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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenue $ 4,436,400 $ 3,972,445 $ 11,116,199 $ 12,464,812
Cost of revenue:        
Total cost of revenue 415,958 772,843 1,359,564 2,715,903
Gross profit 4,020,442 3,199,602 9,756,635 9,748,909
Operating expenses:        
Research and development costs 600,430 782,161 1,809,354 2,503,008
Selling and marketing 1,026,241 1,067,436 3,027,372 3,436,783
General and administrative 358,701 1,454,103 2,297,451 4,280,188
Restructuring costs 317,595 384,829 758,740 745,201
Total operating expenses 2,302,967 3,688,529 7,892,917 10,965,180
Operating income (loss) 1,717,475 (488,927) 1,863,718 (1,216,271)
Interest and other expense (159,994) (123,261) (586,082) (468,717)
Income (loss) before income taxes 1,557,481 (612,188) 1,277,636 (1,684,988)
Income tax expense (benefit) 11,272 (55,274) 44,709 168,556
Net income (loss) 1,546,209 (556,914) 1,232,927 (1,853,544)
Less: Accrual of Series A redeemable convertible preferred stock dividends 266,007 266,447 812,362 770,027
Less: Accretion to redemption value of Series A redeemable convertible preferred stock 175,335 139,399 366,566 402,861
Net income (loss) attributable to common stockholders $ 1,104,867 $ (962,760) $ 53,999 $ (3,026,432)
Basic net loss per share attributable to common stockholders (in dollars per share) $ 0.19 $ (0.16) $ 0.01 $ (0.51)
Diluted net loss per share attributable to common stockholders (in dollars per share) $ 0.15 $ (0.16) $ 0.01 $ (0.51)
Weighted average basic shares outstanding (in shares) 5,919,837 5,910,718 5,919,773 5,887,638
Weighted average diluted shares outstanding (in shares) 7,393,082 5,910,718 7,197,050 5,887,638
Product revenue        
Revenue:        
Total revenue $ 2,521,695 $ 1,663,782 $ 5,202,713 $ 4,879,996
Cost of revenue:        
Total cost of revenue 48,895 241,134 250,185 1,076,604
Support and services revenue        
Revenue:        
Total revenue 1,914,705 2,308,663 5,913,486 7,584,816
Cost of revenue:        
Total cost of revenue $ 367,063 $ 531,709 $ 1,109,379 $ 1,639,299