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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Schedule of Company's liabilities that are measured at fair value on a recurring basis

The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis as of December 31, 2017 and 2016 and indicate the level of the fair value hierarchy utilized to determine such fair value (in thousands):

 

 

 

Fair Value Measurements as of

 

 

 

December 31, 2017 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability for common stock warrants

 

$

 

 

 

 

 

 

194

 

 

 

194

 

Liability for deferred consideration

 

 

 

 

 

 

 

 

1,255

 

 

 

1,255

 

Liability for contingent consideration

 

 

 

 

 

 

 

 

12,319

 

 

 

12,319

 

 

 

$

 

 

 

 

 

 

13,768

 

 

 

13,768

 

 

 

 

Fair Value Measurements as of

 

 

 

December 31, 2016 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability for common stock warrants

 

$

 

 

 

 

 

 

99

 

 

 

99

 

Liability for deferred consideration

 

 

 

 

 

 

 

 

395

 

 

 

395

 

Liability for contingent consideration

 

 

 

 

 

 

 

 

1,242

 

 

 

1,242

 

 

 

$

 

 

 

 

 

 

1,736

 

 

 

1,736

 

 

Schedule of aggregate fair values of the Company's common stock warrants and contingent consideration for which fair value is determined by Level 3 inputs

The following table provides a rollforward of the aggregate fair values of the Company’s common stock warrants, deferred and contingent consideration for which fair value is determined by Level 3 inputs (in thousands):  

 

Warrant Liability

 

 

 

 

Balance, December 31, 2016

 

$

99

 

Fair value of warrants to be issued upon borrowing under the SVB Loan Agreement (Note 5)

 

 

88

 

Warrants extinguished upon termination of SVB Loan Agreement

 

 

(88

)

Change in fair value through December 31, 2017

 

 

95

 

Balance, December 31, 2017

 

$

194

 

Deferred Consideration Liability

 

 

 

 

Balance, December 31, 2016

 

$

395

 

Initial fair value of acquisition-related deferred consideration

 

 

966

 

Change in fair value of deferred consideration

 

 

(106

)

Balance, December 31, 2017

 

$

1,255

 

Contingent Consideration Liability

 

 

 

 

Balance, December 31, 2016

 

$

1,242

 

Initial fair value of acquisition-related contingent consideration

 

 

9,946

 

Change in fair value of contingent consideration

 

 

1,131

 

Balance, December 31, 2017

 

$

12,319

 

 

Schedule of rollforward of the accrued warranties

The following table provides a rollforward of the accrued warranties (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Beginning balance as of January 1

 

$

1,378

 

 

$

1,332

 

Assumed warranty liability from acquisition

 

 

137

 

 

 

 

Warranty costs incurred during the period

 

 

(167

)

 

 

(25

)

Changes in accrual related to warranties issued during the period

 

 

301

 

 

 

177

 

Changes in accrual related to pre-existing warranties

 

 

(7

)

 

 

(106

)

Balance as of December 31

 

$

1,642

 

 

$

1,378

 

 

Schedule of net loss per share, basic and diluted

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Net loss (in thousands)

 

$

(64,028

)

 

$

(40,166

)

 

$

(41,230

)

Weighted average common shares outstanding, basic

   and diluted

 

 

19,159,057

 

 

 

18,233,177

 

 

 

15,770,972

 

Net loss per share attributable to common stockholders

 

$

(3.34

)

 

$

(2.20

)

 

$

(2.61

)

 

Schedule of potentially dilutive securities excluded from the computation of diluted net loss per share attributable to common stockholders

The Company excluded the following potentially dilutive securities, outstanding as of December 31, 2017, 2016 and 2015 from the computation of diluted net loss per share attributable to common stockholders for the years ended December 31, 2017, 2016 and 2015 because they had an anti-dilutive impact due to the net loss attributable to common stockholders incurred for the periods.

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Stock options to purchase common stock

 

 

1,867,627

 

 

 

2,057,296

 

 

 

1,967,906

 

Warrants for the purchase of common stock

 

 

47,710

 

 

 

47,710

 

 

 

47,710

 

 

 

 

1,915,337

 

 

 

2,105,006

 

 

 

2,015,616

 

 

Stock Option  
Schedule of fair value of employee stock options estimated using Black-Scholes option valuation model

The following table presents the weighted‑average assumptions used to estimate the fair value of options granted during the periods presented:

 

 

 

Year Ended December 31,

Stock Options

 

2017

 

2016

 

2015

Expected term (in years)

 

 

4.47

 

 

to

 

6.07

 

 

 

 

5.47

 

 

to

 

6.07

 

 

 

 

5.27

 

 

to

 

6.08

 

 

Expected volatility

 

 

45

 

%

to

 

56

 

%

 

 

51

 

%

to

 

53

 

%

 

 

45

 

%

to

 

52

 

%

Risk-free interest rate

 

 

1.24

 

%

to

 

2.45

 

%

 

 

1.42

 

%

to

 

1.54

 

%

 

 

1.48

 

%

to

 

1.92

 

%

Dividend yield

 

 

 

 

Employee Stock Purchase Plan  
Schedule of fair value of employee stock options estimated using Black-Scholes option valuation model

The following table presents the weighted-average assumptions used to estimate the fair value of the stock purchase rights granted under the employee stock purchase plan:

 

 

Year Ended December 31,

ESPP

 

2017

 

2016

 

2015

Expected term (in years)

 

 

0.50

 

 

to

 

2.10

 

 

 

 

0.50

 

 

to

 

2.10

 

 

 

 

0.50

 

 

to

 

2.10

 

 

Expected volatility

 

 

46

 

%

to

 

55

 

%

 

 

42

 

%

to

 

58

 

%

 

 

42

 

%

to

 

44

 

%

Risk-free interest rate

 

 

0.08

 

%

to

 

1.30

 

%

 

 

0.08

 

%

to

 

0.85

 

%

 

 

0.08

 

%

to

 

0.71

 

%

Dividend yield