Segment Reporting

9 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Reporting

13. Segment Reporting

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision-maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance of the segment. The Company has concluded that its Chief Executive Officer is the CODM as he is the ultimate decision maker for key operating decisions, determining the allocation of resources and assessing the financial performance of the Company. These decisions, allocations and assessments are performed by the CODM using consolidated financial information. Consolidated financial information is utilized by the CODM as the Company’s current product offering primarily consists of minimally invasive therapeutic ultrasonic medical devices. The Company’s products are relatively consistent and manufacturing is centralized and consistent across product offerings. Based on these factors, key operating decisions and resource allocations are made by the CODM using consolidated financial data and as such the Company has concluded that it operates as one segment.

Worldwide revenue for the Company’s products and license revenue is categorized as follows:

	For the three months ended				For the nine months ended
	March 31,				March 31,
Product revenue:	2018		2017		2018		2017
Domestic	$	4,931,028	$	4,015,308	$	14,983,595	$	12,019,103
International		3,498,104		3,162,455		9,050,105		7,360,665
Total		8,429,132		7,177,763		24,033,700		19,379,768
License revenue		4,010,000		—		4,010,000		—
Total revenue	$	12,439,132	$	7,177,763	$	28,043,700	$	19,379,768

Substantially all of the Company’s long-lived assets are located in the United States.