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Quarterly Results of Operation (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Summary of Unaudited Quarterly Results of Operations

The following is a summary of the Company’s unaudited quarterly results of operations for the fiscal years ended December 31, 2018 and 2017 (in thousands, except per share amounts):

 

 

 

Fiscal Year Ended December 31, 2018

 

 

 

1st

 

 

2nd

 

 

3rd

 

 

4th

 

 

Total

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Year

 

Total revenues

 

$

4,767

 

 

$

6,389

 

 

$

5,422

 

 

$

7,524

 

 

$

24,102

 

Cost of revenue

 

 

2,555

 

 

 

3,732

 

 

 

4,249

 

 

 

5,635

 

 

 

16,171

 

Gross profit

 

 

2,212

 

 

 

2,657

 

 

 

1,173

 

 

 

1,889

 

 

 

7,931

 

Amortization of intangible assets

 

 

2,827

 

 

 

2,743

 

 

 

2,674

 

 

 

2,624

 

 

 

10,868

 

Change in fair value of contingent consideration

 

 

627

 

 

 

812

 

 

 

(1,358

)

 

 

(1,092

)

 

 

(1,011

)

Acquisition related costs

 

 

 

 

 

 

 

 

345

 

 

 

302

 

 

 

647

 

Gain from sale of SurgiBot assets, net

 

 

(11,996

)

 

 

37

 

 

 

44

 

 

 

75

 

 

 

(11,840

)

Other operating expenses

 

 

13,911

 

 

 

14,954

 

 

 

14,343

 

 

 

18,205

 

 

 

61,413

 

Change in fair value of warrant liabilities

 

 

(1,829

)

 

 

17,507

 

 

 

8,760

 

 

 

(10,118

)

 

 

14,320

 

Reversal of transfer fee accrual

 

 

 

 

 

 

 

 

(2,994

)

 

 

 

 

 

(2,994

)

Interest income, interest expense and other expense

 

 

444

 

 

 

1,735

 

 

 

346

 

 

 

(843

)

 

 

1,682

 

Loss before income taxes

 

 

(1,772

)

 

 

(35,131

)

 

 

(20,987

)

 

 

(7,264

)

 

 

(65,154

)

Income tax benefit

 

 

890

 

 

 

883

 

 

 

781

 

 

 

823

 

 

 

3,377

 

Net loss

 

$

(882

)

 

$

(34,248

)

 

$

(20,206

)

 

$

(6,441

)

 

$

(61,777

)

Net loss per share - basic and diluted

 

$

0.00

 

 

$

(0.17

)

 

$

(0.10

)

 

$

(0.03

)

 

$

(0.30

)

 

 

 

Fiscal Year Ended December 31, 2017

 

 

 

1st

 

 

2nd

 

 

3rd

 

 

4th

 

 

Total

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Year

 

Total revenues

 

$

1,946

 

 

$

1,584

 

 

$

183

 

 

 

3,398

 

 

$

7,111

 

Cost of revenue

 

 

1,334

 

 

 

972

 

 

 

921

 

 

 

3,500

 

 

 

6,727

 

Gross profit (loss)

 

 

612

 

 

 

612

 

 

 

(738

)

 

 

(102

)

 

 

384

 

Amortization of intangible assets

 

 

1,636

 

 

 

1,687

 

 

 

1,821

 

 

 

2,714

 

 

 

7,858

 

Change in fair value of contingent consideration

 

 

1,227

 

 

 

(774

)

 

 

773

 

 

 

800

 

 

 

2,026

 

Issuance costs for warrants

 

 

 

 

 

627

 

 

 

 

 

 

 

 

 

627

 

Other operating expenses

 

 

13,627

 

 

 

11,538

 

 

 

12,337

 

 

 

14,298

 

 

 

51,800

 

Change in fair value of warrant liabilities

 

 

 

 

 

2,326

 

 

 

22,887

 

 

 

58,521

 

 

 

83,734

 

Interest income, interest expense and other expense

 

 

394

 

 

 

662

 

 

 

695

 

 

 

684

 

 

 

2,435

 

Loss before income taxes

 

 

(16,272

)

 

 

(15,454

)

 

 

(39,251

)

 

 

(77,119

)

 

 

(148,096

)

Income tax benefit

 

 

858

 

 

 

741

 

 

 

738

 

 

 

963

 

 

 

3,300

 

Net loss

 

$

(15,414

)

 

$

(14,713

)

 

$

(38,513

)

 

$

(76,156

)

 

$

(144,796

)

Net loss per share - basic and diluted

 

$

(0.13

)

 

$

(0.11

)

 

$

(0.26

)

 

$

(0.40

)

 

$

(0.97

)