Cynosure (CYNO) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	CYNO
Entity Registrant Name	CYNOSURE INC
Entity Central Index Key	885,306
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,725,708

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 81,405	$ 75,131
Short-term marketable securities	38,429	32,055
Accounts receivable, net	44,933	42,524
Inventories	74,310	59,318
Prepaid expenses and other current assets	14,495	9,629
Deferred income taxes	17,527	17,228
Total current assets	271,099	235,885
Property and equipment, net	38,461	34,256
Long-term marketable securities	33,420	26,189
Goodwill	105,794	105,764
Intangibles, net	46,668	53,583
Other assets	2,325	2,047
Total assets	497,767	457,724
Current liabilities:
Accounts payable	22,114	20,856
Accrued expenses	40,706	42,426
Deferred revenue	16,140	10,971
Capital lease obligation	525	137
Total current liabilities	79,485	74,390
Capital lease obligation, net of current portion	17,068	16,088
Deferred revenue, net of current portion	847	809
Other noncurrent liability	$ 10,495	$ 8,325
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, $0.001 par value Authorized - 5,000 shares Issued - none
Class A and Class B common stock, $0.001 par value Authorized - 70,000 shares Issued - 24,222 Class A shares and no Class B shares at September 30, 2015 Issued - 23,253 Class A shares and no Class B shares at December 31, 2014	$ 24	$ 23
Additional paid-in capital	379,824	355,082
Retained earnings	48,553	39,974
Accumulated other comprehensive loss	(5,425)	(3,863)
Treasury stock, 1,628 Class A shares, at cost	(33,104)	(33,104)
Total stockholders' equity	389,872	358,112
Total liabilities and stockholders' equity	$ 497,767	$ 457,724

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Class A and Class B common stock, shares authorized	70,000,000	70,000,000
Common Stock Class A [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	24,222,000	23,253,000
Treasury stock, shares	1,628,000	1,628,000
Common Stock Class B [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Product revenues	$ 64,644	$ 55,672	$ 190,575	$ 164,969
Parts, accessories, service and royalty revenues	13,770	15,858	46,445	41,138
Total revenues	78,414	71,530	237,020	206,107
Cost of revenues	34,009	31,232	102,486	89,721
Gross profit	44,405	40,298	134,534	116,386
Operating expenses:
Sales and marketing	26,828	21,721	78,950	62,710
Research and development	5,514	5,746	16,723	16,319
Amortization of intangible assets acquired	736	740	2,208	2,166
General and administrative	6,492	6,841	22,124	22,197
Total operating expenses	39,570	35,048	120,005	103,392
Income from operations	4,835	5,250	14,529	12,994
Interest expense, net	(428)	(342)	(1,260)	(1,034)
Other expense, net	(216)	(827)	(1,395)	(548)
Income before provision for income taxes	4,191	4,081	11,874	11,412
Provision for income taxes	962	1,007	3,295	3,074
Net income	$ 3,229	$ 3,074	$ 8,579	$ 8,338
Basic net income per share	$ 0.14	$ 0.14	$ 0.39	$ 0.38
Diluted net income per share	$ 0.14	$ 0.14	$ 0.38	$ 0.37
Basic weighted-average common shares outstanding	22,580	21,637	22,167	21,900
Diluted weighted-average common shares outstanding	22,880	21,900	22,539	22,280

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 3,229	$ 3,074	$ 8,579	$ 8,338
Other comprehensive loss components:
Cumulative translation adjustment	(516)	(1,429)	(1,605)	(1,249)
Unrealized gain (loss) on marketable securities	37	(12)	43	(16)
Total other comprehensive loss	(479)	(1,441)	(1,562)	(1,265)
Comprehensive income	$ 2,750	$ 1,633	$ 7,017	$ 7,073

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Net income	$ 8,579	$ 8,338
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	14,343	13,100
Stock-based compensation expense	5,683	5,320
Loss on disposal of fixed assets	15	67
Noncash interest expense on capital lease obligations	1,271	1,110
Noncash interest expense on license transfer agreement	148
Deferred income taxes	1,590	(127)
Net accretion of marketable securities	1,609	1,134
Tax benefit from stock option exercises	(1,309)	(3,033)
Changes in operating assets and liabilities:
Accounts receivable	(3,391)	(5,994)
Inventories	(20,018)	(6,325)
Net book value of demonstration inventory sold	298	500
Prepaid expenses and other current assets	(3,889)	759
Accounts payable	1,339	5,774
Accrued expenses	(1,345)	(2,599)
Deferred revenue	5,380	(63)
Other noncurrent liability	(179)
Net cash provided by operating activities	10,124	17,961
Investing activities:
Purchases of property and equipment	(8,101)	(14,011)
Proceeds from the sales and maturities of marketable securities	35,247	25,755
Purchases of marketable securities	(50,403)	(50,712)
Cash paid for acquisitions, net of cash received		(13,235)
Increase in other noncurrent assets	(29)	(89)
Net cash used in investing activities	(23,286)	(52,292)
Financing activities:
Excess tax benefit on options exercised	1,309	3,033
Repurchases of common stock		(15,554)
Proceeds from stock option exercises	17,745	7,629
Payments on capital lease obligation	(179)	(602)
Net cash provided by (used in) financing activities	18,875	(5,494)
Effect of exchange rate changes on cash and cash equivalents	561	(76)
Net increase (decrease) in cash and cash equivalents	6,274	(39,901)
Cash and cash equivalents, beginning of the period	75,131	93,655
Cash and cash equivalents, end of the period	81,405	53,754
Supplemental cash flow information
Cash paid for interest	13	14
Cash paid for income taxes	2,915	1,827
Supplemental noncash investing and financing activities
Transfer of demonstration equipment from inventory to fixed assets	4,970	3,151
Assets acquired under capital lease	273	$ 166
Net effect of acquisition-related opening balance sheet adjustments	$ 143

Interim Consolidated Financial

Interim Consolidated Financial Statements	9 Months Ended
	Sep. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Interim Consolidated Financial Statements	Note 1 — Interim Consolidated Financial Statements The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim information and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Annual Report on Form 10-K of Cynosure, Inc. (Cynosure) for the year ended December 31, 2014. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position, results of operations, and cash flows as of the dates and for the periods presented have been included. The results of operations for the nine months ended September 30, 2015 may not be indicative of the results that may be expected for the year ending December 31, 2015, or any other period.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Note 2 — Stock-Based Compensation Cynosure recorded stock-based compensation expense of $1.9 million and $2.0 million for the three months ended September 30, 2015 and 2014, respectively. Cynosure recorded stock-based compensation expense of $5.7 million and $5.3 million for the nine months ended September 30, 2015 and 2014, respectively. As of September 30, 2015 and 2014, respectively, Cynosure had $29,000 and $25,000 of stock-based compensation expense capitalized as a part of inventory. Total stock-based compensation expense was recorded to cost of revenues and operating expenses based upon the functional responsibilities of the individual holding the respective share-based payments, as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Cost of revenues $ 96 $ 79 $ 244 $ 219 Sales and marketing 541 519 1,511 1,481 Research and development 308 270 857 757 General and administrative 1,004 1,108 3,071 2,863 Total stock-based compensation expense $ 1,949 $ 1,976 $ 5,683 $ 5,320 Cash received from option exercises was $17.7 million and $7.6 million during the nine months ended September 30, 2015 and 2014, respectively. Cynosure granted options to purchase 452,499 and 849,680 shares of common stock during the nine months ended September 30, 2015 and 2014, respectively. Cynosure has elected to use the Black-Scholes model to determine the weighted average fair value of options. The weighted average fair value of the options granted during the nine months ended September 30, 2015 and 2014 was $12.40 and $10.51, respectively, using the following assumptions: Nine Months Ended September 30, 2015 2014 Risk-free interest rate 1.39% - 1.72% 1.44% - 1.80% Expected dividend yield — — Expected term 4.8 years 4.6 years Expected volatility 42% - 43% 43% - 44% Estimated forfeiture rate 5% 5% Option-pricing models require the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. Cynosure’s estimated expected stock price volatility is based on its own historical volatility. Cynosure’s expected term of options represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and Cynosure’s historical exercise patterns. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The dividend yield of zero is based on the fact that Cynosure has never paid cash dividends and has no present intention to pay cash dividends. Cynosure granted 86,618 and 44,840 restricted stock units during the nine months ended September 30, 2015 and 2014, respectively, to employees at a fair market value of its common stock on the date of grant and which vest annually over a three-year period. Cynosure is recognizing related compensation expense, net of estimated forfeitures, on a straight-line basis over the three-year period. Cynosure granted 16,685 and 43,500 restricted stock units during the nine months ended September 30, 2015 and 2014, respectively, to non-employee directors at a fair market value of its common stock on the date of grant and which vest quarterly over a one-year period. Cynosure is recognizing related compensation expense, net of estimated forfeitures, on a straight-line basis over the one-year period.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Note 3 — Inventories Cynosure states all inventories at the lower of cost or market, determined on a first-in, first-out method. Inventory includes material, labor and overhead and consists of the following: September 30, 2015 December 31, 2014 (in thousands) Raw materials $ 21,032 $ 16,875 Work in process 3,522 3,526 Finished goods 49,756 38,917 $ 74,310 $ 59,318

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value	Note 4 — Fair Value U.S. GAAP establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable markets data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table represents Cynosure’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value as of September 30, 2015 (in thousands): Level 1 Level 2 Level 3 Total Money market funds (1) $ 5,801 $ — $ — $ 5,801 Treasuries and government agencies (2) — 14,523 — 14,523 State and municipal bonds — 59,826 — 59,826 Total $ 5,801 $ 74,349 $ — $ 80,150 The following table represents Cynosure’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value as of December 31, 2014 (in thousands): Level 1 Level 2 Level 3 Total Money market funds (1) $ 1,753 $ — $ — $ 1,753 State and municipal bonds — 47,744 — 47,744 Treasuries and government agencies — 8,486 — 8,486 Corporate obligations and commercial paper — 2,001 — 2,001 Equity securities 13 — — 13 Total $ 1,766 $ 58,231 $ — $ 59,997 (1) Included in cash and cash equivalents at September 30, 2015 and December 31, 2014. (2) $2.5 million included in cash and cash equivalents at September 30, 2015. During the nine months ended September 30, 2015, there were no significant transfers in and out of Level 1 and Level 2. Cynosure did not have any Level 3 financial assets at September 30, 2015 or December 31, 2014.

Short and Long-Term Marketable

Short and Long-Term Marketable Securities	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Short and Long-Term Marketable Securities	Note 5 — Short and Long-Term Marketable Securities Cynosure’s available-for-sale securities at September 30, 2015 consist of approximately $74.3 million of investments in debt securities consisting of state and municipal bonds, treasuries and government agencies. All investments in available-for-sale securities are recorded at fair market value, with any unrealized gains and losses reported as a separate component of accumulated other comprehensive loss. As of September 30, 2015, Cynosure’s marketable securities consist of the following (in thousands): Market Value Amortized Cost Unrealized Gains Unrealized Losses Available-for-Sale Securities: Cash equivalents: Treasuries and government agencies $ 2,500 $ 2,500 $ — $ — Total cash equivalents $ 2,500 $ 2,500 $ — $ — Short-term marketable securities: State and municipal bonds $ 36,929 $ 36,912 $ 17 $ — Treasuries and government agencies 1,500 1,500 — — Total short-term marketable securities $ 38,429 $ 38,412 $ 17 $ — Long-term marketable securities: State and municipal bonds $ 22,897 $ 22,873 $ 26 $ (2 ) Treasuries and government agencies 10,523 10,515 8 — Total long-term marketable securities $ 33,420 $ 33,388 $ 34 $ (2 ) Total available-for-sale securities $ 74,349 $ 74,300 $ 51 $ (2 ) Total marketable securities $ 71,849 As of December 31, 2014, Cynosure’s marketable securities consist of the following (in thousands): Market Value Amortized Cost Unrealized Gains Unrealized Losses Available-for-Sale Securities: Short-term marketable securities: State and municipal bonds $ 26,041 $ 26,033 $ 8 $ — Treasuries and government agencies 4,000 4,000 — — Corporate obligations and commercial paper 2,001 2,001 — — Equity securities 13 18 — (5 ) Total short-term marketable securities $ 32,055 $ 32,052 $ 8 $ (5 ) Long-term marketable securities: State and municipal bonds $ 21,703 $ 21,721 $ 2 $ (20 ) Corporate obligations and commercial paper 4,486 4,500 — (14 ) Total long-term marketable securities $ 26,189 $ 26,221 $ 2 $ (34 ) Total available-for-sale securities $ 58,244 $ 58,273 $ 10 $ (39 ) Total marketable securities $ 58,244 As of September 30, 2015, Cynosure’s available-for-sale debt securities mature as follows (in thousands): Total Maturities Less Than One Year One to Five Years More than Five Years State and municipal bonds $ 59,826 $ 36,929 $ 22,897 $ — Treasuries and government agencies 14,523 4,000 10,523 — Total available-for-sale debt securities $ 74,349 $ 40,929 $ 33,420 $ —

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions	Note 6 — Acquisitions Ellman International, Inc. On September 5, 2014, Cynosure acquired substantially all of the assets of Ellman International, Inc. (Ellman) for $13.2 million in cash. In addition, Cynosure assumed current liabilities associated with normal working capital and certain contractual liabilities. The purchase price was based primarily on the net working capital on the date of purchase plus an amount to retire all of Ellman’s long term debt on the date of sale. Cynosure also assumed a license transfer agreement as part of the purchase valued at $4.2 million. The acquisition complements Cynosure’s aesthetic treatment platform with radiofrequency energy sources and accessory products. The acquisition of substantially all of the assets of Ellman was considered a business acquisition for accounting purposes. Cynosure has assessed the fair value of the assets acquired and liabilities assumed. Pro forma financial information was filed with the SEC within the applicable time period. Cynosure has allocated the purchase price to the net tangible and intangible assets based on their estimated fair values as of September 5, 2014. During the nine months ended September 30, 2015, Cynosure completed its purchase accounting estimates of the assets acquired and liabilities assumed in connection with the acquisition of the assets of Ellman, and as a result, increased goodwill from $6.6 million at December 31, 2014 to $6.7 million at September 30, 2015, with the offsetting decrease to inventory. The following table summarizes the estimated fair value as of September 5, 2014 of the net assets acquired (in thousands): Purchase price: Cash paid $ 13,235 Total $ 13,235 Assets (liabilities) acquired: Accounts receivable $ 2,144 Inventory 3,542 Prepaid expenses and other assets 488 Property and equipment 612 Intangible assets 6,800 Goodwill 6,741 Accounts payable (9 ) Accrued expenses (2,469 ) Deferred revenue (454 ) Other noncurrent liability (4,160 ) Total $ 13,235

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 7 — Goodwill and Other Intangible Assets Changes to goodwill during the nine months ended September 30, 2015 were as follows (in thousands): Balance – December 31, 2014 $ 105,764 Ellman acquisition 143 Translation adjustment (113 ) Balance – September 30, 2015 $ 105,794 Other intangible assets consisted of the following at September 30, 2015 and December 31, 2014 (in thousands): Developed Technology & Patents Business Licenses Customer Relationships Trade Names Other Total September 30, 2015 Cost $ 29,240 $ 384 $ 19,718 $ 18,390 $ 1,353 $ 69,085 Translation adjustment — — (39 ) — — (39 ) Accumulated amortization (12,500 ) (229 ) (7,300 ) (2,290 ) (59 ) (22,378 ) Balance, September 30, 2015 $ 16,740 $ 155 $ 12,379 $ 16,100 $ 1,294 $ 46,668 December 31, 2014 Cost $ 29,240 $ 384 $ 19,718 $ 18,390 $ 1,338 $ 69,070 Translation adjustment — 34 2 — 2 38 Accumulated amortization (7,840 ) (252 ) (5,818 ) (1,607 ) (8 ) (15,525 ) Balance, December 31, 2014 $ 21,400 $ 166 $ 13,902 $ 16,783 $ 1,332 $ 53,583 Amortization expense related to developed technology and patents is classified as a component of cost of revenues. Amortization expense related to customer relationships and trade names is classified as a component of amortization of intangible assets acquired. Amortization expense related to business licenses and other is classified as a component of general and administrative expenses. Amortization expense for the three months ended September 30, 2015 and 2014 was $2.3 million and $2.2 million, respectively. Amortization expense for the nine months ended September 30, 2015 and 2014 was $6.9 million and $6.4 million, respectively. Cynosure has approximately $1.0 million of indefinite-life intangible assets that are included in other intangible assets in the table above. As of September 30, 2015, amortization expense on existing intangible assets for the next five years and beyond is as follows (in thousands): Remainder of 2015 $ 2,305 2016 8,431 2017 6,441 2018 4,925 2019 3,189 2020 and thereafter 20,401 Total $ 45,692

Warranty Costs

Warranty Costs	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Warranty Costs	Note 8 — Warranty Costs Cynosure typically provides a one-year parts and labor warranty on end-user sales of equipment. Distributor sales generally include a one-year warranty on parts only. Estimated future costs for initial product warranties are provided for at the time of revenue recognition and charged to cost of goods sold. The following table provides the detail of the change in Cynosure’s product warranty accrual during the nine months ended September 30, 2015, which is a component of accrued expenses in the consolidated balance sheets (in thousands): Balance – December 31, 2014 $ 8,118 Warranty provision related to new sales 9,570 Costs incurred (9,785 ) Balance – September 30, 2015 $ 7,903

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Note 9 — Segment Information In accordance with Accounting Standards Codification (ASC) 280, Segment Reporting Topic, The following table represents total revenue by geographic area: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) United States $ 47,341 $ 39,734 $ 136,988 $ 100,404 Europe 8,470 10,207 29,572 35,830 Asia / Pacific 16,217 15,131 51,175 47,857 Other 6,386 6,458 19,285 22,016 Total $ 78,414 $ 71,530 $ 237,020 $ 206,107 Total assets by geographic area are as follows: September 30, 2015 December 31, 2014 (in thousands) United States $ 462,585 $ 420,513 Europe 21,526 23,235 Asia / Pacific 19,247 19,182 Eliminations (5,591 ) (5,206 ) Total $ 497,767 $ 457,724 Long-lived assets (property and equipment only) by geographic area are as follows: September 30, 2015 December 31, 2014 (in thousands) United States $ 34,134 $ 30,912 Europe 1,540 1,656 Asia / Pacific 2,787 1,688 Total $ 38,461 $ 34,256 No individual country within Europe or Asia/Pacific represented greater than 10% of total revenue, assets or long-lived assets for any period presented.

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Income Per Common Share	Note 10 — Net Income Per Common Share Basic net income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted net income per share is determined by dividing net income by the diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of common stock options and restricted stock units based on the treasury stock method. A reconciliation of basic and diluted shares is as follows (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income $ 3,229 $ 3,074 $ 8,579 $ 8,338 Basic weighted average common shares outstanding 22,580 21,637 22,167 21,900 Weighted average common equivalent shares 300 263 372 380 Diluted weighted average common shares outstanding 22,880 21,900 22,539 22,280 Basic net income per share $ 0.14 $ 0.14 $ 0.39 $ 0.38 Diluted net income per share $ 0.14 $ 0.14 $ 0.38 $ 0.37 For the three and nine months ended September 30, 2015, approximately 0.5 million and 1.1 million weighted average shares subject to stock options and restricted stock units, respectively, were excluded from the calculation of diluted weighted average common shares outstanding as their effect was antidilutive. For the three and nine months ended September 30, 2014, approximately 1.7 million and 1.5 million weighted average shares subject to stock options and restricted stock units, respectively, were excluded from the calculation of diluted weighted average common shares outstanding as their effect was antidilutive.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note 11 — Accumulated Other Comprehensive Loss Changes to accumulated other comprehensive loss during the nine months ended September 30, 2015 were as follows (in thousands): Unrealized Gain on Marketable Securities, net of taxes Translation Adjustment Accumulated Other Comprehensive Loss Balance — December 31, 2014 $ (10 ) $ (3,853 ) $ (3,863 ) Current period other comprehensive loss 43 (1,605 ) (1,562 ) Balance — September 30, 2015 $ 33 $ (5,458 ) $ (5,425 )

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 12 — Income Taxes During the three and nine months ended September 30, 2015, Cynosure recorded an income tax provision of $1.0 million and $3.3 million, respectively, representing an effective tax rate of 23% and 28%, respectively. The income tax provision for the three and nine months ended September 30, 2015 was primarily attributable to applying Cynosure’s estimated annual effective tax rate to its year-to-date consolidated income before provision for income taxes. The estimated annual effective tax rate is favorably impacted by the jurisdictional mix of worldwide earnings and the domestic manufacturing deduction, and unfavorably impacted by non-deductible expenses. The difference between the U.S. federal statutory tax rate and the effective tax rate was primarily attributable to a discrete tax benefit of $0.5 million for the release of valuation allowance previously maintained against the net deferred tax assets of Palomar Japan K.K., that was recorded in the second quarter of 2015, as well as a discrete tax benefit of $0.5 million that was principally due to an increase in 2014 federal and state research credits that was recorded in the third quarter of 2015. During the three and nine months ended September 30, 2014, Cynosure recorded an income tax provision of $1.0 million and $3.1 million, respectively, representing an effective tax rate of 25% and 27%, respectively. The income tax provision for the three and nine months ended September 30, 2014 was primarily attributable to applying Cynosure’s estimated annual effective tax rate to its year-to-date consolidated income before provision for income taxes. The difference between the U.S. federal statutory tax rate and the effective tax rate was primarily attributable to a discrete tax benefit of $0.3 million for the release of the valuation allowance previously maintained against the net deferred tax assets of Cynosure Spain S.L. that was recognized in the second quarter of 2014. Other factors resulting in differences between the U.S. federal statutory tax rate and the effective tax rate are the jurisdictional mix of worldwide earnings, non-deductible expenses and the domestic manufacturing deduction. At September 30, 2015 and December 31, 2014, Cynosure had gross tax-effected unrecognized tax benefits of $0.8 million of which the entire amount, if recognized, would favorably impact the effective tax rate. Cynosure classifies interest and penalties related to income taxes as a component of its provision for income taxes. Cynosure does not expect any material changes in the amounts of unrecognized tax benefits over the next 12 months. Cynosure files income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. Cynosure is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2012. With few exceptions, Cynosure is no longer subject to U.S. state tax examinations for years before 2011. Additionally, certain non-U.S. jurisdictions are no longer subject to income tax examinations by tax authorities for years before 2010.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13 — Commitments and Contingencies Lease Commitments Cynosure leases the land portion of its U.S. operating facility and certain foreign facilities under non-cancellable operating lease agreements expiring through May 2027. These leases are non-cancellable and typically contain renewal options. Certain leases contain rent escalation clauses for which Cynosure recognizes the expense on a straight-line basis. Rent expense for the three and nine months ended September 30, 2015 was approximately $0.5 million and $1.5 million, respectively. Rent expense for the three and nine months ended September 30, 2014 was approximately $0.6 million and $2.5 million, respectively. The 2014 period rent expense includes rent expense incurred on the former Palomar Medical Technologies, Inc. headquarters, which Cynosure occupied through July 2014. Cynosure leases the buildings portion of its U.S. operating facility and certain equipment and vehicles under capital lease agreements with payments due through May 2027. Commitments under Cynosure’s lease arrangements are as follows as of September 30, 2015 (in thousands): Operating Leases Capital Leases Remainder of 2015 $ 467 $ 45 2016 1,823 2,355 2017 1,818 2,749 2018 1,774 2,650 2019 1,375 2,629 2020 and thereafter 2,844 20,958 Total minimum lease payments $ 10,101 $ 31,386 Less amount representing interest (13,793 ) Present value of obligations under capital leases $ 17,593 Current portion of capital lease obligations 525 Capital lease obligations, net of current portion $ 17,068 Contractual Obligations Cynosure’s significant outstanding contractual obligations relate to its capital leases from its facilities leases, including the buildings portion of its U.S. operating facility, and equipment financings. Cynosure’s leases are non-cancellable and typically contain renewal options. Certain leases contain rent escalation clauses for which Cynosure recognizes the expense on a straight-line basis. Cynosure has summarized in the table below its fixed contractual cash obligations as of September 30, 2015. Total Less Than One Year One to Three Years Three to Five Years More than Five Years (in thousands) Capital lease obligations, including interest $ 31,386 $ 1,811 $ 5,325 $ 5,259 $ 18,991 Operating leases 10,101 1,834 3,605 2,334 2,328 Total contractual obligations $ 41,487 $ 3,645 $ 8,930 $ 7,593 $ 21,319 Contingencies Cynosure continually assesses litigation to determine if an unfavorable outcome would lead to a probable loss or reasonably possible loss, which could be estimated. In accordance with the Financial Accounting Standards Board’s guidance on accounting for contingencies, Cynosure accrues for all direct costs associated with the estimated resolution of contingencies at the earliest date at which it is deemed probable that a liability has been incurred and the amount of such liability can be reasonably estimated. If the estimate of a probable loss is a range and no amount within the range is more likely, Cynosure accrues the minimum amount of the range. In cases where Cynosure believes that a reasonably possible loss exists, Cynosure discloses the facts and circumstances of the litigation, including an estimable range, if possible. In management’s opinion, Cynosure is not currently involved in any legal proceedings, which, individually or in the aggregate, could have a material effect on Cynosure’s financial statements. Cynosure believes that contingent losses associated with any current litigation were remote as of September 30, 2015 and at the time of the filing of this Quarterly Report on Form 10-Q, and as such, Cynosure has not recorded or disclosed any material loss contingencies.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 14 — Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued guidance codified in ASC 606, Revenue Recognition — Revenue from Contracts with Customers Revenue Recognition

Recent Accounting Pronounceme21

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued guidance codified in ASC 606, Revenue Recognition — Revenue from Contracts with Customers Revenue Recognition

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock-Based Compensation Expenses	Total stock-based compensation expense was recorded to cost of revenues and operating expenses based upon the functional responsibilities of the individual holding the respective share-based payments, as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Cost of revenues $ 96 $ 79 $ 244 $ 219 Sales and marketing 541 519 1,511 1,481 Research and development 308 270 857 757 General and administrative 1,004 1,108 3,071 2,863 Total stock-based compensation expense $ 1,949 $ 1,976 $ 5,683 $ 5,320
Summary of Share-Based Compensation Arrangement Fair Value Assumptions	The weighted average fair value of the options granted during the nine months ended September 30, 2015 and 2014 was $12.40 and $10.51, respectively, using the following assumptions: Nine Months Ended September 30, 2015 2014 Risk-free interest rate 1.39% - 1.72% 1.44% - 1.80% Expected dividend yield — — Expected term 4.8 years 4.6 years Expected volatility 42% - 43% 43% - 44% Estimated forfeiture rate 5% 5%

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventory includes material, labor and overhead and consists of the following: September 30, 2015 December 31, 2014 (in thousands) Raw materials $ 21,032 $ 16,875 Work in process 3,522 3,526 Finished goods 49,756 38,917 $ 74,310 $ 59,318

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Measurement of Fair Value Hierarchy for Financial Assets	The following table represents Cynosure’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value as of September 30, 2015 (in thousands): Level 1 Level 2 Level 3 Total Money market funds (1) $ 5,801 $ — $ — $ 5,801 Treasuries and government agencies (2) — 14,523 — 14,523 State and municipal bonds — 59,826 — 59,826 Total $ 5,801 $ 74,349 $ — $ 80,150 The following table represents Cynosure’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value as of December 31, 2014 (in thousands): Level 1 Level 2 Level 3 Total Money market funds (1) $ 1,753 $ — $ — $ 1,753 State and municipal bonds — 47,744 — 47,744 Treasuries and government agencies — 8,486 — 8,486 Corporate obligations and commercial paper — 2,001 — 2,001 Equity securities 13 — — 13 Total $ 1,766 $ 58,231 $ — $ 59,997 (1) Included in cash and cash equivalents at September 30, 2015 and December 31, 2014. (2) $2.5 million included in cash and cash equivalents at September 30, 2015.

Short and Long-Term Marketabl25

Short and Long-Term Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	As of September 30, 2015, Cynosure’s marketable securities consist of the following (in thousands): Market Value Amortized Cost Unrealized Gains Unrealized Losses Available-for-Sale Securities: Cash equivalents: Treasuries and government agencies $ 2,500 $ 2,500 $ — $ — Total cash equivalents $ 2,500 $ 2,500 $ — $ — Short-term marketable securities: State and municipal bonds $ 36,929 $ 36,912 $ 17 $ — Treasuries and government agencies 1,500 1,500 — — Total short-term marketable securities $ 38,429 $ 38,412 $ 17 $ — Long-term marketable securities: State and municipal bonds $ 22,897 $ 22,873 $ 26 $ (2 ) Treasuries and government agencies 10,523 10,515 8 — Total long-term marketable securities $ 33,420 $ 33,388 $ 34 $ (2 ) Total available-for-sale securities $ 74,349 $ 74,300 $ 51 $ (2 ) Total marketable securities $ 71,849 As of December 31, 2014, Cynosure’s marketable securities consist of the following (in thousands): Market Value Amortized Cost Unrealized Gains Unrealized Losses Available-for-Sale Securities: Short-term marketable securities: State and municipal bonds $ 26,041 $ 26,033 $ 8 $ — Treasuries and government agencies 4,000 4,000 — — Corporate obligations and commercial paper 2,001 2,001 — — Equity securities 13 18 — (5 ) Total short-term marketable securities $ 32,055 $ 32,052 $ 8 $ (5 ) Long-term marketable securities: State and municipal bonds $ 21,703 $ 21,721 $ 2 $ (20 ) Corporate obligations and commercial paper 4,486 4,500 — (14 ) Total long-term marketable securities $ 26,189 $ 26,221 $ 2 $ (34 ) Total available-for-sale securities $ 58,244 $ 58,273 $ 10 $ (39 ) Total marketable securities $ 58,244
Schedule of Available-for-Sale Debt Securities Mature	As of September 30, 2015, Cynosure’s available-for-sale debt securities mature as follows (in thousands): Total Maturities Less Than One Year One to Five Years More than Five Years State and municipal bonds $ 59,826 $ 36,929 $ 22,897 $ — Treasuries and government agencies 14,523 4,000 10,523 — Total available-for-sale debt securities $ 74,349 $ 40,929 $ 33,420 $ —

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Estimated Fair Value of Net Assets Acquired	The following table summarizes the estimated fair value as of September 5, 2014 of the net assets acquired (in thousands): Purchase price: Cash paid $ 13,235 Total $ 13,235 Assets (liabilities) acquired: Accounts receivable $ 2,144 Inventory 3,542 Prepaid expenses and other assets 488 Property and equipment 612 Intangible assets 6,800 Goodwill 6,741 Accounts payable (9 ) Accrued expenses (2,469 ) Deferred revenue (454 ) Other noncurrent liability (4,160 ) Total $ 13,235

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes to Goodwill	Changes to goodwill during the nine months ended September 30, 2015 were as follows (in thousands): Balance – December 31, 2014 $ 105,764 Ellman acquisition 143 Translation adjustment (113 ) Balance – September 30, 2015 $ 105,794
Schedule of Components of Other Intangible Assets	Other intangible assets consisted of the following at September 30, 2015 and December 31, 2014 (in thousands): Developed Technology & Patents Business Licenses Customer Relationships Trade Names Other Total September 30, 2015 Cost $ 29,240 $ 384 $ 19,718 $ 18,390 $ 1,353 $ 69,085 Translation adjustment — — (39 ) — — (39 ) Accumulated amortization (12,500 ) (229 ) (7,300 ) (2,290 ) (59 ) (22,378 ) Balance, September 30, 2015 $ 16,740 $ 155 $ 12,379 $ 16,100 $ 1,294 $ 46,668 December 31, 2014 Cost $ 29,240 $ 384 $ 19,718 $ 18,390 $ 1,338 $ 69,070 Translation adjustment — 34 2 — 2 38 Accumulated amortization (7,840 ) (252 ) (5,818 ) (1,607 ) (8 ) (15,525 ) Balance, December 31, 2014 $ 21,400 $ 166 $ 13,902 $ 16,783 $ 1,332 $ 53,583
Schedule of Amortization Expenses on Intangible Assets	As of September 30, 2015, amortization expense on existing intangible assets for the next five years and beyond is as follows (in thousands): Remainder of 2015 $ 2,305 2016 8,431 2017 6,441 2018 4,925 2019 3,189 2020 and thereafter 20,401 Total $ 45,692

Warranty Costs (Tables)

Warranty Costs (Tables)	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Schedule of Change in Product Warranty Accrual	The following table provides the detail of the change in Cynosure’s product warranty accrual during the nine months ended September 30, 2015, which is a component of accrued expenses in the consolidated balance sheets (in thousands): Balance – December 31, 2014 $ 8,118 Warranty provision related to new sales 9,570 Costs incurred (9,785 ) Balance – September 30, 2015 $ 7,903

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Total Revenue by Geographic Area	The following table represents total revenue by geographic area: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) United States $ 47,341 $ 39,734 $ 136,988 $ 100,404 Europe 8,470 10,207 29,572 35,830 Asia / Pacific 16,217 15,131 51,175 47,857 Other 6,386 6,458 19,285 22,016 Total $ 78,414 $ 71,530 $ 237,020 $ 206,107
Schedule of Total Assets by Geographic Area	Total assets by geographic area are as follows: September 30, 2015 December 31, 2014 (in thousands) United States $ 462,585 $ 420,513 Europe 21,526 23,235 Asia / Pacific 19,247 19,182 Eliminations (5,591 ) (5,206 ) Total $ 497,767 $ 457,724
Schedule of Long-Lived Assets (Property and Equipment Only) by Geographic Area	Long-lived assets (property and equipment only) by geographic area are as follows: September 30, 2015 December 31, 2014 (in thousands) United States $ 34,134 $ 30,912 Europe 1,540 1,656 Asia / Pacific 2,787 1,688 Total $ 38,461 $ 34,256

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Shares	A reconciliation of basic and diluted shares is as follows (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net income $ 3,229 $ 3,074 $ 8,579 $ 8,338 Basic weighted average common shares outstanding 22,580 21,637 22,167 21,900 Weighted average common equivalent shares 300 263 372 380 Diluted weighted average common shares outstanding 22,880 21,900 22,539 22,280 Basic net income per share $ 0.14 $ 0.14 $ 0.39 $ 0.38 Diluted net income per share $ 0.14 $ 0.14 $ 0.38 $ 0.37

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Changes to Accumulated Other Comprehensive Loss	Changes to accumulated other comprehensive loss during the nine months ended September 30, 2015 were as follows (in thousands): Unrealized Gain on Marketable Securities, net of taxes Translation Adjustment Accumulated Other Comprehensive Loss Balance — December 31, 2014 $ (10 ) $ (3,853 ) $ (3,863 ) Current period other comprehensive loss 43 (1,605 ) (1,562 ) Balance — September 30, 2015 $ 33 $ (5,458 ) $ (5,425 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating Facility, Certain Equipment and Vehicles Under Operating Lease and Capital Lease Agreements with Payments	Cynosure leases the buildings portion of its U.S. operating facility and certain equipment and vehicles under capital lease agreements with payments due through May 2027. Commitments under Cynosure’s lease arrangements are as follows as of September 30, 2015 (in thousands): Operating Leases Capital Leases Remainder of 2015 $ 467 $ 45 2016 1,823 2,355 2017 1,818 2,749 2018 1,774 2,650 2019 1,375 2,629 2020 and thereafter 2,844 20,958 Total minimum lease payments $ 10,101 $ 31,386 Less amount representing interest (13,793 ) Present value of obligations under capital leases $ 17,593 Current portion of capital lease obligations 525 Capital lease obligations, net of current portion $ 17,068
Summary of Fixed Contractual Cash Obligations	Cynosure has summarized in the table below its fixed contractual cash obligations as of September 30, 2015. Total Less Than One Year One to Three Years Three to Five Years More than Five Years (in thousands) Capital lease obligations, including interest $ 31,386 $ 1,811 $ 5,325 $ 5,259 $ 18,991 Operating leases 10,101 1,834 3,605 2,334 2,328 Total contractual obligations $ 41,487 $ 3,645 $ 8,930 $ 7,593 $ 21,319

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,949,000	$ 1,976,000	$ 5,683,000	$ 5,320,000
Stock-based compensation expense capitalized to inventory			29,000	25,000
Cash received from option exercises			$ 17,700,000	$ 7,600,000
Stock options granted			452,499	849,680
Weighted average fair value of the options granted			$ 12.40	$ 10.51
Cash dividend yield			0.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted restricted stock units to employees			86,618	44,840
Vested period			3 years
Share based compensation period			3 years
Restricted Stock Units (RSUs) [Member] | Non Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted restricted stock units to employees			16,685	43,500
Vested period			1 year
Share based compensation period			1 year

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,949	$ 1,976	$ 5,683	$ 5,320
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	96	79	244	219
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	541	519	1,511	1,481
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	308	270	857	757
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,004	$ 1,108	$ 3,071	$ 2,863

Stock-Based Compensation - Su35

Stock-Based Compensation - Summary of Share-Based Compensation Arrangement Fair Value Assumptions (Detail)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate Minimum	1.39%	1.44%
Risk-free interest rate Maximum	1.72%	1.80%
Expected dividend yield	0.00%	0.00%
Expected term	4 years 9 months 18 days	4 years 7 months 6 days
Expected volatility Minimum	42.00%	43.00%
Expected volatility Maximum	43.00%	44.00%
Estimated forfeiture rate	5.00%	5.00%

Inventories - Inventories (Deta

Inventories - Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 21,032	$ 16,875
Work in process	3,522	3,526
Finished goods	49,756	38,917
Inventories, Total	$ 74,310	$ 59,318

Fair Value - Measurement of Fai

Fair Value - Measurement of Fair Value Hierarchy for Financial Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	$ 80,150	$ 59,997
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	5,801	1,766
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	74,349	58,231
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	5,801	1,753
Money Market Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	5,801	1,753
State and Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	59,826	47,744
State and Municipal Bonds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	59,826	47,744
Treasuries and Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	14,523	8,486
Treasuries and Government Agencies [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	$ 14,523	8,486
Corporate Obligations and Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets		2,001
Corporate Obligations and Commercial Paper [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets		2,001
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets		13
Equity Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets		$ 13

Fair Value - Measurement of F38

Fair Value - Measurement of Fair Value Hierarchy for Financial Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 80,150	$ 59,997
Treasuries and Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	14,523	$ 8,486
Treasuries and Government Agencies [Member] | Cash and Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 2,500

Short and Long-Term Marketabl39

Short and Long-Term Marketable Securities - Additional Information (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Investments, Debt and Equity Securities [Abstract]
Available for sale securities in debt	$ 74,349

Short and Long-Term Marketabl40

Short and Long-Term Marketable Securities - Schedule of Marketable Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Market Value	$ 74,349	$ 58,244
Amortized Cost	74,300	58,273
Unrealized Gains	51	10
Unrealized Losses	(2)	(39)
Total marketable securities	71,849	58,244
Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	2,500
Amortized Cost	2,500
Cash Equivalents [Member] | Treasuries and Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	2,500
Amortized Cost	2,500
Short-Term Marketable Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	38,429	32,055
Amortized Cost	38,412	32,052
Unrealized Gains	17	8
Unrealized Losses		(5)
Short-Term Marketable Securities [Member] | Corporate Obligations and Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value		2,001
Amortized Cost		2,001
Short-Term Marketable Securities [Member] | State and Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	36,929	26,041
Amortized Cost	36,912	26,033
Unrealized Gains	17	8
Short-Term Marketable Securities [Member] | Treasuries and Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	1,500	4,000
Amortized Cost	1,500	4,000
Short-Term Marketable Securities [Member] | Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value		13
Amortized Cost		18
Unrealized Losses		(5)
Long-Term Marketable Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	33,420	26,189
Amortized Cost	33,388	26,221
Unrealized Gains	34	2
Unrealized Losses	(2)	(34)
Long-Term Marketable Securities [Member] | Corporate Obligations and Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value		4,486
Amortized Cost		4,500
Unrealized Losses		(14)
Long-Term Marketable Securities [Member] | State and Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	22,897	21,703
Amortized Cost	22,873	21,721
Unrealized Gains	26	2
Unrealized Losses	(2)	$ (20)
Long-Term Marketable Securities [Member] | Treasuries and Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Market Value	10,523
Amortized Cost	10,515
Unrealized Gains	$ 8

Short and Long-Term Marketabl41

Short and Long-Term Marketable Securities - Schedule of Available-for-Sale Debt Securities Mature (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Total	$ 74,349
Less Than One Year	40,929
One to Five Years	33,420
More than Five Years	0
State and Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Total	59,826
Less Than One Year	36,929
One to Five Years	22,897
More than Five Years	0
Treasuries and Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Total	14,523
Less Than One Year	4,000
One to Five Years	10,523
More than Five Years	$ 0

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 05, 2014
Business Acquisition [Line Items]
Goodwill	$ 105,794	$ 105,764
Ellman International, Inc. (Ellman) [Member]
Business Acquisition [Line Items]
Cash consideration			$ 13,200
Business acquisition effective date of acquisition	Sep. 5, 2014
License transfer agreement purchase price			4,200
Goodwill	$ 6,700	$ 6,600	$ 6,741

Acquisitions - Estimated Fair V

Acquisitions - Estimated Fair Value of Net Assets Acquired (Detail) - USD ($) $ in Thousands	Sep. 05, 2014	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Cash paid		$ 13,235
Assets (liabilities) acquired:
Goodwill			$ 105,794	$ 105,764
Ellman International, Inc. (Ellman) [Member]
Business Acquisition [Line Items]
Cash paid	$ 13,235
Total	13,235
Assets (liabilities) acquired:
Accounts receivable	2,144
Inventory	3,542
Prepaid expenses and other assets	488
Property and equipment	612
Intangible assets	6,800
Goodwill	6,741		$ 6,700	$ 6,600
Accounts payable	(9)
Accrued expenses	(2,469)
Deferred revenue	(454)
Other noncurrent liability	(4,160)
Total	$ 13,235

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets - Schedule of Changes to Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance - December 31, 2014	$ 105,764
Ellman acquisition	143
Translation adjustment	(113)
Balance - September 30, 2015	$ 105,794

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets - Schedule of Components of Other Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Cost	$ 69,085	$ 69,070
Translation adjustment	(39)	38
Accumulated amortization	(22,378)	(15,525)
Other intangible assets, net	46,668	53,583
Developed Technology & Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	29,240	29,240
Accumulated amortization	(12,500)	(7,840)
Other intangible assets, net	16,740	21,400
Business Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	384	384
Translation adjustment		34
Accumulated amortization	(229)	(252)
Other intangible assets, net	155	166
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	19,718	19,718
Translation adjustment	(39)	2
Accumulated amortization	(7,300)	(5,818)
Other intangible assets, net	12,379	13,902
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	18,390	18,390
Accumulated amortization	(2,290)	(1,607)
Other intangible assets, net	16,100	16,783
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	1,353	1,338
Translation adjustment		2
Accumulated amortization	(59)	(8)
Other intangible assets, net	$ 1,294	$ 1,332

Goodwill and Other Intangible46

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2.3	$ 2.2	$ 6.9	$ 6.4
Indefinite-life intangible assets	$ 1		$ 1

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets - Schedule of Amortization Expenses on Intangible Assets (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2015	$ 2,305
2,016	8,431
2,017	6,441
2,018	4,925
2,019	3,189
2020 and thereafter	20,401
Total	$ 45,692

Warranty Costs - Additional Inf

Warranty Costs - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Warranty on end-user sales	1 year

Warranty Costs - Schedule of Ch

Warranty Costs - Schedule of Change in Product Warranty Accrual (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Guarantees [Abstract]
Balance, beginning of period	$ 8,118
Warranty provision related to new sales	9,570
Costs incurred	(9,785)
Balance, end of period	$ 7,903

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015SegmentCountry
Segment Reporting [Abstract]
Number of operating segments	1
Number of individual countries with greater than 10% of total revenue, assets or long lived assets | Country	0
Percentage of total revenue	10.00%

Segment Information - Schedule

Segment Information - Schedule of Total Revenue by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 78,414	$ 71,530	$ 237,020	$ 206,107
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	47,341	39,734	136,988	100,404
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	8,470	10,207	29,572	35,830
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	16,217	15,131	51,175	47,857
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 6,386	$ 6,458	$ 19,285	$ 22,016

Segment Information - Schedul52

Segment Information - Schedule of Total Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	$ 497,767	$ 457,724
Reportable Geographical Components [Member] | United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	462,585	420,513
Reportable Geographical Components [Member] | Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	21,526	23,235
Reportable Geographical Components [Member] | Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	19,247	19,182
Eliminations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	$ (5,591)	$ (5,206)

Segment Information - Schedul53

Segment Information - Schedule of Long-Lived Assets (Property and Equipment Only) by Geographic Area (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 38,461	$ 34,256
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	34,134	30,912
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,540	1,656
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 2,787	$ 1,688

Net Income Per Common Share - S

Net Income Per Common Share - Schedule of Reconciliation of Basic and Diluted Shares (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 3,229	$ 3,074	$ 8,579	$ 8,338
Basic weighted average common shares outstanding	22,580	21,637	22,167	21,900
Weighted average common equivalent shares	300	263	372	380
Diluted weighted average common shares outstanding	22,880	21,900	22,539	22,280
Basic net income per share	$ 0.14	$ 0.14	$ 0.39	$ 0.38
Diluted net income per share	$ 0.14	$ 0.14	$ 0.38	$ 0.37

Net Income Per Common Share - A

Net Income Per Common Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock Options and Restricted Stock Units [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Outstanding options and restricted stock units to purchase common shares	0.5	1.7	1.1	1.5

Accumulated Other Comprehensi56

Accumulated Other Comprehensive Loss - Changes to Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized Gain on Marketable Securities, net of taxes, Beginning Balance			$ (10)
Unrealized Gain on Marketable Securities, net of taxes, Current period other comprehensive loss	$ 37	$ (12)	43	$ (16)
Unrealized Gain on Marketable Securities, net of taxes, Ending Balance	33		33
Translation Adjustment, Beginning Balance			(3,853)
Translation Adjustment, Current period other comprehensive loss	(516)	(1,429)	(1,605)	(1,249)
Translation Adjustment, Ending Balance	(5,458)		(5,458)
Accumulated Other Comprehensive Loss, Beginning Balance			(3,863)
Accumulated Other Comprehensive Loss, Current period other comprehensive loss	(479)	$ (1,441)	(1,562)	$ (1,265)
Accumulated Other Comprehensive Loss, Ending Balance	$ (5,425)		$ (5,425)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Deferred Tax Assets And Liabilities Classification [Line Items]
(Benefit) provision for income taxes	$ 962		$ 1,007		$ 3,295	$ 3,074
Effective tax rate	23.00%		25.00%		28.00%	27.00%
Discrete tax benefits related to federal and state research credits	$ 500
Unrecognized tax benefits	$ 800				$ 800		$ 800
Spain [Member]
Deferred Tax Assets And Liabilities Classification [Line Items]
Discrete tax benefits related to release of valuation allowance				$ 300
Palomar Medical Technologies, Inc. [Member] | Japan [Member]
Deferred Tax Assets And Liabilities Classification [Line Items]
Discrete tax benefits related to release of valuation allowance		$ 500

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Operating lease rent expense	$ 0.5	$ 0.6	$ 1.5	$ 2.5
Operating lease expiration period			2027-05

Commitments and Contingencies59

Commitments and Contingencies - Operating Facility, Certain Equipment and Vehicles Under Operating Lease and Capital Lease Agreements with Payments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2015	$ 467
2,016	1,823
2,017	1,818
2,018	1,774
2,019	1,375
2020 and thereafter	2,844
Total minimum lease payments	10,101
Remainder of 2015	45
2,016	2,355
2,017	2,749
2,018	2,650
2,019	2,629
2020 and thereafter	20,958
Total minimum lease payments	31,386
Less amount representing interest	(13,793)
Present value of obligations under capital leases	17,593
Current portion of capital lease obligations	525	$ 137
Capital lease obligations, net of current portion	$ 17,068	$ 16,088

Commitments and Contingencies60

Commitments and Contingencies - Summary of Fixed Contractual Cash Obligations (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Contractual Obligation [Line Items]
Capital lease obligations, including interest	$ 31,386
Operating leases	10,101
Total contractual obligations	41,487
Less Than One Year [Member]
Contractual Obligation [Line Items]
Capital lease obligations, including interest	1,811
Operating leases	1,834
Total contractual obligations	3,645
One To Three Years [Member]
Contractual Obligation [Line Items]
Capital lease obligations, including interest	5,325
Operating leases	3,605
Total contractual obligations	8,930
Three To Five Years [Member]
Contractual Obligation [Line Items]
Capital lease obligations, including interest	5,259
Operating leases	2,334
Total contractual obligations	7,593
More Than Five Years [Member]
Contractual Obligation [Line Items]
Capital lease obligations, including interest	18,991
Operating leases	2,328
Total contractual obligations	$ 21,319