$ECOR
electroCore, Inc.

2019 Q1 Form 10-K Financial Statement

#000156459019009725 Filed on March 28, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q3
Revenue $409.6K $368.0K $151.0K
YoY Change 404.52% 57.26% -46.65%
Cost Of Revenue $157.8K $190.0K $100.0K
YoY Change 222.36% -32.14% -22.07%
Gross Profit $251.8K $180.0K $53.91K
YoY Change 681.07% -550.0% -65.2%
Gross Profit Margin 61.48% 48.91% 35.71%
Selling, General & Admin $11.00M $12.40M $11.27M
YoY Change 61.22% 107.01% 164.59%
% of Gross Profit 4369.56% 6888.89% 20911.85%
Research & Development $3.460M $3.460M $2.333M
YoY Change 50.01% 138.62% 24.11%
% of Gross Profit 1373.98% 1922.22% 4328.46%
Depreciation & Amortization $25.52K $30.00K $20.66K
YoY Change 253.88% 200.0% 162.59%
% of Gross Profit 10.14% 16.67% 38.33%
Operating Expenses $14.46M $15.86M $13.61M
YoY Change 58.39% 113.1% 121.49%
Operating Profit -$14.21M -$15.68M -$13.55M
YoY Change 56.18% 109.5% 126.32%
Interest Expense $370.0K $430.0K $360.0K
YoY Change 236.36% 437.5% -80.24%
% of Operating Profit
Other Income/Expense, Net $349.5K -$80.00K $350.4K
YoY Change -201.41% -104.79% -105.5%
Pretax Income -$13.86M -$15.34M -$13.20M
YoY Change 46.78% 167.25% 6.79%
Income Tax $0.00 $0.00 $2.431K
% Of Pretax Income
Net Earnings -$13.86M -$15.34M -$13.20M
YoY Change 45.93% 178.31% 6.81%
Net Earnings / Revenue -3384.15% -4167.12% -8745.95%
Basic Earnings Per Share
Diluted Earnings Per Share -$472.7K -$524.3K -$451.1K
COMMON SHARES
Basic Shares Outstanding 29.45M 29.45M 29.45M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.37M $68.56M $80.50M
YoY Change 96.13% 84.44%
Cash & Equivalents $6.954M $7.600M $26.26M
Short-Term Investments $45.41M $60.96M $54.20M
Other Short-Term Assets $1.000M $1.900M $3.100M
YoY Change -72.22%
Inventory $3.600M $1.949M $1.124M
Prepaid Expenses
Receivables $300.0K $267.6K $227.3K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $57.24M $72.70M $84.96M
YoY Change 85.24% 86.25%
LONG-TERM ASSETS
Property, Plant & Equipment $392.0K $380.9K $405.8K
YoY Change 30.68% 125.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $984.0K $424.9K $100.0K
YoY Change 1288.37%
Total Long-Term Assets $5.261M $805.8K $465.9K
YoY Change 1215.29% 304.42%
TOTAL ASSETS
Total Short-Term Assets $57.24M $72.70M $84.96M
Total Long-Term Assets $5.261M $805.8K $465.9K
Total Assets $62.50M $73.50M $85.42M
YoY Change 99.68% 87.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.860M $2.699M $1.439M
YoY Change -15.47% 221.15%
Accrued Expenses $3.256M $4.374M $3.300M
YoY Change 16.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.300M $7.073M $4.767M
YoY Change -29.33% 15.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.000M $200.0K $300.0K
YoY Change 1233.33%
Total Long-Term Liabilities $4.000M $200.0K $300.0K
YoY Change 1233.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.300M $7.073M $4.767M
Total Long-Term Liabilities $4.000M $200.0K $300.0K
Total Liabilities $10.00M $7.319M $5.030M
YoY Change 19.05% 13.89%
SHAREHOLDERS EQUITY
Retained Earnings -$38.33M -$23.00M
YoY Change -74.94%
Common Stock $103.8M $102.7M
YoY Change 359.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.53M $65.55M $79.76M
YoY Change
Total Liabilities & Shareholders Equity $62.50M $73.50M $85.42M
YoY Change 99.68% 87.35%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$13.86M -$15.34M -$13.20M
YoY Change 45.93% 178.31% 6.81%
Depreciation, Depletion And Amortization $25.52K $30.00K $20.66K
YoY Change 253.88% 200.0% 162.59%
Cash From Operating Activities -$16.40M -$12.18M -$13.96M
YoY Change 69.47% 51.68% 112.16%
INVESTING ACTIVITIES
Capital Expenditures $37.32K $0.00 -$50.00K
YoY Change -74.26% -100.0% 150.0%
Acquisitions
YoY Change
Other Investing Activities $15.79M -$6.470M -$46.56M
YoY Change -1373.39% -52.98% 356.02%
Cash From Investing Activities $15.75M -$6.470M -$46.61M
YoY Change -1235.91% -53.22% 355.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -50.00K -1.520M
YoY Change -100.0% -100.19% -108.56%
NET CHANGE
Cash From Operating Activities -16.40M -12.18M -13.96M
Cash From Investing Activities 15.75M -6.470M -46.61M
Cash From Financing Activities 0.000 -50.00K -1.520M
Net Change In Cash -646.5K -18.70M -62.09M
YoY Change -94.42% -575.83% -6635.79%
FREE CASH FLOW
Cash From Operating Activities -$16.40M -$12.18M -$13.96M
Capital Expenditures $37.32K $0.00 -$50.00K
Free Cash Flow -$16.44M -$12.18M -$13.91M
YoY Change 67.35% 53.02% 112.04%

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CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-36827827
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2018 us-gaap Proceeds From Issuance Of Common Stock
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CY2017 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
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CY2017 us-gaap Payments Of Stock Issuance Costs
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CY2017 us-gaap Proceeds From Convertible Debt
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CY2017 us-gaap Payments Of Debt Issuance Costs
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CY2017 us-gaap Payments Of Financing Costs
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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62488402
CY2018 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-20191
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-231243
CY2018 us-gaap Cash And Cash Equivalents Period Increase Decrease
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-5623910
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
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12807858
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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416336
CY2018 ecor Reclassification Of Warrant Liability To Additional Paid In Capital
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CY2018 ecor Reclassification Of Deferred Financing Costs To Additional Paid In Capital
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856985
CY2017 ecor Deferred Financing Costs Included In Accounts Payable And Accrued Expenses
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234339
CY2018 ecor Non Cash Or Par Non Cash Stock Dividend Distribution
NonCashOrParNonCashStockDividendDistribution
3629092
CY2018 ecor Capitalized Cloud Computing Arrangement Costs Included In Accounts Payable And Accrued Expenses
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287650
CY2017 us-gaap Debt Conversion Converted Instrument Amount1
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26718910
CY2017 ecor Warrants Issued In Connection With Convertible Bridge Notes
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2620681
CY2017 us-gaap Stock Issued1
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5194081
CY2017 ecor Deferred Accrued Financing Costs
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458901
CY2017 us-gaap Interest Paid Net
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373
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">(b) Use of Estimates</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S.&#160;generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the useful lives of fixed assets; allowances for doubtful accounts and sales returns; valuation of inventory, property and equipment, warrants and derivative instruments, stock compensation, and contingencies.</p>
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q4 ecor Erp Implementation Cost
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395000
CY2018 us-gaap Concentration Risk Credit Risk
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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">(e) Concentration of Credit Risk </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash, cash equivalents and investments are financial instruments that potentially subject the Company to concentration of credit risk. The Company periodically invests its cash in corporate debt securities, U.S. bonds, U.S. sponsored agencies and municipal bonds with strong credit ratings. The Company has established guidelines relative to diversification and maturities that are designed to help ensure safety and liquidity. These guidelines are periodically reviewed to take advantage of trends in yields and interest rates. </p>
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-494714
CY2018 ecor Recent Accounting Pronouncements Not Yet Adopted
RecentAccountingPronouncementsNotYetAdopted
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">(t) Recent Accounting Pronouncements Not Yet Adopted</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. The Company has two leases for office, manufacturing and warehouse space.&nbsp;&nbsp;One lease expires in 2022 and the other in 2024.&nbsp;&nbsp;Each of the leases has a renewal option for an additional five years.&nbsp;&nbsp;The Company leases office equipment.&nbsp;&nbsp;This lease expires in 2022.&nbsp;&nbsp;The Company has elected the practical expedient to not recognize short term leases as assets but to expense its cost monthly.&nbsp;&nbsp;The Company has determined that it will capitalize approximately $4.4 million of right of use assets on January 1, 2019 and also recognize a lease liability of approximately $4.3 million. These assets and liabilities will be recognized over the applicable lease term.&nbsp;&nbsp;</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a material impact on the financial statements.</p>
CY2018 ecor Number Of Leases
NumberOfLeases
2
CY2018 ecor Lease Renewal Option Period
LeaseRenewalOptionPeriod
P5Y
CY2018 dei Entity Information Date To Change Former Legal Or Registered Name
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2018-06-21
CY2018 dei Entity Information Former Legal Or Registered Name
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Electrocore, LLC
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1273249
CY2017Q4 us-gaap Accrued Professional Fees Current
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2231939
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148120
CY2018Q4 ecor Working Capital
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CY2017Q4 ecor Working Capital
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32900000
CY2018 ecor Number Of Specialty Pharmaceutical Distributor
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1
CY2018Q4 us-gaap Revenue Remaining Performance Obligation
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0
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P31D
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4700000
CY2018Q4 us-gaap Acquisition Costs
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1700000
CY2018 ecor Payment Term For Customers
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P31D
CY2018Q4 ecor Cash And Cash Equivalents Amortized Cost
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7600284
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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61006017
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42930
CY2018Q4 ecor Cash And Cash Equivalents And Marketable Securities Amortized Cost Basis Current
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68606301
CY2018Q4 ecor Cash And Cash Equivalents And Marketable Securities Accumulated Gross Unrealized Loss Before Tax Current
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42930
CY2018Q4 us-gaap Cash Cash Equivalents And Short Term Investments
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68563371
CY2017Q4 ecor Cash And Cash Equivalents Amortized Cost
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13224280
CY2017Q4 ecor Cash And Cash Equivalents Accumulated Gross Unrealized Loss Before Tax
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86
CY2017Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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23970781
CY2017Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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923
CY2017Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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21138
CY2017Q4 ecor Cash And Cash Equivalents And Marketable Securities Amortized Cost Basis Current
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37195061
CY2017Q4 ecor Cash And Cash Equivalents And Marketable Securities Accumulated Gross Unrealized Gains Before Tax Current
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923
CY2017Q4 ecor Cash And Cash Equivalents And Marketable Securities Accumulated Gross Unrealized Loss Before Tax Current
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21224
CY2017Q4 us-gaap Cash Cash Equivalents And Short Term Investments
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CY2018Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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7600284
CY2017Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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13224194
CY2018Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0
CY2017Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0
CY2018Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0
CY2017Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0
CY2018Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
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0
CY2017Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
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0
CY2018Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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0
CY2017Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0
CY2018Q4 us-gaap Inventory Raw Materials
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821704
CY2017Q4 us-gaap Inventory Raw Materials
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CY2018Q4 us-gaap Inventory Work In Process
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CY2017Q4 us-gaap Inventory Work In Process
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CY2018Q4 us-gaap Inventory Finished Goods
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CY2017Q4 us-gaap Inventory Finished Goods
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CY2018Q4 us-gaap Property Plant And Equipment Gross
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731197
CY2017Q4 us-gaap Property Plant And Equipment Gross
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CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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350293
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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579014
CY2018 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
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395404
CY2018Q4 us-gaap Accrued Bonuses Current
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2152264
CY2017Q4 us-gaap Accrued Bonuses Current
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659333
CY2018Q4 us-gaap Other Accrued Liabilities Current
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948588
CY2018Q2 ecor Number Of Classes Of Units Permitted For Issuance
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4
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1
CY2018Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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4374101
CY2017Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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3039392
us-gaap Net Income Loss
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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29261943
us-gaap Earnings Per Share Basic And Diluted
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CY2018Q2 us-gaap Common Stock Shares Authorized
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CY2018Q2 us-gaap Preferred Stock Shares Authorized
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CY2018Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 ecor Expected Recovery Provision For Of Income Taxes Percentage
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0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.026
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.029
CY2018 ecor Effective Income Tax Rate Reconciliation Loss Incurred As Pass Through Percentage
EffectiveIncomeTaxRateReconciliationLossIncurredAsPassThroughPercentage
-0.079
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.128
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
CY2018Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
66935
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
735910
CY2018Q4 ecor Deferred Tax Assets Patent Fees
DeferredTaxAssetsPatentFees
290098
CY2018Q4 ecor Deferred Tax Assets Loss Carry Forward And Credit
DeferredTaxAssetsLossCarryForwardAndCredit
7578570
CY2018Q4 ecor Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent And Other
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CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
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CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
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8722389
CY2018Q4 us-gaap Deferred Tax Assets Net
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25300
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
25300
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
25300
CY2018 ecor Period For Cumulative Change In Ownership
PeriodForCumulativeChangeInOwnership
P3Y
CY2018Q4 ecor Cumulative Change In Ownership Percentage
CumulativeChangeInOwnershipPercentage
0.50
CY2018 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
Net operating loss carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant shareholders over a three-year period in excess of 50 percent, as defined under Section 382 of the Internal Revenue Code, as well as similar state provisions. This could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. The amount of the annual limitation is determined based on the value of the Company immediately prior to the ownership change. The Company has not had an ownership change as a corporate entity thus has no limitations on its corporate losses. Future ownership changes may affect the use of U.S. net operating losses in future years.
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-55268310
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2431
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2431
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2018Q4 us-gaap Class Of Warrant Or Right Outstanding
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7739092
CY2018Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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12.60
CY2018 ecor Share Based Compensation Arrangement By Share Based Payment Award Award Additional Vesting Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardAdditionalVestingPeriod
P3Y
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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2141748
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
104373
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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17217
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2228904
CY2018Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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15.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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12.76
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.00
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.89
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P9Y6M
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
493067
CY2018Q4 us-gaap Purchase Obligation
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6800000
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
81000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
393000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
151000
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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368000
CY2018Q1 us-gaap Operating Expenses
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9131000
CY2018Q2 us-gaap Operating Expenses
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16374000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
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The vesting period for 228,954 of the options granted upon the IPO was on January 1, 2019; vesting period for 1,912,797 options and 14,158 options granted to employees immediately after the IPO was 25% on January 1, 2019, the remainder will vest in quarterly installment over the next succeeding 14 calendar quarters; the vesting period for 22,850 options issued to independent directors will vest one third on each of the next three succeeding dates of the Annual Stockholder’s meetings, and the vesting period for the remaining options is 25% on the anniversary of the employee’s start date and the remainder over the next succeeding 12 calendar quarters.
CY2018 ecor Share Based Compensation Promotional Expense For Free Units
ShareBasedCompensationPromotionalExpenseForFreeUnits
100000
CY2017 ecor Share Based Compensation Promotional Expense For Free Units
ShareBasedCompensationPromotionalExpenseForFreeUnits
100000
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5200000
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P3Y2M12D
CY2018Q4 us-gaap Defined Contribution Plan Sponsor Location Extensible List
DefinedContributionPlanSponsorLocationExtensibleList
country:US
CY2017Q4 us-gaap Defined Contribution Plan Sponsor Location Extensible List
DefinedContributionPlanSponsorLocationExtensibleList
country:US
CY2018 us-gaap Defined Contribution Plan Plan Name
DefinedContributionPlanPlanName
401(k)
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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0
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
13606000
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
15857000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9099000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-16222000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-13552000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-15681000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-9499000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-17782000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-13204000
CY2018Q4 us-gaap Net Income Loss
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-15335000
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.45
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.52
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117000
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
177000
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
283000
CY2017Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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234000
CY2017Q1 us-gaap Operating Expenses
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4785000
CY2017Q2 us-gaap Operating Expenses
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CY2017Q3 us-gaap Operating Expenses
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6143000
CY2017Q4 us-gaap Operating Expenses
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7441000
CY2017Q1 us-gaap Operating Income Loss
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CY2017Q2 us-gaap Operating Income Loss
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-7431000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5988000
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-7485000
CY2018 ecor Operating Leases Expiration Month And Year
OperatingLeasesExpirationMonthAndYear
2024-04
CY2018Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P5Y
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
576743
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
714616
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
692893
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
737324
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3696796
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6418372
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
496055

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