Balance Sheet Components (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Summary of Cash, Cash Equivalents and Short-term Investments |
Cash, cash equivalents and marketable securities consist of the following:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
Cash and cash equivalents
|
|
2016
|
|
|
2015
|
|
|
Cash
|
|
$
|
43,454
|
|
|
$
|
52,164
|
|
|
Money market accounts
|
|
|
39,793
|
|
|
|
6,725
|
|
|
Certificates of deposit
|
|
|
2,762
|
|
|
|
7,217
|
|
|
Total cash and cash equivalents
|
|
$
|
86,009
|
|
|
$
|
66,106
|
|
|
Marketable securities
|
|
|
|
|
|
|
|
|
|
Certificates of deposit
|
|
$
|
12,020
|
|
|
$
|
16,793
|
|
|
Corporate bonds
|
|
|
10,311
|
|
|
|
—
|
|
|
Total marketable securities
|
|
$
|
22,331
|
|
|
$
|
16,793
|
|
|
| Schedule of Gross Accounts Receivable Balance Concentrations by Major Category |
Gross accounts receivable balance concentrations by major category as of September 30, 2016 and December 31, 2015 were as follows:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
Gross accounts receivable
|
|
2016
|
|
|
2015
|
|
|
Medicare
|
|
$
|
11,204
|
|
|
$
|
10,510
|
|
|
Medicaid/other government
|
|
|
555
|
|
|
|
683
|
|
|
Private insurance
|
|
|
3,312
|
|
|
|
4,852
|
|
|
Patient responsibility
|
|
|
2,856
|
|
|
|
3,603
|
|
|
Business-to-business & other receivables
|
|
|
18,698
|
|
|
|
6,369
|
|
|
Total gross accounts receivable
|
|
$
|
36,625
|
|
|
$
|
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 September 30, 2016 and December 31, 2015 were as follows:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
Net accounts receivable
|
|
2016
|
|
|
2015
|
|
|
Medicare
|
|
$
|
6,668
|
|
|
$
|
7,441
|
|
|
Medicaid/other government
|
|
|
394
|
|
|
|
550
|
|
|
Private insurance
|
|
|
2,738
|
|
|
|
3,895
|
|
|
Patient responsibility
|
|
|
1,907
|
|
|
|
2,060
|
|
|
Business-to-business & other receivables
|
|
|
18,010
|
|
|
|
5,926
|
|
|
Total net accounts receivable
|
|
$
|
29,717
|
|
|
$
|
19,872
|
|
|
| Schedule of Allowances for Accounts Receivable |
The following tables set forth the accounts receivable allowances as of September 30, 2016 and December 31, 2015:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
Allowances - accounts receivable
|
|
2016
|
|
|
2015
|
|
|
Doubtful accounts
|
|
$
|
1,192
|
|
|
$
|
1,664
|
|
|
Rental revenue adjustments
|
|
|
5,137
|
|
|
|
4,115
|
|
|
Sales returns
|
|
|
579
|
|
|
|
366
|
|
|
Total allowances - accounts receivable
|
|
$
|
6,908
|
|
|
$
|
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 72.8% and 87.5% of the non-U.S. revenue for the three months ended September 30, 2016 and September 30, 2015, respectively, were invoiced in Euros. Approximately 70.7% and 74.6% of the non-U.S. revenue for the nine months ended September 30, 2016 and September 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 nine months ended September 30, 2016 and September 30, 2015 is as follows:
|
|
|
Three months ended
September 30,
|
|
|
Nine months ended
September 30,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
U.S. revenue
|
|
$
|
39,470
|
|
|
$
|
32,907
|
|
|
$
|
113,963
|
|
|
$
|
91,719
|
|
|
Non-U.S. revenue
|
|
|
14,952
|
|
|
|
7,871
|
|
|
|
38,015
|
|
|
|
26,840
|
|
|
Total revenue
|
|
$
|
54,422
|
|
|
$
|
40,778
|
|
|
$
|
151,978
|
|
|
$
|
118,559
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Inventories |
Inventories consist of the following:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
Raw materials and work-in-progress
|
|
$
|
14,497
|
|
|
$
|
7,097
|
|
|
Finished goods
|
|
|
2,162
|
|
|
|
1,679
|
|
|
Less: reserves
|
|
|
(160
|
)
|
|
|
(128
|
)
|
|
Inventories
|
|
$
|
16,499
|
|
|
$
|
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 and nine months ended September 30, 2016 and September 30, 2015, respectively.
|
|
|
Three months ended September 30,
|
|
|
Nine months ended September 30,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
Rental equipment
|
|
$
|
2,878
|
|
|
$
|
3,029
|
|
|
$
|
8,733
|
|
|
$
|
8,929
|
|
|
Other property and equipment
|
|
|
510
|
|
|
|
510
|
|
|
|
1,484
|
|
|
|
1,475
|
|
|
Total depreciation and amortization
|
|
$
|
3,388
|
|
|
$
|
3,539
|
|
|
$
|
10,217
|
|
|
$
|
10,404
|
|
|
| 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 September 30, 2016 and December 31, 2015, respectively.
|
|
|
September 30,
|
|
|
December 31,
|
|
|
Property and equipment
|
|
2016
|
|
|
2015
|
|
|
Rental equipment, net of allowances of $600 and $850, respectively
|
|
$
|
54,684
|
|
|
$
|
54,677
|
|
|
Other property and equipment
|
|
|
12,636
|
|
|
|
11,596
|
|
|
Property and equipment
|
|
|
67,320
|
|
|
|
66,273
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated depreciation
|
|
|
|
|
|
|
|
|
|
Rental equipment
|
|
|
32,731
|
|
|
|
28,894
|
|
|
Other property and equipment
|
|
|
7,754
|
|
|
|
6,699
|
|
|
Accumulated depreciation
|
|
|
40,485
|
|
|
|
35,593
|
|
|
|
|
|
|
|
|
|
|
|
|
Net property and equipment
|
|
|
|
|
|
|
|
|
|
Rental equipment
|
|
|
21,953
|
|
|
|
25,783
|
|
|
Other property and equipment
|
|
|
4,882
|
|
|
|
4,897
|
|
|
Property and equipment, net
|
|
$
|
26,835
|
|
|
$
|
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
|
|
|
|
|
|
|
September 30, 2016
|
|
(in years)
|
|
amount
|
|
|
amortization
|
|
|
Net amount
|
|
|
Licenses
|
|
10
|
|
$
|
185
|
|
|
$
|
114
|
|
|
$
|
71
|
|
|
Patents and websites
|
|
5
|
|
|
873
|
|
|
|
801
|
|
|
|
72
|
|
|
Commercials
|
|
2
|
|
|
286
|
|
|
|
161
|
|
|
|
125
|
|
|
Total
|
|
|
|
$
|
1,344
|
|
|
$
|
1,076
|
|
|
$
|
268
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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:
|
|
|
September 30, 2016
|
|
|
Remaining 3 months of 2016
|
|
$
|
28
|
|
|
2017
|
|
|
101
|
|
|
2018
|
|
|
86
|
|
|
2019
|
|
|
33
|
|
|
2020
|
|
|
9
|
|
|
Thereafter
|
|
|
11
|
|
|
|
|
$
|
268
|
|
|
| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses as of September 30, 2016 and December 31, 2015 consisted of the following:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
Accounts payable
|
|
$
|
10,214
|
|
|
$
|
7,448
|
|
|
Accrued inventory (in-transit and unvouchered receipts) and trade payables
|
|
|
7,570
|
|
|
|
3,548
|
|
|
Accrued purchasing card liability
|
|
|
2,000
|
|
|
|
1,581
|
|
|
Accrued franchise and use taxes
|
|
|
32
|
|
|
|
45
|
|
|
Other accrued expenses
|
|
|
894
|
|
|
|
245
|
|
|
Accounts payable and accrued expenses
|
|
$
|
20,710
|
|
|
$
|
12,867
|
|
|