Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 |
Accounting Policies [Abstract] | |
Discontinued Operations, Policy [Policy Text Block] | Discontinued operations The Company reports the results of operations of a business that either has been disposed of or is classified as held for sale, in accordance with Accounting Standards Codification, or ASC, 360, Property, Plant, and Equipment 205, Presentation of Financial Statements As discussed in Note 19, Discontinued operations September 25, 2018, November 6, 2018. |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation, accounting principles and principles of consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, or U.S. GAAP, and include the financial statements of Oxford Immunotec Global PLC, a company incorporated in England and Wales and its wholly-owned subsidiaries, collectively referred to as the Company. All intercompany accounts and transactions have been eliminated upon consolidation. |
Segment Reporting, Policy [Policy Text Block] | Segment reporting The Company operates in one |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and that affect the reported amounts of revenue and expenditures during the reporting periods. Actual results could differ from those estimates and assumptions used. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign currency translation The functional currency for Oxford Immunotec Global PLC is the U.S. Dollar. The functional currency for the Company’s operating subsidiaries are the Pound Sterling for Oxford Immunotec Limited, the U.S. Dollar for Oxford Immunotec USA, Inc., Oxford Immunotec Inc. and Immunetics, Inc., or Immunetics, the Yen for Oxford Immunotec K.K., the Yuan for Oxford Immunotec (Shanghai) Medical Device Co. Ltd., the Euro for Boulder Diagnostics Europe GmbH and the Hong Kong Dollar for Oxford Immunotec Asia Limited. Revenue and expenses of foreign operations are translated into U.S. Dollars at the average rates of exchange during the year. Assets and liabilities of foreign operations are translated into U.S. Dollars at year-end rates. The Company reflects resulting foreign currency translation adjustments in accumulated other comprehensive income, which is a component of shareholders’ equity. Realized and unrealized foreign currency transaction gains or losses, arising from exchange rate fluctuations on balances denominated in currencies other than the functional currencies, are included in “Other income (expense)” in the consolidated statements of operations unless the unrealized foreign currency transaction gains or losses relate to intercompany transactions of a long-term investment nature, then they are included in other comprehensive income. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of risks In the year ended December 31, 2018, two 10% March 27% 19% |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents and restricted cash The Company considers all highly liquid investments purchased with maturities at acquisition of three not Restricted cash relates to collateral for procurement cards issued by a U.S. commercial bank. Cash, cash equivalents, and restricted cash consists of the following: Year ended December 31, (in thousands) 2018 2017 2016 Cash and cash equivalents $ 192,844 $ 90,332 $ 59,110 Restricted cash, non-current 100 200 200 Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 192,944 $ 90,532 $ 59,310 |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Accounts receivable Accounts receivable are primarily amounts due from customers including hospitals, public health departments, commercial testing laboratories, distributors and universities in addition to government programs. Accounts receivable are reported net of an allowance for uncollectible accounts. The process of estimating the collection of accounts receivable involves significant assumptions and judgments. Specifically, the accounts receivable allowance is based on management’s analysis of current and past due accounts, collection experience and other relevant information. The Company’s provision for uncollectible accounts is recorded as a bad debt expense and included in general and administrative expenses. Account balances are written-off against the allowance when it is probable that the receivable will not |
Inventory, Policy [Policy Text Block] | Inventory Inventory consists of raw materials, work in progress and finished goods. The Company does not not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment Property and equipment are stated at cost. Property and equipment financed under capital leases are initially recorded at the present value of minimum lease payments at the inception of the lease. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Property and equipment under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset. Depreciable lives range from three ten three |
Revenue Recognition, Policy [Policy Text Block] | Revenue recognition The Company’s revenues include product and service revenues. Product revenue from diagnostic test kit sales and related accessories is recognized at a point in time based upon contractual rates. Service revenue is recorded based upon contractually established billing rates and recognized upon delivery of test results to the customer. See Note 2 As of December 31, 2018, $9.2 December 31, 2018, no no December 31, 2018. one Revenue expected to be recognized in any future year related to remaining performance obligations is not Taxes assessed by governmental authorities on revenue, including sales and value added taxes, are recorded on a net basis (excluded from revenue) in the consolidated statements of operations. |
Cost of Sales, Policy [Policy Text Block] | Cost of revenue: cost of product and cost of service Cost of product revenue consists primarily of costs incurred in the production process, including costs of raw materials and components, assembly labor and overhead, quality management, royalties paid under licensing agreements and packaging and delivery costs. Cost of service revenue consists primarily of costs incurred in the operation of the Company’s diagnostic laboratory including labor and overhead, kit costs, quality management, consumables used in the testing process and packaging and delivery costs. |
Cost of Goods and Severice Sold, Shipping and Handling, Policy [Policy Text Block] | Shipping and handling The Company generally bills product customers for shipping and handling and records the customer payments as product revenue. The associated costs are recorded as cost of product sold. The Company does not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of long-lived assets The Company’s long-lived assets, including fixed assets and intangible assets which have a definite life, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may may |
Business Combinations Policy [Policy Text Block] | Business combinations For acquisitions meeting the definition of a business combination, the Company allocates the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. When determining the fair value of tangible assets acquired, the Company estimates the cost using the most appropriate valuation method with assistance from independent third third |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill and indefinite-lived intangible assets Goodwill Goodwill is not fourth may no two first not 50% first not not may not Indefinite-lived intangible assets Indefinite-lived intangible assets are reviewed for impairment at least annually, or when events or changes in the business environment indicate the carrying value may first not 50% first not not may not The determinations as to whether, and, if so, the extent to which, indefinite-lived intangible assets become impaired are highly judgmental and based on significant assumptions regarding the projected future financial condition and operating results, changes in the manner of the use and development of the acquired assets, the Company’s overall business strategy, and regulatory, market and economic environment and trends. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Definite-lived intangible assets Intangible assets include technology licenses which are capitalized and amortized over estimated useful lives (generally in the range of five twenty |
Derivatives, Policy [Policy Text Block] | Derivative financial instruments The Company does not The Company reviews the terms of the shares it issues to determine whether there are embedded derivative instruments, including embedded conversion options, which are required to be bifurcated and accounted for separately as derivative financial instruments. In circumstances where the host instrument contains more than one Bifurcated embedded derivatives are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as other income or expense. When equity instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds received are first |
Fair Value Measurement, Policy [Policy Text Block] | Fair value of financial instruments The Company measures certain financial assets and liabilities at fair value based on the price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. As of December 31, 2018 2017, 3. Fair value measurement |
Research and Development Expense, Policy [Policy Text Block] | Research and development expenses Research and development expenses include all costs associated with the development of the Company’s technology platforms and potential future products including new diagnostic tests that utilize the Company’s technology platforms and are charged to expense as incurred. Research and development expenses include direct costs and an allocation of indirect costs, including amortization, depreciation, rent, supplies, insurance and repairs and maintenance. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-based compensation The Company accounts for share-based compensation arrangements with employees, officers and directors by recognizing compensation expense based on the grant date fair value of share-based transactions in the consolidated financial statements. Share-based compensation for options is based on the fair value of the underlying option calculated using the Black-Scholes option-pricing model on the date of grant for share options and recognized as expense on a straight-line basis over the requisite service period. Determining the appropriate fair value model and related assumptions requires judgment, including estimating share price volatility, expected term and forfeiture rates. The expected volatility rates are estimated based on the Company’s actual volatility and the actual volatility of comparable public companies over a historical period equal in length to the expected term. The expected terms represent the average time that options are expected to be outstanding based on the midpoint between the vesting date and the end of the contractual term of the award. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has not not Certain employees have been granted restricted share units, or RSUs, and restricted shares. The fair value of RSUs and restricted shares are calculated based on the closing sale price of the Company’s ordinary shares on the date of grant. The cumulative expense recognized for share-based transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company’s best estimate of the number of equity instruments that will ultimately vest. The charge or credit for a period represents the movement in cumulative expense recognized as of the beginning and end of that period. No not Where the terms of an equity award are modified, the minimum expense recognized is the expense as if the terms had not Where a share-based compensation award is cancelled, it is treated as if it had vested on the date of cancellation, and any expense not Upon exercise, share options are redeemed for newly issued ordinary shares. |
Income Tax, Policy [Policy Text Block] | Income taxes The Company accounts for income taxes under the asset and liability method, which requires, among other things, that deferred income taxes be provided for temporary differences between the tax basis of the Company’s assets and liabilities and its financial statement reported amounts. In addition, deferred tax assets are recorded for the future benefit of utilizing net operating losses and research and development credit carryforwards. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company adheres to the accounting guidance for uncertainties in income taxes, which prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken, or expected to be taken, in a tax return. The Company accrues for the estimated amount of taxes for uncertain tax positions if it is more likely than not not 50% |
Earnings Per Share, Policy [Policy Text Block] | Basic and diluted net income (loss) per ordinary share Basic income (loss) per ordinary share are calculated by dividing the net income (loss) by the weighted-average number of ordinary shares outstanding during the period. Diluted income per ordinary share is calculated by dividing net income by the weighted-average number of ordinary shares outstanding during the period plus the dilutive effect of outstanding instruments such as share options, RSUs and restricted shares. Diluted loss per ordinary share is the same as basic loss per ordinary share, as the effect of utilizing the fully diluted share count including share options, RSUs and restricted shares would reduce the net loss per ordinary share. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09, 2014 09, 2014 09 2014 09 January 1, 2018, 2014 09 not December 31, 2018. 2014 09 2. Revenue In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15. 2016 15 2016 15 January 1, 2018. 2016 15 not In October 2016, 2016 16, Income Taxes 2016 16. 2016 16 January 1, 2018. 2016 16 not In November 2016, 2016 18, Statement of Cash Flows (Topic 230 2016 18. 2016 18 2016 18 January 1, 2018. 2016 18 not In January 2017, 2017 01, Business Combinations 2017 01. 2017 01 2017 01 January 1, 2018. 2017 01 not In May 2017, 2017 09, Scope of Modification Accounting 2017 09. 2017 09 2017 09 January 1, 2018. 2017 09 not Recently Issued Accounting Pronouncements In February 2016, 2016 02, Leases 2016 02. 2016 02 12 2016 02 2016 02, January 1, 2019 2016 02, 12 not 2016 02, $7.7 $8.6 no first 2019, In June 2016, 2016 13, Financial Instruments-Credit Losses 2016 13. 2016 13 2016 13, December 15, 2019. December 15, 2018. not 2016 13 In January 2017, 2017 04, Intangibles – Goodwill and Other 2017 04. 2017 04 2 2017 04 December 15, 2019. 2017 04. In June 2018, 2018 07, Improvements to Nonemployee Share-Based Payment Accounting 2018 07. 2018 07 2018 07 December 15, 2018, 2018 07. |