Note 12 - Segment Reporting

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12

.  

Segment Reporting

The Company has

two

reportable segments, which are the same as its operating segments:

The Clinical Development Segment is developing autologous (utilizing the patient’s own cells) stem cell-based therapeutics that address significant unmet medical needs for applications within the vascular, cardiology and orthopedic markets.

The Device Segment is a pioneer and market leader in the development and commercialization of automated technologies for cell-based therapeutics and bio-processing.

The following table summarizes the operating results of the Company’s reportable segments:

	Year Ended December 31, 2018
	Clinical Development			Device			Total
Net revenues	$	202,000		$	9,470,000		$	9,672,000
Cost of revenues		274,000			7,205,000			7,479,000
Gross profit		(72,000	)		2,265,000			2,193,000
Operating expenses		37,340,000			8,398,000			45,738,000
Operating loss	$	(37,412,000	)	$	(6,133,000	)	$	(43,545,000	)
Depreciation and amortization	$	272,000		$	398,000		$	670,000
Stock-based compensation expense	$	473,000		$	179,000		$	652,000
Goodwill		--		$	781,000		$	781,000
Total assets	$	3,796,000		$	10,815,000		$	14,611,000

	Six Months Ended December 31, 2017
	Clinical Development			Device			Total
Net revenues	$	186,000		$	5,827,000		$	6,013,000
Cost of revenues		205,000			3,653,000			3,858,000
Gross profit		(19,000	)		2,174,000			2,155,000
Operating expenses		2,138,000			4,615,000			6,753,000
Operating loss	$	(2,157,000	)	$	(2,441,000	)	$	(4,598,000	)
Depreciation and amortization	$	152,000		$	170,000		$	322,000
Stock-based compensation expense	$	164,000		$	127,000		$	291,000
Goodwill	$	13,195,000		$	781,000		$	13,976,000
Total assets	$	41,261,000		$	9,850,000		$	51,111,000

	Year Ended June 30, 2017
	Clinical Development			Device			Total
Net revenues	$	492,000		$	14,033,000		$	14,525,000
Cost of revenues		466,000			8,220,000			8,686,000
Gross profit		26,000			5,813,000			5,839,000
Operating expenses		9,095,000			6,113,000			15,208,000
Operating loss	$	(9,069,000	)	$	(300,000	)	$	(9,369,000	)
Depreciation and amortization	$	501,000		$	329,000		$	830,000
Stock-based compensation expense	$	970,000		$	491,000		$	1,461,000