Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Summary of Components of Marketable Securities

The following is a summary of the components of our marketable debt securities and the underlying fair value input level tier hierarchy (see long-lived assets below) (in thousands):

 

    As of September 30, 2019  
    Amortized     Unrealized     Market  
    Cost     Losses     Value  
U.S treasuries   $ 553     $ (3 )   $ 550  
Corporate bonds     3,213       (3 )     3,210  
    $ 3,766     $ (6 )   $ 3,760  

 

    As of December 31, 2018  
    Amortized     Unrealized     Market  
    Cost     Losses     Value  
U.S treasuries   $ 2,401     $ (3 )   $ 2,398  
Corporate bonds     4,310       (21 )     4,289  
    $ 6,711     $ (24 )   $ 6,687  

Components of Inventory

The components of inventory are as follows (in thousands):

 

    September 30, 2019     December 31, 2018  
Raw materials   $ 1,125     $ 1,374  
Work in process     462       371  
Finished goods     299       158  
    $ 1,886     $ 1,903  

Schedule of Fair Value of Financial Instruments

We account for our marketable debt securities at fair value pursuant to GAAP, with the net unrealized gains or losses reported as a component of accumulated other comprehensive income or loss.

 

    As of September 30, 2019  
    Level 1     Level 2     Level 3     Total  
Marketable debt securities                                
U.S. government obligations   $ -     $ 550     $ -     $ 550  
Corporate obligations     -       3,210       -       3,210  
    $ -     $ 3,760     $ -     $ 3,760  

 

    As of December 31, 2018  
    Level 1     Level 2     Level 3     Total  
Marketable debt securities                                
U.S. government obligations   $ -     $ 2,398     $ -     $ 2,398  
Corporate obligations     -       4,289       -       4,289  
    $ -     $ 6,687     $ -     $ 6,687  

Schedule of Deferred Revenue

The following table disaggregates the Company’s deferred revenue by recognition period (in thousands):

 

Recognition Period   Deferred Revenue  
0-12 Months   $ 118  
13-24 Months     34  
Over 24 Months     95  
Total   $ 247  

Schedule of Disaggregation by Revenue

The following table disaggregates the Company’s revenue by revenue source for the three and nine months ended September 30, 2019 and 2018 (in thousands):

 

    For the Three Months Ended     For the Nine Months Ended  
Revenue by Customer Type   September 30, 2019     September 30, 2018     September 30, 2019     September 30, 2018  
Contract manufacturing   $ 2,517     $ 2,324     $ 6,093     $ 8,764  
Retail and others     249       115       642       269  
Total revenue   $ 2,766     $ 2,439     $ 6,735     $ 9,033