Financials

v3.19.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 697 $ 161
Accounts receivable, net of allowance for doubtful accounts of $3,462 7,292 7,038
Other current assets 2,344 2,148
Total current assets 10,333 9,347
FIXED ASSETS, net of accumulated depreciation 3,821 4,056
OTHER ASSETS    
Operating lease right-of-use assets 2,422  
Restricted cash 350 350
Patents and other intangible assets, net of accumulated amortization 3,917 4,004
Investment in joint venture 92 92
Goodwill 17,257 17,257
Other 300 300
Total other assets 24,338 22,003
Total Assets 38,492 35,406
CURRENT LIABILITIES    
Accounts payable and accrued expenses 11,561 13,067
Operating lease liabilities 1,086  
Obligations under finance leases, current portion 321  
Obligations under finance leases, current portion   330
Deferred revenue 2,604 2,173
Line of credit 2,414 2,621
Term note 6,000 6,000
Convertible note, net 2,778 2,481
Advance from NovellusDx, Ltd., net 1,500 535
Other derivatives 55 86
Total current liabilities 28,319 27,293
Obligations under finance leases 294  
Obligations under finance leases   379
Operating lease liabilities, non-current 1,542  
Deferred rent payable and other 0 305
Warrant liability 255 248
Deferred revenue, long-term 403 379
Total Liabilities 30,813 28,604
STOCKHOLDERS’ EQUITY    
Preferred stock, authorized 9,764 shares, $0.0001 par value, none issued 0 0
Common stock, authorized 100,000 shares, $0.0001 par value, 56,276 and 27,726 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 6 3
Additional paid-in capital 170,022 164,455
Accumulated other comprehensive income (loss) (16) 60
Accumulated (deficit) (162,333) (157,716)
Total Stockholders’ Equity 7,679 6,802
Total Liabilities and Stockholders’ Equity $ 38,492 $ 35,406
v3.19.1
Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Revenue $ 6,839 $ 7,667
Cost of revenues 4,637 5,082
Gross profit 2,202 2,585
Operating expenses:    
Research and development 454 681
General and administrative 3,309 5,260
Sales and marketing 1,108 1,591
Merger costs 249 0
Total operating expenses 5,120 7,532
Loss from operations (2,918) (4,947)
Other income (expense):    
Interest expense (1,725) (239)
Interest income 2 21
Change in fair value of acquisition note payable 0 17
Change in fair value of other derivatives 31 0
Change in fair value of warrant liability (7) 692
Total other income (expense) (1,699) 491
Net (loss) $ (4,617) $ (4,456)
Basic and diluted net (loss) per share (usd per share) $ (0.09) $ (0.16)
Basic and diluted weighted-average shares outstanding (in shares) 48,933 27,049
Foreign currency translation (loss) $ (76) $ (20)
Comprehensive (loss) $ (4,693) $ (4,476)
v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) $ (4,617) $ (4,456)
Adjustments to reconcile net (loss) to net cash (used in) operating activities:    
Depreciation 270 429
Amortization 86 135
Provision for bad debts 0 464
Stock-based compensation 158 274
Change in fair value of warrant liability, acquisition note payable and other derivatives (24) (709)
Amortization of discount of debt and debt issuance costs 1,060 0
Interest added to Convertible Note 202 0
Loss in equity-method investment 0 2
Changes in:    
Accounts receivable (254) (160)
Other current assets (274) (143)
Operating lease right-of-use assets 221  
Other non-current assets 0 (5)
Accounts payable, accrued expenses and deferred revenue (1,051) (279)
Operating lease liabilities (242)  
Deferred rent payable and other 0 (24)
Net cash (used in) operating activities (4,465) (4,472)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (32) (221)
Patent costs 0 (32)
Net cash (used in) investing activities (32) (253)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on finance lease obligations (94)  
Principal payments on finance lease obligations   (86)
Proceeds from offerings of common stock, net of certain offering costs 5,412 0
Proceeds from borrowings on Silicon Valley Bank line of credit 4,915 0
Repayment of borrowings on Silicon Valley Bank line of credit (5,122) (627)
Net cash provided by (used in) financing activities 5,111 (713)
Effect of foreign exchange rates on cash and cash equivalents and restricted cash (78) (32)
Net increase (decrease) in cash and cash equivalents and restricted cash 536 (5,470)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning 511 9,891
Ending 1,047 4,421
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Cash paid for interest $ 304 245
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Fixed assets acquired through capital lease arrangements   $ 150

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