Restructuring |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2017 | |||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||
| Restructuring Impairment and Other Activities Disclosure |
In May of 2017, the Company streamlined its operations and reduced its workforce by approximately 27 employees to lower operating expenses and reduce cash burn. The Company will focus its efforts on the commercialization of its proprietary Ekso GT for rehabilitation and exploration of potential strategic alternatives to accelerate product and market adoption of our industrial products, on our own and/or in collaboration with others. The restructuring plan was completed by the end of the second quarter of 2017.
The Company recorded restructuring expense of $665 for the nine months ended September 30, 2017, which was comprised of employee severance payments of $480, stock compensation expense of $186 related to restricted stock units issued to terminated employees (refer to Note 13, Stock-Based Compensation for issuance of restricted stock units) and other severance related benefits. As of September 30, 2017, $8 of the restructuring expenses was included in other liabilities, current on the Company’s condensed consolidated balance sheet. The following table summarizes accrued restructuring costs as of September 30, 2017:
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