$STIM
Neuronetics Inc

2018 Q3 Form 10-Q Financial Statement

#000156459018021702 Filed on August 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $13.74M $13.25M $10.31M
YoY Change 30.94% 28.56%
Cost Of Revenue $3.034M $3.245M $2.501M
YoY Change 15.1% 29.75%
Gross Profit $10.70M $10.01M $7.807M
YoY Change 36.26% 28.18%
Gross Profit Margin 77.91% 75.51% 75.74%
Selling, General & Admin $12.91M $12.91M $8.237M
YoY Change 46.34% 56.77%
% of Gross Profit 120.62% 129.04% 105.51%
Research & Development $2.125M $2.330M $2.147M
YoY Change 15.3% 8.52%
% of Gross Profit 19.85% 23.28% 27.5%
Depreciation & Amortization $210.0K $300.0K $100.0K
YoY Change 40.0% 200.0%
% of Gross Profit 1.96% 3.0% 1.28%
Operating Expenses $15.04M $15.24M $10.38M
YoY Change 40.98% 46.79%
Operating Profit -$4.332M -$5.236M -$2.577M
YoY Change 54.16% 103.18%
Interest Expense $928.0K $900.0K $711.0K
YoY Change 14.99% 26.58%
% of Operating Profit
Other Income/Expense, Net $299.0K -$1.360M $420.0K
YoY Change -319.85% -423.81%
Pretax Income -$4.960M -$7.500M -$2.870M
YoY Change 32.27% 161.32%
Income Tax
% Of Pretax Income
Net Earnings -$4.961M -$7.496M -$2.868M
YoY Change 32.19% 161.37%
Net Earnings / Revenue -36.11% -56.57% -27.82%
Basic Earnings Per Share
Diluted Earnings Per Share -$282.1K -$461.5K -$176.6K
COMMON SHARES
Basic Shares Outstanding 17.58M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.8M $14.50M
YoY Change
Cash & Equivalents $106.8M $14.54M $26.23M
Short-Term Investments
Other Short-Term Assets $2.100M $4.300M
YoY Change
Inventory $2.600M $2.441M
Prepaid Expenses
Receivables $5.300M $4.724M
Other Receivables $0.00 $0.00
Total Short-Term Assets $116.7M $26.00M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.343M $1.493M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $897.0K $851.0K
YoY Change
Total Long-Term Assets $2.240M $2.344M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $116.7M $26.00M
Total Long-Term Assets $2.240M $2.344M
Total Assets $119.0M $28.35M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.102M $2.928M
YoY Change
Accrued Expenses $6.383M $7.731M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $2.500M
YoY Change
Total Short-Term Liabilities $15.30M $14.85M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $25.20M $27.50M
YoY Change
Other Long-Term Liabilities $2.100M $2.200M
YoY Change
Total Long-Term Liabilities $25.20M $27.50M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $15.30M $14.85M
Total Long-Term Liabilities $25.20M $27.50M
Total Liabilities $42.63M $46.48M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$209.9M
YoY Change
Common Stock $4.668M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.35M -$205.3M
YoY Change
Total Liabilities & Shareholders Equity $119.0M $28.35M
YoY Change

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$4.961M -$7.496M -$2.868M
YoY Change 32.19% 161.37%
Depreciation, Depletion And Amortization $210.0K $300.0K $100.0K
YoY Change 40.0% 200.0%
Cash From Operating Activities -$4.920M -$5.100M -$2.790M
YoY Change 154.92% 82.8%
INVESTING ACTIVITIES
Capital Expenditures -$140.0K -$210.0K -$70.00K
YoY Change -17.65% 200.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$140.0K -$210.0K -$70.00K
YoY Change -17.65% 200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 97.27M -490.0K 14.84M
YoY Change 972600.0% -103.3%
NET CHANGE
Cash From Operating Activities -4.920M -5.100M -2.790M
Cash From Investing Activities -140.0K -210.0K -70.00K
Cash From Financing Activities 97.27M -490.0K 14.84M
Net Change In Cash 92.21M -5.800M 11.98M
YoY Change -4511.96% -148.41%
FREE CASH FLOW
Cash From Operating Activities -$4.920M -$5.100M -$2.790M
Capital Expenditures -$140.0K -$210.0K -$70.00K
Free Cash Flow -$4.780M -$4.890M -$2.720M
YoY Change 171.59% 79.78%

Facts In Submission

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<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:9pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:9pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><font style="font-weight:normal;"></font>DESCRIPTION OF BUSINESS </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Neuronetics, Inc., or the Company, is a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. The Company&#8217;s first commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system was cleared in 2008 by the United States Food and Drug Administration, or the FDA, to treat adult patients with major depressive disorder, or MDD, who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. The Company intends to continue to pursue development of its NeuroStar Advanced Therapy System for additional indications. </p> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Initial Public Offering </p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 2, 2018, the Company closed its initial public offering, or IPO, in which the Company issued and sold 6.325 million shares of its common stock, which included the exercise of the underwriters&#8217; option to purchase an additional 0.825 million shares of common stock, at a public offering price of $17.00 per share. The Company received net proceeds of $100.0 million after deducting underwriting discounts and commissions of $7.5 million but before deducting other offering expenses. The Company&#8217;s common stock is listed on the Nasdaq Global Market under the trading symbol &#8220;STIM.&#8221; In addition, upon the closing of the IPO on July 2, 2018, (i) all of the Company&#8217;s outstanding shares of convertible preferred stock converted into 11.0 million shares of common stock; (ii) all of the Company&#8217;s outstanding warrants to purchase convertible preferred stock converted into warrants to purchase common stock; and (iii) the Company filed an amended and restated certificate of incorporation to, among other things, decrease the number of shares of common stock, $0.01 par value per share, authorized for issuance to 200.0 million and to authorize the board of directors to issue up to 10.0 million shares of &#8220;blank check&#8221; preferred stock, $0.01 par value per share.</p> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Liquidity</p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of June 30, 2018, the Company had cash and cash equivalents of $14.5 million and an accumulated deficit of $209.9 million. The Company incurred negative cash flows from operating activities of $11.1 million for the year ended December&#160;31, 2017 and $13.4 million for the six months ended June 30, 2018. The Company has incurred operating losses since its inception, and management anticipates that its operating losses will continue in the near term as the Company seeks to expand its sales and marketing initiatives to support its growth into existing and new markets and invest in additional research and development activities. The Company&#8217;s primary sources of capital to date have been from its IPO, private placements of its convertible preferred securities, borrowings under its credit facilities and revenues from sales of its products. As of June 30, 2018, the Company had $30.0 million of borrowings outstanding under its credit facility, which matures in March 2022. Management believes that the Company&#8217;s cash and cash equivalents as of June 30, 2018, proceeds from its IPO and revenues from sales of its products are sufficient to fund the Company&#8217;s operations for at least the next 24 months after June 30, 2018. </p></div>
us-gaap Basis Of Accounting
BasisOfAccounting
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:9pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:9pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><font style="font-weight:normal;"></font>BASIS OF PRESENTATION </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification, or ASC, and Accounting Standards Updates, or ASU, promulgated by the Financial Accounting Standards Board, or FASB. </p> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Interim Financial Statements </p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying unaudited interim financial statements have been prepared from the books and records of the Company in accordance with GAAP for interim financial information and Rule 10-01 of Regulation S-X promulgated by the United States Securities and Exchange Commission, or SEC, which permit reduced disclosures for interim periods. All adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the accompanying balance sheets and statements of operations, changes in convertible preferred stock and stockholders&#8217; deficit and cash flows have been made. Although these interim financial statements do not include all of the information and footnotes required for complete annual financial statements, management believes the disclosures are adequate to make the information presented not misleading. Unaudited interim results of operations and cash flows for the three and six months ended June 30, 2018 are not necessarily indicative of the results that may be expected for the full year. Unaudited interim financial statements and footnotes should be read in conjunction with the audited financial statements and footnotes included in the Company&#8217;s IPO prospectus filed with the SEC on June 29, 2018, wherein a more complete discussion of significant accounting policies and certain other information can be found. </p> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;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 accordance with GAAP and the rules and regulations of the SEC requires the use of estimates and assumptions, based on judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company&#8217;s business and evolving market conditions, and given the subjective element of the estimates and assumptions made, actual results may differ from estimated results. The most significant estimates and judgments impact share-based compensation, product warranty accruals and the net realizable value of inventory. </p> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Recapitalization</p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company effected a 0.0345-for-1 reverse split of its common stock on June 14, 2018. The reverse split combined each approximately 29 shares of the Company&#8217;s issued and outstanding common stock into one share of common stock and correspondingly adjusted the conversion price of its outstanding convertible preferred stock. No fractional shares were issued in connection with the reverse split. Any fractional share resulting from the reverse split was rounded down to the nearest whole share, and in lieu of any fractional share, the Company will pay in cash to the holders of such fractional shares an amount equal to the fair market value, as determined by the board of directors, of such fractional shares. All share, per share and related information presented in these interim financial statements and the related notes thereto have been retroactively adjusted, where applicable, to reflect the reverse stock split. </p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;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 accordance with GAAP and the rules and regulations of the SEC requires the use of estimates and assumptions, based on judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company&#8217;s business and evolving market conditions, and given the subjective element of the estimates and assumptions made, actual results may differ from estimated results. The most significant estimates and judgments impact share-based compensation, product warranty accruals and the net realizable value of inventory. </p></div>
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<div> <p style="margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Recapitalization</p> <p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company effected a 0.0345-for-1 reverse split of its common stock on June 14, 2018. The reverse split combined each approximately 29 shares of the Company&#8217;s issued and outstanding common stock into one share of common stock and correspondingly adjusted the conversion price of its outstanding convertible preferred stock. No fractional shares were issued in connection with the reverse split. Any fractional share resulting from the reverse split was rounded down to the nearest whole share, and in lieu of any fractional share, the Company will pay in cash to the holders of such fractional shares an amount equal to the fair market value, as determined by the board of directors, of such fractional shares. All share, per share and related information presented in these interim financial statements and the related notes thereto have been retroactively adjusted, where applicable, to reflect the reverse stock split. </p></div>
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11100000
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
0.0345-for-1 reverse split
CY2018Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.0345
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1400000
stim Operating Leases Expiration Year
OperatingLeasesExpirationYear
2021
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
478000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
1415000
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1893000
CY2018Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
5149000
CY2017Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
4684000
CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
425000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
417000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3421000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3190000
CY2018Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1928000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1831000
CY2018Q2 us-gaap Depreciation
Depreciation
300000
CY2017Q2 us-gaap Depreciation
Depreciation
100000
us-gaap Depreciation
Depreciation
500000
us-gaap Depreciation
Depreciation
300000
CY2018Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2642000
CY2017Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4465000
CY2018Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2701000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
461000
CY2018Q2 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
303000
CY2017Q4 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
497000
CY2018Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
156000
CY2017Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
620000
CY2018Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
653000
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
570000
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
331000
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
322000
CY2018Q2 us-gaap Interest Payable Current
InterestPayableCurrent
235000
CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
188000
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
710000
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
388000
CY2018Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2018Q2 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1286000
CY2017Q4 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
940000
CY2018Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1289000
CY2017Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1384000
CY2018Q2 us-gaap Long Term Debt
LongTermDebt
29997000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
29556000
CY2018Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
700000
CY2017Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
500000
CY2018Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
CY2017Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
us-gaap Interest Expense Debt
InterestExpenseDebt
1400000
us-gaap Interest Expense Debt
InterestExpenseDebt
1000000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
400000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
300000
CY2017Q1 stim Debt Instrument Final Payment Fee
DebtInstrumentFinalPaymentFee
1000000
CY2018Q2 stim Common Stock Shares Issued And Reserved For Future Issuance
CommonStockSharesIssuedAndReservedForFutureIssuance
14279000
CY2018Q2 stim Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
304958000
CY2017Q4 stim Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
304958000
CY2017Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
108324000
stim Convertible Preferred Stock Non Cumulative Dividends Rate
ConvertiblePreferredStockNonCumulativeDividendsRate
0.090
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2018Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3046000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
192000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
156000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
336000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
198000
CY2018Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2700000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.64
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000
stim Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Weighted Average Grant Date Fair Value Of Underlying Common Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodWeightedAverageGrantDateFairValueOfUnderlyingCommonStock
5.94
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.94
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.027
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.658
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2018Q2 stim Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period To Purchase Shares Of Common Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodToPurchaseSharesOfCommonStock
54794
CY2018Q2 stim Share Based Compensation Arrangement By Share Based Payment Award Options Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePrice
5.22
CY2018Q2 stim Share Based Compensation Arrangement By Share Based Payment Award Stock Vesting Period Number Of Monthly Installment
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockVestingPeriodNumberOfMonthlyInstallment
12
CY2018Q2 stim Share Based Compensation Arrangement By Share Based Payment Award Options Estimated Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsEstimatedGrantDateFairValue
200000
us-gaap Defined Contribution Plan Plan Name
DefinedContributionPlanPlanName
401(k) plan
CY2013Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P93M
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1

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