Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 15, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | CLEARONE INC | |
Entity Central Index Key | 0000840715 | |
Trading Symbol | clro | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 16,630,597 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 4,326 | $ 11,211 |
Marketable securities | 2,888 | 951 |
Receivables, net of allowance for doubtful accounts of $649 and $631, respectively | 6,435 | 6,782 |
Inventories, net | 12,331 | 13,228 |
Prepaid expenses and other assets | 1,882 | 2,193 |
Total current assets | 27,862 | 34,365 |
Long-term marketable securities | 6,235 | 3,764 |
Long-term inventories, net | 8,481 | 8,953 |
Property and equipment, net | 1,280 | 1,388 |
Operating lease - right of use assets, net | 2,818 | |
Intangibles, net | 11,102 | 10,249 |
Other assets | 158 | 196 |
Total assets | 57,936 | 58,915 |
Current liabilities: | ||
Accounts payable | 2,326 | 3,729 |
Accrued liabilities | 2,396 | 1,996 |
Deferred product revenue | 259 | 283 |
Total current liabilities | 4,981 | 6,008 |
Deferred rent | 135 | |
Operating lease liability, net of current portion | 2,406 | |
Other long-term liabilities | 570 | 571 |
Total liabilities | 7,957 | 6,714 |
Shareholders' equity: | ||
Common stock, par value $0.001, 50,000,000 shares authorized, 16,630,597 and 16,630,597 shares issued and outstanding | 17 | 17 |
Additional paid-in capital | 57,923 | 57,840 |
Accumulated other comprehensive loss | (137) | (181) |
Accumulated deficit | (7,824) | (5,475) |
Total shareholders' equity | 49,979 | 52,201 |
Total liabilities and shareholders' equity | $ 57,936 | $ 58,915 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Allowance for doubtful accounts | $ 649 | $ 631 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 16,630,597 | 16,630,597 |
Common stock, shares outstanding (in shares) | 16,630,597 | 16,630,597 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue | $ 6,305 | $ 7,289 |
Cost of goods sold | 3,601 | 3,190 |
Gross profit | 2,704 | 4,099 |
Operating expenses: | ||
Sales and marketing | 1,953 | 2,868 |
Research and product development | 1,587 | 2,056 |
General and administrative | 1,555 | 1,617 |
Total operating expenses | 5,095 | 6,541 |
Operating loss | (2,391) | (2,442) |
Other income, net | 42 | 24 |
Loss before income taxes | (2,349) | (2,418) |
Provision for (benefit from) income taxes | (572) | |
Net loss | $ (2,349) | $ (1,846) |
Basic weighted average shares outstanding (in shares) | 16,630,597 | 8,307,125 |
Diluted weighted average shares outstanding (in shares) | 16,630,597 | 8,307,125 |
Basic loss per share (in dollars per share) | $ (0.14) | $ (0.22) |
Diluted loss per share (in dollars per share) | $ (0.14) | $ (0.22) |
Comprehensive loss: | ||
Net loss | $ (2,349) | $ (1,846) |
Unrealized gain (loss) on available-for-sale securities, net of tax | 70 | (70) |
Change in foreign currency translation adjustment | (27) | 22 |
Comprehensive loss | $ (2,306) | $ (1,894) |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (2,349) | $ (1,846) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization expense | 509 | 380 |
Amortization of right-of-use assets | 148 | |
Share-based compensation expense | 74 | 137 |
Provision for (recoveries of) doubtful accounts, net | 18 | 18 |
Change of inventory to net realizable value | 185 | 255 |
Deferred income taxes | (696) | |
Changes in operating assets and liabilities: | ||
Receivables | 320 | 1,545 |
Inventories | 1,184 | (319) |
Prepaid expenses and other assets | (25) | (108) |
Accounts payable | (1,403) | 172 |
Accrued liabilities | (156) | 110 |
Income taxes payable | 373 | 3 |
Deferred product revenue | (25) | (22) |
Operating lease liabilities | (147) | |
Other long-term liabilities | 72 | |
Net cash used in operating activities | (1,294) | (299) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (37) | (62) |
Purchase of intangibles | 4 | (62) |
Capitalized patent defense costs | (1,221) | (1,283) |
Proceeds from maturities and sales of marketable securities | 427 | 3,304 |
Purchases of marketable securities | (4,764) | (884) |
Net cash provided by (used in) investing activities | (5,591) | 1,013 |
Cash flows from financing activities: | ||
Net proceeds from equity-based compensation programs | 9 | 11 |
Dividend payments | (583) | |
Repurchase and cancellation of stock | (147) | |
Net cash used in financing activities | 9 | (719) |
Effect of exchange rate changes on cash and cash equivalents | (9) | 11 |
Net increase (decrease) in cash and cash equivalents | (6,885) | 6 |
Cash and cash equivalents at the beginning of the period | 11,211 | 5,571 |
Cash and cash equivalents at the end of the period | 4,326 | 5,577 |
Cash paid for income taxes | $ 1 |
Note 1 - Business Description,
Note 1 - Business Description, Basis of Presentation and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Business Description: ClearOne, Inc., together with its subsidiaries (collectively, “ClearOne” or the “Company”), is a global market leader enabling conferencing, collaboration, and AV streaming solutions for voice and visual communications. The performance and simplicity of our advanced, comprehensive solutions offer unprecedented levels of functionality, reliability and scalability. Basis of Presentation: The fiscal year for ClearOne is the twelve December 31. These accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and are not March 31, 2019 December 31, 2018, three March 31, 2019 2018, three March 31, 2019 2018. three March 31, 2019 2018 not 10 December 31, 2018 Significant Accounting Policies: The significant accounting policies were described in Note 1 10 December 31, 2018. no three March 31, 2019 Recent accounting standard related to Leases: February 2016, 2016 02, 2016 02” 12 2016 02 December 15, 2018, July 2018, No. 2018 11 2016 02 January 1, 2019, first 2019, not $2,966 $3,101 $135 not Accounting Policy related to Leases : 842 March 31, 2019 December 31, 2018, not ROU assets represent our right to use an underlying asset for the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of our leases do not may Under the available practical expedient, we account for the lease and non-lease components as a single lease component. Other recent accounting pronouncements : no not |
Note 2 - Revenue Information
Note 2 - Revenue Information | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. The following table disaggregates the Company’s revenue into primary product groups: Three months ended March 31, 2019 Three months ended March 31, 2018 Audio Conferencing $ 2,711 $ 3,659 Microphones 2,106 2,310 Video products 1,488 1,320 $ 6,305 $ 7,289 Three months ended March 31, 2019 Three months ended March 31, 2018 North and South America $ 3,760 $ 4,345 Asia (including Middle East) and Australia 1,864 2,038 Europe and Africa 681 906 $ 6,305 $ 7,289 |
Note 3 - Earnings (Loss) Per Sh
Note 3 - Earnings (Loss) Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Earnings (loss) per common share is computed based on the weighted-average number of common shares outstanding and, when appropriate, dilutive potential common stock outstanding during the period. Stock options are considered to be potential common stock. The computation of diluted earnings (loss) per share does not Basic earnings (loss) per common share is the amount of net earnings (loss) for the period available to each weighted-average share of common stock outstanding during the reporting period. Diluted earnings (loss) per common share is the amount of earnings (loss) for the period available to each weighted-average share of common stock outstanding during the reporting period and to each share of potential common stock outstanding during the period, unless inclusion of potential common stock would have an anti-dilutive effect. The following table sets forth the computation of basic and diluted earnings (loss) per common share: Three months ended March 31, 2019 2018 Numerator: Net loss $ (2,349 ) $ (1,846 ) Denominator: Basic weighted average shares outstanding 16,630,597 8,307,125 Dilutive common stock equivalents using treasury stock method — — Diluted weighted average shares outstanding 16,630,597 8,307,125 Basic loss per common share $ (0.14 ) $ (0.22 ) Diluted loss per common share $ (0.14 ) $ (0.22 ) Weighted average options outstanding 587,184 748,078 Anti-dilutive options not included in the computations 587,184 748,078 |
Note 4 - Marketable Securities
Note 4 - Marketable Securities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. The Company has classified its marketable securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive income (loss) in stockholders’ equity until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of securities at March 31, 2019 December 31, 2018 Amortized cost Gross unrealized holding gains Gross unrealized holding losses Estimated fair value March 31, 2019 Available-for-sale securities: Corporate bonds and notes $ 5,465 $ 37 $ (12 ) $ 5,490 Municipal bonds 3,634 6 (7 ) 3,633 Total available-for-sale securities $ 9,099 $ 43 $ (19 ) $ 9,123 December 31, 2018 Available-for-sale securities: Corporate bonds and notes $ 2,911 $ 1 $ (31 ) $ 2,881 Municipal bonds 1,849 — (15 ) 1,834 Total available-for-sale securities $ 4,760 $ 1 $ (46 ) $ 4,715 Maturities of marketable securities classified as available-for-sale securities were as follows at March 31, 2019: Amortized cost Estimated fair value Due within one year $ 2,888 $ 2,888 Due after one year through five years 6,059 6,080 Due after five years 152 155 Total available-for-sale securities $ 9,099 $ 9,123 Debt securities in an unrealized loss position as of March 31, 2019 not not not no 12 12 Less than 12 months More than 12 months Total Estimated fair value Gross unrealized holding losses Estimated fair value Gross unrealized holding losses Estimated fair value Gross unrealized holding losses As of March 31, 201 9 Corporate bonds and notes $ 104 $ (1 ) $ 5,386 $ (11 ) $ 5,490 $ (12 ) Municipal bonds — — 3,633 (7 ) 3,633 (7 ) Total $ 104 $ (1 ) $ 9,019 $ (18 ) $ 9,123 $ (19 ) |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Business Combinations, Goodwill and Intangibles Disclosure [Text Block] | 5. Intangible assets as of March 31, 2019 December 31, 2018 Estimated useful lives (years) March 31, 201 9 December 31, 201 8 Tradename 5 to 7 $ 555 $ 555 Patents and technological know-how 10 14,548 13,377 Proprietary software 3 to 15 2,981 2,981 Other 3 to 5 323 323 Total intangible assets 18,407 17,236 Accumulated amortization (7,305 ) (6,987 ) Total intangible assets, net $ 11,102 $ 10,249 The amortization of intangible assets for the three March 31, 2019 2018 Three months ended March 31, 201 9 201 8 Amortization of intangible assets $ 364 $ 248 The estimated future amortization expense of intangible assets is as follows: Years ending December 31, Amount 2019 (Remainder) $ 940 2020 1,126 2021 1,126 2022 1,126 2023 1,033 Thereafter 5,751 Total 11,102 |
Note 6 - Inventories
Note 6 - Inventories | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 6. Inventories, net of reserves, as of March 31, 2019 December 31, 2018 March 31, 201 9 December 31, 201 8 Current: Raw materials $ 499 $ 1,795 Finished goods 11,832 11,433 $ 12,331 $ 13,228 Long-term: Raw materials $ 1,947 $ 2,165 Finished goods 6,534 6,788 $ 8,481 $ 8,953 Long-term inventory represents inventory held in excess of our current (next 12 no no Net loss incurred on valuation of inventory at lower of cost or market value and write-off of obsolete inventory during the three March 31, 2019 2018 $185 $255, |
Note 7 - Leases and Deferred Re
Note 7 - Leases and Deferred Rent | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 7. Rent expense is recognized on a straight-line basis over the period of the lease taking into account future rent escalation and holiday periods. Rent expense was $171 $246, three March 31, 2019 2018, We occupy a 5,000 February 2021 10 We currently occupy a 21,443 March 2024, five We occupy a 10,700 September 2019, We occupy a 7,070 October 2019. We occupy a 3,068 March 2020. We occupy a 6,175 August 2021. We occupy a 40,000 April 2025, Supplemental cash flow information related to leases was as follows: Three months ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 176 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — Supplemental balance sheet information related to leases was as follows: March 31, 2019 Operating lease right-of-use assets $ 2,818 Current portion of operating lease liabilities, included in accrued liabilities $ 548 Operating lease liabilities, net of current portion 2,406 Total operating lease liabilities 2,954 Weighted average remaining lease term for operating leases 5.3 years Weighted average discount rate for operating leases 6.1% The following represents maturities of operating lease liabilities as of March 31, 2019: Years ending December 31, Remainder of 2019 $ 533 2020 700 2021 646 2022 595 2023 606 Thereafter 375 Total lease payments 3,455 Less: Imputed interest (501 ) Total $ 2,954 |
Note 8 - Shareholders' Equity
Note 8 - Shareholders' Equity | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. Three months ended March 31, 2019 Three months ended March 31, 2018 Common stock Balance, beginning of period $ 17 $ 8 Balance, end of period 17 8 Additional paid-in capital Balance, beginning of period $ 57,840 $ 47,464 Share-based compensation expense 74 137 Proceeds from employee stock purchase plan 9 11 Balance, end of period 57,923 47,612 Accumulated other comprehensive loss Balance, beginning of period $ (181 ) $ (65 ) Unrealized gain (loss) on available-for-sale securities, net of tax 70 (70 ) Foreign currency translation adjustment (26 ) 22 Balance, end of period (137 ) (113 ) Retained earnings (accumulated deficit) Balance, beginning of period $ (5,475 ) $ 9,160 Stock repurchased - (147 ) Cash dividends, $0.07 per share - (583 ) Impact on retained earnings for change in revenue recognition policy - 2,783 Net loss (2,349 ) (1,846 ) Balance, end of period $ (7,824 ) $ 9,367 Total shareholders' equity $ 49,979 $ 56,874 |
Note 9 - Share-based Compensati
Note 9 - Share-based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 9. Employee Stock Option Plans The Company’s share-based incentive plans offering stock options are offered under the Company’s 2007 “2007 December 12, 2015. 2007 2,000,000 may may March 31, 2019, 570,523 2007 March 31, 2019, 2007 924,571 A summary of the stock option activity under the Company’s plans for the three March 31, 2019 Number of shares Weighted average exercise price Options outstanding at beginning of year 624,256 $ 8.87 Granted — — Less: Exercised — — Forfeited prior to vesting — — Canceled or expired (53,733 ) 9.49 Options outstanding at March 31, 201 9 570,523 8.81 Options exercisable at end of March 31, 201 9 514,438 $ 8.63 As of March 31, 2019, $191, 1.02 Share-based compensation expense has been recorded as follows: Three months ended March 31, 201 9 201 8 Cost of goods sold $ 2 $ 5 Sales and marketing 1 10 Research and product development 12 30 General and administrative 59 92 $ 74 $ 137 |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 10. The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three Level 1 Level 2 not not Level 3 The substantial majority of the Company’s financial instruments are valued using observable inputs. The following table sets forth the fair value of the financial instruments re-measured by the Company as of March 31, 2019 December 31, 2018: Level 1 Level 2 Level 3 Total March 31, 2019 Corporate bonds and notes $ — $ 5,490 $ — $ 5,490 Municipal bonds — 3,633 — 3,633 Total $ — $ 9,123 $ — $ 9,123 December 31, 2018 Corporate bonds and notes $ — $ 2,881 $ — $ 2,881 Municipal bonds — 1,834 — 1,834 Total $ — $ 4,715 $ — $ 4,715 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. The current year loss did not not not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation: The fiscal year for ClearOne is the twelve December 31. These accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and are not March 31, 2019 December 31, 2018, three March 31, 2019 2018, three March 31, 2019 2018. three March 31, 2019 2018 not 10 December 31, 2018 |
New Accounting Pronouncements, Policy [Policy Text Block] | Significant Accounting Policies: The significant accounting policies were described in Note 1 10 December 31, 2018. no three March 31, 2019 Recent accounting standard related to Leases: February 2016, 2016 02, 2016 02” 12 2016 02 December 15, 2018, July 2018, No. 2018 11 2016 02 January 1, 2019, first 2019, not $2,966 $3,101 $135 not Accounting Policy related to Leases : 842 March 31, 2019 December 31, 2018, not ROU assets represent our right to use an underlying asset for the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of our leases do not may Under the available practical expedient, we account for the lease and non-lease components as a single lease component. Other recent accounting pronouncements : no not |
Note 2 - Revenue Information (T
Note 2 - Revenue Information (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended March 31, 2019 Three months ended March 31, 2018 Audio Conferencing $ 2,711 $ 3,659 Microphones 2,106 2,310 Video products 1,488 1,320 $ 6,305 $ 7,289 Three months ended March 31, 2019 Three months ended March 31, 2018 North and South America $ 3,760 $ 4,345 Asia (including Middle East) and Australia 1,864 2,038 Europe and Africa 681 906 $ 6,305 $ 7,289 |
Note 3 - Earnings (Loss) Per _2
Note 3 - Earnings (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2019 2018 Numerator: Net loss $ (2,349 ) $ (1,846 ) Denominator: Basic weighted average shares outstanding 16,630,597 8,307,125 Dilutive common stock equivalents using treasury stock method — — Diluted weighted average shares outstanding 16,630,597 8,307,125 Basic loss per common share $ (0.14 ) $ (0.22 ) Diluted loss per common share $ (0.14 ) $ (0.22 ) Weighted average options outstanding 587,184 748,078 Anti-dilutive options not included in the computations 587,184 748,078 |
Note 4 - Marketable Securities
Note 4 - Marketable Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Amortized cost Gross unrealized holding gains Gross unrealized holding losses Estimated fair value March 31, 2019 Available-for-sale securities: Corporate bonds and notes $ 5,465 $ 37 $ (12 ) $ 5,490 Municipal bonds 3,634 6 (7 ) 3,633 Total available-for-sale securities $ 9,099 $ 43 $ (19 ) $ 9,123 December 31, 2018 Available-for-sale securities: Corporate bonds and notes $ 2,911 $ 1 $ (31 ) $ 2,881 Municipal bonds 1,849 — (15 ) 1,834 Total available-for-sale securities $ 4,760 $ 1 $ (46 ) $ 4,715 |
Available-for-sale Securities, Debt Maturities [Table Text Block] | Amortized cost Estimated fair value Due within one year $ 2,888 $ 2,888 Due after one year through five years 6,059 6,080 Due after five years 152 155 Total available-for-sale securities $ 9,099 $ 9,123 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 months More than 12 months Total Estimated fair value Gross unrealized holding losses Estimated fair value Gross unrealized holding losses Estimated fair value Gross unrealized holding losses As of March 31, 201 9 Corporate bonds and notes $ 104 $ (1 ) $ 5,386 $ (11 ) $ 5,490 $ (12 ) Municipal bonds — — 3,633 (7 ) 3,633 (7 ) Total $ 104 $ (1 ) $ 9,019 $ (18 ) $ 9,123 $ (19 ) |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Estimated useful lives (years) March 31, 201 9 December 31, 201 8 Tradename 5 to 7 $ 555 $ 555 Patents and technological know-how 10 14,548 13,377 Proprietary software 3 to 15 2,981 2,981 Other 3 to 5 323 323 Total intangible assets 18,407 17,236 Accumulated amortization (7,305 ) (6,987 ) Total intangible assets, net $ 11,102 $ 10,249 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Three months ended March 31, 201 9 201 8 Amortization of intangible assets $ 364 $ 248 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years ending December 31, Amount 2019 (Remainder) $ 940 2020 1,126 2021 1,126 2022 1,126 2023 1,033 Thereafter 5,751 Total 11,102 |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Inventory Current and Noncurrent [Table Text Block] | March 31, 201 9 December 31, 201 8 Current: Raw materials $ 499 $ 1,795 Finished goods 11,832 11,433 $ 12,331 $ 13,228 Long-term: Raw materials $ 1,947 $ 2,165 Finished goods 6,534 6,788 $ 8,481 $ 8,953 |
Note 7 - Leases and Deferred _2
Note 7 - Leases and Deferred Rent (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three months ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 176 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — March 31, 2019 Operating lease right-of-use assets $ 2,818 Current portion of operating lease liabilities, included in accrued liabilities $ 548 Operating lease liabilities, net of current portion 2,406 Total operating lease liabilities 2,954 Weighted average remaining lease term for operating leases 5.3 years Weighted average discount rate for operating leases 6.1% |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Years ending December 31, Remainder of 2019 $ 533 2020 700 2021 646 2022 595 2023 606 Thereafter 375 Total lease payments 3,455 Less: Imputed interest (501 ) Total $ 2,954 |
Note 8 - Shareholders' Equity (
Note 8 - Shareholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Three months ended March 31, 2019 Three months ended March 31, 2018 Common stock Balance, beginning of period $ 17 $ 8 Balance, end of period 17 8 Additional paid-in capital Balance, beginning of period $ 57,840 $ 47,464 Share-based compensation expense 74 137 Proceeds from employee stock purchase plan 9 11 Balance, end of period 57,923 47,612 Accumulated other comprehensive loss Balance, beginning of period $ (181 ) $ (65 ) Unrealized gain (loss) on available-for-sale securities, net of tax 70 (70 ) Foreign currency translation adjustment (26 ) 22 Balance, end of period (137 ) (113 ) Retained earnings (accumulated deficit) Balance, beginning of period $ (5,475 ) $ 9,160 Stock repurchased - (147 ) Cash dividends, $0.07 per share - (583 ) Impact on retained earnings for change in revenue recognition policy - 2,783 Net loss (2,349 ) (1,846 ) Balance, end of period $ (7,824 ) $ 9,367 Total shareholders' equity $ 49,979 $ 56,874 |
Note 9 - Share-based Compensa_2
Note 9 - Share-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of shares Weighted average exercise price Options outstanding at beginning of year 624,256 $ 8.87 Granted — — Less: Exercised — — Forfeited prior to vesting — — Canceled or expired (53,733 ) 9.49 Options outstanding at March 31, 201 9 570,523 8.81 Options exercisable at end of March 31, 201 9 514,438 $ 8.63 |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three months ended March 31, 201 9 201 8 Cost of goods sold $ 2 $ 5 Sales and marketing 1 10 Research and product development 12 30 General and administrative 59 92 $ 74 $ 137 |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total March 31, 2019 Corporate bonds and notes $ — $ 5,490 $ — $ 5,490 Municipal bonds — 3,633 — 3,633 Total $ — $ 9,123 $ — $ 9,123 December 31, 2018 Corporate bonds and notes $ — $ 2,881 $ — $ 2,881 Municipal bonds — 1,834 — 1,834 Total $ — $ 4,715 $ — $ 4,715 |
Note 1 - Business Description_2
Note 1 - Business Description, Basis of Presentation and Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 2,818 | $ 2,966 | |
Operating Lease, Liability, Total | $ 2,954 | 3,101 | |
Deferred Rent Credit | $ 135,000 |
Note 2 - Revenue Information -
Note 2 - Revenue Information - Revenue by Product Group (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue | $ 6,305 | $ 7,289 |
Americas [Member] | ||
Revenue | 3,760 | 4,345 |
Asia Middle East and Australia [Member] | ||
Revenue | 1,864 | 2,038 |
Europe and Africa [Member] | ||
Revenue | 681 | 906 |
Audio Conferencing [Member] | ||
Revenue | 2,711 | 3,659 |
Microphones [Member] | ||
Revenue | 2,106 | 2,310 |
Video Products [Member] | ||
Revenue | $ 1,488 | $ 1,320 |
Note 3 - Earnings (Loss) Per _3
Note 3 - Earnings (Loss) Per Share - Computation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net loss | $ (2,349) | $ (1,846) |
Basic weighted average shares outstanding (in shares) | 16,630,597 | 8,307,125 |
Dilutive common stock equivalents using treasury stock method (in shares) | ||
Diluted weighted average shares outstanding (in shares) | 16,630,597 | 8,307,125 |
Basic loss per common share (in dollars per share) | $ (0.14) | $ (0.22) |
Diluted loss per common share (in dollars per share) | $ (0.14) | $ (0.22) |
Weighted average options outstanding (in shares) | 587,184 | 748,078 |
Anti-dilutive options not included in the computations (in shares) | 587,184 | 748,078 |
Note 4 - Marketable Securitie_2
Note 4 - Marketable Securities - Available-for-sale Securities by Major Security Type (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Amortized cost | $ 9,099 | $ 4,760 |
Gross unrealized holding gains | 43 | 1 |
Gross unrealized holding losses | (19) | (46) |
Available-for-sale securities | 9,123 | 4,715 |
Corporate Debt Securities [Member] | ||
Amortized cost | 5,465 | 2,911 |
Gross unrealized holding gains | 37 | 1 |
Gross unrealized holding losses | (12) | (31) |
Available-for-sale securities | 5,490 | 2,881 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 3,634 | 1,849 |
Gross unrealized holding gains | 6 | |
Gross unrealized holding losses | (7) | (15) |
Available-for-sale securities | $ 3,633 | $ 1,834 |
Note 4 - Marketable Securitie_3
Note 4 - Marketable Securities - Maturities of Available-for-sale Securities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Due within one year, amortized cost | $ 2,888 |
Due within one year, estimated fair value | 2,888 |
Due after one year through five years, amortized cost | 6,059 |
Due after one year through five years, estimated fair value | 6,080 |
Due after five years, amortized cost | 152 |
Due after five years, estimated fair value | 155 |
Total available-for-sale securities, amortized cost | 9,099 |
Total available-for-sale securities, estimated fair value | $ 9,123 |
Note 4 - Marketable Securitie_4
Note 4 - Marketable Securities - Available-for-sale Marketable Securities in Gross Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Estimated fair value, less than 12 months | $ 104 |
Gross unrealized holding losses, less than 12 months | (1) |
Estimated fair value, more than 12 months | 9,019 |
Gross unrealized holding losses, more than 12 months | (18) |
Estimated fair value | 9,123 |
Gross unrealized holding losses | (19) |
Corporate Debt Securities [Member] | |
Estimated fair value, less than 12 months | 104 |
Gross unrealized holding losses, less than 12 months | (1) |
Estimated fair value, more than 12 months | 5,386 |
Gross unrealized holding losses, more than 12 months | (11) |
Estimated fair value | 5,490 |
Gross unrealized holding losses | (12) |
US States and Political Subdivisions Debt Securities [Member] | |
Estimated fair value, less than 12 months | |
Gross unrealized holding losses, less than 12 months | |
Estimated fair value, more than 12 months | 3,633 |
Gross unrealized holding losses, more than 12 months | (7) |
Estimated fair value | 3,633 |
Gross unrealized holding losses | $ (7) |
Note 5 - Intangible Assets - In
Note 5 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Estimated useful lives (Year) | ||
Intangible assets, gross | $ 18,407 | $ 17,236 |
Accumulated amortization | (7,305) | (6,987) |
Total intangible assets, net | $ 11,102 | 10,249 |
Minimum [Member] | ||
Estimated useful lives (Year) | ||
Maximum [Member] | ||
Estimated useful lives (Year) | ||
Trade Names [Member] | ||
Intangible assets, gross | $ 555 | 555 |
Trade Names [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Trade Names [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 7 years | |
Patents and Technological Know-how [Member] | ||
Estimated useful lives (Year) | 10 years | |
Intangible assets, gross | $ 14,548 | 13,377 |
Proprietary Software [Member] | ||
Intangible assets, gross | $ 2,981 | 2,981 |
Proprietary Software [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 3 years | |
Proprietary Software [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 15 years | |
Other Intangible Assets [Member] | ||
Intangible assets, gross | $ 323 | $ 323 |
Other Intangible Assets [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 3 years | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 5 years |
Note 5 - Intangible Assets - Sc
Note 5 - Intangible Assets - Schedule of Amortization of Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Amortization of intangible assets | $ 364 | $ 248 |
Note 5 - Intangible Assets - Es
Note 5 - Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
2019 (Remainder) | $ 940 | |
2020 | 1,126 | |
2021 | 1,126 | |
2022 | 1,126 | |
2023 | 1,033 | |
Thereafter | 5,751 | |
Total intangible assets, net | $ 11,102 | $ 10,249 |
Note 6 - Inventories (Details T
Note 6 - Inventories (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Inventory Write-down | $ 185 | $ 255 |
Note 6 - Inventories - Inventor
Note 6 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Raw materials | $ 499 | $ 1,795 |
Finished goods | 11,832 | 11,433 |
Total current inventory | 12,331 | 13,228 |
Raw materials | 1,947 | 2,165 |
Finished goods | 6,534 | 6,788 |
Total long-term inventory | $ 8,481 | $ 8,953 |
Note 7 - Leases and Deferred _3
Note 7 - Leases and Deferred Rent (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)ft² | Mar. 31, 2018USD ($) | |
Operating Lease, Expense | $ | $ 171 | $ 246 |
Facility in Gainesville [Member] | ||
Area of Real Estate Property | 5,000 | |
Lessee, Operating Lease, Renewal Term | 10 years | |
Facility in Salt Lake City [Member] | ||
Area of Real Estate Property | 21,443 | |
Lessee, Operating Lease, Renewal Term | 5 years | |
Warehouse in Shenzhen, China [Member] | ||
Area of Real Estate Property | 10,700 | |
Facility in Austin, Texas [Member[ | ||
Area of Real Estate Property | 7,070 | |
Facility in Zaragoza, Spain [Member] | ||
Area of Real Estate Property | 3,068 | |
Facility in Chennai, India [Member] | ||
Area of Real Estate Property | 6,175 | |
Warehouse in Salt Lake City, Utah [Member] | ||
Area of Real Estate Property | 40,000 |
Note 7 - Leases and Deferred _4
Note 7 - Leases and Deferred Rent - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Operating cash flows from operating leases | $ 176 | ||
Operating leases | |||
Operating Lease, Right-of-Use Asset | 2,818 | $ 2,966 | |
Current portion of operating lease liabilities, included in accrued liabilities | 548 | ||
Operating lease liabilities, net of current portion | 2,406 | ||
Total operating lease liabilities | $ 2,954 | $ 3,101 | |
Weighted average remaining lease term for operating leases (Year) | 5 years 109 days | ||
Weighted average discount rate for operating leases | 6.10% |
Note 7 - Leases and Deferred _5
Note 7 - Leases and Deferred Rent - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 |
Remainder of 2019 | $ 533 | |
2020 | 700 | |
2021 | 646 | |
2022 | 595 | |
2023 | 606 | |
Thereafter | 375 | |
Total lease payments | 3,455 | |
Less: Imputed interest | (501) | |
Operating Lease, Liability, Total | $ 2,954 | $ 3,101 |
Note 8 - Shareholders' Equity -
Note 8 - Shareholders' Equity - Shareholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Balance, beginning of period | $ 52,201 | |||
Balance, end of period | 49,979 | $ 56,874 | ||
Foreign currency translation adjustment | (27) | 22 | ||
Net loss | (2,349) | (1,846) | ||
Total shareholders' equity | 49,979 | 56,874 | $ 49,979 | $ 56,874 |
Common Stock [Member] | ||||
Balance, beginning of period | 17 | 8 | ||
Balance, end of period | 17 | 8 | ||
Total shareholders' equity | 17 | 8 | 17 | 8 |
Additional Paid-in Capital [Member] | ||||
Balance, beginning of period | 57,840 | 47,464 | ||
Balance, end of period | 57,923 | 47,612 | ||
Share-based compensation expense | 74 | 137 | ||
Proceeds from employee stock purchase plan | 9 | 11 | ||
Total shareholders' equity | 57,840 | 47,464 | 57,923 | 47,612 |
AOCI Attributable to Parent [Member] | ||||
Balance, beginning of period | (181) | (65) | ||
Balance, end of period | (137) | (113) | ||
Unrealized gain (loss) on available-for-sale securities, net of tax | 70 | (70) | ||
Foreign currency translation adjustment | (26) | 22 | ||
Total shareholders' equity | (181) | (65) | (137) | (113) |
Retained Earnings [Member] | ||||
Balance, beginning of period | (5,475) | 9,160 | ||
Balance, end of period | (7,824) | 9,367 | ||
Stock repurchased | (147) | |||
Cash dividends, $0.07 per share | (583) | |||
Impact on retained earnings for change in revenue recognition policy | 2,783 | |||
Net loss | (2,349) | (1,846) | ||
Total shareholders' equity | $ (5,475) | $ 9,160 | $ (7,824) | $ 9,367 |
Note 8 - Shareholders' Equity_2
Note 8 - Shareholders' Equity - Shareholders' Equity (Details) (Parentheticals) | 3 Months Ended |
Mar. 31, 2018$ / shares | |
Retained Earnings [Member] | |
Cash dividends, per share (in dollars per share) | $ 0.07 |
Note 9 - Share-based Compensa_3
Note 9 - Share-based Compensation (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | Dec. 12, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 570,523 | 624,256 | |
The 2007 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 570,523 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares, Authorized and Unissued | 924,571 | ||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 191 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 7 days |
Note 9 - Share-based Compensa_4
Note 9 - Share-based Compensation - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Options outstanding at beginning of year (in shares) | 624,256 | |
Options outstanding at beginning of year (in dollars per share) | $ 8.87 | |
Number of shares, granted (in shares) | ||
Weighted average exercise price, granted (in dollars per share) | ||
Number of shares, exercised (in shares) | ||
Weighted average exercise price, exercised (in dollars per share) | ||
Number of shares, forfeited prior to vesting (in shares) | ||
Weighted average exercise price, forfeited prior to vesting (in dollars per share) | ||
Number of shares, canceled or expired (in shares) | (53,733) | |
Weighted average exercise price, canceled or expired (in dollars per share) | $ 9.49 | |
Options outstanding at March 31, 2019 (in shares) | 570,523 | 624,256 |
Options outstanding at March 31, 2019 (in dollars per share) | $ 8.81 | $ 8.87 |
Options exercisable at end of March 31, 2019 (in shares) | 514,438 | |
Options exercisable at end of March 31, 2019 (in dollars per share) | $ 8.63 |
Note 9 - Share-based Compensa_5
Note 9 - Share-based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based compensation expense | $ 74 | $ 137 |
Cost of Sales [Member] | ||
Share-based compensation expense | 2 | 5 |
Selling and Marketing Expense [Member] | ||
Share-based compensation expense | 1 | 10 |
Research and Development Expense [Member] | ||
Share-based compensation expense | 12 | 30 |
General and Administrative Expense [Member] | ||
Share-based compensation expense | $ 59 | $ 92 |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Available-for-sale securities | $ 9,123 | $ 4,715 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 9,123 | 4,715 |
Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
Corporate Debt Securities [Member] | ||
Available-for-sale securities | 5,490 | 2,881 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 5,490 | 2,881 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 3,633 | 1,834 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 3,633 | 1,834 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities |