Note 9 - Segment Reporting

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

9. Segment Reporting

The Company has

two

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

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 Clinical Development Segment utilizes autologous stem cell-based therapeutics in the vascular and orthopedic markets.

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

	Three Months Ended September 30, 2019
	Device		Clinical Development			Total
Net revenues	$	4,045,000	$	13,000		$	4,058,000
Cost of revenues		2,126,000		37,000			2,163,000
Gross profit		1,919,000		(24,000	)		1,895,000
Operating expenses		1,871,000		354,000			2,225,000
Operating income / (loss)	$	48,000	$	(378,000	)	$	(330,000	)
Depreciation and amortization	$	149,000	$	53,000		$	202,000
Stock-based compensation expense	$	201,000	$	52,000		$	253,000

	Three Months Ended September 30, 2018
	Device			Clinical Development			Total
Net revenues	$	3,059,000		$	54,000		$	3,113,000
Cost of revenues		2,383,000			75,000			2,458,000
Gross profit		676,000			(21,000	)		655,000
Operating expenses		1,969,000			621,000			2,590,000
Operating loss	$	(1,293,000	)	$	(642,000	)	$	(1,935,000	)
Depreciation and amortization	$	100,000		$	74,000		$	174,000
Stock-based compensation expense	$	8,000		$	167,000		$	175,000

	Nine Months Ended September 30, 2019
	Device			Clinical Development			Total
Net revenues	$	11,256,000		$	69,000		$	11,325,000
Cost of revenues		6,082,000			138,000			6,220,000
Gross profit		5,174,000			(69,000	)		5,105,000
Operating expenses		5,295,000			1,307,000			6,602,000
Operating loss	$	(121,000	)	$	(1,376,000	)	$	(1,497,000	)
Depreciation and amortization	$	381,000		$	223,000		$	604,000
Stock-based compensation expense	$	294,000		$	165,000		$	459,000
Goodwill	$	781,000		$	--		$	781,000
Total assets	$	15,620,000		$	1,971,000		$	17,591,000

	Nine Months Ended September 30, 2018
	Device			Clinical Development			Total
Net revenues	$	6,822,000		$	162,000		$	6,984,000
Cost of revenues		5,419,000			195,000			5,614,000
Gross profit		1,403,000			(33,000	)		1,370,000
Operating expenses		6,858,000			30,208,000			37,066,000
Operating loss	$	(5,455,000	)	$	(30,241,000	)	$	(35,696,000	)
Depreciation and amortization	$	296,000		$	210,000		$	506,000
Impairment Charges	$	--		$	27,202,000		$	27,202,000
Stock-based compensation expense	$	88,000		$	387,000		$	475,000
Total assets	$	10,213,000		$	11,386,000		$	21,599,000