| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
Financial Statement Impact of Adopting ASC 606
The following table summarizes the changes made to the Company's unaudited Condensed Consolidated Balance Sheets as of March 31, 2018 for the adoption of ASC 606:
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|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
As reported March 31, 2018 |
|
Adjustments due to ASC 606 |
|
Adjusted as of April 1, 2018 |
Assets: |
|
|
|
|
|
Prepaid expenses and other current assets |
$ |
816 |
|
|
$ |
72 |
|
|
$ |
888 |
|
Liabilities: |
|
|
|
|
|
Accrued expenses |
3,328 |
|
|
72 |
|
|
3,400 |
|
Deferred revenue |
1,790 |
|
|
(110 |
) |
|
1,680 |
|
Deferred revenue non-current |
846 |
|
|
(219 |
) |
|
627 |
|
Stockholders' Equity: |
|
|
|
|
|
Accumulated deficit |
$ |
(329,645 |
) |
|
$ |
329 |
|
|
$ |
(329,316 |
) |
The following table summarizes the impacts of adopting ASC 606 on the Company’s unaudited Condensed Consolidated Balance Sheets as of December 31, 2018:
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|
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|
|
|
(in thousands) |
As of December 31, 2018 |
|
As reported under ASC 606 |
|
Effect of Change Increase/ (Decrease) |
|
Proforma under ASC 605 |
Assets: |
|
|
|
|
|
Prepaid expenses and other current assets |
$ |
1,169 |
|
|
$ |
(57 |
) |
|
$ |
1,112 |
|
Liabilities: |
|
|
|
|
|
Accrued expenses |
2,854 |
|
|
(57 |
) |
|
2,797 |
|
Deferred revenue |
679 |
|
|
110 |
|
|
789 |
|
Deferred revenue non-current |
514 |
|
|
137 |
|
|
651 |
|
Stockholders' Equity: |
|
|
|
|
|
Accumulated deficit |
$ |
(332,652 |
) |
|
$ |
(247 |
) |
|
$ |
(332,899 |
) |
The following table summarizes the impacts of adopting ASC 606 on the Company’s unaudited Condensed Consolidated Statement of Operations for the three and nine months ended December 31, 2018:
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|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
For the three months ended December 31, 2018 |
|
For the nine months ended December 31, 2018 |
|
As reported under ASC 606 |
|
Effect of Change Increase/ (Decrease) |
|
Proforma under ASC 605 |
|
As reported under ASC 606 |
|
Effect of Change Increase/ (Decrease) |
|
Proforma under ASC 605 |
Revenue |
$ |
10,722 |
|
|
$ |
27 |
|
|
$ |
10,749 |
|
|
$ |
33,865 |
|
|
$ |
82 |
|
|
$ |
33,947 |
|
Gross Profit |
4,590 |
|
|
27 |
|
|
4,617 |
|
|
14,718 |
|
|
82 |
|
|
14,800 |
|
Net income (loss) from continuing operations |
(1,556 |
) |
|
27 |
|
|
(1,529 |
) |
|
(3,198 |
) |
|
82 |
|
|
(3,116 |
) |
Net income (loss) |
$ |
(1,556 |
) |
|
$ |
27 |
|
|
$ |
(1,529 |
) |
|
$ |
(3,336 |
) |
|
$ |
82 |
|
|
$ |
(3,254 |
) |
|
| Disaggregation of Revenue [Table Text Block] |
The following table disaggregates our revenue by major source:
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|
|
|
(In thousands) |
Three months ended December 31, |
|
Nine months ended December 31, |
|
2018 (under ASC 606) |
|
2017 (under ASC 605) |
|
2018 (under ASC 606) |
|
2017 (under ASC 605) |
Revenue: |
|
|
|
|
|
|
|
Products |
$ |
9,400 |
|
|
$ |
11,476 |
|
|
$ |
30,230 |
|
|
$ |
41,873 |
|
Software |
408 |
|
|
278 |
|
|
982 |
|
|
1,523 |
|
Services |
914 |
|
|
1,921 |
|
|
2,653 |
|
|
4,085 |
|
Total revenue |
$ |
10,722 |
|
|
$ |
13,675 |
|
|
$ |
33,865 |
|
|
$ |
47,481 |
|
|
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] |
The following is the expected future revenue recognition timing of deferred revenue as of December 31, 2018:
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|
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|
|
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|
(in thousands) |
< 1 year |
|
1-2 years |
|
> 2 years |
Deferred Revenue |
$ |
679 |
|
|
$ |
283 |
|
|
$ |
231 |
|
During the nine months ended December 31, 2018, the Company recognized $1.6 million of revenue that was deferred as of the beginning of the period.
|