2018 Q4 Form 10-K Financial Statement

#000162828020002502 Filed on February 28, 2020

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $1.822M $1.355M $1.692M
YoY Change -14.06% 63.65% 142.06%
Cost Of Revenue $1.300M $680.0K $717.0K
YoY Change 100.0% 256.02% 431.11%
Gross Profit $524.0K $675.0K $975.0K
YoY Change -64.35% 5.97% 72.87%
Gross Profit Margin 28.76% 49.82% 57.62%
Selling, General & Admin $13.38M $12.15M $15.33M
YoY Change 16.65% 4.77% 33.77%
% of Gross Profit 2553.44% 1800.44% 1572.31%
Research & Development $6.900M $7.891M $6.060M
YoY Change 12.38% 24.25% 9.64%
% of Gross Profit 1316.79% 1169.04% 621.54%
Depreciation & Amortization $830.0K $700.0K $500.0K
YoY Change 43.1% 27.27% -7.41%
% of Gross Profit 158.4% 103.7% 51.28%
Operating Expenses $20.28M $20.04M $21.39M
YoY Change 15.23% 215.6% 287.01%
Operating Profit -$19.76M -$19.37M -$20.42M
YoY Change 22.45% 11.86% 24.31%
Interest Expense -$2.650M $3.357M $3.205M
YoY Change -1013.79%
% of Operating Profit
Other Income/Expense, Net $0.00 -$2.582M -$2.709M
YoY Change -100.0% -1005.96% -2021.28%
Pretax Income -$22.41M -$21.95M -$23.12M
YoY Change 39.89% 28.9% 42.02%
Income Tax -$220.0K $147.0K $101.0K
% Of Pretax Income
Net Earnings -$22.19M -$22.10M -$23.23M
YoY Change 36.17% 29.42% 41.13%
Net Earnings / Revenue -1217.95% -1630.85% -1372.64%
Basic Earnings Per Share
Diluted Earnings Per Share -$409.4K -$408.1K -$430.2K
COMMON SHARES
Basic Shares Outstanding 54.20M shares 54.15M shares 54.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $166.5M $180.6M $197.4M
YoY Change 52.47% 48.89% 46.01%
Cash & Equivalents $66.26M $61.62M $66.81M
Short-Term Investments $100.2M $119.0M $130.6M
Other Short-Term Assets $576.0K $494.0K $643.0K
YoY Change 23.08% 7.39% 29.64%
Inventory $7.746M $9.406M $11.32M
Prepaid Expenses $980.0K
Receivables $1.900M $1.400M $1.800M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $177.6M $192.9M $212.6M
YoY Change 47.43% 46.93% 48.39%
LONG-TERM ASSETS
Property, Plant & Equipment $7.303M $7.412M $5.443M
YoY Change 49.35% 58.04% 12.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $322.0K $241.0K $78.00K
YoY Change
Total Long-Term Assets $7.625M $7.772M $5.645M
YoY Change 51.77% 61.01% 13.26%
TOTAL ASSETS
Total Short-Term Assets $177.6M $192.9M $212.6M
Total Long-Term Assets $7.625M $7.772M $5.645M
Total Assets $185.3M $200.7M $218.3M
YoY Change 47.61% 47.43% 47.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.322M $1.559M $2.355M
YoY Change -36.44% 13.88% 53.52%
Accrued Expenses $4.962M $3.700M $5.300M
YoY Change 36.47% 0.0% 47.22%
Deferred Revenue $217.0K $202.0K
YoY Change -79.74%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.763M $5.470M $7.842M
YoY Change 14.38% -11.53% 26.02%
LONG-TERM LIABILITIES
Long-Term Debt $120.1M $117.8M $115.5M
YoY Change
Other Long-Term Liabilities $53.00K $26.00K $26.00K
YoY Change 152.38%
Total Long-Term Liabilities $53.00K $26.00K $26.00K
YoY Change 152.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.763M $5.470M $7.842M
Total Long-Term Liabilities $53.00K $26.00K $26.00K
Total Liabilities $127.9M $123.3M $123.4M
YoY Change 1778.53% 1893.37% 1882.44%
SHAREHOLDERS EQUITY
Retained Earnings -$330.3M -$308.2M -$286.1M
YoY Change 36.52% 36.55% 37.13%
Common Stock $432.9M $430.7M $426.1M
YoY Change 20.04% 21.18% 21.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $45.07M $45.07M $45.07M
YoY Change
Treasury Stock Shares
Shareholders Equity $57.38M $77.41M $94.89M
YoY Change
Total Liabilities & Shareholders Equity $185.3M $200.7M $218.3M
YoY Change 47.61% 47.43% 47.21%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$22.19M -$22.10M -$23.23M
YoY Change 36.17% 29.42% 41.13%
Depreciation, Depletion And Amortization $830.0K $700.0K $500.0K
YoY Change 43.1% 27.27% -7.41%
Cash From Operating Activities -$14.33M -$18.01M -$19.35M
YoY Change 8.15% 24.98% 53.33%
INVESTING ACTIVITIES
Capital Expenditures -$160.0K -$140.0K $590.0K
YoY Change -82.42% -66.67% -141.84%
Acquisitions
YoY Change
Other Investing Activities $19.00M $11.86M -$63.77M
YoY Change 211.99% -181.91% 241.93%
Cash From Investing Activities $18.84M $11.72M -$63.18M
YoY Change 263.71% -178.66% 214.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.0K 1.130M 22.62M
YoY Change -92.02% 9.71% -73.46%
NET CHANGE
Cash From Operating Activities -14.33M -18.01M -19.35M
Cash From Investing Activities 18.84M 11.72M -63.18M
Cash From Financing Activities 170.0K 1.130M 22.62M
Net Change In Cash 4.680M -5.160M -59.91M
YoY Change -178.79% -81.75% -213.98%
FREE CASH FLOW
Cash From Operating Activities -$14.33M -$18.01M -$19.35M
Capital Expenditures -$160.0K -$140.0K $590.0K
Free Cash Flow -$14.17M -$17.87M -$19.94M
YoY Change 14.83% 27.73% 77.88%

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NetIncomeLoss
-84305000 USD
CY2019 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000000 USD
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5365000 USD
CY2019 us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
458000 USD
CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
193000 USD
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-102000 USD
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12637000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-7379000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-84305000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
-88326000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-64028000 USD
CY2019 us-gaap Depreciation
Depreciation
2602000 USD
CY2018 us-gaap Depreciation
Depreciation
2561000 USD
CY2017 us-gaap Depreciation
Depreciation
2196000 USD
CY2019 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
427000 USD
CY2018 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
621000 USD
CY2017 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-326000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
12618000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
14422000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
13933000 USD
CY2019 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
9969000 USD
CY2018 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6849000 USD
CY2017 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
0 USD
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-837000 USD
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-678000 USD
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-240000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1362000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-86000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1912000 USD
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3655000 USD
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4223000 USD
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7759000 USD
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
752000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
250000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
459000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
988000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-748000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1064000 USD
CY2019 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0 USD
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1327000 USD
CY2018 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1426000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
596000 USD
CY2018 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1262000 USD
CY2017 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0 USD
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
54000 USD
CY2018 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-904000 USD
CY2017 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
36000 USD
CY2019 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-34000 USD
CY2018 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
32000 USD
CY2017 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
21000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-64794000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-67756000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-55746000 USD
CY2019 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
330000 USD
CY2018 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
998000 USD
CY2017 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2966000 USD
CY2019 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
50226000 USD
CY2018 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
120556000 USD
CY2017 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
82333000 USD
CY2019 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
14500000 USD
CY2018 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
3000000 USD
CY2017 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
11522000 USD
CY2019 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
88867000 USD
CY2018 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
98416000 USD
CY2017 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
48049000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
52811000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20138000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25728000 USD
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1458000 USD
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
583000 USD
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
83821000 USD
CY2019 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
5365000 USD
CY2018 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
3749000 USD
CY2017 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
6606000 USD
CY2019 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2018 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
171500000 USD
CY2017 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
45069000 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4992000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6823000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
125771000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
90427000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-86000 USD
CY2019 axdx Inventory Transferredto Fixed Assets
InventoryTransferredtoFixedAssets
3361000 USD
CY2018 axdx Inventory Transferredto Fixed Assets
InventoryTransferredtoFixedAssets
4767000 USD
CY2017 axdx Inventory Transferredto Fixed Assets
InventoryTransferredtoFixedAssets
0 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
4288000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
2001000 USD
CY2017 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66260000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28513000 USD
CY2018 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-130000 USD
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
316000 USD
CY2019 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5246000 USD
CY2018 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
37747000 USD
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
9269000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66260000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28513000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19244000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61014000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
41000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
651000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2018 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
397000 USD
CY2017 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
140000 USD
CY2019Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
403000 USD
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassification</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;">Certain prior year amounts have been reclassified for consistency with the current year presentation and had no effect on our net income, stockholders’ equity (deficit) or cash flows.</span></div>
CY2019 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:0px;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">The preparation of the Company’s 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 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, intangible assets, accrued liabilities, warranty liabilities, tax valuation accounts and equity–based compensation. Actual results could differ materially from those estimates.</span></div>
CY2019 axdx Standard Product Warranty Instruments Term
StandardProductWarrantyInstrumentsTerm
P1Y
CY2019 axdx Standard Product Warranty Kits And Accessories Term
StandardProductWarrantyKitsAndAccessoriesTerm
P60D
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
215000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
192000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1000 USD
CY2019 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
411000 USD
CY2018 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
420000 USD
CY2017 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
331000 USD
CY2019 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
223000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
215000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
192000 USD
CY2019Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P5Y
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments and accounts receivable, including receivables from major customers.</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>The Company grants credit to domestic and international clients in various industries. Exposure to losses on accounts receivable is principally dependent on each client's financial position.
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
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
47415000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
39000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
17000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
47437000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
100389000 USD
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
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
43627000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
43650000 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
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
3788000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
3787000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
17359000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
17325000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
47415000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
47437000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
100389000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
100218000 USD
CY2019 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
14500000 USD
CY2018 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
3000000.0 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4854000 USD
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4064000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1561000 USD
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
495000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1644000 USD
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3187000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
8059000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9865000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8711000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7905000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7303000 USD
CY2018Q4 us-gaap Inventory Net
InventoryNet
7746000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17770000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16014000 USD
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2300000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2500000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2200000 USD
CY2018 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
1900000 USD
CY2019 axdx License Agreement
LicenseAgreement
<div style="line-height:120%;padding-bottom:0px;text-align:justify;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;">NOTE 9. 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 carbapenem-resistant Enterobacteriaceae directly from whole blood. The cumulative award amount 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 amounts invoiced for the years ended </span><span style="font-family:Arial;font-size:10pt;">December 31, 2019</span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> and </span><span style="font-family:Arial;font-size:10pt;">2017</span><span style="font-family:Arial;font-size:10pt;"> was </span><span style="font-family:Arial;font-size:10pt;"><span>$0.3 million</span></span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;"><span>$0.2 million</span></span><span style="font-family:Arial;font-size:10pt;"> and </span><span style="font-family:Arial;font-size:10pt;"><span>$0.2 million</span></span><span style="font-family:Arial;font-size:10pt;">, respectively.</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 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 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 to relocate its corporate headquarters to, and expand its business within, the State of Arizona (the “Project”). Pursuant to the Grant Agreement, the Authority agreed to provide 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;"> (the “Grant”) for the use by the Company in the advancement of the Project. The Grant is payable out of an escrow account in </span><span style="font-family:Arial;font-size:10pt;"><span>four</span></span><span style="font-family:Arial;font-size:10pt;"> installments, upon the achievement of the following milestones:</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><table cellpadding="0" cellspacing="0" style="padding-bottom:0px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:Arial;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Milestone 1 – Relocation of Company’s operations and corporate headquarters to Arizona and creation of </span><span style="font-family:Arial;font-size:10pt;"><span>15</span></span><span style="font-family:Arial;font-size:10pt;"> Qualified Jobs (as defined below).</span></div></td></tr></table><div style="line-height:120%;padding-bottom:0px;text-align:justify;padding-left:72px;text-indent:-24px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="padding-bottom:0px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:Arial;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Milestone 2 – Creation of </span><span style="font-family:Arial;font-size:10pt;"><span>30</span></span><span style="font-family:Arial;font-size:10pt;"> Qualified Jobs (including Qualified Jobs under Milestone 1).</span></div></td></tr></table><div style="line-height:120%;padding-bottom:0px;text-align:justify;padding-left:72px;text-indent:-24px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="padding-bottom:0px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:Arial;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Milestone 3 – Creation of </span><span style="font-family:Arial;font-size:10pt;"><span>40</span></span><span style="font-family:Arial;font-size:10pt;"> Qualified Jobs (including Qualified Jobs under Milestones 1 and 2).</span></div></td></tr></table><div style="line-height:120%;padding-bottom:0px;text-align:justify;padding-left:72px;text-indent:-24px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="padding-bottom:0px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:Arial;font-size:10pt;">•</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Milestone 4 – Creation of </span><span style="font-family:Arial;font-size:10pt;"><span>65</span></span><span style="font-family:Arial;font-size:10pt;"> Qualified Jobs (including Qualified Jobs under Milestones 1, 2 and 3) and capital investment of at least </span><span style="font-family:Arial;font-size:10pt;"><span>$4.5 million</span></span><span style="font-family:Arial;font-size:10pt;">.</span></div></td></tr></table><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;">For purposes of the Grant Agreement, a “Qualified Job” is a job that is permanent, full-time, new to Arizona, and for which the Company pays average (across all Qualified Jobs identified by the Company in its discretion) annual wages of at least </span><span style="font-family:Arial;font-size:10pt;"><span>$63,000</span></span><span style="font-family:Arial;font-size:10pt;"> and offers health insurance benefits and pays at least </span><span style="font-family:Arial;font-size:10pt;"><span>65%</span></span><span style="font-family:Arial;font-size:10pt;"> of the premiums associated with such benefits. The amount of each installment payment will be determined in accordance with a formula specified in the Grant Agreement. The Grant Agreement also contains other customary provisions, including representations, warranties and covenants of both parties. As of </span><span style="font-family:Arial;font-size:10pt;">December 31, 2017</span><span style="font-family:Arial;font-size:10pt;">, the full amount was collected and recorded in current deferred revenue and income.</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 </span><span style="font-family:Arial;font-size:10pt;">January 2018</span><span style="font-family:Arial;font-size:10pt;">, the full amount was recognized due to the economic development provisions of the grant being satisfied in full, with the “claw-back” provisions expiring. The </span><span style="font-family:Arial;font-size:10pt;"><span>$1.0 million</span></span><span style="font-family:Arial;font-size:10pt;"> was recognized as an offset to expense.</span></div>
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