Spectranetics (SPNC) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	SPECTRANETICS CORP
Entity Central Index Key	789132
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,389,388

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$43,639	$95,505
Trade accounts receivable, less allowance for doubtful accounts and sales returns of $1,652 and $1,615, respectively	38,831	41,090
Inventories, net	27,670	25,446
Deferred income taxes	2,200	2,200
Prepaid expenses and other current assets	9,180	8,093
Total current assets	121,520	172,334
Property and equipment, net	38,260	33,819
Debt issuance costs, net	6,668	6,912
Goodwill	152,904	149,898
Other intangible assets, net	122,896	102,616
Other assets	1,541	1,371
Total assets	443,789	466,950
Current liabilities:
Accounts payable	4,023	4,397
Accrued liabilities	33,554	35,052
Deferred revenue	1,630	1,894
Total current liabilities	39,207	41,343
Convertible senior notes	230,000	230,000
Accrued liabilities, net of current portion	1,488	1,222
Contingent consideration	29,513	28,551
Deferred income taxes	3,773	3,677
Total liabilities	303,981	304,793
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $.001 par value; authorized 5,000,000 shares; none issued	0	0
Common stock, $.001 par value; authorized 120,000,000 shares; issued and outstanding 42,313,115 and 42,060,865 shares, respectively	42	42
Additional paid-in capital	304,394	298,526
Accumulated other comprehensive loss	-2,192	-1,280
Accumulated deficit	-162,436	-135,131
Total stockholders’ equity	139,808	162,157
Total liabilities and stockholders’ equity	$443,789	$466,950

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Trade accounts receivable, less allowance for doubtful accounts and sales returns	$1,652	$1,615
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	42,313,115	42,060,865
Common stock, shares outstanding	42,313,115	42,060,865

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Revenue	$57,422	$39,614
Cost of products sold	14,802	10,334
Amortization of acquired inventory step-up	251	0
Gross profit	42,369	29,280
Operating expenses:
Selling, general and administrative	36,942	27,740
Research, development and other technology	15,261	6,087
Medical device excise tax	806	525
Acquisition transaction and integration costs	10,391	271
Intangible asset amortization	3,170	137
Contingent consideration expense	1,024	38
Total operating expenses	67,594	34,798
Operating loss	-25,225	-5,518
Other income (expense):
Interest (expense) income, net	-1,754	1
Foreign currency transaction (loss) gain	-179	3
Total other (expense) income	-1,933	4
Loss before income taxes	-27,158	-5,514
Income tax expense	147	147
Net loss	-27,305	-5,661
Net loss per share —
Basic and diluted (in dollars per share)	($0.65)	($0.14)
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments	-912	13
Comprehensive loss, net of tax	($28,217)	($5,648)
Weighted average common shares outstanding —
Basic and diluted (shares)	42,155,844	41,353,931

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	($27,305)	($5,661)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	6,131	2,596
Stock-based compensation expense	3,190	1,324
Amortization of debt issuance costs	244	0
Provision for excess and obsolete inventories	167	140
Contingent consideration expense	1,024	38
Deferred income taxes	95	97
Net change in operating assets and liabilities	-6,007	-6,893
Net cash used in operating activities	-22,461	-8,359
Cash flows from investing activities:
Capital expenditures	-1,780	-1,647
Payment for acquisition of Stellarex assets	-30,000	0
Net cash used in investing activities	-31,780	-1,647
Cash flows from financing activities:
Proceeds from the exercise of stock options and employee stock purchase plan	2,678	2,471
Payment of contingent consideration	-143	0
Net cash provided by financing activities	2,535	2,471
Effect of exchange rate changes on cash	-160	6
Net decrease in cash and cash equivalents	-51,866	-7,529
Cash and cash equivalents at beginning of period	95,505	128,395
Cash and cash equivalents at end of period	43,639	120,866
Supplemental disclosures of cash flow information:
Cash paid for interest	9	9
Cash paid for income taxes	$185	$84

General

General	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	GENERAL
	The accompanying condensed consolidated financial statements include the accounts of The Spectranetics Corporation, a Delaware corporation, and its wholly-owned subsidiaries. These entities are collectively referred to as the “Company.” All intercompany balances and transactions have been eliminated in consolidation.
	The Company develops, manufactures, markets, and distributes medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are sold in over 65 countries and are used to cross, prepare, and treat arterial blockages in the legs and heart and to remove pacemaker and defibrillator cardiac leads. In 2014, the Company acquired AngioScore, a leading developer, manufacturer and marketer of cardiovascular, specialty balloon catheters and in January 2015, the Company acquired the Stellarex™ drug-coated balloon assets from Covidien LP.
	The Company’s Vascular Intervention products include a range of laser catheters to ablate blockages in arteries above and below the knee, AngioSculpt® scoring balloon catheters used in both peripheral and coronary procedures, and the Stellarex drug-coated balloon. The Company also markets support catheters to facilitate crossing of peripheral and coronary arterial blockages, and retrograde access and guidewire retrieval devices used in the treatment of peripheral arterial blockages, including chronic total occlusions. The Company markets aspiration and cardiac laser catheters to treat blockages in the heart. The Company’s Lead Management products include excimer laser sheaths, dilator sheaths, mechanical sheaths and cardiac lead management accessories for the removal of pacemaker and defibrillator cardiac leads. The Company also sells, rents, and services its CVX-300® laser systems.
	The Company prepares its condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Management must make certain estimates, judgments, and assumptions based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, intangible assets and goodwill, valuation allowances and reserves for receivables, inventories, and deferred income tax assets, contingent consideration liabilities for acquisitions, stock-based compensation expense, estimated clinical trial expenses, accrued estimates for incurred but not reported claims under partially self-insured employee health benefit programs, and loss contingencies, including those related to litigation. Actual results could differ from those estimates.
	The information included in the accompanying condensed consolidated interim financial statements is unaudited and should be read with the audited financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. In the opinion of management, all adjustments necessary for a fair presentation of the assets, liabilities and results of operations for the interim periods presented have been reflected herein and are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. Certain prior period amounts have been reclassified to conform to the current period presentation.
	Recent Accounting Pronouncements
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of debt issuance costs will continue to be reported as interest expense. ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The new guidance will be applied retrospectively to each prior period presented. Adoption of ASU 2015-03 will change the presentation of debt issuance costs on the Company’s consolidated balance sheets by eliminating the debt issuance costs asset and reducing the liability of the Company’s convertible senior notes by the amount of net debt issuance costs.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which will replace most existing revenue recognition guidance in U.S. GAAP. The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. To achieve this core principle, ASU 2014-09 contains a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when (or as) an entity satisfies a performance obligation. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 will be effective for the Company in the first quarter of the year ending December 31, 2017, and allows for both retrospective and prospective methods of adoption. In April 2015, the FASB proposed a one-year deferral of the effective date of ASU 2014-09. If the one-year deferral is adopted, ASU 2014-09 would become effective for the Company in the first quarter of the year ending December 31, 2018. The Company is in the process of determining the method of adoption and assessing the impact of ASU 2014-09 on its results of operations, financial position, and consolidated financial statements.
	The Company has considered all other recently issued accounting pronouncements and does not believe they are of significance, or potential significance, to the Company.

Business_Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Business Combination	BUSINESS COMBINATIONS
	Stellarex™
	On January 27, 2015 (“Acquisition Date”), the Company acquired certain assets related to the Stellarex over-the-wire percutaneous transluminal angioplasty balloon catheter with a drug (paclitaxel) coated balloon (“DCB Assets”), pursuant to an Asset Purchase Agreement, dated as of October 31, 2014 (“Stellarex Purchase Agreement”) with Covidien LP (“Stellarex Acquisition”). The DCB Assets include, among other things, the intellectual property, machinery and equipment, and inventories used in connection with the Stellarex catheter. The primary reasons for the Stellarex Acquisition were to broaden the Company’s existing product lines, leverage its current customers, and increase revenue.
	Under the terms of the Stellarex Purchase Agreement, the Company paid Covidien $30 million in cash and Covidien retained certain liabilities relating to contingent payments that may become due in connection with regulatory approval and future revenue milestones for the DCB Assets.
	The Company accounted for the Stellarex Acquisition as a business combination and recorded the assets acquired and liabilities assumed at their respective estimated fair values as of the Acquisition Date. The following table summarizes the preliminary allocation of assets acquired (in thousands):
		Allocation of purchase price			Amortization period (in years)
	Inventories	$	1,337
	Property and equipment, net	2,500
	Total tangible assets acquired	3,837
	Less: deferred rent liability assumed	293
	Net tangible assets acquired	$	3,544
	Intangible assets:
	In-process research and development (“IPR&D”)	13,680
	Technology	9,070			12
	Trademark and trade names	400			12
	Transition services agreement	300			0.5
	Goodwill	3,006
	Total purchase price	$	30,000
	The accounting for the acquisition is preliminary due to the ongoing analysis and completion of valuation of the tangible and intangible assets acquired. Upon completion of this analysis, the Company may record adjustments to the estimated amounts recorded as further information about conditions existing at the Acquisition Date becomes available. The final fair value determinations may be different than those reflected in the Company’s condensed consolidated financial statements at March 31, 2015.
	The Company determined the fair value of the inventory based on its estimated selling price less cost to sell and normal profit margin, or in the case of inventory expected to be consumed in clinical studies, on replacement cost, which was determined to approximate fair value.
	The IPR&D asset, which is accounted for as an indefinite-lived intangible asset until completion or abandonment of the project, represents an estimate of the fair value of in-process technology related to the Stellarex products that are currently the subject of clinical studies in advance of their potential introduction to the U.S. market, as well as the below the knee applications of the Stellarex technology, which are also currently in development. The estimated fair value was determined using the income approach.
	The fair value of the technology intangible assets, which relate to products that have already received clearance to be made commercially available in the European market, was determined based upon the present value of expected future cash flows, utilizing a risk-adjusted discount rate.
	The trademark and trade names were valued based on a “relief from royalty” approach. The “relief from royalty” method is based on the premise that a third party would be willing to pay a royalty to use the trade name or trademark asset owned by the subject company.  The projected royalties are converted into their present value equivalents through the application of a risk adjusted discount rate.
	The transition services agreement was valued based on the estimated fair value of services provided to the Company under the agreement. These fair value measurements are based on significant unobservable inputs, which are classified as Level 3 within the fair value hierarchy based on management’s estimates and assumptions.
	The Company recorded the excess of the aggregate purchase price over the estimated fair values of the identifiable assets acquired as goodwill, which is deductible for tax purposes. Goodwill is primarily attributable to the benefits of the acquired workforce and future technologies, which will be developed from the current and IPR&D technologies to further expand the Company’s product offerings and applications of the technology. Goodwill was allocated to the Company’s operating segments based on the relative expected benefits as disclosed in Note 5, “Goodwill and Intangible Assets.”
	The assets and liabilities assumed in the Stellarex Acquisition were included in the Company’s consolidated balance sheet as of March 31, 2015. Incremental revenue, costs of revenue and operating expenses related to the Stellarex DCB Assets have been included in the Company’s consolidated financial statements beginning January 27, 2015, and included in the Company’s U.S. Medical and International Medical reportable operating segments.
	Expenses related to the Stellarex Acquisition and the subsequent integration of its operations were $2.0 million for the three months ended March 31, 2015, and primarily included investment banking fees and integration costs. These costs are included within the “Acquisition transaction and integration costs” line of the consolidated statements of operations and comprehensive loss.
	Revenue from the Stellarex products from January 27 through March 31, 2015 was immaterial and was included in the Company’s consolidated statements of operations and comprehensive loss for the three months ended March 31, 2015. Losses attributable to Stellarex from January 27 through March 31, 2015 were $9.4 million and primarily included research and development and clinical trial costs.
	AngioScore Acquisition
	On June 30, 2014, the Company completed its acquisition of AngioScore. During the three months ended March 31, 2015, the Company recorded $0.3 million of amortization of the acquired inventory step-up, reflected as “Amortization of acquired inventory step-up” in the consolidated statements of operations and comprehensive loss, increasing cost of products sold.
	Expenses related to the acquisition of AngioScore and the subsequent integration of its operations were $8.4 million for the three months ended March 31, 2015, and primarily included legal fees associated with a patent and breach of fiduciary duty matter in which AngioScore is the plaintiff. See Note 10, “Commitments and Contingencies.” These expenses also included severance, retention, and other integration costs. These expenses are included within the “Acquisition transaction and integration costs” line of the consolidated statements of operations and comprehensive loss.
	Revenue from the AngioScore products during the three months ended March 31, 2015 was $14.0 million and was included in the Company’s consolidated statements of operations and comprehensive loss for the three months ended March 31, 2015. The Company is unable to identify earnings attributable to AngioScore for the three months ended March 31, 2015 because the operations of AngioScore have been integrated into the Company’s operations.
	Unaudited Supplemental Pro Forma Financial Information
	The table below provides certain pro forma financial information for the Company as if the Stellarex and AngioScore acquisitions had been consummated as of January 1, 2014. Certain pro forma adjustments have been made to reflect the impact of the purchase transactions, primarily consisting of amortization of intangible assets with determinable lives and interest expense on long-term debt. The Company also included direct acquisition transaction costs incurred in the results of the three months ended March 31, 2014. In addition, certain historical expenses, such as warrant expense and interest expense associated with debt that was immediately repaid, were eliminated from these pro forma results. The pro forma information does not necessarily reflect the actual results of operations had the acquisitions been consummated at the beginning of the fiscal reporting period indicated nor is it indicative of future operating results. The pro forma information does not include any adjustment for potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisitions.
		Three Months Ended March 31,
	(in thousands)	2015				2014
	Revenue	$	57,422			$	53,484
	Net loss	(29,011		)		(29,627		)
	Net loss per share	$	(0.69	)		$	(0.72	)

Convertible_Senior_Notes

Convertible Senior Notes	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Convertible Senior Notes	CONVERTIBLE SENIOR NOTES
	On June 3, 2014, the Company closed the sale of $230 million aggregate principal amount of 2.625% Convertible Senior Notes due 2034 (the “Notes”) pursuant to an underwriting agreement dated May 28, 2014. Interest is paid semi-annually in arrears on December 1 and June 1 of each year, commencing December 1, 2014. The Notes will mature on June 1, 2034, unless earlier converted, redeemed, or repurchased in accordance with the terms of the Notes. The initial conversion rate of the Notes is 31.9020 shares of the Company’s common stock per $1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately $31.35 per share). The conversion rate is subject to adjustment upon the occurrence of certain events specified in the indenture governing the Notes. Holders may surrender their Notes for conversion at any time prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date. On or after June 5, 2018 and prior to June 5, 2021, the Company may redeem any or all of the Notes in cash if the closing price of the Company’s common stock exceeds 130% of the conversion price then in effect for a specified number of days, and on or after June 5, 2021, the Company may redeem the Notes without any such condition.
	Holders of the Notes may require the Company to repurchase all or a portion of their Notes on each of June 5, 2021, June 5, 2024 and June 5, 2029, or following a fundamental change (as defined in the indenture governing the Notes), in each case, at a repurchase price in cash equal to 100% of the principal amount of the Notes being repurchased plus accrued and unpaid interest to, but excluding, the date of repurchase.
	The Notes are subject to customary events of default, which may result in the acceleration of the maturity of the Notes.
	The Notes are the Company’s senior unsecured obligations and rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes, rank equally in right of payment with any of the Company’s unsecured indebtedness that is not so subordinated, are effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all indebtedness and other liabilities of the Company’s subsidiaries.
	The Company received $222.5 million from the issuance of the Notes, net of $7.5 million of debt issuance costs incurred. The debt issuance costs are being amortized over a seven year period using the effective interest method. The Company used all of the net proceeds to fund the acquisition of AngioScore.

Composition_of_Certain_Financi

Composition of Certain Financial Statement Items	3 Months Ended
	Mar. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Composition of Certain Financial Statement Items	COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS
	Inventories
	Inventories, net, consisted of the following (in thousands):
		March 31,			December 31,
		2015			2014
	Raw materials	$	9,692		$	9,012
	Work in process	3,796			3,745
	Finished goods	14,182			12,689
		$	27,670		$	25,446
	On January 27, 2015, the Company acquired approximately $1.3 million of inventories as part of the Stellarex acquisition. See Note 2, “Business Combination,” for further discussion.
	Property and Equipment
	Property and equipment, net, consisted of the following (in thousands):
		March 31, 2015			December 31, 2014
	Equipment held for rental or loan	$	49,300		$	47,313
	Manufacturing equipment and computers	33,539			29,692
	Leasehold improvements	6,916			6,730
	Furniture and fixtures	3,570			3,473
	Building and improvements	1,288			1,288
	Land	270			270
	Less: accumulated depreciation and amortization	(56,623		)	(54,947		)
		$	38,260		$	33,819
	On January 27, 2015, the Company acquired approximately $2.5 million of property and equipment, net, as part of the Stellarex acquisition. See Note 2, “Business Combination,” for further discussion.
	Accrued Liabilities
	Accrued liabilities consisted of the following (in thousands):
		March 31, 2015			December 31, 2014
	Accrued payroll and employee-related expenses	$	13,272		$	21,483
	Accrued legal costs	6,630			4,793
	Accrued clinical study expense	4,301			1,358
	Accrued interest on convertible notes	2,013			503
	Deferred rent	1,488			1,214
	Accrued sales, income, and excise taxes	1,166			1,847
	Accrued royalties	707			841
	Contingent consideration, current portion	62			143
	Other accrued expenses	5,403			4,092
	Less: long-term portion	(1,488		)	(1,222		)
	Accrued liabilities: current portion	$	33,554		$	35,052

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS
	The change in the carrying amount of goodwill by reporting unit for the three months ended March 31, 2015 was as follows (in thousands). The goodwill was allocated to the reporting units based on a percentage of estimated future revenues.
		U.S. Medical			International Medical			Total
	Balance as of December 31, 2014	$	128,361		$	21,537		$	149,898
	Additional goodwill related to Stellarex Acquisition (Note 2)	2,255			751			3,006
	Balance as of March 31, 2015	$	130,616		$	22,288		$	152,904
	Acquired intangible assets consisted of the following (in thousands):
		March 31, 2015				December 31, 2014
	Acquired as part of AngioScore acquisition:
	Technology	$	73,510			$	73,510
	Customer relationships	23,320				23,320
	Trademark and trade names	4,380				4,380
	IPR&D	3,750				3,750
	Distributor relationships	1,940				1,940
	Non-compete agreements	580				580
	Acquired as part of Stellarex Acquisition (Note 2):
	IPR&D	13,680				—
	Technology	9,070				—
	Trademark and trade names	400				—
	Transition services agreement	300				—
	Acquired as part of Upstream acquisition (1)
	Technology	2,172				2,172
	Non-compete agreement	200				200
	Patents	530				530
	Less: accumulated amortization	(10,936		)		(7,766		)
		$	122,896			$	102,616
	___________________
	-1	In January 2013, the Company acquired certain product lines from Upstream Peripheral Technologies, Ltd. (“Upstream”). As part of the acquisition, the Company acquired core technology intangible assets and an intangible asset related to non-compete agreements.
	See further discussion of the additional goodwill and intangible assets acquired as part of the Stellarex acquisition during the three months ended March 31, 2015 in Note 2, “Business Combinations.”
	The Company evaluates goodwill and other intangible assets for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. There have been no events or circumstances since the last analysis as of December 31, 2014 to indicate that the amount of goodwill or other intangible assets may not be recoverable.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION
	The Company maintains equity plans that provide for the grant of incentive stock options, nonqualified stock options, restricted stock awards, restricted stock units, performance stock units (“PSUs”) and stock appreciation rights. The plans provide that stock options may be granted with exercise prices not less than the fair value at the date of grant. Options granted through March 31, 2015 generally vest over four years and expire ten years from the date of grant. Restricted stock awards granted to non-employee members of the Board of Directors vest over one year. Restricted stock units granted to certain officers of the Company vest over four years.
	In June 2014, the Compensation Committee of the Board of Directors approved a grant of PSUs to certain of the Company’s officers. PSUs vest based on achieving specified performance measurements over a three-year “cliff” performance period plus an additional year “cliff” time vesting. Earned PSUs vest 75% upon completion of the three-year performance period and 25% one year after the performance period. The PSUs have target payout opportunities of between 0% and 250%. The performance measurements include a compounded annual growth rate for revenue over a three year period and Adjusted EBITDA for the year ended December 31, 2016.
	At March 31, 2015, there were 3.0 million shares available for future issuance under the Company’s equity plans, assuming issuance of PSUs at target performance, and 2.3 million shares available for future issuance, assuming issuance of PSUs at the 250% maximum performance.
	Valuation and Expense Information
	The Company recognized stock-based compensation expense of $3.2 million and $1.3 million for the three months ended March 31, 2015 and 2014, respectively.  This expense consisted of compensation expense related to (1) employee stock options based on the value of share-based payment awards, (2) restricted stock awards issued to the Company’s directors, (3) restricted stock units and PSUs issued to certain of the Company’s officers, and (4) the fair value of shares issued under the Company’s employee stock purchase plan. Stock-based compensation expense is recognized based on awards ultimately expected to vest and is reduced for estimated forfeitures. The Company recognizes compensation expense for these awards on a straight-line basis over the service period.
	With respect to the PSUs, the number of shares that vest and are issued to the recipient is based upon the Company’s performance as measured against the specified targets over a three-year period as determined by the Compensation Committee of the Board of Directors. Although there is no guarantee that performance targets will be achieved, the Company estimates the fair value of the PSUs based on its closing stock price at the time of grant and its estimates of achieving such performance targets, and records compensation expense on a graded vesting attribution method, which recognizes compensation cost on a straight-line basis over each separately vesting portion of the award. Over the performance period, the number of shares of common stock that will ultimately vest and be issued and the related compensation expense is adjusted based upon the Company’s estimate of achieving such performance targets. The number of shares delivered to recipients and the related compensation cost recognized as an expense will be based on the actual performance metrics as set forth in the applicable PSU award agreement.
	The fair value of each share option award is estimated on the date of grant using the Black-Scholes pricing model based on assumptions noted in the following table. The Company’s employee stock options have various restrictions including vesting provisions and restrictions on transfers and hedging, among others, and are often exercised prior to their contractual expiration. Expected volatilities used in the fair value estimate are based on the historical volatility of the Company’s common stock. The Company uses historical data to estimate share option exercises, expected term and employee departure behavior used in the Black-Scholes pricing model. The risk-free rate for periods within the contractual term of the share option is based on the U.S. Treasury yield in effect at the time of grant.
	The following is a summary of the assumptions used for the stock options granted during the three months ended March 31, 2015 and 2014, respectively, using the Black-Scholes pricing model:
		Three Months Ended
		March 31,
		2015		2014
	Expected life (years)	5.72		5.77
	Risk-free interest rate	1.38	%	1.73	%
	Expected volatility	42.56	%	63.8	%
	Expected dividend yield	—		—
	The weighted average grant date fair value of options granted during the three months ended March 31, 2015 and 2014 was $13.88 and $15.05, respectively.
	The following table summarizes stock option activity during the three months ended March 31, 2015:
		Shares		Weighted		Weighted Avg.	Aggregate Intrinsic
				Average		Remaining	Value
				Exercise Price		Contractual Term
						(In Years)
	Options outstanding at January 1, 2015	2,698,911		$	11.88
	Granted	22,210		33.6
	Exercised	(177,090	)	6.5
	Canceled	(14,287	)	19.47
	Options outstanding at March 31, 2015	2,529,744		$	12.4	6.73	$	56,553,791
	Options exercisable at March 31, 2015	1,562,224		$	9.01	5.78	$	40,222,611
	The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $34.76 as of March 31, 2015, which would have been received by the option holders if all option holders exercised their options as of that date. In-the-money options exercisable as of March 31, 2015 totaled approximately 1.6 million, as all options exercisable were in the money as of that date.  The total intrinsic value of options exercised was $4.9 million and $6.5 million during the three months ended March 31, 2015 and 2014, respectively.
	The following table summarizes restricted stock award activity during the three months ended March 31, 2015:
		Shares		Weighted Average Grant Date Fair Value
	Restricted stock awards outstanding at January 1, 2015	26,802		$	22.39
	Awarded	2,867		34.89
	Restricted stock awards outstanding at March 1, 2015	29,669		$	23.6
	No restricted stock units were awarded or vested during the three months ended March 31, 2015. The balance of unvested restricted stock units was 182,016 as of March 31, 2015, with a weighted average grant date fair value of $19.35.
	No PSUs were awarded or vested during the three months ended March 31, 2015. The balance of unvested PSUs was 487,158 as of March 31, 2015, with a weighted average grant date fair value of $23.43.
	As of March 31, 2015, there was $19.6 million of total unrecognized compensation expense related to non-vested share-based compensation arrangements granted under the Company’s equity plans, assuming the Company’s current estimate of performance for the PSUs. Assuming the minimum of 0% and maximum of 250% payout opportunities for the PSUs, the range of total unrecognized compensation expense related to non-vested share-based compensation arrangements granted under the Company’s equity plans was between $9.5 million and $34.4 million as of March 31, 2015. This expense is based on an assumed future forfeiture rate of approximately 11.25% per year for Company employees and is expected to be recognized over a weighted-average period of approximately 2.4 years.
	Employee Stock Purchase Plan
	In June 2010, the Company’s stockholders approved The Spectranetics Corporation 2010 Employee Stock Purchase Plan (“ESPP”).  The ESPP, as amended in 2012, provides for the sale of up to 700,000 shares of common stock to eligible employees, limited to the lesser of 2,500 shares per employee per six-month period or a fair market value of $25,000 per employee per calendar year. Stock purchased under the ESPP is restricted from sale for one year following the date of purchase. Stock can be purchased from amounts accumulated through payroll deductions during each six-month period. The purchase price is equal to 85% of the lower of the fair market value of the Company’s common stock at the beginning or end of the respective six-month offering period.  This discount does not exceed the maximum discount rate permitted for plans of this type under Section 423 of the Internal Revenue Code of 1986, as amended.  The ESPP is compensatory for financial reporting purposes. At March 31, 2015, there were approximately 134,000 shares available for future issuance under this plan.
	The fair value of the offerings under the ESPP is determined on the first day of the semi-annual purchase period using the Black-Scholes option-pricing model. The expected term of six months was based upon the offering period of the ESPP. Expected volatility was determined based on the historical volatility from daily share price observations for the Company’s stock covering a period commensurate with the expected term of the ESPP. The risk-free interest rate was based on the six-month U.S. Treasury daily yield rate. The expected dividend yield was based on the Company’s historical practice of electing not to pay dividends to its stockholders. For the three months ended March 31, 2015 and 2014, the Company recognized $240,000 and $122,000, respectively, of compensation expense related to the ESPP.

Net_Loss_Per_Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Share	NET LOSS PER SHARE
	Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding (excluding shares of restricted stock). Shares issued during the period and shares reacquired during the period are weighted for the portion of the period they were outstanding. Diluted net loss per share is computed in a manner consistent with that of basic net loss per share, while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and the assumed vesting of restricted stock using the treasury stock method, and the assumed conversion of shares under the Notes using the “if-converted” method.
	Options to purchase common stock, the vesting of restricted stock and PSUs, and shares issuable upon conversion of the Notes are considered to be potentially dilutive common shares but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive for the three months ended March 31, 2015 and 2014 as a result of the net losses incurred in those periods. Therefore, diluted net loss per share was the same as basic net loss per share for the three months ended March 31, 2015 and 2014. Stock options, restricted stock, PSUs, and shares issuable upon the conversion of the Notes outstanding at March 31, 2015 and 2014, which are excluded from the computation of diluted net loss per share for the three months ended March 31, 2015 and 2014, are shown in the table below:
		Three Months Ended
		March 31,
		2015		2014
	Options to purchase common stock	2,529,744		2,903,759
	Non-vested restricted stock	211,685		180,812
	Non-vested PSUs	487,158		—
	Shares issuable upon conversion of the Notes	7,337,459		—
	Potentially dilutive common shares	10,566,046		3,084,571
	A summary of the net loss per share calculation is shown below for the periods indicated (in thousands, except share and per share amounts):
		Three Months Ended
		March 31,
		2015			2014
	Net loss	$	(27,305	)	$	(5,661	)
	Common shares outstanding:
	Historical common shares outstanding at beginning of period	42,034,063			41,208,096
	Weighted average common shares issued	121,781			145,835
	Weighted average common shares outstanding — basic	42,155,844			41,353,931
	Effect of dilution — stock options	—			—
	Weighted average common shares outstanding — diluted	42,155,844			41,353,931
	Net loss per share — basic and diluted	$	(0.65	)	$	(0.14	)

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING
	The Company operates in one distinct line of business consisting of developing, manufacturing, marketing, and distributing disposable products and a proprietary excimer laser system to treat certain vascular and coronary conditions.
	Within this line of business, the Company has two operating segments, which were identified on
	a geographic basis: (1) U.S. Medical and (2) International Medical. U.S. Medical and International Medical offer the same products and services but operate in different geographic regions, have different distribution networks, and different regulatory environments. Within U.S. Medical, the Company aggregates its two product lines, Vascular Intervention and Lead Management, based on their similar economic, operational, and regulatory characteristics. The primary performance measure for the operating segments is revenue.
	Additional information regarding each operating segment is discussed below.
	U. S. Medical
	Products offered by this segment include medical devices used in minimally invasive procedures within the cardiovascular system, including fiber-optic devices and non-fiber-optic products (disposables), an excimer laser system (equipment), and the service of the excimer laser system (service). The Company is subject to product approvals from the U.S. Food and Drug Administration (“FDA”) and Health Canada. The Company’s products are used in multiple vascular procedures, including peripheral atherectomy, crossing arterial blockages, coronary atherectomy and thrombectomy, and the removal of cardiac lead wires from patients with pacemakers and cardiac defibrillators. This segment’s customers are primarily located in the United States and Canada.
	U.S. Medical also includes the corporate headquarters of the Company. All manufacturing, research and development, and corporate administrative functions are performed within this operating segment. For the three months ended March 31, 2015 and 2014, a portion of research, development and other technology expenses, and general and administrative expenses incurred in the U.S. has been allocated to International Medical based on a percentage of revenue because these expenses support the Company’s ability to generate revenue within the International Medical segment.
	Manufacturing activities are performed entirely within the U.S. Medical segment. Revenue associated with intersegment product transfers to International Medical was $2.9 million and $1.7 million for the three months ended March 31, 2015 and 2014, respectively. Revenue is based upon transfer prices, which provide for intersegment profit eliminated upon consolidation.
	International Medical
	The International Medical segment has its headquarters in the Netherlands, and serves Europe, the Middle East, Asia Pacific, Latin America, and Puerto Rico. Products offered by this segment are substantially the same as those offered by U.S. Medical. The Company is subject to product approvals from various international regulatory bodies. The International Medical segment is engaged primarily in distribution activities, with no manufacturing or product development functions. Certain U.S.-incurred research, development and other technology expenses, and general and administrative expenses have been allocated to International Medical based on a percentage of revenue because these expenses support the Company’s ability to generate revenue within the International Medical segment.
	Summary financial information relating to operating segment operations is shown below. Intersegment transfers as well as intercompany assets and liabilities are excluded from the information provided (in thousands):
		Three Months Ended
		March 31,
		2015			2014
	Revenue:
	U.S. Medical:
	Disposable products	$	45,487		$	28,582
	Service and other, net of allowance for sales returns	2,516			2,236
	Equipment sales and rentals	597			954
	Subtotal	48,600			31,772
	International Medical:
	Disposable products	7,457			5,909
	Service and other, net of allowance for sales returns	477			533
	Equipment sales and rentals	888			1,400
	Subtotal	8,822			7,842
	Total revenue	$	57,422		$	39,614
		Three Months Ended
		March 31,
		2015			2014
	Segment operating loss:
	U.S. Medical	$	(24,926	)	$	(5,382	)
	International Medical	(299		)	(136		)
	Total operating loss	$	(25,225	)	$	(5,518	)
		As of March 31, 2015			As of December 31, 2014
	Segment assets:
	U.S. Medical	$	407,517		$	432,151
	International Medical	36,272			34,799
	Total assets	$	443,789		$	466,950
	For the three months ended March 31, 2015 and 2014, no individual customer represented 10% or more of consolidated revenue.  No individual countries, other than the United States, represented at least 10% of consolidated revenue for the three months ended March 31, 2015 or 2014.
	Revenue by Product Line
		Three Months Ended
		March 31,
	(in thousands)	2015			2014
	Revenue
	Disposable products revenue:
	Vascular intervention	$	36,513		$	20,021
	Lead management	16,431			14,470
	Total disposable products revenue	52,944			34,491
	Service and other, net of allowance for sales returns	2,993			2,769
	Equipment sales and rentals	1,485			2,354
	Total revenue	$	57,422		$	39,614

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES
	The Company maintains a valuation allowance against substantially all of its deferred tax assets, in excess of its nettable deferred tax liabilities, that it does not consider to meet the more-likely-than-not criteria for recognition.  Given its continuing tax losses, the Company does not expect to incur current U.S. federal tax expense or benefit against its pretax income during the year ending December 31, 2015. The Company does, however, expect to incur current state and foreign tax expense during 2015. In addition, the Company expects to incur deferred U.S. federal and state tax expense in 2015, primarily representing an increase in the deferred tax liability related to the difference between tax and book accounting for the portion of its goodwill that is tax-deductible, which is amortized over 15 years for tax purposes but not amortized for book purposes.
	In assessing the realizability of deferred tax assets, management considers whether it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. The Company’s ability to realize the benefit of its deferred tax assets in future periods will depend on the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the Company’s projected future taxable income and tax planning strategies in making this assessment, and believes there have not been sufficient consecutive quarters of taxable income to conclude that it is more-likely-than-not that future operations will generate sufficient taxable income to realize deferred tax assets. The Company will continue to assess the need for a valuation allowance in future periods and does not expect to reduce the valuation allowance against its deferred tax assets until it has a sufficient historical trend of taxable income and can predict future income with a higher degree of certainty. In the event there is a change in circumstances in the future that would affect the utilization of the Company’s deferred tax assets, the tax provision in that period would be adjusted by the amount of the assets then deemed to be realizable.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES
	Litigation
	The Company is from time to time subject to, and is presently involved in, various pending or threatened legal actions and proceedings, including those that arise in the ordinary course of its business. Such matters are subject to many uncertainties and to outcomes the financial impacts of which are not predictable with assurance and that may not be known for extended periods of time. The Company records a liability in its consolidated financial statements for costs related to claims, settlements, and judgments where management has assessed that a loss is probable and an amount can be reasonably estimated. The Company’s significant legal proceedings are discussed below. The costs associated with such proceedings or other legal proceedings that may be commenced could have a material adverse effect on the Company’s future consolidated results of operations, financial position, or cash flows.
	Trireme Patent Infringement and Breach of Fiduciary Duty
	In July 2012, AngioScore sued Trireme Medical, Inc. (“Trireme”), Eitan Konstantino (“Konstantino”), Quattro Vascular Pte, Ltd., and QT Vascular Ltd., in the U.S. District Court for the Northern District of California, alleging patent infringement (the “Northern District of California Action”). In this action, AngioScore seeks injunctive relief and damages. The defendants filed counterclaims against AngioScore for unfair competition, interference with business relationships, false advertising, and defamation, and in August 2014, those counterclaims were dismissed. In May 2014, AngioScore moved to amend its complaint (i) to allege that Trireme’s Chief Executive Officer, Konstantino, who is a former founder, officer, and member of the board of directors of AngioScore, breached his fiduciary duties to AngioScore by developing the Chocolate balloon catheter while he served as a member of the AngioScore board of directors, and (ii) to add claims against the other defendants for aiding and abetting that breach. On January 14, 2015, the parties filed their respective summary judgment motions and other motions. Trial on the breach of fiduciary duty case began on April 13, 2015 and was completed on April 21, 2015. The court has asked for post-trial briefing by May 31, 2015 and the Company anticipates a ruling thereafter. On April 29, 2015, the court entered an order scheduling trial on the patent infringement claims for September 14, 2015.
	Trireme Inventorship
	On June 25, 2014, Trireme sued AngioScore in the U.S. District Court for the Northern District of California seeking to change the inventorship of certain patents owned by AngioScore. Trireme alleges that an Israeli physician, Chaim Lotan, should be named as a co-inventor on three patents owned by AngioScore. Dr. Lotan allegedly assigned any rights he may have had in the three patents to Trireme. AngioScore moved to dismiss this litigation on January 29, 2015, asserting that Dr. Lotan previously assigned any rights he may have had in the patents to AngioScore in 2003. On March 17, 2015, the court granted AngioScore’s motion to dismiss. AngioScore has moved for reimbursement of costs and fees incurred in this action.
	Konstantino Indemnification and Advancement of Fees
	On May 15, 2014, AngioScore sued Konstantino in the Superior Court for the County of Alameda, State of California, seeking a declaratory judgment that AngioScore owes no indemnification obligations to Konstantino under his indemnification agreement with AngioScore (the “AngioScore Indemnification Agreement”) resulting from AngioScore’s claim that Konstantino breached his fiduciary duties to AngioScore while serving as a member of the board of directors of AngioScore (the “Alameda Action”).  In November 2014, the court stayed the Alameda Action pending the outcome of the Northern District of California Action.
	On May 21, 2014, Konstantino sued AngioScore in the Delaware Court of Chancery (the “Delaware Action”) seeking a ruling that, under the AngioScore Indemnification Agreement, AngioScore must indemnify and advance Konstantino’s attorneys’ fees and costs related to (1) the defense of the breach of fiduciary duty claims asserted against him in the Northern District of California Action; (2) the defense of the Alameda Action; and (3) Konstantino’s pursuit of the Delaware Action for advancement of fees.  On June 4, 2014, AngioScore filed counter-claims against Konstantino for violating the AngioScore Indemnification Agreement, which requires, in part, that he cooperate in identifying other sources of advancement, and AngioScore filed a third-party complaint against Trireme, Quattro Vascular, and QT Vascular seeking contribution from the defendant companies for amounts advanced to Konstantino.  Konstantino filed a motion for summary judgment that he is entitled to advancement from AngioScore and, on August 15, 2014, the court granted the motion.  On September 4, 2014, AngioScore filed amended counter claims and an amended third-party complaint that included additional defendant Trireme Singapore.  The defendant companies filed a motion to dismiss the amended third-party complaint on the grounds that it fails to state a claim and the court does not have jurisdiction over three of the defendant companies that were incorporated in Singapore.  The motion to dismiss is being briefed and oral argument has been rescheduled for June 8, 2015.
	The Company cannot at this time determine the likelihood of any outcome and as of March 31, 2015, has no amounts accrued for potential damages, but does have approximately $6.3 million accrued for legal fees incurred in these matters, including amounts accrued for the advancement of attorneys’ fees and costs incurred for Konstantino. During the three months ended March 31, 2015, the Company incurred $8.0 million of legal fees associated with these matters, including amounts advanced for Mr. Konstantino’s attorneys’ fees and costs. These expenses are included within the “Acquisition transaction and integration costs” line of the consolidated statements of operations and comprehensive loss.
	Other
	The Company is involved in other legal proceedings in the normal course of business and does not expect them to have a material adverse effect on its business.
	Corporate Integrity Agreement
	On April 13, 2015, the Company’s monitor under the Corporate Integrity Agreement (“CIA”) with the Office of the Inspector General notified the Company that the CIA has been successfully completed.

Business_Combinations_Tables

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of assets acquired (in thousands):
		Allocation of purchase price			Amortization period (in years)
	Inventories	$	1,337
	Property and equipment, net	2,500
	Total tangible assets acquired	3,837
	Less: deferred rent liability assumed	293
	Net tangible assets acquired	$	3,544
	Intangible assets:
	In-process research and development (“IPR&D”)	13,680
	Technology	9,070			12
	Trademark and trade names	400			12
	Transition services agreement	300			0.5
	Goodwill	3,006
	Total purchase price	$	30,000
Business Acquisition, Pro Forma Information	The pro forma information does not include any adjustment for potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisitions.
		Three Months Ended March 31,
	(in thousands)	2015				2014
	Revenue	$	57,422			$	53,484
	Net loss	(29,011		)		(29,627		)
	Net loss per share	$	(0.69	)		$	(0.72	)

Composition_of_Certain_Financi1

Composition of Certain Financial Statement Items (Tables)	3 Months Ended
	Mar. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Inventories	Inventories, net, consisted of the following (in thousands):
		March 31,			December 31,
		2015			2014
	Raw materials	$	9,692		$	9,012
	Work in process	3,796			3,745
	Finished goods	14,182			12,689
		$	27,670		$	25,446
Property and Equipment	Property and equipment, net, consisted of the following (in thousands):
		March 31, 2015			December 31, 2014
	Equipment held for rental or loan	$	49,300		$	47,313
	Manufacturing equipment and computers	33,539			29,692
	Leasehold improvements	6,916			6,730
	Furniture and fixtures	3,570			3,473
	Building and improvements	1,288			1,288
	Land	270			270
	Less: accumulated depreciation and amortization	(56,623		)	(54,947		)
		$	38,260		$	33,819
Accrued Liabilities	Accrued liabilities consisted of the following (in thousands):
		March 31, 2015			December 31, 2014
	Accrued payroll and employee-related expenses	$	13,272		$	21,483
	Accrued legal costs	6,630			4,793
	Accrued clinical study expense	4,301			1,358
	Accrued interest on convertible notes	2,013			503
	Deferred rent	1,488			1,214
	Accrued sales, income, and excise taxes	1,166			1,847
	Accrued royalties	707			841
	Contingent consideration, current portion	62			143
	Other accrued expenses	5,403			4,092
	Less: long-term portion	(1,488		)	(1,222		)
	Accrued liabilities: current portion	$	33,554		$	35,052

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill by reporting unit for the three months ended March 31, 2015 was as follows (in thousands). The goodwill was allocated to the reporting units based on a percentage of estimated future revenues.
		U.S. Medical			International Medical			Total
	Balance as of December 31, 2014	$	128,361		$	21,537		$	149,898
	Additional goodwill related to Stellarex Acquisition (Note 2)	2,255			751			3,006
	Balance as of March 31, 2015	$	130,616		$	22,288		$	152,904
Schedule of Acquired Intangible Assets	Acquired intangible assets consisted of the following (in thousands):
		March 31, 2015				December 31, 2014
	Acquired as part of AngioScore acquisition:
	Technology	$	73,510			$	73,510
	Customer relationships	23,320				23,320
	Trademark and trade names	4,380				4,380
	IPR&D	3,750				3,750
	Distributor relationships	1,940				1,940
	Non-compete agreements	580				580
	Acquired as part of Stellarex Acquisition (Note 2):
	IPR&D	13,680				—
	Technology	9,070				—
	Trademark and trade names	400				—
	Transition services agreement	300				—
	Acquired as part of Upstream acquisition (1)
	Technology	2,172				2,172
	Non-compete agreement	200				200
	Patents	530				530
	Less: accumulated amortization	(10,936		)		(7,766		)
		$	122,896			$	102,616
	___________________
	-1	In January 2013, the Company acquired certain product lines from Upstream Peripheral Technologies, Ltd. (“Upstream”). As part of the acquisition, the Company acquired core technology intangible assets and an intangible asset related to non-compete agreements.

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following is a summary of the assumptions used for the stock options granted during the three months ended March 31, 2015 and 2014, respectively, using the Black-Scholes pricing model:
		Three Months Ended
		March 31,
		2015		2014
	Expected life (years)	5.72		5.77
	Risk-free interest rate	1.38	%	1.73	%
	Expected volatility	42.56	%	63.8	%
	Expected dividend yield	—		—
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes stock option activity during the three months ended March 31, 2015:
		Shares		Weighted		Weighted Avg.	Aggregate Intrinsic
				Average		Remaining	Value
				Exercise Price		Contractual Term
						(In Years)
	Options outstanding at January 1, 2015	2,698,911		$	11.88
	Granted	22,210		33.6
	Exercised	(177,090	)	6.5
	Canceled	(14,287	)	19.47
	Options outstanding at March 31, 2015	2,529,744		$	12.4	6.73	$	56,553,791
	Options exercisable at March 31, 2015	1,562,224		$	9.01	5.78	$	40,222,611
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes restricted stock award activity during the three months ended March 31, 2015:
		Shares		Weighted Average Grant Date Fair Value
	Restricted stock awards outstanding at January 1, 2015	26,802		$	22.39
	Awarded	2,867		34.89
	Restricted stock awards outstanding at March 1, 2015	29,669		$	23.6

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Stock options, restricted stock, PSUs, and shares issuable upon the conversion of the Notes outstanding at March 31, 2015 and 2014, which are excluded from the computation of diluted net loss per share for the three months ended March 31, 2015 and 2014, are shown in the table below:
		Three Months Ended
		March 31,
		2015		2014
	Options to purchase common stock	2,529,744		2,903,759
	Non-vested restricted stock	211,685		180,812
	Non-vested PSUs	487,158		—
	Shares issuable upon conversion of the Notes	7,337,459		—
	Potentially dilutive common shares	10,566,046		3,084,571
Schedule of Earnings Per Share, Basic and Diluted	A summary of the net loss per share calculation is shown below for the periods indicated (in thousands, except share and per share amounts):
		Three Months Ended
		March 31,
		2015			2014
	Net loss	$	(27,305	)	$	(5,661	)
	Common shares outstanding:
	Historical common shares outstanding at beginning of period	42,034,063			41,208,096
	Weighted average common shares issued	121,781			145,835
	Weighted average common shares outstanding — basic	42,155,844			41,353,931
	Effect of dilution — stock options	—			—
	Weighted average common shares outstanding — diluted	42,155,844			41,353,931
	Net loss per share — basic and diluted	$	(0.65	)	$	(0.14	)

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Revenue by Reporting Segments	Summary financial information relating to operating segment operations is shown below. Intersegment transfers as well as intercompany assets and liabilities are excluded from the information provided (in thousands):
		Three Months Ended
		March 31,
		2015			2014
	Revenue:
	U.S. Medical:
	Disposable products	$	45,487		$	28,582
	Service and other, net of allowance for sales returns	2,516			2,236
	Equipment sales and rentals	597			954
	Subtotal	48,600			31,772
	International Medical:
	Disposable products	7,457			5,909
	Service and other, net of allowance for sales returns	477			533
	Equipment sales and rentals	888			1,400
	Subtotal	8,822			7,842
	Total revenue	$	57,422		$	39,614
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
		Three Months Ended
		March 31,
		2015			2014
	Segment operating loss:
	U.S. Medical	$	(24,926	)	$	(5,382	)
	International Medical	(299		)	(136		)
	Total operating loss	$	(25,225	)	$	(5,518	)
Reconciliation of Assets from Segment to Consolidated
		As of March 31, 2015			As of December 31, 2014
	Segment assets:
	U.S. Medical	$	407,517		$	432,151
	International Medical	36,272			34,799
	Total assets	$	443,789		$	466,950
Revenue from External Customers by Products and Services	Revenue by Product Line
		Three Months Ended
		March 31,
	(in thousands)	2015			2014
	Revenue
	Disposable products revenue:
	Vascular intervention	$	36,513		$	20,021
	Lead management	16,431			14,470
	Total disposable products revenue	52,944			34,491
	Service and other, net of allowance for sales returns	2,993			2,769
	Equipment sales and rentals	1,485			2,354
	Total revenue	$	57,422		$	39,614

Business_Combinations_Narrativ

Business Combinations (Narrative) (Details) (USD $)	3 Months Ended		0 Months Ended	2 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 27, 2015	Mar. 31, 2015
Business Acquisition [Line Items]
Amortization of acquired inventory step-up	$251,000	$0
Acquisition transaction and integration costs	10,391,000	271,000
Revenue	57,422,000	39,614,000
Stellarex
Business Acquisition [Line Items]
Cash payments to acquire business			30,000,000
Losses attributable to Stellarex since acquisition				9,400,000
Acquisition transaction and integration costs	2,000,000
AngioScore
Business Acquisition [Line Items]
Amortization of acquired inventory step-up	300,000
Acquisition transaction and integration costs	8,400,000
Revenue	$14,000,000

Business_Combinations_Schedule

Business Combinations (Schedule of Assets Acquired and Liabilities Assumed) (Details) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Jan. 27, 2015	Mar. 31, 2015	Jan. 27, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill		$152,904		$149,898
Stellarex
Business Acquisition [Line Items]
Inventories	1,337		1,337
Property and equipment, net	2,500		2,500
Total tangible assets acquired	3,837		3,837
Less: liabilities assumed	293		293
Net tangible assets less liabilities	3,544		3,544
Goodwill	3,006		3,006
Total purchase price	30,000		30,000
Stellarex | IPR&D
Business Acquisition [Line Items]
In-process research and development (“IPR&D”)	13,680	13,680	13,680	0
Stellarex | Technology
Business Acquisition [Line Items]
Acquired intangible assets	9,070	9,070	9,070	0
Amortization period (in years)	12 years
Stellarex | Trademark and trade names
Business Acquisition [Line Items]
Acquired intangible assets	400	400	400	0
Amortization period (in years)	12 years
Stellarex | Transition services agreement
Business Acquisition [Line Items]
Acquired intangible assets	$300	$300	$300	$0
Amortization period (in years)	6 months

Business_Combinations_Pro_Form

Business Combinations (Pro Forma Information) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Business Combinations [Abstract]
Revenue	$57,422	$53,484
Net loss	($29,011)	($29,627)
Net loss per share (in dollars per share)	($0.69)	($0.72)

Convertible_Senior_Notes_Detai

Convertible Senior Notes (Details) (USD $)	0 Months Ended	3 Months Ended
	Jun. 03, 2014	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Convertible senior notes		$230,000,000	$230,000,000
Convertible Debt
Debt Instrument [Line Items]
Convertible senior notes	230,000,000
Stated interest rate	2.63%
Conversion ratio		31.902
Conversion price		$31.35
Threshold percentage of stock price trigger		130.00%
Percent of principal amount redeemed		100.00%
Proceeds from debt, net of issuance costs	222,500,000
Debt issuance costs	$7,500,000
Discount amortization period		7 years

Composition_of_Certain_Financi2

Composition of Certain Financial Statement Items (Inventories) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Balance Sheet Related Disclosures [Abstract]
Raw materials	$9,692	$9,012
Work in process	3,796	3,745
Finished goods	14,182	12,689
Inventory, net	$27,670	$25,446

Composition_of_Certain_Financi3

Composition of Certain Financial Statement Items (Property and Equipment) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	($56,623)	($54,947)
Property and equipment, net	38,260	33,819
Equipment held for rental or loan
Property, Plant and Equipment [Line Items]
Property and equipment, gross	49,300	47,313
Manufacturing equipment and computers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33,539	29,692
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,916	6,730
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,570	3,473
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,288	1,288
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$270	$270

Composition_of_Certain_Financi4

Composition of Certain Financial Statement Items (Accrued Liabilities) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Accrued Liabilities, Current [Abstract]
Accrued payroll and employee-related expenses	$13,272	$21,483
Accrued legal costs	6,630	4,793
Accrued clinical study expense	4,301	1,358
Accrued interest on convertible notes	2,013	503
Deferred rent	1,488	1,214
Accrued sales, income, and excise taxes	1,166	1,847
Accrued royalties	707	841
Contingent consideration, current portion	62	143
Other accrued expenses	5,403	4,092
Less: long-term portion	-1,488	-1,222
Accrued liabilities: current portion	$33,554	$35,052

Composition_of_Certain_Financi5

Composition of Certain Financial Statement Items (Narrative) (Details) (Stellarex, USD $)	Jan. 27, 2015
In Thousands, unless otherwise specified
Stellarex
Business Acquisition [Line Items]
Inventories	$1,337
Property and equipment, net	$2,500

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Goodwill) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Goodwill [Roll Forward]
Beginning balance	$149,898
Additional goodwill related to Stellarex Acquisition (Note 2)	3,006
Ending balance	152,904
U.S. Medical
Goodwill [Roll Forward]
Beginning balance	128,361
Additional goodwill related to Stellarex Acquisition (Note 2)	2,255
Ending balance	130,616
International Medical
Goodwill [Roll Forward]
Beginning balance	21,537
Additional goodwill related to Stellarex Acquisition (Note 2)	751
Ending balance	$22,288

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Intangible Assets) (Details) (USD $)	Mar. 31, 2015	Jan. 27, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]
Less: accumulated amortization	($10,936)		($7,766)
Other intangible assets, net	122,896		102,616
Patents
Finite-Lived Intangible Assets [Line Items]
Patents	530		530
AngioScore | Technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	73,510		73,510
AngioScore | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	23,320		23,320
AngioScore | Trademark and trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	4,380		4,380
AngioScore | IPR&D
Finite-Lived Intangible Assets [Line Items]
In-process research and development (“IPR&D”)	3,750		3,750
AngioScore | Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	1,940		1,940
AngioScore | Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	580		580
Stellarex | Technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	9,070	9,070	0
Stellarex | Trademark and trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	400	400	0
Stellarex | IPR&D
Finite-Lived Intangible Assets [Line Items]
In-process research and development (“IPR&D”)	13,680	13,680	0
Stellarex | Transition services agreement
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	300	300	0
Upstream | Technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	2,172		2,172
Upstream | Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	$200		$200

StockBased_Compensation_Narrat

Stock-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$3,200,000	$1,300,000
Share price	$34.76
Unrecognized compensation expense	19,600,000
Estimated forfeiture rate	11.25%
Weighted-average recognition period	2 years 4 months 10 days
Employee stock purchase plan purchase period	6 months
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	134,000
Allocated share-based compensation expense	240,000	122,000
Number of shares authorized	700,000
Maximum number of shares per employee	2,500
Maximum fair value per employee	25,000
Stock purchase holding period	1 year
Purchase price of common stock, percent	85.00%
Expected term	6 months
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	9,500,000
Minimum | Common Stock | Spectranetics Corporation 2006 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	2,300,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	34,400,000
Maximum | Common Stock | Spectranetics Corporation 2006 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance	3,000,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Award expiration period	10 years
Weighted average grant date fair value of options	$13.88	$15.05
In-the-money options exercisable amount	1,600,000
Total intrinsic value of options exercised	$4,900,000	$6,500,000
Expected term	5 years 8 months 19 days	5 years 9 months 7 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares outstanding	29,669		26,802
Nonvested shares, weighted average grant date fair value	$23.60		$22.39
Restricted Stock | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares outstanding	182,016
Nonvested shares, weighted average grant date fair value	$19.35
Restricted Stock Units (RSUs) | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares outstanding	487,158
Nonvested shares, weighted average grant date fair value	$23.43
Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target Payout Opportunities, Percent	0.00%
Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target Payout Opportunities, Percent	250.00%
Performance Stock Units | Vesting after three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award vesting percent	75.00%
Performance Stock Units | Vesting in fourth year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Award vesting percent	25.00%

StockBased_Compensation_Summar

Stock-Based Compensation (Summary of Assumptions Used) (Details) (Stock Options)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	5 years 8 months 19 days	5 years 9 months 7 days
Risk-free interest rate	1.38%	1.73%
Expected volatility	42.56%	63.80%
Expected dividend yield	0.00%	0.00%

StockBased_Compensation_Stock_

Stock-Based Compensation (Stock Option Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Shares
Beginning balance (shares)	2,698,911
Granted (shares)	22,210
Exercised (shares)	-177,090
Canceled (shares)	-14,287
Ending balance (shares)	2,529,744
Options exercisable (shares)	1,562,224
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$11.88
Granted, weighted average exercise price (in dollars per share)	$33.60
Exercised, weighted average exercise price (in dollars per share)	$6.50
Canceled, weighted average exercise price (in dollars per share)	$19.47
Ending balance (in dollars per share)	$12.40
Options exercisable, weighted average exercise price (in dollars per share)	$9.01
Options outstanding, weighted average remaining contractual term (in years)	6 years 8 months 23 days
Options exercisable, weighted average remaining contractual term (in years)	5 years 9 months 11 days
Options outstanding, aggregate intrinsic value	$56,553,791
Options exercisable, aggregate intrinsic value	$40,222,611
Restricted Stock
Shares
Beginning balance (shares)	26,802
Awarded (shares)	2,867
Ending balance (shares)	29,669
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$22.39
Awarded (in dollars per share)	$34.89
Ending balance (in dollars per share)	$23.60

Net_Loss_Per_Share_Antidilutiv

Net Loss Per Share (Antidilutive Securities) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	10,566,046	3,084,571
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	2,529,744	2,903,759
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	211,685	180,812
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	487,158	0
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	7,337,459	0

Net_Loss_Per_Share_EPS_Calcula

Net Loss Per Share (EPS Calculation) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net loss	($27,305)	($5,661)
Common shares outstanding:
Historical common shares outstanding at beginning of period	42,034,063	41,208,096
Weighted average common shares issued	121,781	145,835
Weighted average common shares outstanding — basic	42,155,844	41,353,931
Effect of dilution — stock options	0	0
Weighted average common shares outstanding — diluted	42,155,844	41,353,931
Net loss per share — basic and diluted	($0.65)	($0.14)

Segment_Reporting_Narrative_De

Segment Reporting (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	customer	customer
Segment Reporting Information [Line Items]
Number of lines of business	1
Number of reportable segments	2
Number of product lines	2
Sales Revenue | Customer Concentration Risk
Segment Reporting Information [Line Items]
Number of major customers	0	0
Sales Revenue | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Number of major customers	0	0
U.S. Medical
Segment Reporting Information [Line Items]
Intersegment revenue	2.9	1.7

Segment_Reporting_Revenue_by_P

Segment Reporting (Revenue by Product Line) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue from External Customer [Line Items]
Revenue	$57,422	$39,614
Disposable products
Revenue from External Customer [Line Items]
Revenue	52,944	34,491
Disposable products | Vascular intervention
Revenue from External Customer [Line Items]
Revenue	36,513	20,021
Disposable products | Lead management
Revenue from External Customer [Line Items]
Revenue	16,431	14,470
Service and other, net of allowance for sales returns
Revenue from External Customer [Line Items]
Revenue	2,993	2,769
Equipment sales and rentals
Revenue from External Customer [Line Items]
Revenue	1,485	2,354
U.S. Medical
Revenue from External Customer [Line Items]
Revenue	48,600	31,772
U.S. Medical | Disposable products
Revenue from External Customer [Line Items]
Revenue	45,487	28,582
U.S. Medical | Service and other, net of allowance for sales returns
Revenue from External Customer [Line Items]
Revenue	2,516	2,236
U.S. Medical | Equipment sales and rentals
Revenue from External Customer [Line Items]
Revenue	597	954
International Medical
Revenue from External Customer [Line Items]
Revenue	8,822	7,842
International Medical | Disposable products
Revenue from External Customer [Line Items]
Revenue	7,457	5,909
International Medical | Service and other, net of allowance for sales returns
Revenue from External Customer [Line Items]
Revenue	477	533
International Medical | Equipment sales and rentals
Revenue from External Customer [Line Items]
Revenue	$888	$1,400

Segment_Reporting_Segment_Repo

Segment Reporting (Segment Reporting) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segments, Geographical Areas [Abstract]
Operating loss	($25,225)	($5,518)
Assets	443,789		466,950
U.S. Medical
Segments, Geographical Areas [Abstract]
Operating loss	-24,926	-5,382
Assets	407,517		432,151
International Medical
Segments, Geographical Areas [Abstract]
Operating loss	-299	-136
Assets	$36,272		$34,799

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jun. 25, 2014	Dec. 31, 2014
			patent
Loss Contingencies [Line Items]
Accrued legal costs	$6,630			$4,793
Acquisition transaction and integration costs	10,391	271
US District Court of Northern California | Pending Litigation
Loss Contingencies [Line Items]
Number of patents involved in litigation			3
Trireme Litigation | Pending Litigation
Loss Contingencies [Line Items]
Accrued legal costs	6,300
Acquisition transaction and integration costs	$8,000