2020 Q4 Form 10-Q Financial Statement

#000172811720000009 Filed on November 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.88M $11.45M $9.840M
YoY Change 37.01% 16.36% -56.8%
% of Gross Profit
Research & Development $38.91M $41.85M $40.15M
YoY Change -8.66% 4.23% 112.91%
% of Gross Profit
Depreciation & Amortization $370.0K $360.0K $260.0K
YoY Change 27.59% 38.46% 116.67%
% of Gross Profit
Operating Expenses $54.79M $53.57M $49.99M
YoY Change 1.11% 7.17% -0.08%
Operating Profit -$53.57M -$49.99M
YoY Change 7.17% -0.08%
Interest Expense -$3.500M $4.715M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.020M -$4.243M $1.486M
YoY Change -193.58% -385.53%
Pretax Income -$64.60M -$57.81M -$48.50M
YoY Change 18.1% 19.2% -1.82%
Income Tax
% Of Pretax Income
Net Earnings -$64.60M -$57.81M -$48.50M
YoY Change 18.1% 19.2% -1.84%
Net Earnings / Revenue
Basic Earnings Per Share -$0.80
Diluted Earnings Per Share -$881.9K -$0.80 -$798.2K
COMMON SHARES
Basic Shares Outstanding 75.93M shares 72.25M shares 65.93M
Diluted Shares Outstanding 72.25M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $512.6M $555.4M $446.5M
YoY Change 27.58% 24.39% 74.14%
Cash & Equivalents $486.1M $462.0M $130.7M
Short-Term Investments $26.60M $93.40M $315.8M
Other Short-Term Assets $9.700M $10.80M $5.900M
YoY Change 29.33% 83.05% 210.53%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $522.3M $566.2M $452.4M
YoY Change 27.61% 25.16% 75.07%
LONG-TERM ASSETS
Property, Plant & Equipment $5.534M $5.717M $5.133M
YoY Change 2.01% 11.38% 71.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.027M $861.0K $1.387M
YoY Change -34.12% -37.92% 73.38%
Total Long-Term Assets $17.11M $17.97M $17.38M
YoY Change -1.02% 3.41% 357.37%
TOTAL ASSETS
Total Short-Term Assets $522.3M $566.2M $452.4M
Total Long-Term Assets $17.11M $17.97M $17.38M
Total Assets $539.4M $584.2M $469.8M
YoY Change 26.45% 24.36% 79.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.508M $865.0K $2.555M
YoY Change 685.36% -66.14% -29.03%
Accrued Expenses $20.71M $19.50M $11.44M
YoY Change 23.95% 70.44% 1.27%
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 $38.65M $32.61M $33.17M
YoY Change 4.68% -1.69% 122.61%
LONG-TERM LIABILITIES
Long-Term Debt $28.74M $28.67M $28.37M
YoY Change 1.0% 1.04%
Other Long-Term Liabilities $7.700M $8.600M $9.300M
YoY Change -11.49% -7.53% 1228.57%
Total Long-Term Liabilities $28.74M $28.67M $28.37M
YoY Change 1.0% 1.04% 3952.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.65M $32.61M $33.17M
Total Long-Term Liabilities $28.74M $28.67M $28.37M
Total Liabilities $218.7M $212.1M $70.88M
YoY Change 195.13% 199.2% 354.37%
SHAREHOLDERS EQUITY
Retained Earnings -$577.5M -$512.9M -$279.5M
YoY Change 72.8% 83.52%
Common Stock $897.6M $884.7M $678.0M
YoY Change 30.77% 30.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $320.7M $372.1M $398.9M
YoY Change
Total Liabilities & Shareholders Equity $539.4M $584.2M $469.8M
YoY Change 26.45% 24.36% 79.16%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$64.60M -$57.81M -$48.50M
YoY Change 18.1% 19.2% -1.84%
Depreciation, Depletion And Amortization $370.0K $360.0K $260.0K
YoY Change 27.59% 38.46% 116.67%
Cash From Operating Activities -$36.74M -$44.93M -$36.11M
YoY Change -16.76% 24.43% 132.82%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$300.0K -$710.0K
YoY Change -52.83% -57.75% -58.72%
Acquisitions
YoY Change
Other Investing Activities $61.35M $20.26M $18.66M
YoY Change 29.27% 8.57% -118.05%
Cash From Investing Activities $61.10M $19.96M $17.95M
YoY Change 30.17% 11.2% -117.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 250.0K 890.0K 370.0K
YoY Change -83.55% 140.54% -99.84%
NET CHANGE
Cash From Operating Activities -36.74M -44.93M -36.11M
Cash From Investing Activities 61.10M 19.96M 17.95M
Cash From Financing Activities 250.0K 890.0K 370.0K
Net Change In Cash 24.61M -24.08M -17.79M
YoY Change 469.68% 35.36% -116.33%
FREE CASH FLOW
Cash From Operating Activities -$36.74M -$44.93M -$36.11M
Capital Expenditures -$250.0K -$300.0K -$710.0K
Free Cash Flow -$36.49M -$44.63M -$35.40M
YoY Change -16.33% 26.07% 156.71%

Facts In Submission

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us-gaap Realized Investment Gains Losses
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IncreaseDecreaseInAccountsPayable
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ProceedsFromSaleOfMarketableSecurities
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ProceedsFromIssuanceOfCommonStock
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0 USD
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0 USD
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28222000 USD
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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InterestPaidNet
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InterestPaidNet
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goss Right Of Use Assets Obtained In Exchange For Lease Liabilities
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goss Right Of Use Assets Obtained In Exchange For Lease Liabilities
RightOfUseAssetsObtainedInExchangeForLeaseLiabilities
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goss Noncash Investing And Financing Activities Change In Unrealized Gain On Marketable Securities Net Of Tax
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goss Noncash Investing And Financing Activities Change In Unrealized Gain On Marketable Securities Net Of Tax
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510000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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83000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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goss Noncash Financing And Investing Conversions Of Convertible Preferred Stock To Common Stock
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0 USD
goss Noncash Financing And Investing Conversions Of Convertible Preferred Stock To Common Stock
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CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
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goss Funds Raised Through Preferred Equity Financing Convertible Note Financings And Completed Initial Public Offering
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us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s condensed consolidated financial statements relate to the allocation of the 2027 Notes into liability and equity components, accrued research and development expenses, the valuation of preferred and common stock, the valuation of stock options and the valuation allowance of deferred tax assets resulting from net operating losses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results could differ from those estimates.</span></div>
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7975000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6639000 USD
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2258000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1214000 USD
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PropertyPlantAndEquipmentNet
5717000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5425000 USD
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8623000 USD
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EmployeeRelatedLiabilitiesCurrent
9282000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3548000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2354000 USD
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2581000 USD
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2347000 USD
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
3864000 USD
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
0 USD
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
612000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1126000 USD
CY2020Q3 goss Accrued In Process Research And Development
AccruedInProcessResearchAndDevelopment
275000 USD
CY2019Q4 goss Accrued In Process Research And Development
AccruedInProcessResearchAndDevelopment
1600000 USD
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AccruedLiabilitiesCurrent
19503000 USD
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AccruedLiabilitiesCurrent
16709000 USD
CY2019Q4 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
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0 USD
CY2020Q3 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
FairValueEquityLevel1ToLevel2TransfersAmount
0 USD
CY2019Q4 us-gaap Fair Value Equity Level2 To Level1 Transfers Amount
FairValueEquityLevel2ToLevel1TransfersAmount
0 USD
CY2020Q3 us-gaap Fair Value Equity Level2 To Level1 Transfers Amount
FairValueEquityLevel2ToLevel1TransfersAmount
0 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
93120000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
302000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
79582000 USD
CY2020Q3 goss Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
13840000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
93422000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2018Q2 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
20000000.0 USD
CY2020Q3 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
275000 USD
CY2019Q3 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
0 USD
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
18080000 USD
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
2000000 USD
goss Common Stock Voting Rights Number Of Votes Per Share
CommonStockVotingRightsNumberOfVotesPerShare
1 vote
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9433963 shares
CY2020Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
13.25
CY2020Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
117100000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3434613 shares
CY2019 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4648526 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8538060 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.67
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
35385000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.02
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.73
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
735012 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.61
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.83
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
19221000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
12.57
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y8M12D
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10026000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.96
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8923000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5728000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26067000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13957000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1007000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2577000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
16000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
54000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
1023000 USD
us-gaap Lease Cost
LeaseCost
2631000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1000000.0 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2600000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1043000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4273000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3579000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2063000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2123000 USD
CY2020Q3 goss Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
387000 USD
CY2020Q3 goss Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
397000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13865000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1670000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
12195000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3548000 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8647000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
12195000 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000.0 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2900000 USD

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