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Summary of Significant Accounting Policies (Tables)
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3 Months Ended |
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Mar. 31, 2015
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| Accounting Policies [Abstract] |
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| Breakdown of Company's Revenue from U.S. and Non-U.S. Sources |
A portion of revenue is earned from sales outside the United States. Non-U.S. revenue is denominated in U.S. dollars. A breakdown of the Company’s revenue from U.S. and non-U.S. sources for the three months ended March 31, 2015 and March 31, 2014 is as follows:
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Three months ended March 31,
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2015
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2014
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U.S. revenue
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$
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25,354
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$
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19,187
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Non-U.S. revenue
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8,398
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4,446
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Total revenue
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$
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33,752
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$
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23,633
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| Schedule of Inventories |
Inventories consist of the following:
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March 31,
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December 31,
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2015
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2014
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Raw materials and work-in-progress
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$
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7,045
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$
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6,774
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Finished goods
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875
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983
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Less: reserves
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(128
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)
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(141
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)
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Inventories
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$
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7,792
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$
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7,616
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| Computation of Depreciation and Amortization using Straight Line Method Over Estimated Useful Lives of Assets |
Property and equipment are stated at cost. Depreciation and amortization are calculated using the straight-line method over the assets estimated useful lives as follows:
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Rental equipment
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1.5-5 years
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Manufacturing equipment and tooling
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5 years
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Computer equipment and software
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3 years
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Furniture and equipment
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3-5 years
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Leasehold improvements
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Shorter of 3-10 years or life of underlying lease
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| Summary of Depreciation and Amortization Expense of Property and Equipment and Rental Equipment |
Depreciation and amortization expense related to property and equipment and rental equipment is summarized below for the three months ended March 31, 2015 and March 31, 2014, respectively.
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Three months ended March 31,
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2015
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2014
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Rental equipment
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$
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2,956
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$
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2,257
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Other property and equipment
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467
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362
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Total depreciation and amortization
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$
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3,423
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$
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2,619
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| Summary of Property Plant and Equipment and Rental Equipment with Associated Accumulated Depreciation |
Property and equipment and rental equipment with associated accumulated depreciation is summarized below for March 31, 2015 and December 31, 2014, respectively.
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March 31,
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December 31,
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Property and equipment
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2015
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2014
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Rental equipment, net of allowance
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$
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51,130
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$
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48,359
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Other property and equipment
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9,960
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9,408
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Property and equipment
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61,090
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57,767
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Accumulated depreciation
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Rental equipment
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23,539
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21,084
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Other property and equipment
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5,223
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4,756
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Accumulated depreciation
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28,762
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25,840
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Net property and equipment
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Rental equipment
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27,591
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27,275
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Other property and equipment
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4,737
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4,652
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Property and equipment, net
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$
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32,328
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$
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31,927
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| Computation of Earnings Per Share |
The computation of EPS is as follows:
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Three months ended March 31,
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2015
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2014
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Numerator—basic and diluted:
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Net income
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$
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1,572
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$
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888
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Less deemed dividend on redeemable convertible preferred stock
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—
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(987
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)
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Net income (loss) attributable to common stockholders - basic
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$
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1,572
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$
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(99
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)
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Denominator:
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Weighted-average common shares - basic common stock
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19,167,585
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9,437,525
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Weighted-average common shares - diluted common stock
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20,562,040
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9,437,525
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Net income (loss) per share - basic common stock
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$
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0.08
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$
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(0.01
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)
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Net income (loss) per share - diluted common stock
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$
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0.08
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$
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(0.01
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)
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Shares excluded from diluted net income (loss):
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Stock options
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110,000
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25,630
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Shares excluded from diluted net income (loss)
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110,000
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25,630
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Denominator calculation from basic to diluted:
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Weighted-average common shares - basic common stock
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19,167,585
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9,437,525
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Warrants
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9,649
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—
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Stock options
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1,384,806
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—
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Weighted-average common shares - diluted common stock
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20,562,040
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9,437,525
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