$STIM
Neuronetics, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019040392 Filed on November 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $16.00M $13.74M $13.25M
YoY Change 16.47% 30.94% 28.56%
Cost Of Revenue $4.192M $3.034M $3.245M
YoY Change 38.17% 15.1% 29.75%
Gross Profit $11.81M $10.70M $10.01M
YoY Change 10.32% 36.26% 28.18%
Gross Profit Margin 73.8% 77.91% 75.51%
Selling, General & Admin $14.65M $12.91M $12.91M
YoY Change 13.45% 46.34% 56.77%
% of Gross Profit 124.04% 120.62% 129.04%
Research & Development $3.489M $2.125M $2.330M
YoY Change 64.19% 15.3% 8.52%
% of Gross Profit 29.55% 19.85% 23.28%
Depreciation & Amortization $310.0K $210.0K $300.0K
YoY Change 47.62% 40.0% 200.0%
% of Gross Profit 2.63% 1.96% 3.0%
Operating Expenses $18.14M $15.04M $15.24M
YoY Change 20.63% 40.98% 46.79%
Operating Profit -$6.328M -$4.332M -$5.236M
YoY Change 46.08% 54.16% 103.18%
Interest Expense $930.0K $928.0K $900.0K
YoY Change 0.22% 14.99% 26.58%
% of Operating Profit
Other Income/Expense, Net $391.0K $299.0K -$1.360M
YoY Change 30.77% -319.85% -423.81%
Pretax Income -$6.870M -$4.960M -$7.500M
YoY Change 38.51% 32.27% 161.32%
Income Tax
% Of Pretax Income
Net Earnings -$6.867M -$4.961M -$7.496M
YoY Change 38.42% 32.19% 161.37%
Net Earnings / Revenue -42.92% -36.11% -56.57%
Basic Earnings Per Share
Diluted Earnings Per Share -$371.2K -$282.1K -$461.5K
COMMON SHARES
Basic Shares Outstanding 17.58M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.40M $106.8M $14.50M
YoY Change -22.85%
Cash & Equivalents $82.37M $106.8M $14.54M
Short-Term Investments
Other Short-Term Assets $2.400M $2.100M $4.300M
YoY Change 14.29%
Inventory $2.900M $2.600M $2.441M
Prepaid Expenses $442.0K
Receivables $7.600M $5.300M $4.724M
Other Receivables $600.0K $0.00 $0.00
Total Short-Term Assets $95.91M $116.7M $26.00M
YoY Change -17.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.007M $1.343M $1.493M
YoY Change -25.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.083M $897.0K $851.0K
YoY Change 20.74%
Total Long-Term Assets $9.575M $2.240M $2.344M
YoY Change 327.46%
TOTAL ASSETS
Total Short-Term Assets $95.91M $116.7M $26.00M
Total Long-Term Assets $9.575M $2.240M $2.344M
Total Assets $105.5M $119.0M $28.35M
YoY Change -11.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.109M $2.102M $2.928M
YoY Change 95.48%
Accrued Expenses $7.612M $6.383M $7.731M
YoY Change 19.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.500M $5.000M $2.500M
YoY Change 50.0%
Total Short-Term Liabilities $22.00M $15.30M $14.85M
YoY Change 43.82%
LONG-TERM LIABILITIES
Long-Term Debt $23.45M $25.20M $27.50M
YoY Change -6.94%
Other Long-Term Liabilities $5.700M $2.100M $2.200M
YoY Change 171.43%
Total Long-Term Liabilities $23.45M $25.20M $27.50M
YoY Change -6.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.00M $15.30M $14.85M
Total Long-Term Liabilities $23.45M $25.20M $27.50M
Total Liabilities $51.15M $42.63M $46.48M
YoY Change 19.99%
SHAREHOLDERS EQUITY
Retained Earnings -$242.5M -$209.9M
YoY Change
Common Stock $296.9M $4.668M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.33M $76.35M -$205.3M
YoY Change
Total Liabilities & Shareholders Equity $105.5M $119.0M $28.35M
YoY Change -11.36%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$6.867M -$4.961M -$7.496M
YoY Change 38.42% 32.19% 161.37%
Depreciation, Depletion And Amortization $310.0K $210.0K $300.0K
YoY Change 47.62% 40.0% 200.0%
Cash From Operating Activities -$7.660M -$4.920M -$5.100M
YoY Change 55.69% 154.92% 82.8%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$140.0K -$210.0K
YoY Change -64.29% -17.65% 200.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$50.00K -$140.0K -$210.0K
YoY Change -64.29% -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 440.0K 97.27M -490.0K
YoY Change -99.55% 972600.0% -103.3%
NET CHANGE
Cash From Operating Activities -7.660M -4.920M -5.100M
Cash From Investing Activities -50.00K -140.0K -210.0K
Cash From Financing Activities 440.0K 97.27M -490.0K
Net Change In Cash -7.270M 92.21M -5.800M
YoY Change -107.88% -4511.96% -148.41%
FREE CASH FLOW
Cash From Operating Activities -$7.660M -$4.920M -$5.100M
Capital Expenditures -$50.00K -$140.0K -$210.0K
Free Cash Flow -$7.610M -$4.780M -$4.890M
YoY Change 59.21% 171.59% 79.78%

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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 September&#160;30, 2019, the Company had cash and cash equivalents of $82.4 million and an accumulated deficit of $242.5 million. The Company incurred negative cash flows from operating activities of $20.6 million for the year ended December&#160;31, 2018 and $24.1 million for the nine months ended September&#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 September&#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 September&#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 September&#160;30, 2019. </p>
us-gaap Basis Of Accounting
BasisOfAccounting
<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 nine months ended September&#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
CY2019Q3 us-gaap Contract With Customer Right To Recover Product
ContractWithCustomerRightToRecoverProduct
0
stim Distribution Agreement Period
DistributionAgreementPeriod
P7Y6M
stim Distribution Agreement Renewal Period
DistributionAgreementRenewalPeriod
P2Y
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.30
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.23
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
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RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
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RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.11
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.14
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2000000
CY2019Q3 stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
0
CY2018Q3 stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
0
stim Number Of Customer Accounted For More Than Ten Percentage Of Revenues
NumberOfCustomerAccountedForMoreThanTenPercentageOfRevenues
0
stim Number Of Customer Accounted For Ten Percentage Of Revenues
NumberOfCustomerAccountedForTenPercentageOfRevenues
1
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
1396000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
1874000
CY2019Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
8121000
CY2018Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6120000
CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
569000
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
500000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3193000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3394000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2186000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2016000
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
CY2018Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
800000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
700000
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.
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y7M6D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
us-gaap Operating Lease Payments
OperatingLeasePayments
330000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4164000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
156000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
584000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
613000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
637000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
634000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2791000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5415000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1416000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3999000
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
CY2019Q3 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
506000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
768000
CY2019Q3 us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
506000
us-gaap Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
768000
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
60000
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
633000
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
633000
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
448000
CY2019Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
1774000
CY2019Q3 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
1800000
CY2019Q3 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
0
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
200000
CY2018Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
300000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
600000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
700000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
150000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
365000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
150000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
665000
stim Amortization Period Of Deferred Sales Commissions
AmortizationPeriodOfDeferredSalesCommissions
P7Y
CY2019Q3 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
100000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
200000
CY2019Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4764000
CY2018Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4909000
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
387000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
342000
CY2019Q3 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
50000
CY2018Q4 stim Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
191000
CY2019Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
287000
CY2018Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
127000
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
737000
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
629000
CY2019Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
538000
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
606000
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
237000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
251000
CY2019Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
612000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
493000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2019Q3 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1740000
CY2018Q4 stim Accrued Of Final Payment Fee
AccruedOfFinalPaymentFee
1468000
CY2019Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
790000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1073000
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
30950000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
30395000
CY2019Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
900000
CY2018Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
900000
CY2019Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
700000
CY2018Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
700000
CY2019Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
CY2018Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
2800000
us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
2700000
us-gaap Interest Expense Debt
InterestExpenseDebt
2200000
us-gaap Interest Expense Debt
InterestExpenseDebt
2100000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
600000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
600000
CY2019Q3 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
CY2019Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
105000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
934000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1028000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2458000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1364000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10600000
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
14.82
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
14.82
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
0.023
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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