Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 01, 2020 | Jun. 28, 2019 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | ICAD INC | ||
Entity Central Index Key | 0000749660 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Trading Symbol | ICAD | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Address, State or Province | NH | ||
Entity Shell Company | false | ||
Entity Interactive Data Current | Yes | ||
Title of 12(b) Security | Common Stock | ||
Security Exchange Name | NASDAQ | ||
Entity Common Stock, Shares Outstanding | 21,167,324 | ||
Entity Public Float | $ 112,657,645 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 15,313 | $ 12,185 |
Trade accounts receivable, net of allowance for doubtful accounts of $136 in 2019 and $177 in 2018 | 9,819 | 6,403 |
Inventory, net | 2,611 | 1,587 |
Prepaid expenses and other current assets | 1,453 | 1,045 |
Total current assets | 29,196 | 21,220 |
Property, Plant and Equipment, Net [Abstract] | ||
Equipment | 6,304 | 6,020 |
Leasehold improvements | 62 | 62 |
Furniture and fixtures | 319 | 308 |
Marketing assets | 376 | 376 |
Total property and equipment | 7,061 | 6,766 |
Less accumulated depreciation and amortization | 6,510 | 6,214 |
Net property and equipment | 551 | 552 |
Operating lease assets | 2,406 | |
Other assets | 50 | 53 |
Intangible assets, net of accumulated amortization of $8,186 in 2019 and $7,809 in 2018 | 1,183 | 1,550 |
Goodwill | 8,362 | 8,362 |
Total other assets | 12,001 | 9,965 |
Total assets | 41,748 | 31,737 |
Current liabilities: | ||
Accounts payable | 1,990 | 1,154 |
Accrued and other expenses | 6,590 | 5,060 |
Notes payable - current portion | 4,250 | 1,851 |
Lease payable, short-term portion | 758 | 15 |
Deferred revenue | 5,248 | 5,165 |
Total current liabilities | 18,836 | 13,245 |
Other long-term liabilities | 27 | |
Lease payable long term | 1,837 | 11 |
Deferred revenue, long-term portion | 356 | 331 |
Notes payable, long-term portion | 2,003 | 4,254 |
Convertible debentures payable to non-related parties, at fair value | 12,409 | 6,300 |
Convertible debentures payable to related parties, at fair value | 1,233 | 670 |
Deferred tax | 3 | 3 |
Total liabilities | 36,677 | 24,841 |
Commitments and contingencies (Note 9) | ||
Stockholders' equity: | ||
Preferred stock, $ .01 par value: authorized 1,000,000 shares; none issued | ||
Common stock, $ .01 par value: authorized 30,000,000 shares; issued 19,546,151 in 2019 and 17,066,510 in 2018; outstanding 19,360,320 in 2019 and 16,880,679 in 2018 | 196 | 171 |
Additional paid-in capital | 230,615 | 218,914 |
Accumulated deficit | (224,325) | (210,774) |
Treasury stock at cost, 185,831 shares in 2019 and 2018 | (1,415) | (1,415) |
Total stockholders' equity | 5,071 | 6,896 |
Total liabilities and stockholders' equity | $ 41,748 | $ 31,737 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts on trade accounts receivable | $ 136 | $ 177 |
Intangible assets, accumulated amortization | $ 8,186 | $ 7,809 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 19,546,151 | 17,066,510 |
Common stock, shares outstanding | 19,360,320 | 16,880,679 |
Treasury stock, shares | 185,831 | 185,831 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue: | |||
Total revenue | $ 31,340 | $ 25,621 | $ 28,102 |
Cost of revenue: | |||
Amortization and depreciation | 397 | 403 | 1,037 |
Total cost of revenue | 7,113 | 6,191 | 9,926 |
Gross profit | 24,227 | 19,430 | 18,176 |
Operating expenses: | |||
Engineering and product development | 9,271 | 9,445 | 9,327 |
Marketing and sales | 13,634 | 8,693 | 10,503 |
General and administrative | 7,443 | 9,117 | 7,877 |
Amortization and depreciation | 276 | 305 | 452 |
Gain on sale of MRI assets | (2,508) | ||
Goodwill and long-lived asset impairment | 6,693 | ||
Total operating expenses | 30,624 | 27,560 | 32,344 |
Loss from operations | (6,397) | (8,130) | (14,168) |
Interest expense | (784) | (504) | (124) |
Interest income | 344 | 110 | 18 |
Financing Costs | (451) | ||
Loss on fair value of convertible debentures | (6,671) | ||
Other expense, net | (7,111) | (845) | (106) |
Loss before income tax (benefit) expense | (13,508) | (8,975) | (14,274) |
Income tax (benefit) expense | 43 | 42 | (18) |
Net loss and comprehensive loss | $ (13,551) | $ (9,017) | $ (14,256) |
Net loss per share: | |||
Basic | $ (0.74) | $ (0.54) | $ (0.87) |
Diluted | $ (0.74) | $ (0.54) | $ (0.87) |
Weighted average number of shares used in computing loss per share: | |||
Basic | 18,378 | 16,685 | 16,343 |
Diluted | 18,378 | 16,685 | 16,343 |
Product [Member] | |||
Revenue: | |||
Total revenue | $ 19,767 | $ 13,111 | $ 13,554 |
Cost of revenue: | |||
Total cost of revenue | 3,278 | 2,161 | 2,660 |
Service [Member] | |||
Revenue: | |||
Total revenue | 11,573 | 12,510 | 14,548 |
Cost of revenue: | |||
Total cost of revenue | $ 3,438 | $ 3,627 | $ 6,229 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] |
Beginning Balance at Dec. 31, 2016 | $ 25,038 | $ 163 | $ 213,899 | $ (187,609) | $ (1,415) |
Beginning Balance, shares at Dec. 31, 2016 | 16,260,663 | ||||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations | (241) | $ 4 | (245) | ||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations, shares | 414,319 | ||||
Issuance of common stock pursuant to stock option plans | $ 79 | 79 | |||
Issuance of common stock pursuant to stock option plans, shares | 36,530 | 36,530 | |||
Stock-based compensation | $ 3,656 | 3,656 | |||
Net loss | (14,256) | (14,256) | |||
Ending Balance at Dec. 31, 2017 | 14,276 | $ 167 | 217,389 | (201,865) | (1,415) |
Ending Balance, shares at Dec. 31, 2017 | 16,711,512 | ||||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations | (180) | $ 3 | (183) | ||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations, shares | 265,442 | ||||
Issuance of common stock pursuant to stock option plans | $ 204 | $ 1 | 203 | ||
Issuance of common stock pursuant to stock option plans, shares | 139,556 | 89,556 | |||
Stock-based compensation | $ 1,505 | 1,505 | |||
Net loss | (9,017) | (9,017) | |||
Ending Balance at Dec. 31, 2018 | 6,896 | $ 171 | 218,914 | (210,774) | (1,415) |
Ending Balance, shares at Dec. 31, 2018 | 17,066,510 | ||||
Cumulative impact from the adoption of ASC 606 (see Note 1) | 108 | 108 | |||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations | (196) | $ 2 | (198) | ||
Issuance of common stock relative to vesting of restricted stock shares forfeited for tax obligations, shares | 167,843 | ||||
Issuance of common stock pursuant to stock option plans | $ 1,400 | $ 4 | 1,396 | ||
Issuance of common stock pursuant to stock option plans, shares | 379,980 | 429,980 | |||
Stock Issuance Net | $ 9,353 | $ 19 | 9,334 | ||
Issue of common stock | 1,881,818 | ||||
Stock-based compensation | 1,169 | 1,169 | |||
Net loss | (13,551) | (13,551) | |||
Ending Balance at Dec. 31, 2019 | $ 5,071 | $ 196 | $ 230,615 | $ (224,325) | $ (1,415) |
Ending Balance, shares at Dec. 31, 2019 | 19,546,151 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Shares forfeited for tax obligations | 29,887 | 56,946 | 55,115 |
Common Stock [Member] | |||
Shares forfeited for tax obligations | 29,887 | 56,946 | 55,115 |
Additional Paid-in Capital [Member] | |||
Shares forfeited for tax obligations | 29,887 | 56,946 | 55,115 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flow from operating activities: | |||
Net loss | $ (13,551) | $ (9,017) | $ (14,256) |
Adjustments to reconcile net loss to net cash used for operating activities: | |||
Amortization | 377 | 383 | 494 |
Depreciation | 297 | 325 | 995 |
Bad debt provision | 62 | 225 | 45 |
Inventory obsolescence reserve | 1,052 | ||
Stock-based compensation expense | 1,169 | 1,505 | 3,656 |
Amortization of debt discount and debt costs | 149 | 170 | |
Goodwill and long-lived asset impairment | 6,693 | ||
Interest on settlement obligations | 26 | ||
Deferred tax | 1 | (12) | 8 |
Loss on disposal of assets | 12 | 52 | |
Gain on sale of MRI assets | (2,158) | ||
Change in fair value of convertible debentures | 6,671 | ||
Changes in operating assets and liabilities, net of acquisition: | |||
Accounts receivable | (3,478) | 2,003 | (3,474) |
Inventory | (1,024) | 536 | 554 |
Prepaid and other assets | 294 | 172 | 29 |
Accounts payable | 836 | (209) | (215) |
Accrued and other expenses | 982 | 494 | (505) |
Deferred revenue | 108 | (454) | (333) |
Total adjustments | 6,444 | 5,150 | 6,919 |
Net cash used for operating activities | (7,107) | (3,867) | (7,337) |
Cash flow from investing activities: | |||
Additions to patents, technology and other | (10) | (15) | (5) |
Additions to property and equipment | (296) | (301) | (390) |
Sale of MRI assets | 2,850 | ||
Net cash used for investing activities | (306) | (316) | 2,455 |
Cash flow from financing activities: | |||
Issuance of common stock for cash, net | 9,353 | ||
Stock option exercises | 1,400 | 204 | 79 |
Taxes paid related to restricted stock issuance | (196) | (180) | (241) |
Debt issuance costs | (74) | ||
Proceeds from convertible debentures | 6,970 | ||
Principal payments of capital lease obligations | (16) | (13) | (80) |
Principal repayment of debt financing | (2,000) | 6,000 | |
Proceeds from Line of Credit | 3,000 | ||
Repayment Line of Credit | (1,000) | ||
Net cash provided by financing activities | 10,541 | 6,981 | 5,684 |
Increase in cash and equivalents | 3,128 | 2,798 | 802 |
Cash and equivalents, beginning of period | 12,185 | 9,387 | 8,585 |
Cash and equivalents, end of period | 15,313 | 12,185 | 9,387 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 643 | 294 | 79 |
Taxes paid | 43 | $ 51 | 60 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 3,105 | ||
Escrow due from MRI asset sale | 350 | ||
Equipment purchased under capital lease | $ 42 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | (1) Summary of Significant Accounting Policies (a) Nature of Operations and Use of Estimates iCAD, Inc. and subsidiaries (the “Company” or “iCAD”) is a global medical technology company providing innovative cancer detection and therapy solutions The Company has grown primarily through acquisitions to become a broad player in the cancer detection and therapy market. Its solutions include advanced artificial intelligence and image analysis workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the most prevalent cancers earlier, a comprehensive range of high-performance, upgradeable Computer-Aided Detection (“CAD”) systems and workflow solutions for digital breast tomosynthesis (“DBT”), full-field digital mammography (“FFDM”), MRI and CT, and the Xoft System which is an isotope-free cancer treatment platform technology. CAD is reimbursable in the U.S. under federal and most third-party insurance programs. The Company intends to continue the extension of its image analysis and clinical decision support solutions for DBT, FFDM, MRI and CT imaging. iCAD believes that advances in digital imaging techniques should bolster its efforts to develop additional commercially viable CAD/advanced image analysis and workflow products. The Company’s management believes that early detection in combination with earlier targeted intervention will provide patients and care providers with the best tools available to achieve better clinical outcomes resulting in a market demand that will drive top line growth. The Company’s headquarters are located in Nashua, New Hampshire, with a manufacturing facility in New Hampshire and an operations, research, development, manufacturing and warehousing facility in San Jose, California. The Company operates in two segments: Cancer Detection (“Detection”) and Cancer Therapy (“Therapy”). The Detection segment consists of advanced image analysis and workflow products, and the Therapy segment consists of radiation therapy products. The Company sells its products throughout the world through its direct sales organization as well as through various OEM partners, distributors and resellers. See Note 8 for segment, major customer and geographical information. The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. It is reasonably possible that changes may occur in the near term that would affect management’s estimates with respect to assets and liabilities. (b) Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: Xoft, Inc. and Xoft Solutions, LLC. All material inter-company transactions and balances have been eliminated in consolidation. (c) Cash and cash equivalents The Company defines cash and cash equivalents as all bank accounts, money market funds, deposits and other money market instruments with original maturities of 90 days or less, which are unrestricted as to withdrawal. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances. Insurance coverage is $250,000 per depositor at each financial institution, and the Company’s non-interest (d) Financial instruments Financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, notes payable and convertible debentures. Due to their short term nature and market rates of interest, the carrying amounts of the financial instruments, except the convertible debentures, approximated fair value as of December 31, 2019 and 2018. The Company has elected to record the convertible debentures at fair value at each reporting date in accordance with the fair value option election. See Note 3(b) for further details. (e) Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer obligations due under normal trade terms. Credit limits are established through a process of reviewing the financial history and stability of each customer. The Company performs continuing credit evaluations of its customers’ financial condition and generally does not require collateral. The Company’s policy is to maintain allowances for estimated losses from the inability of its customers to make required payments. The Company’s senior management reviews accounts receivable on a periodic basis to determine if any receivables may potentially be uncollectible. The Company includes any accounts receivable balances that it determines may likely be uncollectible, along with a general reserve for estimated probable losses based on historical experience, in its overall allowance for doubtful accounts. An amount would be written off against the allowance after all attempts to collect the receivable had failed. Based on the information available, the Company believes the allowance for doubtful accounts as of December 31, 2019 and 2018 is adequate. The following table summarizes the allowance for doubtful accounts for the three years ended December 31, 2019 (in thousands): 2019 2018 201 7 Balance at beginning of period $ 177 $ 107 $ 172 Additions charged to costs and expenses 62 225 45 Reductions (103 ) (155 ) (110 ) Balance at end of period $ 136 $ 177 $ 107 (f) Inventory Inventory is valued at the lower of cost or net realizable value, with cost determined by the first-in, first-out respectively. Inventory balances, net of reserves, were as follows: December 31, Dece mber Raw materials $ 1,265 $ 606 Work in process 39 67 Finished Goods 1,307 914 Inventory Net $ 2,611 $ 1,587 (g) Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets or the remaining lease term, if shorter, for leasehold improvements (see below). Estimated life Equipment 3-5 years Leasehold improvements 3-5 Furniture and fixtures 3-5 Marketing assets 3-5 (h) Goodwill In accordance with FASB Accounting Standards Codification (“ASC”) Topic 350-20, “Intangibles—Goodwill and Other” 350-20”), Factors the Company considers important, which could trigger an impairment of such asset, include the following: • significant underperformance relative to historical or projected future operating results; • significant changes in the manner or use of the assets or the strategy for the Company’s overall business; • significant negative industry or economic trends; • significant decline in the Company’s stock price for a sustained period; and • a decline in the Company’s market capitalization below net book value. The Company records an impairment charge when such assessment indicates that the fair value of a reporting unit was less than the carrying value. In evaluating potential impairments outside of the annual measurement date, judgment is required in determining whether an event has occurred that may impair the value of goodwill or intangible assets. The Company utilizes either discounted cash flow models or other valuation models, such as comparative transactions and market multiples, to determine the fair value of reporting units. The Company makes assumptions about future cash flows, future operating plans, discount rates, comparable companies, market multiples, purchase price premiums and other factors in those models. Different assumptions and judgment determinations could yield different conclusions that would result in an impairment charge to income in the period that such change or determination was made. In January 2018, the Company adopted a plan to discontinue offering radiation therapy professional services to practices that provide the Company’s electronic brachytherapy solution for the treatment of non-melanoma The Company elected to early adopt ASU 2017-04, 2017-04”) 2017-04 As a result of the underperformance of the Therapy reporting unit as compared to expected future results, the Company determined there was a triggering event in the third quarter of 2017. As a result, the Company completed an interim impairment assessment. The interim test resulted in the fair value of the Therapy reporting unit being less than the carrying value of the reporting unit. The fair value of the Therapy reporting unit was $3.5 million and the carrying value was $7.5 million. The deficiency of $4.0 million was recorded as an impairment charge in the third quarter of the year ended December 31, 2017. The Company did not identify a triggering event within the Detection reporting unit and accordingly did not perform an interim test. The Company determines the fair value of reporting units based on the present value of estimated future cash flows, discounted at an appropriate risk adjusted rate. This approach was selected as it measures the income producing assets, primarily technology and customer relationships. This method estimates the fair value based upon the ability to generate future cash flows, which is particularly applicable when future profit margins and growth are expected to vary significantly from historical operating results. The Company uses internal forecasts to estimate future cash flows and includes an estimate of long-term future growth rates based on the most recent views of the long-term forecast for the reporting unit. Accordingly, actual results can differ from those assumed in the forecasts. Discount rates are derived from a capital asset pricing model and analyzing published rates for industries relevant to the reporting unit to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in the internally developed forecasts. Other significant assumptions include terminal value margin rates, future capital expenditures, and changes in future working capital requirements. While there are inherent uncertainties related to the assumptions used and to the application of these assumptions to this analysis, the income approach provides a reasonable estimate of the fair value of the Therapy reporting unit. The Company performed the annual impairment assessments at October 1, 2019 and 2018, respectively, and compared the fair value of each reporting unit to its carrying value as of each date. The fair value exceeded the carrying value for the Detection reporting unit as of each date of these impairment assessments. Goodwill for the Therapy reporting unit was fully impaired as of December 31, 2017. As such, the Company did not record any impairment charges for the years ended December 31, 2019 or 2018. The carrying values of the reporting units were determined based on an allocation of the Company’s assets and liabilities through specific allocation of certain assets and liabilities, to the reporting units and an apportionment of the remaining net assets based on the relative size of the reporting units’ revenues and operating expenses compared to the Company as a whole. The determination of reporting units also requires management judgment. The Company determines the fair values for each reporting unit using a weighting of the income approach and the market approach. For purposes of the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk adjusted rate. The Company uses internal forecasts to estimate future cash flows and includes estimates of long-term future growth rates based on the Company’s most recent views of the long-term forecast for each segment. Accordingly, actual results can differ from those assumed in the Company’s forecasts. Discount rates are derived from a capital asset pricing model and by analyzing published rates for industries relevant to the Company’s reporting units to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in its internally developed forecasts. In the market approach, the Company uses a valuation technique in which values are derived based on market prices of publicly traded companies with similar operating characteristics and industries. A market approach allows for comparison to actual market transactions and multiples. It can be somewhat limited in its application because the population of potential comparable publicly-traded companies can be limited due to differing characteristics of the comparative business and the Company, as well as market data may not be available for divisions within larger conglomerates or non-public The Company corroborates the total fair values of the reporting units using a market capitalization approach; however, this approach cannot be used to determine the fair value of each reporting unit value. The blend of the income approach and market approach is more closely aligned to the business profile of the Company, including markets served and products available. In addition, required rates of return, along with uncertainties inherent in the forecast of future cash flows, are reflected in the selection of the discount rate. In addition, under the blended approach, reasonably likely scenarios and associated sensitivities can be developed for alternative future states that may not be reflected in an observable market price. The Company will assess each valuation methodology based upon the relevance and availability of the data at the time the valuation is performed and weights the methodologies appropriately. A rollforward of goodwill activity by reportable segment is as follows (in thousands): Consolidated Detection Therapy Total Accumulated Goodwill 47,937 $ — $ — 47,937 Accumulated impairment (26,828 ) — — (26,828 ) Fair value allocation (21,109 ) 7,663 13,446 — Acquisition of DermEbx and Radion — — 6,154 6,154 Acquisition measurement period adjustme nt s — — 116 116 Acquisition of VuComp — 1,093 — 1,093 Sale of MRI assets — (394 ) (394 ) Impairment — — (19,716 ) (19,716 ) Balance at December 31, 2017 — 8,362 — 8,362 Balance at December 31, 2018 $ — $ 8,362 $ — $ 8,362 Balance at December 31, 2019 $ — $ 8,362 $ — $ 8,362 Accumulated Goodwill $ 47,937 $ 699 $ 6,270 $ 6,969 Fair value allocation (21,109 ) 7,663 13,446 $ 21,109 Accumulated impairment (26,828 ) — (19,716 ) $ (19,716 ) Balance at December 31, 2019 $ — $ 8,362 $ — $ 8,362 (i) Long Lived Assets In accordance with FASB ASC Topic 360, “ Property, Plant and Equipment ASC 360-10-35 360-10-35-21, • A significant decrease in the market price of a long-lived asset (asset group); • A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition; • A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset group), including an adverse action or assessment by a regulator; • An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset (asset group); • A current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group). In accordance with ASC 360-10-35-17, The Company completed an interim goodwill impairment assessment for the Therapy reporting unit in the third quarter of 2017 and noted that there was an impairment of goodwill. As a result, the Company determined this was a triggering event to review long-lived assets for impairment. The Company determined the “Asset Group” to be the assets of the Therapy segment, which the Company considered to be the lowest level for which the identifiable cash flows were largely independent of the cash flows of other assets and liabilities. Accordingly, the Company completed an analysis pursuant to ASC 360-10-35-17 The Company also completed a goodwill assessment in the fourth quarter of 2017, and in connection with that assessment, the Company completed an analysis pursuant to ASC 360-10-35-17 The Company did not record any impairment charges related to long lived assets for the years ended December 31, 2019 or 2018. A considerable amount of judgment and assumptions are required in performing the impairment tests, principally in determining the fair value of the asset group. While the Company believes the judgments and assumptions are reasonable, different assumptions could change the estimated fair values, and, therefore additional impairment charges could be required. Significant negative industry or economic trends, disruptions to the Company’s business, loss of significant customers, inability to effectively integrate acquired businesses, unexpected significant changes or planned changes in use of the assets may adversely impact the assumptions used in the fair value estimates and ultimately result in future impairment charges. Intangible assets subject to amortization consist primarily of patents, technology, customer relationships and trade names purchased in the Company’s previous acquisitions. These assets, which include assets from the acquisition of the assets of VuComp, DermEbx and Radion and the acquisition of Xoft, Inc., are amortized on a straight-line basis consistent with the pattern of economic benefit over their estimated useful lives of 5 to 10 years. A summary of intangible assets for 2019 and 2018 are as follows (in thousands): 2019 2018 Weighted useful life Gross Carrying Amount Patents and licenses $ 581 $ 571 5 years Technology 8,257 8,257 10 years Customer relationships 272 272 7 years Tradename 259 259 10 years Total amortizable intangible assets 9,369 9,359 Accumulated Amortization Patents and licenses $ 520 $ 511 Technology 7,299 6,958 Customer relationships 108 81 Tradename 259 259 Total accumulated amortization 8,186 7,809 Total amortizable intangible assets, net $ 1,183 $ 1,550 Amortization expense related to intangible assets was approximately $377,000, $383,000 and $494,000 for the years ended December 31, 2019, 2018, and 2017, respectively. Estimated remaining amortization of the Company’s intangible assets is as follows (in thousands): Estimated For the years ended amortization December 31: expense 2020 304 2021 226 2022 207 2023 186 2024 103 Thereafter 157 $ 1,183 (j) Revenue Recognition Revenue Recognition Upon Adoption of ASC 606 On January 1, 2018, the Company adopted FASB ASC Topic 606, “Revenue from Contracts with Customers” and all the related amendments (“Topic 606”), using the modified retrospective method for all contracts not completed as of the date of adoption. For contracts that were modified before the effective date, the Company reflected the aggregate effect of all modifications when identifying performance obligations and allocating transaction price in accordance with practical expedient ASC 606-10-65-1-(f)-4, the Company’s The Company the 340-40, The cumulative effect of the changes made to the Company’s consolidated balance sheet for the adoption of Topic 606 were as follows (in thousands): Selected Balance Sheet Balance at Adjustments Due 2014-09 Balance at 2018 Assets Prepaid expenses and other current assets $ 1,100 $ 147 $ 1,247 Liabilities Deferred revenue — 408 408 Contract liabilities 5,910 (369 ) 5,541 Stockholders’ equity Accumulated deficit (201,865 ) 108 (201,973 ) In accordance with the requirements of Topic 606, the disclosure of the impact of the adoption on consolidated balance sheet and statement of operations was as follows (in thousands): As of December 31, 2019 Selected Balance Sheet As Reported Balances without 606 Effect of Change Assets Prepaid expenses and other current assets $ 1,453 $ 1,074 $ (379 ) Liabilities Accrued expenses 6,590 6,590 — Deferred revenue — 167 167 Contract liabilities 5,604 5,437 (167 ) Deferred tax 3 3 — Stockholders’ equity Accumulated deficit (224,325 ) (224,704 ) (379 ) The impact to revenues as a result of applying Topic 606 for the years ended December 31, 2019 and 2018 was an increase of $821,000 and $116,000, respectively (table in thousands). Year ended December 31, 2019 Selected Statement of Operations As Reported Balances without 606 Effect of Change Revenue Products $ 19,767 $ 19,296 $ 471 Service and supplies 11,573 11,223 350 Cost of revenue Products 3,278 3,278 — Service and supplies 3,438 3,438 — Operating expenses Marketing and sales 13,634 14,013 (379 ) Interest expense (784 ) (784 ) — Other income 344 344 — Tax benefit (expense) 43 43 — Net loss (13,551 ) (14,751 ) (1,200 ) In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods or services and excludes any sales incentives or taxes collected from customers which are subsequently remitted to government authorities. To achieve this core principle, the Company applies the following five steps: 1) Identify the contract(s) with a customer 2) Identify the performance obligations in the contract 3) Determine the transaction price 4) Allocate the transaction price to the performance obligations in the contract 5) Recognize revenue when (or as) the Company satisfies a performance obligation The Company recognizes revenue from its contracts with customers primarily from the sale of products and from the sale of services and supplies. Under Topic 606, revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. For product revenue, control has transferred upon shipment provided title and risk of loss have passed to the customer. Services and supplies are considered to be transferred as the services are performed or over the term of the service or supply agreement. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company’s hardware is generally highly dependent on, and interrelated with, the underlying software and the software is considered essential to the functionality of the product. In these cases, the hardware and software license are accounted for as a single performance obligation and revenue is recognized at the point in time when ownership is transferred to the customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control of a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of revenue. The Company continues to provide for estimated warranty costs on original product warranties at the time of sale. Disaggregation of Revenue The following tables presents the Company’s revenues disaggregated by major good or service line, timing of revenue recognition and sales channel, reconciled to its reportable segments (in thousands). Year ended December 31, 2019 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 16,788 $ 4,957 $ 21,745 Service contracts 5,370 1,814 7,184 Supply and source usage agreements — 2,036 2,036 Professional services — 153 153 Other 161 61 222 $ 22,319 $ 9,021 $ 31,340 Timing of Revenue Recognition Goods transferred at a point in time $ 16,949 $ 5,391 $ 22,340 Services transferred over time 5,370 3,630 9,000 $ 22,319 $ 9,021 $ 31,340 Sales Channels Direct sales $ 11,968 $ 5,804 $ 17,772 OEM partners 10,351 — 10,351 Channel partners — 3,217 3,217 $ 22,319 $ 9,021 $ 31,340 Total Revenue Revenue from contracts with customers $ 22,319 $ 9,021 $ 31,340 Revenue from lease component s — — — $ 22,319 $ 9,021 $ 31,340 Year ended December 31, 2018 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 10,783 $ 4,393 $ 15,176 Service contracts 5,311 1,450 6,761 Supply and source usage agreements — 2,261 2,261 Professional services — 264 264 Other 229 389 618 $ 16,323 $ 8,757 $ 25,080 Timing of Revenue Recognition Goods transferred at a point in time $ 10,835 $ 4,676 $ 15,511 Services transferred over time 5,488 4,081 9,569 $ 16,323 $ 8,757 $ 25,080 Sales Channels Direct sales force $ 8,335 $ 7,554 $ 15,889 OEM partners 7,988 — 7,988 Channel partners — 1,203 1,203 $ 16,323 $ 8,757 $ 25,080 Total Revenue Revenue from contracts with customers $ 16,323 $ 8,757 $ 25,080 Revenue from lease components 541 — 541 $ 16,864 $ 8,757 $ 25,621 Year ended December 31, 2017(1) Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 11,650 $ 4,763 $ 16,413 Service contracts 5,687 1,482 7,169 Supply and source usage agreements — 1,956 1,956 Professional services — 254 254 Other 388 1,337 1,725 $ 17,725 $ 9,792 $ 27,517 Timing of Revenue Recognition Goods transferred at a point in time 11,684 5,266 $ 16,950 Services transferred over time 6,041 4,526 10,567 $ 17,725 $ 9,792 $ 27,517 Sales Channels Direct sales force $ 7,787 $ 8,354 $ 16,141 OEM partners 9,938 — 9,938 Channel partners — 1,438 1,438 $ 17,725 $ 9,792 $ 27,517 Total Revenue Revenue from contracts with customers $ 17,725 $ 9,792 $ 27,517 Revenue from lease components 585 — 585 $ 18,310 $ 9,792 $ 28,102 (1) As noted above, prior period amounts have not been adjusted under the modified retrospective method. Products Service Contracts Upon the adoption of ASC 842, effective January 1, 2019, the lease components of certain fixed fee service contracts are no longer being separately accounted for under the lease guidance, and the entire contract is being accounted for under ASC 606. Upon the adoption of ASC 606, effective January 1, 2018, and until the adoption of ASC 842 referred to above, these lease components were accounted for as a lease in accordance with ASC 840, “ Leases non-lease s Supply and Source Usage Agreements Professional Services Other manufacturing or warehouse facility to the customer. Significant Judgments The Company’s contracts with customers may include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. For arrangements with multiple performance obligations, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company generally determines standalone selling prices based on the prices charged to customers and uses a range of amounts to estimate standalone selling prices when sells The Company may provide credits or incentives to customers, which are accounted for as variable consideration when estimating the transaction price of the contract and amounts of revenue to recognize. The amount of variable consideration to include in the transaction price is estimated at contract inception using either the estimated value method or the most likely amount method based on the nature of the variable consideration. These estimates are updated at the end of each reporting period as additional information becomes available and revenue is recognized only to the extent that it is probable that a significant reversal of any amounts of variable consideration included in the transaction price will not occur. The Company provides for estimated warranty costs on original product warranties at the time of sale. Contract Balances Contract liabilities are a component of deferred revenue, and contract assets are a component of prepaid and other current assets. The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers (in thousands). Contract balances Balance at Balance at December 31, December 31, 2019 2018 Receivables, which are included in ‘Trade accounts receivable’ $ 9,819 $ 6,252 Contract assets, which are included in “Prepaid and other current assets” 14 19 Contract liabilities, which are included in “Deferred revenue” 5,604 5,209 Timing of revenue recognition may differ from timing of invoicing to customers. The Company records a receivable when revenue is recognized prior to receipt of cash payments and the Company has the unconditional right to such consideration, or unearned revenue when cash payments are received or due in advance of The opening balance of accounts receivable from contracts with customers, net of allowance for doubtful accounts, was $8.5 million as of January 1, 2018. As of December 31, 2019 , The Company records a contract asset for unbilled revenue when the Company’s performance is in excess of amounts billed or billable. The Company has classified the contract asset balance as a component of prepaid expenses and other current assets as of January 1, 2018, December 31, 2018 and December 31, 2019. The opening balance of contract assets was $166,000 as of January 1, 2018. As of December 31, 2019 , Deferred revenue from contracts with customers is primarily composed of fees related to long-term service arrangements, which are generally billed in advance. Deferred revenue also includes payments for installation and training that has not y e the C it s December 31, 2018 Contract Lease revenue Total Short term $ 4,885 $ 280 $ 5,165 Long term 324 7 331 Total $ 5,209 $ 287 $ 5,496 Contract December 31, 2019 liabilities Short term $ 5,248 Long term 356 Total $ 5,604 Changes in deferred revenue from contracts with customers were as follows (in thousands): Year Ended Year Ended December 31, December 31, 2019 2018 Balance at beginning of period $ 5,209 $ 5,541 Adoption adjustment — 39 Deferral of revenue 11,005 9,993 Recognition of deferred revenue (10,610 ) (10,364 ) Balance at end of period $ 5,604 $ 5,209 The Company s 20 1 Assets Recognized from the Costs to Obtain a Contract with a Customer The Company recognizes it s The Company has Changes in the balance of capitalized costs to obtain a contract were as follows (in thousands): Years Ended December 31, 2019 2018 Balance at beginning of period $ 282 $ 117 Deferral of costs to obtain a contract 294 368 Recognition of costs to obtain a contract (197 ) (203 ) Balance at end of period $ 379 $ 282 Practical Expedients and Exemptions The Company has elected to make the following accounting policy elections through the adoption of the following practical expedients: Right to Invoice Where applicable, the Company will recognize revenue from a contract with a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date and the amount to which the entity has a right to invoice. Sales and Other Similar Taxes The Company will exclude sales taxes and similar taxes from the measurement of transaction price and will ensure that it complies with the disclosure requirements of ASC 235-10-50-1 50-6. Significant Financing Component The Company will not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Cost to Obtain a Contract The Company will recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less and there are no renewal periods on which the Company does not pay commissions that are not commensurate with those originally paid. Promised Goods or Services that are Immaterial in the Context of a Contract The Company has elected to assess promised goods or services as performance obligations that are deemed to be immaterial in the context of a contract. As such, the Company will not |
Sale of MRI Assets
Sale of MRI Assets | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Sale of MRI Assets | (2) Sale of MRI Assets In December 2016, the Company entered into an Asset Purchase Agreement with Invivo Corporation (“Invivo”) . In accordance with the agreement, the Company sold to Invivo all right, title and interest to certain intellectual property relating to the Company’s VersaVue Software and DynaCAD product and related assets for $3.2 million. The Company closed the transaction on January 30, 2017 less a holdback reserve of $350,000 for a net of approximately $2.9 million. The holdback reserve of $350,000 has been recorded as an asset in other assets and will be paid to the Company within eighteen months from the closing date, less amounts, if any, due and payable or reserved under the indemnification provisions in the Asset Purchase agreement see Note 9(f) Litigation The Company determined the sale constituted the sale of a business in accordance with ASC 805. The Company performed an evaluation to determine if the sale constituted discontinued operations and concluded that the sale did not represent a major strategic shift, and accordingly it was not considered to be discontinued operations. In connection with the transaction, the Company allocated $394,000 of goodwill which was a component of the gain on the sale. The allocation was based on the fair value of the assets sold relative to the fair value of the Detection reporting unit as of the date of the agreement, based on the guidance from ASC 350-20-40-3. The value of the net assets sold is as follows (in thousands): In connection with the sale the Company agreed to provide certain transition services to Invivo. The fair value of the transition services were determined based on the cost to provide plus a reasonable profit margin and have been recognized as revenue over the term of approximately ninety days from the closing date. The Company recorded a gain on the sale of $2.5 million during the year ended December 31, 2017. The components of the gain on the sale are as follows (in thousands): Gain on Sale Cash received $ 2,850 Holdback reserve 350 Fair value of transition services (118 ) Net Assets sold (574 ) Total $ 2,508 |
Financing Arrangements
Financing Arrangements | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | (3) Financing Arrangements (a) Loan and Security Agreement On August 7, 2017, the Company entered into a Loan and Security Agreement, which has been modified by the First Loan Modification Agreement dated as of March 22, 2018, the Second Loan Modification Agreement dated as of August 13, 2018, the Third Loan Modification Agreement dated as of December 20, 2018, the Fourth Loan Modification Agreement, dated as of March 15, 2019 and the Fifth Loan Modification Agreement, dated as of November 1, 2019 (collectively, the “Loan Agreement”) with Silicon Valley Bank (the “Bank”) that provided an initial term loan facility (amounts borrowed thereunder, the “Initial Term Loan”) of $6.0 million and a $4.0 million revolving line of credit (amounts borrowed thereunder, the “Revolving Loans”). The Company also had the option to borrow an additional $3.0 million term loan under the Loan Agreement (amounts borrowed thereunder, the “Subsequent Term Loan” and together with the Initial Term Loan, the “Term Loan”), subject to meeting a Detection revenue minimum of at least $21.5 million for a trailing twelve month period ending on or prior to September 30, 2019. The Company began repayment of the Initial Term Loan on March 1, 2019, with 30 equal monthly installments of principal, based on the amended terms of the Loan Agreement. The maturity date of the Initial Term Loan is August 1, 2021. The maturity date of the Revolving Loans is March 1, 2022. However, the maturity date will become April 30, 2020 or April 30, 2021 if on or before March 31, 2020 or 2021, as applicable, the Company does not agree in writing to the revenue and adjusted EBITDA (as defined in the Loan Agreement) covenant levels negotiated with the Bank with respect to the upcoming 2020 or 2021 calendar year. The Company has drawn of If the Revolving Loans are paid in full and the Loan Agreement is terminated prior to the maturity date, then the Company will pay to the Bank a termination fee in an amount equal to two percent (2.0%) of the maximum revolving line of credit. If the Company prepays the Term Loans prior to the maturity date, then the Company will pay to the Bank an amount equal to 1.0% to 3.0% of the Term Loans, depending on when such Term Loans are repaid. In addition, the Loan Agreement requires the Company to pay a final payment of 8.5% of the Term Loans (which was increased by the Second Loan Modification Agreement from 8.0%) upon the earliest of the repayment of the Term Loans, the termination of the Loan Agreement and the maturity date. The Company is accruing such payment as additional interest expense. As of December 31, 2019 , was The Loan Agreement, as amended, required the Company to maintain minimum consolidated revenues during the trailing six month period ending on December 31, 2019 of $14.5 million, and adjusted EBITDA during the trailing six month period ending on December 31, 2019 of $(4 million). In addition, the Company and the Bank will be required to negotiate the covenants for the 2020 and 2021 fiscal years by March 31, 2020 and March 15, 2021, respectively. A failure to agree to such covenants by the specified dates in the agreements could lead to an acceleration of the amounts outstanding under the Loan Agreement to either April 30, 2020 or April 30, 2021, respectively. The Company is in compliance with the covenants for the trailing six month period ended December 31, 2019. Obligations to the Bank under the Loan Agreement or otherwise are secured by a first priority security interest in substantially all of the assets, including intellectual property, accounts receivable, equipment, general intangibles, inventory and investment property, and all of the proceeds and products of the foregoing, of each of the Company and Xoft, Inc. and Xoft Solutions LLC, wholly-owned subsidiaries of the Company. In connection with the Loan Agreement and subsequent thereto The Company has evaluated the accounting impact of each of the modifications noted above, and has combined any modifications which occurred within a 12 month period, for the purposes of such evaluation, where applicable. The Company has determined that modifications occurring at each modification date above are modifications of the Loan Agreement for accounting purposes. As such, the Company has capitalized any closing costs paid to the Bank as part of the modifications and has expensed any third - The carrying value of the Initial Term Loans and Revolving Loans as of December 31, 2019 and 2018 is as follows (in thousands): December 31, 2019 December 31, 2018 Principal Amount of Term Loan $ 4,000 $ 6,000 Unamortized closing costs (40 ) (58 ) Accrued Final Payment 293 163 Amount Drawn on Line of Credit 2,000 — Carrying amount of Term Loan 6,253 6,105 Less current portion of Term Loan (4,250 ) (1,851 ) Notes payable long-term portion $ 2,003 $ 4,254 (b) Convertible Debentures On December 20, 2018, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain institutional and accredited investors, including, but not limited to, all then current directors and executive officers of the Company (the “Investors”), pursuant to which the Investors agreed to purchase unsecured subordinated convertible debentures (the “Convertible Debentures”) with an aggregate principal amount of approximately $7.0 million in a private placement. On June 21, 2019, the comm enced paying At any time prior to the maturity date, the Convertible Debentures are convertible into shares of the Company’s common stock at a conversion price of $4.00 per share, at the Investor’s option, subject to certain anti-dilution adjustments. The Convertible Debentures contain a cap of shares to be issued upon the conversion of the Convertible Debentures at 19.99% of the issued and outstanding shares of the Company’s c s The Investors also have the right to require the Company to repurchase the Convertible Debentures, at a repurchase price that would be at least 115% of the then outstanding principal, plus any accrued but unpaid interest, upon the occurrence of an event of default, as defined in the SPA. The Convertible Debentures will also accrue interest upon an event of default at a rate of the lesser of 10.0% or the maximum permitted by law. The Convertible Debentures also include certain liquidated damages provisions, whereby the Company will be required to compensate the Investors for certain contingent events, such as the failure to timely deliver conversion shares of common stock, failure to timely pay any accrued interest when due and failure to timely report public information. The Convertible Debentures are unsecured and structurally subordinated to the Company’s existing indebtedness. In connection with the issuance of the Convertible Debentures, all of the Company’s subsidiaries entered into a Subsidiary Guarantee, dated December 20, 2018, for the benefit of the Investors, pursuant to which all the subsidiaries guaranteed the Company’s payments under the Convertible Debentures. In connection with the issuance, on December 20, 2018, the Company entered into a registration rights agreement with the Investors, pursuant to which the Company agreed to file a registration statement with the Securities and Exchange Commission (“SEC”) to register the resale of shares of common stock underlying the Convertible Debentures on or prior to January 31, 2019. The Company filed the required registration statement with the SEC on January 31, 2019. Certain Investors in the Convertible Debentures included the then current directors and employees of the Company. These related parties comprise approximately 9% of the current principal value of the Convertible Debentures, or $630,000. The Convertible Debentures issued to the related parties have substantially the same rights and provisions as the unrelated third party investors, with the exception of certain terms where the related parties received less favorable terms than the unrelated third parties (such as with determination of the make whole conversion rate, as defined in the SPA; or limits on the impact of potential ‘down-round’ adjustments to the conversion price). In connection with the issuance of the Convertible Debentures, the Company incurred approximately $503,000 in issuance costs related to placement agent fees and third party legal fees. The Company initially evaluated the required accounting for the Convertible Debentures under ASC Topic 470, “ Debt Distinguishing Liabilities from Equity Derivatives and Hedging one-time, Financial Instruments In accordance the Company’s election of the fair value option, the Company expensed the approximately $503,000 in issuance costs incurred related to the Convertible Debentures during the year ended December 31, 2018. Fair Value Measurements Related to the Convertible Debentures The Company utilized a Monte Carlo simulation model to estimate the fair value of the Convertible Debentures as of their issuance date, as of December 31, 2018 and at each quarterly reporting period thru December 31, 2019. The simulation model is designed to capture the potential settlement features of the Convertible Debentures (the embedded features described above), in conjunction with simulated changes in the Company’s stock price and the probability of certain events occurring. The simulation utilizes 100,000 trials or simulations to determine the estimated fair value. The simulation utilizes the assumptions that if the Company is able to exercise its Forced Conversion right (if the requirements to do so are met), that it will do so in 100% of such scenarios. Additionally, if an event of default occurs during the simulated trial (based on the Company’s probability of default), the Investors will opt to redeem the Convertible Debentures in 100% of such scenarios. If neither event occurs during a simulated trial, the simulation assumes that the Investor will hold the Convertible Debentures until the maturity date. The value of the cash flows associated with each potential settlement are discounted to present value in each trial based on either the risk free rate (for an equity settlement) or the effective discount rate (for a redemption or cash settlement). The Company notes that the key inputs to the simulation model that were utilized to estimate the fair value of the Convertible Debentures at each valuation date included: Input December 21, 2018 December 31, 2018 December 31, 2019 Company’s stock price $ 3.68 $ 3.70 $ 7.77 Conversion price 4.00 4.00 4.00 Remaining term (years) 3.00 2.97 1.97 Equity volatility 54.00 % 54.00 % 49.00 % Risk free rate 2.58 % 2.46 % 1.57 % 1 Probability 0.75 % 0.81 % 0.45 % 1 Utilization of Forced Conversion (if available) 100.00 % 100.00 % 100.00 % 1 Exercise of Default Redemption (if available) 100.00 % 100.00 % 100.00 % 1 Effective discount rate 21.90 % 21.90 % 18.52 % 1 Represents a Level 3 unobservable input, as defined in Note 8 - The Company’s stock price is based on the closing stock price on the valuation date. The conversion price is based on the contractual conversion price included in the SPA. The remaining term was determined based on the remaining time period to maturity of the Convertible Debentures. The Company’s equity volatility estimate was based on the Company’s historical equity volatility, the Company’s implied and observed volatility of option pricing, and the historical equity and observed volatility of option pricing for a selection of comparable guideline public companies. The risk free rate was determined based on U.S. Treasury securities with similar terms. The probability of the occurrence of a default event was based on Bloomberg’s 1 year estimate of default risk for the Company (extrapolated over the remaining term). The utilization of the Forced Conversion right and the default redemption right is based on management’s best estimate of both features being exercised upon the occurrence of the related contingent events. The effective discount rate utilized at the December 21, 2018 and December 31, 2018 valuation dates was solved for utilizing the simulation model based on the principal value of the Convertible Debentures, as the transaction was determined to represent an ‘arm’s length’ transaction. The effective discount was corroborated against market yield data which implied the Company’s credit rating, and this implied credit rating will be utilized to determine the changes in the effective discount rate at future valuation dates. The effective discount rate utilized at the December 31, 2019 valuation date was based on yields on CCC-rated As of the issuance date of the Convertible Debentures (December 21, 2018) and the valuation dates of December 31, 2019 and 2018, respectively, the fair value and principal value of the Convertible Debentures was: Convertible December 21, 2018 December 31, 2018 December 31, 2019 Fair value, in accordance with fair value option $ 6,970 $ 6,970 $ 13,642 Principal value outstanding $ 6,970 $ 6,970 $ 6,970 The Company recorded a loss due to the change in fair value of the Convertible Debentures of $6.7 million during the year ended December 31, 2019. The full amount of this loss on the change in fair value was recorded in other expense, net, as the Company did not identify any portion of the fair value adjustment as relating to the Company’s own credit risk. The Company did not record any gains or losses from the change in fair value of the Convertible Debentures between their issuance date and December 31, 2018. See also additional fair value disclosures related to the Convertible Debentures in Note 1(r) above. On February 21, 2020 (the “Conversion Date”), the Company elected to exercise its forced conversion right under the terms of the Convertible Debentures. As a result of this election, all of the outstanding Convertible Debentures were converted, at a conversion price of $4.00 shares of the Company’s common stock. In accordance with the m w p $59,000 of accrued interest through the Conversion Date, plus the interest from the Conversion Date th r ough of $638,000 . Pursuant to the terms of the Convertible Debentures, the issuance of the conversion shares shall be completed on March 20, 2020 by delivering any additional shares of Common Stock issuable upon a decrease in the volume weighted average price of our Common Stock in the intervening period. (c) Principal and Interest Payments Related to Financing Arrangements Future principal and interest payments related to the Loan Agreement and Convertible Debentures are as follows (in thousands): Fiscal Year Amount Due 2020 $ 4,889 2021 $ 9,457 Total $ 14,346 The following amounts are included in interest expense in the Company’s consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 Cash interest expense, notes payable $ 274 $ 299 $ 98 Cash interest expense, convertible debentures 349 9 — Amortization of debt costs 28 29 9 Accrual of notes payable final payment 131 163 — Amortization of settlement obligations — — 26 Interest expense capital lease 2 4 1 Capital lease - — — (10 ) Total interest expense $ 784 $ 504 $ 124 Cash interest expense, notes payable, represents the cash interest paid monthly related to the Loan Agreement. Cash interest expense, convertible debentures represents cash interest paid or accrued in connection with the Convertible Debentures issued in December 2018. Interest payments are due to the holders of the Convertible Debentures in June and December of each year. The amortization of debt costs represents the closing costs incurred with the Loan Agreement, which have been capitalized and expensed using the effective interest method. The amortization of the settlement obligations represents the interest associated with the settlement agreement for Carl Zeiss Meditec (“Zeiss”). See Note 9(e) to the Company’s Consolidated Financial Statements. |
Accrued and Other Expenses
Accrued and Other Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Payables and Accruals [Abstract] | |
Accrued and Other Expenses | (4) Accrued and Other Expenses Accrued and other expenses consist of the following at December 31 (in thousands): 2019 2018 Accrued salary and related expenses $ 3,200 $ 1,811 Accrued accounts payable 2,718 2,329 Accrued professional fees 510 737 Other accrued expenses 162 91 Deferred rent 92 $ 6,590 $ 5,060 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Leases | (5) Leases Under ASC 842, the Company determines if an arrangement contains a lease at inception. A lease is a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment (i.e., an identified asset) for a period of time in exchange for consideration. Leases are classified as either operating or financing. At lease inception, the Company recognizes a lease liability equal to the present value of the remaining lease payments, and a right of use asset equal to the lease liability, subject to certain adjustments, such as for lease incentives. The Company used its incremental borrowing rate to determine the present value of the lease payments. The Company determined the incremental borrowing rates for its leases by applying its applicable, fully collateralized borrowing rate, with adjustment as appropriate for lease term. The lease term at the lease commencement date is determined based on the non-cancellable Right-of-use non-lease non-lease ASC 842 includes a number of reassessment and re-measurement re-measurement right-of-use 360-10. Certain of the Company’s leases include variable lease costs to reimburse the lessor for real estate tax and insurance expenses, and certain non-lease non-lease The Company has leases for office space and office equipment. The leases have remaining lease terms ranging from less than one year to three years and three months as of December 31, 2019. The components of lease expense for the period are as follows (in thousands): Year Ended Lease Cost Classification December 31, 2019 Operating lease cost - Operating expenses $ 804 Operating lease cost - Operating expenses 173 Finance lease costs Amortization of leased assets Amortization and depreciation 15 Interest on lease liabilities Interest expense 2 Total $ 994 Other information related to leases was as follows (in thousands): 2019 Cash paid for operating cash flows from operating leases $ 840 Cash paid for operating cash flows from finance leases 2 Cash paid for financing cash flows from finance leases 17 2019 Weighted-average remaining lease term of operating leases (in years) 3.12 Weighted-average remaining lease term of finance leases (in years) 1.00 Weighted-average discount rate for operating leases 5.6 % Weighted-average discount rate for finance leases 5.4 % Maturities of the Company’s lease liabilities as of December 31, 2019 was as follows (in thousands): Year Ended December 31: Operating Finance Leases Total 2020 873 13 886 2021 875 — 875 2022 881 — 881 2023 201 — 201 Total lease payments 2,830 13 2,843 Less: imputed interest (247 ) (1 ) (248 ) Total lease liabilities 2,583 12 2,595 Less: current portion of lease liabilities (746 ) (12 ) (758 ) Long-term lease liabilities $ 1,837 $ — $ 1,837 On August 12, 2019, the Company amended its San Jose facility lease. This amendment extended the term from March 31, 2020 to March 31, 2023 and resulted in an additional obligation of $1.9 million. On December 5, 2019, the Company amended its Nashua, NH headquarters lease. This amendment extended the term from February 29, 2020 to February 28, 2023 and resulted in an additional obligation of $0.6 million. On January 22, 2020, the Company amended its facilities lease in Nashua, NH extending the term to March 31, 2022 resulting in an additional obligation of $70,000 after year end. The cumulative effect of the changes made to the Company’s consolidated balance sheet for the adoption of Topic 842 were as follows (in thousands): Selected Balance Sheet Balance at Adjustments Due to Balance at January 1, Assets Operating lease assets $ — $ 907 $ 907 Liabilities Deferred rent, current portion (within accrued expenses) 92 (92 ) — Deferred rent, long-term portion (within other long-term liabilities) 27 (27 ) — Lease payable - 15 780 795 Lease payable, long-term portion 38 179 217 In connection with the adoption of ASC 842, the Company recorded an immaterial expense of $14,000 in the year ended December 31, 2019 which would have been an opening retained earnings adjustment. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Federal Home Loan Banks [Abstract] | |
Stockholders' Equity | (6) Stockholders’ Equity (a) Financing Activity In June 2019, the Company completed an underwritten public offering of 1,881,818 shares of common stock. The Company received net proceeds from this offering of approximately $9.4 million, after deducting underwriting and other offering expenses. (b) Stock Options The Company has two effective stock option or stock incentive plans which are described as follows: The 2012 Stock Incentive Plan (the “2012 Plan”). The 2012 Plan was adopted by the Company’s stockholders in May 2012 and amended in May 2014. The 2012 Plan, as amended, provides for the grant of any or all of the following types of awards: (a) stock options, (b) restricted stock, (c) deferred stock and (d) other stock-based awards. Awards may be granted singly, in combination, or in tandem. Subject to anti-dilution adjustments as provided in the amended 2012 Plan, (i) the amended 2012 Plan provides for a total of 1,600,000 shares of the Company’s common stock to be available for distribution pursuant to the amended 2012 Plan, and (ii) the maximum number of shares of the Company’s common stock with respect to which stock options, restricted stock, deferred stock, or other stock-based awards may be granted to any participant under the amended 2012 Plan during any calendar year or part of a year may not exceed 250,000 shares. The 2012 Plan provides that it will be administered by the Company’s Board of Directors or a committee of two or more directors appointed by the Board of Directors. The administrator will generally have the authority to administer the 2012 Plan, determine participants who will be granted awards under the 2012 Plan, the size and types of awards, the terms and conditions of awards and the form and content of the award agreements representing awards. . With respect to options granted under the 2012 Plan, the exercise price must be at least 100% (110% in the case of an incentive stock option granted to a 10% stockholder) of the fair market value of the common stock subject to the award, determined as of the date of grant. Restricted stock awards are shares of common stock that are awarded subject to the satisfaction of the terms and conditions established by the administrator. In general, awards that do not require exercise may be made in exchange for such lawful consideration, including services, as determined by the administrator. At December 31, 2019, there were 98,938 shares available for issuance under the 2012 Plan. The 2016 Stock Incentive Plan (the “2016 Plan”). The 2016 Plan was adopted by the Company’s stockholders in May 2016 and amended in November 2018. The 2016 Plan provides for the grant of any or all of the following types of awards: (a) non-qualified Subject to anti-dilution adjustments as provided in the 2016 Plan, (i) the amended 2016 Plan provides for a total of 2,600,000 shares of the Company’s common stock to be available for distribution pursuant to the 2016 Plan, and (ii) the maximum number of shares of the Company’s common stock with respect to which stock options or stock appreciation rights may be granted to any one individual under the 2016 Plan during any one calendar year period may not exceed 1,000,000 shares. No more than 1,000,000 shares of common stock may be issued in the form of incentive stock options and no more than 120,000 shares of stock may be issued pursuant to awards to non-employee The 2016 Plan provides that it will be administered by the Company’s Compensation Committee. The Compensation Committee has the authority to administer the 2016 Plan, determine participants, from among the individuals eligible for awards, who will be granted awards under the 2016 Plan, make any combination of awards to participants and determine the specific terms and conditions of awards subject to the 2016 Plan. Awards under the 2016 Plan may be granted to full or part-time officers, employees, non-employee With respect to stock options granted under the 2016 Plan, the exercise price will be determined by the Compensation Committee but may not be less than 100% of the fair market value of the common stock subject to the award, determined as of the date of grant. Regarding incentive stock options, including that the aggregate grant date fair market value of the shares of stock with respect to which incentive stock options granted under the 2016 Plan and any other plan of the Company or its parent and subsidiary corporations become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000. To the extent that any incentive stock option exceeds this limit, it shall constitute a non-qualified A summary of stock option activity for all stock option plans is as follows: Number of Weighted Weighted Outstanding, January 1, 2017 1,425,348 $ 5.05 Granted 200,813 $ 4.14 Exercised (36,530 ) $ 2.18 Forfeited (124,516 ) $ 4.71 Outstanding, December 31, 2017 1,465,115 $ 5.03 Granted 888,263 $ 2.95 Exercised (139,556 ) $ 2.27 Forfeited (230,345 ) $ 5.41 Outstanding, December 31, 2018 1,983,477 $ 4.25 Granted 392,270 $ 5.81 Exercised (379,980 ) $ 3.39 Forfeited (445,105 ) $ 6.06 Outstanding, December 31, 2019 1,550,662 $ 4.33 5.0 Y Exercisable at December 31, 2017 1,301,651 $ 4.95 Exercisable at December 31, 2018 1,296,439 $ 4.90 Exercisable at December 31, 2019 881,461 $ 4.43 4.0 Y There were 932,546 shares available for future grants from all plans at December 31, 2019. The Company’s stock-based compensation expense, including options and restricted stock by category is as follows (amounts in thousands): Year Ended December 31, 2019 2018 2017 Cost of revenue $ 3 $ 4 $ 5 Engineering and product development 226 399 715 Marketing and sales 226 190 1,003 General and administrative expense 713 912 1,933 $ 1,168 $ 1,505 $ 3,656 As of December 31, 2019, there was $1.2 million of total unrecognized compensation costs related to unvested options and restricted stock. That cost is expected to be recognized over a weighted average period of 0.9 years. Options granted under the stock incentive plans were valued utilizing the Black-Scholes model using the following assumptions and had the following fair values: Year Ended December 31, 2019 2018 2017 Average risk-free interest rate 1.88 % 2.65 % 1.61 % Expected dividend yield None None None Expected life 3.5 years 3.5 years 3.5 years Expected volatility 50.01% to 54.23 % 50.4% to 61.6 % 64.2% to 72.0 % Weighted average exercise price $ $ $ Weighted average fair value $ $ $ The Company’s 2019, 2018 and 2017 average expected volatility and average expected life is based on the average of the Company’s historical information. The risk-free rate is based on the rate of U.S. Treasury zero-coupon . Intrinsic values of options (in thousands) and the closing market price used to determine the intrinsic values are as follows: Intrinsic value of stock options Years Ended December 31, 2019 2018 2017 Outstanding $ 5,465 $ 1,021 $ 449 Exercisable 3,067 499 442 Exercised 509 224 79 Company’s stock price at December 31 $ 7.77 $ 3.70 $ 3.44 (c) Restricted Stock The Company’s restricted stock awards typically vest in either one year or three equal annual installments with the first installment vesting one year from grant date. The Company granted a total of 162,500 shares of performance-based restricted stock during 2016 with performance measured on meeting a revenue target based on growth for fiscal year 2017 and vesting in three equal installments with the first installment vesting upon measurement of the goal. In addition, a maximum of 108,333 additional shares are available to be earned based on exceeding the revenue goal. The revenue target was partially exceeded and 189,583 shares were granted with initial vesting of 63,194 at the grant date in April 2018, and 63,194 vesting on the second and third anniversary of the initial vesting. The Company granted an additional 15,990 shares with time based vesting during the year ended December 31, 2019. The Company granted 334,083 shares with time based vesting (including the additional shares described in the preceding paragraph) and 45,356 shares with immediate vesting during the year ended December 31, 2018. The Company granted 183,500 restricted shares with time based vesting and 211,099 shares with immediate vesting during the year ended December 31, 2017. A summary of restricted stock activity for all equity incentive plans is as follows: Years Ended December 31, 2019 2018 2017 Beginning outstanding balance 423,202 415,147 511,398 Granted 15,990 379,439 394,599 Vested (197,730 ) (322,388 ) (469,434 ) Forfeited (90,553 ) (48,996 ) (21,416 ) Ending outstanding balance 150,909 423,202 415,147 Intrinsic values of restricted stock (in thousands) and the closing market price used to determine the intrinsic values are as follows: Years Ended December 31, 2019 2018 2017 Outstanding $ 1,173 $ 1,566 $ 1,428 Vested 1,536 1,193 1,615 Company’s stock price at December 31 $ 7.77 $ 3.70 $ 3.44 ( d) Employee Stock Purchase Program: In December 2019, the Company’s Board of Directors adopted and the stockholders approved the 2019 Employee Stock Purchase Plan (“ESPP”), effective January 1, 2020. The ESPP provides for the issuance of up 950,000 shares of common stock, subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. The ESPP may be terminated or amended by the Board of Directors at any time. Certain amendments to the ESPP require stockholder approval. Substantially all of the Company’s employees whose customary employment is for more than 20 hours a week are eligible to participate in the ESPP. Any employee who owns 5% or more of the voting power or value of the Company’s shares of common stock is not eligible to purchase shares under the ESPP. Any eligible employee can enroll in the Plan as of the beginning of a respective quarterly accumulation period. Employees who participate in the ESPP may purchase shares by authorizing payroll deductions of up to 15% of their base compensation during an accumulation period. Unless the participating employee withdraws from participation, accumulated payroll deductions are used to purchase shares of common stock on the last business day of the accumulation period (the “Purchase Date”) at a price equal to 85% of the lower of the fair market value on (i) the Purchase Date or (ii) the first day of such accumulation period. Under applicable tax rules, no employee may purchase more than $25,000 worth of common stock, valued at the start of the purchase period, under the ESPP in any calendar year. No shares had been issued under the ESPP as of December 31, 2019. The first accumulation period under the ESPP commenced on January 1, 2020. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (7) Income Taxes The components of income tax expense for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands): 2019 2018 2017 Current provision (benefit): Federal $ — $ — $ — State 42 54 (26 ) $ 42 $ 54 $ (26 ) Deferred provision: Federal $ 1 $ (10 ) $ 7 State — (2 ) 1 $ 1 $ (12 ) $ 8 Total $ 43 $ 42 $ (18 ) A summary of the differences between the Company’s effective income tax rate and the Federal statutory income tax rate for the years ended December 31, 2019, 2018 and 2017 is as follows: 2019 2018 2017 Federal statutory rate 21.0 % 21.0 % 34.0 % State income taxes, net of federal benefit 1.7 % 3.6 % 1.4 % Net state impact of deferred rate change (0.2 % ) 0.6 % (0.3 %) Stock compensation expense (10.7 % ) (1.1 %) (1.9 %) Tax amortization on goodwill 0.0 % 0.1 % (0.1 %) Goodwill impairment 0.0 % 0.0 % (13.7 %) Other permanent differences 0.0 % (0.5 %) (0.4 %) Change in valuation allowance (6.0 %) (27.6 %) 97.4 % Tax credits 2.8 % 3.1 % 1.5 % Federal Rate Change 0.0 % 0.0 % (133.5 %) Accrual to TR 1.3 % 0.3 % (0.7 %) Increase Xoft NOLs under 382 Study 0.0 % 0.0 % 16.2 % FV Mark to market on convertible notes (10.4 %) 0.0 % 0.0 % Foreign Rate Differential 0.2 % 0.0 % 0.0 % Effective income tax (0.3 %) (0.5 %) (0.1 %) Deferred tax assets and liabilities are recognized for the expected future tax consequences of net operating loss carryforwards, tax credit carryforwards and temporary differences between the financial statement carrying amounts and the income tax basis of assets and liabilities. A valuation allowance is applied against any net deferred tax asset if, based on the available evidence, it is more likely than not that the deferred tax assets will not be realized. Deferred income taxes reflect the impact of “temporary differences” between the amount of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws and regulations. The Company has fully reserved the net deferred tax assets, as it is more likely than not that the deferred tax assets will not be utilized. Deferred tax assets (liabilities) are composed of the following at December 31 (in thousands): 2019 2018 Inventory (Section 263A) $ 242 $ 239 Inventory reserves 118 270 Receivable reserves 35 45 Other accruals 1,151 88 Deferred revenue 123 85 Accumulated depreciation / 66 138 Stock options 267 1,879 Developed technology 1,702 2,031 Tax credits 3,663 3,364 NOL carryforward 33,640 32,074 Lease l 625 — Net deferred tax assets 41,632 40,213 Valuation allowance (41,025 ) (40,213 ) Right of Use Asset (607 ) — Goodwill tax amortization (3 ) (3 ) Deferred tax liability $ (3 ) $ (3 ) The increase in the net deferred tax assets and corresponding valuation allowance during the year ended December 31, 2019 and December 31, 2018 is primarily attributable to additional accruals, net operating losses, and research and development credits. As of December 31, 2019, the Company has federal net operating loss carryforwards totaling approximately $140.1 million. Federal net operating loss carryforwards totaling $124.8 million will expire at various dates from 2020 and 2037. The remaining $14.9 million of the federal net operating losses generated since December 31, 2017 can be carried forward indefinitely. As of December 31, 2019, the Company has provided a valuation allowance for its net operating loss carryforwards due to the uncertainty of the Company’s ability to generate sufficient taxable income in future years to obtain the benefit from the utilization of the net operating loss carryforwards. In the event of a deemed change in control, an annual limitation imposed on the utilization of the net operating losses may result in the expiration of all or a portion of the net operating loss carryforwards. There were no net operating losses utilized for the years ended December 31, 2019, 2018, or 2017. The Company currently has approximately $7.2 million in net operating losses that are subject to limitations related to Xoft. Approximately $656,000 can be used annually through 2029. The Company has available tax credit carryforwards (adjusted to reflect provisions of the Tax Reform Act of 1986) to offset future income tax liabilities totaling approximately $3.7 million. The credits expire in various years through 2039. The Company has additional tax credits of $1.8 million related to Xoft which have been fully reserved for and as a result no deferred tax asset has been recorded. These credits expire in various years through 2030. ASC 740-10 de-recognition, As of December 31, 2019 and 2018, the Company had no unrecognized tax benefits and no adjustments to liabilities or operations were required under ASC 740-10. The Company does not anticipate that it is reasonably possible that unrecognized tax benefits as of December 31, 2019 will significantly change within the next 12 months. |
Segment Reporting, Geographical
Segment Reporting, Geographical Information and Major Customers | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting, Geographical Information and Major Customers | (8) Segment Reporting, Geographical Information and Major Customers (a) Segment Reporting In accordance with FASB Topic ASC 280, Segments, operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is the Chief Executive Officer. Each reportable segment generates revenue from the sale of medical equipment and related services and/or sale of supplies. The Company has determined there are two segments: Detection and Therapy. The Detection segment consists of the Company’s advanced image analysis and workflow products, and the Therapy segment consists of the Company’s radiation therapy products, and related services. The primary factors used by the Company’s CODM to allocate resources are based on revenues, gross profit, operating income or loss, and earnings or loss before interest, taxes, depreciation, amortization, and other specific and non-recurring items of each segment. Included in segment operating income are stock compensation, amortization of technology and depreciation expense. There are no intersegment revenues. The Company does not track its assets by operating segment and its CODM does not use asset information by segment to allocate resources or make operating decisions. Segment revenues, gross profit, segment operating income or loss, and a reconciliation of segment operating income or loss to GAAP loss before income tax is as follows (in thousands, including prior periods which have been presented for consistency): Year Ended December 31, 2019 2018 2017 Segment revenues: Detection $ 22,319 $ 16,864 $ 18,310 Therapy 9,021 8,757 9,792 Total Revenue $ 31,340 $ 25,621 $ 28,102 Segment gross profit: Detection $ 18,627 $ 14,709 $ 16,218 Therapy 5,600 4,721 1,958 Segment gross profit $ 24,227 $ 19,430 $ 18,176 Segment operating income (loss): Detection $ 2,564 $ 3,412 $ 6,401 Therapy (1,476 ) (2,373 ) (15,102 ) Segment operating income (loss) $ 1,088 $ 1,039 $ (8,701 ) General, administrative, depreciation and amortization expense $ (7,447 ) $ (9,169 ) $ (7,975 ) Interest expense (784 ) (504 ) (504 ) Financing costs (451 ) — Gain on sale of MRI assets — — 2,508 Other income 306 110 110 Fair value of convertible debentures (6,671 ) Loss before income tax $ (13,508 ) $ (8,975 ) $ (14,562 ) Segment depreciation and amortization included in segment operating income (loss) is as follows (in thousands): Year Ended December 31, 2019 2018 2017 Detection depreciation and amortization Depreciation $ 103 $ 106 $ 172 Amortization 240 248 246 Therapy depreciation and amortization Depreciation $ 166 $ 177 $ 768 Amortization 128 129 222 (b) Geographic Information The Company’s sales are made to customers, distributors and dealers of mammography, electronic brachytherapy equipment and other medical equipment, and to foreign distributors of mammography and electronic brachytherapy equipment. Export sales to a single country did not exceed 10% of total revenue in any year. Total export sales were approximately $3.8 million or 12% of total revenue in 2019, $3.2 million or 12% of total revenue in 2018 and $3.9 million or 14% of total revenue in 2017. As of December 31, 2019 and 2018, the Company had outstanding receivables of $2.1 million and $1.1 million, respectively, from distributors and customers of its products who are located outside of the U.S. Percent of Export sales Region 2019 2018 2017 Europe 57 % 51 % 68 % Taiwan 15 % 22 % 11 % Canada 7 % 7 % 5 % China 8 % 0 % 9 % Other 13 % 20 % 7 % Total 100 % 100 % 100 % Total Export sales $ 3,788 $ 3,255 $ 3,931 Significant export sales in Europe are as follows: Percent of Export sales Region 2019 2018 2017 France 34 % 36 % 41 % Spain 12 % 8 % 9 % Germany 4 % 3 % 7 % Bulgaria 0 % 1 % 2 % United Kingdo m 2 % 0 % 2 % (c) Major Customers The Company had one major customer, GE Healthcare, with revenues of approximately $7.6 million in 2019, $6.1 million in 2018, and $7.1 million in 2017 or 24%, 24%, and 25% of total revenue, respectively. Cancer detection products are also sold through OEM partners, including GE Healthcare, Fuji film and our OEM partners represented $4.9 million or 50% of outstanding receivables as of December 31, 2019, with GE Healthcare accounting for $2.4 million or 49% of this amount. The three largest Therapy customers composed $1.5 million or 15% of outstanding receivables as of December 31, 2019. These eleven customers in total represented $6.4 million or 65% of outstanding receivables as of December 31, 2019. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (9) Commitments and Contingencies (a) Other Commitments The Company has non-cancelable (b) Employment Agreements The Company has entered into employment agreements with certain key current and former executives. The employment agreements provide for minimum annual salaries and performance-based annual bonus compensation as defined in their respective agreements. In addition, the employment agreements provide that if employment is terminated without cause, the executive will receive an amount equal to their respective base salary then in effect for (i) fifteen months from the date of termination, for Mr. Klein, (ii) eighteen months from the date of termination, for Ms. Stevens, and (iii) twenty-four months from the date of termination, for Mr. Ferry, and in each case, plus the pro rata portion of any annual bonus earned in any employment year through the date of termination. On November 8, 2018, Mr. Ferry retired as Chief Executive Officer of the Company and from his position as Chairman of the Board of Directors. Mr. Ferry and the Company entered into a Separation Agreement on that date, purs u t which the Company began paying On December 27, 2018, the Company announced that Mr. Christopher would be resigning from his position as Chief Financial Officer of the Company, effective January 11, 2019. There were no termination benefits associated with Mr. Christopher’s resignation. (c) Foreign Tax Claim In July 2007, a dissolved former Canadian subsidiary of the Company, CADx Medical Systems Inc. (“CADx Medical”), received a tax re-assessment re-assessment re-assessment (d) Royalty Obligations In connection with prior litigation, the Company received a nonexclusive, irrevocable, non-compete (e) Litigation The Company may be a party to various legal proceedings and claims arising out of the ordinary course of its business. Although the final results of all such matters and claims cannot be predicted with certainty, the Company currently believes that there are no current proceedings or claims pending against it of which the ultimate resolution would have a material adverse effect on its financial condition or results of operations. However, should the Company fail to prevail in any legal matter or should several legal matters be resolved against us in the same reporting period, such matters could have a material adverse effect on the Company’s operating results and cash flows for that particular period. In all cases, at each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under ASC 450, “Contingencies.” Legal costs are expensed as incurred. In December 2016, the Company entered into an Asset Purchase Agreement with Invivo Corporation. In accordance with the agreement, the Company sold to Invivo all right, title and interest to certain intellectual property relating to the Company’s VersaVue Software and DynaCAD product and related assets for $3.2 million. The Company closed the transaction on January 30, 2017 less a holdback reserve of $350,000 for a net of approximately $2.9 million. On September 5, 2018, third-party Yeda Research and Development Company Ltd. (“Yeda”), filed a complaint (“the Complaint”) against the Company and Invivo in the United States District Court for the Southern District of New York, captioned Yeda Research and Development Company Ltd. v. iCAD, Inc. and Invivo Corporation, Case No. 1:18-cv-08083-GBD, |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data | (10) Quarterly Financial Data Net sales Gross profit Net loss Income (loss) Weighted 2019 First quarter $ 6,773 $ 5,282 $ (3,717 ) ($0.22 ) 17,200 Second quarter 7,329 5,726 $ (3,530 ) ($0.20 ) 17,640 Third quarter 7,857 6,054 $ (2,956 ) ($0.15 ) 19,284 Fourth quarter 9,381 7,165 $ (3,348 ) ($0.17 ) 19,320 2018 First quarter $ 6,313 $ 4,498 $ (3,281 ) ($0.20 ) 16,583 Second quarter 6,162 4,784 $ (1,027 ) ($0.06 ) 16,664 Third quarter 6,192 4,738 $ (1,365 ) ($0.08 ) 16,700 Fourth quarter 6,954 5,410 $ (3,344 ) ($0.20 ) 16,774 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Nature Of Operations And Use Of Estimates | (a) Nature of Operations and Use of Estimates iCAD, Inc. and subsidiaries (the “Company” or “iCAD”) is a global medical technology company providing innovative cancer detection and therapy solutions The Company has grown primarily through acquisitions to become a broad player in the cancer detection and therapy market. Its solutions include advanced artificial intelligence and image analysis workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the most prevalent cancers earlier, a comprehensive range of high-performance, upgradeable Computer-Aided Detection (“CAD”) systems and workflow solutions for digital breast tomosynthesis (“DBT”), full-field digital mammography (“FFDM”), MRI and CT, and the Xoft System which is an isotope-free cancer treatment platform technology. CAD is reimbursable in the U.S. under federal and most third-party insurance programs. The Company intends to continue the extension of its image analysis and clinical decision support solutions for DBT, FFDM, MRI and CT imaging. iCAD believes that advances in digital imaging techniques should bolster its efforts to develop additional commercially viable CAD/advanced image analysis and workflow products. The Company’s management believes that early detection in combination with earlier targeted intervention will provide patients and care providers with the best tools available to achieve better clinical outcomes resulting in a market demand that will drive top line growth. The Company’s headquarters are located in Nashua, New Hampshire, with a manufacturing facility in New Hampshire and an operations, research, development, manufacturing and warehousing facility in San Jose, California. The Company operates in two segments: Cancer Detection (“Detection”) and Cancer Therapy (“Therapy”). The Detection segment consists of advanced image analysis and workflow products, and the Therapy segment consists of radiation therapy products. The Company sells its products throughout the world through its direct sales organization as well as through various OEM partners, distributors and resellers. See Note 8 for segment, major customer and geographical information. The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. It is reasonably possible that changes may occur in the near term that would affect management’s estimates with respect to assets and liabilities. |
Principles of Consolidation | (b) Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: Xoft, Inc. and Xoft Solutions, LLC. All material inter-company transactions and balances have been eliminated in consolidation. |
Cash and cash equivalents | (c) Cash and cash equivalents The Company defines cash and cash equivalents as all bank accounts, money market funds, deposits and other money market instruments with original maturities of 90 days or less, which are unrestricted as to withdrawal. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances. Insurance coverage is $250,000 per depositor at each financial institution, and the Company’s non-interest |
Financial instruments | (d) Financial instruments Financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, notes payable and convertible debentures. Due to their short term nature and market rates of interest, the carrying amounts of the financial instruments, except the convertible debentures, approximated fair value as of December 31, 2019 and 2018. The Company has elected to record the convertible debentures at fair value at each reporting date in accordance with the fair value option election. See Note 3(b) for further details. |
Accounts Receivable and Allowance for Doubtful Accounts | (e) Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer obligations due under normal trade terms. Credit limits are established through a process of reviewing the financial history and stability of each customer. The Company performs continuing credit evaluations of its customers’ financial condition and generally does not require collateral. The Company’s policy is to maintain allowances for estimated losses from the inability of its customers to make required payments. The Company’s senior management reviews accounts receivable on a periodic basis to determine if any receivables may potentially be uncollectible. The Company includes any accounts receivable balances that it determines may likely be uncollectible, along with a general reserve for estimated probable losses based on historical experience, in its overall allowance for doubtful accounts. An amount would be written off against the allowance after all attempts to collect the receivable had failed. Based on the information available, the Company believes the allowance for doubtful accounts as of December 31, 2019 and 2018 is adequate. The following table summarizes the allowance for doubtful accounts for the three years ended December 31, 2019 (in thousands): 2019 2018 201 7 Balance at beginning of period $ 177 $ 107 $ 172 Additions charged to costs and expenses 62 225 45 Reductions (103 ) (155 ) (110 ) Balance at end of period $ 136 $ 177 $ 107 |
Inventory | (f) Inventory Inventory is valued at the lower of cost or net realizable value, with cost determined by the first-in, first-out respectively. Inventory balances, net of reserves, were as follows: December 31, Dece mber Raw materials $ 1,265 $ 606 Work in process 39 67 Finished Goods 1,307 914 Inventory Net $ 2,611 $ 1,587 |
Property and Equipment | (g) Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets or the remaining lease term, if shorter, for leasehold improvements (see below). Estimated life Equipment 3-5 years Leasehold improvements 3-5 Furniture and fixtures 3-5 Marketing assets 3-5 |
Goodwill | (h) Goodwill In accordance with FASB Accounting Standards Codification (“ASC”) Topic 350-20, “Intangibles—Goodwill and Other” 350-20”), Factors the Company considers important, which could trigger an impairment of such asset, include the following: • significant underperformance relative to historical or projected future operating results; • significant changes in the manner or use of the assets or the strategy for the Company’s overall business; • significant negative industry or economic trends; • significant decline in the Company’s stock price for a sustained period; and • a decline in the Company’s market capitalization below net book value. The Company records an impairment charge when such assessment indicates that the fair value of a reporting unit was less than the carrying value. In evaluating potential impairments outside of the annual measurement date, judgment is required in determining whether an event has occurred that may impair the value of goodwill or intangible assets. The Company utilizes either discounted cash flow models or other valuation models, such as comparative transactions and market multiples, to determine the fair value of reporting units. The Company makes assumptions about future cash flows, future operating plans, discount rates, comparable companies, market multiples, purchase price premiums and other factors in those models. Different assumptions and judgment determinations could yield different conclusions that would result in an impairment charge to income in the period that such change or determination was made. In January 2018, the Company adopted a plan to discontinue offering radiation therapy professional services to practices that provide the Company’s electronic brachytherapy solution for the treatment of non-melanoma The Company elected to early adopt ASU 2017-04, 2017-04”) 2017-04 As a result of the underperformance of the Therapy reporting unit as compared to expected future results, the Company determined there was a triggering event in the third quarter of 2017. As a result, the Company completed an interim impairment assessment. The interim test resulted in the fair value of the Therapy reporting unit being less than the carrying value of the reporting unit. The fair value of the Therapy reporting unit was $3.5 million and the carrying value was $7.5 million. The deficiency of $4.0 million was recorded as an impairment charge in the third quarter of the year ended December 31, 2017. The Company did not identify a triggering event within the Detection reporting unit and accordingly did not perform an interim test. The Company determines the fair value of reporting units based on the present value of estimated future cash flows, discounted at an appropriate risk adjusted rate. This approach was selected as it measures the income producing assets, primarily technology and customer relationships. This method estimates the fair value based upon the ability to generate future cash flows, which is particularly applicable when future profit margins and growth are expected to vary significantly from historical operating results. The Company uses internal forecasts to estimate future cash flows and includes an estimate of long-term future growth rates based on the most recent views of the long-term forecast for the reporting unit. Accordingly, actual results can differ from those assumed in the forecasts. Discount rates are derived from a capital asset pricing model and analyzing published rates for industries relevant to the reporting unit to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in the internally developed forecasts. Other significant assumptions include terminal value margin rates, future capital expenditures, and changes in future working capital requirements. While there are inherent uncertainties related to the assumptions used and to the application of these assumptions to this analysis, the income approach provides a reasonable estimate of the fair value of the Therapy reporting unit. The Company performed the annual impairment assessments at October 1, 2019 and 2018, respectively, and compared the fair value of each reporting unit to its carrying value as of each date. The fair value exceeded the carrying value for the Detection reporting unit as of each date of these impairment assessments. Goodwill for the Therapy reporting unit was fully impaired as of December 31, 2017. As such, the Company did not record any impairment charges for the years ended December 31, 2019 or 2018. The carrying values of the reporting units were determined based on an allocation of the Company’s assets and liabilities through specific allocation of certain assets and liabilities, to the reporting units and an apportionment of the remaining net assets based on the relative size of the reporting units’ revenues and operating expenses compared to the Company as a whole. The determination of reporting units also requires management judgment. The Company determines the fair values for each reporting unit using a weighting of the income approach and the market approach. For purposes of the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk adjusted rate. The Company uses internal forecasts to estimate future cash flows and includes estimates of long-term future growth rates based on the Company’s most recent views of the long-term forecast for each segment. Accordingly, actual results can differ from those assumed in the Company’s forecasts. Discount rates are derived from a capital asset pricing model and by analyzing published rates for industries relevant to the Company’s reporting units to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in its internally developed forecasts. In the market approach, the Company uses a valuation technique in which values are derived based on market prices of publicly traded companies with similar operating characteristics and industries. A market approach allows for comparison to actual market transactions and multiples. It can be somewhat limited in its application because the population of potential comparable publicly-traded companies can be limited due to differing characteristics of the comparative business and the Company, as well as market data may not be available for divisions within larger conglomerates or non-public The Company corroborates the total fair values of the reporting units using a market capitalization approach; however, this approach cannot be used to determine the fair value of each reporting unit value. The blend of the income approach and market approach is more closely aligned to the business profile of the Company, including markets served and products available. In addition, required rates of return, along with uncertainties inherent in the forecast of future cash flows, are reflected in the selection of the discount rate. In addition, under the blended approach, reasonably likely scenarios and associated sensitivities can be developed for alternative future states that may not be reflected in an observable market price. The Company will assess each valuation methodology based upon the relevance and availability of the data at the time the valuation is performed and weights the methodologies appropriately. A rollforward of goodwill activity by reportable segment is as follows (in thousands): Consolidated Detection Therapy Total Accumulated Goodwill 47,937 $ — $ — 47,937 Accumulated impairment (26,828 ) — — (26,828 ) Fair value allocation (21,109 ) 7,663 13,446 — Acquisition of DermEbx and Radion — — 6,154 6,154 Acquisition measurement period adjustme nt s — — 116 116 Acquisition of VuComp — 1,093 — 1,093 Sale of MRI assets — (394 ) (394 ) Impairment — — (19,716 ) (19,716 ) Balance at December 31, 2017 — 8,362 — 8,362 Balance at December 31, 2018 $ — $ 8,362 $ — $ 8,362 Balance at December 31, 2019 $ — $ 8,362 $ — $ 8,362 Accumulated Goodwill $ 47,937 $ 699 $ 6,270 $ 6,969 Fair value allocation (21,109 ) 7,663 13,446 $ 21,109 Accumulated impairment (26,828 ) — (19,716 ) $ (19,716 ) Balance at December 31, 2019 $ — $ 8,362 $ — $ 8,362 |
Long Lived Assets | (i) Long Lived Assets In accordance with FASB ASC Topic 360, “ Property, Plant and Equipment ASC 360-10-35 360-10-35-21, • A significant decrease in the market price of a long-lived asset (asset group); • A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition; • A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset group), including an adverse action or assessment by a regulator; • An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset (asset group); • A current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group). In accordance with ASC 360-10-35-17, The Company completed an interim goodwill impairment assessment for the Therapy reporting unit in the third quarter of 2017 and noted that there was an impairment of goodwill. As a result, the Company determined this was a triggering event to review long-lived assets for impairment. The Company determined the “Asset Group” to be the assets of the Therapy segment, which the Company considered to be the lowest level for which the identifiable cash flows were largely independent of the cash flows of other assets and liabilities. Accordingly, the Company completed an analysis pursuant to ASC 360-10-35-17 The Company also completed a goodwill assessment in the fourth quarter of 2017, and in connection with that assessment, the Company completed an analysis pursuant to ASC 360-10-35-17 The Company did not record any impairment charges related to long lived assets for the years ended December 31, 2019 or 2018. A considerable amount of judgment and assumptions are required in performing the impairment tests, principally in determining the fair value of the asset group. While the Company believes the judgments and assumptions are reasonable, different assumptions could change the estimated fair values, and, therefore additional impairment charges could be required. Significant negative industry or economic trends, disruptions to the Company’s business, loss of significant customers, inability to effectively integrate acquired businesses, unexpected significant changes or planned changes in use of the assets may adversely impact the assumptions used in the fair value estimates and ultimately result in future impairment charges. Intangible assets subject to amortization consist primarily of patents, technology, customer relationships and trade names purchased in the Company’s previous acquisitions. These assets, which include assets from the acquisition of the assets of VuComp, DermEbx and Radion and the acquisition of Xoft, Inc., are amortized on a straight-line basis consistent with the pattern of economic benefit over their estimated useful lives of 5 to 10 years. A summary of intangible assets for 2019 and 2018 are as follows (in thousands): 2019 2018 Weighted useful life Gross Carrying Amount Patents and licenses $ 581 $ 571 5 years Technology 8,257 8,257 10 years Customer relationships 272 272 7 years Tradename 259 259 10 years Total amortizable intangible assets 9,369 9,359 Accumulated Amortization Patents and licenses $ 520 $ 511 Technology 7,299 6,958 Customer relationships 108 81 Tradename 259 259 Total accumulated amortization 8,186 7,809 Total amortizable intangible assets, net $ 1,183 $ 1,550 Amortization expense related to intangible assets was approximately $377,000, $383,000 and $494,000 for the years ended December 31, 2019, 2018, and 2017, respectively. Estimated remaining amortization of the Company’s intangible assets is as follows (in thousands): Estimated For the years ended amortization December 31: expense 2020 304 2021 226 2022 207 2023 186 2024 103 Thereafter 157 $ 1,183 |
Revenue Recognition | (j) Revenue Recognition Revenue Recognition Upon Adoption of ASC 606 On January 1, 2018, the Company adopted FASB ASC Topic 606, “Revenue from Contracts with Customers” and all the related amendments (“Topic 606”), using the modified retrospective method for all contracts not completed as of the date of adoption. For contracts that were modified before the effective date, the Company reflected the aggregate effect of all modifications when identifying performance obligations and allocating transaction price in accordance with practical expedient ASC 606-10-65-1-(f)-4, the Company’s The Company the 340-40, The cumulative effect of the changes made to the Company’s consolidated balance sheet for the adoption of Topic 606 were as follows (in thousands): Selected Balance Sheet Balance at Adjustments Due 2014-09 Balance at 2018 Assets Prepaid expenses and other current assets $ 1,100 $ 147 $ 1,247 Liabilities Deferred revenue — 408 408 Contract liabilities 5,910 (369 ) 5,541 Stockholders’ equity Accumulated deficit (201,865 ) 108 (201,973 ) In accordance with the requirements of Topic 606, the disclosure of the impact of the adoption on consolidated balance sheet and statement of operations was as follows (in thousands): As of December 31, 2019 Selected Balance Sheet As Reported Balances without 606 Effect of Change Assets Prepaid expenses and other current assets $ 1,453 $ 1,074 $ (379 ) Liabilities Accrued expenses 6,590 6,590 — Deferred revenue — 167 167 Contract liabilities 5,604 5,437 (167 ) Deferred tax 3 3 — Stockholders’ equity Accumulated deficit (224,325 ) (224,704 ) (379 ) The impact to revenues as a result of applying Topic 606 for the years ended December 31, 2019 and 2018 was an increase of $821,000 and $116,000, respectively (table in thousands). Year ended December 31, 2019 Selected Statement of Operations As Reported Balances without 606 Effect of Change Revenue Products $ 19,767 $ 19,296 $ 471 Service and supplies 11,573 11,223 350 Cost of revenue Products 3,278 3,278 — Service and supplies 3,438 3,438 — Operating expenses Marketing and sales 13,634 14,013 (379 ) Interest expense (784 ) (784 ) — Other income 344 344 — Tax benefit (expense) 43 43 — Net loss (13,551 ) (14,751 ) (1,200 ) In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods or services and excludes any sales incentives or taxes collected from customers which are subsequently remitted to government authorities. To achieve this core principle, the Company applies the following five steps: 1) Identify the contract(s) with a customer 2) Identify the performance obligations in the contract 3) Determine the transaction price 4) Allocate the transaction price to the performance obligations in the contract 5) Recognize revenue when (or as) the Company satisfies a performance obligation The Company recognizes revenue from its contracts with customers primarily from the sale of products and from the sale of services and supplies. Under Topic 606, revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. For product revenue, control has transferred upon shipment provided title and risk of loss have passed to the customer. Services and supplies are considered to be transferred as the services are performed or over the term of the service or supply agreement. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company’s hardware is generally highly dependent on, and interrelated with, the underlying software and the software is considered essential to the functionality of the product. In these cases, the hardware and software license are accounted for as a single performance obligation and revenue is recognized at the point in time when ownership is transferred to the customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control of a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of revenue. The Company continues to provide for estimated warranty costs on original product warranties at the time of sale. Disaggregation of Revenue The following tables presents the Company’s revenues disaggregated by major good or service line, timing of revenue recognition and sales channel, reconciled to its reportable segments (in thousands). Year ended December 31, 2019 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 16,788 $ 4,957 $ 21,745 Service contracts 5,370 1,814 7,184 Supply and source usage agreements — 2,036 2,036 Professional services — 153 153 Other 161 61 222 $ 22,319 $ 9,021 $ 31,340 Timing of Revenue Recognition Goods transferred at a point in time $ 16,949 $ 5,391 $ 22,340 Services transferred over time 5,370 3,630 9,000 $ 22,319 $ 9,021 $ 31,340 Sales Channels Direct sales $ 11,968 $ 5,804 $ 17,772 OEM partners 10,351 — 10,351 Channel partners — 3,217 3,217 $ 22,319 $ 9,021 $ 31,340 Total Revenue Revenue from contracts with customers $ 22,319 $ 9,021 $ 31,340 Revenue from lease component s — — — $ 22,319 $ 9,021 $ 31,340 Year ended December 31, 2018 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 10,783 $ 4,393 $ 15,176 Service contracts 5,311 1,450 6,761 Supply and source usage agreements — 2,261 2,261 Professional services — 264 264 Other 229 389 618 $ 16,323 $ 8,757 $ 25,080 Timing of Revenue Recognition Goods transferred at a point in time $ 10,835 $ 4,676 $ 15,511 Services transferred over time 5,488 4,081 9,569 $ 16,323 $ 8,757 $ 25,080 Sales Channels Direct sales force $ 8,335 $ 7,554 $ 15,889 OEM partners 7,988 — 7,988 Channel partners — 1,203 1,203 $ 16,323 $ 8,757 $ 25,080 Total Revenue Revenue from contracts with customers $ 16,323 $ 8,757 $ 25,080 Revenue from lease components 541 — 541 $ 16,864 $ 8,757 $ 25,621 Year ended December 31, 2017(1) Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 11,650 $ 4,763 $ 16,413 Service contracts 5,687 1,482 7,169 Supply and source usage agreements — 1,956 1,956 Professional services — 254 254 Other 388 1,337 1,725 $ 17,725 $ 9,792 $ 27,517 Timing of Revenue Recognition Goods transferred at a point in time 11,684 5,266 $ 16,950 Services transferred over time 6,041 4,526 10,567 $ 17,725 $ 9,792 $ 27,517 Sales Channels Direct sales force $ 7,787 $ 8,354 $ 16,141 OEM partners 9,938 — 9,938 Channel partners — 1,438 1,438 $ 17,725 $ 9,792 $ 27,517 Total Revenue Revenue from contracts with customers $ 17,725 $ 9,792 $ 27,517 Revenue from lease components 585 — 585 $ 18,310 $ 9,792 $ 28,102 (1) As noted above, prior period amounts have not been adjusted under the modified retrospective method. Products Service Contracts Upon the adoption of ASC 842, effective January 1, 2019, the lease components of certain fixed fee service contracts are no longer being separately accounted for under the lease guidance, and the entire contract is being accounted for under ASC 606. Upon the adoption of ASC 606, effective January 1, 2018, and until the adoption of ASC 842 referred to above, these lease components were accounted for as a lease in accordance with ASC 840, “ Leases non-lease s Supply and Source Usage Agreements Professional Services Other manufacturing or warehouse facility to the customer. Significant Judgments The Company’s contracts with customers may include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. For arrangements with multiple performance obligations, the Company allocates revenue to each performance obligation based on its relative standalone selling price. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company generally determines standalone selling prices based on the prices charged to customers and uses a range of amounts to estimate standalone selling prices when sells The Company may provide credits or incentives to customers, which are accounted for as variable consideration when estimating the transaction price of the contract and amounts of revenue to recognize. The amount of variable consideration to include in the transaction price is estimated at contract inception using either the estimated value method or the most likely amount method based on the nature of the variable consideration. These estimates are updated at the end of each reporting period as additional information becomes available and revenue is recognized only to the extent that it is probable that a significant reversal of any amounts of variable consideration included in the transaction price will not occur. The Company provides for estimated warranty costs on original product warranties at the time of sale. Contract Balances Contract liabilities are a component of deferred revenue, and contract assets are a component of prepaid and other current assets. The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers (in thousands). Contract balances Balance at Balance at December 31, December 31, 2019 2018 Receivables, which are included in ‘Trade accounts receivable’ $ 9,819 $ 6,252 Contract assets, which are included in “Prepaid and other current assets” 14 19 Contract liabilities, which are included in “Deferred revenue” 5,604 5,209 Timing of revenue recognition may differ from timing of invoicing to customers. The Company records a receivable when revenue is recognized prior to receipt of cash payments and the Company has the unconditional right to such consideration, or unearned revenue when cash payments are received or due in advance of The opening balance of accounts receivable from contracts with customers, net of allowance for doubtful accounts, was $8.5 million as of January 1, 2018. As of December 31, 2019 , The Company records a contract asset for unbilled revenue when the Company’s performance is in excess of amounts billed or billable. The Company has classified the contract asset balance as a component of prepaid expenses and other current assets as of January 1, 2018, December 31, 2018 and December 31, 2019. The opening balance of contract assets was $166,000 as of January 1, 2018. As of December 31, 2019 , Deferred revenue from contracts with customers is primarily composed of fees related to long-term service arrangements, which are generally billed in advance. Deferred revenue also includes payments for installation and training that has not y e the C it s December 31, 2018 Contract Lease revenue Total Short term $ 4,885 $ 280 $ 5,165 Long term 324 7 331 Total $ 5,209 $ 287 $ 5,496 Contract December 31, 2019 liabilities Short term $ 5,248 Long term 356 Total $ 5,604 Changes in deferred revenue from contracts with customers were as follows (in thousands): Year Ended Year Ended December 31, December 31, 2019 2018 Balance at beginning of period $ 5,209 $ 5,541 Adoption adjustment — 39 Deferral of revenue 11,005 9,993 Recognition of deferred revenue (10,610 ) (10,364 ) Balance at end of period $ 5,604 $ 5,209 The Company s 20 1 Assets Recognized from the Costs to Obtain a Contract with a Customer The Company recognizes it s The Company has Changes in the balance of capitalized costs to obtain a contract were as follows (in thousands): Years Ended December 31, 2019 2018 Balance at beginning of period $ 282 $ 117 Deferral of costs to obtain a contract 294 368 Recognition of costs to obtain a contract (197 ) (203 ) Balance at end of period $ 379 $ 282 Practical Expedients and Exemptions The Company has elected to make the following accounting policy elections through the adoption of the following practical expedients: Right to Invoice Where applicable, the Company will recognize revenue from a contract with a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date and the amount to which the entity has a right to invoice. Sales and Other Similar Taxes The Company will exclude sales taxes and similar taxes from the measurement of transaction price and will ensure that it complies with the disclosure requirements of ASC 235-10-50-1 50-6. Significant Financing Component The Company will not adjust the promised amount of consideration for the effects of a significant financing component if the Company expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Cost to Obtain a Contract The Company will recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less and there are no renewal periods on which the Company does not pay commissions that are not commensurate with those originally paid. Promised Goods or Services that are Immaterial in the Context of a Contract The Company has elected to assess promised goods or services as performance obligations that are deemed to be immaterial in the context of a contract. As such, the Company will not aggregate and assess immaterial items at the entity level. That is, when determining whether a good or service is immaterial in the context of a contract, the assessment will be made based on the application of ASC 606 at the contract level. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed. Revenue Recognition Prior to the Adoption of ASC 606 The Company’s reporting periods prior to the adoption of ASC 606 and the year ended December 31, 2018 are not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605. Under Topic 605, revenue was recognized when delivery occurred, persuasive evidence of an arrangement existed, fees were fixed or determinable and collectability of the related receivable was probable. For product revenue, delivery was considered to occur upon shipment provided title and risk of loss had passed to the customer. Services and supplies revenue are considered to be delivered as the services were performed or over the estimated life of the supply agreement. Revenue from the sale of certain CAD products was recognized in accordance with ASC 840, which continues to be the case under Topic 606. In addition, revenue from certain CAD products was recognized in accordance with ASC 985-605, The Company historically determined that iCAD’s digital sales generally followed the guidance of ASC 605 as the software was considered essential to the functionality of the product per the guidance of ASU 2009-14. 2009-13. Revenue from certain CAD products was recognized in accordance with ASC 985-605. Sales 2009-13. 605-20, |
Cost of Revenue | (k) Cost of Revenue Cost of revenue consists of the costs of products purchased for resale, cost relating to service including costs of service contracts to maintain equipment after the warranty period, inbound freight and duty, manufacturing, warehousing, material movement, inspection, scrap, rework, depreciation and in-house |
Warranty Costs | (l) Warranty Costs The Company provides for the estimated cost of standard product warranty against defects in material and workmanship based on historical warranty trends, including the cost of product returns during the warranty period. Warranty provisions and claims for the years ended December 31, 2019, 2018 and 2017, were as follows (in thousands): 2019 2018 2017 Beginning accrual balance $ 12 $ 10 $ 11 Warranty provision 41 19 49 Usage (36 ) (17 ) (50 ) Ending accrual balance $ 17 $ 12 $ 10 |
Engineering and Product Development Costs | (m) Engineering and Product Development Costs Engineering and product development costs relate to research and development efforts including Company sponsored clinical trials which are expensed as incurred. |
Advertising Costs | (n) Advertising Costs The Company expenses advertising costs as incurred. Advertising expense for the years ended December 31, 2019, 2018 and 2017 was approximately $1,084,000, $811,000 and $990,000 respectively. |
Net Loss per Common Share | (o) Net Loss per Common Share The Company follows FASB ASC 260-10, A summary of the Company’s calculation of net loss per share is as follows (in thousands, except per share amounts): 2019 2018 2017 Net loss available to common shareholders $ (13,551 ) $ (9,017 ) $ (14,256 ) Basic shares used in the calculation of earnings per share 18,378 16,685 16,343 Effect of dilutive securities: Stock options — — Restricted stock — — Diluted shares used in the calculation of earnings per shar e 18,378 16,685 16,343 Net loss per share Basic $ (0.74 ) $ (0.54 ) $ (0.87 ) Diluted $ (0.74 ) $ (0.54 ) $ (0.87 ) The following table summarizes the number of shares of common stock for convertible securities, warrants and restricted stock that were not included in the calculation of diluted net loss per share because such shares are antidilutive: Year Ended December 31, 2019 2018 2017 Opti ons that are antidilutive: Common stock options 1,550,662 1,983,477 1,465,115 Restricted Stock 150,909 423,202 415,147 Convertible Debentures 1,742,500 1,742,500 — 3,444,071 4,149,179 1,880,262 Restricted common stock can be issued to directors, executives or employees of the Company and are subject to time-based vesting. These potential shares were excluded from the computation of basic loss per share as these shares are not considered outstanding until vested. |
Income Taxes | (p) Income Taxes The Company follows the liability method under ASC Topic 740, “ Income Taxes ASC 740-10 740-10 de-recognition, |
Stock-Based Compensation | (q) Stock-Based Compensation The Company maintains stock-based incentive plans, under which it provides stock incentives to employees, directors and contractors. The Company may grant to employees, directors and contractors, options to purchase common stock at an exercise price equal to the market value of the stock at the date of grant. The Company may grant restricted stock to employees and directors. The underlying shares of the restricted stock grant are not issued until the shares vest, and compensation expense is based on the stock price of the shares at the time of grant. The Company also has an Employee Stock Purchase Plan, adopted in 2019. The Company follows FASB ASC Topic 718, “ Compensation – Stock Compensation The Company uses the Black-Scholes option pricing model to value stock options which requires extensive use of accounting judgment and financial estimates, including estimates of the expected term participants will retain their vested stock options before exercising them, the estimated volatility of its common stock price over the expected term, the risk free rate, expected dividend yield, and the number of options that will be forfeited prior to the completion of their vesting requirements. The fair value of restricted stock is determined based on the stock price of the underlying option on the date of the grant. From time to time, the Company may grant performance based restricted stock awards, based on the achievement of certain performance targets. Compensation cost for performance based restricted stock awards requires significant judgment regarding probability of achieving the performance objectives and compensation cost is adjusted for the probability of achieving these objectives. As a result, compensation cost could vary significantly during the performance measurement period. Compensation cost for stock purchase rights under the employee stock purchase plan is measured and recognized on the date the Company becomes obligated to issue shares of the Company’s common stock and is based on the difference between the fair value of the Company’s common stock and the purchase price on such date. Application of alternative assumptions could produce significantly different estimates of the fair value of stock-based compensation and consequently, the related amounts recognized in the Consolidated Statements of Operations. |
Fair Value Measurements | (r) Fair Value Measurements The Company follows the provisions of FASB ASC Topic 820, “ Fair Value Measurement and Disclosures • Level 1 - • Level 2 - • Level 3 - A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company’s assets and liabilities that are measured at fair value on a recurring basis include the Company’s money market accounts and convertible debentures. The money market funds are included in cash and cash equivalents in the accompanying balance sheet are considered a Level 1 measurement as they are valued at quoted market prices in active markets. The convertible debentures are recorded as a separate component of the Company’s consolidated balance sheets are considered a Level 3 measurement due to the utilization of significant unobservable inputs in their valuation. See Note 3(b) below for a discussion of these fair value measurements. The following table sets forth the Company’s assets and liabilities which are measured at fair value on a recurring basis by level within the fair value hierarchy: Fair Value Measurements as of December 31, 2019 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 15,313 $ — $ — $ 15,313 Total Assets $ 15,313 $ — $ — $ 15,313 Liabilities Convertible debentures $ — $ — $ 13,642 $ 13,642 Total Liabilities $ — $ — $ 13,642 $ 13,642 Fair Value Measurements (000’s) as of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 12,134 $ — $ — $ 12,134 Total Assets $ 12,134 $ — $ — $ 12,134 Liabilities Convertible debentures $ — $ — $ 6,970 $ 6,970 Total Liabilities $ — $ — $ 6,970 $ 6,970 The following is a roll forward of the Company’s Level 3 instruments for the years ended December 31, 2019 and 2018: Convertible Balance, December 20, 2018 $ — Issuances 6,970 Fair value adjustments — Balance, December 31, 2018 6,970 Fair value adjustments 6,672 Balance, December 31, 2019 $ 13,642 Items Measured at Fair Value on a Nonrecurring Basis Certain assets, including long-lived assets and goodwill, are measured at fair value on a nonrecurring basis. These assets are recognized at fair value when they are deemed to be impaired. In 2017, the Company recorded a $6.7 million impairment consisting of $5.7 million related to goodwill and $1.0 million related to long-lived and other assets. The fair values of long-lived assets and goodwill were measured using Level 3 inputs. There were no items measured at fair value on a nonrecurring basis as of or during the years ended December 31, 2019 and 2018. |
Recently Issued and Recently Adopted Accounting Standards | (t) Recently Issued and Recently Adopted Accounting Standards Recently Adopted Accounting Standards On January 1, 2019, the Company adopted ASU 2016-02, Leases right-of-use On January 1, 2019, the Company adopted ASU 2017-11, 2017-11”). 2017-11 2017-11 2017-11 On January 1, 2019, the Company adopted ASU 2018-07, 2018-07”). 2018-07 2018-07 Recently Issued Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, - 2016-13”), 2016-13 2016-13 2016-13 In August 2018, the FASB issued ASU 2018-13, 2018-13”). 2018-13 2018-13 2018-13 In December 2019, the FASB issued ASU 2019-12, 2019-12”). 2019-12 2019-12 2019-12 |
Subsequent Events | (u) Subsequent Events The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the consolidated financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. On February 21, 2020 (the “Conversion Date”), the Company elected to exercise its forced conversion right under the terms of the Convertible Debentures. As a result of this election, all of the outstanding Convertible Debentures were converted, at a conversion price of $4.00 per share, into 1,742,500 shares of the Company’s common stock. In accordance with the m w p through |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Allowance for Doubtful Accounts | The following table summarizes the allowance for doubtful accounts for the three years ended December 31, 2019 (in thousands): 2019 2018 201 7 Balance at beginning of period $ 177 $ 107 $ 172 Additions charged to costs and expenses 62 225 45 Reductions (103 ) (155 ) (110 ) Balance at end of period $ 136 $ 177 $ 107 |
Schedule of Current Inventory | At December 31, 2019 and 2018, inventories consisted of the following (in thousands), which includes an inventory reserve of approximately $0.5 million and $1.1 million as December 31, 2019 and 2018, December 31, Dece mber Raw materials $ 1,265 $ 606 Work in process 39 67 Finished Goods 1,307 914 Inventory Net $ 2,611 $ 1,587 |
Schedule of Property and Equipment Estimated Useful Lives | Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets or the remaining lease term, if shorter, for leasehold improvements (see below). Estimated life Equipment 3-5 years Leasehold improvements 3-5 Furniture and fixtures 3-5 Marketing assets 3-5 |
Roll Forward of Goodwill Activity by Reportable Segment | A rollforward of goodwill activity by reportable segment is as follows (in thousands): Consolidated Detection Therapy Total Accumulated Goodwill 47,937 $ — $ — 47,937 Accumulated impairment (26,828 ) — — (26,828 ) Fair value allocation (21,109 ) 7,663 13,446 — Acquisition of DermEbx and Radion — — 6,154 6,154 Acquisition measurement period adjustme nt s — — 116 116 Acquisition of VuComp — 1,093 — 1,093 Sale of MRI assets — (394 ) (394 ) Impairment — — (19,716 ) (19,716 ) Balance at December 31, 2017 — 8,362 — 8,362 Balance at December 31, 2018 $ — $ 8,362 $ — $ 8,362 Balance at December 31, 2019 $ — $ 8,362 $ — $ 8,362 Accumulated Goodwill $ 47,937 $ 699 $ 6,270 $ 6,969 Fair value allocation (21,109 ) 7,663 13,446 $ 21,109 Accumulated impairment (26,828 ) — (19,716 ) $ (19,716 ) Balance at December 31, 2019 $ — $ 8,362 $ — $ 8,362 |
Schedule of Intangible Assets | A summary of intangible assets for 2019 and 2018 are as follows (in thousands): 2019 2018 Weighted useful life Gross Carrying Amount Patents and licenses $ 581 $ 571 5 years Technology 8,257 8,257 10 years Customer relationships 272 272 7 years Tradename 259 259 10 years Total amortizable intangible assets 9,369 9,359 Accumulated Amortization Patents and licenses $ 520 $ 511 Technology 7,299 6,958 Customer relationships 108 81 Tradename 259 259 Total accumulated amortization 8,186 7,809 Total amortizable intangible assets, net $ 1,183 $ 1,550 |
Schedule of Expected Amortization Expense | Estimated remaining amortization of the Company’s intangible assets is as follows (in thousands): Estimated For the years ended amortization December 31: expense 2020 304 2021 226 2022 207 2023 186 2024 103 Thereafter 157 $ 1,183 |
Summary of Cumulative Effect of The Changes | The cumulative effect of the changes made to the Company’s consolidated balance sheet for the adoption of Topic 842 were as follows (in thousands): Selected Balance Sheet Balance at Adjustments Due to Balance at January 1, Assets Operating lease assets $ — $ 907 $ 907 Liabilities Deferred rent, current portion (within accrued expenses) 92 (92 ) — Deferred rent, long-term portion (within other long-term liabilities) 27 (27 ) — Lease payable - 15 780 795 Lease payable, long-term portion 38 179 217 |
Summary of Impact of The Adoption On Our Consolidated Balance Sheet and Statement of Operations | In accordance with the requirements of Topic 606, the disclosure of the impact of the adoption on consolidated balance sheet and statement of operations was as follows (in thousands): As of December 31, 2019 Selected Balance Sheet As Reported Balances without 606 Effect of Change Assets Prepaid expenses and other current assets $ 1,453 $ 1,074 $ (379 ) Liabilities Accrued expenses 6,590 6,590 — Deferred revenue — 167 167 Contract liabilities 5,604 5,437 (167 ) Deferred tax 3 3 — Stockholders’ equity Accumulated deficit (224,325 ) (224,704 ) (379 ) The impact to revenues as a result of applying Topic 606 for the years ended December 31, 2019 and 2018 was an increase of $821,000 and $116,000, respectively (table in thousands). Year ended December 31, 2019 Selected Statement of Operations As Reported Balances without 606 Effect of Change Revenue Products $ 19,767 $ 19,296 $ 471 Service and supplies 11,573 11,223 350 Cost of revenue Products 3,278 3,278 — Service and supplies 3,438 3,438 — Operating expenses Marketing and sales 13,634 14,013 (379 ) Interest expense (784 ) (784 ) — Other income 344 344 — Tax benefit (expense) 43 43 — Net loss (13,551 ) (14,751 ) (1,200 ) |
Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers (in thousands). Contract balances Balance at Balance at December 31, December 31, 2019 2018 Receivables, which are included in ‘Trade accounts receivable’ $ 9,819 $ 6,252 Contract assets, which are included in “Prepaid and other current assets” 14 19 Contract liabilities, which are included in “Deferred revenue” 5,604 5,209 |
Summary of Changes in Deferred Revenue | Changes in deferred revenue from contracts with customers were as follows (in thousands): Year Ended Year Ended December 31, December 31, 2019 2018 Balance at beginning of period $ 5,209 $ 5,541 Adoption adjustment — 39 Deferral of revenue 11,005 9,993 Recognition of deferred revenue (10,610 ) (10,364 ) Balance at end of period $ 5,604 $ 5,209 |
Schedule of Changes of Capitalized Costs to Obtain Contract | Changes in the balance of capitalized costs to obtain a contract were as follows (in thousands): Years Ended December 31, 2019 2018 Balance at beginning of period $ 282 $ 117 Deferral of costs to obtain a contract 294 368 Recognition of costs to obtain a contract (197 ) (203 ) Balance at end of period $ 379 $ 282 |
Roll forward of Warranty Cost | Warranty provisions and claims for the years ended December 31, 2019, 2018 and 2017, were as follows (in thousands): 2019 2018 2017 Beginning accrual balance $ 12 $ 10 $ 11 Warranty provision 41 19 49 Usage (36 ) (17 ) (50 ) Ending accrual balance $ 17 $ 12 $ 10 |
Calculation of Net Loss Per Share | A summary of the Company’s calculation of net loss per share is as follows (in thousands, except per share amounts): 2019 2018 2017 Net loss available to common shareholders $ (13,551 ) $ (9,017 ) $ (14,256 ) Basic shares used in the calculation of earnings per share 18,378 16,685 16,343 Effect of dilutive securities: Stock options — — Restricted stock — — Diluted shares used in the calculation of earnings per shar e 18,378 16,685 16,343 Net loss per share Basic $ (0.74 ) $ (0.54 ) $ (0.87 ) Diluted $ (0.74 ) $ (0.54 ) $ (0.87 ) |
Schedule of Anti-dilutive Shares Excluded from Computation of Diluted Net Loss Per Share | The following table summarizes the number of shares of common stock for convertible securities, warrants and restricted stock that were not included in the calculation of diluted net loss per share because such shares are antidilutive: Year Ended December 31, 2019 2018 2017 Opti ons that are antidilutive: Common stock options 1,550,662 1,983,477 1,465,115 Restricted Stock 150,909 423,202 415,147 Convertible Debentures 1,742,500 1,742,500 — 3,444,071 4,149,179 1,880,262 |
Assets and Liabilities which are Measured at Fair Value on a Recurring Basis | The following table sets forth the Company’s assets and liabilities which are measured at fair value on a recurring basis by level within the fair value hierarchy: Fair Value Measurements as of December 31, 2019 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 15,313 $ — $ — $ 15,313 Total Assets $ 15,313 $ — $ — $ 15,313 Liabilities Convertible debentures $ — $ — $ 13,642 $ 13,642 Total Liabilities $ — $ — $ 13,642 $ 13,642 Fair Value Measurements (000’s) as of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 12,134 $ — $ — $ 12,134 Total Assets $ 12,134 $ — $ — $ 12,134 Liabilities Convertible debentures $ — $ — $ 6,970 $ 6,970 Total Liabilities $ — $ — $ 6,970 $ 6,970 |
Schedule of Rollforward of the Company's Level 3 Instruments | The following is a roll forward of the Company’s Level 3 instruments for the years ended December 31, 2019 and 2018: Convertible Balance, December 20, 2018 $ — Issuances 6,970 Fair value adjustments — Balance, December 31, 2018 6,970 Fair value adjustments 6,672 Balance, December 31, 2019 $ 13,642 |
Accounting Standards Update 2016-02 [Member] | |
Summary of Changes in Deferred Revenue | The balance of deferred revenue at December 31, 2019 and December 31, 2018 is as follows (in thousands): December 31, 2018 Contract Lease revenue Total Short term $ 4,885 $ 280 $ 5,165 Long term 324 7 331 Total $ 5,209 $ 287 $ 5,496 Contract December 31, 2019 liabilities Short term $ 5,248 Long term 356 Total $ 5,604 |
Accounting Standards Update 2014-09 [Member] | |
Summary of Cumulative Effect of The Changes | The cumulative effect of the changes made to the Company’s consolidated balance sheet for the adoption of Topic 606 were as follows (in thousands): Selected Balance Sheet Balance at Adjustments Due 2014-09 Balance at 2018 Assets Prepaid expenses and other current assets $ 1,100 $ 147 $ 1,247 Liabilities Deferred revenue — 408 408 Contract liabilities 5,910 (369 ) 5,541 Stockholders’ equity Accumulated deficit (201,865 ) 108 (201,973 ) |
Revenues Disaggregated by Major Good or Service Line, Timing of Revenue Recognition, and Sales Channel, Reconciled to Our Reportable Segments | The following tables presents the Company’s revenues disaggregated by major good or service line, timing of revenue recognition and sales channel, reconciled to its reportable segments (in thousands). Year ended December 31, 2019 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 16,788 $ 4,957 $ 21,745 Service contracts 5,370 1,814 7,184 Supply and source usage agreements — 2,036 2,036 Professional services — 153 153 Other 161 61 222 $ 22,319 $ 9,021 $ 31,340 Timing of Revenue Recognition Goods transferred at a point in time $ 16,949 $ 5,391 $ 22,340 Services transferred over time 5,370 3,630 9,000 $ 22,319 $ 9,021 $ 31,340 Sales Channels Direct sales $ 11,968 $ 5,804 $ 17,772 OEM partners 10,351 — 10,351 Channel partners — 3,217 3,217 $ 22,319 $ 9,021 $ 31,340 Total Revenue Revenue from contracts with customers $ 22,319 $ 9,021 $ 31,340 Revenue from lease component s — — — $ 22,319 $ 9,021 $ 31,340 Year ended December 31, 2018 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 10,783 $ 4,393 $ 15,176 Service contracts 5,311 1,450 6,761 Supply and source usage agreements — 2,261 2,261 Professional services — 264 264 Other 229 389 618 $ 16,323 $ 8,757 $ 25,080 Timing of Revenue Recognition Goods transferred at a point in time $ 10,835 $ 4,676 $ 15,511 Services transferred over time 5,488 4,081 9,569 $ 16,323 $ 8,757 $ 25,080 Sales Channels Direct sales force $ 8,335 $ 7,554 $ 15,889 OEM partners 7,988 — 7,988 Channel partners — 1,203 1,203 $ 16,323 $ 8,757 $ 25,080 Total Revenue Revenue from contracts with customers $ 16,323 $ 8,757 $ 25,080 Revenue from lease components 541 — 541 $ 16,864 $ 8,757 $ 25,621 Year ended December 31, 2017(1) Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 11,650 $ 4,763 $ 16,413 Service contracts 5,687 1,482 7,169 Supply and source usage agreements — 1,956 1,956 Professional services — 254 254 Other 388 1,337 1,725 $ 17,725 $ 9,792 $ 27,517 Timing of Revenue Recognition Goods transferred at a point in time 11,684 5,266 $ 16,950 Services transferred over time 6,041 4,526 10,567 $ 17,725 $ 9,792 $ 27,517 Sales Channels Direct sales force $ 7,787 $ 8,354 $ 16,141 OEM partners 9,938 — 9,938 Channel partners — 1,438 1,438 $ 17,725 $ 9,792 $ 27,517 Total Revenue Revenue from contracts with customers $ 17,725 $ 9,792 $ 27,517 Revenue from lease components 585 — 585 $ 18,310 $ 9,792 $ 28,102 |
Sale of MRI Assets (Tables)
Sale of MRI Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Components of Gain on Sale | The components of the gain on the sale are as follows (in thousands): Gain on Sale Cash received $ 2,850 Holdback reserve 350 Fair value of transition services (118 ) Net Assets sold (574 ) Total $ 2,508 |
Financing Arrangements (Tables)
Financing Arrangements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Carrying Value of Term Loan Net of Debt Issuance Costs | The carrying value of the Initial Term Loans and Revolving Loans as of December 31, 2019 and 2018 is as follows (in thousands): December 31, 2019 December 31, 2018 Principal Amount of Term Loan $ 4,000 $ 6,000 Unamortized closing costs (40 ) (58 ) Accrued Final Payment 293 163 Amount Drawn on Line of Credit 2,000 — Carrying amount of Term Loan 6,253 6,105 Less current portion of Term Loan (4,250 ) (1,851 ) Notes payable long-term portion $ 2,003 $ 4,254 |
Schedule of Key Inputs to Simulation Model Utilized to Estimate Fair Value of Convertible Debentures | The Company notes that the key inputs to the simulation model that were utilized to estimate the fair value of the Convertible Debentures at each valuation date included: Input December 21, 2018 December 31, 2018 December 31, 2019 Company’s stock price $ 3.68 $ 3.70 $ 7.77 Conversion price 4.00 4.00 4.00 Remaining term (years) 3.00 2.97 1.97 Equity volatility 54.00 % 54.00 % 49.00 % Risk free rate 2.58 % 2.46 % 1.57 % 1 Probability 0.75 % 0.81 % 0.45 % 1 Utilization of Forced Conversion (if available) 100.00 % 100.00 % 100.00 % 1 Exercise of Default Redemption (if available) 100.00 % 100.00 % 100.00 % 1 Effective discount rate 21.90 % 21.90 % 18.52 % |
Schedule of Fair Value and Principal Value of Convertible Debentures | As of the issuance date of the Convertible Debentures (December 21, 2018) and the valuation dates of December 31, 2019 and 2018, respectively, the fair value and principal value of the Convertible Debentures was: Convertible Debentures December 21, 2018 December 31, 2018 December 31, 2019 Fair value, in accordance with fair value option $ 6,970 $ 6,970 $ 13,642 Principal value outstanding $ 6,970 $ 6,970 $ 6,970 |
Summary of Future Principal and Interest Payments Related to Loan Agreement and Convertible Debentures | Future principal and interest payments related to the Loan Agreement and Convertible Debentures are as follows (in thousands): Fiscal Year Amount Due 2020 $ 4,889 2021 $ 9,457 Total $ 14,346 |
Interest Expense in Consolidated Income Statement | The following amounts are included in interest expense in the Company’s consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 Cash interest expense, notes payable $ 274 $ 299 $ 98 Cash interest expense, convertible debentures 349 9 — Amortization of debt costs 28 29 9 Accrual of notes payable final payment 131 163 — Amortization of settlement obligations — — 26 Interest expense capital lease 2 4 1 Capital lease—fair value amortization — — (10 ) Total interest expense $ 784 $ 504 $ 124 |
Accrued and Other Expenses (Tab
Accrued and Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Payables and Accruals [Abstract] | |
Accrued and Other Expenses | Accrued and other expenses consist of the following at December 31 (in thousands): 2019 2018 Accrued salary and related expenses $ 3,200 $ 1,811 Accrued accounts payable 2,718 2,329 Accrued professional fees 510 737 Other accrued expenses 162 91 Deferred rent 92 $ 6,590 $ 5,060 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Components of Lease Expense | The components of lease expense for the period are as follows (in thousands): Year Ended Lease Cost Classification December 31, 2019 Operating lease cost - Operating expenses $ 804 Operating lease cost - Operating expenses 173 Finance lease costs Amortization of leased assets Amortization and depreciation 15 Interest on lease liabilities Interest expense 2 Total $ 994 Other information related to leases was as follows (in thousands): 2019 Cash paid for operating cash flows from operating leases $ 840 Cash paid for operating cash flows from finance leases 2 Cash paid for financing cash flows from finance leases 17 2019 Weighted-average remaining lease term of operating leases (in years) 3.12 Weighted-average remaining lease term of finance leases (in years) 1.00 Weighted-average discount rate for operating leases 5.6 % Weighted-average discount rate for finance leases 5.4 % |
Summary of Detained Information of Lease Liabilities | Maturities of the Company’s lease liabilities as of December 31, 2019 was as follows (in thousands): Year Ended December 31: Operating Finance Leases Total 2020 873 13 886 2021 875 — 875 2022 881 — 881 2023 201 — 201 Total lease payments 2,830 13 2,843 Less: imputed interest (247 ) (1 ) (248 ) Total lease liabilities 2,583 12 2,595 Less: current portion of lease liabilities (746 ) (12 ) (758 ) Long-term lease liabilities $ 1,837 $ — $ 1,837 |
Summary of Cumulative Effect of The Changes | The cumulative effect of the changes made to the Company’s consolidated balance sheet for the adoption of Topic 842 were as follows (in thousands): Selected Balance Sheet Balance at Adjustments Due to Balance at January 1, Assets Operating lease assets $ — $ 907 $ 907 Liabilities Deferred rent, current portion (within accrued expenses) 92 (92 ) — Deferred rent, long-term portion (within other long-term liabilities) 27 (27 ) — Lease payable - 15 780 795 Lease payable, long-term portion 38 179 217 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Federal Home Loan Banks [Abstract] | |
Summary of Stock Option Activity for all Stock Option Plans | A summary of stock option activity for all stock option plans is as follows: Number of Weighted Weighted Outstanding, January 1, 2017 1,425,348 $ 5.05 Granted 200,813 $ 4.14 Exercised (36,530 ) $ 2.18 Forfeited (124,516 ) $ 4.71 Outstanding, December 31, 2017 1,465,115 $ 5.03 Granted 888,263 $ 2.95 Exercised (139,556 ) $ 2.27 Forfeited (230,345 ) $ 5.41 Outstanding, December 31, 2018 1,983,477 $ 4.25 Granted 392,270 $ 5.81 Exercised (379,980 ) $ 3.39 Forfeited (445,105 ) $ 6.06 Outstanding, December 31, 2019 1,550,662 $ 4.33 5.0 Y Exercisable at December 31, 2017 1,301,651 $ 4.95 Exercisable at December 31, 2018 1,296,439 $ 4.90 Exercisable at December 31, 2019 881,461 $ 4.43 4.0 Y |
Stock-Based Compensation Expense Including Options and Restricted Stock by Category | The Company’s stock-based compensation expense, including options and restricted stock by category is as follows (amounts in thousands): Year Ended December 31, 2019 2018 2017 Cost of revenue $ 3 $ 4 $ 5 Engineering and product development 226 399 715 Marketing and sales 226 190 1,003 General and administrative expense 713 912 1,933 $ 1,168 $ 1,505 $ 3,656 |
Options Granted under Company's Stock Incentive Plans, Valuation Assumptions and Fair Values | Options granted under the stock incentive plans were valued utilizing the Black-Scholes model using the following assumptions and had the following fair values: Year Ended December 31, 2019 2018 2017 Average risk-free interest rate 1.88 % 2.65 % 1.61 % Expected dividend yield None None None Expected life 3.5 years 3.5 years 3.5 years Expected volatility 50.01% to 54.23 % 50.4% to 61.6 % 64.2% to 72.0 % Weighted average exercise price $ $ $ Weighted average fair value $ $ $ |
Summary Of Intrinsic Values Of Option And Closing Market Price | Intrinsic values of options (in thousands) and the closing market price used to determine the intrinsic values are as follows: Intrinsic value of stock options Years Ended December 31, 2019 2018 2017 Outstanding $ 5,465 $ 1,021 $ 449 Exercisable 3,067 499 442 Exercised 509 224 79 Company’s stock price at December 31 $ 7.77 $ 3.70 $ 3.44 |
Summary of Restricted Stock Activity for All Equity Incentive Plans | A summary of restricted stock activity for all equity incentive plans is as follows: Years Ended December 31, 2019 2018 2017 Beginning outstanding balance 423,202 415,147 511,398 Granted 15,990 379,439 394,599 Vested (197,730 ) (322,388 ) (469,434 ) Forfeited (90,553 ) (48,996 ) (21,416 ) Ending outstanding balance 150,909 423,202 415,147 |
Summary of Intrinsic Values of Restricted Stock and Closing Market Price | Intrinsic values of restricted stock (in thousands) and the closing market price used to determine the intrinsic values are as follows: Years Ended December 31, 2019 2018 2017 Outstanding $ 1,173 $ 1,566 $ 1,428 Vested 1,536 1,193 1,615 Company’s stock price at December 31 $ 7.77 $ 3.70 $ 3.44 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Components of Income Tax Expense | The components of income tax expense for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands): 2019 2018 2017 Current provision (benefit): Federal $ — $ — $ — State 42 54 (26 ) $ 42 $ 54 $ (26 ) Deferred provision: Federal $ 1 $ (10 ) $ 7 State — (2 ) 1 $ 1 $ (12 ) $ 8 Total $ 43 $ 42 $ (18 ) |
Summary of Effective and the Federal Statutory Income Tax Rate | A summary of the differences between the Company’s effective income tax rate and the Federal statutory income tax rate for the years ended December 31, 2019, 2018 and 2017 is as follows: 2019 2018 2017 Federal statutory rate 21.0 % 21.0 % 34.0 % State income taxes, net of federal benefit 1.7 % 3.6 % 1.4 % Net state impact of deferred rate change (0.2 % ) 0.6 % (0.3 %) Stock compensation expense (10.7 % ) (1.1 %) (1.9 %) Tax amortization on goodwill 0.0 % 0.1 % (0.1 %) Goodwill impairment 0.0 % 0.0 % (13.7 %) Other permanent differences 0.0 % (0.5 %) (0.4 %) Change in valuation allowance (6.0 %) (27.6 %) 97.4 % Tax credits 2.8 % 3.1 % 1.5 % Federal Rate Change 0.0 % 0.0 % (133.5 %) Accrual to TR 1.3 % 0.3 % (0.7 %) Increase Xoft NOLs under 382 Study 0.0 % 0.0 % 16.2 % FV Mark to market on convertible notes (10.4 %) 0.0 % 0.0 % Foreign Rate Differential 0.2 % 0.0 % 0.0 % Effective income tax (0.3 %) (0.5 %) (0.1 %) |
Deferred Tax Assets (Liabilities) | The Company has fully reserved the net deferred tax assets, as it is more likely than not that the deferred tax assets will not be utilized. Deferred tax assets (liabilities) are composed of the following at December 31 (in thousands): 2019 2018 Inventory (Section 263A) $ 242 $ 239 Inventory reserves 118 270 Receivable reserves 35 45 Other accruals 1,151 88 Deferred revenue 123 85 Accumulated depreciation / 66 138 Stock options 267 1,879 Developed technology 1,702 2,031 Tax credits 3,663 3,364 NOL carryforward 33,640 32,074 Lease l 625 — Net deferred tax assets 41,632 40,213 Valuation allowance (41,025 ) (40,213 ) Right of Use Asset (607 ) — Goodwill tax amortization (3 ) (3 ) Deferred tax liability $ (3 ) $ (3 ) |
Segment Reporting, Geographic_2
Segment Reporting, Geographical Information and Major Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Summary of Segment Revenues, Gross Profit, Segment Operating Income or Loss and Reconciliation of Segment Operating Income or Loss to GAAP Loss | Segment revenues, gross profit, segment operating income or loss, and a reconciliation of segment operating income or loss to GAAP loss before income tax is as follows (in thousands, including prior periods which have been presented for consistency): Year Ended December 31, 2019 2018 2017 Segment revenues: Detection $ 22,319 $ 16,864 $ 18,310 Therapy 9,021 8,757 9,792 Total Revenue $ 31,340 $ 25,621 $ 28,102 Segment gross profit: Detection $ 18,627 $ 14,709 $ 16,218 Therapy 5,600 4,721 1,958 Segment gross profit $ 24,227 $ 19,430 $ 18,176 Segment operating income (loss): Detection $ 2,564 $ 3,412 $ 6,401 Therapy (1,476 ) (2,373 ) (15,102 ) Segment operating income (loss) $ 1,088 $ 1,039 $ (8,701 ) General, administrative, depreciation and amortization expense $ (7,447 ) $ (9,169 ) $ (7,975 ) Interest expense (784 ) (504 ) (504 ) Financing costs (451 ) — Gain on sale of MRI assets — — 2,508 Other income 306 110 110 Fair value of convertible debentures (6,671 ) Loss before income tax $ (13,508 ) $ (8,975 ) $ (14,562 ) |
Summary of Segment Depreciation and Amortization Included in Segment Operating Income (Loss) | Segment depreciation and amortization included in segment operating income (loss) is as follows (in thousands): Year Ended December 31, 2019 2018 2017 Detection depreciation and amortization Depreciation $ 103 $ 106 $ 172 Amortization 240 248 246 Therapy depreciation and amortization Depreciation $ 166 $ 177 $ 768 Amortization 128 129 222 |
Summary of Concentration of Revenue by Geographic Area | Percent of Export sales Region 2019 2018 2017 Europe 57 % 51 % 68 % Taiwan 15 % 22 % 11 % Canada 7 % 7 % 5 % China 8 % 0 % 9 % Other 13 % 20 % 7 % Total 100 % 100 % 100 % Total Export sales $ 3,788 $ 3,255 $ 3,931 Significant export sales in Europe are as follows: Percent of Export sales Region 2019 2018 2017 France 34 % 36 % 41 % Spain 12 % 8 % 9 % Germany 4 % 3 % 7 % Bulgaria 0 % 1 % 2 % United Kingdo m 2 % 0 % 2 % |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data | Net sales Gross profit Net loss Income (loss) Weighted 2019 First quarter $ 6,773 $ 5,282 $ (3,717 ) ($0.22 ) 17,200 Second quarter 7,329 5,726 $ (3,530 ) ($0.20 ) 17,640 Third quarter 7,857 6,054 $ (2,956 ) ($0.15 ) 19,284 Fourth quarter 9,381 7,165 $ (3,348 ) ($0.17 ) 19,320 2018 First quarter $ 6,313 $ 4,498 $ (3,281 ) ($0.20 ) 16,583 Second quarter 6,162 4,784 $ (1,027 ) ($0.06 ) 16,664 Third quarter 6,192 4,738 $ (1,365 ) ($0.08 ) 16,700 Fourth quarter 6,954 5,410 $ (3,344 ) ($0.20 ) 16,774 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | Feb. 24, 2020 | Feb. 21, 2020USD ($)shares$ / shares | Dec. 31, 2019USD ($)$ / shares | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2019USD ($)Segment$ / shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2016USD ($) |
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Business segment | Segment | 2 | ||||||||||||||||
Maturity for cash and cash equivalents | 90 days | ||||||||||||||||
Insurance coverage | $ 250,000 | ||||||||||||||||
Interest-bearing amounts on deposit in excess of federally | $ 15,100,000 | 15,100,000 | |||||||||||||||
Inventory reserve | 500,000 | $ 1,100,000 | 500,000 | $ 1,100,000 | |||||||||||||
Goodwill | 8,362,000 | 8,362,000 | 8,362,000 | 8,362,000 | |||||||||||||
Impairment charges on long lived assets | 0 | 0 | |||||||||||||||
Amortization expense related to intangible assets | 377,000 | 383,000 | $ 494,000 | ||||||||||||||
Increase to retained earnings | (224,325,000) | (210,774,000) | $ (201,865,000) | (224,325,000) | (210,774,000) | (201,865,000) | |||||||||||
Revenues | 9,381,000 | $ 7,857,000 | $ 7,329,000 | $ 6,773,000 | 6,954,000 | $ 6,192,000 | $ 6,162,000 | $ 6,313,000 | 31,340,000 | 25,621,000 | 28,102,000 | ||||||
Allowance for doubtful accounts, receivable | 136,000 | 177,000 | 107,000 | 136,000 | 177,000 | 107,000 | $ 172,000 | ||||||||||
Contract assets | 14,000 | 19,000 | 14,000 | 19,000 | $ 166,000 | ||||||||||||
Amounts associated with service contracts accounted for under Topic 840 | 287,000 | 287,000 | |||||||||||||||
Unearned amount to recognize in 2020 | 5,200,000 | ||||||||||||||||
Unearned amount to recognize in 2021 | 300,000 | 300,000 | |||||||||||||||
Unearned amount to recognize, thereafter | 100,000 | 100,000 | |||||||||||||||
Capitalized costs to obtain a contract | $ 379,000 | 282,000 | 117,000 | $ 379,000 | 282,000 | 117,000 | 117,000 | ||||||||||
Product delivery period to customer | one year or less | ||||||||||||||||
Advertising expense | $ 1,084,000 | 811,000 | 990,000 | ||||||||||||||
Goodwill and long-lived asset impairment | 6,693,000 | ||||||||||||||||
Impairment charges on long-lived and other assets | 1,000,000 | ||||||||||||||||
Convertible Debt [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Debt Coversion Price Per share | $ / shares | $ 4 | $ 4 | |||||||||||||||
Debentures redemption face value | $ 7,000,000 | $ 7,000,000 | |||||||||||||||
Subsequent Event [Member] | Convertible Debt [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Debt Coversion Price Per share | $ / shares | $ 4 | ||||||||||||||||
Convertible debenture Number of instruments converted | shares | 1,742,500 | ||||||||||||||||
Accrued Interest on convertible debt | $ 59,000 | ||||||||||||||||
Liquidated Damages | 638,000 | ||||||||||||||||
Subsequent Event [Member] | Convertible Debt [Member] | Make Whole Provision [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Convertible debenture Number of instruments converted | shares | 73,589 | ||||||||||||||||
Debentures redemption face value | $ 638,000 | ||||||||||||||||
Revenue from Contract with Customer [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Allowance for doubtful accounts, receivable | 9,800,000 | 6,300,000 | 9,800,000 | 6,300,000 | 8,500,000 | ||||||||||||
Accounting Standards Update 2014-09 [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Increase to retained earnings | (379,000) | (379,000) | (201,973,000) | ||||||||||||||
Amounts associated with service contracts accounted for under Topic 840 | 167,000 | 167,000 | |||||||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect Before and After Topic 606 [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Increase to retained earnings | (224,704,000) | (224,704,000) | $ 108,000 | ||||||||||||||
Revenues | 821,000 | 116,000 | |||||||||||||||
Amounts associated with service contracts accounted for under Topic 840 | 167,000 | 167,000 | |||||||||||||||
Therapy [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Goodwill | 5,700,000 | 5,700,000 | |||||||||||||||
Impairment charges on long lived assets | $ 700,000 | ||||||||||||||||
Amortization expense related to intangible assets | 128,000 | 129,000 | 222,000 | ||||||||||||||
Therapy [Member] | ASU 2017-04 [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Fair value of goodwill | 100,000 | 3,500,000 | 100,000 | ||||||||||||||
Goodwill | 2,100,000 | 7,500,000 | $ 2,100,000 | ||||||||||||||
Goodwill impairment loss | $ 1,700,000 | $ 4,000,000 | |||||||||||||||
Level 3 [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Fair value on nonrecurring basis | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||
Maximum [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Estimated useful lives of Long-lived assets | 10 years | ||||||||||||||||
Minimum [Member] | |||||||||||||||||
Basis Of Presentation And Significant Accounting Policies [Line Items] | |||||||||||||||||
Estimated useful lives of Long-lived assets | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Receivables [Abstract] | |||
Balance at beginning of period | $ 177 | $ 107 | $ 172 |
Additions charged to costs and expenses | 62 | 225 | 45 |
Reductions | (103) | (155) | (110) |
Balance at end of period | $ 136 | $ 177 | $ 107 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Schedule of Current Inventory (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 1,265 | $ 606 |
Work in process | 39 | 67 |
Finished Goods | 1,307 | 914 |
Inventory Net | $ 2,611 | $ 1,587 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Schedule of Property and Equipment Estimated Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Minimum [Member] | Marketing Assets [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 3 years |
Minimum [Member] | Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 3 years |
Minimum [Member] | Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 3 years |
Minimum [Member] | Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 3 years |
Maximum [Member] | Marketing Assets [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 5 years |
Maximum [Member] | Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 5 years |
Maximum [Member] | Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 5 years |
Maximum [Member] | Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, Estimated life | 5 years |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Roll Forward of Goodwill Activity by Reportable Segment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | |||
Goodwill, Ending Balance | $ 8,362 | $ 8,362 | |
Operating Segments [Member] | |||
Goodwill [Line Items] | |||
Impairment | $ (19,716) | ||
Fair value allocation | 21,109 | ||
Accumulated impairment | (19,716) | (26,828) | |
Accumulated Goodwill | 6,969 | 47,937 | |
Acquisition measurement period adjustments | 116 | ||
Sale of MRI assets | (394) | ||
Goodwill, Ending Balance | 8,362 | 8,362 | 8,362 |
Operating Segments [Member] | DermEbx And Radion [Member] | |||
Goodwill [Line Items] | |||
Acquisition cost | 6,154 | ||
Operating Segments [Member] | VuComp M-Vu Breast Density Product [Member] | |||
Goodwill [Line Items] | |||
Acquisition cost | 1,093 | ||
Consolidated Reporting Unit [Member] | Operating Segments [Member] | |||
Goodwill [Line Items] | |||
Fair value allocation | (21,109) | (21,109) | |
Accumulated impairment | (26,828) | (26,828) | |
Accumulated Goodwill | 47,937 | 47,937 | |
Detection [Member] | Operating Segments [Member] | |||
Goodwill [Line Items] | |||
Fair value allocation | 7,663 | 7,663 | |
Accumulated Goodwill | 699 | 0 | |
Sale of MRI assets | 0 | 0 | (394) |
Goodwill, Ending Balance | 8,362 | $ 8,362 | 8,362 |
Detection [Member] | Operating Segments [Member] | VuComp M-Vu Breast Density Product [Member] | |||
Goodwill [Line Items] | |||
Acquisition cost | 1,093 | ||
Therapy [Member] | |||
Goodwill [Line Items] | |||
Goodwill, Ending Balance | 5,700 | ||
Therapy [Member] | Operating Segments [Member] | |||
Goodwill [Line Items] | |||
Impairment | (19,716) | ||
Fair value allocation | 13,446 | 13,446 | |
Accumulated impairment | (19,716) | ||
Accumulated Goodwill | $ 6,270 | ||
Acquisition measurement period adjustments | 116 | ||
Therapy [Member] | Operating Segments [Member] | DermEbx And Radion [Member] | |||
Goodwill [Line Items] | |||
Acquisition cost | $ 6,154 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Gross Carrying Amount | ||
Gross Carrying Amount | $ 9,369 | $ 9,359 |
Accumulated Amortization | ||
Accumulated Amortization | 8,186 | 7,809 |
Total amortizable intangible assets, net | 1,183 | 1,550 |
Patent and Licenses [Member] | ||
Gross Carrying Amount | ||
Gross Carrying Amount | $ 581 | 571 |
Weighted average useful life | 5 years | |
Accumulated Amortization | ||
Accumulated Amortization | $ 520 | 511 |
Technology [Member] | ||
Gross Carrying Amount | ||
Gross Carrying Amount | $ 8,257 | 8,257 |
Weighted average useful life | 10 years | |
Accumulated Amortization | ||
Accumulated Amortization | $ 7,299 | 6,958 |
Customer Relationships [Member] | ||
Gross Carrying Amount | ||
Gross Carrying Amount | $ 272 | 272 |
Weighted average useful life | 7 years | |
Accumulated Amortization | ||
Accumulated Amortization | $ 108 | 81 |
Tradename [Member] | ||
Gross Carrying Amount | ||
Gross Carrying Amount | $ 259 | 259 |
Weighted average useful life | 10 years | |
Accumulated Amortization | ||
Accumulated Amortization | $ 259 | $ 259 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Schedule of Expected Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | ||
2020 | $ 304 | |
2021 | 226 | |
2022 | 207 | |
2023 | 186 | |
2024 | 103 | |
Thereafter | 157 | |
Total amortizable intangible assets, net | $ 1,183 | $ 1,550 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Summary of Cumulative Effect of The Changes (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Assets | ||||
Prepaid expenses and other current assets | $ 1,453 | $ 1,045 | $ 1,100 | |
Liabilities | ||||
Deferred revenue | 5,248 | 5,165 | ||
Contract liabilities | 5,604 | 5,910 | ||
Stockholders' equity | ||||
Accumulated deficit | (224,325) | $ (210,774) | $ (201,865) | |
Accounting Standards Update 2014-09 [Member] | ||||
Assets | ||||
Prepaid expenses and other current assets | (379) | $ 1,247 | ||
Liabilities | ||||
Deferred revenue | 408 | |||
Contract liabilities | (167) | 5,541 | ||
Stockholders' equity | ||||
Accumulated deficit | (379) | (201,973) | ||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect Before and After Topic 606 [Member] | ||||
Assets | ||||
Prepaid expenses and other current assets | 1,074 | 147 | ||
Liabilities | ||||
Deferred revenue | 408 | |||
Contract liabilities | 5,437 | (369) | ||
Stockholders' equity | ||||
Accumulated deficit | $ (224,704) | $ 108 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Summary of Impact of The Adoption On Our Consolidated Balance Sheet and Statement of Operations (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | |
Assets | ||||||||||||
Prepaid expenses and other current assets | $ 1,453,000 | $ 1,045,000 | $ 1,453,000 | $ 1,045,000 | $ 1,100,000 | |||||||
Liabilities | ||||||||||||
Accrued expenses | 6,590,000 | 5,060,000 | 6,590,000 | 5,060,000 | ||||||||
Deferred revenue | 287,000 | 287,000 | ||||||||||
Contract liabilities | 5,604,000 | 5,604,000 | 5,910,000 | |||||||||
Deferred tax | 3,000 | 3,000 | 3,000 | 3,000 | ||||||||
Stockholders' equity | ||||||||||||
Accumulated deficit | (224,325,000) | (210,774,000) | (224,325,000) | (210,774,000) | (201,865,000) | |||||||
Total Revenue | 9,381,000 | $ 7,857,000 | $ 7,329,000 | $ 6,773,000 | 6,954,000 | $ 6,192,000 | $ 6,162,000 | $ 6,313,000 | 31,340,000 | 25,621,000 | 28,102,000 | |
Cost of revenue | ||||||||||||
Cost of revenue | 7,113,000 | 6,191,000 | 9,926,000 | |||||||||
Operating expenses | ||||||||||||
Marketing and sales | 13,634,000 | 8,693,000 | 10,503,000 | |||||||||
Interest expense | (784,000) | (504,000) | (124,000) | |||||||||
Other Operating Income | 344,000 | |||||||||||
Income tax (benefit) expense | 43,000 | 42,000 | (18,000) | |||||||||
Net loss | (3,348,000) | $ (2,956,000) | $ (3,530,000) | $ (3,717,000) | $ (3,344,000) | $ (1,365,000) | $ (1,027,000) | $ (3,281,000) | (13,551,000) | (9,017,000) | (14,256,000) | |
Product [Member] | ||||||||||||
Stockholders' equity | ||||||||||||
Total Revenue | 19,767,000 | 13,111,000 | 13,554,000 | |||||||||
Cost of revenue | ||||||||||||
Cost of revenue | 3,278,000 | 2,161,000 | 2,660,000 | |||||||||
Service [Member] | ||||||||||||
Stockholders' equity | ||||||||||||
Total Revenue | 11,573,000 | 12,510,000 | 14,548,000 | |||||||||
Cost of revenue | ||||||||||||
Cost of revenue | 3,438,000 | 3,627,000 | $ 6,229,000 | |||||||||
Accounting Standards Update 2014-09 [Member] | ||||||||||||
Assets | ||||||||||||
Prepaid expenses and other current assets | (379,000) | (379,000) | $ 1,247,000 | |||||||||
Liabilities | ||||||||||||
Deferred revenue | 167,000 | 167,000 | ||||||||||
Contract liabilities | (167,000) | (167,000) | 5,541,000 | |||||||||
Stockholders' equity | ||||||||||||
Accumulated deficit | (379,000) | (379,000) | (201,973,000) | |||||||||
Operating expenses | ||||||||||||
Marketing and sales | (379,000) | |||||||||||
Net loss | (1,200,000) | |||||||||||
Accounting Standards Update 2014-09 [Member] | Product [Member] | ||||||||||||
Stockholders' equity | ||||||||||||
Total Revenue | 471,000 | |||||||||||
Accounting Standards Update 2014-09 [Member] | Service [Member] | ||||||||||||
Stockholders' equity | ||||||||||||
Total Revenue | 350,000 | |||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect Before and After Topic 606 [Member] | ||||||||||||
Assets | ||||||||||||
Prepaid expenses and other current assets | 1,074,000 | 1,074,000 | 147,000 | |||||||||
Liabilities | ||||||||||||
Accrued expenses | 6,590,000 | 6,590,000 | ||||||||||
Deferred revenue | 167,000 | 167,000 | ||||||||||
Contract liabilities | 5,437,000 | 5,437,000 | (369,000) | |||||||||
Deferred tax | 3,000 | 3,000 | ||||||||||
Stockholders' equity | ||||||||||||
Accumulated deficit | $ (224,704,000) | (224,704,000) | $ 108,000 | |||||||||
Total Revenue | 821,000 | $ 116,000 | ||||||||||
Operating expenses | ||||||||||||
Marketing and sales | 14,013,000 | |||||||||||
Interest expense | (784,000) | |||||||||||
Other Operating Income | 344,000 | |||||||||||
Income tax (benefit) expense | 43,000 | |||||||||||
Net loss | (14,751,000) | |||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect Before and After Topic 606 [Member] | Product [Member] | ||||||||||||
Stockholders' equity | ||||||||||||
Total Revenue | 19,296,000 | |||||||||||
Cost of revenue | ||||||||||||
Cost of revenue | 3,278,000 | |||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect Before and After Topic 606 [Member] | Service [Member] | ||||||||||||
Stockholders' equity | ||||||||||||
Total Revenue | 11,223,000 | |||||||||||
Cost of revenue | ||||||||||||
Cost of revenue | $ 3,438,000 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Revenues Disaggregated by Major Good or Service Line, Timing of Revenue Recognition, and Sales Channel, Reconciled to Our Reportable Segments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | $ 31,340 | $ 25,080 | $ 27,517 |
Revenue from lease components | 541 | 585 | |
Total Revenue | 31,340 | 25,621 | 28,102 |
Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 21,745 | 15,176 | 16,413 |
Service Contracts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 7,184 | 6,761 | 7,169 |
Supply and Source Usage Agreements [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 2,036 | 2,261 | 1,956 |
Professional Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 153 | 264 | 254 |
Other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 222 | 618 | 1,725 |
Goods Transferred at a Point in Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 22,340 | 15,511 | 16,950 |
Services Transferred over Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 9,000 | 9,569 | 10,567 |
Direct Sales [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 17,772 | 15,889 | 16,141 |
OEM Partners [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 10,351 | 7,988 | 9,938 |
Channel Partners [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 3,217 | 1,203 | 1,438 |
Detection [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 22,319 | 16,323 | 17,725 |
Revenue from lease components | 541 | 585 | |
Total Revenue | 22,319 | 16,864 | 18,310 |
Detection [Member] | Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 16,788 | 10,783 | 11,650 |
Detection [Member] | Service Contracts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 5,370 | 5,311 | 5,687 |
Detection [Member] | Other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 161 | 229 | 388 |
Detection [Member] | Goods Transferred at a Point in Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 16,949 | 10,835 | 11,684 |
Detection [Member] | Services Transferred over Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 5,370 | 5,488 | 6,041 |
Detection [Member] | Direct Sales [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 11,968 | 8,335 | 7,787 |
Detection [Member] | OEM Partners [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 10,351 | 7,988 | 9,938 |
Therapy [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 9,021 | 8,757 | 9,792 |
Total Revenue | 9,021 | 8,757 | 9,792 |
Therapy [Member] | Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 4,957 | 4,393 | 4,763 |
Therapy [Member] | Service Contracts [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 1,814 | 1,450 | 1,482 |
Therapy [Member] | Supply and Source Usage Agreements [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 2,036 | 2,261 | 1,956 |
Therapy [Member] | Professional Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 153 | 264 | 254 |
Therapy [Member] | Other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 61 | 389 | 1,337 |
Therapy [Member] | Goods Transferred at a Point in Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 5,391 | 4,676 | 5,266 |
Therapy [Member] | Services Transferred over Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 3,630 | 4,081 | 4,526 |
Therapy [Member] | Direct Sales [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 5,804 | 7,554 | 8,354 |
Therapy [Member] | Channel Partners [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | $ 3,217 | $ 1,203 | $ 1,438 |
Summary of Significant Accou_14
Summary of Significant Accounting Policies - Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Contract with Customer, Asset and Liability [Abstract] | ||||
Receivables, which are included in 'Trade accounts receivable' | $ 9,819,000 | $ 6,252,000 | ||
Contract assets, which are included in "Prepaid and other current assets" | 14,000 | 19,000 | $ 166,000 | |
Contract liabilities, which are included in "Deferred revenue" | $ 5,604,000 | $ 5,209,000 | $ 5,541,000 |
Summary of Significant Accou_15
Summary of Significant Accounting Policies - Summary of Deferred Revenue (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred Revenue Arrangement [Line Items] | |||
Contract liabilities | $ 5,604 | $ 5,209 | $ 5,541 |
Lease revenue | 287 | ||
Total | 5,496 | ||
Short-term Contract with Customer [Member] | |||
Deferred Revenue Arrangement [Line Items] | |||
Contract liabilities | 5,248 | 4,885 | |
Lease revenue | 280 | ||
Total | 5,165 | ||
Long-term Contract with Customer [Member] | |||
Deferred Revenue Arrangement [Line Items] | |||
Contract liabilities | $ 356 | 324 | |
Lease revenue | 7 | ||
Total | $ 331 |
Summary of Significant Accou_16
Summary of Significant Accounting Policies - Summary of Changes in Deferred Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Revenue Disclosure [Abstract] | ||
Balance at beginning of period | $ 5,209 | $ 5,541 |
Adoption adjustment | 39 | |
Deferral of revenue | 11,005 | 9,993 |
Recognition of deferred revenue | (10,610) | (10,364) |
Balance at end of period | $ 5,604 | $ 5,209 |
Summary of Significant Accou_17
Summary of Significant Accounting Policies - Schedule of Changes of Capitalized Costs to Obtain Contract (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Capitalized Contract Cost, Net [Abstract] | ||
Balance at beginning of period | $ 282,000 | $ 117,000 |
Deferral of costs to obtain a contract | 294,000 | 368,000 |
Recognition of costs to obtain a contract | (197,000) | (203,000) |
Balance at end of period | $ 379,000 | $ 282,000 |
Summary of Significant Accou_18
Summary of Significant Accounting Policies - Roll Forward of Warranty Cost (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | |||
Beginning accrual balance | $ 12 | $ 10 | $ 11 |
Warranty provision | 41 | 19 | 49 |
Usage | (36) | (17) | (50) |
Ending accrual balance | $ 17 | $ 12 | $ 10 |
Summary of Significant Accou_19
Summary of Significant Accounting Policies - Calculation of Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||||||||
Net loss available to common shareholders | $ (3,348) | $ (2,956) | $ (3,530) | $ (3,717) | $ (3,344) | $ (1,365) | $ (1,027) | $ (3,281) | $ (13,551) | $ (9,017) | $ (14,256) |
Basic shares used in the calculation of earnings per share | 18,378 | 16,685 | 16,343 | ||||||||
Effect of dilutive securities: | |||||||||||
Diluted shares used in the calculation of earnings per share | 18,378 | 16,685 | 16,343 | ||||||||
Net loss per share : | |||||||||||
Basic | $ (0.74) | $ (0.54) | $ (0.87) | ||||||||
Diluted | $ (0.74) | $ (0.54) | $ (0.87) |
Summary of Significant Accou_20
Summary of Significant Accounting Policies - Schedule of Anti-dilutive Shares Excluded from Computation of Diluted Net Loss Per Share (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock options, warrants and restricted stock | 3,444,071 | 4,149,179 | 1,880,262 |
Stock Options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock options, warrants and restricted stock | 1,550,662 | 1,983,477 | 1,465,115 |
Restricted Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock options, warrants and restricted stock | 150,909 | 423,202 | 415,147 |
Convertible Debentures [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common stock options, warrants and restricted stock | 1,742,500 | 1,742,500 |
Summary of Significant Accou_21
Summary of Significant Accounting Policies - Assets and Liabilities which are Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | |||
Total Assets | |||
Liabilities | |||
Total Liabilities | |||
Level 3 [Member] | Convertible Debentures [Member] | |||
Liabilities | |||
Total Liabilities | 13,642 | $ 6,970 | |
Fair Value, Measurements, Recurring [Member] | |||
Assets | |||
Total Assets | 15,313 | 12,134 | |
Liabilities | |||
Total Liabilities | 13,642 | 6,970 | |
Fair Value, Measurements, Recurring [Member] | Convertible Debentures [Member] | |||
Liabilities | |||
Total Liabilities | 13,642 | 6,970 | |
Fair Value, Measurements, Recurring [Member] | Money Market Accounts [Member] | |||
Assets | |||
Total Assets | 15,313 | 12,134 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | |||
Assets | |||
Total Assets | 15,313 | 12,134 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money Market Accounts [Member] | |||
Assets | |||
Total Assets | 15,313 | 12,134 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | |||
Liabilities | |||
Total Liabilities | 13,642 | 6,970 | |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Convertible Debentures [Member] | |||
Liabilities | |||
Total Liabilities | $ 13,642 | $ 6,970 |
Summary of Significant Accou_22
Summary of Significant Accounting Policies - Level 3 Instruments (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | ||
Fair value adjustments | ||
Ending Balance | ||
Level 3 [Member] | Convertible Debentures [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 6,970 | |
Issuances | 6,970 | |
Fair value adjustments | 6,672 | |
Ending Balance | $ 13,642 | $ 6,970 |
Sale of MRI Assets - Additional
Sale of MRI Assets - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2019 | Jan. 30, 2017 | Dec. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Holdback reserve related to sale and transfer of intangible assets | $ 350,000 | |||
VersaVue Software and DynaCAD Product and Related Assets [Member] | Asset Purchase Agreement [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Sale and transfer of intangible assets | $ 3,200,000 | |||
Holdback reserve related to sale and transfer of intangible assets | $ 350,000 | $ 350,000 | ||
Allocation of goodwill to asset held for sale | $ 394,000 | |||
Gain on sale and transfer of intangible assets | $ 2,508,000 | |||
Proceeds from sale and transfer of intangible assets | $ 2,900,000 |
Sale of MRI Assets - Schedule o
Sale of MRI Assets - Schedule of Components of Gain on Sale (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2019 | Jan. 30, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Cash received | $ 2,850,000 | ||
Holdback reserve | $ 350,000 | ||
Asset Purchase Agreement [Member] | VersaVue Software and DynaCAD Product and Related Assets [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Cash received | 2,850,000 | ||
Holdback reserve | 350,000 | $ 350,000 | |
Fair value of transition services | (118,000) | ||
Net Assets sold | (574,000) | ||
Total | $ 2,508,000 |
Financing Arrangements - Additi
Financing Arrangements - Additional Information (Detail) | Feb. 21, 2020USD ($)shares$ / shares | Dec. 21, 2018 | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2019USD ($)Trial$ / shares | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Aug. 07, 2017USD ($) |
Debt Instrument [Line Items] | |||||||
Maturity date of revolving loans | Mar. 1, 2022 | ||||||
Description on maturity date of revolving loans and term loans | The maturity date of the Revolving Loans is March 1, 2022. However, the maturity date will become April 30, 2020 or April 30, 2021 if on or before March 31, 2020 or 2021, as applicable, the Company does not agree in writing to the revenue and adjusted EBITDA (as defined in the Loan Agreement) covenant levels negotiated with the Bank with respect to the upcoming 2020 or 2021 calendar year. | ||||||
Termination fee percentage | (2.00%) | ||||||
Accrued Final Payment | $ (131,000) | $ (163,000) | |||||
Line of credit, closing costs | $ 74,000 | 74,000 | |||||
Debt issuance costs | 503,000 | ||||||
Loss from fair value of the convertible debentures | 6,700,000 | ||||||
Revolving loans drawn | $ 3,000,000 | ||||||
Prime Rate [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate | 0.50% | 0.50% | |||||
Minimum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Term loan advances prior to maturity | 1.00% | ||||||
Maximum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Term loan advances prior to maturity | 3.00% | ||||||
Silicon Valley Bank [Member] | Fourth Loan Modification Agreement [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Minimum consolidated revenues | $ 14,500,000 | ||||||
Minimum adjusted EBITDA levels | $ (4,000,000) | ||||||
Convertible Debt [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate | 5.00% | 5.00% | |||||
Aggregate principal amount | $ 7,000,000 | $ 7,000,000 | |||||
Frequency of periodic payment of interest | payable semi-annually on December 21st and June 21st | ||||||
Maturity date | Dec. 21, 2021 | ||||||
Debt conversion, conversion price per share | $ / shares | $ 4 | $ 4 | |||||
Percentage of common stock shares issued and outstanding upon conversion of convertible debentures | 19.99% | ||||||
Debt issuance costs | $ 503,000 | $ 503,000 | |||||
Convertible Debt [Member] | Subsequent Event [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt conversion, conversion price per share | $ / shares | $ 4 | ||||||
Convertible debenture Number of instrumnts converted | shares | 1,742,500 | ||||||
Accrued Interest On Debt Instrument | $ 59,000 | ||||||
Convertible Debt [Member] | Subsequent Event [Member] | Make Whole Provision [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal amount | $ 638,000 | ||||||
Convertible debenture Number of instrumnts converted | shares | 73,589 | ||||||
Convertible Debt [Member] | Monte Carlo Simulation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Number of trials to detremine fair value | Trial | 100,000 | ||||||
Debt insrument redemption description | The simulation utilizes the assumptions that if the Company is able to exercise its Forced Conversion right (if the requirements to do so are met), that it will do so in 100% of such scenarios. Additionally, if an event of default occurs during the simulated trial (based on the Company’s probability of default), the Investors will opt to redeem the Convertible Debentures in 100% of such scenarios. | ||||||
Convertible Debt [Member] | Minimum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Percentage of repurchase price | 115.00% | ||||||
Interest rate upon an event of default | 10.00% | ||||||
Convertible Debt [Member] | Directors And Employees [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal amount | $ 630,000 | ||||||
Purchase pecentage of principal value of convertible debentures | 9.00% | ||||||
Term Loan A [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Credit facility, contingent borrowing capacity | $ 3,000,000 | $ 3,000,000 | |||||
Accrued Final Payment | $ 293,000 | $ 163,000 | |||||
Term loan final payment percentage | 8.50% | 8.50% | 8.00% | ||||
Revolving loans drawn | $ 2,000,000 | ||||||
Term Loan A [Member] | Silicon Valley Bank [Member] | Tranche One [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Beginning date of repayment | Mar. 1, 2019 | ||||||
Term loan monthly installments | 30 | ||||||
Maturity date of revolving loans | Aug. 1, 2021 | ||||||
Term Loan A [Member] | Minimum [Member] | Silicon Valley Bank [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Net revenues | $ 21,500,000 | ||||||
Term Loan A [Member] | Maximum [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Period to evaluate accounting impact of each modification | 12 months | ||||||
Term Loan A [Member] | Silicon Valley Bank [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Credit facility | $ 6,000,000 | ||||||
Revolving Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, interest rate | 1.50% | 1.50% | |||||
Revolving loans drawn | $ 2,000,000 | ||||||
Ratio of unrestricted cash to outstanding liabilities to bank | 1.25 to 1.0 | ||||||
Revolving Credit Facility [Member] | Prime Rate [Member] | Ratio Satisfaction [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument prime rate | (4.75%) | ||||||
Revolving Credit Facility [Member] | Silicon Valley Bank [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Credit facility | $ 4,000,000 |
Financing Arrangements - Schedu
Financing Arrangements - Schedule of Carrying Value of Term Loan Net of Debt Issuance Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Shares Issued And Outstanding [Line Items] | ||
Accrued Final Payment | $ (131) | $ (163) |
Amount Drawn on Line of Credit | 3,000 | |
Less current portion of Term Loan | (4,250) | (1,851) |
Notes payable long-term portion | 2,003 | 4,254 |
Term Loan A [Member] | ||
Shares Issued And Outstanding [Line Items] | ||
Principal Amount of Term Loan | 4,000 | 6,000 |
Unamortized closing costs | (40) | (58) |
Accrued Final Payment | 293 | 163 |
Amount Drawn on Line of Credit | 2,000 | |
Carrying amount of Term Loan | 6,253 | 6,105 |
Less current portion of Term Loan | (4,250) | (1,851) |
Notes payable long-term portion | $ 2,003 | $ 4,254 |
Financing Arrangements - Sche_2
Financing Arrangements - Schedule of Key Inputs to Simulation Model Utilized to Estimate Fair Value of Convertible Debentures (Detail) - Convertible Debt [Member] | Dec. 31, 2019yr | Dec. 31, 2018yr | Dec. 21, 2018yr | |
Company's Stock Price [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | 7.77 | 3.70 | 3.68 | |
Conversion Price [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | 4 | 4 | 4 | |
Remaining Term (Years) [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | 1.97 | 2.97 | 3 | |
Equity Volatility [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | 49 | 54 | 54 | |
Risk Free Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | 1.57 | 2.46 | 2.58 | |
Probability of Default Event [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | [1] | 0.45 | 0.81 | 0.75 |
Utilization of Forced Conversion [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | [1] | 100 | 100 | 100 |
Exercise of Default Redemption [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | [1] | 100 | 100 | 100 |
Effective Discount Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Measurement Input | [1] | 18.52 | 21.90 | 21.90 |
[1] | Represents a Level 3 unobservable input, as defined in Note 8 - Fair Value Measurements, below. |
Financing Arrangements - Sche_3
Financing Arrangements - Schedule of Fair Value and Principal Value of Convertible Debentures (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 21, 2018 |
Debt Disclosure [Abstract] | |||
Fair value, in accordance with fair value option | $ 13,642 | $ 6,970 | $ 6,970 |
Principal value outstanding | $ 6,970 | $ 6,970 | $ 6,970 |
Finance Arrangements - Summary
Finance Arrangements - Summary of Future Principal and Interest Payments Related to Loan Agreement and Convertible Debentures (Detail) - Term Loan A [Member] $ in Thousands | Dec. 31, 2019USD ($) |
Shares Issued And Outstanding [Line Items] | |
2020 | $ 4,889 |
2021 | 9,457 |
Total | $ 14,346 |
Finance Arrangements - Interest
Finance Arrangements - Interest Expense in Consolidated Income Statement (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest Expense [Line Items] | |||
Amortization of debt costs | $ 28 | $ 29 | $ 9 |
Accrual of notes payable final payment | 131 | 163 | |
Amortization of settlement obligations | 26 | ||
Interest expense capital lease | 2 | 4 | 1 |
Capital Lease Fair Value Amortization | (10) | ||
Total interest expense | 784 | 504 | 124 |
Term Loan A [Member] | |||
Interest Expense [Line Items] | |||
Cash interest expense | 274 | 299 | $ 98 |
Accrual of notes payable final payment | (293) | (163) | |
Convertible Debt [Member] | |||
Interest Expense [Line Items] | |||
Cash interest expense | $ 349 | $ 9 |
Accrued and Other Expenses - Ac
Accrued and Other Expenses - Accrued Expenses (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Payables and Accruals [Abstract] | ||
Accrued salary and related expenses | $ 3,200 | $ 1,811 |
Accrued accounts payable | 2,718 | 2,329 |
Accrued professional fees | 510 | 737 |
Other accrued expenses | 162 | 91 |
Deferred rent | 92 | |
Accrued Expenses Total | $ 6,590 | $ 5,060 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) | Jan. 22, 2020 | Dec. 05, 2019 | Aug. 12, 2019 | Dec. 31, 2019 |
Lessee, Lease, Description [Line Items] | ||||
Lease immaterial expense | $ 14,000 | |||
Operating Lease Liability | $ 2,583,000 | |||
San Jose California [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Lease Expiration Date | Mar. 31, 2020 | |||
Lease not yet commenced expiration date | Mar. 31, 2023 | |||
Operating Lease Liability | $ 1,900,000 | |||
Nashua NH Headquarter Lease [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Lease Expiration Date | Feb. 29, 2020 | |||
Lease not yet commenced expiration date | Mar. 31, 2022 | Feb. 28, 2023 | ||
Operating Lease Liability | $ 70,000 | $ 600,000 | ||
Maximum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Remaining lease term | 3 years | |||
Minimum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Remaining lease term | 1 year |
Leases - Schedule of Components
Leases - Schedule of Components of Lease Expense (Detail) - Accounting Standards Update 2016-02 [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | |
Operating lease cost - Right of Use | $ 804 |
Operating lease cost - Variable Costs | 173 |
Finance lease costs | |
Amortization of leased assets | 15 |
Interest on lease liabilities Interest expense | 2 |
Total | 994 |
Cash paid for operating cash flows from operating leases | 840 |
Cash paid for operating cash flows from finance leases | 2 |
Cash paid for financing cash flows from finance leases | $ 17 |
Weighted-average remaining lease term of operating leases (in years) | 3 years 1 month 13 days |
Weighted-average remaining lease term of finance leases (in years) | 1 year |
Weighted-average discount rate for operating leases | 5.60% |
Weighted-average discount rate for finance leases | 5.40% |
Leases - Summary of Detained In
Leases - Summary of Detained Information of Lease Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Leases [Abstract] | |||
2020 | $ 873 | ||
2021 | 875 | ||
2022 | 881 | ||
2023 | 201 | ||
Total | 2,830 | ||
Less: imputed interest | (247) | ||
Total lease liabilities | 2,583 | ||
Less: current portion of lease liabilities | (746) | $ (795) | $ (15) |
Total lease liabilities | 1,837 | $ 217 | 38 |
2020 | 13 | ||
2021 | |||
2022 | |||
2023 | |||
Total lease payments | 13 | ||
Less: imputed interest | (1) | ||
Total lease liabilities | 12 | ||
Less: current portion of lease liabilities | (12) | ||
Long-term lease liabilities | |||
2020 | 886 | ||
2021 | 875 | ||
2022 | 881 | ||
2023 | 201 | ||
Total lease payments | 2,843 | ||
Less: imputed interest | (248) | ||
Total lease liabilities | 2,595 | ||
Less: current portion of lease liabilities | (758) | $ (15) | |
Long-term lease liabilities | $ 1,837 |
Leases - Summary of Cumulative
Leases - Summary of Cumulative Effect of The Changes (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Assets | |||
Operating lease assets | $ 2,406 | $ 907 | |
Liabilities | |||
Deferred rent, current portion (within accrued expenses) | $ 92 | ||
Deferred rent, long-term portion (within other long-term liabilities) | 27 | ||
Lease payable - current portion | 746 | 795 | 15 |
Lease payable, long-term portion | $ 1,837 | 217 | $ 38 |
Accounting Standards Update 2016-02 [Member] | |||
Assets | |||
Operating lease assets | 907 | ||
Liabilities | |||
Deferred rent, current portion (within accrued expenses) | (92) | ||
Deferred rent, long-term portion (within other long-term liabilities) | (27) | ||
Lease payable - current portion | 780 | ||
Lease payable, long-term portion | $ 179 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) | Dec. 31, 2019USD ($)hshares | Jun. 30, 2019USD ($)shares | Dec. 31, 2019USD ($)Incentive_Planhshares | Dec. 31, 2018shares | Dec. 31, 2017shares | Dec. 31, 2016shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issue of common stock | 1,881,818 | |||||
Net proceeds from Issue of common stock | $ | $ 9,400,000 | $ 9,353,000 | ||||
Number of stock option | Incentive_Plan | 2 | |||||
Total unrecognized compensation costs | $ | $ 1,200,000 | $ 1,200,000 | ||||
Period of expected recognized over a weighted average | 10 months 24 days | |||||
Dividends paid on common stock | $ | $ 0 | |||||
ESPP offerings outstanding | 1,550,662 | 1,550,662 | 1,983,477 | 1,465,115 | 1,425,348 | |
Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of share options available for grant | 932,546 | 932,546 | ||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Period of options granted | 1 year | |||||
Number of restricted stock granted | 15,990 | 379,439 | 394,599 | |||
Performance Based Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of restricted stock granted | 162,500 | 189,583 | ||||
Performance Based Restricted Stock [Member] | Vesting Period One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares expected to vest | 63,194 | 63,194 | ||||
Performance Based Restricted Stock [Member] | Vesting Period Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares expected to vest | 63,194 | 63,194 | ||||
Performance Based Restricted Stock [Member] | Vesting Period Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares expected to vest | 63,194 | 63,194 | ||||
Time Based Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of restricted stock granted | 15,990 | 334,083 | 183,500 | |||
Time Based Restricted Stock [Member] | Vesting Period One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares expected to vest | 45,356 | 211,099 | ||||
Maximum [Member] | Performance Based Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of additional shares available for granted | 108,333 | |||||
2002 Stock Option Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate purchase of Company's common stock | 100,000 | 100,000 | ||||
Percentage of stockholders exercise price | 10.00% | |||||
Percentage of market price for calculation of purchase price | 110.00% | |||||
Percentage of options granted | 100.00% | |||||
Period of expiration | 10 years | |||||
Number of percentage of stockholders | 10.00% | |||||
Period of expiration for specific stockholders | 5 years | |||||
Period of exercisable stock option granted | 10 years | |||||
Vesting date of grant, First anniversaries | 33.00% | |||||
Vesting date of grant, Second anniversaries | 33.00% | |||||
Vesting date of grant, Third anniversaries | 33.00% | |||||
Number of share options available for grant | 0 | 0 | ||||
2002 Stock Option Plan [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Period of options granted | 5 years | |||||
2002 Stock Option Plan [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Period of options granted | 6 months | |||||
2004 Stock Option plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of stockholders exercise price | 10.00% | |||||
Percentage of market price for calculation of purchase price | 110.00% | |||||
Percentage of options granted | 100.00% | |||||
Period of options granted | 5 years | |||||
Period of expiration | 10 years | |||||
Number of percentage of stockholders | 10.00% | |||||
Period of expiration for specific stockholders | 5 years | |||||
Period of exercisable stock option granted | 10 years | |||||
Vesting date of grant, First anniversaries | 33.00% | |||||
Vesting date of grant, Second anniversaries | 33.00% | |||||
Vesting date of grant, Third anniversaries | 33.00% | |||||
Number of share options available for grant | 0 | 0 | ||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 200,000 | 200,000 | ||||
2005 Stock Option Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate purchase of Company's common stock | 120,000 | 120,000 | ||||
Percentage of stockholders exercise price | 10.00% | |||||
Percentage of market price for calculation of purchase price | 110.00% | |||||
Percentage of options granted | 100.00% | |||||
Period of options granted | 3 years | |||||
Period of expiration | 5 years | |||||
Number of percentage of stockholders | 10.00% | |||||
Period of expiration for specific stockholders | 5 years | |||||
Period of exercisable stock option granted | 10 years | |||||
Vesting date of grant, First anniversaries | 33.00% | |||||
Vesting date of grant, Second anniversaries | 33.00% | |||||
Vesting date of grant, Third anniversaries | 33.00% | |||||
Number of share options available for grant | 0 | 0 | ||||
2012 Stock Option Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate purchase of Company's common stock | 1,600,000 | 1,600,000 | ||||
Percentage of stockholders exercise price | 10.00% | |||||
Percentage of market price for calculation of purchase price | 110.00% | |||||
Number of share options available for grant | 98,938 | 98,938 | ||||
Aggregate purchase of Company's common stock, maximum | 250,000 | 250,000 | ||||
Percentage of options granted | 100.00% | |||||
2016 Stock Option Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate purchase of Company's common stock | 2,600,000 | 2,600,000 | ||||
Number of share options available for grant | 833,608 | 833,608 | ||||
Aggregate purchase of Company's common stock, maximum | 1,000,000 | 1,000,000 | ||||
Percentage of options granted | 100.00% | |||||
Number of share options available for grant | $ | $ 100,000 | |||||
2016 Stock Option Plan [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of share options available for grant | 1,000,000 | 1,000,000 | ||||
2016 Stock Option Plan [Member] | Maximum [Member] | Non Employee Directors [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of share options available for grant | 120,000 | 120,000 | ||||
ESPP [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate purchase of Company's common stock | 950,000 | 950,000 | ||||
Hours eligible to participate in the ESPP | h | 20 | 20 | ||||
Percentage of voting right not eligible for ESPP | 5.00% | 5.00% | ||||
Share-based payment award, maximum employee subscription rate | 15.00% | 15.00% | ||||
Share-based payment award, discount from market price, offering date | 85.00% | |||||
Maximum amout of purchase allowed | $ | $ 25,000,000 | |||||
ESPP offerings outstanding | 0 | 0 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Stock Option Activity for all Stock Option plan (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Payment Arrangement [Abstract] | |||
Beginning balance | 1,983,477 | 1,465,115 | 1,425,348 |
Granted | 392,270 | 888,263 | 200,813 |
Exercised | (379,980) | (139,556) | (36,530) |
Forfeited | (445,105) | (230,345) | (124,516) |
Ending Balance | 1,550,662 | 1,983,477 | 1,465,115 |
weighted Average, Beginning Balance | $ 4.25 | $ 5.03 | $ 5.05 |
Granted | 5.81 | 2.95 | 4.14 |
Exercised | 3.39 | 2.27 | 2.18 |
Forfeited | 6.06 | 5.41 | 4.71 |
Weighted Average, Ending Balance | $ 4.33 | $ 4.25 | $ 5.03 |
Weighted Average Remaining Contractual Term, Outstanding | 5 years | ||
Exercisable, Number of Shares | 881,461 | 1,296,439 | 1,301,651 |
Exerciable, Weighted Average Exercise Price | $ 4.43 | $ 4.90 | $ 4.95 |
weigthted Average Remaining Contractual Term, Exercisable | 4 years |
Stockholders' Equity - Stock-Ba
Stockholders' Equity - Stock-Based Compensation Expense Including Options and Restricted Stock by Category (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Allocated share-based compensation expense | $ 1,168 | $ 1,505 | $ 3,656 |
Cost of Revenue [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Allocated share-based compensation expense | 3 | 4 | 5 |
Engineering and Product Development [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Allocated share-based compensation expense | 226 | 399 | 715 |
Marketing and Sales [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Allocated share-based compensation expense | 226 | 190 | 1,003 |
General and Administrative Expense [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Allocated share-based compensation expense | $ 713 | $ 912 | $ 1,933 |
Stockholders' Equity - Options
Stockholders' Equity - Options Granted under Company's Stock Incentive Plans, Valuation Assumptions and Fair Values (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average exercise price | $ 5.81 | $ 2.95 | $ 4.14 |
Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Average rish-free interest rate | 1.88% | 2.65% | 1.61% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected life | 3 years 6 months | 3 years 6 months | 3 years 6 months |
Weighted average exercise price | $ 5.92 | $ 2.96 | $ 4.14 |
Weighted average fair value | $ 2.34 | $ 1.23 | $ 1.99 |
Stock Option [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility | 54.23% | 61.60% | 72.00% |
Stock Option [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility | 50.01% | 50.40% | 64.20% |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summary of Intrinsic Values of Options (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Payment Arrangement [Abstract] | |||
Stock Option outstanding | $ 5,465 | $ 1,021 | $ 449 |
Exercisable | 3,067 | 499 | 442 |
Exercised | $ 509 | $ 224 | $ 79 |
Stock Price | $ 7.77 | $ 3.70 | $ 3.44 |
Stockholders' Equity - Summar_3
Stockholders' Equity - Summary of Restricted Stock Activity for All Equity Incentive Plans (Detail) - Restricted Stock [Member] - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Beginning outstanding balance | 423,202 | 415,147 | 511,398 |
Granted | 15,990 | 379,439 | 394,599 |
Vested | (197,730) | (322,388) | (469,434) |
Forfeited | (90,553) | (48,996) | (21,416) |
Ending outstanding balance | 150,909 | 423,202 | 415,147 |
Stockholders' Equity - Summar_4
Stockholders' Equity - Summary of Intrinsic Values of Restricted Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of stock options outstanding, Beginning of period | $ 1,173 | $ 1,566 | $ 1,428 |
Number of stock options outdtanding, vested | $ 1,536 | $ 1,193 | $ 1,615 |
Number of stock options outstanding, Stock price | $ 7.77 | $ 3.70 | $ 3.44 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current provision (benefit): | |||
Federal | |||
State | 42 | $ 54 | $ (26) |
Current provision (benefit), Total | 42 | 54 | (26) |
Deferred provision: | |||
Federal | 1 | (10) | 7 |
State | (2) | 1 | |
Deferred provision, Total | 1 | (12) | 8 |
Total | $ 43 | $ 42 | $ (18) |
Income Taxes - Summary of Effec
Income Taxes - Summary of Effective and the Federal Statutory Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Income Tax Expense [Line Items] | |||
Federal statutory rate | 21.00% | 21.00% | 34.00% |
State income taxes, net of federal benefit | 1.70% | 3.60% | 1.40% |
Net state impact of deferred rate change | (0.20%) | 0.60% | (0.30%) |
Stock compensation expense | (10.70%) | (1.10%) | (1.90%) |
Tax amortization on goodwill | 0.00% | 0.10% | (0.10%) |
Goodwill impairment | 0.00% | 0.00% | (13.70%) |
Other permanent differences | 0.00% | (0.50%) | (0.40%) |
Change in valuation allowance | (6.00%) | (27.60%) | 97.40% |
Tax credits | 2.80% | 3.10% | 1.50% |
Federal Rate Change | 0.00% | 0.00% | (133.50%) |
Accrual to TR | 1.30% | 0.30% | (0.70%) |
FV Mark to market on convertible notes | (10.40%) | 0.00% | 0.00% |
Foreign Rate Differential | 0.20% | 0.00% | 0.00% |
Effective income tax | (0.30%) | (0.50%) | (0.10%) |
Xoft Inc [Member] | |||
Schedule Of Income Tax Expense [Line Items] | |||
Increase Xoft NOLs under 382 Study | 0.00% | 0.00% | 16.20% |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Inventory (Section 263A) | $ 242 | $ 239 |
Inventory reserves | 118 | 270 |
Receivable reserves | 35 | 45 |
Other accruals | 1,151 | 88 |
Deferred revenue | 123 | 85 |
Accumulated depreciation/amortization | 66 | 138 |
Stock options | 267 | 1,879 |
Developed technology | 1,702 | 2,031 |
Tax credits | 3,663 | 3,364 |
NOL carryforward | 33,640 | 32,074 |
Lease liability | 625 | |
Net deferred tax assets | 41,632 | 40,213 |
Valuation allowance | (41,025) | (40,213) |
Right of Use Asset | (607) | |
Goodwill tax amortization | (3) | (3) |
Deferred tax liability | $ (3) | $ (3) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Income Tax Expense [Line Items] | |||
Federal net operating loss carryforwards | $ 140,100,000 | ||
Net operating losses utilized | 0 | $ 0 | $ 0 |
Unrecognized tax benefits | 0 | 0 | |
Interest or penalties related to uncertain tax positions | $ 0 | 0 | $ 0 |
Company preceding tax years | 3 years | ||
Tax credits | $ 3,663,000 | $ 3,364,000 | |
Expire Between 2019 And 2037 [Member] | |||
Schedule Of Income Tax Expense [Line Items] | |||
Federal net operating loss carryforwards | 124,800,000 | ||
Indefinite Period [Member] | |||
Schedule Of Income Tax Expense [Line Items] | |||
Federal net operating loss carryforwards | $ 14,900,000 | ||
Minimum [Member] | |||
Schedule Of Income Tax Expense [Line Items] | |||
Expiring date of net operating loss carryforward | 2020 | ||
Maximum [Member] | |||
Schedule Of Income Tax Expense [Line Items] | |||
Expiring date of net operating loss carryforward | 2037 | ||
Xoft Inc [Member] | |||
Schedule Of Income Tax Expense [Line Items] | |||
Net operating losses that are subject to limitations | $ 7,200,000 | ||
Net operating losses that are subject to limitations that can be used through 2029 | 656,000 | ||
Future Income tax liabilities offset With operation loss carryforward | $ 3,700,000 | ||
Tax credit carryforward expiration year | 2039 | ||
Tax credits | $ 1,800,000 |
Segment Reporting, Geographic_3
Segment Reporting, Geographical Information and Major Customers - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)SegmentCustomer | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Schedule Of Geographical Information [Line Items] | |||||||||||
Number of reporting segments | Segment | 2 | ||||||||||
Percentage of export sales to any single country | 10.00% | ||||||||||
Total Export Sales | $ 31,340 | $ 25,621 | $ 28,102 | ||||||||
Outstanding receivables | $ 9,819 | $ 6,252 | $ 9,819 | 6,252 | |||||||
Number of major customers | Customer | 1 | ||||||||||
Total Revenue | 9,381 | $ 7,857 | $ 7,329 | $ 6,773 | 6,954 | $ 6,192 | $ 6,162 | $ 6,313 | $ 31,340 | $ 25,621 | $ 28,102 |
Percentage of receivables | 100.00% | 100.00% | 100.00% | ||||||||
GE Healthcare [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Outstanding receivables | 2,400 | $ 2,400 | |||||||||
OEM Partners [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Outstanding receivables | 4,900 | 4,900 | |||||||||
Three Customers [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Outstanding receivables | 1,500 | 1,500 | |||||||||
Eleven Customers [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Outstanding receivables | 6,400 | 6,400 | |||||||||
Sales [Member] | GE Healthcare [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Total Revenue | $ 7,600 | $ 6,100 | $ 7,100 | ||||||||
Sales [Member] | Customer Concentration Risk [Member] | GE Healthcare [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 24.00% | 24.00% | 25.00% | ||||||||
Sales [Member] | Customer Concentration Risk [Member] | Five Customers [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 33.00% | 33.00% | 33.00% | ||||||||
Sales [Member] | Detection [Member] | Customer Concentration Risk [Member] | Five Customers [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 46.00% | 50.00% | 55.00% | ||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | GE Healthcare [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 49.00% | ||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | OEM Partners [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 50.00% | ||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Three Customers [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 15.00% | ||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Eleven Customers [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of receivables | 65.00% | ||||||||||
Non-US [Member] | |||||||||||
Schedule Of Geographical Information [Line Items] | |||||||||||
Percentage of export sales of total sale | 12.00% | 12.00% | 14.00% | ||||||||
Total Export Sales | $ 3,800 | $ 3,200 | $ 3,900 | ||||||||
Outstanding receivables | $ 2,100 | $ 1,100 | $ 2,100 | $ 1,100 |
Segment Reporting, Geographic_4
Segment Reporting, Geographical Information and Major Customers - Summary of Segment Revenues, Gross Profit, Segment Operating Income or Loss and Reconciliation of Segment Operating Income or Loss to GAAP Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment revenues: | |||||||||||
Total Revenue | $ 9,381 | $ 7,857 | $ 7,329 | $ 6,773 | $ 6,954 | $ 6,192 | $ 6,162 | $ 6,313 | $ 31,340 | $ 25,621 | $ 28,102 |
Segment gross profit: | |||||||||||
Segment gross profit | $ 7,165 | $ 6,054 | $ 5,726 | $ 5,282 | $ 5,410 | $ 4,738 | $ 4,784 | $ 4,498 | 24,227 | 19,430 | 18,176 |
Segment operating income (loss): | |||||||||||
Segment operating income (loss) | 1,088 | 1,039 | (8,701) | ||||||||
General, administrative, depreciation and amortization expense | (7,447) | (9,169) | (7,975) | ||||||||
Interest expense | (784) | (504) | (124) | ||||||||
Financing Costs | (451) | ||||||||||
Gain on sale of MRI assets | 2,508 | ||||||||||
Other income | 306 | 110 | 110 | ||||||||
Fair value of convertible debentures | (6,671) | ||||||||||
Loss before income tax (benefit) expense | (13,508) | (8,975) | (14,274) | ||||||||
Product [Member] | |||||||||||
Segment revenues: | |||||||||||
Total Revenue | 19,767 | 13,111 | 13,554 | ||||||||
Service [Member] | |||||||||||
Segment revenues: | |||||||||||
Total Revenue | 11,573 | 12,510 | 14,548 | ||||||||
Detection [Member] | |||||||||||
Segment gross profit: | |||||||||||
Segment gross profit | 18,627 | 14,709 | 16,218 | ||||||||
Segment operating income (loss): | |||||||||||
Segment operating income (loss) | 2,564 | 3,412 | 6,401 | ||||||||
Detection [Member] | Product [Member] | |||||||||||
Segment revenues: | |||||||||||
Total Revenue | 22,319 | 16,864 | 18,310 | ||||||||
Therapy [Member] | |||||||||||
Segment gross profit: | |||||||||||
Segment gross profit | 5,600 | 4,721 | 1,958 | ||||||||
Segment operating income (loss): | |||||||||||
Segment operating income (loss) | (1,476) | (2,373) | (15,102) | ||||||||
Therapy [Member] | Service [Member] | |||||||||||
Segment revenues: | |||||||||||
Total Revenue | $ 9,021 | $ 8,757 | $ 9,792 |
Segment Reporting, Geographic_5
Segment Reporting, Geographical Information and Major Customers - Summary of Segment Depreciation and Amortization Included in Segment Operating Income (Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Depreciation | $ 297 | $ 325 | $ 995 |
Amortization | 377 | 383 | 494 |
Detection [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Depreciation | 103 | 106 | 172 |
Amortization | 240 | 248 | 246 |
Therapy [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Depreciation | 166 | 177 | 768 |
Amortization | $ 128 | $ 129 | $ 222 |
Segment Reporting, Geographic_6
Segment Reporting, Geographical Information and Major Customers - Summary of Concentration of Revenue by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 100.00% | 100.00% | 100.00% |
Total Export sales | $ 3,788 | $ 3,255 | $ 3,931 |
Europe | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 57.00% | 51.00% | 68.00% |
Taiwan | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 15.00% | 22.00% | 11.00% |
Canada | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 7.00% | 7.00% | 5.00% |
China | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 8.00% | 0.00% | 9.00% |
Other | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 13.00% | 20.00% | 7.00% |
France | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 34.00% | 36.00% | 41.00% |
Spain | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 12.00% | 8.00% | 9.00% |
Germany | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 4.00% | 3.00% | 7.00% |
Bulgaria | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 0.00% | 1.00% | 2.00% |
United Kingdom | |||
Schedule Of Concentration Of Revenue By Geographic Area [Line Items] | |||
Percent of Export sales | 2.00% | 0.00% | 2.00% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Dec. 27, 2018 | Nov. 08, 2018 | Feb. 28, 2010 | Jul. 31, 2007 | Dec. 31, 2019 | Dec. 31, 2017 | Jan. 30, 2017 | Dec. 31, 2016 |
Schedule Of Leases [Line Items] | ||||||||
Purchase obligations to suppliers for future product deliverables | $ 4,900,000 | |||||||
Holdback reserve related to sale and transfer of intangible assets | 350,000 | |||||||
Employer matching Contribution | 500,000 | |||||||
Employer matching Contribution to be paid in next fiscal year | 500,000 | |||||||
Minimum annual royalty payment | 250,000 | |||||||
Fair value of patent license | $ 100,000 | |||||||
Patent license, Estimated Amortizable Life | 4 years | |||||||
Minimum royalty obligations | $ 400,000 | |||||||
Amount of indemnification obligation | $ 350,000 | |||||||
Chief Executive Officer [Member] | ||||||||
Schedule Of Leases [Line Items] | ||||||||
Accrued separation benefis | $ 1,009,000 | |||||||
Separation benefits severance period | 24 months | |||||||
Separation Benefits Health Benefits Period | 18 months | |||||||
Separation benefits payable beginning date | 2019-05 | |||||||
Chief Financial Officer [Member] | ||||||||
Schedule Of Leases [Line Items] | ||||||||
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits | $ 0 | |||||||
VersaVue Software and DynaCAD Product and Related Assets [Member] | Asset Purchase Agreement [Member] | ||||||||
Schedule Of Leases [Line Items] | ||||||||
Sale and transfer of intangible assets | $ 3,200,000 | |||||||
Holdback reserve related to sale and transfer of intangible assets | $ 350,000 | $ 350,000 | ||||||
Proceeds from sale and transfer of intangible assets | $ 2,900,000 | |||||||
CADx Medical Systems Inc [Member] | ||||||||
Schedule Of Leases [Line Items] | ||||||||
Tax re-assessment received | $ 6,800,000 | |||||||
Reduced tax re-assessment received | $ 703,000 |
Quarterly Financial Data - Quar
Quarterly Financial Data - Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net sales | $ 9,381 | $ 7,857 | $ 7,329 | $ 6,773 | $ 6,954 | $ 6,192 | $ 6,162 | $ 6,313 | $ 31,340 | $ 25,621 | $ 28,102 |
Gross profit | 7,165 | 6,054 | 5,726 | 5,282 | 5,410 | 4,738 | 4,784 | 4,498 | 24,227 | 19,430 | 18,176 |
Net loss | $ (3,348) | $ (2,956) | $ (3,530) | $ (3,717) | $ (3,344) | $ (1,365) | $ (1,027) | $ (3,281) | $ (13,551) | $ (9,017) | $ (14,256) |
Income (loss) per share | $ (0.17) | $ (0.15) | $ (0.20) | $ (0.22) | $ (0.20) | $ (0.08) | $ (0.06) | $ (0.20) | |||
Weighted average number of shares outstanding | 19,320 | 19,284 | 17,640 | 17,200 | 16,774 | 16,700 | 16,664 | 16,583 |