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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2018
Summary of Significant Accounting Policies |
Schedule of accounts receivable net | Accounts receivable, net consisted of the following (in thousands):
|  | June 30, |  | December 31,
|  | 2018 |  | 2017
Trade accounts receivable |  | $ | 5,408 |  | $ | 4,188
Unbilled accounts receivable |  |  | 289 |  |  | —
Allowance for accounts receivable |  |  | (600) |  |  | (147)
Accounts receivable, net |  | $ | 5,097 |  | $ | 4,041
Schedule of Revenue and Accounts Receivable for Each Significant Customer |
|  | Revenue |  | Revenue |  | Accounts Receivable, net |  |
|  | Three Months Ended |  | Six Months Ended |  | As of |  | As of |  |
|  | June 30, |  | June 30, |  | June 30, |  | December 31, |  |
Customers |  | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017 |  |
Customer A |  | * |  | * |  | 20 | % | * |  | * |  | * |  |
Customer B |  | 14 | % | 17 | % | 14 | % | 14 | % | * |  | * |  |
Customer C |  | * |  | 15 | % | * |  | 16 | % | * |  | * |  |
Customer D |  | 19 | % | * |  | 13 | % | * |  | 17 | % | 11 | % |
Customer E |  | * |  | * |  | * |  | 11 | % | * |  | 10 | % |
Customer F |  | * |  | * |  | * |  | * | % | * |  | 15 | % |
*Less than 10%
Schedule of Fair Value of Financial Assets Measured on Recurring Basis | The following tables sets forth the fair value of the Company’s financial assets measured at fair value on a recurring basis (in thousands):
|  | June 30, 2018
|  | Level 1 |  | Level 2 |  | Level 3 |  |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 32,856 |  | $ | — |  | $ | — |  | $ | 32,856
Total assets measured at fair value |  | $ | 32,856 |  | $ | — |  | $ | — |  | $ | 32,856
|  | December 31, 2017
|  | Level 1 |  | Level 2 |  | Level 3 |  |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 13,369 |  | $ | — |  | $ | — |  | $ | 13,369
Total assets measured at fair value |  | $ | 13,369 |  | $ | — |  | $ | — |  | $ | 13,369
Schedule of impact of adopting Topic 606 | The following table summarizes the impact of adopting Topic 606 on select unaudited condensed balance sheet line items (in thousands):
|  |  |  |  |  | Balances without
|  |  |  |  |  | the adoption of
June 30, 2018 |  | As restated |  | Adjustments |  | Topic 606
Accounts receivable, net |  | $ | 5,097 |  | $ | (524) |  | $ | 4,573
Inventory |  |  | 8,851 |  |  | 47 |  |  | 8,898
Total current assets |  |  | 47,898 |  |  | (477) |  |  | 47,421
Total assets |  |  | 51,564 |  |  | (477) |  |  | 51,087
Deferred income on shipments to distributors |  |  | — |  |  | 2,151 |  |  | 2,151
Total current liabilities |  |  | 15,215 |  |  | 2,151 |  |  | 17,366
Total liabilities |  |  | 20,581 |  |  | 2,151 |  |  | 22,732
Accumulated deficit |  |  | (124,885) |  |  | (2,628) |  |  | (127,513)
Total liabilities and stockholders’ equity |  |  | 51,564 |  |  | (477) |  |  | 51,087
The following table summarizes the impact of adopting Topic 606 on select unaudited condensed statement of operations line items (in thousands, except per share data):
|  |  |  |  |  | Balances without
|  |  |  |  |  | the adoption of
Three Months Ended June 30, 2018 |  | As restated |  | Adjustments |  | Topic 606
Product sales |  | $ | 9,449 |  | $ | (586) |  | $ | 8,863
Licensing, royalty, and other revenue |  |  | 1,316 |  |  | (126) |  |  | 1,190
Total revenue |  |  | 10,765 |  |  | (712) |  |  | 10,053
Cost of sales |  |  | 6,229 |  |  | 107 |  |  | 6,336
Gross profit |  |  | 4,536 |  |  | (819) |  |  | 3,717
Loss from operations |  |  | (7,279) |  |  | (819) |  |  | (8,098)
Net loss and comprehensive loss |  |  | (7,369) |  |  | (819) |  |  | (8,188)
Net loss per common share, basic and diluted |  |  | (0.44) |  |  | (0.05) |  |  | (0.49)
|  |  |  |  |  | Balances without
|  |  |  |  |  | the adoption of
Six Months Ended June 30, 2018 |  | As restated |  | Adjustments |  | Topic 606
Product sales |  | $ | 18,814 |  | $ | (1,418) |  | $ | 17,396
Licensing, royalty, and other revenue |  |  | 6,804 |  |  | (97) |  |  | 6,707
Total revenue |  |  | 25,618 |  |  | (1,515) |  |  | 24,103
Cost of sales |  |  | 11,127 |  |  | (187) |  |  | 10,940
Gross profit |  |  | 14,491 |  |  | (1,328) |  |  | 13,163
Loss from operations |  |  | (8,389) |  |  | (1,328) |  |  | (9,717)
Net loss and comprehensive loss |  |  | (8,646) |  |  | (1,328) |  |  | (9,974)
Net loss per common share, basic and diluted |  |  | (0.55) |  |  | (0.08) |  |  | (0.63)
The following table summarizes the impact of adopting Topic 606 on select unaudited condensed statement of cash flows line items (in thousands):
|  |  |  |  |  | Balances without
|  |  |  |  |  | the adoption of
Six Months Ended June 30, 2018 |  | As restated |  | Adjustments |  | Topic 606
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Net loss |  | $ | (8,646) |  | $ | (1,328) |  | $ | (9,974)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Accounts receivable |  |  | (1,391) |  |  | 859 |  |  | (532)
Inventory |  |  | 940 |  |  | (1) |  |  | 939
Shipping term reversal |  |  | (39) |  |  | 470 |  |  | 431

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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