Sientra (SIENQ) 10-K18 Mar 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Mar. 13, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	Sientra, Inc.
Entity Central Index Key	1551693
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$0
Entity Common Stock, Shares Outstanding		14,924,949
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$96,729	$9,722
Accounts receivable, net of allowances of $10,330 and $8,543 at December 31, 2014 and 2013, respectively	5,198	6,111
Inventories, net	20,174	21,533
Prepaid expenses and other current assets	1,782	884
Total current assets	123,883	38,250
Property and equipment, net	555	254
Goodwill	14,278	14,278
Other intangible assets, net	114	207
Other assets	248	177
Total assets	139,078	53,166
Current liabilities:
Current portion of long-term debt	3,757
Accounts payable	2,589	4,768
Accrued and other current liabilities	5,772	4,065
Customer deposits	8,614	4,908
Total current liabilities	20,732	13,741
Long-term debt	21,671	15,092
Warranty reserve and other long-term liabilities	1,036	550
Total liabilities	43,439	29,383
Commitments and contingencies (Note 9)
Convertible preferred stock, $0.01 par value - Authorized, issued and outstanding 24,593,087 shares at December 31 2013 (Liquidation preference of $151,000 as of December 31, 2013)		150,456
Stockholders' equity (deficit):
Preferred Stock, $0.01 par value - Authorized 10,000,000 shares; none issued or outstanding
Common stock, $0.01 par value - Authorized 200,000,000 and 30,200,000 shares; issued 14,985,704 and 279,879 and outstanding 14,912,977 and 207,152 shares at December31 2014 and 2013, respectively	150	3
Additional paid-in capital	229,795	1,819
Treasury stock, at cost (72,727 shares at December 31, 2014 and 2013)	-260	-260
Accumulated deficit	-134,046	-128,235
Total stockholders' equity (deficit)	95,639	-126,673
Total liabilities, convertible preferred stock and stockholders' equity (deficit)	$139,078	$53,166

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Balance Sheets
Accounts receivable, allowances (in dollars)	$10,330	$8,543
Convertible preferred stock, par value (in dollars per share)		$0.01
Convertible preferred stock, shares authorized		24,593,087
Convertible preferred stock, shares issued		24,593,087
Convertible preferred stock, shares outstanding		24,593,087
Liquidation preference (in dollars)		$151,000
Preferred stock, par value (in dollars per share)	$0.01
Preferred stock, shares authorized	10,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	200,000,000	30,200,000
Common stock, shares issued	14,985,704	279,879
Common stock, shares outstanding	14,912,977	207,152
Treasury stock, shares	72,727	72,727

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statements of Operations
Net sales	$44,733	$35,171	$10,447
Cost of goods sold	11,500	8,592	2,352
Gross profit	33,233	26,579	8,095
Operating expenses:
Sales and marketing	23,599	22,229	17,919
Research and development	4,707	4,479	3,670
General and administrative	10,712	18,078	9,938
Total operating expenses	39,018	44,786	31,527
Loss from operations	-5,785	-18,207	-23,432
Other (expense) income, net:
Interest expense	-2,172	-872
Other (expense) income, net:	2,146	-46	-1
Total other (expense) income, net	-26	-918	-1
Loss before income taxes	-5,811	-19,125	-23,433
Net loss	($5,811)	($19,125)	($23,433)
Basic and diluted net loss per share attributable to common stockholders (in dollars per share)	($2.28)	($82.25)	($85.01)
Weighted average outstanding common shares used for net loss per share attributable to common stockholders:
Basic and diluted (in shares)	2,545,371	232,512	275,642

Statements_of_Convertible_Pref

Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (USD $)	Convertible preferred stock	Common stock	Treasury stock	Additional paid-in capital	Accumulated deficit	Total
In Thousands, except Share data	Convertible preferred stock	Common stock	Treasury stock	Additional paid-in capital	Accumulated deficit	Total
Balance, beginning of year at Dec. 31, 2011	$85,903	$3		$1,107	($85,677)	($84,567)
Balance, beginning of year (in shares) at Dec. 31, 2011	12,409,397	275,036
Issuance of Series C convertible preferred stock at $5.335 per share, net of issuance costs of $447	64,553
Issuance of Series C convertible preferred stock (in shares)	12,183,690
Stock option exercises				3		3
Stock option exercises (in shares)		1,818
Employee stock-based compensation expense				357		357
Net loss					-23,433	-23,433
Balance, end of year at Dec. 31, 2012	150,456	3		1,467	-109,110	-107,640
Balance, end of year (in shares) at Dec. 31, 2012	24,593,087	276,854
Stock option exercises				10		10
Stock option exercises (in shares)		3,025
Repurchased common shares			-260			-260
Repurchased common shares (in shares)			72,727
Employee stock-based compensation expense				342		342
Net loss					-19,125	-19,125
Balance, end of year at Dec. 31, 2013	150,456	3	-260	1,819	-128,235	-126,673
Balance, end of year (in shares) at Dec. 31, 2013	24,593,087	279,879	72,727
Conversion of convertible preferred stock to common stock	-150,456	89		150,367		150,456
Conversion of convertible preferred stock to common stock (in shares)	-24,593,087	8,942,925
Proceeds from IPO, net of costs		58		76,977		77,035
Proceeds from IPO, net of costs (in shares)		5,750,000
Stock option exercises				38		38
Stock option exercises (in shares)		12,900
Employee stock-based compensation expense				594		594
Net loss					-5,811	-5,811
Balance, end of year at Dec. 31, 2014		$150	($260)	$229,795	($134,046)	$95,639
Balance, end of year (in shares) at Dec. 31, 2014		14,985,704	72,727

Statements_of_Convertible_Pref1

Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2012
Series C preferred stock
Value of issued stock (in dollars per share)	$5.34
Issuance costs	$447

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net loss	($5,811)	($19,125)	($23,433)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	275	280	288
Provision for sales return reserve	1,748	3,936	4,240
Provision for doubtful accounts	39	107	140
Provision for warranties	447	392	123
Change in fair value of warrants	220	46
Non cash interest expense	490	179
Stock-based compensation expense	594	342	357
Changes in assets and liabilities:
Accounts receivable	-873	-6,804	-7,636
Prepaid expenses, other current assets and other assets	-864	195	-575
Inventories	1,359	-10,852	-7,520
Accounts payable	-2,266	1,904	390
Accrued and other liabilities	1,385	-70	2,931
Customer deposits	3,707	3,593	849
Net cash provided by (used in) operating activities	450	-25,877	-29,846
Cash flows from investing activities:
Purchase of property and equipment	-439	-71	-394
Contingent payment related to Silimed acquisition		-18,000
Net cash used in investing activities	-439	-18,071	-394
Cash flows from financing activities:
Proceeds from exercise of stock options	38	10	3
Repurchase of common stock		-260
Proceeds from issuance of preferred stock, net			64,553
Proceeds from issuance of common stock, net of underwriters discount	80,213
Proceeds from issuance of long-term debt	10,000	15,000
Deferred financing costs	-148	-288
Deferred equity issuance costs	-3,107
Net cash provided by financing activities	86,996	14,462	64,556
Net increase (decrease) in cash and cash equivalents	87,007	-29,486	34,316
Cash and cash equivalents at:
Beginning of period	9,722	39,208	4,892
End of period	96,729	9,722	39,208
Cash paid during the year for:
Interest paid	1,577	641
Supplemental disclosure of noncash investing and financing activities:
Accrual for the resolution of contingent payment related to Silimed acquisition			18,000
Accrued equity issuance costs	71
Property and equipment in accounts payable	$44

Formation_and_Business_of_the_

Formation and Business of the Company	12 Months Ended
Formation and Business of the Company	Dec. 31, 2014
Formation and Business of the Company
Formation and Business of the Company
	1) Formation and Business of the Company
	(a) Formation
	Sientra, Inc., or the Company, was incorporated in the State of Delaware on August 29, 2003 under the name Juliet Medical, Inc. and subsequently changed its name to Sientra, Inc. in April 2007. The Company acquired substantially all the assets of Silimed, Inc., or Silimed, on April 4, 2007. The purpose of the acquisition was to acquire the rights to the silicone breast implant clinical trials. Following this acquisition, the Company focused on completing the clinical trials to gain Food and Drug Administration, or FDA, approval to offer its silicone gel breast implants in the United States.
	In March 2012, Sientra announced it had received approval from the FDA for its portfolio of silicone gel breast implants, and in the second quarter of 2012 the Company began commercialization efforts to sell its products in the United States. The Company, based in Santa Barbara, California, is a medical aesthetics company that focuses on serving board-certified plastic surgeons and offers a portfolio of silicone shaped and round breast implants, tissue expanders, and body contouring products.
	(b) Reverse Stock Split
	On October 10, 2014, the board of directors and stockholders approved an amendment to the Company's fourth amended and restated certificate of incorporation, which was filed on October 17, 2014, which effected a 1 for 2.75 reverse stock split of the Company's issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock, stock options and warrants and the related per share amounts contained in the Company's financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. Also, as a result of the reverse stock split of the common stock, the conversion ratios for all of the Company's convertible preferred stock have been adjusted such that the preferred stock are now convertible into shares of common stock at a conversion rate of 2.75-to-1 instead of 1-to-1. The number of issued and outstanding shares of preferred stock and their related per share amounts have not been affected by the reverse stock split and therefore have not been adjusted in the Company's financial statements. However, to the extent that the convertible preferred stock are presented on an as converted to common stock basis, such share and per share amounts contained in the Company's financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented.
	(c) Initial Public Offering
	On November 3, 2014, the Company completed an initial public offering, or IPO, whereby it sold a total of 5,750,000 shares of common stock at $15.00 per share inclusive of 750,000 shares sold to underwriters for the exercise of their option to purchase additional shares. The Company received net proceeds from the IPO of approximately $77,035, after deducting underwriting discounts and commissions and offering expenses of approximately $9,215. These expenses will be recorded against the proceeds received from the IPO.
	The interest-only period for the tranche D term loan (see Note 4) was extended from August 1, 2015 to August 1, 2016 as a result of having raised at least $50,000 in gross proceeds in the IPO and the completion of the IPO before June 30, 2015.
	The outstanding shares of convertible preferred stock were converted on a 2.75-to-1 basis into shares of common stock concurrent with the closing of the IPO. All of the outstanding shares of Series A, Series B and Series C preferred stock converted into 8,942,925 shares of common stock. Following the closing of the IPO, there were no shares of preferred stock outstanding.

Summary_of_Significant_Account

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

(a) Basis of Presentation and Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Assets and liabilities which are subject to significant judgment and use of estimates include the allowance for doubtful accounts, sales return reserves, provision for warranties, valuation of inventories, recoverability of long-lived assets, valuation allowances with respect to deferred tax assets, useful lives associated with property and equipment and finite lived intangible assets, and the valuation and assumptions underlying stock-based compensation and other equity instruments. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. In addition, the Company engages the assistance of valuation specialists in concluding on fair value measurements in connection with stock-based compensation and other equity instruments.

(b) Liquidity

Since inception, the Company has incurred net losses. During the years ended December 31, 2014, 2013, and 2012 the Company incurred net losses of $5,811, $19,125, and $23,433, respectively. The Company provided $450 of cash in operations for the year ended December 31, 2014 and used $25,877 and $29,846 of cash in operations during the years ended December 31, 2013 and 2012, respectively. At December 31, 2014 and 2013 the Company had an accumulated deficit of $134,046 and $128,235, respectively. At December 31, 2014, the Company had cash and cash equivalents of $96,729. The Company's ability to continue to meet its obligations and to achieve its business objectives is dependent upon, amongst other things, generating sufficient revenues. The Company believes that it has the ability to continue as a going concern through at least December 31, 2015.

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of checking accounts.

(d) Concentration of Credit and Supplier Risks

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company's cash and cash equivalents are deposited in demand accounts at a financial institution that management believes is creditworthy. The Company is exposed to credit risk in the event of default by this financial institution for cash and cash equivalents in excess of amounts insured by the Federal Deposit Insurance Corporation (FDIC). Management believes that the Company's investments in cash and cash equivalents are financially sound and have minimal credit risk and the Company has not experienced any losses on its deposits of cash and cash equivalents.

The Company currently purchases all of its Breast Products from one supplier under an exclusivity contract. The supplier and its production facility are located in Brazil. The Company is exposed to risks of foreign regulations in Brazil that could hinder the Company's ability to import goods, as well as halts or limitations in productions due to events outside of the Company's control occurring at the production facility. This could result in the Company not being able to acquire the inventory needed to meet customer demand, which would result in possible loss of sales and affect operating results adversely. Management believes that there is minimal risk of such events occurring.

(e) Fair Value of Financial Instruments

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and customer deposits are reasonable estimates of their fair value because of the short maturity of these items. The fair value of the common stock warrant liability is discussed in Note 2(f). The fair value of our long-term debt is based on the amount of future cash flows associated with the instrument discounted using our current market rate. At December 31, 2014, the carrying value of the long-term debt was not materially different from the fair value.

(f) Fair Value Measurements

Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for 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. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Level 2—Observable inputs (other than Level 1 quoted prices) such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

•

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The Company's common stock warrant liabilities are carried at fair value determined according to the fair value hierarchy described above. The Company has utilized an option pricing valuation model to determine the fair value of its outstanding common stock warrant liabilities. The inputs to the model include fair value of the common stock related to the warrant, exercise price of the warrant, expected term, expected volatility, risk-free interest rate and dividend yield. Prior to the IPO, the Company determined the fair value per share of the underlying common stock by taking into consideration its most recent sale of its convertible preferred stock as well as additional factors that the Company deems relevant. Subsequent to the IPO, the warrants are valued using the fair value of common stock as of the measurement date. The Company historically has been a private company and lacks company-specific historical and implied volatility information of its stock. Therefore, it estimates its expected stock volatility based on the historical volatility of publicly traded peer companies for a term equal to the remaining contractual term of the warrants. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve for time periods approximately equal to the remaining contractual term of the warrants. The Company has estimated a 0% dividend yield based on the expected dividend yield and the fact that the Company has never paid or declared dividends. As several significant inputs are not observable, the overall fair value measurement of the warrants is classified as Level 3.

The following tables present information about the Company's liabilities that are measured at fair value on a recurring basis as of December 31, 2014 and 2013 and indicate the level of the fair value hierarchy utilized to determine such fair value:

Fair Value Measurements as of

December 31, 2014 Using:

Level 1

Level 2

Level 3

Total

Liabilities:

Liability for common stock warrants

—

420

Fair Value Measurements as of

December 31, 2013 Using:

Level 1

Level 2

Level 3

Total

Liabilities:

Liability for common stock warrants

—

The following table provides a rollforward of the aggregate fair values of the Company's common stock warrants for which fair value is determined by Level 3 inputs:

Fair value upon issuance during 2013

Increase in fair value through December 31, 2013

Balance, January 1, 2014

Fair value of warrants upon issuance during 2014

110

Increase in fair value through December 31, 2014

220

Balance, December 31, 2014

420

The company recognized changes in the fair value of these warrants in other (expense) income, net in the statement of operations.

(g) Property and Equipment

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the asset; generally three years. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the related asset. Upon retirement or sale of an asset, the cost and related accumulated depreciation or amortization are removed from the balance sheet and any resulting gain or loss is reflected in operations in the period realized. Maintenance and repairs are charged to operations as incurred.

(h) Goodwill and Other Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of net assets of purchased businesses. Goodwill is not amortized, but instead subject to impairment tests on at least an annual basis and whenever circumstances suggest that goodwill may be impaired. The Company's annual test for impairment is performed as of October 1 of each fiscal year. The Company makes a qualitative assessment of whether it is more likely than not that a reporting unit's fair value is less than its carrying amount before applying the two-step goodwill impairment test. If the Company concludes that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, it is not required to perform the two-step impairment test for that reporting unit.

Under the first step of the test, the Company is required to compare the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired and the second step of the test is not performed. If the results of the first step of the impairment test indicate that the fair value of a reporting unit does not exceed its carrying amount, then the second step of the test is required. The second step of the test compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. The impairment loss is measured by the excess of the carrying amount of the reporting unit goodwill over the implied fair value of that goodwill.

Management evaluates the Company as a single reporting unit for business and operating purposes as all of the Company's revenue streams are generated by the same underlying products via sales in the United States of America. In addition, the majority of the Company's costs are, by their nature, shared costs that are not specifically identifiable to a geography or product line, but relate to all products. As a result, there is a high degree of interdependency among the Company's net sales and cash flows for the entity and identifiable cash flows for a reporting unit separate from the entity are not meaningful.

Judgments about the recoverability of purchased finite-lived intangible assets are made whenever events or changes in circumstance indicate that impairment may exist. Each fiscal year the Company evaluates the estimated remaining useful lives of purchased intangible assets and whether events or changes in circumstance warrant a revision to the remaining periods of amortization. Recoverability of finite-lived intangible assets is measured by comparison of the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate. The intangible asset is amortized to the statement of operations based on estimated cash flows generated from the intangible over its estimated life.

(i) Impairment of Long-Lived Assets

The Company's management routinely considers whether indicators of impairment of long-lived assets are present. If such indicators are present, management determines whether the sum of the estimated undiscounted cash flows attributable to the assets in question is less than their carrying value. If less, the Company will recognize an impairment loss based on the excess of the carrying amount of the assets over their respective fair values. Fair value is determined by discounted future cash flows, appraisals or other methods. If the assets determined to be impaired are to be held and used, the Company will recognize an impairment charge to the extent the present value of anticipated net cash flows attributable to the asset are less than the asset's carrying value. The fair value of the asset will then become the asset's new carrying value. There have been no impairments of long-lived assets recorded during the years ended December 31, 2014, 2013 and 2012. The Company may record impairment losses in future periods if factors influencing its estimates change.

(j) Revenue Recognition

The Company sells its product directly to customers in markets where it has regulatory approval. The Company offers a six-month return policy and recognizes revenue net of sales discounts and returns in accordance with the Financial Accounting Standards Board, or FASB, Accounting Standards Codification 605, Revenue Recognition (ASC 605). ASC 605 requires that six basic criteria must be met before revenue can be recognized when a right of return exists:

•

the seller's price to the buyer is substantially fixed or determinable at the date of sale;

•

the buyer has paid the seller, or the buyer is obligated to pay the seller and the obligation is not contingent on resale of the product;

•

the buyer's obligation to the seller would not be changed in the event of theft or physical destruction or damage of the product;

•

the buyer acquiring the product for resale has economic substance apart from that provided by the seller;

•

the seller does not have significant obligations for future performance to directly bring about resale of the product by the buyer; and

•

the amount of future returns can be reasonably estimated.

Appropriate reserves are established for anticipated sales returns based on historical experience, recent gross sales and any notification of pending returns. The Company recognizes revenue when title to the product and risk of loss transfer to customers, provided there are no remaining performance obligations required of the Company or any written matters requiring customer acceptance. The Company allows for the return of product from customers within six months after the original sale and records estimated sales returns as a reduction of sales in the same period revenue is recognized. Sales return provisions are calculated based upon historical experience with actual returns. Actual sales returns in any future period are inherently uncertain and thus may differ from the estimates. If actual sales returns differ significantly from the estimates, an adjustment to revenue in the current or subsequent period would be recorded. The Company has established an allowance for sales returns of $10,018 and $8,270 as of December 31, 2014 and 2013, respectively, recorded net against accounts receivable in the balance sheet.

A portion of the Company's revenue is generated from consigned inventory of breast implants maintained at doctor, hospital, and clinic locations. The customer is contractually obligated to maintain a specific level of inventory and to notify the Company upon use. For these products, revenue is recognized at the time the Company is notified by the customer that the product has been implanted. Notification is usually through the replenishing of the inventory and the Company periodically reviews consignment inventories to confirm accuracy of customer reporting. FDA regulations require tracking the sales of all implanted products.

Shipping and handling charges are largely provided to customers free of charge. The associated costs are viewed as part of the Company's marketing programs and are recorded as a component of sales and marketing expense in the statement of operations. For the years ended December 31, 2014, 2013 and 2012 these costs amounted to $1,305, $1,021 and $354, respectively.

In other cases, shipping and handling charges may be invoiced to customers based on the amount of products sold. In such cases, shipping and handling fees collected are recorded as revenue and the related expense as a component of cost of goods sold.

(k) Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability to collect from some of its customers. The allowances for doubtful accounts are based on the analysis of historical bad debts, customer credit-worthiness, past transaction history with the customer, and current economic trends. If the financial condition of the Company's customers were to deteriorate, adversely affecting their ability to make payments, additional allowances may be required. The Company has established an allowance for doubtful accounts of $312 and $273 as of December 31, 2014 and 2013, respectively.

(l) Inventories and Cost of Goods Sold

Inventories represent finished goods that are recorded at the lower of cost or market on a first-in, first-out basis (FIFO). The Company periodically assesses the recoverability of all inventories to determine whether adjustments for impairment or obsolescence are required. The Company evaluates the remaining shelf life and other general obsolescence and impairment criteria in assessing the recoverability of the Company's inventory.

The Company recognizes the cost of inventory transferred to the customer in cost of goods sold when revenue is recognized.

At December 31, 2014 and 2013, approximately $1,989 and $528, respectively, of the Company's inventory was held on consignment at doctors' offices, clinics, and hospitals. The value and quantity at any one location is not significant.

(m) Income Taxes

The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

The Company accounts for uncertain tax position in accordance with ASC 740-10, Accounting for Uncertainty in Income Taxes. The Company assesses all material positions taken in any income tax return, including all significant uncertain positions, in all tax years that are still subject to assessment or challenge by relevant taxing authorities. Assessing an uncertain tax position begins with the initial determination of the position's sustainability and is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. As of each balance sheet date, unresolved uncertain tax positions must be reassessed, and the Company will determine whether (i) the factors underlying the sustainability assertion have changed and (ii) the amount of the recognized tax benefit is still appropriate. The recognition and measurement of tax benefits requires significant judgment. Judgments concerning the recognition and measurement of tax benefit might change as new information becomes available.

(n) Research and Development Expenditures

Research and development costs are charged to operating expenses as incurred. Research and development, or R&D, primarily consist of clinical expenses, regulatory expenses, product development, consulting services, outside research activities, quality control, and other costs associated with the development of the Company's products and compliance with Good Clinical Practices, or GCP, requirements. R&D expenses also include related personnel and consultant compensation and stock-based compensation expense.

(o) Advertising

Expenses related to advertising are charged to sales and marketing expense as incurred. Advertising costs were $1,548, $801 and $510 for fiscal years 2014, 2013 and 2012, respectively.

(p) Stock-Based Compensation

The Company applies the fair value provisions of ASC 718, Compensation—Stock Compensation (ASC 718). ASC 718 requires the recognition of compensation expense, using a fair-value based method, for costs related to all employee share-based payments, including stock options and the employee stock purchase plan. ASC 718 requires companies to estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. All option grants valued are being expensed on a straight-line basis over their vesting period.

(q) Product Warranties

The Company offers a limited warranty and a lifetime product replacement program for the Company's silicone gel breast implants. Under the limited warranty program, the Company will reimburse patients for certain out-of-pocket costs related to revision surgeries performed within ten years from the date of implantation in a covered event. Under the lifetime product replacement program, the Company provides no-charge replacement breast implants under a covered event. The programs are available to all patients implanted with the Company's silicone breast implants after April 1, 2012 and are subject to the terms, conditions, claim procedures, limitations and exclusions. Timely completion of a device tracking and warranty enrollment form by the patient's Plastic Surgeon is required to activate the programs and for the patient to be able to receive benefits under either program.

The following table provides a rollforward of the accrued warranties:

December 31,

2014

2013

Beginning balance

515

123

Payment made during the period

)

—

Changes in accrual related to warranties issued during the period

509

392

Changes in accrual related to pre-existing warranties

(62

)

—

Ending balance

961

515

(r) Deferred Equity Issuance Costs

Deferred equity issuance costs, primarily consisting of legal, accounting and other direct fees and costs relating to the IPO, were capitalized, as incurred, in other current assets prior to the completion of the IPO. Upon completion of the IPO, $3,178 of issuance costs were capitalized, all of which were reclassified to additional-paid-in capital to offset the IPO proceeds.

(s) Segment Information

Management has determined that it has one business activity and operates in one segment as it only reports financial information on an aggregate basis to its Chief Executive Officer, who is the Company's chief operating decision maker. All tangible assets are held in the United States.

(t) Net Loss Per Share

Basic loss per share attributable to common stockholders is computed by dividing net loss by the weighted average number of common shares outstanding during each period. Diluted loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares and dilutive potential common share equivalents then outstanding, to the extent they are dilutive. Potential common shares consist of shares issuable upon the exercise of stock options and warrants (using the treasury stock method), and the weighted average conversion of the convertible preferred stock into shares of common stock (using the if-converted method). Dilutive loss per share is the same as basic loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive.

December 31,

2014

2013

2012

Net loss

(5,811

)

(19,125

)

(23,433

)

Weighted average common shares outstanding, basic and diluted

2,545,371

232,512

275,642

Net loss per share attributable to common stockholders

(2.28

)

(82.25

)

(85.01

)

The Company excluded the following potentially dilutive securities, outstanding as of December 31, 2014, 2013 and 2012 from the computation of diluted net loss per share attributable to common stockholders for the years ended December 31, 2014, 2013 and 2012 because they had an anti-dilutive impact due to the net loss attributable to common stockholders incurred for the periods.

December 31,

2014

2013

2012

Stock options to purchase common stock

1,613,544

1,422,315

1,409,047

Warrants for the purchase of common stock

47,710

30,670

—

Convertible preferred stock (as converted to common stock)

—

8,942,925

1,661,254

10,395,910

10,351,972

(u) Recent Accounting Pronouncements

In May 2014, the FASB issued accounting standard update 2014-09, Revenue from Contracts with Customers. The standard was issued to provide a single framework that replaces existing industry and transaction specific GAAP with a five step analysis of transactions to determine when and how revenue is recognized. This accounting standard update is expected to be effective for the Company beginning in fiscal year 2018. The Company is currently assessing the impact that the standard will have on the financial statements upon adoption of the guidance.

In August 2014, the FASB issued accounting standard update 2014-15, Presentation of Financial Statement—Going Concern. The standard was issued to provide guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. This accounting standard updated will be effective for the Company beginning in fiscal year 2016. The Company anticipates there will be no impact on its financial statement upon adoption of this guidance.

Balance_Sheet_Components

Balance Sheet Components	12 Months Ended
Balance Sheet Components	Dec. 31, 2014
Balance Sheet Components
Balance Sheet Components
	(3) Balance Sheet Components
	Property and equipment, net consist of the following:

		December 31,
		2014			2013
	Leasehold improvements	$	69		$	19
	Computer equipment		138			183
	Software		166			85
	Office equipment		167			128
	Furniture and fixtures		636			456

			1,176			871
	Less accumulated depreciation		(621	)		(617	)

		$	555		$	254


	Depreciation expense for the years ended December 31, 2014, 2013 and 2012 was $182, $148 and $109 respectively.
	Accrued and other current liabilities consist of the following:

		December 31
		2014			2013
	Accrued clinical trial and research and development expenses	$	109		$	166
	Audit, consulting and legal fees		72			124
	Payroll and related expenses		2,497			1,890
	Accrued commission		1,969			1,563
	Warrant liability		420			90
	Other		705			232

		$	5,772		$	4,065

Longterm_Debt

Long-term Debt	12 Months Ended
Long-term Debt	Dec. 31, 2014
Long-term Debt
Long-term Debt
	(4) Long-term Debt
	On January 17, 2013, the Company entered into a Loan and Security Agreement, or the Original Term Loan Agreement, with Oxford providing for a $15,000 term loan facility consisting of original term loans of (i) a $7,500 tranche A term loan, (ii) a $2,500 tranche B term loan and (iii) a $5,000 tranche C term loan, maturing on February 1, 2017. The term loan facility is collateralized by a first-priority security interest in substantially all of the Company's assets. Borrowings under the term loan facility bear interest at a rate equal to 8.4% per annum and the Original Term Loan Agreement provides for interest-only payments through June 30, 2015. The term loans include an additional lump sum payment of $975 due on February 1, 2017.
	On June 30, 2014, the Company entered into the Amended and Restated Loan and Security Agreement, or the Amended Term Loan Agreement, with Oxford, under which the interest-only period for the original term loans was extended to August 1, 2015 and raised an additional $10,000 in a fourth tranche (tranche D) maturing on January 1, 2019. The term loans are collateralized by a first-priority security interest in substantially all of the Company's assets. The term loans bear interest at a rate equal to 8.4% per annum. The interest-only period for the tranche A, B and C term loans ends on August 1, 2015 and the interest-only period for the tranche D term loan ends on the same date, but was extended another year to August 1, 2016 as the Company raised at least $50,000 in gross proceeds as part of the IPO (see Note 1). The tranche D term loan includes an additional lump sum payment of $650 due on January 1, 2019.
	The Amended Term Loan Agreement contains various negative and affirmative covenants, including certain restrictive covenants that limit the Company's ability to transfer or dispose of certain assets, engage in new lines of business, change the composition of Company management, merge with or acquire other companies, incur additional debt, create new liens and encumbrances, pay dividends or subordinated debt and enter into material transactions with affiliates, among others. The Amended Term Loan Agreement also contains financial reporting requirements.
	The aggregate maturities of long-term debt as of December 31, 2014 are: $3,757 in 2015, $11,094 in 2016, $5,558 in 2017, $4,223 in 2018 and $368 in 2019.
	In connection with the Original Term Loan Agreement and the Amended Term Loan Agreement, the Company issued to Oxford (i) seven-year warrants in January 2013 to purchase shares of the Company's common stock with a value equal to 3.0% of the tranche A, B and C term loans amounts and (ii) seven-year warrants in June 2014 to purchase shares of the Company's common stock with a value equal to 2.5% of the tranche D term loan amount. The warrants have an exercise price per share equal to the lesser of (i) the Series C preferred stock conversion price of $14.671 per share or (ii) the price per share in a subsequent qualified round of financing where gross proceeds are greater than $10,000.

Acquisition_of_Silimed_Inc

Acquisition of Silimed, Inc.	12 Months Ended
Acquisition of Silimed, Inc.	Dec. 31, 2014
Acquisition of Silimed, Inc.
Acquisition of Silimed, Inc.
	(5) Acquisition of Silimed, Inc.
	On April 4, 2007, the Company acquired substantially all of the assets of Silimed, a privately held Texas-based company engaged in the development and sale of medical devices including breast implants, under the terms of an Asset Purchase Agreement, or the APA. The consideration paid by the Company to Silimed was $29,850 in cash and 90,909 shares of the Company's common stock. The transaction also specified a series of contingent payments with a total potential value of $70,000. As the net assets acquired exceeded the purchase price, and since the contingencies were not resolved, the purchase price allocation included a deferred credit (negative goodwill) of $4,298.
	On May 16, 2013, the Company, Grader Street (formerly, Silimed, Inc.) and Grader Street's founder reached a confidential agreement in which the Company agreed to pay Grader Street a gross amount of $18,000 and to release all claims that the Company had against Grader Street and its founder. In return, Grader Street and its founder also released all claims, including all future contingent payments, under the APA. In addition, under the terms of the agreement, the Company paid $260 to repurchase all 72,727 shares (of the original 90,909 shares issued) currently held by Grader Street's founder.
	Accordingly, the excess fair value of the settlement payment and the release of $576 in other assets related to claims against Grader Street over the $4,298 deferred credit were recognized as additional cost of the asset acquisition as of December 31, 2013.

Goodwill_and_Other_Intangible_

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Dec. 31, 2014
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
	(6) Goodwill and Other Intangible Assets
	(a) Goodwill
	The carrying amount of goodwill was $14,278 for all periods presented. The Company has determined that it has one reporting unit and has chosen October 1 as the date for its annual impairment test. The Company performed the annual impairment test of goodwill for 2014 and 2013 and determined that goodwill was not impaired.
	(b) Other Intangible Assets
	The Company recorded approximately $1,713 of intangible assets in connection with the acquisition of Silimed. The components of the Company's intangible assets are as follows:

		December 31,
		2014			2013
	Acquired FDA non-gel product approval	$	1,713		$	1,713
	Less accumulated amortization		(1,599	)		(1,506	)

		$	114		$	207


	Amortization expense for intangible assets for the years ended December 31, 2014, 2013 and 2012 was $93, $132 and $179 respectively, and is recorded in general and administrative expense in the statement of operations. The remaining amortization period as of December 31, 2014 is 3 years. The following table summarizes the estimated amortization expense relating to the Company's intangible assets as of December 31, 2014:

	2015	$	61
	2016		37
	2017		16

		$	114

Income_Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2014
Income Taxes
Income Taxes
	(7) Income Taxes
	Actual income tax expense differs from that obtained by applying the statutory federal income tax rate of 34% to income before income taxes as follows:

		Year Ended December 31,
		2014			2013			2012
	Tax at federal statutory rate	$	(1,976	)	$	(6,502	)	$	(7,967	)
	State, net of federal benefit		(260	)		(576	)		(774	)
	Permanent items		580			339			255
	Research and development credits		(216	)		(232	)		(186	)
	Benefit state rate change		(941	)		—			—
	Other		495			15			98
	Change in valuation allowance		2,318			6,956			8,574

		$	—		$	—		$	—


	The tax effects of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets are as follows:

		December 31,
		2014			2013
	Net operating loss carryforwards	$	39,372		$	37,278
	Research and development credits		2,230			2,014
	Depreciation		36			31
	Accruals and reserves		5,035			3,706
	Intangibles		5,732			7,058

			52,405			50,087
	Less valuation allowance		(52,405	)		(50,087	)

	Total deferred tax assets	$	—		$	—


	The Company has established a full valuation allowance against its net deferred tax assets due to the uncertainty surrounding realization of such assets.
	As of December 31, 2014, the Company had net operating loss carryforwards of approximately $101,172 and $91,474 available to reduce future taxable income, if any, for federal and state income tax purposes, respectively. The federal net operating loss carryforward begins expiring in 2027, and the state net operating loss carryforwards begin expiring in 2017. It is possible that we will not generate taxable income in time to use these NOLs before their expiration. In addition, under Section 382 of the Internal Revenue Code of 1986, as amended, or the Code, if a corporation undergoes an "ownership change" (generally defined as a greater than 50% change, be value, in its equity ownership over a three year period), the corporation's ability to use its pre-change NOL carryforwards and other pre-change tax attributes to offset its post-change income may be limited. We have not performed a detailed analysis to determine whether an ownership change under Section 382 of the Code has previously occurred. As a result, if we earn net taxable income, our ability to use our pre-change net operating loss carryforwards to offset U.S. federal taxable income may become subject to limitations, which could potentially result in increased future tax liability to us. Until such analysis is completed, we cannot be sure that the full amount of the existing federal NOLs will be available to us, even if we do generate taxable income before their expiration.
	As of December 31, 2014, the Company had research and development credit carryforwards of approximately $1,799 and $1,762 available to reduce future taxable income, if any, for federal and California state income tax purposes, respectively. The federal credit carryforwards begin expiring in 2027 and the state credits carryforward indefinitely.
	At December 31, 2014, the Company had unrecognized tax benefits of approximately $732 associated with the research and development credits. The Company does not anticipate that total unrecognized net tax benefits will significantly change over the next twelve months.
	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	Ending balance at December 31, 2012	$	594
	Additions based on tax positions taken in the current year		77

	Ending balance at December 31, 2013		671
	Additions based on tax positions taken in the current year		61

	Ending balance at December 31, 2014	$	732


	It is the Company's policy to include penalties and interest expense related to income taxes as a component of other expense and interest expense, respectively, as necessary. There was no interest expense or penalties related to unrecognized tax benefits recorded through December 31, 2014.
	The Company files U.S. federal and state income tax returns in jurisdictions with varying statute of limitations. The years that may be subject to examination will vary by jurisdiction. The Company's tax years 2010 to 2014 will remain open for examination by the federal and state tax authorities.

Stockholders_Equity_Deficit

Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2014

Stockholders' Equity (Deficit)

(8) Stockholders' Equity (Deficit)

(a) Authorized Stock

The Company's Amended and Restated Certificate of Incorporation, effective upon the completion of the IPO, authorizes the Company to issue 210,000,000 shares of common and preferred stock, consisting of 200,000,000 shares of common stock with $0.01 par value and 10,000,000 shares of preferred stock with $0.01 par value. As of December 31, 2014, the Company has no preferred stock issued or outstanding.

Prior to the IPO, the Company was authorized to issue 30,200,000 shares of common stock with $0.01 par value and 24,593,087 shares of preferred stock with $0.01 par value.

(b) Convertible Preferred Stock

Prior to completion of the IPO, under the Company's Certificate of Incorporation, as amended, the Company's convertible preferred stock was issued in three series: A, B and C. The outstanding shares of convertible preferred stock were converted on a 2.75-to-1 basis into shares of common stock concurrent with the closing of the IPO. All of the outstanding shares of Series A, Series B and Series C preferred stock converted into 8,942,925 shares of common stock.

At December 31, 2013, the Company's convertible preferred stock consists of the following:

Series

Outstanding

Proceeds

Liquidation

Issuance

authorized

net of

value

date

issuance

costs

1,000,000

994

1,000

Oct-06

11,409,397

84,909

85,000

April 2007 and October 2008

12,183,690

64,553

65,000

Mar-12

24,593,087

150,456

151,000

As of December 31, 2013, the holders of convertible preferred stock have various rights and preferences as follows:

The holder of each share of Series A, Series B and Series C convertible preferred stock are entitled to the number of votes equal to the number of shares of the common stock into which each share of the preferred stock could be converted on the record date. The holders of shares of preferred stock have voting rights and powers equal to the voting rights and powers of holders of common stock.

(d) Dividends

The holders of convertible preferred stock are entitled to receive noncumulative dividends, when and if declared by the Board of Directors, out of any assets legally available, prior to and in preference to any declaration or payment of dividends on the common stock of the Company.

(e) Liquidation Preference

In the event of any corporate reorganization, liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, the holders of Series A, Series B and Series C are entitled to receive an amount of $1.00, $7.45 and $5.335 per share, respectively (adjusted to reflect stock dividends, stock splits, and recapitalization), plus any accrued but unpaid dividends. Holders of Series C are entitled to be paid first prior to payment of holders of Series A and Series B. Thereafter, the holders of Series B are entitled to be paid prior to payment of holders of Series A. The remaining assets, if any, shall be distributed among common stockholders.

As of December 31, 2013, the carrying value of the preferred stock has not been adjusted to its liquidation redemption value as an event that would trigger liquidation redemption is not considered probable.

(f) Conversion Rights

Each share of convertible preferred stock, at the option of the holder, is convertible at any time into the number of shares of common stock (adjusted to reflect stock dividends, stock splits and recapitalization) that results from dividing the original issue price by the conversion price in effect at the time of the conversion. The initial per share conversion price of the Series A, Series B and C convertible preferred stock is $2.75, $20.49 and $14.671 per share, respectively, and subject to adjustment in accordance with antidilution provisions contained in the Company's Articles of Incorporation.

If not previously converted at the option of the holder, the conversion of the convertible preferred stock is automatic and will be converted at the then applicable conversion prices upon the earlier of any of the following events: (i) affirmative election of the holders of at least 65% of the then outstanding shares of the convertible preferred stock on an as-if converted basis, or (ii) the closing of a firm commitment underwritten public offering based on an effective registration statement under the Securities Act of 1933 for the issuance of common stock. The per-share price must be at least 200% of the Series C purchase price resulting in the aggregate proceeds raised from the offering of at least greater than $35,000 or (iii) consent of holders of at least 65% of the then outstanding shares of the convertible preferred stock, on an as-if converted basis, in connection with any mandatory conversion, as prescribed in the Certificate of Incorporation, in which the current fair market value of the Company's Common Stock exceeds the Series C purchase price or (iv) upon the consent of the holders of at least 65% of the then outstanding shares of the convertible preferred stock, on an as-if converted basis, including the consent of all stockholders that hold in excess of 19% of the then outstanding shares of the preferred stock of the Company.

(g) Stock Option Plan

In April 2007, the Company adopted the 2007 Equity Incentive Plan, or 2007 Plan. The 2007 Plan provides for the granting of stock options to employees, directors and consultants of the Company. Options granted under the 2007 Plan may either be incentive stock options or nonstatutory stock options. Incentive stock options, or ISO, may be granted only to Company employees. Nonstatutory stock options, or NSO, may be granted to all eligible recipients. A total of 1,690,448 shares of the Company's common stock were reserved for issuance for the 2007 Plan.

Options under the 2007 Plan may be granted for periods of up to ten years as determined by the Board of Directors, provided, however, that (i) the exercise price of an ISO shall not be less than 100% of the estimated fair value of the shares on the date of grant, and (ii) the exercise price of an ISO granted to a more than 10% shareholder shall not be less than 110% of the estimated fair value of the shares on the date of grant. An NSO has no such exercise price limitations. The options generally vest on a straight-lined basis over the requisite service period of four years for the award. The vesting provisions of individual options may vary but provide for vesting of at least 25% per year.

As of December 31, 2014, pursuant to the 2007 Plan, there were 1,631,922 shares of common stock reserved and no shares of common stock available for future grants.

Our board of directors adopted our 2014 Equity Incentive Plan, or 2014 Plan, in July 2014, and our stockholders approved the 2014 Plan in October 2014. The 2014 Plan became effective upon completion of the IPO, at which time the Company ceased making awards under the 2007 Plan. Under the 2014 Plan, the Company may issue ISO, NSOs, stock appreciation rights, restricted stock awards, restricted stock unit awards and other forms of stock awards, or collectively, stock awards, all of which may be granted to employees, including officers, non-employee directors and consultants of us and our affiliates. ISOs may be granted only to employees. A total of 1,027,500 shares of common stock were initially reserved for issuance under the 2014 Plan, subject to certain annual increases.

Options under the 2014 Plan may be granted for periods of up to ten years as determined by the Board of Directors, provided, however, that (i) the exercise price of an ISO shall not be less than 100% of the estimated fair value of the shares on the date of grant, and (ii) the exercise price of an ISO granted to a more than 10% shareholder shall not be less than 110% of the estimated fair value of the shares on the date of grant and the option is not exercisable after the expiration of five years from the date of grant. An NSO has no such exercise price limitations. The options generally vest on a straight-lined basis over the requisite service period of four years for the award. The vesting provisions of individual options may vary but provide for vesting of at least 25% per year.

As of December 31, 2014, pursuant to the 2014 Plan, there were 1,027,500 shares of common stock reserved and 986,138 shares of common stock available for future grants.

The following summarizes all option activity under the 2007 and 2014 Plan:

Option Shares

Weighted

average

exercise price

remaining

contractual

term(years)

Balances at December 31, 2012

1,409,047

2.67

Granted

26,356

3.8

Exercised

(3,025

)

3.41

Forfeited

(10,063

)

3.93

Balances at December 31, 2013

1,422,315

2.67

5.76

Granted

266,069

12.72

Exercised

(12,900

)

2.99

Forfeited

(20,578

)

5.55

Balances at December 31, 2014

1,654,906

4.25

5.48

Vested and expected to vest at December 31, 2014

1,654,906

4.25

5.48

Vested and exercisable at December 31, 2014

1,245,505

2.54

4.42

The weighted average grant date fair value of stock options granted to employees and directors during the years ended December 31, 2014 and 2013 was $6.82 and $1.90 per share, respectively. Stock-based compensation expense for the years ended December 31, 2014, 2013 and 2012 was $560, $342 and $357, respectively. Tax benefits arising from the disposition of certain shares issued upon exercise of stock options within two years of the date of grant or within one year of the date of exercise by the option holder, or Disqualifying Dispositions, provide the Company with a tax deduction equal to the difference between the exercise price and the fair market value of the stock on the date of exercise. When realized, those excess windfall tax benefits are credited to additional paid-in capital. As of December 31, 2014 and 2013, there were total unrecognized compensation costs of $1,898 and $723, respectively, related to these stock options. The expense is recorded within the operating expense captions in the statement of operations based on the employees receiving the awards. As of December 31, 2014, these costs are expected to be recognized over a weighted average period of 2.84 years.

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company's common stock for those stock options that had exercise prices lower than the fair value of the Company's common stock. The aggregate intrinsic value of stock options exercised was $176 and $1 during the years ended December 31, 2014 and 2013, respectively.

The Company estimated the fair value of stock options using the Black-Scholes option valuation model. The fair value of employee stock options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of employee stock options was estimated using the following assumptions:

Year ended December 31,

2014

2013

Expected term (in years)

5.77 to 6.08

6.08

Expected volatility

52% to 57%

56%

Risk-free interest rate

1.71% to 2.00%

1.00% to 1.76%

Dividend yield

—

The expected term of employee stock options, risk-free interest rate and volatility represents the weighted average, based on grant date period, which the stock options are expected to remain outstanding. The Company utilized the simplified method to estimate the expected term of the options pursuant to ASC Subtopic 718-10 for all option grants to employees. The expected volatility is based upon historical volatilities of an index of a peer group because it is not practicable to make a reasonable estimate of the Company's volatility. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant for periods corresponding with the expected term of the option. The dividend yield assumption is based on the Company's history and expectation of dividend payouts. The Company has never declared or paid any cash dividends on its common stock, and the Company does not anticipate paying any cash dividends in the foreseeable future.

As stock-based compensation expense recognized in the Company's statement of operations is based on awards ultimately expected to vest, the amount has been reduced for estimated forfeitures. Forfeitures were estimated based on the Company's historical experience and future expectations.

For purposes of financial accounting for stock-based compensation, the Company has determined the fair values of its options based in part on the work of a third-party valuation specialist. The determination of stock-based compensation is inherently uncertain and subjective and involves the application of valuation models and assumptions requiring the use of judgment. If the Company had made different assumptions, its stock-based compensation expense, and its net loss could have been significantly different.

(h) Employee Stock Purchase Plan

The Company's board of directors adopted the 2014 Employee Stock Purchase Plan, or ESPP, in July 2014, and the stockholders approved the ESPP in October 2014. The ESPP allows eligible employees to purchase shares of the Company's common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations. The ESPP provides offering periods not to exceed 27 months, and each offering period will include purchase periods, which will be the approximately six-month period commencing with one exercise date and ending with the next exercise date, except that the first offering period commenced on the first trading day following the effective date of the Company's registration statement. Employees are able to purchase shares at 85% of the lower of the fair market value of the Company's common stock on the first trading day of the offering period or on the exercise date. The number of shares available for sale under the 2014 Employee Stock Purchase Plan will be increased annually on the first day of each fiscal year, equal to the lesser of i) 1% of the total outstanding shares of the Company's common stock as of the last day of the immediately preceding fiscal year; ii) 3,000,000 shares of common stock, or iii) such lesser amount as determined by the Board of Directors.

At December 31, 2014, no purchase has been made and 255,500 shares were available for future issuance under the ESPP. In 2014, the Company recorded $34 of stock-based expense related to the ESPP.

The Company estimated the fair value of employee stock purchase rights using the Black-Scholes model. The fair value of employee stock purchase right is being amortized on a straight-line basis over the requisite service period. The fair value of employee stock purchase right was estimated using the following assumptions:

Year ended

December 31, 2014

Expected term (in years)

0.63 to 2.14

Expected volatility

43% to 44%

Risk-free interest rate

0.08% to 0.49%

Dividend yield

—

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2014
Commitments and Contingencies
Commitments and Contingencies
	(9) Commitments and Contingencies
	(a) Operating Lease Commitment
	In August 2013, the Company entered into a four month warehouse lease in Santa Barbara, California, commencing on September 1, 2013. This operating lease is used for additional general office, warehouse, and research and development. This lease was renewed on December 10, 2013 for an additional six months, and was renewed again in June 2014 for an additional 12 months.
	In March 2014, the Company entered into a 68 month lease agreement in Santa Barbara, California. The operating lease is for general office use only and commenced on July 1, 2014.
	The terms of the facility lease provide for rental payments on a graduated scale. The Company recognizes rent expense on a straight-line basis over the lease term. Rent expense for the years ended December 31, 2014, 2013 and 2012 was $424, $359 and $376, respectively.
	As of December 31, 2014, future minimum lease payments under all non-cancelable operating leases are as follows:

	Years ending December 31:
	2015	$	500
	2016		400
	2017		403
	2018		415
	2019 and thereafter		499

		$	2,217


	(b) Contingencies
	The Company is subject to claims and assessments from time to time in the ordinary course of business. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. There were no contingent liabilities requiring accrual as of December 31, 2014.
	On March 27, 2012, Mentor Worldwide LLC (Mentor), a wholly owned subsidiary of Johnson & Johnson, filed thirteen lawsuits against fifteen employees of the Company (all former Mentor employees) and, on June 8, 2012, filed a fourteenth lawsuit against the Company and an additional employee. In general, these fourteen lawsuits alleged that the former employees of Mentor breached their confidentiality and non-compete agreements when they resigned in favor of employment with the Company; misappropriated confidential Mentor information and trade secrets; and breached their respective duties of loyalty. Although not a party to thirteen employee lawsuits, the Company provided for the defense of its employees in the lawsuits. In the employee lawsuits, all of Mentor's claims for Preliminary Injunctive Relief were denied. Following that, some of the employee lawsuits were dismissed with prejudice and others dismissed without prejudice. On October 3, 2013, the last of the thirteen employee lawsuits was dismissed.
	In the sole lawsuit against the Company, the Company and its employee prevailed at trial with verdicts of "no liability" rendered by the jury and judge. Final judgment in this case was entered on October 3, 2013 with the plaintiff ordered to reimburse defendants for certain court costs, and in 2014, Mentor waived its right to appeal.
	In 2012, the Company filed a claim with the Hartford Insurance Company (Hartford) for reimbursement of legal costs incurred in connection with litigation with Mentor. The Company holds a D&O insurance policy with Hartford, and the Company and Hartford settled the matter in May 2014. The Company received settlement payments from Hartford of $2,358 and $351 for the years ended December 31, 2014 and 2013, respectively.

Summary_of_Quarterly_Financial

Summary of Quarterly Financial Information (Unaudited)	12 Months Ended
Summary of Quarterly Financial Information (Unaudited)	Dec. 31, 2014
Summary of Quarterly Financial Information (Unaudited)
Summary of Quarterly Financial Information (Unaudited)
	(10) Summary of Quarterly Financial Information (Unaudited)
	The following tables set forth our unaudited quarterly statements of operations data in dollars and as a percentage of revenue and our key metrics for each of the eight quarters ended December 31, 2014. We have prepared the quarterly data on a consistent basis with the audited financial statements included in this report. In the opinion of management, the financial information reflects all necessary adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of this data. This information should be read in conjunction with the audited financial statements and related notes included elsewhere in this report. The results of historical periods are not necessarily indicative of the results of operations for a full year or any future period.

		Quarter Ended
	2014	March 31			June 30			September 30			December 31
	Net sales	$	10,228		$	11,719		$	10,670		$	12,116
	Gross profit		7,654			8,838			7,838			8,903
	Net loss		(953	)		(209	)		(1,452	)		(3,197	)
	Net loss per share:
	Basic and diluted	$	(4.59	)	$	(1.00	)	$	(6.94	)	$	(0.34	)


		Quarter Ended
	2013	March 31			June 30			September 30			December 31
	Net sales	$	8,461		$	9,479		$	7,981		$	9,250
	Gross profit		6,486			7,070			6,013			7,010
	Net loss		(4,112	)		(5,463	)		(6,475	)		(3,075	)
	Net loss per share:
	Basic and diluted	$	(14.85	)	$	(22.65	)	$	(31.45	)	$	(14.85	)

Schedule_II_Valuation_And_Qual

Schedule II - Valuation And Qualifying Accounts	12 Months Ended
Schedule II - Valuation And Qualifying Accounts	Dec. 31, 2014
Schedule II - Valuation And Qualifying Accounts
Schedule II - Valuation And Qualifying Accounts
	Sientra, Inc.
	Schedule II—Valuation and Qualifying Accounts
	December 31, 2014, 2013 and 2012
	(In thousands)

			Balance at		Additions		Deductions(1)			Balance at
			beginning of		charged to					end of
			period		costs and					period
					expenses
	Year ended December 31, 2012 Allowance for sales returns		$	95	$	27,884	$	(23,645	)	$	4,334


	Year ended December 31, 2013 Allowance for sales returns		$	4,334	$	93,768	$	(89,832	)	$	8,270


	Year ended December 31, 2014 Allowance for sales returns		$	8,270	$	110,033	$	(108,285	)	$	10,018




	-1	Amounts represent actual sales returns.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies

Basis of Presentation and Use of Estimates

(a) Basis of Presentation and Use of Estimates

Liquidity

(b) Liquidity

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of checking accounts.

Concentration of Credit and Supplier Risks

(d) Concentration of Credit and Supplier Risks

Fair Value of Financial Instruments

(e) Fair Value of Financial Instruments

Fair Value Measurements

(f) Fair Value Measurements

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Fair Value Measurements as of

December 31, 2014 Using:

Level 1

Level 2

Level 3

Total

Liabilities:

Liability for common stock warrants

—

420

Fair Value Measurements as of

December 31, 2013 Using:

Level 1

Level 2

Level 3

Total

Liabilities:

Liability for common stock warrants

—

The following table provides a rollforward of the aggregate fair values of the Company's common stock warrants for which fair value is determined by Level 3 inputs:

Fair value upon issuance during 2013

Increase in fair value through December 31, 2013

Balance, January 1, 2014

Fair value of warrants upon issuance during 2014

110

Increase in fair value through December 31, 2014

220

Balance, December 31, 2014

420

The company recognized changes in the fair value of these warrants in other (expense) income, net in the statement of operations.

Property and Equipment

(g) Property and Equipment

Goodwill and Other Intangible Assets

(h) Goodwill and Other Intangible Assets

Impairment of Long-Lived Assets

(i) Impairment of Long-Lived Assets

Revenue Recognition

(j) Revenue Recognition

•

the seller's price to the buyer is substantially fixed or determinable at the date of sale;

•

the buyer has paid the seller, or the buyer is obligated to pay the seller and the obligation is not contingent on resale of the product;

•

the buyer's obligation to the seller would not be changed in the event of theft or physical destruction or damage of the product;

•

the buyer acquiring the product for resale has economic substance apart from that provided by the seller;

•

the seller does not have significant obligations for future performance to directly bring about resale of the product by the buyer; and

•

the amount of future returns can be reasonably estimated.

Accounts Receivable and Allowance for Doubtful Accounts

(k) Accounts Receivable and Allowance for Doubtful Accounts

Inventories and Cost of Goods Sold

(l) Inventories and Cost of Goods Sold

The Company recognizes the cost of inventory transferred to the customer in cost of goods sold when revenue is recognized.

Income Taxes

(m) Income Taxes

Research and Development Expenditures

(n) Research and Development Expenditures

Advertising

(o) Advertising

Expenses related to advertising are charged to sales and marketing expense as incurred. Advertising costs were $1,548, $801 and $510 for fiscal years 2014, 2013 and 2012, respectively.

Stock-Based Compensation

(p) Stock-Based Compensation

Product Warranties

(q) Product Warranties

The following table provides a rollforward of the accrued warranties:

December 31,

2014

2013

Beginning balance

515

123

Payment made during the period

)

—

Changes in accrual related to warranties issued during the period

509

392

Changes in accrual related to pre-existing warranties

(62

)

—

Ending balance

961

515

Deferred Equity Issuance Costs

(r) Deferred Equity Issuance Costs

Segment Information

(s) Segment Information

Net Loss Per Share

(t) Net Loss Per Share

December 31,

2014

2013

2012

Net loss

(5,811

)

(19,125

)

(23,433

)

Weighted average common shares outstanding, basic and diluted

2,545,371

232,512

275,642

Net loss per share attributable to common stockholders

(2.28

)

(82.25

)

(85.01

)

December 31,

2014

2013

2012

Stock options to purchase common stock

1,613,544

1,422,315

1,409,047

Warrants for the purchase of common stock

47,710

30,670

—

Convertible preferred stock (as converted to common stock)

—

8,942,925

1,661,254

10,395,910

10,351,972

Recent Accounting Pronouncements

(u) Recent Accounting Pronouncements

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2014
Summary of Significant Accounting Policies
Schedule of Company's liabilities that are measured at fair value on a recurring basis

		Fair Value Measurements as of
		December 31, 2014 Using:
		Level 1			Level 2			Level 3			Total
	Liabilities:
	Liability for common stock warrants	$	—			—			420			420




		Fair Value Measurements as of
		December 31, 2013 Using:
		Level 1			Level 2			Level 3			Total
	Liabilities:
	Liability for common stock warrants	$	—			—			90			90




Schedule of aggregate fair values of the Company's common stock warrants for which fair value is determined by Level 3 inputs

	Fair value upon issuance during 2013	$	44
	Increase in fair value through December 31, 2013		46

	Balance, January 1, 2014		90
	Fair value of warrants upon issuance during 2014		110
	Increase in fair value through December 31, 2014		220

	Balance, December 31, 2014	$	420




Schedule of rollforward of the accrued warranties

		December 31,
		2014			2013
	Beginning balance	$	515		$	123
	Payment made during the period		(1	)		—
	Changes in accrual related to warranties issued during the period		509			392
	Changes in accrual related to pre-existing warranties		(62	)		—

	Ending balance	$	961		$	515




Schedule of net loss per share, basic and diluted

		December 31,
		2014			2013			2012
	Net loss	$	(5,811	)	$	(19,125	)	$	(23,433	)
	Weighted average common shares outstanding, basic and diluted		2,545,371			232,512			275,642

	Net loss per share attributable to common stockholders	$	(2.28	)	$	(82.25	)	$	(85.01	)




Schedule of potentially dilutive securities excluded from the computation of diluted net loss per share attributable to common stockholders

		December 31,
		2014			2013			2012
	Stock options to purchase common stock		1,613,544			1,422,315			1,409,047
	Warrants for the purchase of common stock		47,710			30,670			—
	Convertible preferred stock (as converted to common stock)		—			8,942,925			8,942,925

			1,661,254			10,395,910			10,351,972

Balance_Sheet_Components_Table

Balance Sheet Components (Tables)	12 Months Ended
Balance Sheet Components (Tables)	Dec. 31, 2014
Balance Sheet Components
Schedule of property and equipment, net

		December 31,
		2014			2013
	Leasehold improvements	$	69		$	19
	Computer equipment		138			183
	Software		166			85
	Office equipment		167			128
	Furniture and fixtures		636			456

			1,176			871
	Less accumulated depreciation		(621	)		(617	)

		$	555		$	254




Schedule of accrued and other current liabilities

		December 31
		2014			2013
	Accrued clinical trial and research and development expenses	$	109		$	166
	Audit, consulting and legal fees		72			124
	Payroll and related expenses		2,497			1,890
	Accrued commission		1,969			1,563
	Warrant liability		420			90
	Other		705			232

		$	5,772		$	4,065

Goodwill_and_Other_Intangible_1

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 31, 2014
Goodwill and Other Intangible Assets
Schedule of intangible assets

		December 31,
		2014			2013
	Acquired FDA non-gel product approval	$	1,713		$	1,713
	Less accumulated amortization		(1,599	)		(1,506	)

		$	114		$	207




Summary of estimated amortization expense

	2015	$	61
	2016		37
	2017		16

		$	114

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2014
Income Taxes
Schedule of reconciliation of actual income tax expense obtained by applying the statutory federal income tax rate

		Year Ended December 31,
		2014			2013			2012
	Tax at federal statutory rate	$	(1,976	)	$	(6,502	)	$	(7,967	)
	State, net of federal benefit		(260	)		(576	)		(774	)
	Permanent items		580			339			255
	Research and development credits		(216	)		(232	)		(186	)
	Benefit state rate change		(941	)		—			—
	Other		495			15			98
	Change in valuation allowance		2,318			6,956			8,574

		$	—		$	—		$	—




Schedule of tax effects of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets

		December 31,
		2014			2013
	Net operating loss carryforwards	$	39,372		$	37,278
	Research and development credits		2,230			2,014
	Depreciation		36			31
	Accruals and reserves		5,035			3,706
	Intangibles		5,732			7,058

			52,405			50,087
	Less valuation allowance		(52,405	)		(50,087	)

	Total deferred tax assets	$	—		$	—




Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

	Ending balance at December 31, 2012	$	594
	Additions based on tax positions taken in the current year		77

	Ending balance at December 31, 2013		671
	Additions based on tax positions taken in the current year		61

	Ending balance at December 31, 2014	$	732

Stockholders_Deficit_Tables

Stockholders' Deficit (Tables)	12 Months Ended
Stockholders' Deficit (Tables)	Dec. 31, 2014
Schedule of convertible preferred stock

	Series	Shares			Outstanding		Proceeds		Liquidation		Issuance
		authorized					net of		value		date
							issuance
							costs
	A		1,000,000			1,000,000	$	994		1,000	Oct-06
	B		11,409,397			11,409,397		84,909		85,000	April 2007 and October 2008
	C		12,183,690			12,183,690		64,553		65,000	Mar-12

			24,593,087			24,593,087	$	150,456		151,000




Summary of option activity

		Option Shares			Weighted		Weighted
					average		average
					exercise price		remaining
							contractual
							term(years)
	Balances at December 31, 2012		1,409,047		$	2.67
	Granted		26,356			3.8
	Exercised		(3,025	)		3.41
	Forfeited		(10,063	)		3.93

	Balances at December 31, 2013		1,422,315		$	2.67		5.76
	Granted		266,069			12.72
	Exercised		(12,900	)		2.99
	Forfeited		(20,578	)		5.55
	Balances at December 31, 2014		1,654,906		$	4.25		5.48


	Vested and expected to vest at December 31, 2014		1,654,906		$	4.25		5.48


	Vested and exercisable at December 31, 2014		1,245,505		$	2.54		4.42




Stock options
Schedule of fair value of employee stock options estimated using Black-Scholes option valuation model

		Year ended December 31,
		2014		2013
	Expected term (in years)	5.77 to 6.08		6.08
	Expected volatility	52% to 57%		56%
	Risk-free interest rate	1.71% to 2.00%		1.00% to 1.76%
	Dividend yield	—		—


2014 Employee Stock Purchase Plan
Schedule of fair value of employee stock options estimated using Black-Scholes option valuation model

		Year ended
		December 31, 2014
	Expected term (in years)	0.63 to 2.14
	Expected volatility	43% to 44%
	Risk-free interest rate	0.08% to 0.49%
	Dividend yield	—

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2014
Commitments and Contingencies
Schedule of future minimum lease payments under non-cancelable operating leases

	Years ending December 31:
	2015	$	500
	2016		400
	2017		403
	2018		415
	2019 and thereafter		499

		$	2,217

Summary_of_Quarterly_Financial1

Summary of Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Summary of Quarterly Financial Information (Unaudited)
Summary of Quarterly Financial Information (Unaudited)

		Quarter Ended
	2014	March 31			June 30			September 30			December 31
	Net sales	$	10,228		$	11,719		$	10,670		$	12,116
	Gross profit		7,654			8,838			7,838			8,903
	Net loss		(953	)		(209	)		(1,452	)		(3,197	)
	Net loss per share:
	Basic and diluted	$	(4.59	)	$	(1.00	)	$	(6.94	)	$	(0.34	)


		Quarter Ended
	2013	March 31			June 30			September 30			December 31
	Net sales	$	8,461		$	9,479		$	7,981		$	9,250
	Gross profit		6,486			7,070			6,013			7,010
	Net loss		(4,112	)		(5,463	)		(6,475	)		(3,075	)
	Net loss per share:
	Basic and diluted	$	(14.85	)	$	(22.65	)	$	(31.45	)	$	(14.85	)

Formation_and_Business_of_the_1

Formation and Business of the Company (Details) (USD $)	12 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Nov. 03, 2014	Oct. 10, 2014	Dec. 31, 2013	Jun. 30, 2014
Payment of underwriting discounts and commissions and offering expenses	$3,107
Convertible preferred stock, shares outstanding		0		24,593,087
Tranche D term loan
Threshold amount of gross proceeds in IPO to determine extended interest period of debt instruments					50,000
Tranche D term loan \| IPO
Threshold amount of gross proceeds in IPO to determine extended interest period of debt instruments		50,000
Common stock
Conversion rate			0.364
Shares issued on conversion of Series A, Series B and Series C preferred stock		8,942,925
Common stock \| IPO
Shares issued		5,750,000
Initial public offering price (in dollars per share)		15
Net proceeds after deducting underwriting discounts and commissions and offering expenses		77,035
Payment of underwriting discounts and commissions and offering expenses		9,215
Common stock \| Over allotment option exercised by underwriters
Shares issued		750,000
Preferred Stock
Conversion rate			2.75
Convertible preferred stock
Conversion rate		2.75

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	item	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Summary of Significant Accounting Policies
Net loss	$3,197	$1,452	$209	$953	$3,075	$6,475	$5,463	$4,112	$5,811	$19,125	$23,433
Net cash provided by (used in) operations									450	-25,877	-29,846
Accumulated deficit	134,046				128,235				134,046	128,235
Cash and cash equivalents	$96,729				$9,722				$96,729	$9,722	$39,208	$4,892
Concentration of Credit and Supplier Risks
Number of suppliers of Breast Products									1

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 2) (Warrants, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value Measurements
Estimated dividend yield	0.00%
Fair values of the Company's common stock warrants determined by Level 3 inputs
Balance at beginning of the period	$90
Fair value of warrants upon issuance	110	44
Increase in fair value	220	46
Balance at the end of the period	420	90
Recurring
Fair Value Measurements
Liabilities	420	90
Level 3 \| Recurring
Fair Value Measurements
Liabilities	$420	$90

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment
Estimated useful life of asset	3 years
Impairment of long-lived assets	$0	$0	$0
Revenue Recognition
Period for sales return	6 months
Allowance for sales returns	10,018	8,270
Shipping and handling charges	1,305	1,021	354
Allowance for doubtful accounts	312	273
Inventory held on consignment at doctors' offices, clinics, and hospitals	1,989	528
Advertising costs	$1,548	$801	$510

Summary_of_Significant_Account6

Summary of Significant Accounting Policies (Details 4) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	item	Dec. 31, 2013
Product Warranties
Period to claim reimbursement under limited warranty program	10 years
Beginning balance	$515	$123
Payment made during the period	-1
Changes in accrual related to warranties issued during the period	509	392
Changes in accrual related to pre-existing warranties	-62
Ending balance	961	515
Deferred Equity Issuance Costs
Deferred equity issuance costs	$3,178
Segment Information
Number of reporting unit	1
Number of segments	1

Summary_of_Significant_Account7

Summary of Significant Accounting Policies (Details 5) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net loss per share
Net loss									($5,811)	($19,125)	($23,433)
Weighted average common shares outstanding, basic and diluted									2,545,371	232,512	275,642
Net loss per share attributable to common stockholders	($0.34)	($6.94)	($1)	($4.59)	($14.85)	($31.45)	($22.65)	($14.85)	($2.28)	($82.25)	($85.01)
Potentially dilutive securities
Potentially dilutive securities									1,661,254	10,395,910	10,351,972
Stock options to purchase common stock
Potentially dilutive securities
Potentially dilutive securities									1,613,544	1,422,315	1,409,047
Warrants
Potentially dilutive securities
Potentially dilutive securities									47,710	30,670
Convertible preferred stock
Potentially dilutive securities
Potentially dilutive securities										8,942,925	8,942,925

Balance_Sheet_Components_Detai

Balance Sheet Components (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property and equipment, net
Property and equipment, gross	$1,176	$871
Less accumulated depreciation	-621	-617
Property and equipment, net	555	254
Depreciation expense	182	148	109
Leasehold improvements
Property and equipment, net
Property and equipment, gross	69	19
Computer equipment
Property and equipment, net
Property and equipment, gross	138	183
Software
Property and equipment, net
Property and equipment, gross	166	85
Office equipment
Property and equipment, net
Property and equipment, gross	167	128
Furniture and fixtures
Property and equipment, net
Property and equipment, gross	$636	$456

Balance_Sheet_Components_Detai1

Balance Sheet Components (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accrued and other current liabilities
Accrued clinical trial and research and development expenses	$109	$166
Audit, consulting and legal fees	72	124
Payroll and related expenses	2,497	1,890
Accrued commission	1,969	1,563
Warrant liability	420	90
Other	705	232
Total	$5,772	$4,065

Longterm_Debt_Details

Long-term Debt (Details) (USD $)	12 Months Ended		1 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2013	Jun. 30, 2014	Jan. 17, 2013	Jan. 31, 2014
Aggregate maturities of long-term debt
2015	$3,757
2016	11,094
2017	5,558
2018	4,223
2019	368
Warrants
Changes in the fair value of warrants	220	46
Term loan agreement
Long-term Debt
Face amount					15,000
Interest rate (as a percent)					8.40%
Additional lump sum payment					975
Term loan agreement \| Warrants
Warrants
Term of warrants			7 years
Minimum gross proceeds to calculate exercise price of warrants						10,000
Tranche A term loan
Long-term Debt
Face amount					7,500
Tranche A term loan \| Warrants
Warrants
Value of common stock that can be purchased as a percentage of term loan			3.00%
Tranche B term loan
Long-term Debt
Face amount					2,500
Tranche B term loan \| Warrants
Warrants
Value of common stock that can be purchased as a percentage of term loan			3.00%
Tranche C term loan
Long-term Debt
Face amount					5,000
Tranche C term loan \| Warrants
Warrants
Value of common stock that can be purchased as a percentage of term loan			3.00%
Share price (in dollars per share)						$14.67
Tranche D term loan
Long-term Debt
Face amount				10,000
Interest rate (as a percent)				8.40%
Additional lump sum payment				650
Threshold amount of gross proceeds in IPO to determine extended interest period of debt instruments				50,000
Tranche D term loan \| Warrants
Warrants
Term of warrants				7 years
Value of common stock that can be purchased as a percentage of term loan				2.50%

Acquisition_of_Silimed_Inc_Det

Acquisition of Silimed, Inc. (Details) (USD $)	12 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Apr. 04, 2007	16-May-13	Dec. 31, 2014
Acquisition of Silimed, Inc.
Deferred credit (negative goodwill)	$14,278			$14,278
Repurchase price	260
Silimed
Acquisition of Silimed, Inc.
Cash consideration		29,850
Common stock issued as consideration (in shares)		90,909
Contingent consideration		70,000
Deferred credit (negative goodwill)		-4,298
Release in other assets related to claims against acquiree recognized as additional cost of the asset acquisition	576
Silimed \| Grader Street founder
Acquisition of Silimed, Inc.
Cash consideration			18,000
Repurchase price			$260
Repurchased common shares (in shares)			72,727

Goodwill_and_Other_Intangible_2

Goodwill and Other Intangible Assets (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 04, 2007
	item	Dec. 31, 2013	Dec. 31, 2012	Apr. 04, 2007
Goodwill and intangible assets
Goodwill	$14,278	$14,278
Number of reporting unit	1
Other intangible assets
Less accumulated amortization	-1,599	-1,506
Intangible assets, net	114	207
Amortization expense	93	132	179
Remaining amortization period	3 years
Estimated amortization expense
2015	61
2016	37
2017	16
Intangible assets, net	114	207
Silimed
Goodwill and intangible assets
Goodwill				-4,298
Silimed \| Acquired FDA non-gel product approval
Other intangible assets
Intangible assets, gross	$1,713	$1,713

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes
Statutory federal income tax rate (as a percent)	34.00%
Reconciliation of actual income tax expense obtained by applying the statutory federal income tax rate
Tax at federal statutory rate	($1,976)	($6,502)	($7,967)
State, net of federal benefit	-260	-576	-774
Permanent items	580	339	255
Research and development credits	-216	-232	-186
Benefit state rate change	-941
Other	495	15	98
Change in valuation allowance	2,318	6,956	8,574
Deferred tax assets:
Net operating loss carryforwards	39,372	37,278
Research and development credits	2,230	2,014
Depreciation	36	31
Accruals and reserves	5,035	3,706
Intangibles	5,732	7,058
Gross deferred tax assets	52,405	50,087
Less valuation allowance	-52,405	-50,087
Federal
Operating loss carryforwards
Net operating loss carryforwards	101,172
California
Operating loss carryforwards
Net operating loss carryforwards	$91,474

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at beginning of the period	$671	$594
Additions based on tax positions taken in the current year	61	77
Balance at end of the period	732	671
Interest expense or penalties related to unrecognized tax benefits	0
Research and development
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at end of the period	732
Research and development \| Federal
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Tax credit carryforwards	1,799
Research and development \| California
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Tax credit carryforwards	$1,762

Stockholders_Equity_Deficit_De

Stockholders' Equity (Deficit) (Details) (USD $)	12 Months Ended		0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Nov. 03, 2014	Dec. 31, 2014
	item	Dec. 31, 2012	Nov. 03, 2014	Dec. 31, 2014
Stockholders' Equity (Deficit)
Number of series in convertible preferred stock	3
Stock other disclosures
Shares authorized			210,000,000
Common stock, shares authorized	30,200,000		200,000,000	200,000,000
Common stock, par value (in dollars per share)	$0.01		0.01	$0.01
Preferred stock, shares authorized			10,000,000	10,000,000
Preferred stock, par value (in dollars per share)			0.01	$0.01
Preferred stock, shares issued				0
Preferred stock, shares outstanding				0
Convertible preferred stock, par value (in dollars per share)	$0.01
Shares authorized	24,593,087
Outstanding (in shares)	24,593,087		0
Proceeds net of issuance costs		$64,553
Liquidation value	151,000
Common stock
Stock other disclosures
Shares issued on conversion of Series A, Series B and Series C preferred stock			8,942,925
Convertible preferred stock
Stock other disclosures
Conversion rate			2.75
Shares authorized	24,593,087
Outstanding (in shares)	24,593,087
Proceeds net of issuance costs	150,456
Liquidation value	151,000
Conversion Rights
Minimum percentage of the then outstanding shares of the convertible preferred stock under affirmative election event, as the threshold trigger of the automatic conversion of the convertible preferred stock	65.00%
Minimum percentage of the then outstanding shares of the convertible preferred stock under consent of holders event, as the threshold trigger of the automatic conversion of the convertible preferred stock	65.00%
Minimum percentage of the then outstanding shares of the convertible preferred stock under consent of holders event, including the consent of all stockholders holding in excess of 19% of the then outstanding shares of the preferred stock, as the threshold trigger of the automatic conversion of the convertible preferred stock	65.00%
Minimum percentage of the then outstanding shares of the preferred stock under consent of holders event, as the threshold trigger of the automatic conversion of the convertible preferred stock	19.00%
Series A preferred stock
Stock other disclosures
Shares authorized	1,000,000
Outstanding (in shares)	1,000,000
Proceeds net of issuance costs	994
Liquidation value	1,000
Liquidation preference (in dollars per share)	$1
Conversion Rights
Initial conversion price (in dollars per share)	$2.75
Series B preferred stock
Stock other disclosures
Shares authorized	11,409,397
Outstanding (in shares)	11,409,397
Proceeds net of issuance costs	84,909
Liquidation value	85,000
Liquidation preference (in dollars per share)	$7.45
Conversion Rights
Initial conversion price (in dollars per share)	$20.49
Series C preferred stock
Stock other disclosures
Shares authorized	12,183,690
Outstanding (in shares)	12,183,690
Proceeds net of issuance costs	64,553
Liquidation value	65,000
Liquidation preference (in dollars per share)	$5.34
Conversion Rights
Initial conversion price (in dollars per share)	$14.67
Common stock price, as minimum percentage of purchase price of convertible preferred stock, as the threshold trigger of the automatic conversion of the convertible preferred stock	200.00%
Minimum amount of proceeds raised from public offering, as the threshold trigger of the automatic conversion of the convertible preferred stock	$35,000

Stockholders_Equity_Deficit_De1

Stockholders' Equity (Deficit) (Details 2) (USD $)	12 Months Ended			1 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 30, 2007	Nov. 03, 2014
Additional information
Tax effected amount of gross unrealized net operating loss carryforwards	$39,372	$37,278
Stock options
Number of options
Balance at the beginning of period (in shares)	1,422,315	1,409,047
Options granted (in shares)	266,069	26,356
Options exercised (in shares)	-12,900	-3,025
Options forfeited (in shares)	-20,578	-10,063
Balance at the end of the period (in shares)	1,654,906	1,422,315	1,409,047
Number of options vested and expected to vest (in shares)	1,654,906
Number of options vested and exercisable (in shares)	1,245,505
Weighted average exercise price
Balance at the beginning of period (in dollars per share)	$2.67	$2.67
Options granted (in dollars per share)	$12.72	$3.80
Options exercised (in dollars per share)	$2.99	$3.41
Options forfeited (in dollars per share)	$5.55	$3.93
Balance at the end of period (in dollars per share)	$4.25	$2.67	$2.67
Weighted average exercise price, vested and expected to vest (in dollars per share)	$4.25
Weighted average exercise price, vested and exercisable (in dollars per share)	$2.54
Weighted average remaining contractual term	5 years 5 months 23 days	5 years 9 months 4 days
Weighted average remaining contractual term, vested and expected to vest	5 years 5 months 23 days
Weighted average remaining contractual term, vested and exercisable	4 years 5 months 1 day
Additional information
Weighted average grant date fair value (in dollars per share)	$6.82	$1.90
Stock-based compensation expense	560	342	357
Number of years from the date of grant after which tax benefits can be availed	2 years
Number of years from the date of exercise after which tax benefits can be availed	1 year
Unrecognized compensation costs (in dollars)	1,898	723
Weighted average period over which unrecognized compensation costs are expected to be recognized	2 years 10 months 2 days
Aggregate intrinsic value (in dollars)	$176	$1
Assumptions used to estimate the fair value of stock options
Expected term (in years)		6 years 29 days
Expected volatility, minimum (as a percent)	52.00%
Expected volatility, maximum (as a percent)	57.00%
Expected volatility (as a percent)		56.00%
Risk-free interest rate, minimum (as a percent)	1.71%	1.00%
Risk-free interest rate, maximum (as a percent)	2.00%	1.76%
Stock options \| Minimum
Assumptions used to estimate the fair value of stock options
Expected term (in years)	5 years 9 months 7 days
Stock options \| Maximum
Assumptions used to estimate the fair value of stock options
Expected term (in years)	6 years 29 days
2007 Plan
Stockholders' Equity (Deficit)
Common stock reserved for issuance (in shares)	1,631,922			1,690,448
Vesting period				4 years
Number of shares available for future grants	0
2007 Plan \| Minimum
Stockholders' Equity (Deficit)
Vesting percentage				25.00%
2007 Plan \| Maximum
Stockholders' Equity (Deficit)
Grant period of stock awards				10 years
2014 Plan
Stockholders' Equity (Deficit)
Common stock reserved for issuance (in shares)	1,027,500				1,027,500
Vesting period					4 years
Number of shares available for future grants	986,138
Expiration period					5 years
2014 Plan \| Minimum
Stockholders' Equity (Deficit)
Vesting percentage					25.00%
2014 Plan \| Maximum
Stockholders' Equity (Deficit)
Grant period of stock awards					10 years
Incentive stock options \| Minimum
Stockholders' Equity (Deficit)
Purchase price of awards expressed as a percentage of fair value of shares on the date of grant				100.00%	100.00%
Incentive stock options \| Minimum \| Shareholder owning more than 10% voting power
Stockholders' Equity (Deficit)
Purchase price of awards expressed as a percentage of fair value of shares on the date of grant				110.00%	110.00%
Percentage of voting power owned by shareholder				10.00%	10.00%

Stockholders_Equity_Deficit_De2

Stockholders' Equity (Deficit) (Details 3) (2014 Employee Stock Purchase Plan, USD $)	1 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Oct. 31, 2014	Dec. 31, 2014
Stockholders' Equity (Deficit)
Discount rate on the value of shares through payroll deductions (as a percent)	15.00%
Vesting period	27 months
Expiration period of each offering	6 months
Rate of purchase price of stock on fair value (as a percent)	85.00%
Purchases under the award		0
Number of shares available for future issuance		255,500
Stock-based compensation expense		$34
Assumptions used to estimate the fair value of stock options
Expected volatility, minimum (as a percent)		43.00%
Expected volatility, maximum (as a percent)		44.00%
Risk-free interest rate, minimum (as a percent)		0.08%
Risk-free interest rate, maximum (as a percent)		0.49%
Minimum
Assumptions used to estimate the fair value of stock options
Expected term (in years)		7 months 17 days
Maximum
Stockholders' Equity (Deficit)
Rate of increase in the number of shares available for grant every year on outstanding common stock (as a percent)	1.00%
Increase in the number of shares available for grant every year	3,000,000
Assumptions used to estimate the fair value of stock options
Expected term (in years)		2 years 1 month 21 days

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	0 Months Ended	1 Months Ended			12 Months Ended			0 Months Ended
In Thousands, unless otherwise specified	Dec. 10, 2013	Jun. 30, 2014	Mar. 31, 2014	Aug. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 03, 2013	Jun. 08, 2012	Mar. 27, 2012
	Dec. 10, 2013	Jun. 30, 2014	Mar. 31, 2014	Aug. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	item	item	item
Commitments and contingencies
Lease contract term			68 months	4 months
Lease renewal term	6 months	12 months
Operating Leases
Rent expense					$424	$359	$376
Future minimum lease payments
2015					500
2016					400
2017					403
2018					415
2019 and thereafter					499
Total					2,217
Contingencies
Contingent liabilities					0
Mentor litigation
Contingencies
Number of lawsuits filed									14	13
Number of employees against which lawsuits is filed										15
Number of lawsuits dismissed								13
Settlement payments received					$2,358	$351

Summary_of_Quarterly_Fincancia

Summary of Quarterly Fincancial Information (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Summary of Quarterly Financial Information (Unaudited)
Net sales	$12,116	$10,670	$11,719	$10,228	$9,250	$7,981	$9,479	$8,461	$44,733	$35,171	$10,447
Gross profit	8,903	7,838	8,838	7,654	7,010	6,013	7,070	6,486	33,233	26,579	8,095
Net loss	($3,197)	($1,452)	($209)	($953)	($3,075)	($6,475)	($5,463)	($4,112)	($5,811)	($19,125)	($23,433)
Net loss per share:
Basic and diluted	($0.34)	($6.94)	($1)	($4.59)	($14.85)	($31.45)	($22.65)	($14.85)	($2.28)	($82.25)	($85.01)

Schedule_II_Valuation_And_Qual1

Schedule II - Valuation And Qualifying Accounts (Details) (Allowance for sale returns, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for sale returns
Valuation and Qualifying Accounts
Balance at beginning of period	$8,270	$4,334	$95
Additions charged to costs and expenses	110,033	93,768	27,884
Deductions	-108,285	-89,832	-23,645
Balance at end of period	$10,018	$8,270	$4,334