Balance Sheet Components (Tables)
|
6 Months Ended |
Jun. 30, 2016 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Summary of Cash, Cash Equivalents and Short-term Investments |
Cash, cash equivalents and short-term investments consist of the following:
|
|
|
June 30,
|
|
|
December 31,
|
|
|
Cash and cash equivalents
|
|
2016
|
|
|
2015
|
|
|
Cash
|
|
$
|
42,290
|
|
|
$
|
52,164
|
|
|
Money market accounts
|
|
|
33,270
|
|
|
|
6,725
|
|
|
Certificates of deposit
|
|
|
8,940
|
|
|
|
7,217
|
|
|
Total cash and cash equivalents
|
|
$
|
84,500
|
|
|
$
|
66,106
|
|
|
Short-term investments
|
|
|
|
|
|
|
|
|
|
Certificates of deposit
|
|
$
|
13,616
|
|
|
$
|
16,793
|
|
|
Total short-term investments
|
|
$
|
13,616
|
|
|
$
|
16,793
|
|
|
| Schedule of Gross Accounts Receivable Balance Concentrations by Major Category |
Gross accounts receivable balance concentrations by major category as of June 30, 2016 and December 31, 2015 were as follows:
|
|
|
June 30,
|
|
|
December 31,
|
|
|
Gross accounts receivable
|
|
2016
|
|
|
2015
|
|
|
Medicare
|
|
$
|
12,556
|
|
|
$
|
10,510
|
|
|
Medicaid/other government
|
|
|
660
|
|
|
|
683
|
|
|
Private insurance
|
|
|
4,238
|
|
|
|
4,852
|
|
|
Patient responsibility
|
|
|
3,735
|
|
|
|
3,603
|
|
|
Business-to-business & other receivables
|
|
|
15,236
|
|
|
|
6,369
|
|
|
Total gross accounts receivable
|
|
$
|
36,425
|
|
|
$
|
26,017
|
|
|
| Schedule of Net Accounts Receivable Balance Concentrations by Major Category |
Net accounts receivable (gross accounts receivable net of allowances) balance concentrations by major category as of June 30, 2016 and December 31, 2015 were as follows:
|
|
|
June 30,
|
|
|
December 31,
|
|
|
Net accounts receivable
|
|
2016
|
|
|
2015
|
|
|
Medicare
|
|
$
|
7,572
|
|
|
$
|
7,441
|
|
|
Medicaid/other government
|
|
|
463
|
|
|
|
550
|
|
|
Private insurance
|
|
|
3,110
|
|
|
|
3,895
|
|
|
Patient responsibility
|
|
|
2,076
|
|
|
|
2,060
|
|
|
Business-to-business & other receivables
|
|
|
14,616
|
|
|
|
5,926
|
|
|
Total net accounts receivable
|
|
$
|
27,837
|
|
|
$
|
19,872
|
|
|
| Schedule of Allowances for Accounts Receivable |
The following tables sets forth the allowances for accounts receivable as of June 30, 2016 and December 31, 2015:
|
|
|
June 30,
|
|
|
December 31,
|
|
|
Allowances - accounts receivable
|
|
2016
|
|
|
2015
|
|
|
Doubtful accounts
|
|
$
|
2,086
|
|
|
$
|
1,664
|
|
|
Rental revenue adjustments
|
|
|
5,959
|
|
|
|
4,115
|
|
|
Sales returns
|
|
|
543
|
|
|
|
366
|
|
|
Total allowances - accounts receivable
|
|
$
|
8,588
|
|
|
$
|
6,145
|
|
|
| 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. Approximately 69.1% and 68.0% of the non-U.S. revenue for the three months ended June 30, 2016 and June 30, 2015, respectively, were invoiced in Euros. Approximately 69.2% and 42.4% of the non-U.S. revenue for the six months ended June 30, 2016 and June 30, 2015, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and non-U.S. sources for the three months and six months ended June 30, 2016 and June 30, 2015 is as follows:
|
|
|
Three months ended June 30,
|
|
|
Six months ended June 30,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
U.S. revenue
|
|
$
|
41,469
|
|
|
$
|
33,458
|
|
|
$
|
74,493
|
|
|
$
|
58,812
|
|
|
Non-U.S. revenue
|
|
|
13,098
|
|
|
|
10,571
|
|
|
|
23,063
|
|
|
|
18,969
|
|
|
Total revenue
|
|
$
|
54,567
|
|
|
$
|
44,029
|
|
|
$
|
97,556
|
|
|
$
|
77,781
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Inventories |
Inventories consist of the following:
|
|
|
June 30,
|
|
|
December 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
Raw materials and work-in-progress
|
|
$
|
10,709
|
|
|
$
|
7,097
|
|
|
Finished goods
|
|
|
1,957
|
|
|
|
1,679
|
|
|
Less: reserves
|
|
|
(152
|
)
|
|
|
(128
|
)
|
|
Inventories
|
|
$
|
12,514
|
|
|
$
|
8,648
|
|
|
| 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:
|
Rental equipment
|
|
1.5-5 years
|
|
Manufacturing equipment and tooling
|
|
2-5 years
|
|
Computer equipment and software
|
|
2-3 years
|
|
Furniture and equipment
|
|
3-5 years
|
|
Leasehold improvements
|
|
Lesser of estimated useful life or remaining lease term
|
|
| 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 are summarized below for the three months ended June 30, 2016 and June 30, 2015, respectively, and for the six months ended June 30, 2016 and June 30, 2015, respectively.
|
|
|
Three months ended June 30,
|
|
|
Six months ended June 30,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
Rental equipment
|
|
$
|
2,908
|
|
|
$
|
2,944
|
|
|
$
|
5,855
|
|
|
$
|
5,900
|
|
|
Other property and equipment
|
|
|
496
|
|
|
|
498
|
|
|
|
974
|
|
|
|
965
|
|
|
Total depreciation and amortization
|
|
$
|
3,404
|
|
|
$
|
3,442
|
|
|
$
|
6,829
|
|
|
$
|
6,865
|
|
|
| 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 June 30, 2016 and December 31, 2015, respectively.
|
|
|
June 30,
|
|
|
December 31,
|
|
|
Property and equipment
|
|
2016
|
|
|
2015
|
|
|
Rental equipment, net of allowances of $700 and $850, respectively
|
|
$
|
55,074
|
|
|
$
|
54,677
|
|
|
Other property and equipment
|
|
|
12,822
|
|
|
|
11,596
|
|
|
Property and equipment
|
|
|
67,896
|
|
|
|
66,273
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated depreciation
|
|
|
|
|
|
|
|
|
|
Rental equipment
|
|
|
31,783
|
|
|
|
28,894
|
|
|
Other property and equipment
|
|
|
7,673
|
|
|
|
6,699
|
|
|
Accumulated depreciation
|
|
|
39,456
|
|
|
|
35,593
|
|
|
|
|
|
|
|
|
|
|
|
|
Net property and equipment
|
|
|
|
|
|
|
|
|
|
Rental equipment
|
|
|
23,291
|
|
|
|
25,783
|
|
|
Other property and equipment
|
|
|
5,149
|
|
|
|
4,897
|
|
|
Property and equipment, net
|
|
$
|
28,440
|
|
|
$
|
30,680
|
|
|
| Summary of Intangible Assets |
The following tables represent the changes in net carrying values of the intangibles as of the respective dates:
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
estimated
|
|
Gross
|
|
|
|
|
|
|
|
|
|
|
|
|
useful lives
|
|
carrying
|
|
|
Accumulated
|
|
|
|
|
|
|
June 30, 2016
|
|
(in years)
|
|
amount
|
|
|
amortization
|
|
|
Net amount
|
|
|
Licenses
|
|
10
|
|
$
|
185
|
|
|
$
|
109
|
|
|
$
|
76
|
|
|
Patents and websites
|
|
5
|
|
|
873
|
|
|
|
795
|
|
|
|
78
|
|
|
Commercials
|
|
2
|
|
|
174
|
|
|
|
144
|
|
|
|
30
|
|
|
Total
|
|
|
|
$
|
1,232
|
|
|
$
|
1,048
|
|
|
$
|
184
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
estimated
|
|
Gross
|
|
|
|
|
|
|
|
|
|
|
|
|
useful lives
|
|
carrying
|
|
|
Accumulated
|
|
|
|
|
|
|
December 31, 2015
|
|
(in years)
|
|
amount
|
|
|
amortization
|
|
|
Net amount
|
|
|
Licenses
|
|
10
|
|
$
|
185
|
|
|
$
|
100
|
|
|
$
|
85
|
|
|
Patents and websites
|
|
5
|
|
|
873
|
|
|
|
779
|
|
|
|
94
|
|
|
Commercials
|
|
2
|
|
|
174
|
|
|
|
124
|
|
|
|
50
|
|
|
Total
|
|
|
|
$
|
1,232
|
|
|
$
|
1,003
|
|
|
$
|
229
|
|
|
| Schedule of Minimum Aggregate Amortization Expense for Intangibles |
The minimum aggregate amortization expense for intangibles for each of the five succeeding fiscal years is summarized as follows:
|
|
|
June 30, 2016
|
|
|
Remaining 6 months of 2016
|
|
$
|
39
|
|
|
2017
|
|
|
63
|
|
|
2018
|
|
|
49
|
|
|
2019
|
|
|
13
|
|
|
2020
|
|
|
9
|
|
|
Thereafter
|
|
|
11
|
|
|
|
|
$
|
184
|
|
|
| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of June 30, 2016 and December 31, 2015 consisted of the following:
|
|
|
June 30,
|
|
|
December 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
Accounts payable
|
|
$
|
11,058
|
|
|
$
|
7,448
|
|
|
Accrued inventory (in-transit and unvouchered receipts) and trade payables
|
|
|
6,414
|
|
|
|
3,548
|
|
|
Accrued purchasing card liability
|
|
|
1,578
|
|
|
|
1,581
|
|
|
Accrued franchise and use taxes
|
|
|
23
|
|
|
|
45
|
|
|
Other accrued expenses
|
|
|
225
|
|
|
|
245
|
|
|
Accounts payable and accrued expenses
|
|
$
|
19,298
|
|
|
$
|
12,867
|
|
|