$ATEX
Anterix Inc.

2019 Q1 Form 10-Q Financial Statement

#000130449219000009 Filed on February 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2017 Q4
Revenue $1.302M $1.501M $1.601M
YoY Change -26.69% -6.25% 19.48%
Cost Of Revenue $1.690M $974.0K $2.016M
YoY Change -25.55% -51.69% 10.16%
Gross Profit -$391.0K -$113.0K -$415.0K
YoY Change -21.01% -72.77% -17.0%
Gross Profit Margin -30.03% -7.53% -25.92%
Selling, General & Admin $7.300M $100.0K $7.083M
YoY Change -2.41% -98.59% 12.97%
% of Gross Profit
Research & Development $450.0K $647.0K $592.0K
YoY Change -22.41% 9.29% 9.63%
% of Gross Profit
Depreciation & Amortization $710.0K $700.0K $700.0K
YoY Change -5.33% 0.0% 18.64%
% of Gross Profit
Operating Expenses $7.750M $8.615M $7.675M
YoY Change -3.85% 12.25% 12.7%
Operating Profit -$8.141M -$8.727M -$8.090M
YoY Change -4.84% 7.87% 10.67%
Interest Expense $380.0K $390.0K $1.000K
YoY Change 52.0% 38900.0% -95.0%
% of Operating Profit
Other Income/Expense, Net -$10.00K -$16.00K -$9.000K
YoY Change -80.0% 77.78% -10.0%
Pretax Income -$8.880M -$8.350M -$7.903M
YoY Change 6.22% 5.66% 8.41%
Income Tax $690.0K $0.00 -$7.804M
% Of Pretax Income
Net Earnings -$9.561M -$8.351M -$99.00K
YoY Change 14.37% 8335.35% -98.64%
Net Earnings / Revenue -734.33% -556.36% -6.18%
Basic Earnings Per Share
Diluted Earnings Per Share -$650.8K -$571.5K -$6.920K
COMMON SHARES
Basic Shares Outstanding 14.70M 14.63M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.70M $82.30M $104.2M
YoY Change -21.97% -21.02% -20.28%
Cash & Equivalents $76.72M $82.35M $104.2M
Short-Term Investments
Other Short-Term Assets $1.200M $1.800M $1.400M
YoY Change 33.33% 28.57% 40.0%
Inventory $0.00 $100.0K
Prepaid Expenses
Receivables $444.0K $583.0K $800.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $78.35M $84.70M $106.6M
YoY Change -21.87% -20.54% -19.61%
LONG-TERM ASSETS
Property, Plant & Equipment $9.830M $10.38M $13.40M
YoY Change -23.05% -22.57% -11.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $845.0K $866.0K $600.0K
YoY Change 73.87% 44.33% 100.0%
Total Long-Term Assets $118.4M $119.0M $120.7M
YoY Change -1.38% -1.43% 0.5%
TOTAL ASSETS
Total Short-Term Assets $78.35M $84.70M $106.6M
Total Long-Term Assets $118.4M $119.0M $120.7M
Total Assets $196.8M $203.7M $227.3M
YoY Change -10.7% -10.39% -10.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $743.0K $31.00K $0.00
YoY Change 55.11%
Accrued Expenses $825.0K
YoY Change 39.83%
Deferred Revenue $792.0K $797.0K
YoY Change -2.58%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K
YoY Change 0.0%
Total Short-Term Liabilities $8.839M $7.912M $5.300M
YoY Change 69.04% 49.28% 3.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $2.999M $3.878M $6.600M
YoY Change 28.99% -41.24% 3.13%
Total Long-Term Liabilities $2.999M $3.878M $6.600M
YoY Change 28.99% -41.24% -4.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.839M $7.912M $5.300M
Total Long-Term Liabilities $2.999M $3.878M $6.600M
Total Liabilities $15.99M $15.45M $11.90M
YoY Change 35.37% 29.85% -0.83%
SHAREHOLDERS EQUITY
Retained Earnings -$168.5M -$158.9M
YoY Change 32.4%
Common Stock $1.000K $1.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $180.8M $188.2M $215.4M
YoY Change
Total Liabilities & Shareholders Equity $196.8M $203.7M $227.3M
YoY Change -10.7% -10.39% -10.05%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income -$9.561M -$8.351M -$99.00K
YoY Change 14.37% 8335.35% -98.64%
Depreciation, Depletion And Amortization $710.0K $700.0K $700.0K
YoY Change -5.33% 0.0% 18.64%
Cash From Operating Activities -$6.130M -$4.750M -$5.600M
YoY Change 20.67% -15.18% 5.46%
INVESTING ACTIVITIES
Capital Expenditures -$240.0K -$280.0K -$230.0K
YoY Change 20.0% 21.74% -76.04%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$240.0K -$280.0K -$230.0K
YoY Change 20.0% 21.74% -76.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 730.0K 1.740M -460.0K
YoY Change -212.31% -478.26%
NET CHANGE
Cash From Operating Activities -6.130M -4.750M -5.600M
Cash From Investing Activities -240.0K -280.0K -230.0K
Cash From Financing Activities 730.0K 1.740M -460.0K
Net Change In Cash -5.640M -3.290M -6.290M
YoY Change -4.89% -47.69% 0.32%
FREE CASH FLOW
Cash From Operating Activities -$6.130M -$4.750M -$5.600M
Capital Expenditures -$240.0K -$280.0K -$230.0K
Free Cash Flow -$5.890M -$4.470M -$5.370M
YoY Change 20.7% -16.76% 23.45%

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:24pt;"><p style="width:24pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;;"> 1.</font> </p> </td><td style="width:4pt;"><p style="width:4pt;width:4pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"> <a name="_a57c485f3f0b42fcb0e3a750d1120a3f"></a><a name="_c4636a62d189406084cba177be7fb6f0"></a><a name="_d8a8341327554d4ebcf205d290d7487f"></a><a name="_0f6a0a6e2a394fc58bfb1ecc70c694c2"></a><a name="_cd1640a63f94455b873df1af22a561a6"></a><a name="_bbd427d8b2e74c96b5170ca83374c4c2"></a><a name="_fdf15b296873451d929a603013c2e6df"></a><a name="_6ca06ea1c7b9461e96bb7b28b172f8a8"></a><a name="_ef9bf4ed8705470e9303078be3421933"></a><a name="_ca60858c6baf4548a5f2f26ce00dc6b3"></a><a name="_c89aa9a0aa0b494593850c32e958c87f"></a><a name="_f8fd29f3a29a4f709cb9bae453211f43"></a><a name="_b375c190244340b5936100f9f828e0ef"></a><a name="_eaf049ee426d410d85a82032a8dff005"></a><a name="_70ebbd5508ac4c82b5fab32faae0f37b"></a><a name="_89459b7ccb5d4ba0aac65654d737e60e"></a><a name="_c156b38d14cc41da81b7326a8f91e158"></a><a name="_2ac8b43fcc0745abbfc61607d99a5315"></a><a name="_9cabe1476914469896e18c142a609e9a"></a><a name="_190cab37e54046e89acc6b6cd8d212a2"></a><a name="_e6ad40e3a53c425fac4065c1d96db693"></a><a name="_8c0ba0d330904e6b90b1d8f0f0493269"></a><a name="_8e823e50a17f49abb702fef12d8d7f64"></a><a name="_7613991a017645f496f7704170ec2235"></a><a name="_f5bdffa528e9478d8279a59f5999e450"></a><a name="_a58a398639a9413fa0fef8dfb17eb7d5"></a><a name="_3d188d6b97aa484d87edae566aff8413"></a><a name="_2b193d73bfd84987936a0408bd2d7a40"></a><a name="_43f48ffe2e8b45928585fca40bac7574"></a><a name="_4cabe0e42f4940cd92160f376e81a83f"></a><a name="_72e87c1bdefa432699cb8bbfb8e38c84"></a><a name="_74dc763d3af543e9a35161955d3dc700"></a><a name="_876aa68ac05c4aeca091d358937fe735"></a><a name="_e473c27546c840a2b94675ba23a2d764"></a><a name="_cb3791b62dc4461db4ccdc517bfbc0e2"></a><a name="_b1d9e5316ad645c2b0c02125db35690a"></a><a name="_14b3490b16e44859837ba46301da3656"></a><a name="_71c61477ff4d4879827a9a0ce50a02f7"></a><a name="_d4bc3823e7644180b9a02267fede3ae5"></a><a name="_e863c032d3fd4779851252d315f15d5b"></a><a name="_8652a8a55a6247f88128da9d57584839"></a><a name="_b9e5e0feb4404555b95dbf85960b8726"></a><a name="_6496fa95c1a1431f90dd1d976aa19044"></a><a name="_3d0fa350a17144d5a4ee5426b52bd38e"></a><a name="_09bd8c7cae534f09982e0c5164395544"></a><a name="_3243c9c8136f4f318175d9695749646a"></a><a name="_f873fda91ff1442c9946dbb89e65881b"></a><a name="_429ac491fdab465e933345a2b4c3e7df"></a><a name="_f3f6aa18a51a46879d2eafaa95ea9f0c"></a><a name="_0926cbba5deb4c57b7ce182a6f15927e"></a><font style="display: inline;font-weight:bold;color:#000000;">Nature of Operations </font></p></td></tr></table></div> <p style="margin:0pt 0pt 0pt 47pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">pdvWireless, Inc. (the &#x201C;Company&#x201D;) is a private wireless communications company focused on developing and offering its spectrum assets for the deployment of next generation network and mobile communication solutions designed to meet the needs of&nbsp;&nbsp;critical infrastructure and enterprise customers. The Company is the largest holder of licensed spectrum in the Part 90 900 MHz band (i.e., 896-901 MHz paired with 935-940 MHz) throughout the contiguous United States, plus Hawaii, Alaska and Puerto Rico. </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">The Company&#x2019;s first priority involves pursuing regulatory initiatives at the Federal Communications Commission (&#x201C;FCC&#x201D;) with the goal of modernizing and realigning the 900 MHz band to increase its usability and capacity, including for the future potential deployment of broadband and other advanced technologies and services.&nbsp; </font><font style="display: inline;color:#000000;">While it pursues these FCC initiatives, the Company is utilizing its spectrum assets to operate push-to-talk networks in </font><font style="display: inline;color:#000000;">seven</font><font style="display: inline;color:#000000;"> major metropolitan market areas, including Atlanta, Baltimore/Washington, Chicago, Dallas, Houston, New York and Philadelphia.&nbsp; </font><font style="display: inline;color:#000000;">At the same time, the Company is exploring and developing network and mobile communication solutions, leveraging its spectrum to address the unmet needs of its targeted critical infrastructure and enterprise customers.&nbsp;&nbsp;The Company is pursuing opportunities to enable additional network and mobile communication solutions for use by critical infrastructure and enterprise customers with its existing spectrum and currently available non-broadband technologies and, if the Company is successful with its FCC efforts, utilizing its spectrum assets to enable broadband and other advanced wireless service offerings.</font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">The Company was originally incorporated in California in 1997 and reincorporated in Delaware in 2014.&nbsp;&nbsp;In November 2015, the Company changed its name from Pacific DataVision, Inc. to pdvWireless, Inc.&nbsp;&nbsp;The Company maintains offices in Woodland Park, New Jersey, Reston, Virginia and San Diego, California.&nbsp; </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">The Company&#x2019;s revenues are derived substantially from its TeamConnect</font><font style="display: inline;color:#000000;font-size:5pt;vertical-align:super;line-height:100%">SM</font><font style="display: inline;color:#000000;"> and pdvConnect</font><font style="display: inline;color:#000000;font-size:5pt;vertical-align:super;line-height:100%">TM</font><font style="display: inline;color:#000000;"> offerings. During the year ended March 31, 2016, the Company began offering its TeamConnect, two-way radio service to businesses located in the seven markets in which it operates push-to-talk networks. Historically, the Company has offered pdvConnect, a proprietary suite of mobile communication and workforce management, principally to enterprise customers who utilize Tier 1 cellular networks. </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-family:inherit;color:#000000;">On June&nbsp;1, 2018, the Company&#x2019;s Board of Directors approved an initial plan to restructure its business aimed at reducing the future operating costs of its TeamConnect and pdvConnect businesses and better aligning and focusing its business priorities on its broadband spectrum initiatives.</font><font style="display: inline;color:#000000;"> &nbsp;In furtherance of this restructuring and realignment plan, the Company announced in January 2019 that it had entered into agreements to transfer the TeamConnect and pdvConnect businesses.&nbsp;&nbsp;Specifically, the Company entered into: (i) a Customer Acquisition and Resale Agreement (the &#x201C;A BEEP Agreement&#x201D;) with A BEEP LLC (&#x201C;A BEEP&#x201D;) on January 2, 2019, (ii) a Customer Acquisition, Resale and Licensing Agreement (the &#x201C;Goosetown Agreement&#x201D;) with Goosetown Enterprises, Inc. (&#x201C;Goosetown&#x201D;) on January 2, 2019 and (iii) a memorandum of understanding with the principals of Goosetown (the &#x201C;MOU&#x201D;) on December 31, 2018.&nbsp;&nbsp;The Company will continue operating its push-to-talk networks in the markets in which customers are being transferred and trunked facilities in other markets in which it holds FCC licenses.&nbsp; </font> </p> <p style="margin:6pt 0pt 0pt 22.3pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-family:inherit;color:#000000;">In connection with transferring the TeamConnect and pdvConnect businesses, on December 31, 2018, </font><font style="display: inline;font-family:inherit;color:#000000;">the Company&#x2019;s</font><font style="display: inline;font-family:inherit;color:#000000;"> Board of Directors approved the following cost-reduction and restructuring actions (the &#x201C;December 2018 Cost-Reduction Actions&#x201D;): (i) the elimination of approximately </font><font style="display: inline;font-family:inherit;color:#000000;">20</font><font style="display: inline;font-family:inherit;color:#000000;">&nbsp;positions, or </font><font style="display: inline;font-family:inherit;color:#000000;">30%</font><font style="display: inline;font-family:inherit;color:#000000;"> of </font><font style="display: inline;font-family:inherit;color:#000000;">its</font><font style="display: inline;font-family:inherit;color:#000000;"> workforce and (ii) the closure of </font><font style="display: inline;font-family:inherit;color:#000000;">its</font><font style="display: inline;font-family:inherit;color:#000000;"> office in San Diego, California.&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;">&nbsp;</font> </p> <p style="margin:0pt 0pt 0pt 24.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;color:#000000;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-255000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2425000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2678000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1434000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16906000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16960000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
5000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
748000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
492000
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
850000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1768000
CY2018Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
100000
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
100000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:12pt 0pt 0pt 22.3pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-style:italic;">Reclassifications </font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">Certain prior year amounts have been reclassified to conform to the presentation of the corresponding amounts in the financial statements for the three months and nine months ended December 31, 2018. These reclassifications had no effect on previously reported results of operations, cash flows, assets, liabilities or equity for the periods presented.</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
234000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2564000
us-gaap Net Income Loss
NetIncomeLoss
-16210000
us-gaap Operating Expenses
OperatingExpenses
22122000
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
7675000
us-gaap Operating Expenses
OperatingExpenses
33132000
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
8615000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
10111000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1541000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1905000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2193000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
2569000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
537000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1900000
CY2017Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
600000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2000000
CY2018Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
600000
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
486000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
866000
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2325000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3878000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-29000
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-9000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-16000
us-gaap Payments For Restructuring
PaymentsForRestructuring
673000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
489000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
139000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1930000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
937000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17219000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
209297000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2564000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
26000
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12775000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10376000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
280000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
400000
CY2018Q4 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
200000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1772000
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
592000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1864000
CY2018Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
654000
CY2018Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20
CY2018Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
7
CY2018Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20
CY2018Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.20
CY2018Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.30
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
3305000
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
4500000
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-127239000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-158903000
us-gaap Revenues
Revenues
4579000
CY2017Q4 us-gaap Revenues
Revenues
1601000
us-gaap Revenues
Revenues
5199000
CY2018Q4 us-gaap Revenues
Revenues
1501000
CY2018Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
620000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5009000
CY2017Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1619000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3116000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
400000
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
100000
us-gaap Severance Costs1
SeveranceCosts1
408000
CY2018Q4 us-gaap Severance Costs1
SeveranceCosts1
0
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
227896000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
214514000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
215430000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
208529000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
193379000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
188226000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3970000
CY2017Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1455000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
8936000
CY2018Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1459000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
234000
CY2017Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
20000
CY2018Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1739000
us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:12pt 0pt 0pt 22.3pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-style:italic;">Use of Estimates</font> </p> <p style="margin:6pt 0pt 0pt 22.5pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">Management may be required 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 period. The most significant estimates relate to allowance for doubtful accounts, estimated useful lives of depreciable assets, asset retirement obligations, the carrying amount of long-lived assets under construction in process, valuation allowance on the Company&#x2019;s deferred tax assets, and recoverability of intangible assets. Moreover, in certain circumstances, requirements associated with relevant US GAAP guidance can impact the Company&#x2019;s estimates and assumptions. The Company is also required to make certain estimates with regard to the valuation of awards and forfeiture rates for its share-based award programs. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the financial statements in the applicable period. Accordingly, actual results could materially differ from those estimates. </font> </p> <p><font size="1"> </font></p> </div> </div>

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