$AXDX
Accelerate Diagnostics, Inc

2019 Q4 Form 10-Q Financial Statement

#000162828019013835 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $3.470M $2.271M $1.355M
YoY Change 90.45% 67.6% 63.65%
Cost Of Revenue $1.960M $1.117M $680.0K
YoY Change 50.77% 64.26% 256.02%
Gross Profit $1.513M $1.154M $675.0K
YoY Change 188.74% 70.96% 5.97%
Gross Profit Margin 43.6% 50.81% 49.82%
Selling, General & Admin $13.58M $12.74M $12.15M
YoY Change 1.49% 4.85% 4.77%
% of Gross Profit 897.55% 1104.25% 1800.44%
Research & Development $6.200M $6.064M $7.891M
YoY Change -10.14% -23.15% 24.25%
% of Gross Profit 409.78% 525.48% 1169.04%
Depreciation & Amortization $740.0K $600.0K $700.0K
YoY Change -10.84% -14.29% 27.27%
% of Gross Profit 48.91% 51.99% 103.7%
Operating Expenses $19.78M $18.81M $20.04M
YoY Change -2.47% -6.17% 215.6%
Operating Profit -$18.27M -$17.65M -$19.37M
YoY Change -7.54% -8.86% 11.86%
Interest Expense -$3.170M $3.598M $3.357M
YoY Change 19.62% 7.18%
% of Operating Profit
Other Income/Expense, Net $0.00 -$3.020M -$2.582M
YoY Change 16.96% -1005.96%
Pretax Income -$21.45M -$20.67M -$21.95M
YoY Change -4.28% -5.82% 28.9%
Income Tax -$110.0K -$239.0K $147.0K
% Of Pretax Income
Net Earnings -$21.34M -$20.43M -$22.10M
YoY Change -3.86% -7.53% 29.42%
Net Earnings / Revenue -614.84% -899.78% -1630.85%
Basic Earnings Per Share
Diluted Earnings Per Share -$390.4K -$374.5K -$408.1K
COMMON SHARES
Basic Shares Outstanding 54.64M shares 54.55M shares 54.15M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.5M $121.9M $180.6M
YoY Change -34.83% -32.5% 48.89%
Cash & Equivalents $61.01M $92.94M $61.62M
Short-Term Investments $47.40M $29.00M $119.0M
Other Short-Term Assets $1.165M $793.0K $494.0K
YoY Change 102.26% 60.53% 7.39%
Inventory $8.059M $7.881M $9.406M
Prepaid Expenses $955.0K $1.163M
Receivables $3.200M $2.600M $1.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $121.9M $134.4M $192.9M
YoY Change -31.41% -30.32% 46.93%
LONG-TERM ASSETS
Property, Plant & Equipment $7.905M $8.566M $7.412M
YoY Change 8.24% 15.57% 58.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $750.0K $483.0K $241.0K
YoY Change 132.92% 100.41%
Total Long-Term Assets $12.57M $12.88M $7.772M
YoY Change 64.88% 65.76% 61.01%
TOTAL ASSETS
Total Short-Term Assets $121.9M $134.4M $192.9M
Total Long-Term Assets $12.57M $12.88M $7.772M
Total Assets $134.4M $147.3M $200.7M
YoY Change -27.44% -26.6% 47.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.351M $2.281M $1.559M
YoY Change 77.84% 46.31% 13.88%
Accrued Expenses $3.828M $2.985M $3.700M
YoY Change -22.85% -19.32% 0.0%
Deferred Revenue $271.0K $250.0K $202.0K
YoY Change 24.88% 23.76%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $8.162M $6.128M $5.470M
YoY Change 5.14% 12.03% -11.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $127.4M $117.8M
YoY Change -100.0% 8.15%
Other Long-Term Liabilities $19.00K $28.00K $26.00K
YoY Change -64.15% 7.69%
Total Long-Term Liabilities $19.00K $28.00K $26.00K
YoY Change -64.15% 7.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.162M $6.128M $5.470M
Total Long-Term Liabilities $19.00K $28.00K $26.00K
Total Liabilities $141.8M $137.1M $123.3M
YoY Change 10.88% 11.2% 1893.37%
SHAREHOLDERS EQUITY
Retained Earnings -$414.7M -$393.3M -$308.2M
YoY Change 25.52% 27.64% 36.55%
Common Stock $452.3M $448.6M $430.7M
YoY Change 4.5% 4.15% 21.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $45.07M $45.07M $45.07M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$7.379M $10.22M $77.41M
YoY Change
Total Liabilities & Shareholders Equity $134.4M $147.3M $200.7M
YoY Change -27.44% -26.6% 47.43%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$21.34M -$20.43M -$22.10M
YoY Change -3.86% -7.53% 29.42%
Depreciation, Depletion And Amortization $740.0K $600.0K $700.0K
YoY Change -10.84% -14.29% 27.27%
Cash From Operating Activities -$13.86M -$17.37M -$18.01M
YoY Change -3.28% -3.55% 24.98%
INVESTING ACTIVITIES
Capital Expenditures -$180.0K -$70.00K -$140.0K
YoY Change 12.5% -50.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities -$18.47M $21.36M $11.86M
YoY Change -197.21% 80.1% -181.91%
Cash From Investing Activities -$18.65M $21.29M $11.72M
YoY Change -198.99% 81.66% -178.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 580.0K 1.620M 1.130M
YoY Change 241.18% 43.36% 9.71%
NET CHANGE
Cash From Operating Activities -13.86M -17.37M -18.01M
Cash From Investing Activities -18.65M 21.29M 11.72M
Cash From Financing Activities 580.0K 1.620M 1.130M
Net Change In Cash -31.93M 5.540M -5.160M
YoY Change -782.26% -207.36% -81.75%
FREE CASH FLOW
Cash From Operating Activities -$13.86M -$17.37M -$18.01M
Capital Expenditures -$180.0K -$70.00K -$140.0K
Free Cash Flow -$13.68M -$17.30M -$17.87M
YoY Change -3.46% -3.19% 27.73%

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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Net Income Loss
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-62970000 USD
us-gaap Net Income Loss
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us-gaap Depreciation
Depreciation
1862000 USD
us-gaap Depreciation
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us-gaap Investment Income Net Amortization Of Discount And Premium
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us-gaap Share Based Compensation
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Increase Decrease In Inventories
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5206000 USD
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319000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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212000 USD
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Interest Payable Net
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191000 USD
us-gaap Increase Decrease In Contract With Customer Liability
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33000 USD
us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Deferred Compensation
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5000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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axdx Proceedsfrom Stock Optionsand Warrants Exercised
ProceedsfromStockOptionsandWarrantsExercised
4879000 USD
axdx Proceedsfrom Stock Optionsand Warrants Exercised
ProceedsfromStockOptionsandWarrantsExercised
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us-gaap Proceeds From Convertible Debt
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us-gaap Proceeds From Convertible Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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6242000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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125596000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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33109000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66260000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28513000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92938000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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axdx Inventory Transferredto Fixed Assets
InventoryTransferredtoFixedAssets
3225000 USD
axdx Inventory Transferredto Fixed Assets
InventoryTransferredtoFixedAssets
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
2001000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
435000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
10220000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
77406000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
10220000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
77406000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Use of Estimates</span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The preparation of the Company’s condensed consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to accounts receivable, inventory, property and equipment, accrued liabilities, warranty liabilities, tax valuation accounts and equity–based compensation. Actual results could differ materially from those estimates.</span></div>
axdx Standard Product Warranty Instruments Term
StandardProductWarrantyInstrumentsTerm
P1Y
axdx Standard Product Warranty Kits And Accessories Term
StandardProductWarrantyKitsAndAccessoriesTerm
P60D
CY2019Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
196000 USD
CY2018Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
199000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
215000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
192000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
77000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
128000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
147000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
394000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
51000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
138000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
140000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
397000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
222000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
189000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
222000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
189000 USD
CY2019Q3 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q1 axdx Over Allotment Option Term
OverAllotmentOptionTerm
P13D
CY2018Q1 axdx Over Allotment Option Amount
OverAllotmentOptionAmount
22500000 USD
CY2018Q2 axdx Proceedsfrom Over Allotment Option
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21500000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
28920000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
59000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28978000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
173000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
100218000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
28920000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
28978000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
83030000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
82893000 USD
CY2019Q3 axdx Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter One Through Three Years Amortized Cost
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterOneThroughThreeYearsAmortizedCost
0 USD
CY2019Q3 axdx Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter One Through Three Years Fair Value
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterOneThroughThreeYearsFairValue
0 USD
CY2018Q4 axdx Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter One Through Three Years Amortized Cost
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterOneThroughThreeYearsAmortizedCost
17359000 USD
CY2018Q4 axdx Debt Securities Availableforsale Maturity Allocatedand Single Maturity Dateafter One Through Three Years Fair Value
DebtSecuritiesAvailableforsaleMaturityAllocatedandSingleMaturityDateafterOneThroughThreeYearsFairValue
17325000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
28920000 USD
CY2019Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28978000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
100389000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
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100218000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
13400000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
3000000.0 USD
CY2019Q3 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
0 USD
CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5088000 USD
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4064000 USD
CY2019Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1604000 USD
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
495000 USD
CY2019Q3 us-gaap Inventory Finished Goods Net Of Reserves
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1189000 USD
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2019Q3 us-gaap Inventory Net
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CY2018Q4 us-gaap Inventory Net
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CY2019Q3 us-gaap Property Plant And Equipment Gross
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CY2018Q4 us-gaap Property Plant And Equipment Gross
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10078000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000 USD
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
700000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1700000 USD
axdx License Agreement
LicenseAgreement
<div style="line-height:120%;padding-bottom:0px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;">NOTE 8. LICENSE AGREEMENTS AND GRANTS</span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">National Institute of Health Grant</span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In February 2015, the National Institute of Health awarded Denver Health and the Company a </span><span style="font-family:Arial;font-size:10pt;">five</span><span style="font-family:Arial;font-size:10pt;">-year, </span><span style="font-family:Arial;font-size:10pt;"><span>$5.0 million</span></span><span style="font-family:Arial;font-size:10pt;"> grant to develop a fast and reliable identification and categorical susceptibility test for carbepenem-resistant Enterobacteriaceae directly from whole blood. The grant is paid to the Company incrementally through sub-awards. The cumulative amount awarded to date under these subawards is </span><span style="font-family:Arial;font-size:10pt;"><span>$1.3 million</span></span><span style="font-family:Arial;font-size:10pt;">. The amount invoiced for the </span><span style="font-family:Arial;font-size:10pt;">three months ended</span><span style="font-family:Arial;font-size:10pt;"> </span><span style="font-family:Arial;font-size:10pt;">September 30, 2019</span><span style="font-family:Arial;font-size:10pt;"> and </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> was </span><span style="font-family:Arial;font-size:10pt;"><span>$42,000</span></span><span style="font-family:Arial;font-size:10pt;"> and </span><span style="font-family:Arial;font-size:10pt;"><span>$69,000</span></span><span style="font-family:Arial;font-size:10pt;">, respectively, and for each of the </span><span style="font-family:Arial;font-size:10pt;color:#000000;">nine months ended</span><span style="font-family:Arial;font-size:10pt;"> </span><span style="font-family:Arial;font-size:10pt;">September 30, 2019</span><span style="font-family:Arial;font-size:10pt;"> and </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> was </span><span style="font-family:Arial;font-size:10pt;"><span>$0.2 million</span></span><span style="font-family:Arial;font-size:10pt;">.</span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Arizona Commerce Authority</span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">In August 2012, the Company entered into a Grant Agreement (the “Grant Agreement”) with the Arizona Commerce Authority, an agency of the State of Arizona (the “Authority”), pursuant to which the Authority provided certain state and county sponsored incentives for the Company relocating its corporate headquarters to, and expanding its business within, the State of Arizona. Pursuant to the Grant Agreement, the Authority provided a total grant in the amount of </span><span style="font-family:Arial;font-size:10pt;"><span>$1.0 million</span></span><span style="font-family:Arial;font-size:10pt;">, which was recognized in January 2018 as an offset to expense after the achievement of all grant requirements.</span></div>
CY2019Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000 USD
CY2018Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
30000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
65000 USD
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2500000 USD
CY2018Q1 axdx Over Allotment Option Term
OverAllotmentOptionTerm
P13D
CY2018Q1 axdx Over Allotment Option Amount
OverAllotmentOptionAmount
22500000 USD
CY2018Q2 axdx Proceedsfrom Over Allotment Option
ProceedsfromOverAllotmentOption
21500000 USD
CY2018Q2 us-gaap Debt Instrument Convertible Threshold Percentage Of Stock Price Trigger
DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger
1.30
CY2018Q2 us-gaap Debt Instrument Convertible Threshold Consecutive Trading Days1
DebtInstrumentConvertibleThresholdConsecutiveTradingDays1
20 day
CY2018Q2 us-gaap Debt Instrument Convertible Threshold Trading Days
DebtInstrumentConvertibleThresholdTradingDays
30 day
CY2018Q2 axdx Debt Instrument Convertible Threshold Percentageof Notes Trading Price Trigger
DebtInstrumentConvertibleThresholdPercentageofNotesTradingPriceTrigger
0.98
CY2018Q2 axdx Debt Instrument Principle Repurchase Percent
DebtInstrumentPrincipleRepurchasePercent
1
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
171500000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
171500000 USD
CY2019Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
41490000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
48430000 USD
CY2019Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
2566000 USD
CY2018Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
2996000 USD
CY2019Q3 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
127444000 USD
CY2018Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
120074000 USD
CY2019Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1100000 USD
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
3200000 USD
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
2200000 USD
CY2019Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
100000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
400000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
300000 USD
CY2019Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2400000 USD
CY2018Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2100000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
6900000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
4300000 USD
CY2018Q2 axdx Debt Proceeds Usedto Fund Embedded Derivative
DebtProceedsUsedtoFundEmbeddedDerivative
45100000 USD
CY2018Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1858500 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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10179000 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8248000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10179000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8248000 shares
CY2018Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1858500 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8090636 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.22
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2883596 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.47
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
420098 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.74
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
327215 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
14.91
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
67574 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
23.41
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10159345 shares
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.34
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y5M15D
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M10D
CY2019Q3 axdx Sharebased Compensation Arrangementby Sharebased Payment Award Fair Value Assumptions Weighted Average Fair Value
SharebasedCompensationArrangementbySharebasedPaymentAwardFairValueAssumptionsWeightedAverageFairValue
9.66
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.59
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.58
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0147
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0275
CY2018Q3 axdx Sharebased Compensation Arrangementby Sharebased Payment Award Fair Value Assumptions Weighted Average Fair Value
SharebasedCompensationArrangementbySharebasedPaymentAwardFairValueAssumptionsWeightedAverageFairValue
11.48
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10159345 shares
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6137856 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M20D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y3M25D
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.34
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.03
CY2019Q3 axdx Sharebased Compensation Arrangementby Sharebased Payment Award Options Outstanding Weighted Average Fair Value
SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsOutstandingWeightedAverageFairValue
8.01
CY2019Q3 axdx Sharebased Compensation Arrangementby Sharebased Payment Award Options Exercisable Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
6.06
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
76923000 USD
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
65271000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3131000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3465000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9409000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12476000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
27100000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3639000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
213000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
378000 USD
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
103000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
697000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-20700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-63000000.0 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
168000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
333000 USD
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3639000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.071
CY2018Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
300000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000.0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
180000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
637000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
687000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
818000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
913000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1583000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4818000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
939000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3879000 USD
CY2019Q3 us-gaap Net Investment In Lease
NetInvestmentInLease
600000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
62000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
197000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
139000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
106000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
53000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
13000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
570000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Undiscounted Excess Amount
SalesTypeAndDirectFinancingLeasesLeaseReceivableUndiscountedExcessAmount
3000 USD
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
567000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2271000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1355000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5827000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3848000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2271000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1355000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5827000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3848000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2271000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1355000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5827000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3848000 USD
CY2019Q3 us-gaap Lease Income
LeaseIncome
200000 USD
us-gaap Lease Income
LeaseIncome
600000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
400000 USD
CY2019Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
17.99
CY2019Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1000000.0 USD

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