Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 09, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000876378 | ||
Entity Registrant Name | ASENSUS SURGICAL, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 0-19437 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 11-2962080 | ||
Entity Address, Address Line One | 1 TW Alexander Drive, Suite 160 | ||
Entity Address, City or Town | Durham | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 27703 | ||
City Area Code | 919 | ||
Local Phone Number | 765-8400 | ||
Title of 12(b) Security | Common Stock $0.001 par value per share | ||
Trading Symbol | ASXC | ||
Security Exchange Name | NYSEAMER | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 29,200,000 | ||
Entity Common Stock, Shares Outstanding | 232,589,352 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 16,363 | $ 9,598 |
Accounts receivable, net | 1,115 | 620 |
Inventories | 10,034 | 10,653 |
Other current assets | 6,501 | 7,084 |
Total Current Assets | 34,013 | 27,955 |
Restricted cash | 1,166 | 969 |
Inventories, net of current portion | 8,813 | 7,594 |
Property and equipment, net | 10,342 | 4,706 |
Intangible Assets | 22,267 | 28,596 |
Net deferred tax assets | 307 | 0 |
Other long term assets | 1,350 | 2,489 |
Total Assets | 78,258 | 74,779 |
Current Liabilities: | ||
Accounts payable | 1,965 | 3,579 |
Accrued expenses | 6,301 | 8,553 |
Deferred revenue - current portion | 789 | 818 |
Notes payable - current portion | 1,228 | 0 |
Contingent consideration - current portion | 0 | 73 |
Total Current Liabilities | 10,283 | 13,023 |
Long Term Liabilities: | ||
Deferred revenue - less current portion | 0 | 27 |
Contingent consideration - less current portion | 3,936 | 1,011 |
Notes payable - less current portion | 1,587 | 0 |
Warrant liabilities | 255 | 2,388 |
Net deferred tax liabilities | 0 | 1,392 |
Other long term liabilities | 628 | 1,403 |
Total Liabilities | 16,689 | 19,244 |
Commitments and Contingencies (Note 21) | ||
Stockholders' Equity: | ||
Common stock $0.001 par value, 750,000,000 shares authorized at December 31, 2020 and December 31, 2019; 116,231,072 and 20,691,301 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively | 116 | 21 |
Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares issued and outstanding at December 31, 2020 and December 31, 2019 | 0 | 0 |
Additional paid-in capital | 781,397 | 720,484 |
Accumulated deficit | (722,912) | (663,600) |
Accumulated other comprehensive income (loss) | 2,968 | (1,370) |
Total Stockholders' Equity | 61,569 | 55,535 |
Total Liabilities and Stockholders' Equity | 78,258 | 74,779 |
Intellectual Property [Member] | ||
Current Assets: | ||
Intangible Assets | 22,267 | 28,596 |
In Process Research and Development [Member] | ||
Current Assets: | ||
Intangible Assets | $ 0 | $ 2,470 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 750,000,000 | 750,000,000 |
Common stock, shares issued (in shares) | 116,231,072 | 20,691,301 |
Common stock, shares outstanding (in shares) | 116,231,072 | 20,691,301 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue: | ||
Revenue | $ 3,175 | $ 8,531 |
Cost of revenue: | ||
Cost of revenue | 5,166 | 20,731 |
Gross loss | (1,991) | (12,200) |
Operating Expenses: | ||
Research and development | 16,621 | 22,468 |
Sales and marketing | 13,064 | 28,014 |
General and administrative | 14,137 | 18,758 |
Amortization of intangible assets | 10,801 | 10,301 |
Change in fair value of contingent consideration | 2,924 | (9,553) |
Restructuring and other charges | 851 | 1,374 |
Goodwill impairment | 0 | 78,969 |
Intangible assets impairment | 0 | 7,912 |
Total Operating Expenses | 58,398 | 142,375 |
Operating Loss | (60,389) | (154,575) |
Other Income (Expense): | ||
Change in fair value of warrant liabilities | (336) | 2,248 |
Interest income | 35 | 582 |
Interest expense | (19) | (4,613) |
Other expense, net | (119) | (967) |
Total Other Expense, net | (439) | (2,750) |
Total loss from operations before taxes | (60,828) | (157,325) |
Income tax benefit | 1,516 | 3,124 |
Net loss | (59,312) | (154,201) |
Deemed dividend related to beneficial conversion feature of preferred stock | (412) | 0 |
Deemed dividend related to conversion of preferred stock into common stock | (299) | 0 |
Net loss attributable to common stockholders | (60,023) | (154,201) |
Comprehensive loss: | ||
Net loss | (59,312) | (154,201) |
Foreign currency translation gain (loss) | 4,338 | (2,708) |
Comprehensive loss | $ (54,974) | $ (156,909) |
Net loss per common share attributable to common stockholders - basic and diluted (in dollars per share) | $ (0.85) | $ (8.69) |
Weighted average number of shares used in computing net loss per common share - basic and diluted (in shares) | 70,809 | 17,737 |
Product [Member] | ||
Revenue: | ||
Revenue | $ 1,612 | $ 7,104 |
Cost of revenue: | ||
Cost of revenue | 2,254 | 16,439 |
Service [Member] | ||
Revenue: | ||
Revenue | 1,563 | 1,427 |
Cost of revenue: | ||
Cost of revenue | 2,912 | 4,292 |
SurgiBot System [Member] | ||
Operating Expenses: | ||
Gain (loss) from sale of assets | 0 | 97 |
Auto Lap [Member] | ||
Operating Expenses: | ||
Gain (loss) from sale of assets | $ 0 | $ (15,965) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Public Offering [Member]Common Stock [Member] | Public Offering [Member]Preferred Stock [Member] | Public Offering [Member]Treasury Stock [Member] | Public Offering [Member]Additional Paid-in Capital [Member] | Public Offering [Member]Retained Earnings [Member] | Public Offering [Member]AOCI Attributable to Parent [Member] | Public Offering [Member] | Common Stock [Member] | Preferred Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 16,642 | 0 | 0 | ||||||||||||||||||
Balance at Dec. 31, 2018 | $ 0 | $ 0 | $ 0 | $ (7) | $ 7 | $ 0 | $ 0 | $ 17 | $ 0 | $ 0 | $ 676,572 | $ (509,406) | $ 1,338 | $ 168,521 | |||||||
Stock-based compensation | $ 0 | $ 0 | $ 0 | 11,508 | 0 | 0 | 11,508 | ||||||||||||||
Issuance of stock (in shares) | 3,571 | 0 | 0 | ||||||||||||||||||
Issuance of stock | $ 4 | $ 0 | $ 0 | 25,773 | 0 | 0 | 25,777 | ||||||||||||||
Issuance of common stock consideration of MST (in shares) | 370 | 0 | 0 | ||||||||||||||||||
Issuance of common stock consideration of MST | $ 0 | $ 0 | $ 0 | 6,599 | 0 | 0 | 6,599 | ||||||||||||||
Exercise of stock options and warrants (in shares) | 38 | 0 | 0 | ||||||||||||||||||
Exercise of stock options and warrants | $ 0 | $ 0 | $ 0 | 538 | 0 | 0 | 538 | ||||||||||||||
Award of restricted stock units (in shares) | 70 | 0 | 0 | ||||||||||||||||||
Award of restricted stock units | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Return of common stock to pay withholding taxes on restricted stock (in shares) | 0 | 0 | 15 | ||||||||||||||||||
Return of common stock to pay withholding taxes on restricted stock | $ 0 | $ 0 | $ 0 | (499) | 0 | 0 | (499) | ||||||||||||||
Cancellation of treasury stock (in shares) | 0 | 0 | (15) | ||||||||||||||||||
Cancellation of treasury stock | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | (2,708) | (2,708) | ||||||||||||||
Net loss | $ 0 | $ 0 | $ 0 | 0 | (154,201) | 0 | (154,201) | ||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 20,691 | 0 | 0 | ||||||||||||||||||
Balance at Dec. 31, 2019 | $ 21 | $ 0 | $ 0 | 720,484 | (663,600) | (1,370) | 55,535 | ||||||||||||||
Stock-based compensation | 7,911 | 7,911 | |||||||||||||||||||
Issuance of stock (in shares) | 14,122 | 7,937 | 0 | 66,241 | 0 | 0 | |||||||||||||||
Issuance of stock | $ 14 | $ 79 | $ 0 | $ 13,384 | $ 0 | $ 0 | $ 13,477 | $ 66 | $ 0 | $ 0 | 33,780 | 0 | 0 | 33,846 | |||||||
Exercise of stock options and warrants (in shares) | 4,913 | 0 | 0 | ||||||||||||||||||
Exercise of stock options and warrants | $ 5 | $ 0 | $ 0 | 3,335 | 0 | 0 | 3,340 | ||||||||||||||
Award of restricted stock units (in shares) | 286 | 0 | 0 | ||||||||||||||||||
Award of restricted stock units | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Return of common stock to pay withholding taxes on restricted stock (in shares) | 0 | 0 | 28 | ||||||||||||||||||
Return of common stock to pay withholding taxes on restricted stock | $ 0 | $ 0 | $ 0 | (36) | 0 | 0 | (36) | ||||||||||||||
Cancellation of treasury stock (in shares) | 0 | 0 | (28) | ||||||||||||||||||
Cancellation of treasury stock | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | ||||||||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 4,338 | 4,338 | ||||||||||||||
Net loss | $ 0 | $ 0 | $ 0 | 0 | (59,312) | 0 | (59,312) | ||||||||||||||
Conversion of preferred stock to common stock (in shares) | 7,937 | (7,937) | 0 | ||||||||||||||||||
Conversion of preferred stock to common stock | $ 8 | $ (79) | $ 0 | 71 | 0 | 0 | 0 | ||||||||||||||
Exchange of shares for Series B Warrants (in shares) | 2,041 | 0 | 0 | ||||||||||||||||||
Exchange of shares for Series B Warrants | $ 2 | $ 0 | $ 0 | 2,468 | 0 | 0 | 2,470 | ||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 116,231 | 0 | 0 | ||||||||||||||||||
Balance at Dec. 31, 2020 | $ 116 | $ 0 | $ 0 | $ 781,397 | $ (722,912) | $ 2,968 | $ 61,569 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Activities: | ||
Net loss | $ (59,312) | $ (154,201) |
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: | ||
Goodwill and intangible assets impairment | 0 | 86,881 |
Depreciation | 2,898 | 2,166 |
Amortization of intangible assets | 10,801 | 10,301 |
Amortization of debt discount and debt issuance costs | 0 | 1,513 |
Amortization of short-term investment discount | 0 | (327) |
Stock-based compensation | 7,911 | 11,508 |
Interest expense on deferred consideration - MST acquisition | 0 | 756 |
Deferred tax benefit | (1,516) | (3,224) |
Bad debt expense | 0 | 1,634 |
Write down of inventory | 0 | 8,931 |
Change in fair value of warrant liabilities | 336 | (2,248) |
Change in fair value of contingent consideration | 2,924 | (9,553) |
Loss on extinguishment of debt | 0 | 1,006 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (447) | 6,083 |
Interest receivable | 0 | 26 |
Inventories | (7,198) | (16,404) |
Other current and long term assets | 2,296 | (655) |
Accounts payable | (1,758) | (668) |
Accrued expenses | (2,645) | (1,180) |
Deferred revenue | (105) | (959) |
Other long term liabilities | (860) | 998 |
Net cash and cash equivalents used in operating activities | (46,675) | (73,484) |
Investing Activities: | ||
Proceeds from sale of AutoLap assets | 0 | 15,965 |
Purchase of short-term investments | 0 | (12,883) |
Proceeds from maturities of short-term investments | 0 | 65,000 |
Purchase of property and equipment | (3) | (437) |
Net cash and cash equivalents (used in) provided by investing activities | (3) | 67,645 |
Financing Activities: | ||
Proceeds from issuance of common stock, preferred stock and warrants under 2020 financing, net of issuance costs | 13,478 | 0 |
Proceeds from issuance of common stock, net of issuance costs | 33,847 | 25,777 |
Proceeds from notes payable, net of issuance costs | 2,815 | 0 |
Payment of note payable | 0 | (31,425) |
Taxes paid related to net share settlement of vesting of restricted stock units | (36) | (499) |
Payment of contingent consideration | (74) | 0 |
Proceeds from exercise of stock options and warrants | 3,340 | 538 |
Net cash and cash equivalents provided by (used in) financing activities | 53,370 | (5,609) |
Effect of exchange rate changes on cash and cash equivalents | 270 | 364 |
Net increase in cash, cash equivalents and restricted cash | 6,962 | (11,084) |
Cash, cash equivalents and restricted cash, beginning of period | 10,567 | 21,651 |
Cash, cash equivalents and restricted cash, end of period | 17,529 | 10,567 |
Supplemental Disclosure for Cash Flow Information: | ||
Interest paid | 0 | 2,187 |
Supplemental Schedule of Non-cash Investing and Financing Activities: | ||
Transfer of inventories to property and equipment | 8,113 | 486 |
Exchange of common stock for Series B Warrants | 2,470 | 0 |
Transfer of in-process research and development to intellectual property | 2,425 | 0 |
Deemed dividend related to beneficial conversion feature of preferred stock | 412 | 0 |
Deemed dividend related to conversion of preferred stock into common stock | 299 | 0 |
Issuance of common stock - MST acquisition | 0 | 6,600 |
Proceeds from sale of AutoLap assets exchanged for settlement of Company obligations | 0 | 1,000 |
Transfer of property and equipment to inventories | 0 | 323 |
Conversion of preferred stock to common stock | 79 | 0 |
Auto Lap [Member] | ||
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: | ||
Gain (loss) from sale of assets | 0 | (15,965) |
SurgiBot System [Member] | ||
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: | ||
Gain (loss) from sale of assets | $ 0 | $ 97 |
Note 1 - Organization and Capit
Note 1 - Organization and Capitalization | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 1. Organization and Capitalization In February 2021, TM first 3 The Senhance System is available for sale in Europe, the United States, Japan, Taiwan, Russia and select other countries. • The Senhance System has a CE Mark in Europe for adult and pediatric laparoscopic abdominal and pelvic surgery, as well as limited thoracic surgeries excluding cardiac and vascular surgery. • In the United States, the Company has received 510 31 • In Japan, the Company has received regulatory approval and reimbursement for 98 • The Senhance System received its registration certificate by the Russian medical device regulatory agency, Roszdravnadzor, in December 2020, In 2020, March 13, 2020 first September 23, 2020, first January 19, 2021, 3 February 15, 2021, two On October 31, 2018, one 3 October 2019. 3 The Company has also developed the SurgiBot System, a single-port, robotically enhanced laparoscopic surgical platform. In December 2017, March 2023. no December 31, 2018 On September 18, 2015, September 2015, September 21, 2015 February 24, 2021, 3 On September 3, 2013, December 6, 2013, February 23, 2021, February 25, 2021, As used herein, the term “Company” refers to the combination of SafeStitch and TransEnterix Surgical after giving effect to the Merger, and includes Asensus Surgical US, Inc., SafeStitch LLC, Asensus International, Inc.; Asensus Surgical Italia S.r.l.; Asensus Surgical Europe S.à.R.L; TransEnterix Taiwan Ltd.; TransEnterix Japan KK; Asensus Surgical Israel Ltd., Asensus Surgical Netherlands B.V., and Asensus Surgical Canada, Inc. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include the accounts of the Company and its direct and indirect wholly owned subsidiaries. All material inter-company accounts and transactions have been eliminated in consolidation. On December 11, 2019, one December 12, 2019. No Unless otherwise noted, all share and per share data referenced in the consolidated financial statements and the notes thereto have been retroactively adjusted to reflect the Reverse Stock Split. As a result of the Reverse Stock Split, certain amounts in the consolidated financial statements and the notes thereto may Liquidity The Company had an accumulated deficit of $722.9 million, working capital of $23.7 million, and cash and cash equivalents, excluding restricted cash, of $16.4 million as of December 31, 2020. not The Company believes the COVID- 19 December 31, 2020, December 31, 2020, January 2021 January 2021 2020 2021 $30.4 December 31, 2020 January 2021 12 may Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include impairment considerations for intangible assets, fair value estimates related to contingent consideration, warrant liabilities, stock compensation expense, revenue recognition, accounts receivable reserves, excess and obsolete inventory reserves, inventory classification between current and non-current, and deferred tax asset valuation allowances. The COVID- 19 19 19 19 19 Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with original maturities of 90 Restricted cash at December 31, 2020 2019 2018. Concentrations and Credit Risk The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents, including amounts held in money market accounts. The Company places cash deposits with a federally insured financial institution. The Company maintains its cash at banks and financial institutions it considers to be of high credit quality; however, the Company’s domestic cash deposits may may not not not The Company’s accounts receivable are derived from sales to customers located throughout the world. The Company evaluates its customers’ financial condition and, generally, requires no December 31, 2020 December 31, 2019. December 31, 2020. eight December 31, 2019. nine 2020 six 2019. Accounts Receivable Accounts receivable are recorded at net realizable value, which includes an allowance for estimated uncollectible accounts. The allowance for uncollectible accounts was determined on a customer specific basis based on deemed collectability. The allowance for doubtful accounts was $1.8 million and $1.7 December 31, 2020 December 31, 2019, Inventories Inventories are stated at the lower of cost (determined on a first first not Any inventory on hand at the measurement date in excess of the Company's current requirements based on anticipated levels of sales is classified as long-term on the Company's consolidated balance sheets. The Company's classification of long-term inventory requires it to estimate the portion of on hand inventory that can be realized over the upcoming twelve Identifiable Intangible Assets and Goodwill Definite-Lived Intangible Assets - Intellectual Property Intellectual property consists of purchased patent rights and developed technology acquired as part of a business acquisition. Developed technology includes reclassified IPR&D assets related to (i) the Senhance System acquired in 2015 2017 2018 2020. The Company periodically evaluates intellectual property for impairment whenever events or changes in circumstances indicate that the carrying amount may not No December 31, 2020 2019. Indefinite-Lived Intangible Assets In-Process Research and Development In-process research and development (“IPR&D”) assets represent the fair value assigned to technologies that were acquired, which at the time of acquisition have not no The Company reclassifies IPR&D assets to intellectual property when development is complete, which generally occurs upon regulatory approval when the Company is able to commercialize products. The completed IPR&D assets are then classified as definite-lived intangible assets (developed technology) and are amortized based on their estimated useful lives at that point in time. If development is terminated or abandoned, the Company may The Company performed an impairment test of its IPR&D at the end of the third 2019 third 2019, December 31, 2019 no December 31, 2020, As of December 31, 2020, no Goodwill Goodwill of $93.8 million was recorded in connection with a September 2013 3 third 2019, As of December 31, 2020, no Property and Equipment Property and equipment consists primarily of operating lease Senhance System assets, machinery, manufacturing equipment, demonstration equipment, computer equipment, furniture, and leasehold improvements, which are recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets as follows: Years Operating lease assets – Senhance System leasing 5 Machinery, manufacturing, and demonstration equipment 3 - 5 Computer equipment 3 Furniture 5 Leasehold improvements Lesser of lease term or 3 to 10 Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is credited or charged to operations. Repairs and maintenance costs are expensed as incurred. Impairment of Long-Lived Assets The Company reviews its property and equipment assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not not December 31, 2020 2019. Contingent Consideration Contingent consideration is recorded as a liability and is the estimate of the fair value of potential milestone payments related to business acquisitions. Contingent consideration is measured at fair value using a discounted cash flow model utilizing significant unobservable inputs including the probability of achieving each of the potential milestones, future Euro-to-USD exchange rates, and an estimated discount rate associated with the risks of the expected cash flows attributable to the various milestones. Significant increases or decreases in any of the probabilities of success or changes in expected achievement of any of these milestones would result in a significantly higher or lower fair value of these milestones, respectively, and commensurate changes to the associated liability. The contingent consideration is revalued at each reporting period and changes in fair value are recognized in the consolidated statements of operations and comprehensive loss. Warrant Liabilities The Company’s Series B Warrants (see Note 16 5 Translation of Foreign Currencies The functional currency of the Company’s operational foreign subsidiaries is predominantly the Euro. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for a subsidiary using a functional currency other than the U.S. dollar is included in accumulated other comprehensive income or loss as a separate component of stockholders’ equity. The Company’s intercompany accounts are denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in accumulated other comprehensive income or loss as a separate component of stockholders’ equity, while gains and losses resulting from the remeasurement of intercompany receivables from a foreign subsidiary for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statements of operations and comprehensive loss. The net gains and losses included in net loss in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2020 2019 not Business Acquisitions Business acquisitions are accounted for using the acquisition method of accounting in accordance with ASC 805, 805 820, 805 805, Significant judgments are used during this process, particularly with respect to intangible assets. Therefore, the purchase price allocation to intangible assets and goodwill has a significant impact on future operating results. Risk and Uncertainties The Company is subject to risks similar to other similarly sized companies in the medical device industry. These risks include, without limitation: potential negative impacts on the Company's operations caused by the COVID- 19 Revenue Recognition The Company’s revenue consists of product revenue resulting from the sale and lease of Systems, System components, instruments and accessories, and service revenue. The Company accounts for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. The Company's revenues are measured based on consideration specified in the contract with each customer, net of any sales incentives and taxes collected from customers that are remitted to government authorities. The Company’s System sale arrangements generally include a five first four The Company’s System sale arrangements generally contain multiple products and services. For these consolidated sale arrangements, the Company accounts for individual products and services as separate performance obligations if they are distinct, which is if a product or service is separately identifiable from other items in the consolidated package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company’s System sale arrangements may For arrangements that contain multiple performance obligations, revenue is allocated to each performance obligation based on its relative estimated standalone selling price. When available, standalone selling prices are based on observable prices at which the Company separately sells the products or services; however due to limited sales to date, standalone selling prices generally are not not The Company recognizes revenues as the performance obligations are satisfied by transferring control of the product or service to a customer. The Company generally recognizes revenue for the performance obligations as follows: ● System sales. For Systems and System components sold directly to end customers, revenue is recognized when the Company transfers control to the customer, which is generally at the point when acceptance occurs that indicates customer acknowledgment of delivery or installation, depending on the terms of the arrangement. For Systems sold through distributors, for which distributors are responsible for installation, revenue is recognized generally at the time of shipment. The Company’s System arrangements generally do not one not ● Instruments and accessories. Revenue from sales of instruments and accessories is recognized when control is transferred to the customers, which generally occurs at the time of shipment, but also occurs at the time of delivery depending on the customer arrangement. ● Service. Service revenue is recognized ratably over the term of the service period as the customers benefit from the service throughout the service period. Revenue related to services performed on a time-and-materials basis is recognized when performed. The following table presents revenue disaggregated by type and geography: Year Ended December 31, 2020 2019 (in thousands) U.S. Systems $ 282 $ 90 Instruments and accessories 187 108 Services 380 338 Total U.S. revenue 849 536 Outside of U.S. ("OUS") Systems 490 5,459 Instruments and accessories 653 1,447 Services 1,183 1,089 Total OUS revenue 2,326 7,995 Total Systems 772 5,549 Instruments and accessories 840 1,555 Services 1,563 1,427 Total revenue $ 3,175 $ 8,531 The Company recognizes sales by geographic area based on the country in which the customer is based. Operating lease revenue from Senhance System Leasing (see discussion below) is included as Systems in the above table and was approximately $0.7 million and $0 million for the years ended December 31, 2020 2019, Transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not December 31, 2020 2019, The Company invoices its customers based on the billing schedules in its sales arrangements. Contract assets for the periods presented primarily represent the difference between the revenue that was recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. Contract assets are included in accounts receivable and totaled $0.1 million and $0.2 million as of December 31, 2020 2019, not December 31, 2020 2019, December 31, 2019 2017 first second 2019. December 31, 2020 one three In connection with assets recognized from the costs to obtain a contract with a customer, the Company determined that the sales incentive programs for its sales team do not not Senhance System Leasing The Company enters into lease arrangements with certain qualified customers. Revenue related to arrangements including lease elements are allocated to lease and non-lease elements based on their relative standalone selling prices. Lease elements generally include a Senhance System, while non-lease elements generally include training and proctoring services, instruments, and accessories. For some lease arrangements, the customers are provided with the right to purchase the leased System at some point during and/or at the end of the lease term. In some arrangements lease payments are based on the usage of the System. In determining whether a transaction should be classified as a sales-type or operating lease, the Company considers the following terms at lease commencement: ( 1 2 3 4 5 no December 31, 2020 Revenue related to lease elements from operating lease arrangements is generally recognized on a straight-line basis over the lease term or based upon System usage and is presented as product revenue. Revenue related to lease elements from operating lease arrangements was approximately $0.7 million and $0 million for the years ended December 31, 2020 2019, Cost of Revenue Cost of revenue consists of contract manufacturing, materials, labor and manufacturing overhead incurred internally to produce the products. Shipping and handling costs incurred by the Company are included in cost of revenue. During the years ended December 31, 2020 2019, Research and Development Costs Research and development expenses primarily consist of engineering, product development and regulatory expenses, incurred in the design, development, testing and enhancement of our products. Research and development costs are expensed as incurred. Stock-Based Compensation The Company follows ASC 718 not not not The fair value of restricted stock units is determined by the market price of the Company’s common stock on the date of grant. The Company records as expense the fair value of stock-based compensation awards, including stock options and restricted stock units. Compensation expense for stock-based compensation was approximately $7.9 million and $11.5 million for the years ended December 31, 2020 2019, Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets or liabilities for the temporary differences between financial reporting and tax basis of the Company’s assets and liabilities, and for tax carryforwards at enacted statutory rates in effect for the years in which the asset or liability is expected to be realized. The effect on deferred taxes of a change in tax rates is recognized in income during the period that includes the enactment date. In addition, valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amounts expected to be realized. The Company has elected to account for global intangible low-taxed income (“GILTI”) as a period expense in the year the tax is incurred. The Company recognizes the financial statement benefit of an income tax position only after determining that the relevant taxing authority would more likely than not not 50% Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require application of significant judgment. The Company is subject to U.S. federal and various state, local and foreign jurisdictions. Due to the Company’s net operating loss carryforwards, the Company may In a referendum held on May 19, 2019, not 2020 2019 On March 27, 2020, 19 June 5, 2020 may Comprehensive Loss Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Segments The Company operates in one not Approximately 27% and 19% of the Company’s total consolidated assets are located within the U.S. as of December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019, Impact of Recently Issued Accounting Standards In August 2018, 2018 13, Fair Value Measurement (Topic 820 Changes to the Disclosure Requirements for Fair Value Measurement. January 1, 2020 not In December 2019, 2019 12, Simplifying the Accounting for Income Taxes 2019 12 740, 2019 12 December 15, 2020, not In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2022, not In August 2020, 2020 06 Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (subtopic 815 40 December 15, 2023, The Company has evaluated all other issued and unadopted ASUs and believes the adoption of these standards will not |
Note 3 - Acquisitions
Note 3 - Acquisitions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. Acquisitions MST Medical Surgery Technologies Ltd. Acquisition On September 23, 2018, two October 31, 2018, Under the terms of the MST Purchase Agreement, at the closing the Buyers purchased substantially all of the assets of MST. The acquisition price consisted of two second $6.6 one August 7, 2019, February 7, 2020. On July 3, 2019, October 15, 2019, 2019 December 31, 2019, Senhance Surgical Robotic System On September 21, 2015, € 27.5 February 25, 2021, On December 30, 2016, second € 5.0 January 2017. € 22.5 €15.1 December 31, 2019. third € 15.0 €25.0 The fourth €2.5 December 31 December 31, 2017. December 31, 2020, fourth The Third Tranche payments will be accelerated in the event that (i) the Company or Asensus International is acquired, (ii) the Company significantly reduces or suspends selling efforts of the Senhance System, or (iii) the Company acquires a business that offers alternative products that are directly competitive with the Senhance System. The remaining amounts due to Sofar are included in contingent consideration as of December 31, 2020 2019 |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents, and Restricted Cash | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Restricted Cash Disclosure [Text Block] | 4. Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents and restricted cash consist of the following: December 31, 2020 December 31, 2019 (In thousands) Cash $ 6,679 $ 9,596 Money market 9,684 2 Total cash and cash equivalents $ 16,363 $ 9,598 Restricted cash 1,166 969 Total $ 17,529 $ 10,567 Restricted cash at December 31, 2020 2019 2018. |
Note 5 - Fair Value
Note 5 - Fair Value | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. Fair Value The Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis. These assets and liabilities include cash and cash equivalents, restricted cash, contingent consideration and warrant liabilities. ASC 820 10 three one three 1, 2, 1, 3, not 1, 2, 3 December 31, 2020 2019. For assets and liabilities recorded at fair value, it is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets and liabilities where there exists limited or no may not may As prescribed by U.S. GAAP, the Company groups assets and liabilities at fair value in three 1 2 The determination of where an asset or liability falls in the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures and based on various factors, it is possible that an asset or liability may The carrying values of accounts receivable, other current assets, accounts payable, and certain accrued expenses at December 31, 2020 2019, December 31, 2020, The following are the major categories of assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 2019, 1 2 3 December 31, 2020 (In thousands) Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets measured at fair value Cash and cash equivalents $ 16,363 $ — $ — $ 16,363 Restricted cash 1,166 — — 1,166 Total Assets measured at fair value $ 17,529 $ — $ — $ 17,529 Liabilities measured at fair value Contingent consideration $ — $ — $ 3,936 $ 3,936 Warrant liabilities — — 255 255 Total liabilities measured at fair value $ — $ — $ 4,191 $ 4,191 December 31, 2019 (In thousands) Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets measured at fair value Cash and cash equivalents $ 9,598 $ — $ — $ 9,598 Restricted cash 969 — — 969 Total Assets measured at fair value $ 10,567 $ — $ — $ 10,567 Liabilities measured at fair value Contingent consideration $ — $ — $ 1,084 $ 1,084 Warrant liabilities — — 2,388 2,388 Total liabilities measured at fair value $ — $ — $ 3,472 $ 3,472 The Company’s financial liabilities consisted of contingent consideration payable to Sofar related to the Senhance Acquisition in September 2015 ( 3 3 December 31, 2020 December 31, 2019 On April 28, 2017, October 31, 2017. may fifth The exercise prices and the number of shares issuable upon exercise of each of the Series B Warrants are subject to adjustment upon the occurrence of certain events, including, but not one thirteen December 11, 2019, December 31, 2020. The change in fair value of all outstanding Series B warrants for the years ended December 31, 2020 2019 December 31, 2020 December 31, 2019 Series B December 31, 2020 December 31, 2019 Fair value (million) $ 0.3 $ 2.4 Valuation methodology Black-Scholes-Merton Monte Carlo Term (years) 1.32 2.32 Risk free rate 0.10 % 1.59 % Dividends — — Volatility 150.97 % 109.80 % Share price $ 0.63 $ 1.47 Probability of additional financing N/A 100% in 2020 The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements for contingent consideration as of December 31, 2020 2019: Valuation Methodology Significant Unobservable Input Weighted Average (range, if applicable) December 31, 2020 December 31, 2019 Contingent consideration Probability weighted Milestone dates 2024 to 2029 2020 to 2024 Discount rate 9.5% to 15.75% 10% to 11% The following table summarizes the change in fair value, as determined by Level 3 December 31, 2020 2019: Fair Value Measurement at Reporting Date (Level 3) (In thousands) Common stock Contingent Balance at December 31, 2018 $ 4,636 $ 10,637 Change in fair value (2,248 ) (9,553 ) Balance at December 31, 2019 2,388 1,084 Exchange of warrants for common stock (2,469 ) — Payment for contingent consideration — (74 ) Change in fair value 336 2,924 Balance at December 31, 2020 255 3,936 Current portion — — Long-term portion 255 3,936 Balance at December 31, 2020 $ 255 $ 3,936 |
Note 6 - Accounts Receivable, N
Note 6 - Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 6. Accounts Receivable, Net The following table presents the components of accounts receivable: December 31, 2020 December 31, 2019 (In thousands) Gross accounts receivable $ 2,917 $ 2,274 Allowance for uncollectible accounts (1,802 ) (1,654 ) Total accounts receivable, net $ 1,115 $ 620 The Company recorded $1.6 million in bad debt expense during the year ended December 31, 2019. December 31, 2020. |
Note 7 - Inventories
Note 7 - Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. Inventories The components of inventories are as follows: December 31, 2020 December 31, 2019 (In thousands) Finished goods $ 10,749 $ 9,737 Raw materials 8,098 8,510 Total inventories $ 18,847 $ 18,247 Current Portion $ 10,034 $ 10,653 Long-term portion 8,813 7,594 Total inventories $ 18,847 $ 18,247 The Company recorded a write-down of obsolete inventory for the year-ended December 31, 2019 no December 31, 2020. |
Note 8 - Other Current Assets
Note 8 - Other Current Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | 8. Other Current Assets The following table presents the components of other current assets: December 31, 2020 December 31, 2019 (In thousands) Advances to vendors $ 1,925 $ 2,534 Prepaid expenses 1,706 1,834 VAT receivable 2,870 2,716 Total $ 6,501 $ 7,084 |
Note 9 - Property and Equipment
Note 9 - Property and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Property and Equipment Property and equipment consisted of the following: December 31, 2020 December 31, 2019 (In thousands) Machinery, manufacturing and demonstration equipment $ 10,153 $ 9,711 Operating lease assets - Senhance System leasing 9,203 710 Computer equipment 2,297 2,321 Furniture 640 637 Leasehold improvements 2,309 2,295 Total property and equipment 24,602 15,674 Accumulated depreciation and amortization (14,260 ) (10,968 ) Property and equipment, net $ 10,342 $ 4,706 Depreciation expense was approximately $2.9 million and $2.2 million for the years ended December 31, 2020 2019, |
Note 10 - Goodwill, In-process
Note 10 - Goodwill, In-process Research and Development and Intellectual Property | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 10. Goodwill, In-Process Research and Development and Intellectual Property Goodwill Goodwill of $93.8 million was recorded in connection with the Merger, as described in Note 1, 3, 3. December 31, 2019 Goodwill (In thousands) Balance at December 31, 2018 $ 80,131 Foreign currency translation impact (1,162 ) Impairment (78,969 ) Balance at December 31, 2019 $ — The Company performed an annual impairment test of goodwill at December 31, one may not third 2019, September 30, 2019, In-Process Research and Development As described in Note 3, October 31, 2018, The Company performed an impairment test of its IPR&D at the end of the third 2019 third 2019, December 31, 2019 no December 31, 2020, The carrying value of the Company’s IPR&D assets and the change in the balance for the years ended December 31, 2019 2020 In-Process Research and Development (In thousands) Balance at December 31, 2018 $ 10,747 Impairment (7,912 ) Foreign currency translation impact (365 ) Balance at December 31, 2019 2,470 Impairment — Foreign currency translation impact (45 ) Transfer of in-process research and development to intellectual property (2,425 ) Balance at December 31, 2020 $ — Intellectual Property As described in Note 3, September 21, 2015, October 13, 2017, As described above, on March 13, 2020, The components of gross intellectual property, accumulated amortization, and net intellectual property as of December 31, 2020 2019 December 31, 2020 December 31, 2019 (In thousands) (In thousands) Gross Carrying Amount Accumulated Amortization Foreign currency translation impact Net Carrying Amount Gross Carrying Amount Accumulated Amortization Foreign currency translation impact Net Carrying Amount Developed technology $ 68,838 $ (51,734 ) $ 4,872 $ 21,976 $ 66,413 $ (36,918 ) $ (1,208 ) $ 28,287 Technology and patents purchased 400 (168 ) 59 291 400 (112 ) 21 309 Total intellectual property $ 69,238 $ (51,902 ) $ 4,931 $ 22,267 $ 66,813 $ (37,030 ) $ (1,187 ) $ 28,596 The weighted average remaining useful life of the developed technology and technology and patents purchased was 2.2 years and 6.3 years, respectively as of December 31, 2020. The estimated future amortization expense of intangible assets as of December 31, 2020 Year ending December 31, 2020 (In thousands) 2021 $ 11,634 2022 8,833 2023 430 2024 430 2025 430 Thereafter 510 Total $ 22,267 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. Income Taxes The components for the income tax expense (benefit) are as follows for the years ended December 31 2020 2019 Current income taxes Federal $ — $ — State — — Foreign 169 100 Deferred income taxes Federal — — State — — Foreign (1,685 ) (3,224 ) Total income tax expense (benefit) $ (1,516 ) $ (3,124 ) The United States and foreign components of loss from operations before taxes are as follows for the years ended December 31 2020 2019 United States $ (34,398 ) $ (91,935 ) Foreign (26,430 ) (65,390 ) Total loss from operations before taxes $ (60,828 ) $ (157,325 ) Significant components of the Company’s deferred tax assets consist of the following at December 31 2020 2019 Deferred tax assets: Stock-based compensation $ 4,253 $ 3,665 Accrued expenses and other 906 1,007 Research credit carryforward 7,209 6,776 Fixed assets 385 345 Capitalized start-up costs and other intangibles 2,686 3,618 Net operating loss carryforwards 122,193 113,410 137,632 128,821 Valuation allowance (132,928 ) (123,108 ) Net deferred tax asset 4,704 5,713 Deferred tax liabilities Fixed assets and other (1,590 ) (1,445 ) Purchase accounting intangibles (2,807 ) (5,660 ) Net deferred tax liability (4,397 ) (7,105 ) Net deferred tax asset (liability) $ 307 $ (1,392 ) At December 31, 2020 2019, not not. December 31, 2020, 2027, December 31, 2020, 2022, December 31, 2020, 2027. At December 31, 2020, 2035; 2023. The Company has evaluated its tax positions to consider whether it has any unrecognized tax benefits. As of December 31, 2020, none not twelve not The following is a tabular reconciliation of the Company’s change in gross unrecognized tax positions at December 31 2020 2019 Beginning balance $ 1,512 $ 1,363 Gross increases for tax positions related to current periods 108 149 Gross increases for tax positions related to prior periods — — Ending balance $ 1,620 $ 1,512 The Company recognizes interest and penalties related to uncertain tax positions in the provision for income taxes. As of December 31, 2020 2019, The Company has analyzed its filing positions in all significant federal, state, and foreign jurisdictions where it is required to file income tax returns, as well as open tax years in these jurisdictions. With few exceptions, the Company is no 2017, 2017 may No Taxes computed at the then-current statutory federal income tax rate of 21% are reconciled to the provision for income taxes as follows for the years ended December 31: 2020 2019 Percent of Pretax Percent of Pretax Amount Earnings Amount Earnings United States federal tax at statutory rate $ (12,774 ) 21.0 % $ (33,038 ) 21.0 % State taxes (net of deferred benefit) (1,768 ) 2.9 % (4,778 ) 3.0 % Nondeductible expenses 719 (1.2 %) 709 (0.5 %) Change in fair market value of contingent consideration 717 (1.2 %) (2,342 ) 1.5 % Warrant remeasurement and financing costs 82 (0.1 %) (551 ) 0.4 % Research & Development credits (542 ) 0.9 % (743 ) 0.5 % Change in unrecognized tax benefits 108 (0.2 %) 149 (0.1 %) Foreign tax rate differential 1,589 (2.6 %) 2,590 (1.6 %) Goodwill and investment impairments — (0 %) (6,638 ) 4.2 % Change in enacted tax rates and other, net 533 (0.9 %) (253 ) 0.2 % Change in valuation allowance 9,820 (16.1 %) 41,771 (26.6 %) Income tax benefit $ (1,516 ) 2.5 % $ (3,124 ) 2.0 % The Company has analyzed its filing positions in all significant federal, state, and foreign jurisdictions where it is required to file income tax returns, as well as open tax years in these jurisdictions. Pursuant to the Internal Revenue Code, as amended (the “Code”) Sections 382 383, may 50% three may not 382 383. not no 2017, 2017 may No |
Note 12 - Accrued Expenses
Note 12 - Accrued Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Accrued Liabilities [Text Block] | 12. Accrued Expenses The following table presents the components of accrued expenses: December 31, 2020 December 31, 2019 (In thousands) Compensation and benefits $ 4,541 $ 5,061 Restructuring costs — 882 Consulting and other vendors 66 308 Other 177 242 Lease Liability 686 1,112 Royalties 147 148 Legal and professional fees 314 474 Taxes and other assessments 351 326 Interest 19 — Total $ 6,301 $ 8,553 |
Note 13 - Notes Payable
Note 13 - Notes Payable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 13. Notes Payable Paycheck Protection Program The CARES Act was passed in the United States and signed into law on March 7, 2020 June 5, 2020 April 27, 2020, April 18, 2020 ( The Promissory Note has a two April 27, 2022, may 60% may not 10 24 twelve Any forgiveness of the Promissory Note will be subject to approval by the SBA and the Lender. The Company recognizes that its restructuring activities unrelated to COVID- 19 may not not may February 10, 2021. Hercules Loan Agreement On May 23, 2018, two 2019. The term loans bore interest at a rate equal to the greater of (i) 9.55% per annum (the “Fixed Rate”) and (ii) the Fixed Rate plus the prime rate (as reported in The Wall Street Journal) minus 5.00%. On the Initial Funding Date, the Company was obligated to pay a facility fee of $0.4 million, recorded as a debt discount. The Company also incurred other debt issuance costs totaling $1.1 million in conjunction with its entry into the Hercules Loan Agreement. In addition, the Company was permitted to prepay the term loans in full at any time, with a prepayment fee of 3.0% of the outstanding principal amount of the loan in the first second The Company’s obligations under the Hercules Loan Agreement were guaranteed by all current and future material foreign subsidiaries of the Company and were secured by a security interest in all of the assets of the Company and their current and future domestic subsidiaries and all of the assets of their current and future material foreign subsidiaries, including a security interest in the intellectual property. The Hercules Loan Agreement contained customary representations and covenants that, subject to exceptions, restricted the Company’s and its subsidiaries’ ability to do the following, among other things: declare dividends or redeem or repurchase equity interests; incur additional indebtedness and liens; make loans and investments; engage in mergers, acquisitions, and asset sales; transact with affiliates; undergo a change in control; add or change business locations; and engage in businesses that were not first x 90 On November 4, 2019, December 31, 2019. |
Note 14 - Stock-based Compensat
Note 14 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 14. Stock-Based Compensation The Company’s stock-based compensation plans include the Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan, previously named the TransEnterix, Inc. Amended and Restated Incentive Compensation Plan and prior to that named the TransEnterix, Inc. 2007 2006 2006 The Plan was initially approved by the majority of the stockholders on November 13, 2007. June 19, 2012 October 29, 2013 76,923 May 7, 2015 May 7, 2025; October 2015 June 8, 2016 May 25, 2017, May 24, 2018, October 2018 April 24, 2019, June 8, 2020, October 2020 The October 2013, May 2015, June 2016, May 2017, May 2018, April 2019 June 2020 may may not no may ten On August 11, 2020, 711 The 2006 September 2006 2006 2009, 2006 2011, 2006 2006 four not 10 2006 During the years ended December 31, 2020 2019, The Company recognizes as expense, the grant-date fair value of stock options and other stock-based compensation issued to employees and non-employee directors over the requisite service periods, which are typically the vesting periods. The Company uses the Black-Scholes-Merton model to estimate the fair value of its stock-based payments. The volatility assumption used in the Black-Scholes-Merton model is based on the calculated historical volatility based on an analysis of reported data for a peer group of companies as well as the Company’s historical volatility. The expected term of options granted by the Company has been determined based upon the simplified method, because the Company does not not not The fair value of options granted were estimated using the Black-Scholes-Merton option pricing model based on the assumptions in the table below: Year ended December 31, 2020 2019 Expected dividend yield 0% 0% Expected volatility 82% - 126% 81% - 92% Risk-free interest rate 0.2% - 1.69% 1.39% - 2.66% Expected life (in years) 3.8 - 6.1 5.5 - 6.1 The following table summarizes the Company’s stock option activity, including grants to non-employees, for the year ended December 31, 2020: Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Options outstanding at December 31, 2019 1,830,958 $ 30.71 7.36 Granted 3,005,964 0.54 Forfeited (293,102 ) 19.08 Cancelled (181,948 ) 35.57 Exercised - - Options Outstanding December 31, 2020 4,361,872 $ 10.49 6.05 The following table summarizes information about stock options outstanding at December 31, 2020: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at December 31, 2020 1,282,678 $ 27.71 4.81 Vested or expected to vest at December 31, 2020 4,141,694 $ 10.89 6.05 Stock options outstanding, exercisable, and vested or expected to vest at December 31, 2020 December 31, 2020. The total intrinsic value of options exercised during 2020 2019 2020 2019 The Company granted 3,005,964 and 623,272 options to employees and non-employees during the years ended December 31, 2020 2019, As of December 31, 2020, |
Note 15 - Restricted Stock Unit
Note 15 - Restricted Stock Units | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement, Restricted Stock Units [Text Block] | 15. Restricted Stock Units In 2019 2020, three not The following is a summary of the RSU activity for the years ended December 31, 2020 2019: Number of Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Unvested December 31, 2018 382,098 $ 20.24 Granted 192,987 31.42 Vested (85,153 ) 25.98 Forfeited (46,005 ) 21.38 Unvested December 31, 2019 443,927 $ 23.88 Granted 3,112,382 0.67 Vested (354,808 ) 19.38 Forfeited (242,402 ) 6.54 Unvested December 31, 2020 2,959,099 $ 1.41 As of December 31, 2020 2019, December 31, 2020, |
Note 16 - Warrants
Note 16 - Warrants | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 16. Warrants On September 26, 2014, first seven None December 31, 2020 2019. On August 14, 2015, first seven December 31, 2020 2019. On April 28, 2017, first 510 October 13, 2017, October 31, 2017. may fifth The exercise prices and the number of shares issuable upon exercise of each of the Series B Warrants are subject to adjustment upon the occurrence of certain events, including, but not The exercisability of the Series B Warrants may On February 24, 2020, As a result of the March 2020 December 31, 2020. February 2021. On March 10, 2020, 17 March 9, 2021, 25,235,970 24,094,899 The Series C Warrants and Series D Warrants are equity classified. The fair value of the Series C Warrants and Series D Warrants on the issuance date was determined using a Black-Scholes Merton model. The unit proceeds were then allocated to the Common Stock, Series A Preferred Stock, Series C Warrants, and Series D Warrants, respectively, based on their relative fair values. As a result, the Company determined that a beneficial conversion feature was created by the difference between the effective conversion price of the preferred stock and the fair value of the Company's Common Stock as of the issuance date. The Company therefore recorded a beneficial conversion feature of $0.4 million as a deemed dividend included in additional paid-in capital and an immediate charge to earnings available to common stockholders for the year ended December 31, 2020. On May 10, 2017, five first December 31, 2020 2019. On September 12, 2017, third twenty-five fifty twenty-five ten February 2018, 2020. December 31, 2019, Number of Warrant Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Weighted Average Fair Value Outstanding at December 31, 2018 333,034 $ 13.39 3.7 $ 3.38 Exercised (15,385 ) 13.00 0 — Reserved for future issuance 1,753,523 1.39 2.2 1.22 Outstanding at December 31, 2019 2,071,172 $ 2.05 2.4 $ 1.34 Granted 50,735,292 0.68 2.4 0.19 Exercised (4,911,764 ) 0.68 0 — Exchanged (2,040,757 ) 1.24 0 — Reserved for future issuance 644,966 0.35 1.3 0.45 Outstanding at December 31, 2020 46,498,909 $ 0.71 2.4 $ 0.20 The aggregate intrinsic value of the common stock warrants in the above table was $0.2 million at each of December 31, 2020 2019. |
Note 17 - Equity Offerings
Note 17 - Equity Offerings | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 17. Equity Offerings At-the-Market Offerings On August 12, 2019, “2019 “2019 2019 3. 2019 December 31, 2019, December 31, 2020. On October 9, 2020, may 2019 “2020 3, February 10, 2020. The following table summarizes the total sales under the 2019 2020 2019 ATM Offering 2019 ATM Offering 2020 ATM Offering For the year ended For the year ended For the year ended December 31, 2019 December 31, 2020 December 31, 2020 Total shares of common stock sold 1,374,686 6,687,846 16,320,793 Average price per share $ 5.23 $ 1.73 $ 0.58 Gross proceeds $ 7,193 $ 11,558 $ 9,264 Commissions earned by Cantor $ 212 $ 347 $ 278 Net Proceeds $ 6,981 $ 11,211 $ 8,986 From January 1, 2021 January 26, 2021, 2020 Public Offerings of Securities On March 10, 2020, March 2020 one one one first one one fifth one one one one no not The shares of Series A Preferred Stock rank on par with the shares of the common stock, in each case, as to dividend rights and distributions of assets upon liquidation, dissolution or winding up of the Company. With certain statutory exceptions, as described in the Series A Preferred Stock Certificate of Designation, the shares of Series A Preferred Stock have no one June 30, 2020. December 31, 2020. The net proceeds to the Company from the March 2020 June 30, 2020. 4.9 December 31, 2020, 3, May 2020. 1 May 27, 2020. On July 6, 2020, 16 Firm Commitment Offering On September 4, 2019, 2019 30 not Lincoln Park Purchase Agreement On February 10, 2020, 2020 2020 2020 2020 No June 2020. |
Note 18 - Restructuring
Note 18 - Restructuring | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 18. Restructuring During the fourth 2019, December 31, 2019. December 31, 2020, 2020. December 31, 2020, Restructuring Liability (In thousands) Balance at December 31, 2019 $ 882 Amount charged to operating expenses 851 Cash payments (1,733 ) Balance at December 31, 2020 $ — |
Note 19 - Basic and Diluted Net
Note 19 - Basic and Diluted Net Loss Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 19. Basic and Diluted Net Loss per Share Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed giving effect to all potential dilutive common shares that were outstanding during the period when the effect is dilutive. Potential dilutive common shares consist of incremental shares issuable upon exercise of stock options, restricted stock units, warrants and preferred stock. For the year ended December 31, 2020, No December 31, 2020 2019 Potential common shares not December 31 2020 2019 Stock options 4,361,872 1,830,958 Stock warrants 46,498,909 2,071,172 Nonvested restricted stock units 2,959,099 443,927 Total 53,819,880 4,346,057 |
Note 20 - Related Person Transa
Note 20 - Related Person Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 20. Related Person Transactions A member of the Company's Board of Directors is an executive officer of Sofar S.p.A. Various equipment was purchased by the Company from Sofar S.p.A. and totaled approximately $74,000 and $26,000 for the years ended December 31, 2020 2019, In March 2018, 1 1 December 31, 2020 2019, |
Note 21 - Commitments and Conti
Note 21 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 21. Commitments and Contingencies Contingent Consideration As discussed in Note 3, September 2015, may December 30, 2016, € 5.0 € 5.0 December 31, 2020 2019, Legal Proceedings No December 31, 2020 2019. Operating Leases On January 1, 2019, No. 2016 02, not not January 1, 2019, 2016 02, no 2016 02. Many of the Company’s leases include base rental periods coupled with options to renew or terminate the lease, generally at the Company’s discretion. In evaluating the lease term, the Company considers whether renewal is reasonably certain. To the extent a significant economic incentive exists to renew the lease, the option is included within the lease term. Based on the Company’s leases, renewal options generally do not December 31, 2020 December 31, 2019, As of December 31, 2020, December 31, 2020 December 31, 2020 December 31, 2020 As of December 31, 2019, December 31, 2019 December 31, 2019 December 31, 2019 The following table presents the minimum lease payments as of December 31, 2020 ( Fiscal Year 2021 $ 883 2022 404 2023 120 2024 5 2025 — Thereafter — Total minimum lease payments $ 1,412 Less: Amount of lease payments representing interest (151 ) Present value of future minimum lease payments $ 1,261 The following table presents the minimum lease payments as of December 31, 2019 ( Fiscal Year 2020 $ 1,372 2021 716 2022 454 2023 207 2024 28 Thereafter — Total minimum lease payments $ 2,778 Less: Amount of lease payments representing interest (266 ) Present value of future minimum lease payments $ 2,512 On November 2, 2009, five April 2010. June 12, 2014, 3 2 May 1, 2015 June 30, 2018, three January 8, 2018, eighteen July 1, 2018 December 31, 2019, five June 10, 2019, twelve January 1, 2020 December 31, 2020, no three March 31, 2021. In July 2020, first 2021, two five five 125 On May 12, 2016, six July 2016. April 15, 2019, five April 2019. April 25, 2018, five April 2018. July 1, 2018, five July 2018. December 31, 2020 2019, License and Supply Agreements As discussed in Note 3, September 2015, 2021, 2022, 2023, 2024, 2027. not The Company has placed orders with various suppliers for the purchase of certain tooling, supplies and contract engineering and research services. Each of these orders has a duration or expected completion within the next twelve |
Note 22 - Subsequent Events
Note 22 - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 22. Subsequent Events Financings On January 12, 2021, On January 29, 2021, February 1, 2021, As of the date of this filing Series B, C and D warrants have been exercised during 2021 $30.4 From January 1, 2021 2020 2020 January 26, 2021. Total shares of common stock sold 19,120 Average price per share $ 1.47 Gross proceeds $ 28,100 Commissions earned by Cantor $ 843 Net Proceeds $ 27,257 Name change Effective on February 23, 2021, March 5, 2021, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include the accounts of the Company and its direct and indirect wholly owned subsidiaries. All material inter-company accounts and transactions have been eliminated in consolidation. On December 11, 2019, one December 12, 2019. No Unless otherwise noted, all share and per share data referenced in the consolidated financial statements and the notes thereto have been retroactively adjusted to reflect the Reverse Stock Split. As a result of the Reverse Stock Split, certain amounts in the consolidated financial statements and the notes thereto may |
Substantial Doubt about Going Concern [Policy Text Block] | Liquidity The Company had an accumulated deficit of $722.9 million, working capital of $23.7 million, and cash and cash equivalents, excluding restricted cash, of $16.4 million as of December 31, 2020. not The Company believes the COVID- 19 December 31, 2020, December 31, 2020, January 2021 January 2021 2020 2021 $30.4 December 31, 2020 January 2021 12 may |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include impairment considerations for intangible assets, fair value estimates related to contingent consideration, warrant liabilities, stock compensation expense, revenue recognition, accounts receivable reserves, excess and obsolete inventory reserves, inventory classification between current and non-current, and deferred tax asset valuation allowances. The COVID- 19 19 19 19 19 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with original maturities of 90 Restricted cash at December 31, 2020 2019 2018. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations and Credit Risk The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents, including amounts held in money market accounts. The Company places cash deposits with a federally insured financial institution. The Company maintains its cash at banks and financial institutions it considers to be of high credit quality; however, the Company’s domestic cash deposits may may not not not The Company’s accounts receivable are derived from sales to customers located throughout the world. The Company evaluates its customers’ financial condition and, generally, requires no December 31, 2020 December 31, 2019. December 31, 2020. eight December 31, 2019. nine 2020 six 2019. |
Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are recorded at net realizable value, which includes an allowance for estimated uncollectible accounts. The allowance for uncollectible accounts was determined on a customer specific basis based on deemed collectability. The allowance for doubtful accounts was $1.8 million and $1.7 December 31, 2020 December 31, 2019, |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost (determined on a first first not Any inventory on hand at the measurement date in excess of the Company's current requirements based on anticipated levels of sales is classified as long-term on the Company's consolidated balance sheets. The Company's classification of long-term inventory requires it to estimate the portion of on hand inventory that can be realized over the upcoming twelve |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Identifiable Intangible Assets and Goodwill Definite-Lived Intangible Assets - Intellectual Property Intellectual property consists of purchased patent rights and developed technology acquired as part of a business acquisition. Developed technology includes reclassified IPR&D assets related to (i) the Senhance System acquired in 2015 2017 2018 2020. The Company periodically evaluates intellectual property for impairment whenever events or changes in circumstances indicate that the carrying amount may not No December 31, 2020 2019. Indefinite-Lived Intangible Assets In-Process Research and Development In-process research and development (“IPR&D”) assets represent the fair value assigned to technologies that were acquired, which at the time of acquisition have not no The Company reclassifies IPR&D assets to intellectual property when development is complete, which generally occurs upon regulatory approval when the Company is able to commercialize products. The completed IPR&D assets are then classified as definite-lived intangible assets (developed technology) and are amortized based on their estimated useful lives at that point in time. If development is terminated or abandoned, the Company may The Company performed an impairment test of its IPR&D at the end of the third 2019 third 2019, December 31, 2019 no December 31, 2020, As of December 31, 2020, no Goodwill Goodwill of $93.8 million was recorded in connection with a September 2013 3 third 2019, As of December 31, 2020, no |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment consists primarily of operating lease Senhance System assets, machinery, manufacturing equipment, demonstration equipment, computer equipment, furniture, and leasehold improvements, which are recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets as follows: Years Operating lease assets – Senhance System leasing 5 Machinery, manufacturing, and demonstration equipment 3 - 5 Computer equipment 3 Furniture 5 Leasehold improvements Lesser of lease term or 3 to 10 Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation and amortization are removed from the accounts and any resulting gain or loss is credited or charged to operations. Repairs and maintenance costs are expensed as incurred. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company reviews its property and equipment assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not not December 31, 2020 2019. |
Contingent Consideration [Policy Text Block] | Contingent Consideration Contingent consideration is recorded as a liability and is the estimate of the fair value of potential milestone payments related to business acquisitions. Contingent consideration is measured at fair value using a discounted cash flow model utilizing significant unobservable inputs including the probability of achieving each of the potential milestones, future Euro-to-USD exchange rates, and an estimated discount rate associated with the risks of the expected cash flows attributable to the various milestones. Significant increases or decreases in any of the probabilities of success or changes in expected achievement of any of these milestones would result in a significantly higher or lower fair value of these milestones, respectively, and commensurate changes to the associated liability. The contingent consideration is revalued at each reporting period and changes in fair value are recognized in the consolidated statements of operations and comprehensive loss. |
Warrant Liabilities [Policy Text Block] | Warrant Liabilities The Company’s Series B Warrants (see Note 16 5 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of Foreign Currencies The functional currency of the Company’s operational foreign subsidiaries is predominantly the Euro. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for a subsidiary using a functional currency other than the U.S. dollar is included in accumulated other comprehensive income or loss as a separate component of stockholders’ equity. The Company’s intercompany accounts are denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in accumulated other comprehensive income or loss as a separate component of stockholders’ equity, while gains and losses resulting from the remeasurement of intercompany receivables from a foreign subsidiary for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statements of operations and comprehensive loss. The net gains and losses included in net loss in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2020 2019 not |
Business Combinations Policy [Policy Text Block] | Business Acquisitions Business acquisitions are accounted for using the acquisition method of accounting in accordance with ASC 805, 805 820, 805 805, Significant judgments are used during this process, particularly with respect to intangible assets. Therefore, the purchase price allocation to intangible assets and goodwill has a significant impact on future operating results. |
Risk And Uncertainties, Policy [Policy Text Block] | Risk and Uncertainties The Company is subject to risks similar to other similarly sized companies in the medical device industry. These risks include, without limitation: potential negative impacts on the Company's operations caused by the COVID- 19 |
Revenue [Policy Text Block] | Revenue Recognition The Company’s revenue consists of product revenue resulting from the sale and lease of Systems, System components, instruments and accessories, and service revenue. The Company accounts for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. The Company's revenues are measured based on consideration specified in the contract with each customer, net of any sales incentives and taxes collected from customers that are remitted to government authorities. The Company’s System sale arrangements generally include a five first four The Company’s System sale arrangements generally contain multiple products and services. For these consolidated sale arrangements, the Company accounts for individual products and services as separate performance obligations if they are distinct, which is if a product or service is separately identifiable from other items in the consolidated package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company’s System sale arrangements may For arrangements that contain multiple performance obligations, revenue is allocated to each performance obligation based on its relative estimated standalone selling price. When available, standalone selling prices are based on observable prices at which the Company separately sells the products or services; however due to limited sales to date, standalone selling prices generally are not not The Company recognizes revenues as the performance obligations are satisfied by transferring control of the product or service to a customer. The Company generally recognizes revenue for the performance obligations as follows: ● System sales. For Systems and System components sold directly to end customers, revenue is recognized when the Company transfers control to the customer, which is generally at the point when acceptance occurs that indicates customer acknowledgment of delivery or installation, depending on the terms of the arrangement. For Systems sold through distributors, for which distributors are responsible for installation, revenue is recognized generally at the time of shipment. The Company’s System arrangements generally do not one not ● Instruments and accessories. Revenue from sales of instruments and accessories is recognized when control is transferred to the customers, which generally occurs at the time of shipment, but also occurs at the time of delivery depending on the customer arrangement. ● Service. Service revenue is recognized ratably over the term of the service period as the customers benefit from the service throughout the service period. Revenue related to services performed on a time-and-materials basis is recognized when performed. The following table presents revenue disaggregated by type and geography: Year Ended December 31, 2020 2019 (in thousands) U.S. Systems $ 282 $ 90 Instruments and accessories 187 108 Services 380 338 Total U.S. revenue 849 536 Outside of U.S. ("OUS") Systems 490 5,459 Instruments and accessories 653 1,447 Services 1,183 1,089 Total OUS revenue 2,326 7,995 Total Systems 772 5,549 Instruments and accessories 840 1,555 Services 1,563 1,427 Total revenue $ 3,175 $ 8,531 The Company recognizes sales by geographic area based on the country in which the customer is based. Operating lease revenue from Senhance System Leasing (see discussion below) is included as Systems in the above table and was approximately $0.7 million and $0 million for the years ended December 31, 2020 2019, Transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not December 31, 2020 2019, The Company invoices its customers based on the billing schedules in its sales arrangements. Contract assets for the periods presented primarily represent the difference between the revenue that was recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. Contract assets are included in accounts receivable and totaled $0.1 million and $0.2 million as of December 31, 2020 2019, not December 31, 2020 2019, December 31, 2019 2017 first second 2019. December 31, 2020 one three In connection with assets recognized from the costs to obtain a contract with a customer, the Company determined that the sales incentive programs for its sales team do not not |
Revenue Recognition Leases, Operating [Policy Text Block] | Senhance System Leasing The Company enters into lease arrangements with certain qualified customers. Revenue related to arrangements including lease elements are allocated to lease and non-lease elements based on their relative standalone selling prices. Lease elements generally include a Senhance System, while non-lease elements generally include training and proctoring services, instruments, and accessories. For some lease arrangements, the customers are provided with the right to purchase the leased System at some point during and/or at the end of the lease term. In some arrangements lease payments are based on the usage of the System. In determining whether a transaction should be classified as a sales-type or operating lease, the Company considers the following terms at lease commencement: ( 1 2 3 4 5 no December 31, 2020 Revenue related to lease elements from operating lease arrangements is generally recognized on a straight-line basis over the lease term or based upon System usage and is presented as product revenue. Revenue related to lease elements from operating lease arrangements was approximately $0.7 million and $0 million for the years ended December 31, 2020 2019, |
Cost of Goods and Service [Policy Text Block] | Cost of Revenue Cost of revenue consists of contract manufacturing, materials, labor and manufacturing overhead incurred internally to produce the products. Shipping and handling costs incurred by the Company are included in cost of revenue. During the years ended December 31, 2020 2019, |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs Research and development expenses primarily consist of engineering, product development and regulatory expenses, incurred in the design, development, testing and enhancement of our products. Research and development costs are expensed as incurred. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company follows ASC 718 not not not The fair value of restricted stock units is determined by the market price of the Company’s common stock on the date of grant. The Company records as expense the fair value of stock-based compensation awards, including stock options and restricted stock units. Compensation expense for stock-based compensation was approximately $7.9 million and $11.5 million for the years ended December 31, 2020 2019, |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets or liabilities for the temporary differences between financial reporting and tax basis of the Company’s assets and liabilities, and for tax carryforwards at enacted statutory rates in effect for the years in which the asset or liability is expected to be realized. The effect on deferred taxes of a change in tax rates is recognized in income during the period that includes the enactment date. In addition, valuation allowances are established when necessary to reduce deferred tax assets and liabilities to the amounts expected to be realized. The Company has elected to account for global intangible low-taxed income (“GILTI”) as a period expense in the year the tax is incurred. The Company recognizes the financial statement benefit of an income tax position only after determining that the relevant taxing authority would more likely than not not 50% Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require application of significant judgment. The Company is subject to U.S. federal and various state, local and foreign jurisdictions. Due to the Company’s net operating loss carryforwards, the Company may In a referendum held on May 19, 2019, not 2020 2019 On March 27, 2020, 19 June 5, 2020 may |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. |
Segment Reporting, Policy [Policy Text Block] | Segments The Company operates in one not Approximately 27% and 19% of the Company’s total consolidated assets are located within the U.S. as of December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019, |
New Accounting Pronouncements, Policy [Policy Text Block] | Impact of Recently Issued Accounting Standards In August 2018, 2018 13, Fair Value Measurement (Topic 820 Changes to the Disclosure Requirements for Fair Value Measurement. January 1, 2020 not In December 2019, 2019 12, Simplifying the Accounting for Income Taxes 2019 12 740, 2019 12 December 15, 2020, not In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2022, not In August 2020, 2020 06 Debt Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (subtopic 815 40 December 15, 2023, The Company has evaluated all other issued and unadopted ASUs and believes the adoption of these standards will not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Property Plant and Equipment Useful Life [Table Text Block] | Years Operating lease assets – Senhance System leasing 5 Machinery, manufacturing, and demonstration equipment 3 - 5 Computer equipment 3 Furniture 5 Leasehold improvements Lesser of lease term or 3 to 10 |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, 2020 2019 (in thousands) U.S. Systems $ 282 $ 90 Instruments and accessories 187 108 Services 380 338 Total U.S. revenue 849 536 Outside of U.S. ("OUS") Systems 490 5,459 Instruments and accessories 653 1,447 Services 1,183 1,089 Total OUS revenue 2,326 7,995 Total Systems 772 5,549 Instruments and accessories 840 1,555 Services 1,563 1,427 Total revenue $ 3,175 $ 8,531 |
Note 4 - Cash, Cash Equivalen_2
Note 4 - Cash, Cash Equivalents, and Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, and Restricted Cash [Table Text Block] | December 31, 2020 December 31, 2019 (In thousands) Cash $ 6,679 $ 9,596 Money market 9,684 2 Total cash and cash equivalents $ 16,363 $ 9,598 Restricted cash 1,166 969 Total $ 17,529 $ 10,567 |
Note 5 - Fair Value (Tables)
Note 5 - Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2020 (In thousands) Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets measured at fair value Cash and cash equivalents $ 16,363 $ — $ — $ 16,363 Restricted cash 1,166 — — 1,166 Total Assets measured at fair value $ 17,529 $ — $ — $ 17,529 Liabilities measured at fair value Contingent consideration $ — $ — $ 3,936 $ 3,936 Warrant liabilities — — 255 255 Total liabilities measured at fair value $ — $ — $ 4,191 $ 4,191 December 31, 2019 (In thousands) Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets measured at fair value Cash and cash equivalents $ 9,598 $ — $ — $ 9,598 Restricted cash 969 — — 969 Total Assets measured at fair value $ 10,567 $ — $ — $ 10,567 Liabilities measured at fair value Contingent consideration $ — $ — $ 1,084 $ 1,084 Warrant liabilities — — 2,388 2,388 Total liabilities measured at fair value $ — $ — $ 3,472 $ 3,472 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Series B December 31, 2020 December 31, 2019 Fair value (million) $ 0.3 $ 2.4 Valuation methodology Black-Scholes-Merton Monte Carlo Term (years) 1.32 2.32 Risk free rate 0.10 % 1.59 % Dividends — — Volatility 150.97 % 109.80 % Share price $ 0.63 $ 1.47 Probability of additional financing N/A 100% in 2020 Valuation Methodology Significant Unobservable Input Weighted Average (range, if applicable) December 31, 2020 December 31, 2019 Contingent consideration Probability weighted Milestone dates 2024 to 2029 2020 to 2024 Discount rate 9.5% to 15.75% 10% to 11% |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurement at Reporting Date (Level 3) (In thousands) Common stock Contingent Balance at December 31, 2018 $ 4,636 $ 10,637 Change in fair value (2,248 ) (9,553 ) Balance at December 31, 2019 2,388 1,084 Exchange of warrants for common stock (2,469 ) — Payment for contingent consideration — (74 ) Change in fair value 336 2,924 Balance at December 31, 2020 255 3,936 Current portion — — Long-term portion 255 3,936 Balance at December 31, 2020 $ 255 $ 3,936 |
Note 6 - Accounts Receivable,_2
Note 6 - Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2020 December 31, 2019 (In thousands) Gross accounts receivable $ 2,917 $ 2,274 Allowance for uncollectible accounts (1,802 ) (1,654 ) Total accounts receivable, net $ 1,115 $ 620 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2020 December 31, 2019 (In thousands) Finished goods $ 10,749 $ 9,737 Raw materials 8,098 8,510 Total inventories $ 18,847 $ 18,247 Current Portion $ 10,034 $ 10,653 Long-term portion 8,813 7,594 Total inventories $ 18,847 $ 18,247 |
Note 8 - Other Current Assets (
Note 8 - Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Other Current Assets [Table Text Block] | December 31, 2020 December 31, 2019 (In thousands) Advances to vendors $ 1,925 $ 2,534 Prepaid expenses 1,706 1,834 VAT receivable 2,870 2,716 Total $ 6,501 $ 7,084 |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2020 December 31, 2019 (In thousands) Machinery, manufacturing and demonstration equipment $ 10,153 $ 9,711 Operating lease assets - Senhance System leasing 9,203 710 Computer equipment 2,297 2,321 Furniture 640 637 Leasehold improvements 2,309 2,295 Total property and equipment 24,602 15,674 Accumulated depreciation and amortization (14,260 ) (10,968 ) Property and equipment, net $ 10,342 $ 4,706 |
Note 10 - Goodwill, In-proces_2
Note 10 - Goodwill, In-process Research and Development and Intellectual Property (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Goodwill (In thousands) Balance at December 31, 2018 $ 80,131 Foreign currency translation impact (1,162 ) Impairment (78,969 ) Balance at December 31, 2019 $ — |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | In-Process Research and Development (In thousands) Balance at December 31, 2018 $ 10,747 Impairment (7,912 ) Foreign currency translation impact (365 ) Balance at December 31, 2019 2,470 Impairment — Foreign currency translation impact (45 ) Transfer of in-process research and development to intellectual property (2,425 ) Balance at December 31, 2020 $ — December 31, 2020 December 31, 2019 (In thousands) (In thousands) Gross Carrying Amount Accumulated Amortization Foreign currency translation impact Net Carrying Amount Gross Carrying Amount Accumulated Amortization Foreign currency translation impact Net Carrying Amount Developed technology $ 68,838 $ (51,734 ) $ 4,872 $ 21,976 $ 66,413 $ (36,918 ) $ (1,208 ) $ 28,287 Technology and patents purchased 400 (168 ) 59 291 400 (112 ) 21 309 Total intellectual property $ 69,238 $ (51,902 ) $ 4,931 $ 22,267 $ 66,813 $ (37,030 ) $ (1,187 ) $ 28,596 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, 2020 (In thousands) 2021 $ 11,634 2022 8,833 2023 430 2024 430 2025 430 Thereafter 510 Total $ 22,267 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2020 2019 Current income taxes Federal $ — $ — State — — Foreign 169 100 Deferred income taxes Federal — — State — — Foreign (1,685 ) (3,224 ) Total income tax expense (benefit) $ (1,516 ) $ (3,124 ) |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2020 2019 United States $ (34,398 ) $ (91,935 ) Foreign (26,430 ) (65,390 ) Total loss from operations before taxes $ (60,828 ) $ (157,325 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2020 2019 Deferred tax assets: Stock-based compensation $ 4,253 $ 3,665 Accrued expenses and other 906 1,007 Research credit carryforward 7,209 6,776 Fixed assets 385 345 Capitalized start-up costs and other intangibles 2,686 3,618 Net operating loss carryforwards 122,193 113,410 137,632 128,821 Valuation allowance (132,928 ) (123,108 ) Net deferred tax asset 4,704 5,713 Deferred tax liabilities Fixed assets and other (1,590 ) (1,445 ) Purchase accounting intangibles (2,807 ) (5,660 ) Net deferred tax liability (4,397 ) (7,105 ) Net deferred tax asset (liability) $ 307 $ (1,392 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2020 2019 Beginning balance $ 1,512 $ 1,363 Gross increases for tax positions related to current periods 108 149 Gross increases for tax positions related to prior periods — — Ending balance $ 1,620 $ 1,512 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2020 2019 Percent of Pretax Percent of Pretax Amount Earnings Amount Earnings United States federal tax at statutory rate $ (12,774 ) 21.0 % $ (33,038 ) 21.0 % State taxes (net of deferred benefit) (1,768 ) 2.9 % (4,778 ) 3.0 % Nondeductible expenses 719 (1.2 %) 709 (0.5 %) Change in fair market value of contingent consideration 717 (1.2 %) (2,342 ) 1.5 % Warrant remeasurement and financing costs 82 (0.1 %) (551 ) 0.4 % Research & Development credits (542 ) 0.9 % (743 ) 0.5 % Change in unrecognized tax benefits 108 (0.2 %) 149 (0.1 %) Foreign tax rate differential 1,589 (2.6 %) 2,590 (1.6 %) Goodwill and investment impairments — (0 %) (6,638 ) 4.2 % Change in enacted tax rates and other, net 533 (0.9 %) (253 ) 0.2 % Change in valuation allowance 9,820 (16.1 %) 41,771 (26.6 %) Income tax benefit $ (1,516 ) 2.5 % $ (3,124 ) 2.0 % |
Note 12 - Accrued Expenses (Tab
Note 12 - Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2020 December 31, 2019 (In thousands) Compensation and benefits $ 4,541 $ 5,061 Restructuring costs — 882 Consulting and other vendors 66 308 Other 177 242 Lease Liability 686 1,112 Royalties 147 148 Legal and professional fees 314 474 Taxes and other assessments 351 326 Interest 19 — Total $ 6,301 $ 8,553 |
Note 14 - Stock-based Compens_2
Note 14 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year ended December 31, 2020 2019 Expected dividend yield 0% 0% Expected volatility 82% - 126% 81% - 92% Risk-free interest rate 0.2% - 1.69% 1.39% - 2.66% Expected life (in years) 3.8 - 6.1 5.5 - 6.1 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Options outstanding at December 31, 2019 1,830,958 $ 30.71 7.36 Granted 3,005,964 0.54 Forfeited (293,102 ) 19.08 Cancelled (181,948 ) 35.57 Exercised - - Options Outstanding December 31, 2020 4,361,872 $ 10.49 6.05 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at December 31, 2020 1,282,678 $ 27.71 4.81 Vested or expected to vest at December 31, 2020 4,141,694 $ 10.89 6.05 |
Note 15 - Restricted Stock Un_2
Note 15 - Restricted Stock Units (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Unvested December 31, 2018 382,098 $ 20.24 Granted 192,987 31.42 Vested (85,153 ) 25.98 Forfeited (46,005 ) 21.38 Unvested December 31, 2019 443,927 $ 23.88 Granted 3,112,382 0.67 Vested (354,808 ) 19.38 Forfeited (242,402 ) 6.54 Unvested December 31, 2020 2,959,099 $ 1.41 |
Note 16 - Warrants (Tables)
Note 16 - Warrants (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Warrant Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Weighted Average Fair Value Outstanding at December 31, 2018 333,034 $ 13.39 3.7 $ 3.38 Exercised (15,385 ) 13.00 0 — Reserved for future issuance 1,753,523 1.39 2.2 1.22 Outstanding at December 31, 2019 2,071,172 $ 2.05 2.4 $ 1.34 Granted 50,735,292 0.68 2.4 0.19 Exercised (4,911,764 ) 0.68 0 — Exchanged (2,040,757 ) 1.24 0 — Reserved for future issuance 644,966 0.35 1.3 0.45 Outstanding at December 31, 2020 46,498,909 $ 0.71 2.4 $ 0.20 |
Note 17 - Equity Offerings (Tab
Note 17 - Equity Offerings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Sales Under Sales Agency Agreement [Table Text Block] | 2019 ATM Offering 2019 ATM Offering 2020 ATM Offering For the year ended For the year ended For the year ended December 31, 2019 December 31, 2020 December 31, 2020 Total shares of common stock sold 1,374,686 6,687,846 16,320,793 Average price per share $ 5.23 $ 1.73 $ 0.58 Gross proceeds $ 7,193 $ 11,558 $ 9,264 Commissions earned by Cantor $ 212 $ 347 $ 278 Net Proceeds $ 6,981 $ 11,211 $ 8,986 |
Note 18 - Restructuring (Tables
Note 18 - Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Restructuring Liability (In thousands) Balance at December 31, 2019 $ 882 Amount charged to operating expenses 851 Cash payments (1,733 ) Balance at December 31, 2020 $ — |
Note 19 - Basic and Diluted N_2
Note 19 - Basic and Diluted Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | December 31 2020 2019 Stock options 4,361,872 1,830,958 Stock warrants 46,498,909 2,071,172 Nonvested restricted stock units 2,959,099 443,927 Total 53,819,880 4,346,057 |
Note 21 - Commitments and Con_2
Note 21 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal Year 2021 $ 883 2022 404 2023 120 2024 5 2025 — Thereafter — Total minimum lease payments $ 1,412 Less: Amount of lease payments representing interest (151 ) Present value of future minimum lease payments $ 1,261 Fiscal Year 2020 $ 1,372 2021 716 2022 454 2023 207 2024 28 Thereafter — Total minimum lease payments $ 2,778 Less: Amount of lease payments representing interest (266 ) Present value of future minimum lease payments $ 2,512 |
Note 22 - Subsequent Events (Ta
Note 22 - Subsequent Events (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Sales Under Sales Agency Agreement [Table Text Block] | 2019 ATM Offering 2019 ATM Offering 2020 ATM Offering For the year ended For the year ended For the year ended December 31, 2019 December 31, 2020 December 31, 2020 Total shares of common stock sold 1,374,686 6,687,846 16,320,793 Average price per share $ 5.23 $ 1.73 $ 0.58 Gross proceeds $ 7,193 $ 11,558 $ 9,264 Commissions earned by Cantor $ 212 $ 347 $ 278 Net Proceeds $ 6,981 $ 11,211 $ 8,986 |
The 2020 ATM Offering [Member] | |
Notes Tables | |
Schedule of Sales Under Sales Agency Agreement [Table Text Block] | Total shares of common stock sold 19,120 Average price per share $ 1.47 Gross proceeds $ 28,100 Commissions earned by Cantor $ 843 Net Proceeds $ 27,257 |
Note 1 - Organization and Cap_2
Note 1 - Organization and Capitalization (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 36 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 06, 2013 | Dec. 05, 2013 | |
Common Stock, Shares Authorized (in shares) | 750,000,000 | 750,000,000 | 750,000,000 | 225,000,000 | |
Preferred Stock, Shares Authorized (in shares) | 25,000,000 | 25,000,000 | 25,000,000 | ||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | ||
China National Scientific and Instruments and Materials Company [Member] | |||||
Proceeds from Distribution Agreement | $ 15 | ||||
Distribution Agreement, Minimum Royalties Receivable Upon Regulatory Approval | $ 14 | ||||
China National Scientific and Instruments and Materials Company [Member] | Minimum [Member] | |||||
Expected Proceeds from Distribution Agreement | $ 29 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies 1 (Details Textual) $ in Thousands | Jan. 29, 2021USD ($) | Jan. 12, 2021USD ($) | Dec. 11, 2019shares | Jan. 31, 2021USD ($) | Mar. 11, 2021USD ($) | Dec. 31, 2019USD ($)shares | Sep. 30, 2019USD ($) | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 10, 2019shares | Dec. 31, 2018USD ($) | Sep. 23, 2018USD ($) | Sep. 21, 2015USD ($) | Sep. 03, 2013USD ($) |
Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares | 20,200,000 | 20,691,301 | 116,231,072 | 20,691,301 | 261,900,000 | |||||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (663,600) | $ (722,912) | $ (663,600) | |||||||||||
Working Capital | 23,700 | |||||||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 9,598 | 16,363 | 9,598 | |||||||||||
Proceeds from Warrant Exercises | 3,340 | 538 | ||||||||||||
Restricted Cash and Cash Equivalents, Noncurrent, Total | 969 | 1,166 | 969 | |||||||||||
Accounts Receivable, Credit Loss Expense (Reversal) | 0 | 1,634 | ||||||||||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 1,654 | 1,802 | 1,654 | |||||||||||
Impairment of Intangible Assets, Finite-lived | 0 | 7,912 | ||||||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | 28,596 | 22,267 | 28,596 | |||||||||||
Goodwill, Ending Balance | 0 | 0 | $ 80,131 | |||||||||||
Goodwill, Impairment Loss | 79,000 | $ 79,000 | $ 0 | 78,969 | ||||||||||
Period Of Service Sale Arrangement (Year) | 5 years | |||||||||||||
Period of Service Sale Arrangement at Stated Service Price (Year) | 4 years | |||||||||||||
Operating Lease, Lease Income, Total | $ 700 | 0 | ||||||||||||
Revenue, Remaining Performance Obligation, Amount | 3,700 | 3,100 | 3,700 | |||||||||||
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total | 200 | 100 | 200 | |||||||||||
Contract with Customer, Liability, Revenue Recognized | 600 | 1,000 | ||||||||||||
Inventory Write-down | 0 | 8,931 | ||||||||||||
Share-based Payment Arrangement, Expense | $ 7,900 | 11,500 | ||||||||||||
Number of Operating Segments | 1 | |||||||||||||
Assets, Total | 74,779 | $ 78,258 | 74,779 | |||||||||||
Non-US [Member] | ||||||||||||||
Assets, Total | 60,500 | 56,800 | 60,500 | |||||||||||
System Sold in 2017 [Member] | ||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 1,300 | |||||||||||||
Systems [Member] | ||||||||||||||
Inventory Write-down | $ 0 | 1,500 | ||||||||||||
Safe Stitch Medical Inc [Member] | ||||||||||||||
Goodwill, Ending Balance | $ 93,800 | |||||||||||||
Senhance Surgical Robotic System Acquisition [Member] | ||||||||||||||
Goodwill, Ending Balance | $ 38,300 | |||||||||||||
Medical Surgery Technologies Limited [Member] | ||||||||||||||
Goodwill, Ending Balance | $ 9,600 | |||||||||||||
Patents [Member] | ||||||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||||||||||
Developed Technology Rights [Member] | ||||||||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | 28,287 | $ 21,976 | 28,287 | |||||||||||
Developed Technology Rights [Member] | Minimum [Member] | ||||||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | |||||||||||||
Developed Technology Rights [Member] | Maximum [Member] | ||||||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |||||||||||||
Intellectual Property [Member] | ||||||||||||||
Impairment of Intangible Assets, Finite-lived | $ 0 | 0 | ||||||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | 28,596 | 22,267 | 28,596 | |||||||||||
In Process Research and Development [Member] | ||||||||||||||
Impairment of Intangible Assets, Finite-lived | 0 | $ 7,900 | 0 | (7,912) | ||||||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 2,470 | $ 0 | $ 2,470 | $ 10,747 | ||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Seven Customers [Member] | ||||||||||||||
Number of Major Customers | 7 | |||||||||||||
Concentration Risk, Percentage | 68.00% | |||||||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Eight Customers [Member] | ||||||||||||||
Number of Major Customers | 8 | |||||||||||||
Concentration Risk, Percentage | 85.00% | |||||||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Nine Customers [Member] | ||||||||||||||
Number of Major Customers | 9 | |||||||||||||
Concentration Risk, Percentage | 55.00% | |||||||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Six Customers [Member] | ||||||||||||||
Number of Major Customers | 6 | |||||||||||||
Concentration Risk, Percentage | 82.00% | |||||||||||||
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | UNITED STATES | ||||||||||||||
Concentration Risk, Percentage | 27.00% | 6.00% | ||||||||||||
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Europe [Member] | ||||||||||||||
Concentration Risk, Percentage | 53.00% | 39.00% | ||||||||||||
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Asia [Member] | ||||||||||||||
Concentration Risk, Percentage | 20.00% | 55.00% | ||||||||||||
Assets, Total [Member] | Geographic Concentration Risk [Member] | UNITED STATES | ||||||||||||||
Concentration Risk, Percentage | 27.00% | 19.00% | ||||||||||||
Assets, Total [Member] | Geographic Concentration Risk [Member] | Non-US [Member] | ||||||||||||||
Concentration Risk, Percentage | 73.00% | 81.00% | ||||||||||||
Long-lived Assets [Member] | Geographic Concentration Risk [Member] | UNITED STATES | ||||||||||||||
Concentration Risk, Percentage | 11.00% | 8.00% | ||||||||||||
Long-lived Assets [Member] | Geographic Concentration Risk [Member] | ITALY | ||||||||||||||
Concentration Risk, Percentage | 48.00% | 63.00% | ||||||||||||
Long-lived Assets [Member] | Geographic Concentration Risk [Member] | SWITZERLAND | ||||||||||||||
Concentration Risk, Percentage | 41.00% | 27.00% | ||||||||||||
Subsequent Event [Member] | ||||||||||||||
Proceeds from Warrant Exercises | $ 30,400 | |||||||||||||
Subsequent Event [Member] | Public Offering [Member] | ||||||||||||||
Proceeds from Issuance of Common Stock | $ 73,500 | $ 73,500 | ||||||||||||
Subsequent Event [Member] | Registered Direct Offering [Member] | ||||||||||||||
Proceeds from Issuance of Common Stock | $ 28,800 | 28,800 | ||||||||||||
Subsequent Event [Member] | ATM Offering [Member] | ||||||||||||||
Proceeds from Issuance of Common Stock | $ 28,100 | |||||||||||||
Reverse Stock Split [Member] | ||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 13 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Dec. 31, 2020 |
Minimum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Maximum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 3 years |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Operating Lease Assets [Member] | |
Property and equipment, estimated useful lives (Year) | 5 years |
Machinery, Manufacturing and Demonstration Equipment [Member] | Minimum [Member] | |
Property and equipment, estimated useful lives (Year) | 3 years |
Machinery, Manufacturing and Demonstration Equipment [Member] | Maximum [Member] | |
Property and equipment, estimated useful lives (Year) | 5 years |
Computer Equipment [Member] | |
Property and equipment, estimated useful lives (Year) | 3 years |
Furniture and Fixtures [Member] | |
Property and equipment, estimated useful lives (Year) | 5 years |
Leasehold Improvements [Member] | |
Leasehold improvements | Lesser of lease term or 3 to 10 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Revenue Disaggregated by Type and Geography (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 3,175 | $ 8,531 |
Systems [Member] | ||
Revenue | 772 | 5,549 |
Instruments and Accessories [Member] | ||
Revenue | 840 | 1,555 |
Service [Member] | ||
Revenue | 1,563 | 1,427 |
UNITED STATES | ||
Revenue | 849 | 536 |
UNITED STATES | Systems [Member] | ||
Revenue | 282 | 90 |
UNITED STATES | Instruments and Accessories [Member] | ||
Revenue | 187 | 108 |
UNITED STATES | Service [Member] | ||
Revenue | 380 | 338 |
Non-US [Member] | ||
Revenue | 2,326 | 7,995 |
Non-US [Member] | Systems [Member] | ||
Revenue | 490 | 5,459 |
Non-US [Member] | Instruments and Accessories [Member] | ||
Revenue | 653 | 1,447 |
Non-US [Member] | Service [Member] | ||
Revenue | $ 1,183 | $ 1,089 |
Note 3 - Acquisitions (Details
Note 3 - Acquisitions (Details Textual) $ in Thousands, € in Millions | Oct. 15, 2019USD ($) | Aug. 07, 2019USD ($)shares | Oct. 31, 2018USD ($)shares | Dec. 30, 2016USD ($)shares | Dec. 30, 2016EUR (€)shares | Sep. 21, 2015USD ($)shares | Sep. 21, 2015EUR (€)shares | Dec. 31, 2020EUR (€) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) |
Business Combination, Contingent Consideration, Liability, Total | $ 1,084 | $ 3,936 | ||||||||||
Auto Lap [Member] | ||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 17,000 | |||||||||||
Proceeds from Sale of Productive Assets, Total | 16,000 | |||||||||||
Disposal Group Including Discontinued Operation Consideration Receivable | $ 1,000 | |||||||||||
Gain (Loss) on Disposition of Assets, Total | 16,000 | |||||||||||
Medical Surgery Technologies Limited [Member] | ||||||||||||
Payments to Acquire Businesses, Gross | $ 5,800 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 370,423 | 242,310 | ||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 6,600 | |||||||||||
Senhance Surgical Robotic System Acquisition [Member] | ||||||||||||
Payments to Acquire Businesses, Gross | $ 25,000 | € 22.5 | $ 25,000 | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 286,360 | 286,360 | 1,195,647 | 1,195,647 | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | € | € 5 | |||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | € | € 27.5 | |||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 1,100 | $ 3,900 | ||||||||||
Senhance Surgical Robotic System Acquisition [Member] | Second Tranche [Member] | ||||||||||||
Business Combination, Contingent Consideration, Liability, Total | € | € 15.1 | |||||||||||
Senhance Surgical Robotic System Acquisition [Member] | Third Tranche [Member] | ||||||||||||
Business Combination, Contingent Consideration, Liability, Total | € | € 15 | |||||||||||
Senhance Surgical Robotic System Acquisition [Member] | Third Tranche [Member] | Minimum [Member] | ||||||||||||
Business Combination Contingent Consideration Arrangements Target Revenue | € | € 25 | |||||||||||
Senhance Surgical Robotic System Acquisition [Member] | Fourth Tranche [Member] | ||||||||||||
Business Combination, Contingent Consideration, Liability, Total | € | € 2.5 |
Note 4 - Cash, Cash Equivalen_3
Note 4 - Cash, Cash Equivalents, and Restricted Cash (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 1,166 | $ 969 |
Note 4 - Cash, Cash Equivalen_4
Note 4 - Cash, Cash Equivalents, and Restricted Cash - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cash | $ 6,679 | $ 9,596 |
Money market | 9,684 | 2 |
Total cash and cash equivalents | 16,363 | 9,598 |
Restricted Cash and Cash Equivalents, Noncurrent, Total | 1,166 | 969 |
Total | $ 17,529 | $ 10,567 |
Note 5 - Fair Value (Details Te
Note 5 - Fair Value (Details Textual) $ / shares in Units, $ in Thousands | Dec. 11, 2019 | Apr. 28, 2017$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Sep. 30, 2020$ / shares |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ | $ 2,924 | $ (9,553) | |||
Number of Units Sold (in shares) | 24,900,000 | ||||
Number of Shares in Each Unit (in shares) | 0.077 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1 | ||||
Fair Value Adjustment of Warrants | $ | $ 336 | $ (2,248) | |||
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 13 | ||||
Series A Warrant [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.077 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 13 | ||||
Series B Warrant [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.058 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 13 | $ 0.35 | $ 0.35 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 567,660 |
Note 5 - Fair Value - Summary o
Note 5 - Fair Value - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 16,363 | $ 9,598 |
Restricted cash | 1,166 | 969 |
Total Assets measured at fair value | 17,529 | 10,567 |
Contingent consideration | 3,936 | 1,084 |
Warrant liabilities | 255 | 2,388 |
Total liabilities measured at fair value | 4,191 | 3,472 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 16,363 | 9,598 |
Restricted cash | 1,166 | 969 |
Total Assets measured at fair value | 17,529 | 10,567 |
Contingent consideration | 0 | 0 |
Warrant liabilities | 0 | 0 |
Total liabilities measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total Assets measured at fair value | 0 | 0 |
Contingent consideration | 0 | 0 |
Warrant liabilities | 0 | 0 |
Total liabilities measured at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Restricted cash | 0 | 0 |
Total Assets measured at fair value | 0 | 0 |
Contingent consideration | 3,936 | 1,084 |
Warrant liabilities | 255 | 2,388 |
Total liabilities measured at fair value | $ 4,191 | $ 3,472 |
Note 5 - Fair Value - Quantitat
Note 5 - Fair Value - Quantitative Information about Inputs and Valuation Methodologies Used for Fair Value Measurements Classification (Details) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)yr$ / shares | Dec. 31, 2020USD ($)yr$ / shares | |
Senhance Surgical Robotic System Acquisition [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Milestone Date, Year [Member] | ||
Contingent consideration, measurement input | 2,020 | 2,024 |
Senhance Surgical Robotic System Acquisition [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | ||
Contingent consideration, measurement input | 0.10 | 0.095 |
Senhance Surgical Robotic System Acquisition [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Milestone Date, Year [Member] | ||
Contingent consideration, measurement input | 2,024 | 2,029 |
Senhance Surgical Robotic System Acquisition [Member] | Fair Value, Inputs, Level 3 [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | ||
Contingent consideration, measurement input | 0.11 | 0.1575 |
Series B Warrant [Member] | ||
Fair value (million) | $ | $ 2.4 | $ 0.3 |
Share price (in dollars per share) | $ / shares | $ 1.47 | $ 0.63 |
Probability of additional financing | 100.00% | |
Series B Warrant [Member] | Measurement Input, Expected Term [Member] | ||
Warrants, measurement input (Year) | yr | 2.32 | 1.32 |
Series B Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants, measurement input (Year) | 0.0159 | 0.0010 |
Series B Warrant [Member] | Measurement Input, Expected Dividend Payment [Member] | ||
Warrants, measurement input (Year) | 0 | 0 |
Series B Warrant [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants, measurement input (Year) | 1.0980 | 1.5097 |
Note 5 - Fair Value - Summary_2
Note 5 - Fair Value - Summary of Change in Fair Value for Warrants and Contingent Consideration (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Warrant [Member] | ||
Balance | $ 2,388 | $ 4,636 |
Change in fair value | 336 | (2,248) |
Settlement | (2,469) | |
Balance | 255 | 2,388 |
Current portion | 0 | |
Long-term portion | 255 | |
Contingent Consideration [Member] | ||
Balance | 1,084 | 10,637 |
Change in fair value | 2,924 | (9,553) |
Settlement | (74) | |
Balance | 3,936 | $ 1,084 |
Current portion | 0 | |
Long-term portion | $ 3,936 |
Note 6 - Accounts Receivable,_3
Note 6 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Credit Loss Expense (Reversal) | $ 0 | $ 1,634 |
Note 6 - Accounts Receivable,_4
Note 6 - Accounts Receivable, Net - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Gross accounts receivable | $ 2,917 | $ 2,274 |
Allowance for uncollectible accounts | (1,802) | (1,654) |
Total accounts receivable, net | $ 1,115 | $ 620 |
Note 7 - Inventories (Details T
Note 7 - Inventories (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Other Restructuring Costs | $ 0 | $ 7,400 |
Inventory Write-down | 0 | 8,931 |
Systems [Member] | ||
Inventory Write-down | $ 0 | $ 1,500 |
Note 7 - Inventories - Componen
Note 7 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Finished goods | $ 10,749 | $ 9,737 |
Raw materials | 8,098 | 8,510 |
Total inventories | 18,847 | 18,247 |
Current Portion | 10,034 | 10,653 |
Long-term portion | $ 8,813 | $ 7,594 |
Note 8 - Other Current Assets -
Note 8 - Other Current Assets - Summary of Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Advances to vendors | $ 1,925 | $ 2,534 |
Prepaid expenses | 1,706 | 1,834 |
VAT receivable | 2,870 | 2,716 |
Total | $ 6,501 | $ 7,084 |
Note 9 - Property and Equipme_3
Note 9 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 2,898 | $ 2,166 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, plant and equipment, gross | $ 24,602 | $ 15,674 |
Accumulated depreciation and amortization | (14,260) | (10,968) |
Property and equipment, net | 10,342 | 4,706 |
Machinery, Manufacturing and Demonstration Equipment [Member] | ||
Property, plant and equipment, gross | 10,153 | 9,711 |
Operating Lease Assets [Member] | ||
Property, plant and equipment, gross | 9,203 | 710 |
Computer Equipment [Member] | ||
Property, plant and equipment, gross | 2,297 | 2,321 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 640 | 637 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | $ 2,309 | $ 2,295 |
Note 10 - Goodwill, In-proces_3
Note 10 - Goodwill, In-process Research and Development and Intellectual Property (Details Textual) $ in Thousands | Oct. 31, 2018USD ($) | Sep. 21, 2015USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 23, 2018USD ($) | Sep. 03, 2013USD ($) |
Goodwill, Ending Balance | $ 0 | $ 0 | $ 80,131 | ||||||
Number of Reporting Units | 1 | ||||||||
Goodwill, Impairment Loss | $ 79,000 | $ 79,000 | $ 0 | 78,969 | |||||
Impairment of Intangible Assets, Finite-lived | 0 | 7,912 | |||||||
Intellectual Property [Member] | |||||||||
Impairment of Intangible Assets, Finite-lived | $ 0 | $ 0 | |||||||
Developed Technology Rights [Member] | Weighted Average [Member] | |||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 2 years 2 months 12 days | ||||||||
Technology-Based Intangible Assets [Member] | Weighted Average [Member] | |||||||||
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 6 years 3 months 18 days | ||||||||
In Process Research and Development [Member] | |||||||||
Impairment of Intangible Assets, Finite-lived | $ 7,900 | ||||||||
Safe Stitch Medical Inc [Member] | |||||||||
Goodwill, Ending Balance | $ 93,800 | ||||||||
Senhance Surgical Robotic System Acquisition [Member] | |||||||||
Goodwill, Ending Balance | $ 38,300 | ||||||||
Senhance Surgical Robotic System Acquisition [Member] | Intellectual Property [Member] | |||||||||
Intangible Assets, Net (Excluding Goodwill), Total | $ 17,100 | ||||||||
Discount Rate Used in Discounted Cash Flows | 45.00% | ||||||||
Medical Surgery Technologies Limited [Member] | |||||||||
Goodwill, Ending Balance | $ 9,600 | ||||||||
Medical Surgery Technologies Limited [Member] | In Process Research and Development [Member] | |||||||||
Intangible Assets, Net (Excluding Goodwill), Total | $ 10,600 | ||||||||
Discount Rate Used in Discounted Cash Flows | 15.00% |
Note 10 - Goodwill, In-proces_4
Note 10 - Goodwill, In-process Research and Development and Intellectual Property - Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill balance | $ 0 | $ 80,131 | ||
Foreign currency translation impact | (1,162) | |||
Impairment | $ (79,000) | $ (79,000) | $ 0 | (78,969) |
Goodwill balance | $ 0 | $ 0 |
Note 10 - Goodwill, In-proces_5
Note 10 - Goodwill, In-process Research and Development and Intellectual Property - In-process Research and Development and Intellectual Property (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets, Net | $ 28,596 | |||||
Intangible assets impairment | 0 | $ 7,912 | ||||
Finite-Lived Intangible Assets, Net | $ 28,596 | 22,267 | 28,596 | |||
Finite-Lived Intangible Assets, Gross | $ 69,238 | $ 66,813 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | (51,902) | (37,030) | ||||
Finite-Lived Intangible Assets, Foreign Currency Translation Impact | 4,931 | (1,187) | ||||
Intangible Assets | 28,596 | 28,596 | 28,596 | 22,267 | 28,596 | |
In Process Research and Development [Member] | ||||||
Finite-Lived Intangible Assets, Net | 2,470 | 10,747 | ||||
Intangible assets impairment | 0 | $ 7,900 | 0 | (7,912) | ||
Foreign currency translation impact | (45) | (365) | ||||
Transfer of in-process research and development to intellectual property | (2,425) | |||||
Finite-Lived Intangible Assets, Net | 2,470 | 0 | 2,470 | |||
Intangible Assets | 2,470 | 2,470 | 10,747 | 0 | 2,470 | |
Developed Technology Rights [Member] | ||||||
Finite-Lived Intangible Assets, Net | 28,287 | |||||
Finite-Lived Intangible Assets, Net | 28,287 | 21,976 | 28,287 | |||
Finite-Lived Intangible Assets, Gross | 68,838 | 66,413 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | (51,734) | (36,918) | ||||
Finite-Lived Intangible Assets, Foreign Currency Translation Impact | 4,872 | (1,208) | ||||
Intangible Assets | 28,287 | 28,287 | 28,287 | 21,976 | 28,287 | |
Technology-Based Intangible Assets [Member] | ||||||
Finite-Lived Intangible Assets, Net | 309 | |||||
Finite-Lived Intangible Assets, Net | 309 | 291 | 309 | |||
Finite-Lived Intangible Assets, Gross | 400 | 400 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | (168) | (112) | ||||
Finite-Lived Intangible Assets, Foreign Currency Translation Impact | 59 | 21 | ||||
Intangible Assets | $ 309 | $ 309 | $ 309 | $ 291 | $ 309 |
Note 10 - Goodwill, In-proces_6
Note 10 - Goodwill, In-process Research and Development and Intellectual Property - Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Total | $ 22,267 | $ 28,596 |
Intellectual Property [Member] | ||
2021 | 11,634 | |
2022 | 8,833 | |
2023 | 430 | |
2024 | 430 | |
2025 | 430 | |
Thereafter | 510 | |
Total | $ 22,267 | $ 28,596 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 9,800 | ||
Unrecognized Tax Benefits, Ending Balance | 1,620 | $ 1,512 | $ 1,363 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | |
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | $ 364,300 | ||
Operating Loss Carryforwards, Subject to Expiration | 254,500 | ||
Operating Loss Carryforwards, Not Subject to Expiration | 109,800 | ||
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | |||
Tax Credit Carryforward, Amount | 7,200 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 296,200 | ||
Operating Loss Carryforwards, Subject to Expiration | 289,300 | ||
Operating Loss Carryforwards, Not Subject to Expiration | 6,800 | ||
Foreign Tax Authority [Member] | Ministry of Economic Affairs and Finance, Italy [Member] | |||
Operating Loss Carryforwards, Total | 24,500 | ||
Foreign Tax Authority [Member] | Luxembourg Inland Revenue [Member] | |||
Operating Loss Carryforwards, Subject to Expiration | 95,100 | ||
Foreign Tax Authority [Member] | Swiss Federal Tax Administration (FTA) [Member] | |||
Operating Loss Carryforwards, Subject to Expiration | $ 61,900 |
Note 11 - Income Taxes - Income
Note 11 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal | $ 0 | $ 0 |
State | 0 | 0 |
Foreign | 169 | 100 |
Federal | 0 | 0 |
State | 0 | 0 |
Foreign | (1,685) | (3,224) |
Total income tax expense (benefit) | $ (1,516) | $ (3,124) |
Note 11 - Income Taxes - Domest
Note 11 - Income Taxes - Domestic and Foreign Components of Loss from Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
United States | $ (34,398) | $ (91,935) |
Foreign | (26,430) | (65,390) |
Total loss from operations before taxes | $ (60,828) | $ (157,325) |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Stock-based compensation | $ 4,253 | $ 3,665 |
Accrued expenses and other | 906 | 1,007 |
Research credit carryforward | 7,209 | 6,776 |
Fixed assets | 385 | 345 |
Capitalized start-up costs and other intangibles | 2,686 | 3,618 |
Net operating loss carryforwards | 122,193 | 113,410 |
Deferred Tax Assets, Gross, Total | 137,632 | 128,821 |
Valuation allowance | (132,928) | (123,108) |
Net deferred tax asset | 4,704 | 5,713 |
Fixed assets and other | (1,590) | (1,445) |
Purchase accounting intangibles | (2,807) | (5,660) |
Net deferred tax liability | (4,397) | (7,105) |
Net deferred tax asset | $ 307 | |
Net deferred tax (liability) | $ (1,392) |
Note 11 - Income Taxes - Unreco
Note 11 - Income Taxes - Unrecognized Tax Positions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 1,512 | $ 1,363 |
Gross increases for tax positions related to current periods | 108 | 149 |
Gross increases for tax positions related to prior periods | 0 | 0 |
Ending balance | $ 1,620 | $ 1,512 |
Note 11 - Income Taxes - Effect
Note 11 - Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
United States federal tax at statutory rate | $ (12,774) | $ (33,038) |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
State taxes (net of deferred benefit) | $ (1,768) | $ (4,778) |
State taxes (net of deferred benefit), percent | 2.90% | 3.00% |
Nondeductible expenses | $ 719 | $ 709 |
Nondeductible expenses, percent | (1.20%) | (0.50%) |
Change in fair market value of contingent consideration | $ 717 | $ (2,342) |
Change in fair market value of contingent consideration, percent | (1.20%) | 1.50% |
Warrant remeasurement and financing costs | $ 82 | $ (551) |
Warrant remeasurement and financing costs, percent | (0.10%) | 0.40% |
Research & Development credits | $ (542) | $ (743) |
Research & Development credits, percent | 0.90% | 0.50% |
Change in unrecognized tax benefits | $ 108 | $ 149 |
Change in unrecognized tax benefits, percent | (0.20%) | (0.10%) |
Foreign tax rate differential | $ 1,589 | $ 2,590 |
Foreign tax rate differential, percent | (2.60%) | (1.60%) |
Goodwill and investment impairments | $ 0 | $ (6,638) |
Goodwill and investment impairments, percent | (0.00%) | 4.20% |
Change in enacted tax rates and other, net | $ 533 | $ (253) |
Change in enacted tax rates and other, net, percent | (0.90%) | 0.20% |
Change in valuation allowance | $ 9,820 | $ 41,771 |
Change in valuation allowance, percent | (16.10%) | (26.60%) |
Total income tax expense (benefit) | $ (1,516) | $ (3,124) |
Income tax benefit, percent | 2.50% | 2.00% |
Note 12 - Accrued Expenses - Co
Note 12 - Accrued Expenses - Components of Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Compensation and benefits | $ 4,541 | $ 5,061 |
Restructuring costs | 0 | 882 |
Consulting and other vendors | 66 | 308 |
Other | 177 | 242 |
Royalties | 147 | 148 |
Legal and professional fees | 314 | 474 |
Taxes and other assessments | 351 | 326 |
Interest | 19 | 0 |
Total | 6,301 | 8,553 |
Accrued Expense [Member] | ||
Operating Lease, Liability, Current | $ 686 | $ 1,112 |
Note 13 - Notes Payable (Detail
Note 13 - Notes Payable (Details Textual) - USD ($) | Apr. 27, 2020 | Nov. 04, 2019 | May 23, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Gain (Loss) on Extinguishment of Debt, Total | $ 0 | $ (1,006,000) | |||
Hercules Loan Agreement [Member] | |||||
Extinguishment of Debt, Amount | $ 16,400,000 | ||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 1,400,000 | ||||
Gain (Loss) on Extinguishment of Debt, Total | $ (1,000,000) | ||||
Paycheck Protection Program CARES Act [Member] | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 2,815,200 | ||||
Debt Instrument, Term (Year) | 2 years | ||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | ||||
Hercules Loan Agreement [Member] | |||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 9.55% | ||||
Debt Instrument, Fee Amount | $ 400,000 | ||||
Debt Issuance Costs, Net, Total | $ 1,100,000 | ||||
Percentage of Prepayment Fee, First Year After Initial Funding Date | 3.00% | ||||
Percentage of Prepayment Fee, Second Year After Initial Funding Date | 2.00% | ||||
Percentage of Prepayment Fee, Third Year After Initial Funding Date and Thereafter | 1.00% | ||||
Debt Instrument, Prepayment, Final Fee, Percentage | 6.95% | ||||
Percentage of Outstanding Principal Balance of Term Loan Required to be Maintained | 120.00% | ||||
Percentage of Maintained Cash and Investment Property in Accounts of Aggregate Cash of Parent and Subsidiaries | 80.00% | ||||
Debt Instrument, Collateral Amount | $ 2,000,000 | ||||
Hercules Loan Agreement [Member] | Prime Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 5.00% |
Note 14 - Stock-based Compens_3
Note 14 - Stock-based Compensation (Details Textual) $ / shares in Units, $ in Thousands | Aug. 11, 2020shares | Oct. 29, 2013shares | Jun. 19, 2012shares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Jun. 08, 2020shares | Apr. 24, 2019shares | May 24, 2018shares | May 25, 2017shares | Jun. 08, 2016shares | May 07, 2015shares | Dec. 31, 2011shares | Dec. 31, 2009shares | Sep. 30, 2006shares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,005,964 | 623,272 | ||||||||||||
Share-based Payment Arrangement, Expense | $ | $ 7,900 | $ 11,500 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | 0 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | 0 | 200 | ||||||||||||
Proceeds from Stock Options Exercised | $ | $ 0 | $ 500 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 0.53 | $ 21.23 | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 4,200 | |||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ | $ 0 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ | $ 0 | |||||||||||||
Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan [Member] | ||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 380,000 | 76,923 | 10,072,308 | 4,072,308 | 3,149,231 | 1,995,385 | 1,456,923 | 918,462 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||||||
Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan [Member] | Executive Officer [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 150,000 | |||||||||||||
Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan [Member] | Options and Stock Appreciation Rights (SARs) [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee (in shares) | 76,923 | 15,385 | ||||||||||||
Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan [Member] | Restricted Stock, Deferred Stock, Performance Stock, and Other Stock [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee (in shares) | 38,462 | 7,692 | ||||||||||||
Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan [Member] | Time-based Restricted Stock Units [Member] | Executive Officer [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 30,000 | |||||||||||||
Asensus Surgical, Inc. Amended and Restated Incentive Compensation Plan [Member] | Performance Shares [Member] | Executive Officer [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 20,000 | |||||||||||||
The 2006 Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 259,861 | 85,389 | 6,154 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||||||||||||
Merger Agreement [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Exchange Ratio | 0.0887 |
Note 14 - Stock-based Compens_4
Note 14 - Stock-based Compensation - Stock Option Valuation Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Expected dividend yield | 0.00% | 0.00% |
Minimum [Member] | ||
Expected volatility | 82.00% | 81.00% |
Risk-free interest rate | 0.20% | 1.39% |
Expected life (in years) (Year) | 3 years 9 months 18 days | 5 years 6 months |
Maximum [Member] | ||
Expected volatility | 126.00% | 92.00% |
Risk-free interest rate | 1.69% | 2.66% |
Expected life (in years) (Year) | 6 years 1 month 6 days | 6 years 1 month 6 days |
Note 14 - Stock-based Compens_5
Note 14 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Options, Outstanding, Number of Shares (in shares) | 1,830,958 | |
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 30.71 | |
Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 6 years 18 days | 7 years 4 months 9 days |
Options, Granted, Number of Shares (in shares) | 3,005,964 | 623,272 |
Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.54 | |
Options, Forfeited, Number of Shares (in shares) | (293,102) | |
Options, Forfeitures in Period, Weighted Average Exercise Price (in dollars per share) | $ 19.08 | |
Options, Cancelled, Number of Shares (in shares) | (181,948) | |
Options, Expirations in Period, Weighted Average Exercise Price (in dollars per share) | $ 35.57 | |
Options, Exercised, Number of Shares (in shares) | 0 | |
Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share) | $ 0 | |
Options, Outstanding, Number of Shares (in shares) | 4,361,872 | 1,830,958 |
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 10.49 | $ 30.71 |
Note 14 - Stock-based Compens_6
Note 14 - Stock-based Compensation - Stock Options Outstanding (Details) | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Options, Exercisable, Number of Shares (in shares) | shares | 1,282,678 |
Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 27.71 |
Options, Exercisable, Weighted Average Remaining Contractual Term (Year) | 4 years 9 months 21 days |
Options, Vested and Expected to Vest, Exercisable, Number of Shares (in shares) | shares | 4,141,694 |
Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 10.89 |
Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term (Year) | 6 years 18 days |
Note 15 - Restricted Stock Un_3
Note 15 - Restricted Stock Units (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Expense | $ 7.9 | $ 11.5 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |
Share-based Payment Arrangement, Expense | $ 1.7 | $ 3.2 |
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 1.5 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 1 month 6 days |
Note 15 - Restricted Stock Un_4
Note 15 - Restricted Stock Units - RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning of period, Restricted stock units, Unvested (in shares) | 443,927 | 382,098 |
Beginning of period, Restricted stock units, Unvested, weighted average grant date fair value (in dollars per share) | $ 23.88 | $ 20.24 |
Restricted stock units, Granted (in shares) | 3,112,382 | 192,987 |
Restricted stock units, Granted, weighted average grant date fair value (in dollars per share) | $ 0.67 | $ 31.42 |
Restricted stock units, Vested (in shares) | (354,808) | (85,153) |
Restricted stock units, Vested, weighted average grant date fair value (in dollars per share) | $ 19.38 | $ 25.98 |
Restricted stock units, Forfeited (in shares) | (242,402) | (46,005) |
Restricted stock units, Forfeited, weighted average grant date fair value (in dollars per share) | $ 6.54 | $ 21.38 |
End of period, Restricted stock units, Unvested (in shares) | 2,959,099 | 443,927 |
End of period, Restricted stock units, Unvested, weighted average grant date fair value (in dollars per share) | $ 1.41 | $ 23.88 |
Note 16 - Warrants (Details Tex
Note 16 - Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 10, 2020 | Feb. 24, 2020 | Sep. 12, 2017 | Apr. 28, 2017 | Aug. 14, 2015 | Sep. 26, 2014 | Mar. 09, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | May 10, 2017 |
Number of Units Sold (in shares) | 24,900,000 | ||||||||||
Number of Shares in Each Unit (in shares) | 0.077 | ||||||||||
Equity Offering, Price Per Unit (in dollars per share) | $ 1 | ||||||||||
Stock issued During Period, Value, Exchange of Shares for Warrants | $ 2,470 | ||||||||||
Preferred Stock Dividends and Other Adjustments, Total | 400 | ||||||||||
Stock Warrants [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 200 | $ 200 | |||||||||
Series A Warrant [Member] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 13 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.077 | ||||||||||
Series B Warrant [Member] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 13 | $ 0.35 | $ 0.35 | ||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.058 | ||||||||||
Warrants, Exercisable Right, Limitation Percentage | 4.99% | ||||||||||
Outstanding Voting Stock Acquisition Threshold, Percentage to Assume Warrant Obligations | 50.00% | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 3,638,780 | 567,660 | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 567,660 | ||||||||||
Series B Warrant [Member] | Exchange Agreement [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.61 | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 3,373,900 | ||||||||||
Stock issued During Period, Shares, Exchange of Shares for Warrants (in shares) | 2,040,757 | ||||||||||
Stock issued During Period, Value, Exchange of Shares for Warrants | $ 2,500 | ||||||||||
Series C Warrants [Member] | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 25,367,646 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.68 | ||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 25,235,970 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||
Series D Warrants [Member] | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 25,367,646 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.68 | ||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 24,094,899 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||||||
Warrants Issued in Connection with the Innovatus Loan Agreement [Member] | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 13 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 0 | 0 | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 95,750 | ||||||||||
Service Warrants [Member] | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 73,076 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 13 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 10 years | ||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 0 | 15,385 | |||||||||
Class of Warrant or Right, Percentage of Vesting, Date of Execution Agreement | 25.00% | ||||||||||
Class of Warrant or Right, Percentage of Vesting, Completion of Hiring the Sales Team | 50.00% | ||||||||||
Class of Warrant or Right, Percentage of Vesting, Achieving Cumulative Product Revenue | 25.00% | ||||||||||
Class of Warrant or Right, Vesting, Cumulative Product Revenue | $ 15,000 | ||||||||||
SVB Loan Agreement [Member] | Warrants Issued in Connection with First Tranche Borrowings [Member] | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 2,948 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 52.20 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 7 years | ||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 0 | 0 | |||||||||
SVB Loan Agreement [Member] | Second Warrants Issued in Connection with First Tranche Borrowings [Member] | |||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 8,684 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 40.30 | ||||||||||
Warrants and Rights Outstanding, Term (Year) | 7 years | ||||||||||
Class of Warrant or Right, Exercised During Period (in shares) | 0 | 0 |
Note 16 - Warrants - Warrant Ac
Note 16 - Warrants - Warrant Activity (Details) - Stock Warrants [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding, number of warrant shares (in shares) | 2,071,172 | 333,034 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.05 | $ 13.39 | |
Outstanding, weighted average remaining contractual life (Year) | 2 years 4 months 24 days | 2 years 4 months 24 days | 3 years 8 months 12 days |
Outstanding, weighted average fair value (in dollars per share) | $ 0.20 | $ 1.34 | $ 3.38 |
Exercised, number of warrant shares (in shares) | (4,911,764) | (15,385) | |
Exercised, weighted average exercise price (in dollars per share) | $ 0.68 | $ 13 | |
Reserved for future issuance, number of warrant shares (in shares) | 644,966 | 1,753,523 | |
Reserved for future issuance, weighted average exercise price (in dollars per share) | $ 0.35 | $ 1.39 | |
Reserved for future issuance, weighted average remaining contractual life (Year) | 1 year 3 months 18 days | 2 years 2 months 12 days | |
Reserved for future issuance, weighted average fair value (in dollars per share) | $ 0.45 | $ 1.22 | |
Granted, number of warrant shares (in shares) | 50,735,292 | ||
Granted, weighted average exercise price (in dollars per share) | $ 0.68 | ||
Granted, weighted average remaining contractual life (Year) | 2 years 4 months 24 days | ||
Restricted stock units, Granted, weighted average grant date fair value (in dollars per share) | $ 0.19 | ||
Exchanged, number of warrant shares (in shares) | (2,040,757) | ||
Exchanged, weighted average exercise price (in dollars per share) | $ 1.24 | ||
Outstanding, number of warrant shares (in shares) | 46,498,909 | 2,071,172 | 333,034 |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.71 | $ 2.05 | $ 13.39 |
Note 17 - Equity Offerings (Det
Note 17 - Equity Offerings (Details Textual) - USD ($) | Jan. 29, 2021 | Jul. 06, 2020 | Mar. 10, 2020 | Feb. 10, 2020 | Sep. 04, 2019 | Jan. 26, 2021 | Mar. 11, 2021 | Jun. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 09, 2020 | Feb. 24, 2020 | Aug. 12, 2019 | Apr. 28, 2017 | Dec. 06, 2013 |
Proceeds from Issuance of Equity Net | $ 13,478,000 | $ 0 | ||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1 | |||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||||
Convertible Preferred Stock Converted to Other Securities | $ 299,000 | $ 0 | ||||||||||||||
Proceeds from Warrant Exercises | $ 3,340,000 | $ 538,000 | ||||||||||||||
Preferred Stock [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | 0 | ||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares) | (7,900,000) | (7,937,000) | ||||||||||||||
Stock Issued During Period Shares Stock Options and Warrants Exercised (in shares) | 0 | 0 | ||||||||||||||
Common Stock [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 66,241,000 | 3,571,000 | ||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares) | 7,937,000 | |||||||||||||||
Stock Issued During Period Shares Stock Options and Warrants Exercised (in shares) | 4,900,000 | 4,913,000 | 38,000 | |||||||||||||
Series C Warrants [Member] | ||||||||||||||||
Proceeds from Warrant Exercises | $ 3,300,000 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.68 | |||||||||||||||
Series D Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | 0.68 | |||||||||||||||
Series B Warrant [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 567,660 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.35 | $ 0.35 | $ 13 | |||||||||||||
Class of Warrant or Right, Outstanding (in shares) | 567,660 | 3,638,780 | ||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | |||||||||||||||
Subsequent Event [Member] | ||||||||||||||||
Proceeds from Warrant Exercises | $ 30,400,000 | |||||||||||||||
The 2019 ATM Offering [Member] | ||||||||||||||||
Stock Offering Agreement, Maximum Share Value | $ 25,000,000 | |||||||||||||||
Stock Offering Agreement, Commission, Percent | 3.00% | |||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 11,558,000 | $ 7,193,000 | ||||||||||||||
Proceeds from Issuance of Equity Net | $ 11,211,000 | $ 6,981,000 | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,687,846 | 1,374,686 | ||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.73 | $ 5.23 | ||||||||||||||
The 2020 ATM Offering [Member] | ||||||||||||||||
Stock Offering Agreement, Maximum Share Value | $ 40,000,000 | |||||||||||||||
Stock Offering Agreement, Commission, Percent | 3.00% | |||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 9,264,000 | |||||||||||||||
Proceeds from Issuance of Equity Net | $ 8,986,000 | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 16,320,793 | |||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.58 | |||||||||||||||
The 2020 ATM Offering [Member] | Subsequent Event [Member] | ||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 28,100,000 | |||||||||||||||
Proceeds from Issuance of Equity Net | $ 27,257,000 | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 19,120,037 | |||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.47 | |||||||||||||||
Public Offering [Member] | ||||||||||||||||
Proceeds from Issuance of Equity Net | $ 13,600,000 | $ 13,500,000 | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 42,857,142 | |||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.35 | |||||||||||||||
Public Offering [Member] | Preferred Stock [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 7,937,000 | |||||||||||||||
Public Offering [Member] | Common Stock [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 14,122,000 | |||||||||||||||
Public Offering [Member] | Series C Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,308,823 | |||||||||||||||
Public Offering [Member] | Series D Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,308,823 | |||||||||||||||
Public Offering [Member] | Class A Units [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 14,121,766 | |||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.68 | |||||||||||||||
Public Offering [Member] | Class B Units [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 7,937,057 | |||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.68 | |||||||||||||||
Public Offering [Member] | Subsequent Event [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 26,725,832 | |||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 3 | |||||||||||||||
Public Stock Offering [Member] | Underwriting Agreement [Member] | ||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 2,153,846 | |||||||||||||||
Over-Allotment Option [Member] | Underwriting Agreement [Member] | ||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 18,800,000 | |||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction (in shares) | 323,077 | |||||||||||||||
Lincoln Park Purchase Agreement [Member] | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 343,171 | |||||||||||||||
Stock Offering Agreement, Maximum Share Value | $ 25,000,000 | |||||||||||||||
Purchase Agreement, Number of Additional Shares Authorized (in shares) | 171,585 |
Note 17 - Equity Offerings - Su
Note 17 - Equity Offerings - Summary of Sales Under Offering (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Apr. 28, 2017 | |
Average price per share (in dollars per share) | $ 1 | ||
Net Proceeds | $ 13,478 | $ 0 | |
The 2019 ATM Offering [Member] | |||
Total shares of common stock sold (in shares) | 6,687,846 | 1,374,686 | |
Average price per share (in dollars per share) | $ 1.73 | $ 5.23 | |
Gross proceeds | $ 11,558 | $ 7,193 | |
Commissions earned by Cantor | 347 | 212 | |
Net Proceeds | $ 11,211 | $ 6,981 | |
The 2020 ATM Offering [Member] | |||
Total shares of common stock sold (in shares) | 16,320,793 | ||
Average price per share (in dollars per share) | $ 0.58 | ||
Gross proceeds | $ 9,264 | ||
Commissions earned by Cantor | 278 | ||
Net Proceeds | $ 8,986 |
Note 18 - Restructuring (Detail
Note 18 - Restructuring (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2019 | Dec. 31, 2020 | |
Restructuring Charges, Total | $ 8,800 | $ 851 |
Inventory Write Down [Member] | Cost of Sales [Member] | ||
Restructuring Charges, Total | 7,400 | |
Employee Severance [Member] | ||
Restructuring Charges, Total | $ 900 | |
Employee Severance [Member] | Restructuring and Other Charges [Member] | ||
Restructuring Charges, Total | $ 1,400 |
Note 18 - Restructuring - Restr
Note 18 - Restructuring - Restructuring Liability (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2019 | Dec. 31, 2020 | |
Balance | $ 882 | |
Amount charged to operating expenses | $ 8,800 | 851 |
Cash payments | (1,733) | |
Balance | $ 882 | $ 0 |
Note 19 - Basic and Diluted N_3
Note 19 - Basic and Diluted Net Loss per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 53,819,880 | 4,346,057 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 4,361,872 | 1,830,958 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 46,498,909 | 2,071,172 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 2,959,099 | 443,927 |
Note 20 - Related Person Tran_2
Note 20 - Related Person Transactions (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Sofar S.p.A. [Member] | Purchase of Equipment [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 74,000 | $ 26,000 |
1 Med S.A. [Member] | Service Supply Agreement [Member] | Asensus Surgical Europe S.à.R.L [Member] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 110,000 | $ 12,000 |
Note 21 - Commitments and Con_3
Note 21 - Commitments and Contingencies (Details Textual) $ in Thousands, € in Millions | Dec. 30, 2016EUR (€)shares | Sep. 21, 2015shares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jul. 31, 2020USD ($) | Jan. 01, 2020 | Apr. 15, 2019 | Jan. 01, 2019USD ($) | Jul. 01, 2018 | Apr. 25, 2018 | Jul. 01, 2016 | May 01, 2015 | Apr. 01, 2010 |
Business Combination, Contingent Consideration, Liability, Total | $ 3,936 | $ 1,084 | |||||||||||
Other Assets, Noncurrent, Total | 1,350 | 2,489 | |||||||||||
Other Liabilities, Noncurrent, Total | $ 628 | $ 1,403 | |||||||||||
Operating Lease, Weighted Average Discount Rate, Percent | 8.20% | 7.80% | |||||||||||
Operating Lease, Cost | $ 1,500 | $ 1,400 | |||||||||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 1 year 9 months 18 days | 2 years 7 months 6 days | |||||||||||
Operating Lease, Payments | $ 1,500 | $ 1,700 | |||||||||||
Lessee, Operating Lease, Liability, to be Paid, Total | 1,412 | 2,778 | |||||||||||
Operating Lease, Expense | 1,500 | 1,400 | |||||||||||
Restricted Cash Held with Silicon Valley Bank [Member] | |||||||||||||
Restricted Cash, Total | $ 500 | ||||||||||||
Silicon Valley Bank [Member] | |||||||||||||
Letters of Credit Outstanding, Amount | $ 500 | ||||||||||||
Office, Lab and Warehouse Space in Durham, North Carolina [Member] | |||||||||||||
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract (Month) | 125 months | ||||||||||||
Lessee, Operating Lease, Lease Not yet Commenced, Renewal Term (Year) | 5 years | ||||||||||||
Lessee, Operating Lease, Liability, to be Paid, Total | $ 5,000 | ||||||||||||
Asensus Surgical US [Member] | Corporate Offices [Member] | |||||||||||||
Lessee, Operating Lease, Term of Contract (Year) | 12 months | 18 months | 3 years 2 months | 5 years | |||||||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | 3 years | |||||||||||
Asensus Surgical US [Member] | Office Space in North Carolina [Member] | |||||||||||||
Lessee, Operating Lease, Term of Contract (Year) | 3 months | ||||||||||||
Asensus Surgical Italia S.r.l. [Member] | |||||||||||||
Lessee, Operating Lease, Term of Contract (Year) | 6 years | ||||||||||||
Asensus Surgical Israel Ltd [Member] | |||||||||||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | ||||||||||||
TransEnterix Japan K.K. [Member] | |||||||||||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | ||||||||||||
Asensus Surgical Europe S.à.R.L [Member] | |||||||||||||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | ||||||||||||
Other Noncurrent Assets [Member] | |||||||||||||
Operating Lease, Right-of-Use Asset | 1,200 | 2,300 | |||||||||||
Accrued Expenses and Other Long Term Liabilities [Member] | |||||||||||||
Operating Lease, Liability, Total | 1,261 | 2,512 | |||||||||||
Accrued Expense [Member] | |||||||||||||
Operating Lease, Liability, Current | 686 | 1,112 | |||||||||||
Other Noncurrent Liabilities [Member] | |||||||||||||
Operating Lease, Liability, Noncurrent | $ 600 | 1,400 | |||||||||||
Minimum [Member] | |||||||||||||
Lessee, Operating Lease, Discount Rate | 6.10% | ||||||||||||
Maximum [Member] | |||||||||||||
Lessee, Operating Lease, Discount Rate | 8.50% | ||||||||||||
Accounting Standards Update 2016-02 [Member] | |||||||||||||
Other Assets, Noncurrent, Total | $ 1,800 | ||||||||||||
Accrued Liabilities, Total | 500 | ||||||||||||
Other Liabilities, Noncurrent, Total | $ 1,200 | ||||||||||||
Senhance Surgical Robotic System Acquisition [Member] | |||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | € | € 5 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 286,360 | 1,195,647 | |||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 3,900 | $ 1,100 | |||||||||||
Senhance Surgical Robotic System Acquisition [Member] | License and Supply Agreement [Member] | |||||||||||||
Contractual Obligation, to be Paid, Year One | 3,500 | ||||||||||||
Contractual Obligation, to be Paid, Year Two | 500 | ||||||||||||
Contractual Obligation, to be Paid, Year Three | 500 | ||||||||||||
Contractual Obligation, to be Paid, Year Four | 500 | ||||||||||||
Contractual Obligation, to be Paid, Year Five | $ 500 |
Note 21 - Commitments and Con_4
Note 21 - Commitments and Contingencies - Minimum Lease Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 883 | $ 1,372 |
2022 | 404 | 716 |
2023 | 120 | 454 |
2024 | 5 | 207 |
2025 | 0 | 28 |
Thereafter | 0 | 0 |
Total minimum lease payments | 1,412 | 2,778 |
Less: Amount of lease payments representing interest | (151) | (266) |
Accrued Expenses and Other Long Term Liabilities [Member] | ||
Present value of future minimum lease payments | $ 1,261 | $ 2,512 |
Note 22 - Subsequent Events (De
Note 22 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 29, 2021 | Jan. 12, 2021 | Jul. 06, 2020 | Jan. 31, 2021 | Mar. 11, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 28, 2017 |
Shares Issued, Price Per Share (in dollars per share) | $ 1 | |||||||
Stock Issued During Period, Value, New Issues | $ 33,846 | $ 25,777 | ||||||
Proceeds from Warrant Exercises | 3,340 | $ 538 | ||||||
Public Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 42,857,142 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.35 | |||||||
Stock Issued During Period, Value, New Issues | $ 13,477 | |||||||
Subsequent Event [Member] | ||||||||
Proceeds from Warrant Exercises | $ 30,400 | |||||||
Subsequent Event [Member] | Registered Direct Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 25,000,000 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.25 | |||||||
Stock Issued During Period, Value, New Issues | $ 31,250 | |||||||
Proceeds from Issuance of Common Stock | $ 28,800 | $ 28,800 | ||||||
Subsequent Event [Member] | Public Offering [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 26,725,832 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ 3 | |||||||
Proceeds from Issuance of Common Stock | $ 73,500 | $ 73,500 |
Note 22 - Subsequent Events - S
Note 22 - Subsequent Events - Summary of Sales Under Offering (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jan. 26, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 28, 2017 | |
Average price per share (in dollars per share) | $ 1 | |||
Net Proceeds | $ 13,478 | $ 0 | ||
The 2020 ATM Offering [Member] | ||||
Total shares of common stock sold (in shares) | 16,320,793 | |||
Average price per share (in dollars per share) | $ 0.58 | |||
Gross proceeds | $ 9,264 | |||
Commissions earned by Cantor | 278 | |||
Net Proceeds | $ 8,986 | |||
The 2020 ATM Offering [Member] | Subsequent Event [Member] | ||||
Total shares of common stock sold (in shares) | 19,120,037 | |||
Average price per share (in dollars per share) | $ 1.47 | |||
Gross proceeds | $ 28,100 | |||
Commissions earned by Cantor | 843 | |||
Net Proceeds | $ 27,257 |