Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.8.0.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue:      
Device and related $ 7,315 $ 13,434 $ 4,352
Engineering services 38 787 4,309
Total revenue 7,353 14,221 8,661
Cost of revenue:      
Device and related 5,270 10,715 3,926
Engineering services 14 559 3,556
Total cost of revenue 5,284 11,274 7,482
Gross profit 2,069 2,947 1,179
Operating expenses:      
Sales and marketing 13,156 10,997 9,258
Research and development 9,483 8,879 6,480
General and administrative 10,715 10,853 7,002
Restructuring 659 0 0
Change in fair value, contingent consideration (332) (196) 0
Total operating expenses 33,681 30,533 22,740
Loss from operations (31,612) (27,586) (21,561)
Other income, net:      
Interest expense (648) (16) (13)
Warrant issuance expense 0 0 (487)
Gain on warrant liability 3,909 4,286 2,505
Loss on repurchase of warrants (1,067) 0 0
Interest income 0 12 11
Other expense, net 296 (166) (45)
Total other income, net 2,490 4,116 1,971
Net loss (29,122) (23,470) (19,590)
Less: Preferred deemed dividend 0 10,345 4,655
Net loss applicable to common shareholders (29,122) (33,815) [1] (24,245)
Foreign currency translation adjustments (419) 80 (1)
Comprehensive loss applicable to common shareholders $ (29,541) $ (33,735) $ (24,246)
Basic net loss per share applicable to common shareholders $ (0.82) $ (1.87) [1] $ (1.66)
Diluted net loss per share applicable to common shareholders $ (0.82) $ (2.05) [1] $ (1.83)
Weighted average number of shares outstanding, basic (in shares) 35,609 18,126 [1] 14,606
Weighted average number of shares outstanding, diluted (in shares) 35,609 18,622 [1] 14,609
[1] Recognition of previously deferred revenue and cost of goods in the year ended December 31, 2016 reduced net loss applicable to common stockholders by $2,358, or $0.13 per share (see Note 2. Basis of Presentation and Summary of Significant Accounting Policies and Estimates – Medical Device Revenue and Cost of Revenue Recognition).