MINERVA SURGICAL INC

2022 Q2 Form 10-Q Financial Statement

#000095017022009377 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.39M $27.90M $40.61M
YoY Change 92.7%
Cash & Equivalents $21.30M $27.90M $40.61M
Short-Term Investments
Other Short-Term Assets $10.95M $100.0K $149.0K
YoY Change 9.88% -58.95%
Inventory $16.93M $16.00M $15.68M
Prepaid Expenses $1.238M $1.264M
Receivables $7.017M $7.150M $7.292M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $57.28M $61.48M $75.00M
YoY Change 37.9% 65.13%
LONG-TERM ASSETS
Property, Plant & Equipment $5.765M $4.817M $4.594M
YoY Change 44.05% 59.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $524.0K $524.0K
YoY Change -100.0%
Total Long-Term Assets $36.68M $39.02M $40.09M
YoY Change -16.0% -14.02%
TOTAL ASSETS
Total Short-Term Assets $57.28M $61.48M $75.00M
Total Long-Term Assets $36.68M $39.02M $40.09M
Total Assets $93.96M $100.5M $115.1M
YoY Change 10.28% 25.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.273M $3.061M $3.629M
YoY Change -49.28% 3.51%
Accrued Expenses $15.32M $10.75M $10.66M
YoY Change 13.65% 4.49%
Deferred Revenue $281.0K $206.0K
YoY Change -5.94%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $189.0K
YoY Change -88.67%
Total Short-Term Liabilities $23.90M $26.47M $22.81M
YoY Change -54.43% -31.44%
LONG-TERM LIABILITIES
Long-Term Debt $39.21M $39.15M $39.09M
YoY Change -60.93% 32.84%
Other Long-Term Liabilities $0.00 $143.0K $9.094M
YoY Change -100.0%
Total Long-Term Liabilities $39.21M $39.15M $39.09M
YoY Change -74.67% 32.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.90M $26.47M $22.81M
Total Long-Term Liabilities $39.21M $39.15M $39.09M
Total Liabilities $63.11M $65.76M $70.99M
YoY Change -69.55% -62.76%
SHAREHOLDERS EQUITY
Retained Earnings -$260.5M -$249.6M
YoY Change 9.41%
Common Stock $28.00K $28.00K
YoY Change 2700.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.85M $34.74M $44.10M
YoY Change
Total Liabilities & Shareholders Equity $93.96M $100.5M $115.1M
YoY Change 10.28% 25.04%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4

Facts In Submission

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MINERVA SURGICAL, INC.
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CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Although these estimates are based on the</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Significant estimates and assumptions include accounts receivable allowances, inventory allowances, recoverability of long-term assets, valuation of equity instruments and equity-linked instruments, valuation of common stock, stock-based compensation, valuation of the redeemable convertible preferred stock warrant liability and derivative liabilities, valuation and estimated useful lives of intangible assets, deferred tax assets and related valuation allowances, impact</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> of contingencies and the Company’s incremental borrowing rate.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of credit risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents balances with established financial institutions and, at times, such balances with any one financial institution may be in excess of the Federal Deposit Insurance Corporation (FDIC) insured limits.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company earns revenue from sale of disposable devices and controllers to customers such as hospitals, ambulatory surgical centers and physician offices. The Company’s accounts receivable are derived from revenue earned from customers. The Company performs ongoing credit evaluations of its customers’ fina</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">ncial condition and generally requires no collateral from its customers. At March 31, 2022 and 2021, and for the periods then ended, </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> customer accounted for more than 10.0% of accounts receivable or revenue.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2022Q1 utrs Number Of Customer Accounted For Accounts Receivable Or Revenue
NumberOfCustomerAccountedForAccountsReceivableOrRevenue
0
CY2021Q1 utrs Number Of Customer Accounted For Accounts Receivable Or Revenue
NumberOfCustomerAccountedForAccountsReceivableOrRevenue
0
CY2022Q1 utrs Concentration Of Suppliers
ConcentrationOfSuppliers
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of suppliers </span><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company purchases certain components of its products from a single or small number of suppliers. A change in or loss of these suppliers could cause a delay in filling customer orders and a possible loss of sales, which could adversely affect our results of operations; however, management believes that suitable replacement suppliers could be obtained in such an event.</span></p>
CY2022Q1 utrs Expected Operating Lease Right Of Use Assets
ExpectedOperatingLeaseRightOfUseAssets
900000
CY2022Q1 utrs Expected Operating Lease Liability
ExpectedOperatingLeaseLiability
1200000
CY2022Q1 utrs Expected Derecognized Deferred Rent
ExpectedDerecognizedDeferredRent
300000
CY2022Q1 utrs Percentage Of Revenue From Contract With Customer Excluding Assessed Tax
PercentageOfRevenueFromContractWithCustomerExcludingAssessedTax
1
CY2021Q1 utrs Percentage Of Revenue From Contract With Customer Excluding Assessed Tax
PercentageOfRevenueFromContractWithCustomerExcludingAssessedTax
1
CY2022Q1 utrs Percentage Of Revenue Subject To Point In Time Recognition
PercentageOfRevenueSubjectToPointInTimeRecognition
0.994
CY2021Q1 utrs Percentage Of Revenue Subject To Point In Time Recognition
PercentageOfRevenueSubjectToPointInTimeRecognition
0.986
CY2022Q1 utrs Minimum Percentage Of Sale Extended Warranties On Capital Equipment
MinimumPercentageOfSaleExtendedWarrantiesOnCapitalEquipment
0.010
CY2021Q1 utrs Minimum Percentage Of Sale Extended Warranties On Capital Equipment
MinimumPercentageOfSaleExtendedWarrantiesOnCapitalEquipment
0.014
CY2022Q1 utrs Maximum Percentage Of Total Revenue Derived From Sale Of Single Use Disposable Products
MaximumPercentageOfTotalRevenueDerivedFromSaleOfSingleUseDisposableProducts
0.970
CY2021Q1 utrs Maximum Percentage Of Total Revenue Derived From Sale Of Single Use Disposable Products
MaximumPercentageOfTotalRevenueDerivedFromSaleOfSingleUseDisposableProducts
0.958
CY2022Q1 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
7150000
CY2021Q4 us-gaap Contract With Customer Receivable Allowance For Credit Loss
ContractWithCustomerReceivableAllowanceForCreditLoss
7292000
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
281000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
206000
CY2022Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
26281000
CY2022Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
26281000
CY2022Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
8943000
CY2022Q1 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
8943000
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
38522000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
38522000
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
14094000
CY2021Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
14094000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
14094000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-151000
CY2022Q1 utrs Payments
Payments
-5000000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
8943000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13911000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9727000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9317000
CY2022Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
26281000
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
38522000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27904000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40608000
CY2022Q1 us-gaap Cash
Cash
1623000
CY2021Q4 us-gaap Cash
Cash
2086000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4817000
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9194000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9495000
CY2022Q1 utrs Inventory Component Materials
InventoryComponentMaterials
6810000
CY2021Q4 utrs Inventory Component Materials
InventoryComponentMaterials
6187000
CY2022Q1 us-gaap Inventory Net
InventoryNet
16004000
CY2021Q4 us-gaap Inventory Net
InventoryNet
15682000
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1238000
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1264000
CY2022Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1804000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2726000
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
100000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
149000
CY2022Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3142000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4139000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14544000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4594000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48278000
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15340000
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
32938000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48264000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
13294000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
34970000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2100000
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2100000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6136000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
5376000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3693000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3693000
CY2022Q1 utrs Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
14040000
CY2022Q1 utrs Finite Lived Future Amortization Of Intangible Assets Net
FiniteLivedFutureAmortizationOfIntangibleAssetsNet
32938000
CY2021Q4 utrs Accrued Deferred Rent
AccruedDeferredRent
277000
CY2022Q1 utrs Accrual For Inventory In Transit
AccrualForInventoryInTransit
1079000
CY2021Q4 utrs Accrual For Inventory In Transit
AccrualForInventoryInTransit
119000
CY2022Q1 utrs Accrued Contract Liability
AccruedContractLiability
281000
CY2022Q1 us-gaap Accrued Vacation Current And Noncurrent
AccruedVacationCurrentAndNoncurrent
1520000
CY2021Q4 us-gaap Accrued Vacation Current And Noncurrent
AccruedVacationCurrentAndNoncurrent
1469000
CY2022Q1 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
639000
CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
1307000
CY2022Q1 utrs Accrued Commissions Current And Noncurrent
AccruedCommissionsCurrentAndNoncurrent
596000
CY2021Q4 utrs Accrued Commissions Current And Noncurrent
AccruedCommissionsCurrentAndNoncurrent
665000
CY2022Q1 utrs Other Accrued Personnel Related Expenses
OtherAccruedPersonnelRelatedExpenses
132000
CY2021Q4 utrs Other Accrued Personnel Related Expenses
OtherAccruedPersonnelRelatedExpenses
77000
CY2022Q1 utrs Accrued Compensation
AccruedCompensation
2887000
CY2021Q4 utrs Accrued Compensation
AccruedCompensation
3518000
CY2021Q4 utrs Accrued Contract Liability
AccruedContractLiability
206000
CY2022Q1 utrs Accrued Interest Expense
AccruedInterestExpense
193000
CY2021Q4 utrs Accrued Interest Expense
AccruedInterestExpense
189000
CY2022Q1 utrs Accrued Litigation
AccruedLitigation
7203000
CY2021Q4 utrs Accrued Litigation
AccruedLitigation
7203000
CY2022Q1 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
563000
CY2021Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
974000
CY2022Q1 utrs Accrued Sales And Use Taxes
AccruedSalesAndUseTaxes
633000
CY2021Q4 utrs Accrued Sales And Use Taxes
AccruedSalesAndUseTaxes
657000
CY2022Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
796000
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1037000
CY2022Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
10748000
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
10662000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1000000.0
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
163000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
83000
CY2022Q1 us-gaap Lease Cost
LeaseCost
246000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
208000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
741000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M12D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
700000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
637000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
358000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
995000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
974000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
831000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
143000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
846000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
358000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1204000
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q2 utrs Class Of Warrant Or Right To Purchase Of Common Stock Issuance Date
ClassOfWarrantOrRightToPurchaseOfCommonStockIssuanceDate
2017-05-09
CY2017Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33964
CY2017Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.31
CY2017Q2 utrs Class Of Warrant Or Right Classification
ClassOfWarrantOrRightClassification
Equity
CY2017Q2 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2027-05-08
CY2019Q3 utrs Class Of Warrant Or Right To Purchase Of Common Stock Issuance Date
ClassOfWarrantOrRightToPurchaseOfCommonStockIssuanceDate
2019-07-19
CY2019Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
43878
CY2019Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.31
CY2019Q3 utrs Class Of Warrant Or Right Classification
ClassOfWarrantOrRightClassification
Equity
CY2019Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2029-07-18
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
77842
CY2022Q1 utrs Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
77842
CY2021Q4 utrs Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
77842
CY2022Q1 utrs Common Stock Options Issued And Outstanding
CommonStockOptionsIssuedAndOutstanding
2179647
CY2021Q4 utrs Common Stock Options Issued And Outstanding
CommonStockOptionsIssuedAndOutstanding
2175685
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1924967
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1934095
CY2022Q1 utrs Restricted Stock Units Issued And Outstanding
RestrictedStockUnitsIssuedAndOutstanding
390750
CY2021Q4 utrs Restricted Stock Units Issued And Outstanding
RestrictedStockUnitsIssuedAndOutstanding
394750
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2175685
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.27
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M4D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2856000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
39600
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.49
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5166
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.61
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
30472
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
8.06
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2179647
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.24
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M15D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2383000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1542586
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.30
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y2M1D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1830000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2179647
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
9.24
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y5M15D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2383000
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1000000.0
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
100000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.50
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.36
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7900000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y4M24D
CY2022Q1 utrs Repurchase Of Common Stock
RepurchaseOfCommonStock
0
CY2021Q1 utrs Repurchase Of Common Stock
RepurchaseOfCommonStock
0
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
311836
CY2021 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
377709
CY2022Q1 utrs Share Based Compensation Arrangements By Share Based Payment Award Options Aggregate Exercise Prices Of Early Exercised Shares
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAggregateExercisePricesOfEarlyExercisedShares
200000
CY2021 utrs Share Based Compensation Arrangements By Share Based Payment Award Options Aggregate Exercise Prices Of Early Exercised Shares
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAggregateExercisePricesOfEarlyExercisedShares
200000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1523000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
131000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1523000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
131000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.708
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.729
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.746
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.019
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.006
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.011
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10925000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-14948000
CY2022Q1 utrs Weighted Average Shares Used In Computing Net Loss Per Share Basic And Diluted
WeightedAverageSharesUsedInComputingNetLossPerShareBasicAndDiluted
28480745
CY2021Q1 utrs Weighted Average Shares Used In Computing Net Loss Per Share Basic And Diluted
WeightedAverageSharesUsedInComputingNetLossPerShareBasicAndDiluted
1170458
CY2022Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-12.77

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