Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2019  
    Amortized     Unrealized     Market  
    Cost     Losses     Value  
U.S treasuries   $ 430     $ (3 )   $ 427  
Corporate bonds     3,808       (6 )     3,802  
    $ 4,238     $ (9 )   $ 4,229  

 

    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):

 

    March 31, 2019     December 31, 2018  
Raw materials   $ 1,096     $ 1,374  
Work in process     243       371  
Finished goods     272       158  
    $ 1,611     $ 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 March 31, 2019  
    Level 1     Level 2     Level 3     Total  
Marketable debt securities                                
U.S. government obligations   $ -     $ 427     $   -     $ 427  
Corporate obligations     -       3,802       -       3,802  
    $ -     $ 4,229     $ -     $ 4,229  

 

    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   $ 97,123  
13-24 Months     22,220  
Total   $ 119,343  

Schedule of Disaggregates by Revenue

The following table disaggregates the Company’s revenue by revenue source for the three months ended March 31, 2019 and 2018 (in thousands):

 

    For the Three Months ended  
Revenue by Customer Type   March 31, 2019     March 31, 2018  
Contract manufacturing   $ 2,124     $ 3,330  
Retail and others     194       77  
Total revenue   $ 2,318     $ 3,407