amortization	(3,925)	(3,842)
Property and equipment, net	2,566	2,647
Machinery, equipment and tooling [Member]
Summary Of Significant Accounting Policies [Line Items]
Total cost	3,343	3,341
Buildings [Member]
Summary Of Significant Accounting Policies [Line Items]
Total cost	1,711	1,711
Information systems [Member]
Summary Of Significant Accounting Policies [Line Items]
Total cost	835	835
Land and land improvements [Member]
Summary Of Significant Accounting Policies [Line Items]
Total cost	594	594
Furniture and fixtures [Member]
Summary Of Significant Accounting Policies [Line Items]
Total cost	$ 8	$ 8

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Nov. 30, 2018	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies (Textual)
Repurchase of common stock	$ 3,000
Stock repurchase plan expire date	Nov. 19, 2021
Warranty term			90 days
warranty reserve		$ 1,000	$ 1,000	$ 3,000
Research and development costs
Outstanding exercisable shares		19,500	19,500	32,126
Consumable assets the amount		$ 76,000	$ 151,000
property and equipment			$ 529,000
Malaysia [Member]
Summary of Significant Accounting Policies (Textual)
Description sale price			The Company completed the sale of its Malaysian facility for a sale price of Ringgit Malaysia 20,750,000. The Company realized net proceeds of approximately Ringgit Malaysia 20,364,000 (approximately $4.8 million based on the exchange rate on June 30, 2020 of $1=MYR4.27) after the payment of consent fees, real estate taxes, brokerage and legal fees, transfer and other expenses. The Company recorded a gain on the disposal of the Malaysian facility of approximately $1.8 million.

Investments (Details)

Investments (Details) - Short-term Investments [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 14,743	$ 15,629
Gross unrealized gains
Gross unrealized losses		(171)
Fair value	14,743	15,458
U.S. Treasury securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	14,743	14,668
Gross unrealized gains
Gross unrealized losses
Fair value	$ 14,743	14,668
Marketable securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost		961
Gross unrealized gains
Gross unrealized losses		(171)
Fair value		$ 790

Investments (Details 1)

Investments (Details 1) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Investments:
Total	$ 17,879	$ 19,217
Financial assets measured at fair value on a recurring basis [Member] | Marketable securities [Member]
Investments:
Available-for-sale securities - current:		790
Financial assets measured at fair value on a recurring basis [Member] | U.S. Treasury securities [Member]
Investments:
Available-for-sale securities - current:	14,743	14,668
Money market funds [Member] | Financial assets measured at fair value on a recurring basis [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents:	3,136	3,759
Level 1 [Member]
Investments:
Total	3,136	4,549
Level 1 [Member] | Financial assets measured at fair value on a recurring basis [Member] | Marketable securities [Member]
Investments:
Available-for-sale securities - current:		790
Level 1 [Member] | Financial assets measured at fair value on a recurring basis [Member] | U.S. Treasury securities [Member]
Investments:
Available-for-sale securities - current:
Level 1 [Member] | Money market funds [Member] | Financial assets measured at fair value on a recurring basis [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents:	3,136	3,759
Level 2 [Member]
Investments:
Total	14,743	14,668
Level 2 [Member] | Financial assets measured at fair value on a recurring basis [Member] | Marketable securities [Member]
Investments:
Available-for-sale securities - current:
Level 2 [Member] | Financial assets measured at fair value on a recurring basis [Member] | U.S. Treasury securities [Member]
Investments:
Available-for-sale securities - current:	14,743	14,668
Level 2 [Member] | Money market funds [Member] | Financial assets measured at fair value on a recurring basis [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents:
Level 3 [Member]
Investments:
Total
Level 3 [Member] | Financial assets measured at fair value on a recurring basis [Member] | Marketable securities [Member]
Investments:
Available-for-sale securities - current:
Level 3 [Member] | Financial assets measured at fair value on a recurring basis [Member] | U.S. Treasury securities [Member]
Investments:
Available-for-sale securities - current:
Level 3 [Member] | Money market funds [Member] | Financial assets measured at fair value on a recurring basis [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Cash equivalents:

Investments (Details Textual)

Investments (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Investments (Textual)
Time deposits included in cash and cash equivalents	$ 7,700	$ 4,900

Significant Customers (Details)

Significant Customers (Details) - Customers	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Significant Customers (Textual)
Number of customers			5	3
Trade Receivables [Member]
Significant Customers (Textual)
Concentration risk, percentage			60.00%	74.00%
Sales Revenue, Net [Member]
Significant Customers (Textual)
Concentration risk, percentage	10.00%	10.00%	10.00%	10.00%
Sales Revenue, Net [Member] | Customer One [Member]
Significant Customers (Textual)
Concentration risk, percentage	28.00%	19.00%	24.00%	20.00%
Sales Revenue, Net [Member] | Customer Two [Member]
Significant Customers (Textual)
Concentration risk, percentage	12.00%	17.00%	14.00%	18.00%
Sales Revenue, Net [Member] | Customer three [Member]
Significant Customers (Textual)
Concentration risk, percentage	12.00%	12.00%	12.00%	15.00%
Sales Revenue, Net [Member] | Customer Four [Member]
Significant Customers (Textual)
Concentration risk, percentage	11.00%		10.00%
Sales Revenue, Net [Member] | Customer Five [Member]
Significant Customers (Textual)
Concentration risk, percentage			10.00%
Accounts Receivable [Member]
Significant Customers (Textual)
Concentration risk, percentage			20.00%

Stockholders' Equity (Details)

Stockholders' Equity (Details)	Jun. 30, 2020shares
Stockholders' Equity (Textual)
Reserved common stock shares for issuance	76,453
Common stock reserved for future grants	281,775

Stock Incentive Plans (Details)

Stock Incentive Plans (Details) - Stock incentive and equity plans [Member]	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant, Balance	281,386
Shares available for grant, Granted
Shares available for grant, Exercised/issued
Shares available for grant, Canceled/forfeited	389
Shares available for grant, Balance	281,775
Number of options outstanding, Balance	22,839
Number of options outstanding, Granted
Number of options outstanding, Exercised/issued
Number of options outstanding, Canceled/forfeited	(389)
Number of options outstanding, Balance	22,450
Weighted-average option exercise price, Balance | $ / shares	$ 13.48
Weighted-average option exercise price, Granted | $ / shares
Weighted-average option exercise price, Exercised/issued | $ / shares
Weighted-average option exercise price, Cancelled/forfeited | $ / shares	196.31
Weighted-average option exercise price, Balance | $ / shares	$ 10.31
Number of restricted stock and board shares issued, Balance	99,570
Number of restricted stock and board shares issued, Granted
Number of restricted stock and board shares issued, Exercised/issued
Number of restricted stock and board shares issued, Canceled/forfeited
Number of restricted stock and board shares issued, Balance	99,570
Number of RSUs outstanding, Balance	54,003
Number of RSUs outstanding, Granted
Number of RSUs outstanding, Exercised/issued
Number of RSUs outstanding, Canceled/forfeited
Number of RSUs outstanding, Balance	54,003

Stock Incentive Plans (Details

Stock Incentive Plans (Details 1) - Non-vested options [Member]	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Non-vested options
Non-vested, Beginning balance | shares	4,866
Granted | shares
Vested | shares
Canceled/forfeited | shares
Non-vested, Ending balance | shares	4,866
Weighted-average exercise price
Non-vested, Beginning balance | $ / shares	$ 5.79
Granted | $ / shares
Vested | $ / shares
Canceled/forfeited | $ / shares
Non-vested, Ending balance | $ / shares	$ 5.79

Stock Incentive Plans (Detail_2

Stock Incentive Plans (Details 2) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested restricted stock units, Beginning balance | shares	54,003
RSUs outstanding, Granted | shares
RSUs outstanding, Vested | shares
RSUs outstanding, Cancelled | shares
Non-vested restricted stock units, Ending balance | shares	54,003
Weighted average price at time of grant, Beginning balance | $ / shares	$ 6.56
Weighted average price at time of grant, Granted | $ / shares
Weighted average price at time of grant, Vested | $ / shares
Weighted average price at time of grant, Cancelled | $ / shares
Weighted average price at time of grant, Ending balance | $ / shares	$ 6.56
Aggregate intrinsic value, Non-vested, Ending balance | $	$ 354,250

Stock Incentive Plans (Detail_3

Stock Incentive Plans (Details 3)	6 Months Ended
	Jun. 30, 2020shares
Share-based Payment Arrangement [Abstract]
Non-vested restricted stock, Beginning balance
Granted
Vested
Non-vested restricted stock, Ending balance

Stock Incentive Plans (Detail_4

Stock Incentive Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2016	Dec. 31, 2019	Aug. 31, 2007
Stock Incentive Plans (Textual)
Common stock reserved for future issuance of awards	281,775		281,775
Stock intrinsic value	$ 39,585		$ 39,585
Stock options exercisable or outstanding	19,500		19,500
Stock compensation expense	2,000	$ 6,000	5,000	$ 13,000
Unrecognized compensation cost	4,000	414,000	$ 4,000	414,000
Stock-based plan expect to recognize weighted-average period			2 months 30 days
Restricted stock units, description			The Company did not record a RSU expense. For the three months and six months ended June 30, 2019, the Company recorded $7,000 and $7,000, respectively, of RSU expense. As of June 30, 2020, there was no compensation cost related to the non-vested RSUs remaining.
Stock compensation expense related to restricted stock	0	3,000	$ 8,000	7,000
Stock compensation forfeiture rate			36.13%
Stock option compensation expense	$ 6,000	13,000
Restricted stock issued		$ 30,000		$ 30,000
Non-vested restricted stock shares	0		0			0
Restricted Stock Units (RSUs) [Member] | Key Executive [Member]
Stock Incentive Plans (Textual)
Number of restricted stock units granted			7,000	7,000
2007 Stock Incentive Plan [Member]
Stock Incentive Plans (Textual)
Maximum number of shares awarded or sold							440,769
2016 Plan [Member]
Stock Incentive Plans (Textual)
Common stock reserved for future issuance of awards					281,775
Plan termination date					Mar. 17, 2026

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2017
State tax net of federal benefit		(0.20%)
U.S. corporate tax rate		6.20%
Federal [Member]
State tax net of federal benefit	0.27%	(1.51%)
U.S. corporate tax rate		21.00%
Tax expense	$ 4,000	$ 9,000
Maximum [Member]
U.S. corporate tax rate			35.00%
Repatriation tax			$ 5,000
Minimum [Member]
U.S. corporate tax rate			21.00%
Repatriation tax			$ 3,900

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenue	$ 1,290	$ 769	$ 2,450	$ 1,689
North America [Member]
Total revenue	1,135	697	2,175	1,560
Asia [Member]
Total revenue	$ 155	$ 72	268	119
Other [Member]
Total revenue			$ 7	$ 10

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenue	$ 1,290	$ 769	$ 2,450	$ 1,689
Optical [Member]
Total revenue	1,090	738	2,117	1,658
Direct Dose Rx [Member]
Total revenue	$ 200	$ 31	$ 333	$ 31

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Total assets	$ 31,881	$ 34,801
North America [Member]
Total assets	25,038	29,703
Asia [Member]
Total assets	6,843	5,094
Other [Member]
Total assets		$ 4

Segment Information (Details Te

Segment Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Loss	$ 1,559	$ (881)	$ 1,237	$ (992)
Direct Dose Rx [Member]
Loss	$ 76		$ 195

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Aug. 31, 2020	Nov. 30, 2018
Subsequent Events (Textual)
Repurchase of common stock		$ 3,000
Subsequent Event [Member]
Subsequent Events (Textual)
Repurchase of common stock	$ 3,000
Repurchased additional shares amount	$ 3,000