$STIM
Neuronetics, Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019029364 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2
Revenue $16.57M
YoY Change 25.05%
Cost Of Revenue $4.171M
YoY Change 28.54%
Gross Profit $12.40M
YoY Change 23.92%
Gross Profit Margin 74.83%
Selling, General & Admin $15.78M
YoY Change 22.23%
% of Gross Profit 127.28%
Research & Development $3.224M
YoY Change 38.37%
% of Gross Profit 26.0%
Depreciation & Amortization $260.0K
YoY Change -13.33%
% of Gross Profit 2.1%
Operating Expenses $19.01M
YoY Change 24.7%
Operating Profit -$6.607M
YoY Change 26.18%
Interest Expense $931.0K
YoY Change 3.44%
% of Operating Profit
Other Income/Expense, Net $444.0K
YoY Change -132.65%
Pretax Income -$7.090M
YoY Change -5.47%
Income Tax
% Of Pretax Income
Net Earnings -$7.094M
YoY Change -5.36%
Net Earnings / Revenue -42.81%
Basic Earnings Per Share
Diluted Earnings Per Share -$386.4K
COMMON SHARES
Basic Shares Outstanding 18.31M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $89.60M
YoY Change 517.93%
Cash & Equivalents $89.64M
Short-Term Investments
Other Short-Term Assets $1.300M
YoY Change -69.77%
Inventory $2.552M
Prepaid Expenses $237.0K
Receivables $7.563M
Other Receivables $200.0K
Total Short-Term Assets $101.3M
YoY Change 289.59%
LONG-TERM ASSETS
Property, Plant & Equipment $1.105M
YoY Change -25.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.284M
YoY Change 50.88%
Total Long-Term Assets $8.129M
YoY Change 246.8%
TOTAL ASSETS
Total Short-Term Assets $101.3M
Total Long-Term Assets $8.129M
Total Assets $109.4M
YoY Change 286.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.659M
YoY Change 24.97%
Accrued Expenses $6.476M
YoY Change -16.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.750M
YoY Change 50.0%
Total Short-Term Liabilities $16.61M
YoY Change 11.87%
LONG-TERM LIABILITIES
Long-Term Debt $27.01M
YoY Change -1.78%
Other Long-Term Liabilities $6.000M
YoY Change 172.73%
Total Long-Term Liabilities $27.01M
YoY Change -1.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.61M
Total Long-Term Liabilities $27.01M
Total Liabilities $49.61M
YoY Change 6.73%
SHAREHOLDERS EQUITY
Retained Earnings -$235.7M
YoY Change 12.25%
Common Stock $295.5M
YoY Change 6230.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.82M
YoY Change
Total Liabilities & Shareholders Equity $109.4M
YoY Change 286.05%

Cashflow Statement

Concept 2019 Q2
OPERATING ACTIVITIES
Net Income -$7.094M
YoY Change -5.36%
Depreciation, Depletion And Amortization $260.0K
YoY Change -13.33%
Cash From Operating Activities -$6.850M
YoY Change 34.31%
INVESTING ACTIVITIES
Capital Expenditures -$130.0K
YoY Change -38.1%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$130.0K
YoY Change -38.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 470.0K
YoY Change -195.92%
NET CHANGE
Cash From Operating Activities -6.850M
Cash From Investing Activities -130.0K
Cash From Financing Activities 470.0K
Net Change In Cash -6.510M
YoY Change 12.24%
FREE CASH FLOW
Cash From Operating Activities -$6.850M
Capital Expenditures -$130.0K
Free Cash Flow -$6.720M
YoY Change 37.42%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:4pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="N1_DESCRIPTION_BUSINESS"></a>1.<font style="font-weight:normal;margin-left:36pt;"></font><a name="N1_DESCRIPTION_BUSINESS"></a>DESCRIPTION OF BUSINESS </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;">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. NeuroStar Advanced Therapy is also available in other parts of the world, including Japan, where it is listed under Japan&#8217;s national health insurance. 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;">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&#160;30, 2019, the Company had cash and cash equivalents of $89.6 million and an accumulated deficit of $235.7 million. The Company incurred negative cash flows from operating activities of $20.6 million for the year ended December&#160;31, 2018 and $16.4 million for the six months ended June&#160;30, 2019. 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 proceeds 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&#160;30, 2019, 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&#160;30, 2019 and anticipated revenues from sales of its products are sufficient to fund the Company&#8217;s operations for at least the next 24 months after June&#160;30, 2019. </p>
us-gaap Basis Of Accounting
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<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 United States generally accepted accounting principles, 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 ASUs, 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&#160;30, 2019 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 Form 10-K filed with the SEC on March 5, 2019, 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 prior to the initial public offering (IPO).</p>
us-gaap Use Of Estimates
UseOfEstimates
<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 prior to the initial public offering (IPO).</p>
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20600000
us-gaap Revenue Performance Obligation Description Of Warranty
RevenuePerformanceObligationDescriptionOfWarranty
The Company provides a two-year warranty on all new System sales which were determined to be assurance-type warranties and thus not considered a separate performance obligation. The Company accrues the cost of providing these warranties
CY2019Q2 us-gaap Contract With Customer Right To Recover Product
ContractWithCustomerRightToRecoverProduct
0
stim Distribution Agreement Period
DistributionAgreementPeriod
P7Y6M
stim Distribution Agreement Renewal Period
DistributionAgreementRenewalPeriod
P2Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.37
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.16
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.11
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.11
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.11
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.14
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
1.00
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1700000
us-gaap Interest Expense Debt
InterestExpenseDebt
1400000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
400000
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
CY2019Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
8074000
CY2018Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6120000
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
511000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
500000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3252000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3394000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2147000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2016000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
500000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
500000
us-gaap Lessee Finance Lease Lease Not Yet Commenced Description
LesseeFinanceLeaseLeaseNotYetCommencedDescription
The Company does not currently have any finance leases or executed leases that have not yet commenced.
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y7M6D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
us-gaap Operating Lease Payments
OperatingLeasePayments
175000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4164000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
271000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
584000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
613000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
637000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
634000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2791000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5530000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1372000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4158000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
547000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
560000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
88000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1195000
CY2019Q2 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
118000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
262000
CY2019Q2 us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
118000
us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
262000
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
240000
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
240000
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
160000
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
640000
CY2019Q2 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
600000
CY2019Q2 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
0
CY2019Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
100000
CY2018Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
200000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
300000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
400000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
245000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
365000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
150000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
760000
stim Amortization Period Of Deferred Sales Commissions
AmortizationPeriodOfDeferredSalesCommissions
P7Y
CY2019Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
40000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
400000
CY2019Q2 stim Common Stock Shares Issued And Reserved For Future Issuance
CommonStockSharesIssuedAndReservedForFutureIssuance
23045000
CY2018Q4 stim Common Stock Shares Issued And Reserved For Future Issuance
CommonStockSharesIssuedAndReservedForFutureIssuance
22159000
CY2019Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
105000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1022000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
192000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1523000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
60000
CY2019Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
3638000
CY2018Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4909000
CY2019Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
516000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
342000
CY2019Q2 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
329000
CY2018Q4 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
191000
CY2019Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
96000
CY2018Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
127000
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
716000
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
629000
CY2019Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
470000
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
606000
CY2019Q2 us-gaap Interest Payable Current
InterestPayableCurrent
245000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
251000
CY2019Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
466000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
493000
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2019Q2 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1646000
CY2018Q4 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1468000
CY2019Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
889000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1073000
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
30757000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
30395000
CY2019Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
900000
CY2018Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
900000
CY2019Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
700000
CY2018Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
700000
CY2019Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
CY2018Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
1900000
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
1800000
us-gaap Interest Expense Debt
InterestExpenseDebt
1500000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
336000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.70
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
9400000
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
16.08
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
16.08
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.024
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.553
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Defined Contribution Plan Plan Name
DefinedContributionPlanPlanName
401(k) plan
CY2017 stim Distribution Agreement Period
DistributionAgreementPeriod
P7Y6M
CY2019Q2 stim Reimbursement Revenue Per Treatment
ReimbursementRevenuePerTreatment
12000
CY2017 stim Distribution Agreement Renewal Period
DistributionAgreementRenewalPeriod
P2Y
stim Distribution Agreements With Renewal Description
DistributionAgreementsWithRenewalDescription
The term of the distribution agreement will be automatically extended for two years unless either party gives the other party at least two years’ prior written of notice of non-renewal, except that the Company cannot decline to renew the agreement if Teijin has purchased 100% of its sales forecasts over the term of the agreement.
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1

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