XML 42 R30.htm IDEA: XBRL DOCUMENT v3.19.2
Equity (Tables)
 9 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Schedule of Stock Options Activity
The following table summarizes stock option activity under the Equity Plans for the nine months ended June 30, 2019:


Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average
Remaining Contractual Life
(in years)
 
Aggregate Intrinsic Value (*) (in thousands)
Outstanding as of September 30, 2018
69,980

 
$4.74
 
 
 
 
Granted
—

 
—

 
 
 
 
Exercised
(208
)
 
$3.97
 
 
 
—

Forfeited
(1,614
)
 
$3.92
 
 
 
 
Expired
(2,242
)
 
$4.62
 
 
 
 
Outstanding as of June 30, 2019
65,916

 
$4.77
 
4.23
 
$
1

Exercisable as of June 30, 2019
50,318

 
$4.75
 
3.58
 
$
1

Vested and expected to vest as of June 30, 2019
65,916

 
$4.77
 
4.23
 
$
1


(*) Intrinsic value for stock options represents the “in-the-money” portion or the positive variance between a stock option's exercise price and the underlying stock price. For the nine months ended June 30, 2018, the intrinsic value of options exercised was $14,000.
Schedule of Restricted Stock Activity
The following table summarizes the activity related to RSUs and RSAs subject to time-based vesting requirements for the nine months ended June 30, 2019:

Restricted Stock Activity
 
Restricted Stock Units
 
Restricted Stock Awards
 
Number of Shares
 
Weighted Average Grant Date Fair Value
 
Number of Shares
 
Weighted Average Grant Date Fair Value
Non-vested as of September 30, 2018
 
1,011,621

 
$6.04
 
8,154

 
$8.20
Granted
 
600,722

 
$3.88
 
—

 
$0.00
Vested
 
(319,049
)
 
$5.94
 
—

 
$0.00
Forfeited
 
(395,115
)
 
$5.21
 
—

 
$0.00
Non-vested as of June 30, 2019
 
898,179

 
$4.99
 
8,154

 
$8.20
Schedule of Performance Share Activity
The following table summarizes the activity related to PSUs and PRSAs for the nine months ended June 30, 2019:

Performance Stock Activity
 
Performance Stock Units
 
Performance Stock Awards
 
Number of Shares (at Target)
 
Weighted Average Grant Date Fair Value
 
Number of Shares (at Target)
 
Weighted Average Grant Date Fair Value
Non-vested as of September 30, 2018
 
397,777

 
$8.48
 
33,333

 
$12.25
Granted
 
280,000

 
$5.19
 
—

 
$0.00
Vested
 
(30,874
)
 
$7.14
 
—

 
$0.00
Forfeited
 
(172,579
)
 
$7.39
 
—

 
$0.00
Non-vested as of June 30, 2019
 
474,324

 
$7.02
 
33,333

 
$12.25
Schedule of Stock-based Compensation Expense - By Award Type
The effect of recording stock-based compensation expense was as follows:

Stock-based Compensation Expense - by award type
For the three months ended June 30,
 
For the nine months ended June 30,
(in thousands)
2019
 
2018
 
2019
 
2018
Employee stock options
$
6

 
$
6

 
$
20

 
$
26

Restricted stock units and awards
380

 
400

 
1,162

 
1,263

Performance stock units and awards
188

 
330

 
357

 
980

Employee stock purchase plan
50

 
64

 
132

 
225

Outside director equity awards and fees in common stock
53

 
65

 
152

 
219

Total stock-based compensation expense
$
677

 
$
865

 
$
1,823

 
$
2,713
Schedule of Stock-based Compensation Expense - By Expense Type
Stock-based Compensation Expense - by expense type
For the three months ended June 30,
For the nine months ended June 30,
(in thousands)
2019
 
2018
2019
 
2018
Cost of revenue
$
121

 
$
83

$
341

 
$
337

Selling, general, and administrative
367

 
625

999

 
1,915

Research and development
189

 
157

483

 
461

Total stock-based compensation expense
$
677

 
$
865

$
1,823

 
$
2,713
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted net loss per share:

Basic and Diluted Net Loss Per Share
 
For the three months ended June 30,
 
For the nine months ended June 30,
(in thousands, except per share)
 
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
 
   Loss from continuing operations
 
$
(10,477
)
 
$
(8,414
)
 
$
(21,009
)
 
$
(11,567
)
Undistributed earnings allocated to common shareholders for basic and diluted net income per share
 
(10,477
)
 
(8,414
)
 
(21,009
)
 
(11,567
)
Denominator:
 
 
 
 
 
 
 
 
Denominator for basic and fully diluted net loss per share - weighted average shares outstanding
 
28,005

 
27,387

 
27,730

 
27,204

 
 
 
 
 
 
 
 
 
Net loss per basic and fully diluted share
 
$
(0.37
)
 
$
(0.31
)
 
$
(0.76
)
 
$
(0.43
)
 
 
 
 
 
 
 
 
 
Weighted average antidilutive options, unvested restricted stock units and awards, unvested performance stock units and ESPP shares excluded from the computation
 
1,317

 
725

 
881

 
725

 
 
 
 
 
 
 
 
 
Average market price of common stock
 
$
3.72

 
$
5.06

 
$
4.22

 
$
6.20
Schedule of Common Stock Reserved for Future Issuances
As of June 30, 2019, we had common stock reserved for the following future issuances:
Future Issuances
Number of Common Stock Shares Available for Future Issuances
Exercise of outstanding stock options
65,916

Unvested restricted stock units and awards
906,333

Unvested performance stock units and awards (at 200% maximum payout)
1,015,314

Purchases under the employee stock purchase plan
674,152

Issuance of stock-based awards under the Equity Plans
2,866,757

Purchases under the officer and director share purchase plan
88,741

Total reserved
5,617,213