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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | 12. Quarterly Financial Data (Unaudited) The following is a summary of the unaudited quarterly results for the years ended September 30, 2019 and 2018 (in thousands, except per share data).
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Fiscal 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 22,241 |  |  | $ | 22,676 |  |  | $ | 24,344 |  |  | $ | 30,816 |
Operating income |  |  | 712 |  |  |  | 865 |  |  |  | 1,017 |  |  |  | 3,875 |
Net income |  |  | 1,310 |  |  |  | 1,262 |  |  |  | 1,466 |  |  |  | 3,554 |
Basic net income per share (1): |  |  | 0.10 |  |  |  | 0.09 |  |  |  | 0.11 |  |  |  | 0.27 |
Diluted net income per share (1): |  |  | 0.09 |  |  |  | 0.09 |  |  |  | 0.11 |  |  |  | 0.26 |
Fiscal 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 17,013 |  |  | $ | 19,058 |  |  | $ | 22,227 |  |  | $ | 23,038 |
Operating (loss) income |  |  | (633 | ) |  |  | 525 |  |  |  | (6,250 | ) |  |  | (2,441 | )
Net (loss) income |  |  | (1,556 | ) |  |  | 1,534 |  |  |  | (2,682 | ) |  |  | (1,753 | )
Basic net (loss) income per share (1): |  |  | (0.12 | ) |  |  | 0.12 |  |  |  | (0.20 | ) |  |  | (0.13 | )
Diluted net (loss) income per share (1): |  |  | (0.12 | ) |  |  | 0.11 |  |  |  | (0.20 | ) |  |  | (0.13 | )
| (1) | The sum of the quarterly net income (loss) per share amounts may not equal the annual income per share total because of changes in the weighted average number of shares outstanding that occurred during the year.
In the third quarter of fiscal 2019, the Company recorded royalty revenue from the extension of a customer license agreement totaling $1.0 million. In July 2019, the Company acquired certain technology assets resulting in a $0.9 million charge in the fourth quarter of fiscal 2019. In the August 2019, the Company achieved a clinical milestone related to its agreement with Abbott, which resulted in the receipt of a $10 million payment, of which $5.1 million was recognized as revenue for the quarter. In the first quarter of fiscal 2018, the Company recorded a $1.2 million charge related to the revaluation of deferred tax assets to reflect the change in the U.S. Federal tax rate from 35% to 21% in conjunction with the Tax Cuts and Jobs Act tax legislation. In the second quarter of fiscal 2018, the Company entered into a collaborative arrangement with Abbott, which resulted in license fee revenue totaling $4.4 million in the final nine months of the fiscal year. In May 2018, the Company acquired certain technology assets from Embolitech resulting in a $7.9 million charge in the third quarter of fiscal 2018.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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