2018 Q3 Form 10-Q Financial Statement

#000156032718000103 Filed on August 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $62.37M $58.44M $47.44M
YoY Change 23.44% 23.18% 27.3%
Cost Of Revenue $17.81M $17.39M $13.08M
YoY Change 23.96% 32.98% 40.74%
Gross Profit $44.56M $41.05M $34.36M
YoY Change 23.24% 19.45% 22.84%
Gross Profit Margin 71.44% 70.24% 72.43%
Selling, General & Admin $38.75M $39.31M $34.39M
YoY Change 8.75% 14.3% 21.41%
% of Gross Profit 86.96% 95.76% 100.07%
Research & Development $17.11M $16.08M $11.87M
YoY Change 26.09% 35.45% -8.19%
% of Gross Profit 38.4% 39.18% 34.55%
Depreciation & Amortization $1.600M $1.600M $1.100M
YoY Change 33.33% 45.45% 0.0%
% of Gross Profit 3.59% 3.9% 3.2%
Operating Expenses $55.86M $55.39M $46.26M
YoY Change 13.54% 19.73% 12.13%
Operating Profit -$11.30M -$14.34M -$11.90M
YoY Change -13.35% 20.53% -10.42%
Interest Expense $1.679M $0.00 $218.0K
YoY Change 15163.64% -100.0% 738.46%
% of Operating Profit
Other Income/Expense, Net $181.0K -$326.0K $229.0K
YoY Change -22.98% -242.36% -577.08%
Pretax Income -$11.99M -$14.20M -$11.45M
YoY Change -4.94% 24.03% -13.93%
Income Tax -$155.0K $131.0K $187.0K
% Of Pretax Income
Net Earnings -$11.83M -$14.33M -$11.64M
YoY Change 15.04% 23.17% -13.49%
Net Earnings / Revenue -18.97% -24.53% -24.53%
Basic Earnings Per Share
Diluted Earnings Per Share -$251.6K -$308.9K -$271.7K
COMMON SHARES
Basic Shares Outstanding 46.85M shares 46.23M shares 42.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $271.8M $114.7M $84.30M
YoY Change 223.96% 36.06% -0.59%
Cash & Equivalents $131.2M $100.7M $53.07M
Short-Term Investments $140.6M $14.00M $31.20M
Other Short-Term Assets $22.00M $22.70M $8.900M
YoY Change 152.87% 155.06% 23.61%
Inventory
Prepaid Expenses
Receivables $53.80M $48.50M $47.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $347.6M $185.9M $140.7M
YoY Change 145.94% 32.08% 7.76%
LONG-TERM ASSETS
Property, Plant & Equipment $11.86M $11.18M $8.287M
YoY Change 48.33% 34.96% 12.2%
Goodwill $83.16M $83.16M $75.11M
YoY Change -0.01% 10.72% 0.08%
Intangibles $16.02M $16.00M $8.294M
YoY Change -6.89% 92.93%
Long-Term Investments $39.30M $3.900M $8.800M
YoY Change 3472.73% -55.68%
Other Assets $24.10M $23.60M $600.0K
YoY Change 3916.67% 3833.33% 0.0%
Total Long-Term Assets $174.4M $137.9M $101.1M
YoY Change 58.37% 36.36% 8.44%
TOTAL ASSETS
Total Short-Term Assets $347.6M $185.9M $140.7M
Total Long-Term Assets $174.4M $137.9M $101.1M
Total Assets $522.0M $323.8M $241.9M
YoY Change 107.59% 33.87% 8.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.766M $4.612M $2.257M
YoY Change -22.46% 104.34% -46.26%
Accrued Expenses $27.39M $21.83M $20.67M
YoY Change 15.4% 5.64% 4.39%
Deferred Revenue $159.4M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $190.4M $181.2M $150.3M
YoY Change 17.67% 20.5% 20.85%
LONG-TERM LIABILITIES
Long-Term Debt $172.2M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.607M $2.305M $2.539M
YoY Change 11.74% -9.22% -13.61%
Total Long-Term Liabilities $2.607M $2.305M $2.539M
YoY Change 11.74% -9.22% -13.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $190.4M $181.2M $150.3M
Total Long-Term Liabilities $2.607M $2.305M $2.539M
Total Liabilities $428.9M $254.2M $207.2M
YoY Change 95.22% 22.68% 19.99%
SHAREHOLDERS EQUITY
Retained Earnings -$451.6M -$439.7M -$411.6M
YoY Change 7.03% 6.83% 11.44%
Common Stock $473.0K $467.0K $435.0K
YoY Change 7.74% 7.36% 3.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.764M $4.764M $4.531M
YoY Change 2.56% 5.14% 9.08%
Treasury Stock Shares 486.8K shares 486.8K shares 473.6K shares
Shareholders Equity $93.10M $69.54M $34.63M
YoY Change
Total Liabilities & Shareholders Equity $522.0M $323.8M $241.9M
YoY Change 107.59% 33.87% 8.04%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$11.83M -$14.33M -$11.64M
YoY Change 15.04% 23.17% -13.49%
Depreciation, Depletion And Amortization $1.600M $1.600M $1.100M
YoY Change 33.33% 45.45% 0.0%
Cash From Operating Activities -$4.050M -$9.120M -$3.980M
YoY Change -170.56% 129.15% -313.98%
INVESTING ACTIVITIES
Capital Expenditures -$3.850M -$4.220M -$1.550M
YoY Change 181.02% 172.26% 106.67%
Acquisitions
YoY Change
Other Investing Activities -$161.8M $12.87M $5.280M
YoY Change 1418.2% 143.75%
Cash From Investing Activities -$165.7M $8.650M $3.720M
YoY Change 1278.45% 132.53% -596.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 199.8M 1.830M 2.440M
YoY Change 9413.33% -25.0% 1061.9%
NET CHANGE
Cash From Operating Activities -4.050M -9.120M -3.980M
Cash From Investing Activities -165.7M 8.650M 3.720M
Cash From Financing Activities 199.8M 1.830M 2.440M
Net Change In Cash 30.04M 1.360M 2.180M
YoY Change -818.66% -37.61% 65.15%
FREE CASH FLOW
Cash From Operating Activities -$4.050M -$9.120M -$3.980M
Capital Expenditures -$3.850M -$4.220M -$1.550M
Free Cash Flow -$200.0K -$4.900M -$2.430M
YoY Change -102.81% 101.65% -193.1%

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us-gaap Gross Profit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
226000 USD
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623000 USD
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315000 USD
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2391000 USD
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-1240000 USD
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-1001000 USD
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-819000 USD
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-669000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-412000 USD
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3602000 USD
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23332000 USD
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IntangibleAssetsNetExcludingGoodwill
16640000 USD
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16002000 USD
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IntangibleAssetsNetExcludingGoodwill
16640000 USD
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InterestIncomeExpenseNonoperatingNet
218000 USD
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387000 USD
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InterestIncomeExpenseNonoperatingNet
464000 USD
us-gaap Interest Income Expense Nonoperating Net
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705000 USD
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-14333000 USD
us-gaap Net Income Loss
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-30694000 USD
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259983000 USD
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254228000 USD
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261305000 USD
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284136000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
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323771000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
311331000 USD
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189485000 USD
CY2018Q2 us-gaap Liabilities Current
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181157000 USD
CY2017Q4 us-gaap Long Term Investments
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1102000 USD
CY2018Q2 us-gaap Long Term Investments
LongTermInvestments
3929000 USD
CY2018Q1 us-gaap Long Term Investments
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1102000 USD
CY2018Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
600000 USD
CY2018Q1 us-gaap Loss Contingency Accrual Carrying Value Period Increase Decrease
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400000 USD
CY2017Q2 us-gaap Maintenance Revenue
MaintenanceRevenue
11338000 USD
us-gaap Maintenance Revenue
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22140000 USD
CY2018Q2 us-gaap Maintenance Revenue
MaintenanceRevenue
10610000 USD
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21363000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
4553000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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36191000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-4117000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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15410000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-660000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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-1818000 USD
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-11637000 USD
us-gaap Net Income Loss
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-22182000 USD
us-gaap Number Of Operating Segments
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1 Segment
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OperatingExpenses
46261000 USD
us-gaap Operating Expenses
OperatingExpenses
89712000 USD
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55388000 USD
us-gaap Operating Expenses
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109894000 USD
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OperatingIncomeLoss
-11897000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-22367000 USD
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OperatingIncomeLoss
-14340000 USD
us-gaap Operating Income Loss
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CY2017Q4 us-gaap Other Assets
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1363000 USD
CY2018Q2 us-gaap Other Assets
OtherAssets
1395000 USD
CY2018Q1 us-gaap Other Assets
OtherAssets
1363000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-10000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-30000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
20000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
15000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-7000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-27000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29318000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34645000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
20000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
15000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-3000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1706000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1079000 USD
CY2018Q1 us-gaap Other Liabilities Current
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1706000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1809000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2305000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2238000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-175000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
71000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
229000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
114000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-326000 USD
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OtherNonoperatingIncomeExpense
-248000 USD
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
796000 USD
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
608000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
261000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1005000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
15828000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
10655000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8877000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13212000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8907000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30900000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
30907000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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14605000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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33128000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4111000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4657000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
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8589000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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8589000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11184000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
478000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11873000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23266000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16082000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
32804000 USD
CY2017Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 USD
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RestrictedCashCurrent
500000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-434913000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-439734000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-409040000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
58441000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
112956000 USD
CY2017Q2 us-gaap Revenues
Revenues
47443000 USD
us-gaap Revenues
Revenues
92688000 USD
CY2018Q2 us-gaap Revenues
Revenues
58441000 USD
us-gaap Revenues
Revenues
112956000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
8937000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
17438000 USD
CY2018Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
8788000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
17271000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27132000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
51942000 USD
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SellingAndMarketingExpense
31157000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
60209000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9450000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13575000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2018Q1 us-gaap Share Price
SharePrice
22.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
39178000 USD
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
13983000 USD
CY2018Q1 us-gaap Short Term Investments
ShortTermInvestments
39178000 USD
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5950000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
24153000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
69543000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
50026000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
486808 shares
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
486808 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
4764000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
4764000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
4764000 USD
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
42681287 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
42395450 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46279947 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45746513 shares

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