Anika Therapeutics (ANIK) 10-Q 26 Jul 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 18, 2019
Document Information [Line Items]
Entity Registrant Name	Anika Therapeutics, Inc.
Entity Central Index Key	0000898437
Trading Symbol	anik
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		13,782,928
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 69,407	$ 89,042
Investments	72,045	69,972
Accounts receivable, net of reserves of $1,089 and $1,525 at June 30, 2019 and December 31, 2018, respectively	23,073	20,775
Inventories, net	22,986	21,300
Prepaid expenses and other current assets	2,413	1,854
Total current assets	189,924	202,943
Property and equipment, net	52,960	54,111
Operating lease right-of-use assets	23,495
Other long-term assets	4,884	4,897
Intangible assets, net	8,303	9,191
Goodwill	7,798	7,851
Total assets	287,364	278,993
Current liabilities:
Accounts payable	2,287	3,143
Accrued expenses and other current liabilities	8,101	8,146
Total current liabilities	10,388	11,289
Other long-term liabilities	373	550
Deferred tax liability	3,683	3,542
Operating lease liabilities	21,974
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.01 par value; 1,250 shares authorized, no shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	0	0
Common stock, $0.01 par value; 90,000 shares authorized, 13,785 and 14,210 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	138	142
Additional paid-in-capital	24,329	50,763
Accumulated other comprehensive loss	(5,696)	(5,526)
Retained earnings	232,175	218,233
Total stockholders’ equity	250,946	263,612
Total liabilities and stockholders’ equity	$ 287,364	$ 278,993

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts receivable, reserves	$ 1,089	$ 1,525
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,250	1,250
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	90,000	90,000
Common stock, shares issued (in shares)	13,785	14,210
Common stock, shares outstanding (in shares)	13,785	14,210

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue	$ 30,418	$ 30,548	$ 55,141	$ 51,812
Operating expenses:
Cost of product revenue	6,836	8,152	14,147	15,996
Research & development	4,165	4,733	8,423	9,895
Selling, general & administrative	7,502	6,417	15,174	22,507
Total operating expenses	18,503	19,302	37,744	48,398
Income from operations	11,915	11,246	17,397	3,414
Interest and other income, net	533	290	1,031	385
Income before income taxes	12,448	11,536	18,428	3,799
Provision for income taxes	3,013	1,444	4,486	394
Net income	$ 9,435	$ 10,092	$ 13,942	$ 3,405
Basic net income per share:
Net income (in dollars per share)	$ 0.68	$ 0.69	$ 0.99	$ 0.23
Basic weighted average common shares outstanding (in shares)	13,916	14,652	14,054	14,666
Diluted net income per share:
Net income (in dollars per share)	$ 0.67	$ 0.68	$ 0.98	$ 0.23
Diluted weighted average common shares outstanding (in shares)	14,088	14,915	14,203	15,045
Net income	$ 9,435	$ 10,092	$ 13,942	$ 3,405
Foreign currency translation adjustment	145	(951)	(170)	(331)
Comprehensive income	9,580	9,141	13,772	3,074
Product [Member]
Revenue	30,413	30,542	55,130	51,800
Service [Member]
Revenue	$ 5	$ 6	$ 11	$ 12

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017	14,688
Balance at Dec. 31, 2017	$ 147	$ 68,617	$ 199,511	$ (4,784)	$ 263,491
Issuance of common stock for equity awards (in shares)	89
Issuance of common stock for equity awards	$ 1	511			512
Retirement of common stock for minimum tax withholdings (in shares)	(32)
Retirement of common stock for minimum tax withholdings	$ (1)	(1,735)			(1,736)
Stock-based compensation expense		7,565			7,565
Net income			(6,686)		(6,686)
Other comprehensive Income (loss)				620	620
Issuance of common stock for equity awards (in shares)	89
Balance (in shares) at Mar. 31, 2018	14,745
Balance at Mar. 31, 2018	$ 147	74,958	192,825	(4,164)	263,766
Balance (in shares) at Dec. 31, 2017	14,688
Balance at Dec. 31, 2017	$ 147	68,617	199,511	(4,784)	263,491
Net income					3,405
Balance (in shares) at Jun. 30, 2018	14,584
Balance at Jun. 30, 2018	$ 146	48,656	202,916	(5,115)	246,603
Balance (in shares) at Mar. 31, 2018	14,745
Balance at Mar. 31, 2018	$ 147	74,958	192,825	(4,164)	263,766
Issuance of common stock for equity awards (in shares)	273
Issuance of common stock for equity awards	$ 3	2,372			2,375
Stock-based compensation expense		1,322			1,322
Net income			10,091		10,092
Other comprehensive Income (loss)				(951)	(951)
Issuance of common stock for equity awards (in shares)	273
Repurchase of common stock (in shares)	(434)
Repurchase of common stock	$ (4)	(29,996)			(30,000)
Balance (in shares) at Jun. 30, 2018	14,584
Balance at Jun. 30, 2018	$ 146	48,656	202,916	(5,115)	246,603
Balance (in shares) at Dec. 31, 2018	14,210
Balance at Dec. 31, 2018	$ 142	50,763	218,233	(5,526)	263,612
Issuance of common stock for equity awards (in shares)	7
Issuance of common stock for equity awards		5			5
Retirement of common stock for minimum tax withholdings (in shares)	(3)
Retirement of common stock for minimum tax withholdings		(124)			(124)
Stock-based compensation expense		1,386			1,386
Net income			4,507		4,507
Other comprehensive Income (loss)				(315)	(315)
Issuance of common stock for equity awards (in shares)	7
Balance (in shares) at Mar. 31, 2019	14,214
Balance at Mar. 31, 2019	$ 142	52,030	222,740	(5,841)	269,071
Balance (in shares) at Dec. 31, 2018	14,210
Balance at Dec. 31, 2018	$ 142	50,763	218,233	(5,526)	263,612
Net income					13,942
Balance (in shares) at Jun. 30, 2019	13,785
Balance at Jun. 30, 2019	$ 138	24,329	232,175	(5,696)	250,946
Balance (in shares) at Mar. 31, 2019	14,214
Balance at Mar. 31, 2019	$ 142	52,030	222,740	(5,841)	269,071
Issuance of common stock for equity awards (in shares)	30
Issuance of common stock for equity awards	$ 1	851			852
Stock-based compensation expense		1,443			1,443
Net income			9,435		9,435
Other comprehensive Income (loss)				145	145
Issuance of common stock for equity awards (in shares)	30
Forfeiture of restricted stock (in shares)	(7)
Forfeiture of restricted stock
Repurchase of common stock (in shares)	(452)
Repurchase of common stock	$ (5)	(29,995)			(30,000)
Balance (in shares) at Jun. 30, 2019	13,785
Balance at Jun. 30, 2019	$ 138	$ 24,329	$ 232,175	$ (5,696)	$ 250,946

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 13,942	$ 3,405
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,943	2,920
Non-cash operating lease cost	591
Loss on disposal of fixed assets	721	172
Loss on impairment of intangible asset	281
Stock-based compensation expense	2,829	8,887
Deferred income taxes	120	63
Provision for doubtful accounts		(6)
Provision for inventory	601	3,993
Accretion to amortized cost of investments	(757)
Changes in operating assets and liabilities:
Accounts receivable	(2,293)	1,926
Inventories	(3,033)	(5,990)
Prepaid expenses, other current and long-term assets	356	790
Accounts payable	(906)	(194)
Operating lease liabilities	(534)
Accrued expenses, other current and long-term liabilities	(1,300)	(100)
Income taxes	371	(1,803)
Net cash provided by operating activities	13,932	14,063
Cash flows from investing activities:
Proceeds from maturity of investments	72,594	24,750
Purchase of investments	(73,896)	(14,000)
Purchase of property and equipment	(2,131)	(3,283)
Net cash (used in) provided by investing activities	(3,433)	7,467
Cash flows from financing activities:
Repurchases of common stock	(30,000)	(30,000)
Cash paid for tax withheld on vested restricted stock awards	(125)	(1,735)
Proceeds from exercise of equity awards	6	2,886
Net cash used in financing activities	(30,119)	(28,849)
Exchange rate impact on cash	(15)	110
Decrease in cash and cash equivalents	(19,635)	(7,209)
Cash and cash equivalents at beginning of period	89,042	133,256
Cash and cash equivalents at end of period	69,407	126,047
Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for operating lease liabilities as of January 1, 2019	24,110
Non-cash activities:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 211	$ 462

Note 1 - Nature of Business

Note 1 - Nature of Business	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Nature of Operations [Text Block]	1. Nature of Business Anika Therapeutics, Inc. (the “Company”) is a global, integrated orthopedic and regenerative medicines company committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along the continuum of care, from palliative pain management to regenerative tissue repair. The Company has over two The Company is subject to risks common to companies in the biotechnology and medical device industries including, but not

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and related notes have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and in accordance with accounting principles generally accepted in the United States (“US GAAP”). The financial statements include the accounts of Anika Therapeutics, Inc. and its subsidiaries. Inter-company transactions and balances have been eliminated. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to SEC rules and regulations relating to interim financial statements. The December 31, 2018 The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the Company’s annual financial statements filed with its Annual Report on Form 10 December 31, 2018. three six June 30, 2019 not December 31, 2019. Recent Accounting Pronouncements In February 2016, No. 2016 02, Leases 2016 02 December 15, 2018. January 1, 2019 not not 12 In August 2018, No. 2018 15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350 40 No. 2015 05, Customers Accounting for Fees in a Cloud Computing Agreement 2018 15 350 40 2018 15 December 15, 2019. 2018 15

Note 3 - Revenue

Note 3 - Revenue	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Revenue The Company receives payments from its customers based on billing schedules established in each contract. Up-front payments and fees are recorded as deferred revenue upon receipt or when due and may June 30, 2019, $50 The Company has agreements with DePuy Synthes Mitek Sports Medicine, a division of DePuy Orthopaedics, Inc. (“Mitek”) that include the grant of certain licenses, performance of development services, and supply of product. Revenues from the agreements with Mitek represent 68% 70% three six June 30, 2019, may Product revenue by product group was as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Orthobiologics $ 26,462 $ 26,192 $ 48,210 $ 45,681 Surgical 2,101 1,263 3,493 2,509 Dermal 444 623 573 83 Other 1,406 2,464 2,854 3,527 Product Revenue $ 30,413 $ 30,542 $ 55,130 $ 51,800 Total revenue by geographic location was as follows: Three Months Ended June 30, 2019 2018 Total Percentage of Total Percentage of Geographic Location: United States $ 22,937 76 % $ 24,773 81 % Europe 4,927 16 % 3,498 11 % Other 2,554 8 % 2,277 8 % Total Revenue $ 30,418 100 % $ 30,548 100 % Six Months Ended June 30, 2019 2018 Total Percentage of Total Percentage of Geographic Location: United States $ 43,026 78 % $ 41,682 81 % Europe 7,454 14 % 5,889 11 % Other 4,661 8 % 4,241 8 % Total Revenue $ 55,141 100 % $ 51,812 100 % On May 2, 2018, not no three March 31, 2018, $1.1 $0.9 June 30, 2018 fourth 2018, December 2018.

Note 4 - Investments

Note 4 - Investments	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	4. Investments All of the Company’s investments are carried at fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income, net of related income taxes. The Company held investments, including U.S. treasury bills totaling $72.0 $70.0 June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018.

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. Fair Value Measurements The Company’s investments are all classified within Level 1 not The fair value hierarchy of the Company's cash equivalents and investments at fair value was as follows: Fair Value Measurements at Reporting Date Using June 30, 2019 Quoted Prices in Significant Other Significant Amortized Cost Cash equivalents: Money market funds $ 1,305 $ 1,305 $ - $ - $ 1,305 Investments: U.S. treasury bills $ 72,045 $ 72,045 $ - $ - $ 72,032 Fair Value Measurements at Reporting Date Using December 31, 2018 Quoted Prices in Significant Other Significant Amortized Cost Cash equivalents: Money market funds $ 4,984 $ 4,984 $ - $ - $ 4,984 Investments: U.S. treasury bills $ 69,972 $ 69,972 $ - $ - $ 69,972

Note 6 - Equity Incentive Plan

Note 6 - Equity Incentive Plan	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	6. Equity Incentive Plan The Company estimates the fair value of stock options and stock appreciation rights (“SARs”) using the Black-Scholes valuation model. Fair value of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) are measured by the grant-date price of the Company’s shares. Fair value of performance restricted stock units (“PSUs”) is measured by the grant-date price of the Company’s shares with corresponding compensation cost recognized over the requisite service period. Compensation cost is recognized based on the estimated probabilities of achieving the performance goals. Changes to the probability assessment and the estimated shares expected to vest will result in adjustments to the related compensation cost that will be recorded in the period of the change. If the performance targets are not no The fair value of each stock option award during the six June 30, 2019 2018 Six Months Ended June 30, 2019 2018 Risk free interest rate 2.18% - 2.54% 2.15% - 2.75% Expected volatility 44.05% - 44.72% 37.12% - 40.81% Expected life (years) 3.5 4.0 - 4.5 Expected dividend yield 0.00% 0.00% The Company recorded $1.4 $1.3 three June 30, 2019 2018, $2.8 $8.9 six June 30, 2019 2018, March 9, 2018, one $6.2 three March 31, 2018. The Company presents the expenses related to stock-based compensation awards in the same expense line items as cash compensation paid to each of its employees as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Cost of product revenue $ 82 $ (28 ) $ 174 $ (244 ) Research & development 91 241 268 451 Selling, general & administrative 1,270 1,109 2,387 8,680 Total stock-based compensation expense $ 1,443 $ 1,322 $ 2,829 $ 8,887 On June 18, 2019, 2017 “2017 2017 1,500,000 1,200,000 2,700,000. No 2017 The following table sets forth share information for stock-based compensation awards granted and exercised during the three six June 30, 2019 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Grants: Stock Options 27,325 17,500 131,617 209,800 RSAs - - - 64,578 RSUs 8,000 - 173,507 8,130 PSUs - - 114,500 - Exercises: Stock Options 22,400 273,123 22,900 284,548 SARs - - - - During the three six June 30, 2019, three 30% 2019 70% 2021 $0.3 $0.4 three six June 30, 2019,

Note 7 - Earnings Per Share ("E

Note 7 - Earnings Per Share ("EPS")	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	7. Earnings Per Share (“EPS”) Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not The following table provides share information used in the calculation of the Company's basic and diluted earnings per share (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Shares used in the calculation of basic earnings per share 13,916 14,652 14,054 14,666 Effect of dilutive securities: Stock options, SARs, RSAs, RSUs and PSUs 172 263 149 379 Diluted shares used in the calculation of earnings per share 14,088 14,915 14,203 15,045 Stock options of 1.0 0.7 three June 30, 2019 2018, not 1.0 0.6 six June 30, 2019 2018 not On May 2, 2019, $50.0 $30.0 $20.0 June 30, 2019, no May 7, 2019, $30.0 $30.0 0.5 May 8, 2019 $39.85 60% As of June 30, 2019, $12.0 first 2020. may June 30, 2019, 0.3 not

Note 8 - Inventories

Note 8 - Inventories	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	8. Inventories Inventories consist of the following: June 30, December 31, Raw materials $ 12,381 $ 13,688 Work-in-process 6,399 4,626 Finished goods 8,747 6,819 Total $ 27,527 $ 25,133 Inventories $ 22,986 $ 21,300 Other long-term assets $ 4,541 $ 3,833 Other long-term assets include $4.5 $3.8 one June 30, 2019 December 31, 2018,

Note 9 - Intangible Assets

Note 9 - Intangible Assets	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	9. Intangible Assets Intangible assets as of June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Gross Value Accumulated Impairment Accumulated Net Accumulated Accumulated Net Useful Developed technology $ 17,100 $ (2,864 ) $ (281 ) $ (9,189 ) $ 4,766 $ (2,824 ) $ (8,672 ) $ 5,604 15 In-process research & development 4,406 (1,191 ) - - 3,215 (1,168 ) - 3,238 Indefinite Distributor relationships 4,700 (415 ) - (4,285 ) - (415 ) (4,285 ) - 5 Patents 1,000 (172 ) - (506 ) 322 (169 ) (482 ) 349 16 Elevess trade name 1,000 - - (1,000 ) - - (1,000 ) - 9 Total $ 28,206 $ (4,642 ) $ (281 ) $ (14,980 ) $ 8,303 $ (4,576 ) $ (14,439 ) $ 9,191 The aggregate amortization expense related to intangible assets was $0.2 0.3 three June 30, 2019 2018, $0.5 six June 30, 2019 2018. The Company recorded a $0.3 three March 31, 2019. January 2015. March 2019, not not Through June 30, 2019, not may not not $0.1

Note 10 - Goodwill

Note 10 - Goodwill	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Goodwill Disclosure [Text Block]	10. Goodwill The Company completed its annual impairment review as of November 30, 2018 no June 30, 2019, no may not June 30, Balance at January 1, 2019 $ 7,851 Effect of foreign currency adjustments (53 ) Balance at June 30, 2019 $ 7,798

Note 11 - Accrued Expenses

Note 11 - Accrued Expenses	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	11. Accrued Expenses Accrued expenses consist of the following: June 30, December 31, Compensation and related expenses $ 3,584 $ 4,446 Professional fees 1,609 1,989 Operating lease liability - current 1,101 - Income taxes payable 757 385 Research grants 398 400 Clinical trial costs 320 577 Other 332 349 Total $ 8,101 $ 8,146 Included in Compensation and related expenses as of June 30, 2019 March 9, 2018. $1.7 18 March 9, 2018, 6, June 30, 2019 2016 02 January 1, 2019 12.

Note 12 - Operating Leases

Note 12 - Operating Leases	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	12. Operating Leases The Company adopted ASU 2016 02 January 1, 2019 not no 2016 02 3” 12 no not 2016 02. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the circumstances present. Leases with a term greater than one not not not not may The Company has two 134,000 33,000 2022 2038, 2032, 2026 The Company identified and assessed significant assumptions in recognizing the right-of-use asset and lease liability on January 1, 2019 Incremental borrowing rate not not June 30, 2019 4.1%. Lease term. no June 30, 2019 17.3 The components of lease expense and other information are as follows: For the three months ended For the six months ended Lease cost Operating lease cost $ 521 $ 1,043 Short-term lease cost 4 6 Variable lease cost 60 112 Total lease cost $ 585 $ 1,161 Other information Operating cash flows from operating leases $ 497 $ 994 Future commitments due under these lease agreements as of June 30, 2019 Operating Lease Obligation As Of Years ending December 31, June 30, 2019 2019 $ 994 2020 2,025 2021 2,024 2022 1,981 2023 1,965 Thereafter 23,530 Present value adjustment (9,444 ) Present value of lease payments 23,075 Less current portion included in Accrued expenses and other current liabilities (1,101 ) Operating lease liabilities $ 21,974 The following table summarizes the future minimum payments due for the Company’s operating leases under the prior lease guidance without the hindsight practical expedient for each of the next five December 31, 2018: 2019 $ 1,879 2020 1,917 2021 1,924 2022 1,672 2023 414 2024 and thereafter 897 Total $ 8,703

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	13. Commitments and Contingencies In certain of its contracts, the Company warrants to its customers that the products it manufactures conform to the product specifications as in effect at the time of delivery of the specific product. The Company may not third no June 30, 2019 December 31, 2018 no The Company is also involved from time-to-time in various legal proceedings arising in the normal course of business. Although the outcomes of these legal proceedings are inherently difficult to predict, the Company does not

Note 14 - Income Taxes

Note 14 - Income Taxes	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. Income Taxes The provision for income taxes was $3.0 $4.5 three six June 30, 2019, 24.2% 24.3%, $1.4 $0.4 three six June 30, 2018, 12.5% 10.4%, three six June 30, 2019, 2018, March 9, 2018 June 2018 three six June 30, 2019. The Company files income tax returns in the United States on a federal basis, in certain U.S. states, and in Italy. The associated tax filings remain subject to examination by applicable tax authorities for a certain length of time following the tax year to which those filings relate. In connection with the preparation of the financial statements, the Company assesses whether it was more likely than not not not” not June 30, 2019 December 31, 2018.

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Orthobiologics $ 26,462 $ 26,192 $ 48,210 $ 45,681 Surgical 2,101 1,263 3,493 2,509 Dermal 444 623 573 83 Other 1,406 2,464 2,854 3,527 Product Revenue $ 30,413 $ 30,542 $ 55,130 $ 51,800
Schedule of Revenue and Operating Income by Geographical Areas [Table Text Block]	Three Months Ended June 30, 2019 2018 Total Percentage of Total Percentage of Geographic Location: United States $ 22,937 76 % $ 24,773 81 % Europe 4,927 16 % 3,498 11 % Other 2,554 8 % 2,277 8 % Total Revenue $ 30,418 100 % $ 30,548 100 % Six Months Ended June 30, 2019 2018 Total Percentage of Total Percentage of Geographic Location: United States $ 43,026 78 % $ 41,682 81 % Europe 7,454 14 % 5,889 11 % Other 4,661 8 % 4,241 8 % Total Revenue $ 55,141 100 % $ 51,812 100 %

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements at Reporting Date Using June 30, 2019 Quoted Prices in Significant Other Significant Amortized Cost Cash equivalents: Money market funds $ 1,305 $ 1,305 $ - $ - $ 1,305 Investments: U.S. treasury bills $ 72,045 $ 72,045 $ - $ - $ 72,032 Fair Value Measurements at Reporting Date Using December 31, 2018 Quoted Prices in Significant Other Significant Amortized Cost Cash equivalents: Money market funds $ 4,984 $ 4,984 $ - $ - $ 4,984 Investments: U.S. treasury bills $ 69,972 $ 69,972 $ - $ - $ 69,972

Note 6 - Equity Incentive Plan

Note 6 - Equity Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2019 2018 Risk free interest rate 2.18% - 2.54% 2.15% - 2.75% Expected volatility 44.05% - 44.72% 37.12% - 40.81% Expected life (years) 3.5 4.0 - 4.5 Expected dividend yield 0.00% 0.00%
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Cost of product revenue $ 82 $ (28 ) $ 174 $ (244 ) Research & development 91 241 268 451 Selling, general & administrative 1,270 1,109 2,387 8,680 Total stock-based compensation expense $ 1,443 $ 1,322 $ 2,829 $ 8,887
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Grants: Stock Options 27,325 17,500 131,617 209,800 RSAs - - - 64,578 RSUs 8,000 - 173,507 8,130 PSUs - - 114,500 - Exercises: Stock Options 22,400 273,123 22,900 284,548 SARs - - - -

Note 7 - Earnings Per Share (_2

Note 7 - Earnings Per Share ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Shares used in the calculation of basic earnings per share 13,916 14,652 14,054 14,666 Effect of dilutive securities: Stock options, SARs, RSAs, RSUs and PSUs 172 263 149 379 Diluted shares used in the calculation of earnings per share 14,088 14,915 14,203 15,045

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, Raw materials $ 12,381 $ 13,688 Work-in-process 6,399 4,626 Finished goods 8,747 6,819 Total $ 27,527 $ 25,133 Inventories $ 22,986 $ 21,300 Other long-term assets $ 4,541 $ 3,833

Note 9 - Intangible Assets (Tab

Note 9 - Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	June 30, 2019 December 31, 2018 Gross Value Accumulated Impairment Accumulated Net Accumulated Accumulated Net Useful Developed technology $ 17,100 $ (2,864 ) $ (281 ) $ (9,189 ) $ 4,766 $ (2,824 ) $ (8,672 ) $ 5,604 15 In-process research & development 4,406 (1,191 ) - - 3,215 (1,168 ) - 3,238 Indefinite Distributor relationships 4,700 (415 ) - (4,285 ) - (415 ) (4,285 ) - 5 Patents 1,000 (172 ) - (506 ) 322 (169 ) (482 ) 349 16 Elevess trade name 1,000 - - (1,000 ) - - (1,000 ) - 9 Total $ 28,206 $ (4,642 ) $ (281 ) $ (14,980 ) $ 8,303 $ (4,576 ) $ (14,439 ) $ 9,191

Note 10 - Goodwill (Tables)

Note 10 - Goodwill (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Goodwill [Table Text Block]	June 30, Balance at January 1, 2019 $ 7,851 Effect of foreign currency adjustments (53 ) Balance at June 30, 2019 $ 7,798

Note 11 - Accrued Expenses (Tab

Note 11 - Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, December 31, Compensation and related expenses $ 3,584 $ 4,446 Professional fees 1,609 1,989 Operating lease liability - current 1,101 - Income taxes payable 757 385 Research grants 398 400 Clinical trial costs 320 577 Other 332 349 Total $ 8,101 $ 8,146

Note 12 - Operating Leases (Tab

Note 12 - Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Lease, Cost [Table Text Block]	For the three months ended For the six months ended Lease cost Operating lease cost $ 521 $ 1,043 Short-term lease cost 4 6 Variable lease cost 60 112 Total lease cost $ 585 $ 1,161 Other information Operating cash flows from operating leases $ 497 $ 994
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Operating Lease Obligation As Of Years ending December 31, June 30, 2019 2019 $ 994 2020 2,025 2021 2,024 2022 1,981 2023 1,965 Thereafter 23,530 Present value adjustment (9,444 ) Present value of lease payments 23,075 Less current portion included in Accrued expenses and other current liabilities (1,101 ) Operating lease liabilities $ 21,974
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	2019 $ 1,879 2020 1,917 2021 1,924 2022 1,672 2023 414 2024 and thereafter 897 Total $ 8,703

Note 3 - Revenue (Details Textu

Note 3 - Revenue (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2019	Mar. 31, 2018	Jun. 30, 2019	Dec. 31, 2017
Contract with Customer, Liability, Total	$ 50		$ 50
Inventory Recall Expense		$ 1,100		$ 900
DePuy Mitek Inc [Member]
Revenues From Agreements as Percent of Total Revenue	68.00%		70.00%

Note 3 - Revenue - Product Reve

Note 3 - Revenue - Product Revenue by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue	$ 30,418	$ 30,548	$ 55,141	$ 51,812
Orthobiologics [Member]
Revenue	26,462	26,192	48,210	45,681
Surgical [Member]
Revenue	2,101	1,263	3,493	2,509
Dermal [Member]
Revenue	444	623	573	83
Manufactured Product, Other [Member]
Revenue	1,406	2,464	2,854	3,527
Product [Member]
Revenue	$ 30,413	$ 30,542	$ 55,130	$ 51,800

Note 3 - Revenue - Total Revenu

Note 3 - Revenue - Total Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue	$ 30,418	$ 30,548	$ 55,141	$ 51,812
Percentage of Revenue	100.00%	100.00%	100.00%	100.00%
UNITED STATES
Revenue	$ 22,937	$ 24,773	$ 43,026	$ 41,682
Percentage of Revenue	76.00%	81.00%	78.00%	81.00%
Europe [Member]
Revenue	$ 4,927	$ 3,498	$ 7,454	$ 5,889
Percentage of Revenue	16.00%	11.00%	14.00%	11.00%
Other Location [Member]
Revenue	$ 2,554	$ 2,277	$ 4,661	$ 4,241
Percentage of Revenue	8.00%	8.00%	8.00%	8.00%

Note 4 - Investments (Details T

Note 4 - Investments (Details Textual) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
US Treasury Bill Securities [Member]
Available-for-sale Securities, Total	$ 72	$ 70

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investments	$ 72,045	$ 69,972
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member]
Cash equivalents	1,305	4,984
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	1,305	4,984
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents
Money Market Funds [Member] | Reported Value Measurement [Member]
Cash equivalents	1,305	4,984
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member]
Investments	72,045	69,972
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Investments	72,045	69,972
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Investments
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Investments
US Treasury Securities [Member] | Reported Value Measurement [Member]
Investments	$ 72,032	$ 69,972

Note 6 - Equity Incentive Pla_2

Note 6 - Equity Incentive Plan (Details Textual) - USD ($) $ in Thousands	Jun. 18, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Share-based Payment Arrangement, Expense		$ 1,443	$ 1,322		$ 2,829	$ 8,887
Stock Options, PSUs and RSUs to Employees and RSUs to Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Performance Shares [Member]
Share-based Payment Arrangement, Expense		$ 300			$ 400
Performance Conditions, Business Target, Percentage of Performance Conditions Based on Achievement in Current Fiscal Year					30.00%
Performance Conditions, Financial Target, Percentage of Performance Conditions Based on Company’s Operating Results in next Fiscal Year					70.00%
The 2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	1,500,000
Common Stock, Capital Shares Reserved for Future Issuance	2,700,000						1,200,000
Chief Executive Officer [Member]
Share-based Payment Arrangement, Expense				$ 6,200

Note 6 - Equity Incentive Pla_3

Note 6 - Equity Incentive Plan - Assumptions Used to Estimate Fair Value of Stock Options and Stock Appreciation Rights (Details)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Expected life (years) (Year)	3 years 182 days
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Risk free interest rate	2.18%	2.15%
Expected volatility	44.05%	37.12%
Expected life (years) (Year)		4 years
Maximum [Member]
Risk free interest rate	2.54%	2.75%
Expected volatility	44.72%	40.81%
Expected life (years) (Year)		4 years 182 days

Note 6 - Equity Incentive Pla_4

Note 6 - Equity Incentive Plan - Total Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Stock-based compensation expense	$ 1,443	$ 1,322	$ 2,829	$ 8,887
Cost of Sales [Member]
Stock-based compensation expense	82	(28)	174	(244)
Research and Development Expense [Member]
Stock-based compensation expense	91	241	268	451
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	$ 1,270	$ 1,109	$ 2,387	$ 8,680

Note 6 - Equity Incentive Pla_5

Note 6 - Equity Incentive Plan - Granted and Exercised Stock-based Compensation Awards (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement, Option [Member]
Stock Options (in shares)	27,325	17,500	131,617	209,800
Stock Options (in shares)	22,400	273,123	22,900	284,548
Restricted Stock [Member]
Equity Instruments Other than Options (in shares)				64,578
Restricted Stock Units (RSUs) [Member]
Equity Instruments Other than Options (in shares)	8,000		173,507	8,130
Performance Restricted Stock Units [Member]
Equity Instruments Other than Options (in shares)			114,500
Stock Appreciation Rights (SARs) [Member]
SARs (in shares)

Note 7 - Earnings Per Share (_3

Note 7 - Earnings Per Share ("EPS") (Details Textual) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	May 08, 2019	May 07, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	May 02, 2019
Stock Repurchase Program, Authorized Amount								$ 50,000
Payments for Repurchase of Common Stock						$ 30,000	$ 30,000
Accelerated Stock Repurchase [Member]
Stock Repurchase Program, Authorized Amount		$ 30,000						30,000
Payments for Repurchase of Common Stock		$ 30,000
Stock Repurchased During Period, Shares	0.5
Share Price	$ 39.85
Share Repurchased, Pecentage	60.00%
Stock Repurchase Program, Remaining Authorized Repurchase Amount			$ 12,000	$ 12,000		$ 12,000
Number of Additional Shares Deliver to Company if ASR Agreement Settled			0.3
Repurchase from Open Market [Member]
Stock Repurchase Program, Authorized Amount								$ 20,000
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				1	0.7	1	0.6

Note 7 - Earnings Per Share (_4

Note 7 - Earnings Per Share ("EPS") - Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic weighted average common shares outstanding (in shares)	13,916	14,652	14,054	14,666
Stock options, SARs, RSAs, RSUs and PSUs (in shares)	172	263	149	379
Diluted shares used in the calculation of earnings per share (in shares)	14,088	14,915	14,203	15,045

Note 8 - Inventories (Details T

Note 8 - Inventories (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory, Noncurrent, Total	$ 4,541	$ 3,833

Note 8 - Inventories - Summary

Note 8 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Raw materials	$ 12,381	$ 13,688
Work-in-process	6,399	4,626
Finished goods	8,747	6,819
Total	27,527	25,133
Inventories, net	22,986	21,300
Inventory, Noncurrent, Total	$ 4,541	$ 3,833

Note 9 - Intangible Assets (Det

Note 9 - Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Amortization of Intangible Assets, Total	$ 200	$ 300	$ 500	$ 500
Impairment of Intangible Assets, Finite-lived			281
Intangible Assets, Net (Excluding Goodwill), Total	8,303		8,303		$ 9,191
HYALOSPINE Developed Technology Asset [Member]
Impairment of Intangible Assets, Finite-lived	300
MEROGEL INJECTIBLE Assets [Member]
Intangible Assets, Net (Excluding Goodwill), Total	$ 100		$ 100

Note 9 - Intangible Assets - Su

Note 9 - Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Gross Value		$ 28,206
Accumulated Currency Translation Adjustment		(4,642)		$ (4,576)
Impairment		(281)
Accumulated Amortization		(14,980)		(14,439)
Intangible assets, net		8,303		9,191
In Process Research and Development [Member]
Gross Value		4,406
Accumulated Currency Translation Adjustment		(1,191)		(1,168)
Impairment
Accumulated Amortization
Intangible assets, net		3,215		3,238
Developed Technology Rights [Member]
Gross Value		17,100
Accumulated Currency Translation Adjustment		(2,864)		(2,824)
Impairment		(281)
Accumulated Amortization		(9,189)		(8,672)
Intangible assets, net		4,766		5,604
Useful life (Year)	15 years
Distribution Rights [Member]
Gross Value		4,700
Accumulated Currency Translation Adjustment		(415)		(415)
Impairment
Accumulated Amortization		(4,285)		(4,285)
Intangible assets, net
Useful life (Year)	5 years
Patents [Member]
Gross Value		1,000
Accumulated Currency Translation Adjustment		(172)		(169)
Impairment
Accumulated Amortization		(506)		(482)
Intangible assets, net		322		349
Useful life (Year)	16 years
Elevess Trade Name [Member]
Gross Value		1,000
Accumulated Currency Translation Adjustment
Impairment
Accumulated Amortization		(1,000)		(1,000)
Intangible assets, net
Useful life (Year)	9 years

Note 10 - Goodwill (Details Tex

Note 10 - Goodwill (Details Textual) $ in Thousands	Nov. 30, 2018USD ($)
Goodwill, Impaired, Accumulated Impairment Loss	$ 0

Note 10 - Goodwill - Changes in

Note 10 - Goodwill - Changes in the Carrying Value of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Balance	$ 7,851
Effect of foreign currency adjustments	(53)
Balance	$ 7,798

Note 11 - Accrued Expenses (Det

Note 11 - Accrued Expenses (Details Textual) - Former Chief Executive Officer [Member] $ in Millions	Mar. 08, 2018USD ($)
Severance Benefit Following Retirement	$ 1.7
Severance Benefit Following Retirement, Term	1 year 180 days

Note 11 - Accrued Expenses - Su

Note 11 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Compensation and related expenses	$ 3,584	$ 4,446
Professional fees	1,609	1,989
Operating lease liability - current	1,101
Income taxes payable	757	385
Research grants	398	400
Clinical trial costs	320	577
Other	332	349
Total	$ 8,101	$ 8,146

Note 12 - Operating Leases (Det

Note 12 - Operating Leases (Details Textual)	6 Months Ended
	Jun. 30, 2019ft²
Operating Lease, Weighted Average Discount Rate, Percent	4.10%
Operating Lease, Weighted Average Lease Term	17 years 109 days
Administrative, Research and Development, and Manufacturing Space in Bedford, MA [Member]
Area of Real Estate Property	134,000
Office, Research and Development, Training, and Warehousing Space in Padova, Italy [Member]
Area of Real Estate Property	33,000

Note 12 - Operating Leases - Le

Note 12 - Operating Leases - Lease Expense and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Operating lease cost	$ 521	$ 1,043
Short-term lease cost	4	6
Variable lease cost	60	112
Total lease cost	585	1,161
Operating cash flows from operating leases	$ 497	$ 994

Note 12 - Operating Leases - Fu

Note 12 - Operating Leases - Future Minimum Rental Payments for Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
2019	$ 994
2020	2,025
2021	2,024
2022	1,981
2023	1,965
Thereafter	23,530
Present value adjustment	(9,444)
Present value of lease payments	23,075
Less current portion included in Accrued expenses and other current liabilities	(1,101)
Operating lease liabilities	$ 21,974

Note 12 - Operating Leases - _2

Note 12 - Operating Leases - Future Lease Commitments Under ASU 840 (Details) $ in Thousands	Dec. 31, 2018USD ($)
2019	$ 1,879
2020	1,917
2021	1,924
2022	1,672
2023	414
2024 and thereafter	897
Total	$ 8,703

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Standard and Extended Product Warranty Accrual, Ending Balance	$ 0	$ 0

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Expense (Benefit), Total	$ 3,013	$ 1,444	$ 4,486	$ 394
Effective Income Tax Rate Reconciliation, Percent, Total	24.20%	12.50%	24.30%		10.40%
Deferred Tax Assets, Valuation Allowance, Total	$ 0		$ 0		$ 0