Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 20, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Nuvectra Corp | ||
Entity Central Index Key | 1,648,893 | ||
Trading Symbol | nvtr | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | true | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Ex Transition Period | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 17,699,519 | ||
Entity Public Float | $ 283.2 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 99,240 | $ 28,165 |
Trade accounts receivable, net of allowance for doubtful accounts of $691 and $414 in 2018 and 2017, respectively | 12,324 | 9,920 |
Inventories | 6,627 | 4,978 |
Prepaid expenses and other current assets | 1,117 | 995 |
Current assets of discontinued operations | 971 | |
Total current assets | 119,308 | 45,029 |
Property, plant and equipment, net | 5,213 | 5,900 |
Goodwill | 33,491 | 33,491 |
Other long-term assets | 245 | |
Noncurrent assets of discontinued operations | 6,438 | |
Total assets | 158,012 | 91,103 |
Current liabilities: | ||
Accounts payable | 7,950 | 2,043 |
Accrued liabilities | 5,736 | 8,563 |
Accrued compensation | 6,858 | 4,278 |
Short-term debt | 789 | |
Current liabilities of discontinued operations | 378 | |
Total current liabilities | 20,544 | 16,051 |
Other long-term liabilities | 490 | 993 |
Long-term debt, net | 44,082 | 25,886 |
Total liabilities | 65,116 | 42,930 |
Commitments and contingencies (Note 10) | ||
Stockholders’ equity: | ||
Common stock, $0.001 par value, 100,000,000 shares authorized; 17,689,928 and 10,849,385 shares issued and outstanding in 2018 and 2017, respectively | 18 | 11 |
Additional paid-in capital | 218,844 | 125,999 |
Accumulated other comprehensive gain (loss) | 1 | (1) |
Accumulated deficit | (125,967) | (77,836) |
Total stockholders’ equity | 92,896 | 48,173 |
Total liabilities and stockholders’ equity | $ 158,012 | $ 91,103 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Trade accounts receivable, allowance for doubtful accounts | $ 691 | $ 414 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 17,689,928 | 10,849,385 |
Common stock, shares outstanding (in shares) | 17,689,928 | 10,849,385 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Sales: | ||
Sales | $ 48,831 | $ 27,080 |
Cost of sales: | ||
Cost of sales | 22,997 | 14,427 |
Gross profit | 25,834 | 12,653 |
Operating expenses: | ||
Selling, general and administrative expenses | 54,423 | 42,744 |
Research, development and engineering costs, net | 14,599 | 12,140 |
Total operating expenses | 69,022 | 54,884 |
Operating loss | (43,188) | (42,231) |
Interest expense, net | 3,588 | 1,959 |
Other expense, net | 390 | 604 |
Loss from continuing operations before taxes | (47,166) | (44,794) |
Benefit for income taxes | (21) | (58) |
Loss from continuing operations | (47,145) | (44,736) |
Discontinued operations: | ||
(Loss) income from operations of discontinued operations | (932) | 219 |
Provision for income taxes | 54 | 83 |
(Loss) income from discontinued operations | (986) | 136 |
Net loss | (48,131) | (44,600) |
Other comprehensive gain: | ||
Unrealized holding gain on investments arising during period | 2 | 1 |
Other comprehensive gain | 2 | 1 |
Comprehensive loss | $ (48,129) | $ (44,599) |
Basic and diluted net loss per share: | ||
Loss from continuing operations (in dollars per share) | $ (3.19) | $ (4.23) |
(Loss) income from discontinued operations (in dollars per share) | (0.06) | 0.01 |
Basic and diluted net loss per share (in dollars per share) | $ (3.25) | $ (4.22) |
Basic and diluted weighted average shares outstanding (in shares) | 14,801 | 10,576 |
Product [Member] | ||
Sales: | ||
Sales | $ 47,149 | $ 25,567 |
Cost of sales: | ||
Cost of sales | 21,640 | 13,530 |
Service [Member] | ||
Sales: | ||
Sales | 1,682 | 1,513 |
Cost of sales: | ||
Cost of sales | $ 1,357 | $ 897 |
Consolidated Cash Flow Statemen
Consolidated Cash Flow Statements - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (48,131) | $ (44,600) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Provision for uncollectible accounts | 341 | 407 |
Write-downs of excess and obsolete inventories | 671 | 417 |
Depreciation and amortization | 1,845 | 1,615 |
Goodwill impairment | 1,261 | 0 |
Debt related amortization included in interest expense | 1,096 | 759 |
Stock-based compensation | 3,044 | 2,315 |
Loss on disposal of discontinued operations | 313 | |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | (1,790) | (8,105) |
Inventories | (2,320) | (162) |
Prepaid expenses and other current assets | (137) | (568) |
Accounts payable and other current liabilities | 2,641 | (2,412) |
Accrued compensation | 2,466 | 1,635 |
Other long-term liabilities | 9 | 502 |
Net cash used in operating activities | (38,691) | (48,197) |
Cash flows from investing activities: | ||
Net proceeds from sale of discontinued operations | 4,600 | |
Acquisition of property, plant and equipment | (686) | (1,231) |
Net cash provided by (used in) investing activities | 3,914 | (1,231) |
Cash flows from financing activities: | ||
Borrowings under Credit Facility, net | 16,711 | 12,500 |
Proceeds from the sale of common stock | 88,816 | |
Payments of financing costs related to issuance of common stock | (405) | |
Proceeds from the exercise of stock options and warrants | 776 | 1,430 |
Payment of debt issuance costs and other financing activities | (46) | (47) |
Net cash provided by financing activities | 105,852 | 13,883 |
Net increase (decrease) in cash and cash equivalents | 71,075 | (35,545) |
Cash and cash equivalents, beginning of period | 28,165 | 63,710 |
Cash and cash equivalents, end of period | 99,240 | 28,165 |
Supplemental Disclosure of Cash Flow Information: | ||
Interest paid | 3,482 | 1,427 |
Income taxes paid | 24 | 13 |
Acquisition of property, plant and equipment accrued not paid | $ 177 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 10,320,000 | ||||
Balance at Dec. 31, 2016 | $ 10 | $ 121,806 | $ (33,236) | $ (2) | $ 88,578 |
Issuance of common stock warrants | 449 | 449 | |||
Option and warrant exercises (in shares) | 293,000 | ||||
Option and warrant exercises | $ 1 | 1,429 | 1,430 | ||
Restricted stock issued, net of stock forfeited (in shares) | 236,000 | ||||
Restricted stock issued, net of stock forfeited | |||||
Stock-based compensation | 2,315 | 2,315 | |||
Unrealized holding period gain | 1 | 1 | |||
Net loss | (44,600) | $ (44,600) | |||
Option exercises (in shares) | 261,748 | ||||
Other comprehensive gain | 1 | $ 1 | |||
Balance (in shares) at Dec. 31, 2017 | 10,849,000 | ||||
Balance at Dec. 31, 2017 | $ 11 | 125,999 | (77,836) | (1) | 48,173 |
Issuance of common stock warrants | 621 | 621 | |||
Restricted stock issued, net of stock forfeited (in shares) | 231,000 | ||||
Restricted stock issued, net of stock forfeited | $ 1 | 1 | |||
Stock-based compensation | 3,044 | 3,044 | |||
Unrealized holding period gain | 2 | 2 | |||
Net loss | (48,131) | (48,131) | |||
Issuance of common stock, net of issuance costs of $6,617 (in shares) | 6,498,000 | ||||
Issuance of common stock, net of issuance costs of $6,617 | $ 6 | 88,404 | $ 88,410 | ||
Option exercises (in shares) | 112,000 | 111,857 | |||
Option exercises | 776 | $ 776 | |||
Other comprehensive gain | 2 | 2 | |||
Balance (in shares) at Dec. 31, 2018 | 17,690,000 | ||||
Balance at Dec. 31, 2018 | $ 18 | $ 218,844 | $ (125,967) | $ 1 | $ 92,896 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Additional Paid-in Capital [Member] | |
Stock issuance costs | $ 6,617 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations first In March 2016, On January 2, 2019, December 31, 2018. December 31, 2017 2 2 Basis of Presentation 10 X. Liquidity and Capital Resources Based on its current plans and expectations, the Company estimates that its cash on hand, which includes proceeds from the Company’s follow-on common stock offerings completed in the first third 2018, twelve The Company periodically evaluates its liquidity requirements, alternative uses of capital, capital needs and available resources. As a result of this process, the Company has in the past sought, and may not may may no Use of Estimates Fair Value Measurements . three Level 1 1 not Level 2 not Level 3 3 The availability of observable inputs can vary and is affected by a wide variety of factors, including, the type of asset/liability, whether the asset/liability is established in the marketplace, and other characteristics particular to the valuation. To the extent that a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not 12 Cash and Cash Equivalents three Concentration of Credit Risk No 10% 2018 2017. No 10% December 31, 2018 2017. may 14 Allowance for Doubtful Accounts not not $0.7 $0.4 December 31, 2018 2017, Inventories first first not Write-downs of excess and obsolete inventories were $0.7 $0.4 2018 2017, may Property, Plant and Equipment, Net (“PP&E”) 7 40 3 8 3 10 The Company is a party to various operating lease agreements for buildings, machinery, and equipment. Lease expense includes the effect of escalation clauses, which are accounted for ratably over the lease term. Note 4 Amortizing Intangible Assets, Net 5 Impairment of Long-Lived Assets may not not, not 50 Potential recoverability is measured by comparing the carrying amount of the asset or asset group to its related total future undiscounted cash flows. The projected cash flows for each asset or asset group considers multiple factors, including current revenue from existing customers, proceeds from the sale of the asset or asset group and expected profit margins giving consideration to historical and expected margins. If the carrying value is not no The Company did not 2018 third fourth 2018; first 2018 Goodwill Valuation December 31, may not first 360 10, Impairment and Disposal of Long-Lived Assets The Company completed its annual impairment assessment of goodwill as of December 31, 2017 not The Company completed its annual impairment assessment of goodwill as of December 31, 2018 not In the first 2018, Subsequently, on December 31, 2018, $1.3 $3.4 The following represents our goodwill balance by reportable segment. Changes to goodwill during the years ended December 31, 2018 December 30, 2017 Nuvectra Balance – December 31, 2016 Goodwill, gross $ 33,491 Accumulated impairment losses — Goodwill, net 33,491 Goodwill impairment charge — Balance – December 31, 2017 Goodwill, gross 33,491 Accumulated impairment losses — Goodwill, net 33,491 Goodwill impairment charge — Balance – December 31, 2018 Goodwill, gross 33,491 Accumulated impairment losses — Goodwill, net $ 33,491 Warranty Reserve Research, Development and Engineering Costs, Net (“RD&E”) Stock-Based Compensation – 7 Interest Expense, Net $4.7 $2.3 2018 2017, $1.1 $0.3 2018 2017, Comprehensive Loss Income Taxes not The Company records uncertain tax positions in accordance with ASC 740 two 1 not 2 not 50 The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statement of Operations. Subsequent Events Effective January 31, 2019, January 31, 2019, may March 7, 2016, $1,168,490 $359,548 2018 $352,240 2019 $440,300 $16,402, 12 March 7, 2020. January 31, 2020, On February 27, 2019, March 18, 2016, $10.0 March 31, 2019. April 30, 2019 three 2019. |
Note 2 - Discontinued Operation
Note 2 - Discontinued Operations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 2. Discontinued Operations Effective December 31, 2018, $5.0 $0.8 $0.4 $0.5 $0.3 December 31, 2018. For disposal transactions, the disposal of a component of an entity is reported in discontinued operations if the disposition represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results. The Company evaluated the quantitative and qualitative factors related to the sale of NeuroNexus and concluded that it met the requirements for discontinued operations presentation as of December 31, 2018. December 31, 2017. The assets and liabilities of a discontinued operations held for sale, other than goodwill, are measured at the lower of carrying amount or fair value less cost to sell. Accordingly, the assets and liabilities of NeuroNexus, other than goodwill, are measured at carrying amount. The carrying amounts of the NeuroNexus assets and liabilities that were classified as assets and liabilities of discontinued operations held for sale were as follows (in thousands): At December 31, 201 7 Accounts receivable, net of allowance for doubtful accounts of $3 thousand $ 955 Prepaid expenses and other current assets 16 Current assets of discontinued operations held for sale 971 Property, plant and equipment, net 319 Intangible assets, net 1,428 Goodwill 4,691 Noncurrent assets of discontinued operations held for sale 6,438 Total assets 7,409 Accrued liabilities 264 Accrued compensation 114 Current liabilities of discontinued operations held for sale 378 Net assets $ 7,031 Income (loss) from discontinued operations, net of income taxes, were as follows (in thousands): Year Ended December 31, 2018 December 31, 2017 Sales $ 4,855 $ 4,756 Cost of sales 1,637 1,460 Gross profit 3,218 3,296 Operating expenses: Selling, general and administrative expenses 1,075 1,114 Research, development and engineering costs, net 1,814 1,963 Goodwill impairment 1,261 — Total operating expenses 4,150 3,077 (Loss) income from discontinued operations before taxes (932 ) 219 Provision for income taxes 54 83 (Loss) income from discontinued operations $ (986 ) $ 136 Net cash proceeds of $4.6 December 31, 2018. Year Ended December 31, 201 8 December 31, 2017 Cash flows from operating activities: (Loss) income from discontinued operations $ (986 ) $ 136 Adjustments to reconcile (loss) income to net cash provided by operating activities: Provision for uncollectible accounts (1 ) (6 ) Depreciation and amortization 359 366 Goodwill impairment 1,261 — Stock-based compensation 175 94 Changes in operating assets and liabilities: Trade accounts receivable 955 124 Prepaid expenses and other current assets (15 ) (5 ) Accounts payable and other current liabilities (264 ) (98 ) Accrued compensation (114 ) 103 Net cash provided by operating activities 1,370 714 Cash flows from investing activities: Acquisition of property, plant and equipment (24 ) (91 ) Net cash used in investing activities (24 ) (91 ) |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3 . REVENUE FROM CONTRACTS WITH CUSTOMERS The Company adopted ASC 606, Revenue From Contracts With Customers 606” January 1, 2018 not 606 not 2018 606 2017 605, Revenue Recognition 605” 606 606, five 1 Identify the contract(s) with a customer 2 Identify the performance obligations in the contract - third not 3 Determine the transaction price - not 4 Allocate the transaction price to the performance obligations in the contract - not 5 Recognize revenue when (or as) the Company satisfies a performance obligation - Disaggregated Revenue - Revenue Streams & Timing of Revenue Recognition The Company’s most significant revenue streams currently include or historically included (i) product sales, consisting of Nuvectra’s Algovita and NeuroNexus’s neural interface systems and (ii) development and engineering service revenue. Following is a description of the nature of the Company’s disaggregated revenue streams. Also see Note 14, 2, Product Sales The Company’s product sales revenue contracts may one $47.1 twelve December 31, 2018. $4.9 twelve December 31, 2018. Algovita not no Revenue from discontinued operations of n eural interface systems and components Shipping and handling costs Warranty not Significant judgments may not Development and Engineering Service Revenue The Company’s development services are typically provided on a fixed-fee basis. Service revenue is recognized over time as the services are performed using an input method, on a cost-to-cost basis. In 2017 2018, one not $1.7 2018. not Significant judgments may not The Company’s service revenue is recognized over time using an input method based on costs incurred. As such, estimating the total costs to be incurred and progress to completion on the contract requires significant judgment. Management uses historical experience, project plans and an assessment of the risks and uncertainties inherent in the arrangements to establish these estimates. Various uncertainties may may not Transaction Price Allocated to Future Performance Obligations ASC 606 not one not December 31, 2018, $0.7 6 12 Contract Balances Timing of revenue recognition may not. 30 Revenue recognized during 2018 $0.1 no 2018 2018, no Costs to Obtain and Fulfill a Contract The Company has elected to apply the practical expedient and recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one one January 1, 2018 December 31, 2018, one Certain NeuroNexus contracts may no January 1, 2018 December 31, 2018. |
Note 4 - Property, Plant and Eq
Note 4 - Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. PROPERTY, PLANT AND EQUIPMENT, NET PP&E, net is comprised of the following (in thousands): At December 31, 201 8 December 3 1 , 201 7 Machinery and equipment $ 1,964 $ 1,904 Buildings and building improvements 2,848 2,837 Information technology hardware and software 4,695 4,247 Furniture and fixtures 372 371 Land and land improvements 390 390 Construction work in process 480 300 Total, gross 10,749 10,049 Accumulated depreciation (5,536 ) (4,149 ) Total, net $ 5,213 $ 5,900 Depreciation and rent expense from continuing operations were as follows (in thousands): Year Ended December 31 , 201 8 December 3 1 , 201 7 Depreciation expense $ 1,486 $ 1,249 Rent expense 631 369 Minimum future estimated annual operating lease payments as of December 31, 2018 2019 $ 588 2020 600 2021 613 2022 553 2023 85 Thereafter — Total estimated operating lease payments $ 2,439 |
Note 5 - Intangible Assets, Net
Note 5 - Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 5 . INTANGIBLE ASSETS , NET Intangible assets, net, of the Company’s discontinued operations were comprised of the following (in thousands): Gross Carrying Amount Accumulated Amortization Disposal of Discontinued Operation s Net Carrying Amount At December 31, 2017 Technology and patents $ 1,058 $ (624 ) $ — $ 434 Customer lists 1,869 (875 ) — 994 Total intangible assets $ 2,927 $ (1,499 ) $ — $ 1,428 At December 31, 2018 Technology and patents $ 1,058 $ (763 ) $ (295 ) $ — Customer lists 1,869 (1,034 ) (835 ) — Total intangible assets $ 2,927 $ (1,797 ) $ (1,130 ) $ — Aggregate intangible asset amortization expense of the Company’s discontinued operations was classified as follows (in thousands): Year Ended December 31 , 201 8 December 31 , 201 7 Cost of sales $ 139 $ 126 Selling, general and administrative expenses 159 160 Total intangible asset amortization expense $ 298 $ 286 |
Note 6 - Accrued Liabilities
Note 6 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6 . Accrued Liabilities Accrued liabilities consisted of the following (in thousands): At December 31 , 201 8 December 31 , 201 7 Inventory purchases $ 2,030 $ 5,825 Research and development 651 70 Regulatory, clinical and quality 493 358 Warranty reserve 431 195 Interest 364 199 Sales and marketing 313 307 Legal 258 358 Taxes 222 140 Deferred revenue 107 276 Information technology system implementations 36 114 Operations engagement fee — 200 Insurance — 127 Accrued other 831 394 Total accrued liabilities $ 5,736 $ 8,563 |
Note 7 - Employee Benefit Plans
Note 7 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 7 . EMPLOYEE BENEFIT PLANS Nuvectra Corporation 2016 2016 “2016 may may 2016 2016 2,682,197. During fiscal year 2018, 385,886 2016 2016 2018, $3.0 During fiscal year 2017, 548,057 2016 2016 2017 $2.3 Stock-Based Compensation three No 2018. $0.2 2017. December 31, 2018, $4.2 1.7 The components and classification of stock-based compensation expense, included in continuing operations and discontinued operations, were as follows (in thousands): Year Ended December 31 , 201 8 December 31 , 201 7 Stock options $ 1,219 $ 864 Restricted stock and restricted stock units 1,825 1,451 Total stock-based compensation expense 3,044 2,315 Less: Discontinued operations 175 94 Stock-based compensation expense – continuing operations $ 2,869 $ 2,221 Year Ended December 31 , 201 8 December 31 , 201 7 Selling, general and administrative expense $ 2,478 $ 1,992 Research, development and engineering costs, net 391 229 Discontinued operations 175 94 Total stock-based compensation expense $ 3,044 $ 2,315 The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with weighted-average assumptions based on the grant date. The weighted average fair value and assumptions used to value options granted under the 2016 Year Ended December 31, 201 8 December 31 , 201 7 Weighted average fair value $ 9.32 $ 3.64 Risk-free interest rate 2.67 % 2.06 % Expected volatility 65 % 55 % Holding period (in years) 6 6 Expected dividend yield — % — % The following table summarizes the stock option activity during 2018: Number of Time-Vested Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at December 31, 2017 870,820 $ 6.78 Granted 238,646 15.40 Exercised (111,857 ) 6.95 Forfeited or expired (86,747 ) 9.47 Outstanding at December 31, 2018 910,862 $ 8.76 7.23 $ 7,262,425 Exercisable at December 31, 2018 565,552 $ 6.74 6.30 $ 5,427,729 The Company received proceeds totaling $0.8 111,857 2018. $1.4 261,748 32,425 2017. The following table summarizes the restricted stock and restricted stock unit activity during 2018: Time-Vested Activity Weighted Average Fair Value Nonvested at December 31, 2017 429,005 $ 6.88 Granted 147,240 16.83 Vested (232,755 ) 16.29 Forfeited (77,243 ) 8.07 Nonvested at December 31, 2018 266,247 $ 11.78 Nuvectra Bonus Plan 2018 2017 $1.9 $1.9 Defined Contribution Plans 401 1986, 401 401 2018 2017 25% 6% $0.3 $0.2 2018 2017, |
Note 8 - Debt
Note 8 - Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 . DEBT Long-term debt is comprised of the following (in thousands): At December 31, 201 8 December 31 , 2017 Term loan $ 48,488 $ 29,631 Deferred financing fees (787 ) (962 ) Discount on debt (3,619 ) (1,994 ) Total debt 44,082 26,675 Less current portion of long-term debt — 789 Total long-term debt $ 44,082 $ 25,886 Credit Facility March 2016 February 2017, February 2018, December 2018 February 2019 ( $45 $27.5 $27.5 February 2018, ( $12.5 February 2018, $5 September 2018. On December 31, 2018, $0.03 December 2018 The term loans bear interest at a floating rate equal to the prime rate plus 4.15%, 8.65%. December 31, 2018 9.40%. March 2020 30 September 1, 2022, 7.75% In connection with the February 2018 $40 $27.5 $0.8 February 2018 $1.3 3% February 2019, 2% February 2020, 1% The term loans are secured by a first one The Credit Facility contains customary representations and warranties, reporting and other covenants for credit facilities of this kind including prohibitions on the payment of cash dividends on the Company’s capital stock and restrictions on mergers, sales of assets, investments, incurrence of liens, incurrence of indebtedness and transactions with affiliates. The Company is subject to a quarterly financial covenant requiring the Company to achieve specified minimum consolidated product revenues. As of December 31, 2018, Warrants March 18, 2016 $15 two 56,533 113,066 $5.97 March 18, 2026. $1.5 $0.2 As a condition to the lenders’ funding the initial Term Loan B commitment on September 28, 2017 $12.5 two 22,844 45,688 $12.31 September 28, 2027. February 2017 $0.04 $0.4 As a condition to the lenders’ funding the new Term Loan B commitment under the February 2018 two 30,245 60,490 $9.30 February 18, 2028. $0.5 first 2018, As a condition to the lenders’ funding the new Term Loan C commitment on September 28, 2018 $5 two 5,119 10,238 $21.98 September 28, 2028. $0.2 third 2018, Deferred Financing Fees – At December 31, 2016 $ 1,262 Additions during the period 47 Amortization during the period (347 ) At December 31, 2017 $ 962 At December 31, 2017 $ 962 Additions during the period 46 Amortization during the period (221 ) At December 31, 2018 $ 787 In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015 03, 835 30 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9 . INCOME TAXES The benefit for income taxes from continuing operations was comprised of the following (in thousands): Year Ended December 31, 201 8 December 31 , 2017 Current tax benefit $ (21 ) $ (58 ) Deferred tax benefit (14,951 ) (2,743 ) Change in valuation allowance 14,951 2,743 Total benefit for income taxes $ (21 ) $ (58 ) The benefit for income taxes from continuing operations differs from the United States statutory rate as a result of the following (in thousands): Year Ended December 31, 201 8 December 31 , 201 7 Tax benefit at U.S. statutory rate $ (9,905 ) $ (15,230 ) State taxes, net of federal benefit (1,705 ) (822 ) Deferred true-up (998 ) — Capital loss carryforward (1,642 ) — Impact of tax reform rate change — 11,696 Other (722 ) 1,554 Valuation allowance – tax reform rate change — (11,696 ) Valuation allowance – other changes 14,951 14,440 Total benefit for income taxes $ (21 ) $ (58 ) Deferred tax assets (liabilities) from continuing operations consist of the following (in thousands): At December 31, 201 8 December 31 , 201 7 Net operating loss carryforwards $ 28,017 $ 16,839 Interest expense limitation 878 — Research and development tax credits 799 420 Property, plant and equipment 133 (58 ) Intangible assets 3,495 3,614 Accruals 814 503 Other 2,841 855 Gross deferred tax assets 36,977 22,173 Less valuation allowance (36,977 ) (22,173 ) Net deferred tax assets — — Net deferred tax asset (liability) $ — $ — Deferred income tax assets or liabilities reflect temporary differences between amounts of assets and liabilities, including net operating loss (“NOL”) carryforwards, for financial and tax reporting. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not not On December 22, 2017, December 31, 2017 34% 2017, 21% 30% not The Company has approximately $115 $67.2 $7.8 $1.1 December 31, 2018. not $43 2018 The Company’s ability to utilize its NOL carryforwards to offset future taxable income and to reduce U.S. federal income tax liability is subject to certain requirements and restrictions. In general, under Section 382 one 5% 50 three not may 382 The Company considers all available positive and negative evidence, including the Company’s current and past performance, the market environment in which the Company operates, the utilization of past tax credits, length of carry back and carry forward periods, existing contracts or sales backlog that will result in future profits, as well as other factors, to determine whether, based on the weight of that evidence, a valuation allowance is needed for some portion or all of a net deferred income tax asset. Judgment is used in considering the relative impact of negative and positive evidence. In arriving at these judgments, the weight given to the potential effect of negative and positive evidence is commensurate with the extent to which such evidence can be objectively verified. In evaluating the objective evidence and the need for a valuation allowance, the Company considered the past three Based on an assessment of the available positive and negative evidence, including the historical operating results, the Company has concluded that it is more likely than not not December 31, 2018 December 31, 2017. At December 31, 2018, $0.3 not 740 10 45 10A, no December 31, 2018 December 31, 2017, not A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands): December 31, 201 8 Balance at beginning of fiscal year $ 140 Gross amount of increases for current year tax positions 126 Balance at ending of fiscal year $ 266 The Company files annual income tax returns in the United States and various state and local jurisdictions. There are currently no three 2016 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 10 . COMMITMENTS AND CONTINGENCIES Litigation – not no not On September 19, 2017, three not Purchase Commitments 2019 December 31, 2018, no 2019 $1.5 Operating Leases 4 |
Note 11 - Earnings Per Share ("
Note 11 - Earnings Per Share ("EPS") | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 11 . EARNINGS PER SHARE (“EPS”) Basic net loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is equal to basic net loss per share as the Company had no Year Ended December 31 , 201 8 December 31 , 2017 Basic net loss per share: Loss from continuing operations $ (47,145 ) $ (44,736 ) (Loss) income from discontinued operations (986 ) 136 Net loss $ (48,131 ) $ (44,600 ) Weighted average common shares outstanding 14,801 10,576 Loss from continuing operations $ (3.19 ) $ (4.23 ) (Loss) income from discontinued operations (0.06 ) 0.01 Basic net loss per share $ (3.25 ) $ (4.22 ) Diluted net loss per share: Loss from continuing operations $ (47,145 ) $ (44,736 ) (Loss) income from discontinued operations (986 ) 136 Net loss $ (48,131 ) $ (44,600 ) Weighted average common shares outstanding 14,801 10,576 Dilutive stock options, restricted stock and restricted stock units — — Weighted average common shares outstanding – assuming dilution 14,801 10,576 Loss from continuing operations $ (3.19 ) $ (4.23 ) (Loss) income from discontinued operations (0.06 ) 0.01 Diluted net loss per share $ (3.25 ) $ (4.22 ) Outstanding securities and warrants that were not included in the diluted calculation because their effect would be anti-dilutive 1,350 1,402 |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 12 . FAIR VALUE MEASUREMENTS The carrying amounts of cash, accounts receivable, accounts payable, and accrued expenses approximate fair value because of the short-term nature of these items. As of December 31, 2018, 2 Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). The Company categorizes its warrants measured at fair value on a recurring basis in Level 3 3 2018 Balance at December 31, 2017 – initial Term Loan C (new Term Loan B) commitment warrant $ 400 Loss on fair value of warrant liability – initial Term Loan C (new Term Loan B) commitment warrant 55 Reclassification of warrant liability to equity upon issuance of warrants – initial Term Loan C (new Term Loan B) commitment warrant (455 ) Fair value of warrant liability issued in first quarter 2018 – new Term Loan C commitment warrant 109 Loss on fair value of warrant liability – new Term Loan C commitment warrant 57 Reclassification of warrant liability to equity upon issuance of warrants in third quarter 2018 – new Term Loan C commitment warrant (166 ) At December 31, 2018 $ - As discussed in Note 8, February 2018, February 2018 $0.1 September 2018, The Company’s investments in marketable securities primarily consist of investments in debt securities, which are classified as Cash and Cash Equivalents on the consolidated balance sheet because of their original maturities of three The fair values of marketable securities were estimated using the market approach using prices and other relevant information generated by market transactions involving identical or comparable assets. The Company uses quoted market prices in active markets or quoted market prices in markets that are not December 31, 2018, $88.3 three Marketable securities, measured at fair value, by level within the fair value hierarchy were as follows (in thousands): December 31, 201 8 Fair Value Hierarchy Cost Unrealized Gain Fair Value Cash Level 1 $ 46,877 $ — $ 46,877 Government Level 1 13,490 1 13,491 Financial Level 2 13,677 — 13,677 Industrial Level 2 14,247 — 14,247 Total $ 88,291 $ 1 $ 88,292 December 31, 2017 Fair Value Hierarchy Cost Unrealized Loss Fair Value Cash Level 1 $ 7,336 $ — $ 7,336 Government Level 1 1,499 — 1,499 Financial Level 2 3,799 (1 ) 3,798 Industrial Level 2 8,649 — 8,649 Total $ 21,283 $ (1 ) $ 21,282 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value standards also apply to certain assets and liabilities that are measured at fair value on a nonrecurring basis. A summary of the valuation methodologies for assets and liabilities measured on a nonrecurring basis is as follows: Long-lived Assets 1 2018 2017, no Goodwill not December 31, 1 On December 31, 2018, $1.3 $3.4 During 2017 no Warrants 10 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 13 . STOCKHOLDERS’ EQUITY The Company is authorized to issue 100 $0.001 one no not March 14, 2016, 10,258,278 In connection with the Credit Facility, the Company issued warrants to purchase common stock to its lenders. The below table lists the warrants outstanding and their material terms. Refer to Note 8 Issuance Date Number of Warrants Exercise Price Exercisable Through March 18, 2016 * 56,533 $5.97 March 18, 2026 September 28, 2017 * 45,688 $12.31 September 28, 2027 February 18, 2018 ** 60,490 $9.30 February 18, 2028 September 28, 2018 ** 10,238 $21.98 September 28, 2028 * These warrants were outstanding as of December 31, 2017 2018. ** These warrants were outstanding as of December 31, 2018. |
Note 14 - Business Segments, Ge
Note 14 - Business Segments, Geographic and Concentration Risk Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting, Geographical, and Concentration Risk Disclosure [Text Block] | 14 . BUSINESS SEGMENT S , GEOGRAPHIC AND CONCENTRATION RISK INFORMATION Effective December 31, 2018, December 31, 2018, one one Nuvectra is a neurostimulation company committed to helping physicians improve the lives of people with chronic conditions. Algovita is the Company’s first second first Prior to its divestiture, NeuroNexus designed, manufactured and marketed neural-interface technologies for the neuroscience clinical research market. Revenues included sales of neural interface technology, components and systems to the neuroscience and clinical markets. Refer to Note 2 An analysis and reconciliation of the Company’s product lines, business segments and geographic information to the respective information in the Consolidated Financial Statements follows (in thousands): Year Ended December 31 , 201 8 December 31 , 2017 Product line sales: Algovita $ 47,149 $ 25,567 Development and engineering service 1,682 1,513 Total sales $ 48,831 $ 27,080 Year Ended December 31 , 2018 December 31 , 2017 Business segment sales: Nuvectra $ 48,831 $ 27,080 Total sales $ 48,831 $ 27,080 Year Ended December 31 , 2018 December 31 , 2017 Segment loss from operations: Nuvectra $ (43,188 ) $ (42,231 ) Total segment loss from operations (43,188 ) (42,231 ) Unallocated operating expenses — — Operating loss (43,188 ) (42,231 ) Unallocated other expense, net (3,978 ) (2,563 ) Loss before provision for income taxes $ (47,166 ) $ (44,794 ) Year Ended December 31 , 2018 December 31 , 2017 Depreciation and amortization: Nuvectra $ 1,486 $ 1,249 Total depreciation and amortization included in segment income from operations 1,486 1,249 Unallocated depreciation and amortization — — Total depreciation and amortization $ 1,486 $ 1,249 Year Ended December 31 , 2018 December 31 , 2017 Expenditures for tangible long-lived assets: Nuvectra $ 662 $ 1,140 Total reportable segments 662 1,140 Unallocated tangible long-lived assets — — Total expenditures $ 662 $ 1,140 At December 31 , 2018 December 31 , 2017 Identifiable assets: Nuvectra $ 158,012 $ 83,694 Total reportable segments 158,012 83,694 Unallocated assets — — Total assets continuing operations $ 158,012 $ 83,694 Year Ended December 31 , 2018 December 31 , 2017 Sales by geographic area: United States $ 46,598 $ 24,545 Non-Domestic locations: Switzerland 1,682 1,513 Germany 141 789 Rest of world 410 233 Total sales $ 48,831 $ 27,080 All of the Company’s long-lived tangible assets are located in the United States. |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 15 . RELATED PARTY TRANSACTIONS On March 14, 2016, no Employee Benefit Plans 7 Supply Agreement |
Note 16 - Recently Issued Accou
Note 16 - Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 16 . RECENTLY ISSUED ACCOUNTING STANDARDS In the normal course of business, management evaluates all new accounting pronouncements issued by the FASB to determine the potential impact they may not not Recently Adopted in 2018 In May 2017, 2017 09, Compensation-Stock Compensation (Topic 718 2017 09 2017 09, not 2017 09 2017 09 not In January 2017, 2017 01, Business Combinations (Topic 805 Clarifying the Definition of a Business 2017 01 not not not 2017 01 2017 01 not In August 2016, 2016 15, Statement of Cash Flows (Topic 230 2016 15 eight 2016 15 not In January 2016, 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01 not In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 606 2014 09 January 1, 2018 not 2014 09 not January 1, 2018 December 31, 2018. 3, Not In August 2018, 2018 15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350 40 2018 15 December 15, 2019, In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 first 2020, In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 2016 13 December 15, 2019, December 15, 2018. In February 2016, 2016 02, Leases (Topic 842 2016 02 July 2018, 2018 11, Leases (Topic 842 2016 02 December 15, 2018 ( January 1, 2019, The Company elected the package of practical expedients that permits the Company not not 12 not The Company established an implementation team to assist with its assessment of the impact that the new guidance will have on the Company’s operations, consolidated financial statements and related disclosures. To date, this assessment has included surveying the Company’s business units, assessing the Company’s portfolio of leases, compiling information on active leases, and assessing the potential impact of embedded leases from service arrangements. The Company concluded that one four 10 The Company will recognize right-of-use assets and lease liabilities for operating leases including service arrangements that contain an embedded lease; measured as the total present value of outstanding future minimum lease payments for operating leases as of January 1, 2019. no $1.7 $2.2 January 1, 2019; not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of Operations first In March 2016, On January 2, 2019, December 31, 2018. December 31, 2017 2 2 |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation 10 X. |
Liquidity and Capital Resources [Policy Text Block] | Liquidity and Capital Resources Based on its current plans and expectations, the Company estimates that its cash on hand, which includes proceeds from the Company’s follow-on common stock offerings completed in the first third 2018, twelve The Company periodically evaluates its liquidity requirements, alternative uses of capital, capital needs and available resources. As a result of this process, the Company has in the past sought, and may not may may no |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements . three Level 1 1 not Level 2 not Level 3 3 The availability of observable inputs can vary and is affected by a wide variety of factors, including, the type of asset/liability, whether the asset/liability is established in the marketplace, and other characteristics particular to the valuation. To the extent that a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not 12 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk No 10% 2018 2017. No 10% December 31, 2018 2017. may 14 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts not not $0.7 $0.4 December 31, 2018 2017, |
Inventory, Policy [Policy Text Block] | Inventories first first not Write-downs of excess and obsolete inventories were $0.7 $0.4 2018 2017, may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment, Net (“PP&E”) 7 40 3 8 3 10 The Company is a party to various operating lease agreements for buildings, machinery, and equipment. Lease expense includes the effect of escalation clauses, which are accounted for ratably over the lease term. Note 4 |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Amortizing Intangible Assets, Net 5 |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets may not not, not 50 Potential recoverability is measured by comparing the carrying amount of the asset or asset group to its related total future undiscounted cash flows. The projected cash flows for each asset or asset group considers multiple factors, including current revenue from existing customers, proceeds from the sale of the asset or asset group and expected profit margins giving consideration to historical and expected margins. If the carrying value is not no The Company did not 2018 third fourth 2018; first 2018 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Valuation December 31, may not first 360 10, Impairment and Disposal of Long-Lived Assets The Company completed its annual impairment assessment of goodwill as of December 31, 2017 not The Company completed its annual impairment assessment of goodwill as of December 31, 2018 not In the first 2018, Subsequently, on December 31, 2018, $1.3 $3.4 The following represents our goodwill balance by reportable segment. Changes to goodwill during the years ended December 31, 2018 December 30, 2017 Nuvectra Balance – December 31, 2016 Goodwill, gross $ 33,491 Accumulated impairment losses — Goodwill, net 33,491 Goodwill impairment charge — Balance – December 31, 2017 Goodwill, gross 33,491 Accumulated impairment losses — Goodwill, net 33,491 Goodwill impairment charge — Balance – December 31, 2018 Goodwill, gross 33,491 Accumulated impairment losses — Goodwill, net $ 33,491 |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Reserve |
Research and Development Expense, Policy [Policy Text Block] | Research, Development and Engineering Costs, Net (“RD&E”) |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation – 7 |
Interest Expense and Income [Policy Text Block] | Interest Expense, Net $4.7 $2.3 2018 2017, $1.1 $0.3 2018 2017, |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss |
Income Tax, Policy [Policy Text Block] | Income Taxes not The Company records uncertain tax positions in accordance with ASC 740 two 1 not 2 not 50 The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statement of Operations. |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events Effective January 31, 2019, January 31, 2019, may March 7, 2016, $1,168,490 $359,548 2018 $352,240 2019 $440,300 $16,402, 12 March 7, 2020. January 31, 2020, On February 27, 2019, March 18, 2016, $10.0 March 31, 2019. April 30, 2019 three 2019. |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Nuvectra Balance – December 31, 2016 Goodwill, gross $ 33,491 Accumulated impairment losses — Goodwill, net 33,491 Goodwill impairment charge — Balance – December 31, 2017 Goodwill, gross 33,491 Accumulated impairment losses — Goodwill, net 33,491 Goodwill impairment charge — Balance – December 31, 2018 Goodwill, gross 33,491 Accumulated impairment losses — Goodwill, net $ 33,491 |
Note 2 - Discontinued Operati_2
Note 2 - Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | At December 31, 201 7 Accounts receivable, net of allowance for doubtful accounts of $3 thousand $ 955 Prepaid expenses and other current assets 16 Current assets of discontinued operations held for sale 971 Property, plant and equipment, net 319 Intangible assets, net 1,428 Goodwill 4,691 Noncurrent assets of discontinued operations held for sale 6,438 Total assets 7,409 Accrued liabilities 264 Accrued compensation 114 Current liabilities of discontinued operations held for sale 378 Net assets $ 7,031 Year Ended December 31, 2018 December 31, 2017 Sales $ 4,855 $ 4,756 Cost of sales 1,637 1,460 Gross profit 3,218 3,296 Operating expenses: Selling, general and administrative expenses 1,075 1,114 Research, development and engineering costs, net 1,814 1,963 Goodwill impairment 1,261 — Total operating expenses 4,150 3,077 (Loss) income from discontinued operations before taxes (932 ) 219 Provision for income taxes 54 83 (Loss) income from discontinued operations $ (986 ) $ 136 Year Ended December 31, 201 8 December 31, 2017 Cash flows from operating activities: (Loss) income from discontinued operations $ (986 ) $ 136 Adjustments to reconcile (loss) income to net cash provided by operating activities: Provision for uncollectible accounts (1 ) (6 ) Depreciation and amortization 359 366 Goodwill impairment 1,261 — Stock-based compensation 175 94 Changes in operating assets and liabilities: Trade accounts receivable 955 124 Prepaid expenses and other current assets (15 ) (5 ) Accounts payable and other current liabilities (264 ) (98 ) Accrued compensation (114 ) 103 Net cash provided by operating activities 1,370 714 Cash flows from investing activities: Acquisition of property, plant and equipment (24 ) (91 ) Net cash used in investing activities (24 ) (91 ) |
Note 4 - Property, Plant and _2
Note 4 - Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | At December 31, 201 8 December 3 1 , 201 7 Machinery and equipment $ 1,964 $ 1,904 Buildings and building improvements 2,848 2,837 Information technology hardware and software 4,695 4,247 Furniture and fixtures 372 371 Land and land improvements 390 390 Construction work in process 480 300 Total, gross 10,749 10,049 Accumulated depreciation (5,536 ) (4,149 ) Total, net $ 5,213 $ 5,900 |
Depreciation and Rent Expense for Property, Plant and Equipment [Table Text Block] | Year Ended December 31 , 201 8 December 3 1 , 201 7 Depreciation expense $ 1,486 $ 1,249 Rent expense 631 369 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2019 $ 588 2020 600 2021 613 2022 553 2023 85 Thereafter — Total estimated operating lease payments $ 2,439 |
Note 5 - Intangible Assets, N_2
Note 5 - Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross Carrying Amount Accumulated Amortization Disposal of Discontinued Operation s Net Carrying Amount At December 31, 2017 Technology and patents $ 1,058 $ (624 ) $ — $ 434 Customer lists 1,869 (875 ) — 994 Total intangible assets $ 2,927 $ (1,499 ) $ — $ 1,428 At December 31, 2018 Technology and patents $ 1,058 $ (763 ) $ (295 ) $ — Customer lists 1,869 (1,034 ) (835 ) — Total intangible assets $ 2,927 $ (1,797 ) $ (1,130 ) $ — |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Year Ended December 31 , 201 8 December 31 , 201 7 Cost of sales $ 139 $ 126 Selling, general and administrative expenses 159 160 Total intangible asset amortization expense $ 298 $ 286 |
Note 6 - Accrued Liabilities (T
Note 6 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | At December 31 , 201 8 December 31 , 201 7 Inventory purchases $ 2,030 $ 5,825 Research and development 651 70 Regulatory, clinical and quality 493 358 Warranty reserve 431 195 Interest 364 199 Sales and marketing 313 307 Legal 258 358 Taxes 222 140 Deferred revenue 107 276 Information technology system implementations 36 114 Operations engagement fee — 200 Insurance — 127 Accrued other 831 394 Total accrued liabilities $ 5,736 $ 8,563 |
Note 7 - Employee Benefit Pla_2
Note 7 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | Year Ended December 31 , 201 8 December 31 , 201 7 Stock options $ 1,219 $ 864 Restricted stock and restricted stock units 1,825 1,451 Total stock-based compensation expense 3,044 2,315 Less: Discontinued operations 175 94 Stock-based compensation expense – continuing operations $ 2,869 $ 2,221 Year Ended December 31 , 201 8 December 31 , 201 7 Selling, general and administrative expense $ 2,478 $ 1,992 Research, development and engineering costs, net 391 229 Discontinued operations 175 94 Total stock-based compensation expense $ 3,044 $ 2,315 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 201 8 December 31 , 201 7 Weighted average fair value $ 9.32 $ 3.64 Risk-free interest rate 2.67 % 2.06 % Expected volatility 65 % 55 % Holding period (in years) 6 6 Expected dividend yield — % — % |
Restricted Stock and RSU's [Member] | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Time-Vested Activity Weighted Average Fair Value Nonvested at December 31, 2017 429,005 $ 6.88 Granted 147,240 16.83 Vested (232,755 ) 16.29 Forfeited (77,243 ) 8.07 Nonvested at December 31, 2018 266,247 $ 11.78 |
Employee Stock Option [Member] | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Number of Time-Vested Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at December 31, 2017 870,820 $ 6.78 Granted 238,646 15.40 Exercised (111,857 ) 6.95 Forfeited or expired (86,747 ) 9.47 Outstanding at December 31, 2018 910,862 $ 8.76 7.23 $ 7,262,425 Exercisable at December 31, 2018 565,552 $ 6.74 6.30 $ 5,427,729 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | At December 31, 201 8 December 31 , 2017 Term loan $ 48,488 $ 29,631 Deferred financing fees (787 ) (962 ) Discount on debt (3,619 ) (1,994 ) Total debt 44,082 26,675 Less current portion of long-term debt — 789 Total long-term debt $ 44,082 $ 25,886 |
Schedule of Debt Issuance Costs [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="margin-right: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; margin-left: 36pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2016</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,262</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Additions during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(347</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2017</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">962</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; margin-left: 36pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2017</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">962</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Additions during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(221</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2018</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">787</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; margin-left: 36pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2016</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,262</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Additions during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(347</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2017</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">962</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 10%; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; margin-left: 36pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 83%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2017</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">962</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Additions during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization during the period</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(221</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">At December 31, 2018</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 14%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">787</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div> |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 201 8 December 31 , 2017 Current tax benefit $ (21 ) $ (58 ) Deferred tax benefit (14,951 ) (2,743 ) Change in valuation allowance 14,951 2,743 Total benefit for income taxes $ (21 ) $ (58 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 201 8 December 31 , 201 7 Tax benefit at U.S. statutory rate $ (9,905 ) $ (15,230 ) State taxes, net of federal benefit (1,705 ) (822 ) Deferred true-up (998 ) — Capital loss carryforward (1,642 ) — Impact of tax reform rate change — 11,696 Other (722 ) 1,554 Valuation allowance – tax reform rate change — (11,696 ) Valuation allowance – other changes 14,951 14,440 Total benefit for income taxes $ (21 ) $ (58 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At December 31, 201 8 December 31 , 201 7 Net operating loss carryforwards $ 28,017 $ 16,839 Interest expense limitation 878 — Research and development tax credits 799 420 Property, plant and equipment 133 (58 ) Intangible assets 3,495 3,614 Accruals 814 503 Other 2,841 855 Gross deferred tax assets 36,977 22,173 Less valuation allowance (36,977 ) (22,173 ) Net deferred tax assets — — Net deferred tax asset (liability) $ — $ — |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31, 201 8 Balance at beginning of fiscal year $ 140 Gross amount of increases for current year tax positions 126 Balance at ending of fiscal year $ 266 |
Note 11 - Earnings Per Share _2
Note 11 - Earnings Per Share ("EPS") (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31 , 201 8 December 31 , 2017 Basic net loss per share: Loss from continuing operations $ (47,145 ) $ (44,736 ) (Loss) income from discontinued operations (986 ) 136 Net loss $ (48,131 ) $ (44,600 ) Weighted average common shares outstanding 14,801 10,576 Loss from continuing operations $ (3.19 ) $ (4.23 ) (Loss) income from discontinued operations (0.06 ) 0.01 Basic net loss per share $ (3.25 ) $ (4.22 ) Diluted net loss per share: Loss from continuing operations $ (47,145 ) $ (44,736 ) (Loss) income from discontinued operations (986 ) 136 Net loss $ (48,131 ) $ (44,600 ) Weighted average common shares outstanding 14,801 10,576 Dilutive stock options, restricted stock and restricted stock units — — Weighted average common shares outstanding – assuming dilution 14,801 10,576 Loss from continuing operations $ (3.19 ) $ (4.23 ) (Loss) income from discontinued operations (0.06 ) 0.01 Diluted net loss per share $ (3.25 ) $ (4.22 ) Outstanding securities and warrants that were not included in the diluted calculation because their effect would be anti-dilutive 1,350 1,402 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Balance at December 31, 2017 – initial Term Loan C (new Term Loan B) commitment warrant $ 400 Loss on fair value of warrant liability – initial Term Loan C (new Term Loan B) commitment warrant 55 Reclassification of warrant liability to equity upon issuance of warrants – initial Term Loan C (new Term Loan B) commitment warrant (455 ) Fair value of warrant liability issued in first quarter 2018 – new Term Loan C commitment warrant 109 Loss on fair value of warrant liability – new Term Loan C commitment warrant 57 Reclassification of warrant liability to equity upon issuance of warrants in third quarter 2018 – new Term Loan C commitment warrant (166 ) At December 31, 2018 $ - |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 201 8 Fair Value Hierarchy Cost Unrealized Gain Fair Value Cash Level 1 $ 46,877 $ — $ 46,877 Government Level 1 13,490 1 13,491 Financial Level 2 13,677 — 13,677 Industrial Level 2 14,247 — 14,247 Total $ 88,291 $ 1 $ 88,292 December 31, 2017 Fair Value Hierarchy Cost Unrealized Loss Fair Value Cash Level 1 $ 7,336 $ — $ 7,336 Government Level 1 1,499 — 1,499 Financial Level 2 3,799 (1 ) 3,798 Industrial Level 2 8,649 — 8,649 Total $ 21,283 $ (1 ) $ 21,282 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Issuance Date Number of Warrants Exercise Price Exercisable Through March 18, 2016 * 56,533 $5.97 March 18, 2026 September 28, 2017 * 45,688 $12.31 September 28, 2027 February 18, 2018 ** 60,490 $9.30 February 18, 2028 September 28, 2018 ** 10,238 $21.98 September 28, 2028 |
Note 14 - Business Segments, _2
Note 14 - Business Segments, Geographic and Concentration Risk Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Revenue from External Customers by Products and Services [Table Text Block] | Year Ended December 31 , 201 8 December 31 , 2017 Product line sales: Algovita $ 47,149 $ 25,567 Development and engineering service 1,682 1,513 Total sales $ 48,831 $ 27,080 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31 , 2018 December 31 , 2017 Business segment sales: Nuvectra $ 48,831 $ 27,080 Total sales $ 48,831 $ 27,080 Year Ended December 31 , 2018 December 31 , 2017 Segment loss from operations: Nuvectra $ (43,188 ) $ (42,231 ) Total segment loss from operations (43,188 ) (42,231 ) Unallocated operating expenses — — Operating loss (43,188 ) (42,231 ) Unallocated other expense, net (3,978 ) (2,563 ) Loss before provision for income taxes $ (47,166 ) $ (44,794 ) Year Ended December 31 , 2018 December 31 , 2017 Depreciation and amortization: Nuvectra $ 1,486 $ 1,249 Total depreciation and amortization included in segment income from operations 1,486 1,249 Unallocated depreciation and amortization — — Total depreciation and amortization $ 1,486 $ 1,249 Year Ended December 31 , 2018 December 31 , 2017 Expenditures for tangible long-lived assets: Nuvectra $ 662 $ 1,140 Total reportable segments 662 1,140 Unallocated tangible long-lived assets — — Total expenditures $ 662 $ 1,140 At December 31 , 2018 December 31 , 2017 Identifiable assets: Nuvectra $ 158,012 $ 83,694 Total reportable segments 158,012 83,694 Unallocated assets — — Total assets continuing operations $ 158,012 $ 83,694 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year Ended December 31 , 2018 December 31 , 2017 Sales by geographic area: United States $ 46,598 $ 24,545 Non-Domestic locations: Switzerland 1,682 1,513 Germany 141 789 Rest of world 410 233 Total sales $ 48,831 $ 27,080 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) xbrli-pure in Thousands | Dec. 31, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Feb. 27, 2019USD ($) | Jan. 31, 2019USD ($) |
Allowance for Doubtful Accounts Receivable, Ending Balance | $ 700,000 | $ 700,000 | $ 400,000 | ||
Inventory Write-down | 671,000 | 417,000 | |||
Asset Impairment Charges, Total | 0 | ||||
Goodwill, Impairment Loss | 1,261,000 | 0 | |||
Interest Expense, Total | 4,700,000 | 2,300,000 | |||
Investment Income, Interest | 1,100,000 | $ 300,000 | |||
Loan Agreement [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | |||||
Debt Instrument, Covenant Compliance, Revenues | $ 10,000,000 | ||||
Former Chief Executive Officer [Member] | Subsequent Event [Member] | |||||
Separation Agreement, Aggregate Severance Payment | $ 1,168,490 | ||||
Sepearation Agreement, Amount to be Paid, Bonus Earned | 359,548 | ||||
Separation Agreement, Amount to be Paid, Target Bonus | 352,240 | ||||
Separation Agreement, Amount to be Paid, Equal to Annual Base Salary | 440,300 | ||||
Separation Agreement, Amount to be Paid, Twelve Months of Premiums for COBRA Coverage | $ 16,402 | ||||
NeuroNexus [Member] | |||||
Goodwill, Impairment Loss | 1,300,000 | ||||
Disposal Group, Including Discontinued Operation, Goodwill | $ 3,400,000 | $ 3,400,000 | |||
Building and Building Improvements [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 7 years | ||||
Building and Building Improvements [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 40 years | ||||
Machinery and Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Machinery and Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 8 years | ||||
Office Equipment [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Office Equipment [Member] | Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 10 years | ||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||||
Number of Major Customers | 0 | 0 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Number of Major Customers | 0 | 0 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Changes to Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill, net | $ 33,491 | $ 33,491 | |
Goodwill impairment charge | (1,261) | 0 | |
Nuvectra Segment [Member] | |||
Goodwill, gross | 33,491 | 33,491 | $ 33,491 |
Accumulated impairment losses | |||
Goodwill, net | $ 33,491 | 33,491 | 33,491 |
Goodwill impairment charge |
Note 2 - Discontinued Operati_3
Note 2 - Discontinued Operations (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Disposal Group, Including Discontinued Operation, Liabilities, Current, Total | $ 378 | ||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | (313) | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total | 4,600 | ||
NeuroNexus [Member] | |||
Proceeds from Divestiture of Businesses | 5,000 | ||
Disposal Group, Including Discontinued Operation, Distribution Received | 800 | ||
Disposal Group, Including Discontinued Operation, Cash Contributed | 400 | ||
Disposal Group, Including Discontinued Operation, Liabilities, Current, Total | 500 | $ 500 | |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | 300 | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total | $ 4,600 |
Note 2 - Discontinued Operati_4
Note 2 - Discontinued Operations - Schedule of Discontinued Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Current assets of discontinued operations held for sale | $ 971 | |
Noncurrent assets of discontinued operations held for sale | 6,438 | |
Current liabilities of discontinued operations held for sale | 378 | |
(Loss) income from discontinued operations before taxes | (932) | 219 |
Provision for income taxes | 54 | 83 |
(Loss) income from discontinued operations | (986) | 136 |
NeuroNexus [Member] | ||
Current liabilities of discontinued operations held for sale | 500 | |
NeuroNexus [Member] | Discontinued Operations, Held-for-sale [Member] | ||
Accounts receivable, net of allowance for doubtful accounts of $3 thousand | 955 | |
Prepaid expenses and other current assets | 16 | |
Current assets of discontinued operations held for sale | 971 | |
Property, plant and equipment, net | 319 | |
Intangible assets, net | 1,428 | |
Goodwill | 4,691 | |
Noncurrent assets of discontinued operations held for sale | 6,438 | |
Total assets | 7,409 | |
Accrued liabilities | 264 | |
Accrued compensation | 114 | |
Current liabilities of discontinued operations held for sale | 378 | |
Net assets | 7,031 | |
Disposal Group, Including Discontinued Operation, Revenue | 4,756 | |
Cost of sales | 1,460 | |
Gross profit | 3,296 | |
Selling, general and administrative expenses | 1,114 | |
Research, development and engineering costs, net | 1,963 | |
Goodwill impairment | ||
Total operating expenses | 3,077 | |
(Loss) income from discontinued operations before taxes | 219 | |
Provision for income taxes | 83 | |
(Loss) income from discontinued operations | 136 | |
Provision for uncollectible accounts | (6) | |
Depreciation and amortization | 366 | |
Goodwill impairment | ||
Stock-based compensation | 94 | |
Trade accounts receivable | 124 | |
Prepaid expenses and other current assets | (5) | |
Accounts payable and other current liabilities | (98) | |
Accrued compensation | 103 | |
Net cash provided by operating activities | 714 | |
Acquisition of property, plant and equipment | (91) | |
Net cash used in investing activities | $ (91) | |
NeuroNexus [Member] | Discontinued Operations, Disposed of by Sale [Member] | ||
Disposal Group, Including Discontinued Operation, Revenue | 4,855 | |
Cost of sales | 1,637 | |
Gross profit | 3,218 | |
Selling, general and administrative expenses | 1,075 | |
Research, development and engineering costs, net | 1,814 | |
Goodwill impairment | 1,261 | |
Total operating expenses | 4,150 | |
(Loss) income from discontinued operations before taxes | (932) | |
Provision for income taxes | 54 | |
(Loss) income from discontinued operations | (986) | |
Provision for uncollectible accounts | (1) | |
Depreciation and amortization | 359 | |
Goodwill impairment | 1,261 | |
Stock-based compensation | 175 | |
Trade accounts receivable | 955 | |
Prepaid expenses and other current assets | (15) | |
Accounts payable and other current liabilities | (264) | |
Accrued compensation | (114) | |
Net cash provided by operating activities | 1,370 | |
Acquisition of property, plant and equipment | (24) | |
Net cash used in investing activities | $ (24) |
Note 2 - Discontinued Operati_5
Note 2 - Discontinued Operations - Schedule of Discontinued Operations (Details) (Parentheticals) $ in Thousands | Dec. 31, 2017USD ($) |
Discontinued Operations, Held-for-sale [Member] | |
Allowance for doubtful accounts, discontinued operations | $ 3 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers 1 (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 48,831 | $ 27,080 | |
Revenue, Remaining Performance Obligation, Optional Exemption, Remaining Duration | 1 year | ||
Revenue, Remaining Performance Obligation, Amount | $ 700 | ||
Contract with Customer, Performance Obligation Satisfied in Previous Period | 0 | ||
Contract with Customer, Asset, Reclassified to Receivable | 0 | ||
Capitalized Contract Cost, Net, Total | 0 | $ 0 | |
Product [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 47,149 | 25,567 | |
Disposal Group, Including Discontinued Operation, Revenue | 4,900 | ||
Contract with Customer, Liability, Revenue Recognized | 100 | ||
Service [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,682 | $ 1,513 |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-01-01 | Dec. 31, 2018 |
Minimum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 180 days |
Maximum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Note 4 - Property, Plant and _3
Note 4 - Property, Plant and Equipment, Net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment, Gross | $ 10,749 | $ 10,049 |
Accumulated depreciation | (5,536) | (4,149) |
Total, net | 5,213 | 5,900 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment, Gross | 1,964 | 1,904 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment, Gross | 2,848 | 2,837 |
Information Technology Hardware and Software [Member] | ||
Property, Plant and Equipment, Gross | 4,695 | 4,247 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Gross | 372 | 371 |
Land and Land Improvements [Member] | ||
Property, Plant and Equipment, Gross | 390 | 390 |
Construction in Progress [Member] | ||
Property, Plant and Equipment, Gross | $ 480 | $ 300 |
Note 4 - Property, Plant and _4
Note 4 - Property, Plant and Equipment, Net - Depreciation and Rent Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation expense | $ 1,486 | $ 1,249 |
Rent expense | $ 631 | $ 369 |
Note 4 - Property, Plant and _5
Note 4 - Property, Plant and Equipment, Net - Minimum Future Estimated Annual Operating Lease Expenses (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 588 |
2,020 | 600 |
2,021 | 613 |
2,022 | 553 |
2,023 | 85 |
Thereafter | |
Total estimated operating lease payments | $ 2,439 |
Note 5 - Intangible Assets, N_3
Note 5 - Intangible Assets, Net - Amortizing Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Gross carrying amount | $ 2,927 | $ 2,927 |
Accumulated amortization | (1,797) | (1,499) |
Disposal of discontinued operations | (1,130) | |
Net carrying amount | 1,428 | |
Patented Technology [Member] | ||
Gross carrying amount | 1,058 | 1,058 |
Accumulated amortization | (763) | (624) |
Disposal of discontinued operations | (295) | |
Net carrying amount | 434 | |
Customer Lists [Member] | ||
Gross carrying amount | 1,869 | 1,869 |
Accumulated amortization | (1,034) | (875) |
Disposal of discontinued operations | (835) | |
Net carrying amount | $ 994 |
Note 5 - Intangible Assets, N_4
Note 5 - Intangible Assets, Net - Aggregate Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Intangible asset amortization expense | $ 298 | $ 286 |
Cost of Sales [Member] | ||
Intangible asset amortization expense | 139 | 126 |
Selling, General and Administrative Expenses [Member] | ||
Intangible asset amortization expense | $ 159 | $ 160 |
Note 6 - Accrued Liabilities -
Note 6 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Inventory purchases | $ 2,030 | $ 5,825 |
Research and development | 651 | 70 |
Regulatory, clinical and quality | 493 | 358 |
Warranty reserve | 431 | 195 |
Interest | 364 | 199 |
Sales and marketing | 313 | 307 |
Legal | 258 | 358 |
Taxes | 222 | 140 |
Deferred revenue | 107 | 276 |
Information technology system implementations | 36 | 114 |
Operations engagement fee | 200 | |
Insurance | 127 | |
Accrued other | 831 | 394 |
Total accrued liabilities | $ 5,736 | $ 8,563 |
Note 7 - Employee Benefit Pla_3
Note 7 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Proceeds from Stock Options Exercised | $ 800 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 111,857 | 261,748 |
Proceeds From Stock Options and Warrants Exercised | $ 776 | $ 1,430 |
Share-based Compensation Arrangement by Share-based Payment Award, Warrants, Exercises in Period | 32,425 | |
401K Plan [Member] | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25.00% | 25.00% |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% | 6.00% |
Defined Contribution Plan, Cost | $ 300 | $ 200 |
Bonus Plan [Member] | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 1,900 | 1,900 |
Nuvectra Corporation 2016 Equity Incentive Plan [Member] | ||
Common Stock, Capital Shares Reserved for Future Issuance | 2,682,197 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total | $ 3,000 | $ 2,300 |
Nuvectra Corporation 2016 Equity Incentive Plan [Member] | Restricted Stock Units and Non-Qualified Stock Options [Member] | Directors, Certain Officers and Key Employees [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options and Options, Grants in Period | 385,886 | 548,057 |
Integer Equity Incentives Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total | $ 0 | $ 200 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 4,200 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 255 days |
Note 7 - Employee Benefit Pla_4
Note 7 - Employee Benefit Plans - Allocated Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Allocated share-based compensation expense | $ 3,044 | $ 2,315 |
Discontinued Operations [Member] | ||
Allocated share-based compensation expense | 175 | 94 |
Continuing Operations [Member] | ||
Allocated share-based compensation expense | 2,869 | 2,221 |
Selling, General and Administrative Expenses [Member] | ||
Allocated share-based compensation expense | 2,478 | 1,992 |
Research and Development Expense [Member] | ||
Allocated share-based compensation expense | 391 | 229 |
Employee Stock Option [Member] | ||
Allocated share-based compensation expense | 1,219 | 864 |
Restricted Stock and RSU's [Member] | ||
Allocated share-based compensation expense | $ 1,825 | $ 1,451 |
Note 7 - Employee Benefit Pla_5
Note 7 - Employee Benefit Plans - Weighted Average Fair Value Assumption Used to Values Options Granted (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted average fair value (in dollars per share) | $ 9.32 | $ 3.64 |
Risk-free interest rate | 2.67% | 2.06% |
Expected volatility | 65.00% | 55.00% |
Holding period (in years) (Year) | 6 years | 6 years |
Expected dividend yield |
Note 7 - Employee Benefit Pla_6
Note 7 - Employee Benefit Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Exercised, number of options (in shares) | (111,857) | (261,748) |
Employee Stock Option [Member] | ||
Outstanding, number of options (in shares) | 870,820 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 6.78 | |
Granted, number of options (in shares) | 238,646 | |
Granted, weighted average exercise price (in dollars per share) | $ 15.40 | |
Exercised, number of options (in shares) | (111,857) | |
Exercised, weighted average exercise price (in dollars per share) | $ 6.95 | |
Forfeited or expired, number of options (in shares) | (86,747) | |
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 9.47 | |
Outstanding, number of options (in shares) | 910,862 | 870,820 |
Outstanding, weighted average exercise price (in dollars per share) | $ 8.76 | $ 6.78 |
Outstanding, weighted average remaining contractual life (Year) | 7 years 83 days | |
Outstanding, aggregate intrinsic value | $ 7,262,425 | |
Exercisable, number of options (in shares) | 565,552 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 6.74 | |
Exercisable, weighted average remaining contractual life (Year) | 6 years 109 days | |
Exercisable, aggregate intrinsic value | $ 5,427,729 |
Note 7 - Employee Benefit Pla_7
Note 7 - Employee Benefit Plans - Summary Restricted Stock Unit Activity (Details) - Restricted Stock and RSU's [Member] | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Nonvested (in shares) | shares | 429,005 |
Nonvested (in dollars per share) | $ / shares | $ 6.88 |
Granted (in shares) | shares | 147,240 |
Granted (in dollars per share) | $ / shares | $ 16.83 |
Vested (in shares) | shares | (232,755) |
Vested (in dollars per share) | $ / shares | $ 16.29 |
Forfeited (in shares) | shares | (77,243) |
Forfeited (in dollars per share) | $ / shares | $ 8.07 |
Nonvested (in shares) | shares | 266,247 |
Nonvested (in dollars per share) | $ / shares | $ 11.78 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) $ / shares in Units, $ in Thousands | Sep. 28, 2018USD ($)$ / sharesshares | Feb. 28, 2018USD ($)$ / sharesshares | Feb. 16, 2018USD ($) | Sep. 28, 2017USD ($)$ / sharesshares | Mar. 18, 2016USD ($)$ / sharesshares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Debt Instrument, Unamortized Discount, Total | $ 3,619 | $ 1,994 | |||||
Proceeds from Issuance of Long-term Debt, Total | 16,711 | 12,500 | |||||
Debt Issuance Costs Incurred During Period | 46 | $ 47 | |||||
Warrants in Connection with Term Loan A [Member] | Additional Paid-in Capital [Member] | |||||||
Warrants and Rights Outstanding | $ 200 | ||||||
Warrants in Connection with Term Loan B [Member] | Additional Paid-in Capital [Member] | |||||||
Warrants and Rights Outstanding | $ 400 | ||||||
Warrants Issued in Connection with Term Loan A and Term Loan B [Member] | Additional Paid-in Capital [Member] | |||||||
Warrants and Rights Outstanding | $ 500 | ||||||
Warrants in Connection with Term Loan C [Member] | Additional Paid-in Capital [Member] | |||||||
Warrants and Rights Outstanding | $ 200 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Warrants in Connection with Term Loan A [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 113,066 | ||||||
Class of Warrant or Right, Issued During Period, Exercise Price | $ / shares | $ 5.97 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Warrants in Connection with Term Loan B [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 45,688 | ||||||
Class of Warrant or Right, Issued During Period, Exercise Price | $ / shares | $ 12.31 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Warrants Issued in Connection with Term Loan A and Term Loan B [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 60,490 | ||||||
Class of Warrant or Right, Issued During Period, Exercise Price | $ / shares | $ 9.30 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Warrants in Connection with Term Loan C [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 10,238 | ||||||
Class of Warrant or Right, Issued During Period, Exercise Price | $ / shares | $ 21.98 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Term Loan A [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | $ 15,000 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Term Loan B [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | $ 12,500 | ||||||
Debt Issuance Costs Incurred During Period | $ 40 | ||||||
Oxford Finance LLC and Silicon Valley Bank [Member] | Term Loan C [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | $ 5,000 | ||||||
Oxford Finance LLC [Member] | Warrants in Connection with Term Loan A [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 56,533 | ||||||
Oxford Finance LLC [Member] | Warrants in Connection with Term Loan B [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 22,844 | ||||||
Oxford Finance LLC [Member] | Warrants Issued in Connection with Term Loan A and Term Loan B [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 30,245 | ||||||
Oxford Finance LLC [Member] | Warrants in Connection with Term Loan C [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 5,119 | ||||||
Silicon Valley Bank [Member] | Warrants in Connection with Term Loan A [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 56,533 | ||||||
Silicon Valley Bank [Member] | Warrants in Connection with Term Loan B [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 22,844 | ||||||
Silicon Valley Bank [Member] | Warrants Issued in Connection with Term Loan A and Term Loan B [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 30,245 | ||||||
Silicon Valley Bank [Member] | Warrants in Connection with Term Loan C [Member] | |||||||
Class of Warrant or Right, Issued During Period | shares | 5,119 | ||||||
Term Loans [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | 45,000 | ||||||
Debt Instrument, Unamortized Discount, Total | $ 30 | ||||||
Debt Instrument, Interest Rate Floor | 8.65% | ||||||
Debt Instrument, Interest Rate During Period | 9.40% | ||||||
Debt Instrument, Percentage of Funded Loan Amounts due at Maturity | 7.75% | ||||||
Proceeds from Issuance of Long-term Debt, Total | $ 40,000 | ||||||
Repayments of Long-term Debt, Total | 27,500 | ||||||
Loan Amendment Payment | $ 800 | ||||||
Term Loans [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | If Term Loan B Funded, Beginning April 2020 [Member] | |||||||
Debt Instrument, Number of Monthly Principal and Interest Payments | 30 | ||||||
Term Loans [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | Prepayment in First Year After Initial Closing [Member] | |||||||
Debt Instrument, Prepayment Fee, Amount | $ 1,300 | ||||||
Debt Instrument, Prepayment Fee Percentage | 3.00% | ||||||
Term Loans [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | Prepayment in Second Year After Initial Closing [Member] | |||||||
Debt Instrument, Prepayment Fee, Amount | $ 1,300 | ||||||
Debt Instrument, Prepayment Fee Percentage | 2.00% | ||||||
Term Loans [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | Prepayment After Second Year After Initial Closing [Member] | |||||||
Debt Instrument, Prepayment Fee, Amount | $ 1,300 | ||||||
Debt Instrument, Prepayment Fee Percentage | 1.00% | ||||||
Term Loans [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | Prime Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 4.15% | ||||||
Term Loan A [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | $ 27,500 | ||||||
Debt Issuance Costs Incurred During Period | $ 1,500 | ||||||
Term Loan B [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | 12,500 | ||||||
Term Loan C [Member] | Oxford Finance LLC and Silicon Valley Bank [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | $ 5,000 |
Note 8 - Debt - Long-term Debt
Note 8 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Term loan | $ 48,488 | $ 29,631 |
Deferred financing fees | (787) | (962) |
Discount on debt | (3,619) | (1,994) |
Total debt | 44,082 | 26,675 |
Less current portion of long-term debt | 789 | |
Total long-term debt | $ 44,082 | $ 25,886 |
Note 8 - Debt - Deferred Financ
Note 8 - Debt - Deferred Financing Fees (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Deferred financing fees | $ 962 | $ 1,262 |
Additions during the period | 46 | 47 |
Amortization during the period | (221) | (347) |
Deferred financing fees | $ 787 | $ 962 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% |
Unrecognized Tax Benefits, Ending Balance | $ 266 | $ 140 |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 115,000 | |
Operating Loss Carryforwards, Amount not Subject to Expiration | 43,000 | |
Domestic Tax Authority [Member] | Capital Loss Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 7,800 | |
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 1,100 | |
State and Local Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards, Total | $ 67,200 | |
Greatbatch [Member] | Tax Matters Agreement [Member] | ||
Equity Issuance Limitations | 30.00% |
Note 9 - Income Taxes - Provisi
Note 9 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Current tax benefit | $ (21) | $ (58) |
Deferred tax benefit | (14,951) | (2,743) |
Change in valuation allowance | 14,951 | 2,743 |
Benefit for income taxes | $ (21) | $ (58) |
Note 9 - Income Taxes - Tax Rat
Note 9 - Income Taxes - Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Tax benefit at U.S. statutory rate | $ (9,905) | $ (15,230) |
State taxes, net of federal benefit | (1,705) | (822) |
Deferred true-up | (998) | |
Capital loss carryforward | (1,642) | |
Impact of tax reform rate change | 11,696 | |
Other | (722) | 1,554 |
Valuation allowance – tax reform rate change | (11,696) | |
Valuation allowance – other changes | 14,951 | 14,440 |
Total benefit for income taxes | $ (21) | $ (58) |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets, net operating loss carryforwards | $ 28,017 | $ 16,839 |
Interest expense limitation | 878 | |
Deferred tax assets, research & development tax credits | 799 | 420 |
Deferred tax assets, property, plant & equipment | 133 | |
Deferred tax assets, property, plant & equipment | (58) | |
Deferred tax assets, intangible assets | 3,495 | 3,614 |
Accruals | 814 | 503 |
Deferred tax assets, other | 2,841 | 855 |
Deferred tax assets, gross deferred tax assets | 36,977 | 22,173 |
Less valuation allowance | (36,977) | (22,173) |
Net deferred tax assets | ||
Net deferred tax asset (liability) |
Note 9 - Income Taxes - Unrecog
Note 9 - Income Taxes - Unrecognized Tax Benefits (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Balance at beginning of fiscal year | $ 140 |
Gross amount of increases for current year tax positions | 126 |
Balance at ending of fiscal year | $ 266 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Capital Expenditures Yet to Be Incurred | $ 1.5 |
Note 11 - Earnings Per Share _3
Note 11 - Earnings Per Share ("EPS") (Details Textual) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Weighted Average Number Diluted Shares Outstanding Adjustment, Total | 0 | 0 | 0 |
Note 11 - Earnings Per Share _4
Note 11 - Earnings Per Share ("EPS") - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Basic net loss per share: | ||
Loss from continuing operations | $ (47,145) | $ (44,736) |
(Loss) income from discontinued operations | (986) | 136 |
Net loss | $ (48,131) | $ (44,600) |
Weighted average common shares outstanding (in shares) | 14,801 | 10,576 |
Loss from continuing operations (in dollars per share) | $ (3.19) | $ (4.23) |
(Loss) income from discontinued operations (in dollars per share) | (0.06) | 0.01 |
Basic net loss per share (in dollars per share) | $ (3.25) | $ (4.22) |
Diluted net loss per share: | ||
Loss from continuing operations | $ (47,145) | $ (44,736) |
(Loss) income from discontinued operations | (986) | 136 |
Net loss | $ (48,131) | $ (44,600) |
Weighted average common shares outstanding (in shares) | 14,801 | 10,576 |
Dilutive stock options, restricted stock and restricted stock units (in shares) | ||
Weighted average common shares outstanding – assuming dilution (in shares) | 14,801 | 10,576 |
Loss from continuing operations (in dollars per share) | $ (3.19) | $ (4.23) |
(Loss) income from discontinued operations (in dollars per share) | (0.06) | 0.01 |
Diluted net loss per share (in dollars per share) | $ (3.25) | $ (4.22) |
Outstanding securities and warrants that were not included in the diluted calculation because their effect would be anti-dilutive (in shares) | 1,350 | 1,402 |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 28, 2018 |
Derivative Liability, Total | $ 100,000 | |||
Debt Securities, Available-for-sale, Total | $ 88,292,000 | $ 88,292,000 | $ 21,282,000 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | ||
Goodwill, Impairment Loss | 1,261,000 | $ 0 | ||
NeuroNexus [Member] | ||||
Goodwill, Impairment Loss | 1,300,000 | |||
Disposal Group, Including Discontinued Operation, Goodwill | $ 3,400,000 | $ 3,400,000 |
Note 12 - Fair Value Measurem_4
Note 12 - Fair Value Measurements - Summary of Changes in the Fair Value of Liability Warrants (Details) - Warrant Liabilities [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Fair value of warrant liability issued in 2018 | |
Warrants in Connection with Term Loan B [Member] | |
Balance | 400 |
Loss on fair value of warrant liability | 55 |
Reclassification of warrant liability to equity upon issuance of warrants | (455) |
Warrants in Connection with Term Loan C [Member] | |
Loss on fair value of warrant liability | 57 |
Reclassification of warrant liability to equity upon issuance of warrants | (166) |
Fair value of warrant liability issued in 2018 | $ 109 |
Note 12 - Fair Value Measurem_5
Note 12 - Fair Value Measurements - Marketable Securities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available-for-sale Securities, Amortized Cost Basis | $ 88,291 | $ 21,283 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain | 1 | |
Available-for-sale Securities | 88,292 | 21,282 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss | (1) | |
Fair Value, Inputs, Level 1 [Member] | Cash [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 46,877 | 7,336 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain | ||
Available-for-sale Securities | 46,877 | 7,336 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss | ||
Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 13,490 | 1,499 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain | 1 | |
Available-for-sale Securities | 13,491 | 1,499 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss | ||
Fair Value, Inputs, Level 2 [Member] | Financial Debt Securities [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 13,677 | 3,799 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain | ||
Available-for-sale Securities | 13,677 | 3,798 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss | (1) | |
Fair Value, Inputs, Level 2 [Member] | Industrial Debt Securities [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 14,247 | 8,649 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain | ||
Available-for-sale Securities | $ 14,247 | 8,649 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss |
Note 13 - Stockholders' Equit_2
Note 13 - Stockholders' Equity (Details Textual) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 14, 2016 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |
Common Stock, Shares, Outstanding, Ending Balance | 17,689,928 | 10,849,385 | 10,258,278 |
Note 13 - Stockholders' Equit_3
Note 13 - Stockholders' Equity - Warrants (Details) | Dec. 31, 2018$ / sharesshares | |
Warrants Issued March 18, 2016 [Member] | ||
Number of warrants (in shares) | shares | 56,533 | [1] |
Exerise price (in dollars per share) | $ / shares | $ 5.97 | [1] |
Warrants Issued September 28, 2017 [Member] | ||
Number of warrants (in shares) | shares | 45,688 | [1] |
Exerise price (in dollars per share) | $ / shares | $ 12.31 | [1] |
Warrants Issued February 18, 2018 [Member] | ||
Number of warrants (in shares) | shares | 60,490 | [2] |
Exerise price (in dollars per share) | $ / shares | $ 9.30 | [2] |
Warrants Issued September 28, 2018 [Member] | ||
Number of warrants (in shares) | shares | 10,238 | [2] |
Exerise price (in dollars per share) | $ / shares | $ 21.98 | [2] |
[1] | These warrants were outstanding as of December 31, 2017 and 2018. | |
[2] | These warrants were outstanding as of December 31, 2018. |
Note 14 - Business Segments, _3
Note 14 - Business Segments, Geographic and Concentration Risk Information (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Number of Reportable Segments | 1 |
Number of Reporting Units | 1 |
Note 14 - Business Segments, _4
Note 14 - Business Segments, Geographic and Concentration Risk Information - Product Line Sales (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 48,831 | $ 27,080 |
Algovita [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 47,149 | 25,567 |
Development and Engineering Services [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,682 | $ 1,513 |
Note 14 - Business Segments, _5
Note 14 - Business Segments, Geographic and Concentration Risk Information - Business Segments Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 48,831 | $ 27,080 |
Segment loss from operations | (43,188) | (42,231) |
Unallocated operating expenses | 69,022 | 54,884 |
Unallocated other expense, net | (3,978) | (2,563) |
Loss from continuing operations before taxes | (47,166) | (44,794) |
Depreciation and amortization | 1,486 | 1,249 |
Expenditures for tangible long-lived assets | 686 | 1,231 |
Identifiable assets | 158,012 | 91,103 |
Continuing Operations [Member] | ||
Expenditures for tangible long-lived assets | 662 | 1,140 |
Identifiable assets | 158,012 | 83,694 |
Operating Segments [Member] | ||
Segment loss from operations | (43,188) | (42,231) |
Depreciation and amortization | 1,486 | 1,249 |
Operating Segments [Member] | Continuing Operations [Member] | ||
Expenditures for tangible long-lived assets | 662 | 1,140 |
Identifiable assets | 158,012 | 83,694 |
Segment Reconciling Items [Member] | ||
Unallocated operating expenses | ||
Depreciation and amortization | ||
Segment Reconciling Items [Member] | Continuing Operations [Member] | ||
Expenditures for tangible long-lived assets | ||
Identifiable assets | ||
Nuvectra Segment [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 48,831 | 27,080 |
Nuvectra Segment [Member] | Operating Segments [Member] | ||
Segment loss from operations | (43,188) | (42,231) |
Depreciation and amortization | 1,486 | 1,249 |
Nuvectra Segment [Member] | Operating Segments [Member] | Continuing Operations [Member] | ||
Expenditures for tangible long-lived assets | 662 | 1,140 |
Identifiable assets | $ 158,012 | $ 83,694 |
Note 14 - Business Segment, Geo
Note 14 - Business Segment, Geographic and Concentration Risk Information - Sales by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 48,831 | $ 27,080 |
UNITED STATES | ||
Revenue from Contract with Customer, Including Assessed Tax | 46,598 | 24,545 |
SWITZERLAND | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,682 | 1,513 |
GERMANY | ||
Revenue from Contract with Customer, Including Assessed Tax | 141 | 789 |
Rest of World [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 410 | $ 233 |
Note 16 - Recently Issued Acc_2
Note 16 - Recently Issued Accounting Standards (Details Textual) - Accounting Standards Update 2016-02 [Member] - Subsequent Event [Member] $ in Millions | Jan. 01, 2019USD ($) |
Operating Lease, Right-of-Use Asset | $ 1.7 |
Operating Lease, Liability, Total | $ 2.2 |