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Summary of Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share

The following tables show the computation of basic and diluted net income (loss) per share for the three and nine months ended September 30, 2021 and 2020, (common stock in thousands, except share and per share amounts):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income available to stockholders,
   basic

 

$

(12,673

)

 

$

5,900

 

 

$

(32,954

)

 

$

(14,892

)

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable stock options

 

 

 

 

 

411

 

 

 

 

 

 

 

Net (loss) income available to stockholders,
   diluted

 

$

(12,673

)

 

$

6,311

 

 

$

(32,954

)

 

$

(14,892

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding,
   basic

 

 

18,732,459

 

 

 

3,798,504

 

 

 

8,998,895

 

 

 

3,672,121

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable stock options

 

 

 

 

 

1,757,399

 

 

 

 

 

 

 

Preferred stock warrants

 

 

 

 

 

15,890

 

 

 

 

 

 

 

Weighted-average shares, diluted

 

 

18,732,459

 

 

 

5,571,793

 

 

 

8,998,895

 

 

 

3,672,121

 

Basic net (loss) income per share

 

$

(0.68

)

 

$

1.55

 

 

$

(3.66

)

 

$

(4.06

)

Diluted net (loss) income per share

 

$

(0.68

)

 

$

1.13

 

 

$

(3.66

)

 

$

(4.06

)

Series G Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to stockholder, basic

 

$

 

 

$

0.01

 

 

$

 

 

$

(0.76

)

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable preferred stock and warrants

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to stockholder, diluted

 

$

 

 

$

0.01

 

 

$

 

 

$

(0.76

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding, basic and diluted

 

 

 

 

 

1

 

 

 

 

 

 

1

 

Basic net income (loss) per share

 

 

 

 

$

0.01

 

 

 

 

 

$

(0.76

)

Diluted net income (loss) per share

 

 

 

 

$

0.01

 

 

 

 

 

$

(0.76

)

 

Schedule of Dilutive Securities Excluded from Computation of Income (Loss) Per Share

The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their impact under the “treasury stock method” and “if-converted method” was anti-dilutive for the periods presented:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Redeemable convertible preferred stock

 

 

 

 

 

14,849,188

 

 

 

 

 

 

14,849,188

 

Preferred stock warrants

 

 

 

 

 

 

 

 

 

 

 

227,762

 

Stock options

 

 

5,046,965

 

 

 

 

 

 

4,565,932

 

 

 

 

Redeemable stock options

 

 

 

 

 

1,803,687

 

 

 

 

 

 

3,905,753

 

Restricted stock units

 

 

232,805

 

 

 

 

 

 

78,455

 

 

 

 

Schedule of Revenue from Contracts with Customers

For the three and nine months ended September 30, 2021 and 2020, revenue from sales from contracts with customers consisted of the following (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LDD (including training)

 

$

3,661

 

 

$

2,655

 

 

$

8,463

 

 

$

6,864

 

RxLAL

 

 

1,944

 

 

 

1,444

 

 

 

5,264

 

 

 

2,734

 

Service warranty, service contracts, and accessories

 

 

181

 

 

 

71

 

 

 

440

 

 

 

166

 

 

 

$

5,786

 

 

$

4,170

 

 

$

14,167

 

 

$

9,764

 

Schedule of Deferred Revenue Activity

The following table represents the deferred revenue from sales activity for the nine months ended September 30, 2021 and 2020, respectively (in thousands):

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

345

 

 

$

39

 

 

Consideration deferred during the period

 

 

506

 

 

 

303

 

 

Revenue recognized during the period

 

 

(402

)

 

 

(94

)

 

Balance at end of period

 

$

449

 

 

$

248

 

 

 

For the three months ended September 30, 2021, the Company had one customer who individually accounted for approximately 11% of revenue. For nine months ended September 30, 2021, the Company had no customer who individually accounted for more than 10% of revenue. For the three and nine months ended September 30, 2020 the Company had one customer who individually accounted for approximately 33% and 37% of revenue, respectively.