Oxford Immunotec Global 10-Q 7 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 30, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Oxford Immunotec Global PLC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	17,562,266
Amendment Flag	'false	'
Entity Central Index Key	'0001586049	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$67,630	$76,494
Restricted cash	146	87
Accounts receivable, net	8,616	4,754
Inventory	6,381	5,450
Prepaid expenses and other	3,869	2,242
Total current assets	86,642	89,027
Restricted cash, non-current	246	362
Property and equipment, net	3,340	2,964
Intangible assets, net	341	331
Other assets	60	60
Total assets	90,629	92,744
Current liabilities:	'	'
Accounts payable	4,880	2,310
Accrued expenses	3,754	6,936
Deferred income	2,512	1,540
Current portion of loans payable	173	170
Taxes payable	1	177
Total current liabilities	11,320	11,133
Long-term portion of loans payable	519	563
Other liabilities	306	296
Total liabilities	12,145	11,992
Shareholders’ equity:	'	'
Ordinary shares, £0.006705 nominal value; 25,189,285 shares authorized at March 31, 2014 and December 31, 2013, 17,524,682 and 17,255,267 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	191	188
Additional paid-in capital	184,231	183,967
Accumulated deficit	-102,808	-99,655
Accumulated other comprehensive loss	-3,130	-3,748
Total shareholders’ equity	78,484	80,752
Total liabilities and shareholders’ equity	$90,629	$92,744

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (GBP £)	Mar. 31, 2014	Dec. 31, 2013
Ordinary shares, nominal value (in Pounds per share)	£ 0.006705	£ 0.006705
Ordinary shares, shares authorized	25,189,285	25,189,285
Ordinary shares, shares issued	17,524,682	17,255,267
Ordinary shares, shares outstanding	17,524,682	17,255,267

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenue	'	'
Product	$6,825	$4,121
Service	5,449	3,558
Total revenue	12,274	7,679
Cost of revenue	'	'
Product	3,041	2,057
Service	2,971	2,310
Total cost of revenue	6,012	4,367
Gross profit	6,262	3,312
Operating expenses:	'	'
Research and development	724	474
Sales and marketing	4,565	3,013
General and administrative	3,912	2,120
Total operating expenses	9,201	5,607
Loss from operations	-2,939	-2,295
Other (expense) income:	'	'
Interest expense, net	-35	-39
Foreign exchange (losses) gains	-145	953
Other (expense) income	-2	190
Loss before income taxes	-3,121	-1,191
Income tax expense	32	10
Net loss	($3,153)	($1,201)
Net loss per share attributable to ordinary shareholders—basic and diluted (in Dollars per share)	($0.18)	($0.56)
Weighted-average shares used to compute net loss attributable to ordinary shareholders—basic and diluted (in Shares)	17,264,135	2,154,285

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Other Comprehensive Loss (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net loss	($3,153)	($1,201)
Other comprehensive income (loss), net of taxes:	'	'
Foreign currency translation adjustment, net of taxes	618	-1,093
Other comprehensive income (loss), net of taxes	618	-1,093
Total comprehensive loss	($2,535)	($2,294)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities	'	'
Net loss	($3,153)	($1,201)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	351	295
Share-based compensation expense	265	12
Loss on change in fair value of warrants	10	'
Changes in operating assets and liabilities:	'	'
Accounts receivable, net	-3,828	-233
Inventory	-512	-41
Prepaid expenses and other	-1,605	-874
Accounts payable	2,282	606
Accrued expenses	-3,240	-1,288
Deferred income	955	-1
Net cash used in operating activities	-8,475	-2,725
Cash flows from investing activities	'	'
Purchases of property and equipment	-581	-252
Purchases of intangible assets	-17	'
Decrease in restricted cash	57	153
Net cash used in investing activities	-541	-99
Cash flows from financing activities	'	'
Proceeds from issuance of preferred ordinary shares	'	2,933
Proceeds from exercise of share options and warrants	1	8
Payments on loan	-42	-21
Net cash (used in) provided by financing activities	-41	2,920
Effect of exchange rate changes on cash and cash equivalents	193	-1,049
Net decrease in cash and cash equivalents, excluding restricted cash	-8,864	-953
Cash and cash equivalents at beginning of period	76,494	12,578
Cash and cash equivalents at end of period	$67,630	$11,625

Note_1_Business_and_Basis_of_P

Note 1 - Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	1. Business and basis of presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the interim consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the financial position at March 31, 2014, the results of operations for the three month periods ended March 31, 2014 and 2013, and the cash flows for the three month periods ended March 31, 2014 and 2013. Interim results are not necessarily indicative of results for a full year.
	The consolidated balance sheet presented as of December 31, 2013, has been derived from the audited consolidated financial statements as of that date. The consolidated financial statements and notes included in this report should be read in conjunction with the 2013 consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on March 27, 2014, or the Company’s 2013 Form 10-K.
	Note 1 to the consolidated financial statements included in the Company’s 2013 Form 10-K describes the significant accounting estimates and policies used in preparation of the consolidated financial statements. There have been no material changes in the Company’s significant accounting policies during the three months ended March 31, 2014. The accounting for restricted shares, which were issued by the Company for the first time during the three months ended March 31, 2014, is described in note 6.
	Description of business
	The Company is a global, commercial-stage diagnostics company committed to improving patient care by providing advanced, innovative tests in the field of immunology. The Company’s proprietary T-SPOT technology platform allows it to measure the responses of specific immune cells (T cells) to inform the diagnosis, prognosis and monitoring of patients with immunologically controlled diseases. Substantially all of the Company’s revenue is currently derived from the sale of its T-SPOT.TB test, which is sold in two formats: an in vitro diagnostic kit format (allowing customers to perform the test at their own institutions), and a service format (in which the Company performs the test on samples sent by customers to the Company’s own laboratory facilities). The Company sells its T-SPOT.TB test through a direct sales force in the United States, certain European countries and Japan. The Company sells through distributors in other parts of the world.
	Recent accounting pronouncements
	The Company has considered recent accounting pronouncements and concluded that they are either not applicable to the business, or that no material effect is expected on the consolidated financial statements as a result of future adoption.

Note_2_Fair_Value_Measurement

Note 2 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	2. Fair value measurement
	As a basis for determining the fair value of certain of the Company’s financial instruments, the Company utilizes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
	Level I—Observable inputs such as quoted prices in active markets for identical assets or liabilities.
	Level II—Observable inputs, other than Level I prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level III—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying amount of certain of the Company’s financial instruments, including cash, accounts receivable, prepaid expenses and other assets, accounts payable, and accrued expenses approximate fair value due to their short maturities.
	The Company’s financial instruments that are measured at fair value on a recurring basis consist only of an ordinary share warrant liability. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the entire fair value measurement requires management to make judgments and consider factors specific to the asset or liability.
	The following table presents information about the warrant liability that was measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques it utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.
				Fair value measurements at March 31, 2014 using
	(in thousands)	March 31,		Quoted prices in active markets for identical assets		Significant		Significant
		2014		(Level 1)		other		unobservable
						observable		inputs
						inputs		(Level 3)
						(Level 2)
	Liabilities:
	Ordinary share warrants	$	306	$	—	$	—	$	306
	Total	$	306	$	—	$	—	$	306
				Fair value measurements at December 31, 2013 using
	(in thousands)	December 31,		Quoted prices in active markets for identical assets		Significant		Significant
		2013		(Level 1)		other		unobservable
						observable		inputs
						inputs		(Level 3)
						(Level 2)
	Liabilities:
	Ordinary share warrants	$	296	$	—	$	—	$	296
	Total	$	296	$	—	$	—	$	296
	In May 2013, the Company entered into a loan and security agreement with a commercial bank that provided for an initial borrowing of $6.0 million and, subject to the achievement of certain revenue milestones, the ability to borrow an additional $1.0 million in January 2014. The Company also received access to a $5.0 million revolving line of credit. The Company concurrently issued a warrant to purchase up to 15,791 ordinary shares of the Company at an exercise price of $0.80 per share. Due to the lack of market quotes relating to the Company’s ordinary share warrants, the fair value of the warrants was determined at March 31, 2014 using the Black-Scholes model, which is based on Level 3 inputs. As of March 31, 2014, inputs used in the Black-Scholes model include the Company’s share price as of that date of $20.07, exercise price of $0.80 per ordinary share, expected volatility of 48.2%, risk free interest rate of 2.73%, remaining expected term of approximately 9.2 years, and no dividends. The assumptions used may change as the underlying sources of these assumptions and market conditions change. Based on this calculation, the Company recorded other non-operating expense of $10,000 during the three months ended March 31, 2014, resulting in a warrant liability of $306,000 at March 31, 2014. In December 2013, the Company repaid the loan in full and cancelled the line of credit.
	The following table provides a summary of changes in the fair value of the Company's Level 3 financial liabilities for the three months ended March 31, 2014 (in thousands):
	Balance – beginning	$	296
	Change in fair value of warrant liability		10
	Balance at March 31, 2014	$	306

Note_3_Accounts_Receivable

Note 3 - Accounts Receivable	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Financing Receivables [Text Block]	'
	3. Accounts receivable
	Accounts receivable, net, consisted of the following as of:
	(in thousands)	31-Mar-14			31-Dec-13
	Accounts receivable	$	8,780		$	4,919
	Less allowance for uncollectible accounts receivable		(164	)		(165	)
	Accounts receivable, net	$	8,616		$	4,754

Note_4_Inventory

Note 4 - Inventory	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	4. Inventory
	Inventory consisted of the following as of:
	(in thousands)	31-Mar-14		31-Dec-13
	Raw materials	$	2,687	$	2,866
	Finished goods		3,694		2,584
	Inventory, net	$	6,381	$	5,450

Note_5_Accrued_Expenses

Note 5 - Accrued Expenses	3 Months Ended
	Mar. 31, 2014
Payables and Accruals [Abstract]	'
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	'
	5. Accrued expenses
	Accrued expenses consisted of the following as of:
	(in thousands)	31-Mar-14		31-Dec-13
	Employee related expenses	$	1,972	$	2,766
	Professional services		474		99
	Royalties		411		2,064
	Rent		394		366
	Inventory		78		293
	Accrued initial public offering costs		—		845
	Other accrued expenses		425		503
	Total accrued expenses	$	3,754	$	6,936

Note_6_Share_Option_and_Equity

Note 6 - Share Option and Equity Incentive Plans	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	6. Share option and equity incentive plan
	Expense recognized related to share-based compensation was as follows:
		Three months ended March 31,
	(in thousands)	2014		2013
	Cost of revenue	$	11	$	1
	General and administrative		159		11
	Research and development		6		—
	Sales and marketing		89		—
	Total share-based compensation	$	265	$	12
	In November 2013, in connection with the Company’s initial public offering, the Company adopted the 2013 Plan, which provides for the grant of share options, restricted shares, RSUs and other share-based awards to employees, officers, directors and consultants of the Company. During the three month period ended March 31, 2014, the Company granted to certain employees 370,895 share options with exercise prices ranging from $21.16 to $22.99 per share under the 2013 Plan. The weighted-average grant date fair value related to share options granted under the 2013 Plan during the three month period ended March 31, 2014 was $10.97 per share. Share options generally vest based on the grantee’s continued service with the Company during a specified period following grant or, in rare instances, based on the achievement of performance or other conditions as determined by the Board of Directors, and expire after ten years. During the three month period ended March 31, 2014, the Company also awarded certain employees 254,700 restricted shares with a grant date fair value equal to $22.99 per share under the 2013 Plan. The restricted shares vest based on the grantee’s continued service with the Company during a specified period following grant as follows: 40% on the second anniversary of the grant date; 30% on the third anniversary of the grant date; and 30% on the fourth anniversary of the grant date. Share-based compensation expense for these restricted shares is calculated based on the grant date market price of the shares and is being recognized over the vesting period.
	For the three month period ended March 31, 2014, the Company incurred shared-based compensation expense related to share options and restricted shares of approximately $177,000 and $88,000, respectively. For the three month period ended March 31, 2013, the Company incurred shared-based compensation expense related to share options of approximately $8,000. As of March 31, 2014, there was $4.6 million and $5.5 million of total unrecognized compensation cost related to unvested share options and restricted shares, respectively. Those costs are expected to be recognized over a weighted-average period of 2.1 years for share options and 3.9 years for restricted shares.

Note_7_Share_Capital

Note 7 - Share Capital	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	7. Share capital
	In the first quarter of 2014, the Company issued 254,700 restricted shares, as discussed in note 6. In addition, 11,033 ordinary shares were issued upon the exercise of options and 3,682 ordinary shares were issued upon the exercise of a warrant. As of March 31, 2014, there were 25,189,285 ordinary shares authorized and 17,524,682 ordinary shares issued and outstanding.

Note_8_Net_Loss_per_Share

Note 8 - Net Loss per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	8. Net loss per share
	The following numbers of outstanding ordinary share options, ordinary share warrants and preferred ordinary shares (on an “as converted to ordinary shares” basis) were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive:
		Three months ended March 31,
		2014		2013
	Options to purchase ordinary shares		1,245,151		291,927
	Ordinary share warrant		15,791		3,682
	Preferred ordinary shares (as converted)		—		8,279,633
	Unvested restricted shares		254,700		—

Note_2_Fair_Value_Measurement_

Note 2 - Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	'
				Fair value measurements at March 31, 2014 using
	(in thousands)	March 31,		Quoted prices in active markets for identical assets		Significant		Significant
		2014		(Level 1)		other		unobservable
						observable		inputs
						inputs		(Level 3)
						(Level 2)
	Liabilities:
	Ordinary share warrants	$	306	$	—	$	—	$	306
	Total	$	306	$	—	$	—	$	306
				Fair value measurements at December 31, 2013 using
	(in thousands)	December 31,		Quoted prices in active markets for identical assets		Significant		Significant
		2013		(Level 1)		other		unobservable
						observable		inputs
						inputs		(Level 3)
						(Level 2)
	Liabilities:
	Ordinary share warrants	$	296	$	—	$	—	$	296
	Total	$	296	$	—	$	—	$	296
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	Balance – beginning	$	296
	Change in fair value of warrant liability		10
	Balance at March 31, 2014	$	306

Note_3_Accounts_Receivable_Tab

Note 3 - Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
	(in thousands)	31-Mar-14			31-Dec-13
	Accounts receivable	$	8,780		$	4,919
	Less allowance for uncollectible accounts receivable		(164	)		(165	)
	Accounts receivable, net	$	8,616		$	4,754

Note_4_Inventory_Tables

Note 4 - Inventory (Tables)	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	(in thousands)	31-Mar-14		31-Dec-13
	Raw materials	$	2,687	$	2,866
	Finished goods		3,694		2,584
	Inventory, net	$	6,381	$	5,450

Note_5_Accrued_Expenses_Tables

Note 5 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2014
Payables and Accruals [Abstract]	'
Schedule of Accrued Liabilities [Table Text Block]	'
	(in thousands)	31-Mar-14		31-Dec-13
	Employee related expenses	$	1,972	$	2,766
	Professional services		474		99
	Royalties		411		2,064
	Rent		394		366
	Inventory		78		293
	Accrued initial public offering costs		—		845
	Other accrued expenses		425		503
	Total accrued expenses	$	3,754	$	6,936

Note_6_Share_Option_and_Equity1

Note 6 - Share Option and Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	'
		Three months ended March 31,
	(in thousands)	2014		2013
	Cost of revenue	$	11	$	1
	General and administrative		159		11
	Research and development		6		—
	Sales and marketing		89		—
	Total share-based compensation	$	265	$	12

Note_8_Net_Loss_per_Share_Tabl

Note 8 - Net Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	'
		Three months ended March 31,
		2014		2013
	Options to purchase ordinary shares		1,245,151		291,927
	Ordinary share warrant		15,791		3,682
	Preferred ordinary shares (as converted)		—		8,279,633
	Unvested restricted shares		254,700		—

Note_2_Fair_Value_Measurement_1

Note 2 - Fair Value Measurement (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	31-May-13
Note 2 - Fair Value Measurement (Details) [Line Items]	'	'	'
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares)	'	'	15,791
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item)	'	'	0.8
Share Price (in Dollars per share)	$20.07	'	'
Fair Value Assumptions, Exercise Price (in Dollars per share)	$0.80	'	'
Fair Value Assumptions, Expected Volatility Rate	48.20%	'	'
Fair Value Assumptions, Risk Free Interest Rate	2.73%	'	'
Fair Value Assumptions, Expected Term	'9 years 73 days	'	'
Fair Value Assumptions, Expected Dividend Payments (in Dollars per share)	$0	'	'
Fair Value Adjustment of Warrants	$10,000	'	'
Derivative Liability, Noncurrent	306,000	296,000	'
Loan Agreement with Commercial Bank [Member]	'	'	'
Note 2 - Fair Value Measurement (Details) [Line Items]	'	'	'
Debt Instrument, Face Amount	'	'	6,000,000
Debt Instrument, Additional Borrowing Amount If Certain Revenue Milestones Are Met	'	'	1,000,000
Revolving Credit Facility [Member]	'	'	'
Note 2 - Fair Value Measurement (Details) [Line Items]	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	'	'	5,000,000
Ordinary Share Warrants [Member]	'	'	'
Note 2 - Fair Value Measurement (Details) [Line Items]	'	'	'
Fair Value Adjustment of Warrants	10,000	'	'
Derivative Liability, Noncurrent	$306,000	$296,000	'

Note_2_Fair_Value_Measurement_2

Note 2 - Fair Value Measurement (Details) - Warrant Liability (USD $)	Mar. 31, 2014	Dec. 31, 2013
Note 2 - Fair Value Measurement (Details) - Warrant Liability [Line Items]	'	'
Ordinary share warrants	$306,000	$296,000
Total	306,000	296,000
Fair Value, Inputs, Level 3 [Member]	'	'
Note 2 - Fair Value Measurement (Details) - Warrant Liability [Line Items]	'	'
Total	306,000	296,000
Ordinary Share Warrants [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 2 - Fair Value Measurement (Details) - Warrant Liability [Line Items]	'	'
Ordinary share warrants	306,000	296,000
Ordinary Share Warrants [Member]	'	'
Note 2 - Fair Value Measurement (Details) - Warrant Liability [Line Items]	'	'
Ordinary share warrants	$306,000	$296,000

Note_2_Fair_Value_Measurement_3

Note 2 - Fair Value Measurement (Details) - Changes in the Fair Value of the Company's Level 3 Financial Liabilities (USD $)	3 Months Ended
	Mar. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Balance – beginning	$296,000
Change in fair value of warrant liability	10,000
Balance at March 31, 2014	306,000
Ordinary Share Warrants [Member]	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Balance – beginning	296,000
Change in fair value of warrant liability	10,000
Balance at March 31, 2014	$306,000

Note_3_Accounts_Receivable_Det

Note 3 - Accounts Receivable (Details) - Accounts Receivable, Net (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accounts Receivable, Net [Abstract]	'	'
Accounts receivable	$8,780	$4,919
Less allowance for uncollectible accounts receivable	-164	-165
Accounts receivable, net	$8,616	$4,754

Note_4_Inventory_Details_Inven

Note 4 - Inventory (Details) - Inventory (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory [Abstract]	'	'
Raw materials	$2,687	$2,866
Finished goods	3,694	2,584
Inventory, net	$6,381	$5,450

Note_5_Accrued_Expenses_Detail

Note 5 - Accrued Expenses (Details) - Accrued Expenses (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accrued Expenses [Abstract]	'	'
Employee related expenses	$1,972	$2,766
Professional services	474	99
Royalties	411	2,064
Rent	394	366
Inventory	78	293
Accrued initial public offering costs	'	845
Other accrued expenses	425	503
Total accrued expenses	$3,754	$6,936

Note_6_Share_Option_and_Equity2

Note 6 - Share Option and Equity Incentive Plans (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Allocated Share-based Compensation Expense	$265,000	$12,000
Employee Stock Option [Member] | The 2013 Plan [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	'10 years	'
Employee Stock Option [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Allocated Share-based Compensation Expense	177,000	8,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	4,600,000	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'2 years 36 days	'
Restricted Stock [Member] | The 2013 Plan [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares)	254,700	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)	$22.99	'
Restricted Stock [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Allocated Share-based Compensation Expense	88,000	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$5,500,000	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'3 years 328 days	'
The 2013 Plan [Member] | Second Anniversary of Grant Date [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	40.00%	'
The 2013 Plan [Member] | Third Anniversary of Grant Date [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	30.00%	'
The 2013 Plan [Member] | Fourth Anniversary of Grant Date [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	30.00%	'
The 2013 Plan [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	370,895	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)	$10.97	'
The 2013 Plan [Member] | Minimum [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share)	$21.16	'
The 2013 Plan [Member] | Maximum [Member]	'	'
Note 6 - Share Option and Equity Incentive Plans (Details) [Line Items]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share)	$22.99	'

Note_6_Share_Option_and_Equity3

Note 6 - Share Option and Equity Incentive Plans (Details) - Expense Recognized Related to Share-based Compensation (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	$265,000	$12,000
Cost of Sales [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	11,000	1,000
General and Administrative Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	159,000	11,000
Research and Development Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	6,000	'
Selling and Marketing Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Share-based compensation	$89,000	'

Note_7_Share_Capital_Details

Note 7 - Share Capital (Details)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Note 7 - Share Capital (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	11,033	'
Stock Issued During Period, Shares, Warrant Exercised	3,682	'
Common Stock, Shares Authorized	25,189,285	25,189,285
Common Stock, Shares, Issued	17,524,682	17,255,267
Common Stock, Shares, Outstanding	17,524,682	17,255,267
Restricted Stock [Member] | The 2013 Plan [Member]	'	'
Note 7 - Share Capital (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	254,700	'

Note_8_Net_Loss_per_Share_Deta

Note 8 - Net Loss per Share (Details) - Antidilutive Securities	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Equity Option [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	1,245,151	291,927
Warrant [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	15,791	3,682
Convertible Preferred Ordinary Shares [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	'	8,279,633
Restricted Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	254,700	'