2016 Q1 Form 10-Q Financial Statement
#000137128516000167 Filed on May 06, 2016
Income Statement
Concept | 2016 Q1 | 2015 Q1 |
---|---|---|
Revenue | $42.70M | $33.31M |
YoY Change | 28.19% | 29.91% |
Cost Of Revenue | $35.40M | $27.70M |
YoY Change | 27.8% | 32.54% |
Gross Profit | $7.304M | $5.582M |
YoY Change | 30.85% | 17.37% |
Gross Profit Margin | 17.11% | 16.76% |
Selling, General & Admin | $7.562M | $7.348M |
YoY Change | 2.91% | 35.27% |
% of Gross Profit | 103.53% | 131.64% |
Research & Development | $2.300M | $2.800M |
YoY Change | -17.86% | 27.27% |
% of Gross Profit | 31.49% | 50.16% |
Depreciation & Amortization | $785.0K | $570.0K |
YoY Change | 37.72% | 83.87% |
% of Gross Profit | 10.75% | 10.21% |
Operating Expenses | $9.849M | $10.15M |
YoY Change | -2.93% | 32.94% |
Operating Profit | -$2.545M | -$4.564M |
YoY Change | -44.24% | 58.69% |
Interest Expense | $30.00K | $245.0K |
YoY Change | -87.76% | -66.71% |
% of Operating Profit | ||
Other Income/Expense, Net | $17.00K | -$19.00K |
YoY Change | -189.47% | -98.52% |
Pretax Income | -$2.558M | -$4.828M |
YoY Change | -47.02% | -1.43% |
Income Tax | $14.00K | $108.0K |
% Of Pretax Income | ||
Net Earnings | -$2.600M | -$4.900M |
YoY Change | -46.94% | -0.26% |
Net Earnings / Revenue | -6.09% | -14.71% |
Basic Earnings Per Share | ||
Diluted Earnings Per Share | -$92.86K | -$179.5K |
COMMON SHARES | ||
Basic Shares Outstanding | 28.40M shares | 28.09M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2016 Q1 | 2015 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $43.10M | $53.80M |
YoY Change | -19.89% | 110.98% |
Cash & Equivalents | $17.53M | $32.49M |
Short-Term Investments | $25.60M | $21.30M |
Other Short-Term Assets | $2.000M | $1.400M |
YoY Change | 42.86% | 27.27% |
Inventory | ||
Prepaid Expenses | ||
Receivables | $8.500M | $7.800M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $53.60M | $63.06M |
YoY Change | -15.01% | 82.25% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $9.587M | $8.618M |
YoY Change | 11.24% | 105.19% |
Goodwill | ||
YoY Change | ||
Intangibles | $4.865M | $4.831M |
YoY Change | 0.7% | |
Long-Term Investments | $296.0K | $900.0K |
YoY Change | -67.11% | 0.0% |
Other Assets | $38.00K | $16.00K |
YoY Change | 137.5% | -99.64% |
Total Long-Term Assets | $17.28M | $14.40M |
YoY Change | 19.97% | -0.01% |
TOTAL ASSETS | ||
Total Short-Term Assets | $53.60M | $63.06M |
Total Long-Term Assets | $17.28M | $14.40M |
Total Assets | $70.87M | $77.46M |
YoY Change | -8.5% | 58.08% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.027M | $1.438M |
YoY Change | -28.58% | -40.08% |
Accrued Expenses | $2.988M | $3.560M |
YoY Change | -16.07% | 31.85% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | -100.0% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $23.63M | $20.94M |
YoY Change | 12.84% | -23.57% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $968.0K | $0.00 |
YoY Change | -100.0% | |
Other Long-Term Liabilities | $531.0K | $102.0K |
YoY Change | 420.59% | -79.6% |
Total Long-Term Liabilities | $1.499M | $102.0K |
YoY Change | 1369.61% | -99.6% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $23.63M | $20.94M |
Total Long-Term Liabilities | $1.499M | $102.0K |
Total Liabilities | $26.56M | $22.54M |
YoY Change | 17.84% | -58.64% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$76.96M | -$62.12M |
YoY Change | 23.89% | |
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $2.601M | $2.601M |
YoY Change | 0.0% | |
Treasury Stock Shares | ||
Shareholders Equity | $44.31M | $54.92M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $70.87M | $77.46M |
YoY Change | -8.5% | 58.08% |
Cashflow Statement
Concept | 2016 Q1 | 2015 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$2.600M | -$4.900M |
YoY Change | -46.94% | -0.26% |
Depreciation, Depletion And Amortization | $785.0K | $570.0K |
YoY Change | 37.72% | 83.87% |
Cash From Operating Activities | -$1.298M | -$4.908M |
YoY Change | -73.55% | 24.16% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $653.0K | $1.590M |
YoY Change | -58.93% | 56.5% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$290.0K | $1.040M |
YoY Change | -127.88% | -7.96% |
Cash From Investing Activities | -$946.0K | -$551.0K |
YoY Change | 71.69% | -575.0% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $1.473M | -$14.92M |
YoY Change | -109.87% | 2390.32% |
NET CHANGE | ||
Cash From Operating Activities | -$1.298M | -$4.908M |
Cash From Investing Activities | -$946.0K | -$551.0K |
Cash From Financing Activities | $1.473M | -$14.92M |
Net Change In Cash | -$771.0K | -$20.38M |
YoY Change | -96.22% | 359.33% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.298M | -$4.908M |
Capital Expenditures | $653.0K | $1.590M |
Free Cash Flow | -$1.951M | -$6.498M |
YoY Change | -69.98% | 30.77% |
Facts In Submission
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---|---|---|---|---|
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2016 | |
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2016-03-31 | |
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Document Type
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10-Q | |
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CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
23617000 | USD |
CY2016Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
23632000 | USD |
CY2015Q4 | us-gaap |
Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
|
6274000 | USD |
CY2016Q1 | us-gaap |
Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
|
6854000 | USD |
CY2016Q1 | us-gaap |
Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
|
greater of 4.5% or 1.25% plus the prime rate | |
CY2015Q4 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
20000000 | USD |
CY2016Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
20000000 | USD |
CY2016Q1 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
17400000 | USD |
CY2016Q1 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
1000000 | USD |
CY2015Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
0 | USD |
CY2016Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
968000 | USD |
CY2018 | us-gaap |
Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
|
100000 | USD |
CY2016 | us-gaap |
Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
|
1300000 | USD |
CY2017 | us-gaap |
Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
|
300000 | USD |
CY2015Q4 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
400000 | USD |
CY2016Q1 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
400000 | USD |
CY2015Q4 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
2388000 | USD |
CY2016Q1 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
2489000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-14917000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1473000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-551000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-946000 | USD |
CY2015Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4908000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1298000 | USD |
CY2015Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-4936000 | USD |
CY2016Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2572000 | USD |
CY2015Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
10146000 | USD |
CY2016Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
9849000 | USD |
CY2015Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4564000 | USD |
CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2545000 | USD |
CY2015Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
23000 | USD |
CY2016Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
38000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-129000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
289000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-137000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
291000 | USD |
CY2015Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-8000 | USD |
CY2016Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
2000 | USD |
CY2015Q1 | us-gaap |
Other Cost Of Services
OtherCostOfServices
|
4377000 | USD |
CY2016Q1 | us-gaap |
Other Cost Of Services
OtherCostOfServices
|
4791000 | USD |
CY2015Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
654000 | USD |
CY2016Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
809000 | USD |
CY2015Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
511000 | USD |
CY2016Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
531000 | USD |
CY2015Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-19000 | USD |
CY2016Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
17000 | USD |
CY2015Q1 | us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
0 | USD |
CY2016Q1 | us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
34000 | USD |
CY2015Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
384000 | USD |
CY2016Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
0 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
|
3206000 | USD |
CY2016Q1 | us-gaap |
Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
|
3959000 | USD |
CY2015Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1590000 | USD |
CY2016Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
653000 | USD |
CY2015Q4 | us-gaap |
Preferred Stock Value Outstanding
PreferredStockValueOutstanding
|
0 | USD |
CY2016Q1 | us-gaap |
Preferred Stock Value Outstanding
PreferredStockValueOutstanding
|
0 | USD |
CY2015Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
2193000 | USD |
CY2016Q1 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
2038000 | USD |
CY2015Q1 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-14900000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
987000 | USD |
CY2015Q1 | us-gaap |
Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
|
4245000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
|
3700000 | USD |
CY2015Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
367000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
486000 | USD |
CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
9719000 | USD |
CY2016Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
9587000 | USD |
CY2015Q1 | us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
0 | USD |
CY2016Q1 | us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
0 | USD |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-74385000 | USD |
CY2016Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-76957000 | USD |
CY2015Q1 | us-gaap |
Revenues
Revenues
|
33310000 | USD |
CY2016Q1 | us-gaap |
Revenues
Revenues
|
42699000 | USD |
CY2015Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
3651000 | USD |
CY2016Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
3840000 | USD |
CY2015Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
703000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
696000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1170000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
6.73 | |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
112050 | shares |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
180373 | shares |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
29644000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
28655000 | USD |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4871949 | shares |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4760535 | shares |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.71 | |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.87 | |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
26045000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
3523513 | shares |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
2.48 | |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.74 | |
CY2016Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
8.62 | |
CY2015Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
703000 | USD |
CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
696000 | USD |
CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
1199911 | shares |
CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y0M2D | |
CY2015Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
25288000 | USD |
CY2016Q1 | us-gaap |
Short Term Investments
ShortTermInvestments
|
25567000 | USD |
CY2016Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
179737 | shares |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
45356000 | USD |
CY2016Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
44308000 | USD |
CY2015Q1 | us-gaap |
Technology Services Costs
TechnologyServicesCosts
|
2798000 | USD |
CY2016Q1 | us-gaap |
Technology Services Costs
TechnologyServicesCosts
|
2287000 | USD |
CY2015Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2601000 | USD |
CY2016Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2601000 | USD |
CY2015Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27337302 | shares |
CY2016Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27999248 | shares |
CY2016Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Operations and Summary of Significant Accounting Policies</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Trupanion, Inc. (collectively with its wholly-owned subsidiaries, the Company) provides medical insurance plans for cats and dogs throughout the United States, Canada and Puerto Rico.</font></div><div style="line-height:120%;padding-top:6px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation</font><font style="font-family:inherit;font-size:12pt;"> </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated balance sheet data as of December 31, 2015 was derived from audited consolidated financial statements. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for unaudited consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited consolidated financial statements and notes should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K, filed with the U.S Securities and Exchange Commission on February 17, 2016. The accompanying unaudited consolidated financial statements reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the Company’s financial position and results of its operations, as of and for the periods presented. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016, or for any other period.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies and the reported amounts of revenue and expenses. Significant items subject to such estimates and assumptions include the valuation of deferred tax assets, stock-based compensation, claims reserve, useful lives of software developed for internal use and income tax uncertainties. Actual results could differ from the estimates used in preparing the consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accumulated Other Comprehensive Loss</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> reclassifications out of accumulated other comprehensive loss during the three months ended March 31, 2016 and 2015.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2015, the FASB issued an ASU amending short-term insurance contract disclosures and requiring more detailed disclosures to enable users of financial statements to understand information relating to liabilities for unpaid claims and claims adjustment expenses. Additionally, the amendments will also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate these liabilities. This guidance is effective for annual reporting periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. Early adoption of this guidance is permitted, and must be applied retrospectively by providing comparative disclosures for each period presented. The Company plans to adopt this guidance as of January 1, 2016. The Company is in the process of assessing the impact of this guidance.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued an ASU amending the accounting for income taxes and requiring all deferred tax assets and liabilities be classified as non-current on the consolidated balance sheet. The ASU is effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The ASU may be adopted either prospectively or retrospectively. The Company plans to prospectively adopt this guidance as of January 1, 2017. The Company is in the process of assessing the impact of this guidance.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued an ASU amending the lease presentation guidance. The ASU requires organizations that lease assets to recognize the rights and obligations created by those leases on the balance sheet. This ASU is effective for fiscal years beginning after December 15, 2018 including interim periods within that reporting period, with early adoption permitted. The Company plans to adopt this guidance as of January 1, 2019. The Company is in the process of assessing the impact of this guidance.</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued an ASU amending the accounting for employee share-based payments, including income tax recognition and classification. The entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. Additionally, tax withholding of shares will be allowed to be up to the employees’ maximum individual tax rate in the relevant jurisdiction without resulting in liability classification of the award. This ASU is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period, with early adoption permitted. The Company plans to adopt this guidance as of January 1, 2017. The Company is in the process of assessing the impact of this guidance.</font></div></div> | |
CY2016Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingencies and the reported amounts of revenue and expenses. Significant items subject to such estimates and assumptions include the valuation of deferred tax assets, stock-based compensation, claims reserve, useful lives of software developed for internal use and income tax uncertainties. Actual results could differ from the estimates used in preparing the consolidated financial statements.</font></div></div> |