Revision of Prior Period Financial Statements

12 Months Ended

Dec. 31, 2020

Accounting Changes and Error Corrections [Abstract]

Revision of Prior Period Financial Statements

Revision of Prior Period Financial Statements

As discussed in Note 1, the Company has revised its prior period financial statements to correct for immaterial errors in its accounting for revenues, contractual allowances, allowance for doubtful accounts and certain other items, the impact of which is presented below (in thousands, except share data):

Revised Consolidated Balance Sheets

	As of December 31, 2018
	As Reported		Adjustment		As Revised
Assets
Accounts receivable, net	$	21,977	$	(2,187)	$	19,790
Total current assets	106,482		(2,187)		104,295
Total assets	119,710		(2,187)		117,523
Liabilities and Stockholders’ Equity
Accrued liabilities	26,570		118		26,688
Deferred revenue	1,243		(20)		1,223
Total current liabilities	30,236		98		30,334
Total liabilities	65,288		98		65,386
Accumulated other comprehensive loss	(41)		25		(16)
Accumulated deficit	(203,515)		(2,310)		(205,825)
Total stockholders’ equity	54,422		(2,285)		52,137
Total liabilities and stockholders’ equity	119,710		(2,187)		117,523

Revised Consolidated Statements of Operations

	Year ended December 31, 2018
	As Reported		Adjustment		As Revised
Revenue	$	147,293	$	(16)	$	147,277
Cost of revenue	38,579		216		38,795
Gross profit	108,714		(232)		108,482
Research and development	20,750		110		20,860
Selling, general and administrative	131,582		1,731		133,313
Total operating expenses	152,332		1,841		154,173
Loss from operations	(43,618)		(2,073)		(45,691)
Other income, net	1,526		(25)		1,501
Loss before income taxes	(48,236)		(2,098)		(50,334)
Net loss	(48,280)		(2,098)		(50,378)
Net loss per common share, basic and diluted	(2.02)		(0.09)		(2.11)

Revised Consolidated Statements of Comprehensive Loss

	Year ended December 31, 2018
	As Reported		Adjustment		As Revised
Net loss	$	(48,280)	$	(2,098)	$	(50,378)
Net change in unrealized gains on available-for-sale securities	24		25		49
Comprehensive loss	(48,256)		(2,073)		(50,329)

Revised Consolidated Statements of Cash Flows

	Year ended December 31, 2018
	As Reported		Adjustment		As Revised
Cash flows from operating activities
Net loss	$	(48,280)	$	(2,098)	$	(50,378)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for bad debt and contractual allowances	15,218		1,230		16,448
Changes in operating assets and liabilities:
Accounts receivable	(22,885)		1,138		(21,747)
Accrued liabilities	10,776		(275)		10,501
Deferred revenue	5		(20)		(15)
Net cash used in operating activities	(29,068)		(25)		(29,093)
Cash flows from investing activities
Purchases of available-for-sale investments	(93,158)		25		(93,133)
Net cash provided by investing activities	34,117		25		34,142

Revised Consolidated Statements of Shareholder's Equity

	Year Ended December 31, 2018
	As Reported		Adjustment		As Revised
Unrealized loss on investments	$	24	$	25	$	49
Accumulated other comprehensive loss ending balance	(41)		25		(16)
Accumulated deficit beginning balance	(156,589)		(212)		(156,801)
Net loss	(48,280)		(2,098)		(50,378)
Accumulated deficit ending balance	(203,515)		(2,310)		(205,825)
Total stockholders' equity	54,422		(2,285)		52,137