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Segment Reporting and Geographic Information
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Reporting and Geographic Information

(12) Segment Reporting and Geographic Information

 

(a)

Reportable Segments

The Company has two reportable segments: Breast Products and miraDry. The Breast Products segment focuses on sales of silicone gel breast implants, tissue expanders and scar management products under the brands Sientra, AlloX2, Dermaspan, Softspan and BIOCORNEUM. The miraDry segment focuses on sales of the miraDry System, consisting of a console and a handheld device which uses consumable single-use bioTips. These segments align with the Company’s principal target markets. On July 25, 2017, the Company acquired miraDry, and on November 7, 2019, the Company acquired Vesta. See Note 4 – Acquisitions for additional details. miraDry has been included in the consolidated results of operations as of the acquisition date and financial performance of the acquired business is reported in the miraDry segment. Vesta has been included in the consolidated results of operations as of the acquisition date and financial performance of the acquired business is reported in the Breast Products segment.

 

The Company’s CODM assesses the performance of each segment and allocates resources to those segments based on net sales and operating income (loss). Operating income (loss) by segment includes items that are directly attributable to each segment, including sales and marketing functions, as well as finance, information technology, human resources, legal and related corporate infrastructure costs, along with certain benefit-related expenses.  There are no unallocated expenses for the two segments.

 

 

 

The following tables present the net sales, net operating loss and net assets by reportable segment for the periods presented (in thousands):

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Breast Products

 

$

46,363

 

 

$

37,016

 

 

$

31,485

 

miraDry

 

 

37,336

 

 

 

31,110

 

 

 

5,057

 

Total net sales

 

$

83,699

 

 

$

68,126

 

 

$

36,542

 

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Loss from operations

 

 

 

 

 

 

 

 

 

 

 

 

Breast Products

 

$

(50,175

)

 

$

(53,047

)

 

$

(56,657

)

miraDry

 

 

(53,392

)

 

 

(26,727

)

 

 

(6,233

)

Total loss from operations

 

$

(103,567

)

 

$

(79,774

)

 

$

(62,890

)

 

 

 

December 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Assets

 

 

 

 

 

 

 

 

Breast Products

 

$

169,613

 

 

$

130,149

 

miraDry

 

 

34,791

 

 

 

38,210

 

Total assets

 

$

204,404

 

 

$

168,359

 

 

(b)

Geographic Information

Net sales are attributed to geographic areas based on where the Company’s products are shipped. The following table presents the net sales by geographical region for the periods presented (in thousands):

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

United States

 

$

62,277

 

 

$

49,975

 

 

$

33,473

 

International

 

 

21,422

 

 

 

18,151

 

 

 

3,069

 

Total net sales

 

$

83,699

 

 

$

68,126

 

 

$

36,542