Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

The following table presents selected unaudited quarterly financial data for each full quarterly period of 2020 and 2019:



(in thousands)	Mar. 30, 2019			Jun. 29, 2019			Sep. 28, 2019			Dec. 31, 2019			Mar. 30, 2020			Jun. 27, 2020			Sep. 26, 2020			Dec. 31, 2020
Net revenues	$	40,206		$	67,251		$	91,961		$	98,479		$	97,074		$	113,338		$	94,436		$	101,937
Cost of goods sold	29,435			44,510			59,178			65,018			59,383			79,687			68,908			76,532
Gross profit	10,771			22,741			32,783			33,461			37,691			33,651			25,528			25,405
Gross margin	26.8		%	33.8		%	35.6		%	34.0		%	38.8		%	29.7		%	27.0		%	24.9		%
Research and development expenses	4,498			4,212			5,951			5,989			6,194			6,016			8,278			11,047
Selling, general and administrative expenses	11,177			15,515			20,944			27,090			27,315			34,292			33,560			38,488
Restructuring expenses	394			847			2,319			1,309			2,373			1,509			2,146			402
Total operating expenses	16,069			20,574			29,214			34,388			35,882			41,817			43,984			49,937
(Loss) income from operations	(5,298)			2,167			3,569			(927)			1,809			(8,166)			(18,456)			(24,532)
Other (expense) income:
Interest expense	(733)			(741)			(855)			(742)			(705)			(569)			(689)			(613)
Remeasurement of warrant liability	(759)			(11,744)			—			—			—			—			—			—
Other, net	141			898			1,385			1,205			710			(1,454)			(85)			70
Total other (expense) income, net	(1,351)			(11,587)			530			463			5			(2,023)			(774)			(543)
(Loss) income before taxes	(6,649)			(9,420)			4,099			(464)			1,814			(10,189)			(19,230)			(25,075)
Income tax expense (benefit)	—			21			—			(12)			(1)			16			55			2
Net (loss) income	$	(6,649)		$	(9,441)		$	4,099		$	(452)		$	1,815		$	(10,205)		$	(19,285)		$	(25,077)
Net (loss) income per share available to common stockholders:
Basic	$	(0.95)		$	(0.24)		$	0.07		$	(0.01)		$	0.03		$	(0.16)		$	(0.31)		$	(0.40)
Diluted	$	(0.95)		$	(0.24)		$	0.06		$	(0.01)		$	0.03		$	(0.16)		$	(0.31)		$	(0.40)

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(1)The sum of quarterly amounts, including per share amounts, may not equal amounts reported for year-to-date periods. This is due to the effects of rounding and changes in the number of weighted-average shares outstanding for each period.