Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.6.0.2
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenue:      
Device and related $ 13,334 $ 4,252 $ 2,924
Engineering services 887 4,409 2,403
Total revenue 14,221 8,661 5,327
Cost of revenue:      
Device and related 10,715 3,926 2,048
Engineering services 559 3,556 1,720
Total cost of revenue 11,274 7,482 3,768
Gross profit 2,947 1,179 1,559
Operating expenses:      
Sales and marketing 10,997 9,258 7,085
Research and development 8,879 6,480 3,868
General and administrative 10,853 7,002 7,400
Change in fair value, contingent consideration (196) 0 0
Total operating expenses 30,533 22,740 18,353
Loss from operations (27,586) (21,561) (16,794)
Other income (expense), net:      
Interest expense (16) (13) (435)
Warrant issuance expense 0 (487) 0
Gain (loss) on warrant liability 4,286 2,505 (16,485)
Interest income 12 11 6
Other expense, net (166) (45) (61)
Total other income (expense), net 4,116 1,971 (16,975)
Net loss (23,470) (19,590) (33,769)
Less: Preferred deemed dividend 10,345 4,655 0
Net loss applicable to common shareholders (33,815) [1] (24,245) (33,769)
Foreign currency translation adjustments 80 (1) 0
Comprehensive loss applicable to common shareholders $ (33,735) $ (24,246) $ (33,769)
Basic net loss per share applicable to common shareholders (in dollars per share) $ (1.87) [1] $ (1.66) $ (3.02)
Diluted net loss per share applicable to common shareholders (in dollars per share) $ (2.05) [1] $ (1.83) $ (3.02)
Weighted average number of shares outstanding, basic (in shares) 18,126 [1] 14,606 11,181
Weighted average number of shares outstanding, diluted (in shares) 18,622 [1] 14,609 11,181
[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).