Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 01, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | PDF SOLUTIONS INC | |
Entity Central Index Key | 0001120914 | |
Trading Symbol | pdfs | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 32,442,624 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 86,817 | $ 96,089 |
Accounts receivable, net of allowance for doubtful accounts of $332 in 2019 and 2018 | 52,381 | 51,570 |
Prepaid expenses and other current assets | 8,843 | 9,562 |
Total current assets | 148,041 | 157,221 |
Property and equipment, net | 35,846 | 35,681 |
Operating lease right-of-use assets, net | 7,974 | |
Goodwill | 2,293 | 1,923 |
Intangible assets, net | 6,855 | 5,064 |
Deferred tax assets | 21,378 | 19,044 |
Other non-current assets | 7,284 | 6,972 |
Total assets | 229,671 | 225,905 |
Current liabilities: | ||
Accounts payable | 1,813 | 2,454 |
Accrued compensation and related benefits | 5,158 | 4,727 |
Accrued and other current liabilities | 2,404 | 3,235 |
Operating lease liabilities – current portion | 1,875 | |
Deferred revenues – current portion | 9,026 | 8,477 |
Billings in excess of recognized revenues | 1,088 | 635 |
Total current liabilities | 21,364 | 19,528 |
Long-term income taxes payable | 3,571 | 3,751 |
Non-current operating lease liabilities | 8,107 | |
Other non-current liabilities | 1,737 | 2,831 |
Total liabilities | 34,779 | 26,110 |
Commitments and contingencies (Note 13) | ||
Stockholders’ equity: | ||
Preferred stock, $0.00015 par value, 5,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $0.00015 par value, 70,000 shares authorized: shares issued 41,326 and 40,677, respectively; shares outstanding 32,291 and 32,382, respectively | 5 | 5 |
Additional paid-in-capital | 318,356 | 310,660 |
Treasury stock at cost, 9,035 and 8,295 shares, respectively | (88,324) | (79,142) |
Accumulated deficit | (33,853) | (30,452) |
Accumulated other comprehensive loss | (1,292) | (1,276) |
Total stockholders’ equity | 194,892 | 199,795 |
Total liabilities and stockholders’ equity | $ 229,671 | $ 225,905 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts receivable, allowance | $ 332 | $ 332 |
Preferred stock, par value (in dollars per share) | $ 0.00015 | $ 0.00015 |
Preferred stock, shares authorized (in shares) | 5,000 | 5,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00015 | $ 0.00015 |
Common stock, shares authorized (in shares) | 70,000 | 70,000 |
Common stock, shares issued (in shares) | 41,326 | 40,677 |
Common stock, shares outstanding (in shares) | 32,291 | 32,382 |
Treasury stock, shares (in shares) | 9,035 | 8,295 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues: | ||||
Revenues | $ 20,568 | $ 21,119 | $ 41,109 | $ 45,856 |
Cost of Solutions | ||||
Direct costs of s Solutions | 7,689 | 10,774 | 15,413 | 22,112 |
Amortization of acquired technology | 143 | 143 | 287 | 287 |
Total cost of solutions | 7,832 | 10,917 | 15,700 | 22,399 |
Gross profit | 12,736 | 10,202 | 25,409 | 23,457 |
Operating expenses: | ||||
Research and development | 7,312 | 7,100 | 15,558 | 14,345 |
Selling, general and administrative | 6,940 | 5,919 | 13,950 | 12,294 |
Amortization of other acquired intangible assets | 154 | 108 | 262 | 217 |
Restructuring charges | 92 | |||
Total operating expenses | 14,406 | 13,127 | 29,862 | 26,856 |
Loss from operations | (1,670) | (2,925) | (4,453) | (3,399) |
Interest and other income (expense), net | 111 | 390 | 105 | 59 |
Loss before income taxes | (1,559) | (2,535) | (4,348) | (3,340) |
Income tax benefit | (849) | (439) | (947) | (820) |
Net loss | $ (710) | $ (2,096) | $ (3,401) | $ (2,520) |
Net loss per share: | ||||
Basic (in dollars per share) | $ (0.02) | $ (0.07) | $ (0.10) | $ (0.08) |
Diluted (in dollars per share) | $ (0.02) | $ (0.07) | $ (0.10) | $ (0.08) |
Weighted average common shares: | ||||
Basic (in shares) | 32,339 | 31,962 | 32,412 | 32,065 |
Diluted (in shares) | 32,339 | 31,962 | 32,412 | 32,065 |
Net loss | $ (710) | $ (2,096) | $ (3,401) | $ (2,520) |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments, net of tax | 36 | (771) | (16) | (246) |
Comprehensive loss | (674) | (2,867) | (3,417) | (2,766) |
Solutions [Member] | ||||
Revenues: | ||||
Revenues | 13,429 | 15,266 | 30,090 | 33,456 |
Gainshare Performance Incentives [Member] | ||||
Revenues: | ||||
Revenues | $ 7,139 | $ 5,853 | $ 11,019 | $ 12,400 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2017 | 32,112 | 7,688 | ||||
Balances at Dec. 31, 2017 | $ 5 | $ 297,950 | $ (71,793) | $ (27,089) | $ (705) | $ 198,368 |
Issuance of common stock in connection with employee stock purchase plan (in shares) | 108 | |||||
Issuance of common stock in connection with employee stock purchase plan | 1,007 | 1,007 | ||||
Issuance of common stock in connection with exercise of options (in shares) | 8 | |||||
Issuance of common stock in connection with exercise of options | 39 | 39 | ||||
Vesting of restricted stock units (in shares) | 74 | |||||
Vesting of restricted stock units | ||||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | 36 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (557) | (557) | ||||
Repurchases of common stock (in shares) | (338) | (338) | ||||
Repurchases of common stock | $ (4,123) | (4,123) | ||||
Repurchases of common stock (in shares) | 338 | 338 | ||||
Stock-based compensation | 2,871 | 2,871 | ||||
Comprehensive income (loss) | (424) | 525 | 101 | |||
Cumulative-effect adjustment from adoption of ASU 2014-09 at Dec. 31, 2017 | 4,353 | 4,353 | ||||
Balances (in shares) at Mar. 31, 2018 | 31,964 | 8,062 | ||||
Balances at Mar. 31, 2018 | $ 5 | 301,867 | $ (76,473) | (23,160) | (180) | 202,059 |
Balances (in shares) at Dec. 31, 2017 | 32,112 | 7,688 | ||||
Balances at Dec. 31, 2017 | $ 5 | 297,950 | $ (71,793) | (27,089) | (705) | 198,368 |
Comprehensive income (loss) | (2,766) | |||||
Cumulative-effect adjustment from adoption of ASU 2014-09 at Dec. 31, 2017 | 4,353 | 4,353 | ||||
Balances (in shares) at Jun. 30, 2018 | 32,075 | 8,224 | ||||
Balances at Jun. 30, 2018 | $ 5 | 304,943 | $ (78,417) | (25,256) | (951) | 200,324 |
Balances (in shares) at Mar. 31, 2018 | 31,964 | 8,062 | ||||
Balances at Mar. 31, 2018 | $ 5 | 301,867 | $ (76,473) | (23,160) | (180) | 202,059 |
Issuance of common stock in connection with employee stock purchase plan (in shares) | ||||||
Issuance of common stock in connection with employee stock purchase plan | ||||||
Issuance of common stock in connection with exercise of options (in shares) | 51 | |||||
Issuance of common stock in connection with exercise of options | 377 | 377 | ||||
Vesting of restricted stock units (in shares) | 159 | |||||
Vesting of restricted stock units | ||||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | 63 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (819) | (819) | ||||
Repurchases of common stock (in shares) | (99) | (99) | ||||
Repurchases of common stock | $ (1,125) | (1,125) | ||||
Repurchases of common stock (in shares) | 99 | 99 | ||||
Stock-based compensation | 2,699 | 2,699 | ||||
Comprehensive income (loss) | (2,096) | (771) | (2,867) | |||
Balances (in shares) at Jun. 30, 2018 | 32,075 | 8,224 | ||||
Balances at Jun. 30, 2018 | $ 5 | 304,943 | $ (78,417) | (25,256) | (951) | 200,324 |
Balances (in shares) at Dec. 31, 2018 | 32,382 | 8,295 | ||||
Balances at Dec. 31, 2018 | $ 5 | 310,660 | $ (79,142) | (30,452) | (1,276) | 199,795 |
Issuance of common stock in connection with employee stock purchase plan (in shares) | 87 | |||||
Issuance of common stock in connection with employee stock purchase plan | 782 | 782 | ||||
Issuance of common stock in connection with exercise of options (in shares) | 87 | |||||
Issuance of common stock in connection with exercise of options | 518 | 518 | ||||
Vesting of restricted stock units (in shares) | 104 | |||||
Vesting of restricted stock units | ||||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | 54 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (557) | (557) | ||||
Repurchases of common stock (in shares) | (314) | (314) | ||||
Repurchases of common stock | $ (3,917) | (3,917) | ||||
Repurchases of common stock (in shares) | 314 | 314 | ||||
Stock-based compensation | 3,469 | 3,469 | ||||
Comprehensive income (loss) | (2,691) | (52) | (2,743) | |||
Balances (in shares) at Mar. 31, 2019 | 32,346 | 8,663 | ||||
Balances at Mar. 31, 2019 | $ 5 | 315,429 | $ (83,616) | (33,143) | (1,328) | 197,347 |
Balances (in shares) at Dec. 31, 2018 | 32,382 | 8,295 | ||||
Balances at Dec. 31, 2018 | $ 5 | 310,660 | $ (79,142) | (30,452) | (1,276) | $ 199,795 |
Issuance of common stock in connection with exercise of options (in shares) | 156 | |||||
Comprehensive income (loss) | $ (3,417) | |||||
Balances (in shares) at Jun. 30, 2019 | 32,291 | 9,035 | ||||
Balances at Jun. 30, 2019 | $ 5 | 318,356 | $ (88,324) | (33,853) | (1,292) | 194,892 |
Balances (in shares) at Mar. 31, 2019 | 32,346 | 8,663 | ||||
Balances at Mar. 31, 2019 | $ 5 | 315,429 | $ (83,616) | (33,143) | (1,328) | 197,347 |
Issuance of common stock in connection with employee stock purchase plan (in shares) | ||||||
Issuance of common stock in connection with employee stock purchase plan | ||||||
Issuance of common stock in connection with exercise of options (in shares) | 69 | |||||
Issuance of common stock in connection with exercise of options | 326 | 326 | ||||
Vesting of restricted stock units (in shares) | 176 | |||||
Vesting of restricted stock units | ||||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants (in shares) | 72 | |||||
Purchases of treasury stock in connection with tax withholdings on restricted stock grants | $ (918) | (918) | ||||
Repurchases of common stock (in shares) | 300 | (300) | ||||
Repurchases of common stock | $ (3,790) | (3,790) | ||||
Repurchases of common stock (in shares) | (300) | 300 | ||||
Stock-based compensation | 2,601 | 2,601 | ||||
Comprehensive income (loss) | (710) | 36 | (674) | |||
Balances (in shares) at Jun. 30, 2019 | 32,291 | 9,035 | ||||
Balances at Jun. 30, 2019 | $ 5 | $ 318,356 | $ (88,324) | $ (33,853) | $ (1,292) | $ 194,892 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating activities: | ||
Net loss | $ (3,401) | $ (2,520) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 2,634 | 2,531 |
Stock-based compensation expense | 5,910 | 5,557 |
Amortization of acquired intangible assets | 549 | 505 |
Amortization of costs capitalized to obtain revenue contracts | 227 | 179 |
Deferred taxes | (2,423) | (1,701) |
Loss on disposal of property and equipment | 130 | 3 |
Reversal of allowance for doubtful accounts | (42) | |
Unrealized loss (gain) on foreign currency forward contract | (55) | 47 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (811) | 4,479 |
Prepaid expenses and other current assets | 491 | (1,383) |
Other non-current assets | (181) | 1,597 |
Accounts payable | 188 | (992) |
Accrued compensation and related benefits | 433 | (818) |
Accrued and other liabilities | (367) | (475) |
Deferred revenues | 1,189 | 2,745 |
Billings in excess of recognized revenues | 453 | 7 |
Net cash provided by operating activities | 4,966 | 9,719 |
Investing activities: | ||
Proceeds from the sale of property and equipment | 50 | |
Purchases of property and equipment | (4,054) | (4,810) |
Payment for business acquisition | (2,660) | |
Net cash used in investing activities | (6,664) | (4,810) |
Financing activities: | ||
Proceeds from exercise of stock options | 844 | 416 |
Proceeds from employee stock purchase plan | 782 | 1,007 |
Repurchases of common stock | (7,707) | (5,248) |
Payments for taxes related to net share settlement of equity awards | (1,475) | (1,376) |
Net cash used in financing activities | (7,556) | (5,201) |
Effect of exchange rate changes on cash and cash equivalents | (18) | (59) |
Net change in cash and cash equivalents | (9,272) | (351) |
Cash and cash equivalents, beginning of period | 96,089 | 101,267 |
Cash and cash equivalents, end of period | 86,817 | 100,916 |
Supplemental disclosure of cash flow information: | ||
Cash paid during the period for taxes | 887 | 1,104 |
Cash paid for amounts included in the measurement of operating lease liabilities | 781 | |
Stock-based compensation capitalized as software development costs | 168 | |
Property and equipment received and accrued in accounts payable and accrued and other liabilities | $ 859 | $ 1,673 |
Note 1 -Basis of Presentation a
Note 1 -Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Basis of Presentation The interim unaudited condensed consolidated financial statements included herein have been prepared by PDF Solutions, Inc. (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including the instructions to the Quarterly Report on Form 10 -Q and Article 10 of Regulation S- X. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. The interim unaudited condensed consolidated financial statements reflect, in the opinion of management, all adjustments necessary (consisting only of normal recurring adjustments), to present a fair statement of results for the interim periods presented. The operating results for any interim period are not necessarily indicative of the results that may be expected for other interim periods or the full fiscal year. The accompanying interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto in the Company’s Annual Report on Form 10 -K for the year ended December 31, 2018. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after the elimination of all intercompany balances and transactions. The condensed consolidated balance sheet at December 31, 2018, has been derived from the audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include revenue recognition, impairment of goodwill and long-lived assets, accounting for stock-based compensation expense, and income taxes. Actual results could differ from those estimates. Reclassification of Prior Period Amount Certain prior period amounts have been reclassified to conform to current year presentation of reporting amortization of costs capitalized to obtain revenue contracts on the Condensed Consolidated Statements of Cash Flows. This reclassification had no effect on the Company’s reported net loss or net cash provided by operating activities. Recently Adopted Accounting Standards Leases In February 2016, the Financial Accounting Standards Board (or FASB) issued Accounting Standards Update (ASU) 2016 - 02, Leases (Topic 842 ) and subsequent amendments to the initial guidance: ASU 2017 - 13, ASU 2018 - 10, ASU 2018 - 11, ASU 2018 - 20 and ASU 2019 - 01 (collectively, Topic 842 ). Topic 842 aims to increase transparency and comparability among organizations by requiring lessees to recognize leases with a term greater than 12 months as a right-of-use asset (“ROU”) and corresponding lease liabilities on the balance sheet, regardless of lease classification, and requiring disclosure of key information about leasing arrangements. The lease liability should be initially measured at the present value of the remaining contractual lease payments. Subsequently, the ROU assets will be amortized generally on a straight-line basis over the lease term, and the lease liability will bear interest expense and be reduced for lease payments. Topic 842 became effective for public companies’ financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective application is required with an option to not restate comparative periods in the period of adoption. The Company adopted Topic 842 on January 1, 2019 using the modified retrospective approach, and financial information for the comparative period was not updated. In addition, the Company elected the transition package of three practical expedients which allow companies not to reassess (i) whether agreements contain leases, (ii) the classification of leases, and (iii) the capitalization of initial direct costs. Further, the Company elected to not separate lease and non-lease components for all of its leases. The Company also made an accounting policy election to recognize lease expense for leases with a term of 12 months or less on a straight-line basis over the lease term and recognize no right of use asset or lease liability for those leases. The Company’s lease portfolio consists primarily of real estate assets, which include administrative and sales offices, and its research and development laboratory and clean room. Some of these leases also require the Company to pay maintenance, utilities, taxes, insurance, and other operating expenses associated with the leased space. Based upon the nature of the items leased and the structure of the leases, the Company’s leases are classified as operating leases and continue to be classified as operating leases under the new accounting standard. As a result of the adoption of the new lease accounting guidance, the Company recognized on January 1, 2019: ● operating lease liabilities of approximately $10.5 million, which represent the present value of the remaining lease payments, as of the date of adoption, discounted using the Company’s incremental borrowing rate of 5.3%, and ● operating lease ROU assets of approximately $8.7 million which represent the operating lease liabilities of $10.5 million, adjusted for ( 1 ) deferred rent of approximately $0.3 million, and ( 2 ) lease incentives or tenant improvement allowance of $1.5 million. The adoption of the new lease accounting standard did not have any other impact on the Company’s condensed consolidated balance sheet, and did not impact the Company’s operating results and cash flows. See Leases, in Note 5 for further information, including further discussion on the impact of adoption and changes in accounting policies relating to leases. Income Statement – Reporting Comprehensive Income (Loss) In February 2018, the FASB issued ASU No. 2018 - 02, Income Statement – Reporting Comprehensive Income (Topic 220 ): Reclassification of Certain Tax Effect from Accumulated Other Comprehensive Income. This update allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Job Act (TCJA) enacted in December 2017. This update became effective for the Company for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company adopted this standard on January 1, 2019, and it did not have a material impact on its condensed consolidated financial statements and footnote disclosures. Compensation - Stock Compensation In June 2018, the FASB issued ASU 2018 - 07, Compensation – Stock Compensation (Topic 718 ), Improvements to Nonemployee Share-Based Payment Accounting. This ASU simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, to include share-based payment transactions for acquiring goods and services from nonemployees and making guidance consistent with the accounting for employee share-based compensation. The Company adopted this standard on January 1, 2019, and it did not have a material impact on its condensed consolidated financial statements and footnote disclosures. Management has reviewed other recently issued accounting pronouncements and has determined there are not any that would have a material impact on the condensed consolidated financial statements. Accounting Standards Not Yet Effective In June 2016, the FASB issued ASU 2016 - 13, Financial Instruments – Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments (ASU 2016 - 13 ) and also issued subsequent amendments to the initial guidance: ASU 2018 - 19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, ASU 2019 - 04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instrument, and ASU 2019 - 05, Financial Instrument – Credit Losses (Topic 326 ): Targeted Transition Relief (collectively, Topic 326 ). Topic 326 requires measurement and recognition of expected credit losses for financial assets held at the reporting date based on external information, or a combination of both relating to past events, current conditions, and reasonable and supportable forecasts. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and other financial assets that represent a right to receive cash. Topic 326 is effective for the Company beginning in the first quarter of 2020. Early adoption is permitted. The Company has not yet determined the impact of this standard on its condensed consolidated financial statements. In January 2017, the FASB issued ASU No. 2017 - 04, Intangibles – Goodwill and Other (Topic 350 ). This standard eliminates step 2 from the annual goodwill impairment test. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted, and is to be applied on a prospective basis. The Company does not anticipate that the adoption of this standard will have a significant impact on its condensed consolidated financial statements or the related disclosures. In August 2018, the FASB issued ASU No. 2018 - 15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350 - 40 ): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The new guidance clarifies the accounting for implementation costs incurred to develop or obtain internal-use software in cloud computing arrangements. Further, the standard also requires entities to expense the capitalized implementation costs of a hosting arrangement over the term of the hosting arrangement. This standard is effective for the Company beginning in the first quarter of 2020. Early adoption is permitted. ASU No. 2018 - 15 should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company has not yet determined the impact of this standard on its condensed consolidated financial statements. |
Note 2 - Business Combination
Note 2 - Business Combination | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. On April 29, 2019 ( $2.7 The Company accounted for this acquisition as a business combination. This method requires that assets acquired and liabilities assumed in a business combination be recognized at their fair values as of the Acquisition Date. The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The goodwill recorded from this acquisition represents business benefits the Company anticipates from assembled workforce and expectation for expanded sales opportunities in advanced data analytics for semiconductors and electronics. The amount of goodwill expected to be deductible for tax purposes is $370,000. not not Intangible assets consist of developed technology and customer relationships. The value assigned to intangibles are based on estimates and judgments regarding expectations for success and life cycle of intangibles acquired. The following table summarizes the allocation of the fair values of the assets acquired and liabilities assumed and the related useful lives, where applicable: (in thousands) Amortization period (years) Finite-lived intangible assets: Developed technology $ 1,640 9 Customer relationship 700 9 Deferred revenue (50 ) Net asset acquired $ 2,290 Goodwill 370 Purchase consideration $ 2,660 |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. The Company derives revenue from two Revenue is recognized when control of products or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those promised products or services. The Company determines revenue recognition through the following five ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligations in the contract ● Recognition of revenue when, or as, performance obligations are satisfied The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company enters into contracts that can include various combinations of licenses, products and services, some of which are distinct and are accounted for as separate performance obligations. For contracts with multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation, generally on a relative basis using its standalone selling price. The Company does not one not three six June 30, 2019 2018. Nature of Products and Services Solutions revenue – The Company recognizes revenue for each element of solutions revenue as follows: The Company licenses majority of its software products separately from project-based solution implementation service contracts, in particular, its Exensio big data platform and related products. The majority of this software is delivered as on-premise software licenses, while others can be delivered entirely or partially through Software-as-a-Service (SaaS) or cloud delivery models. Revenue from perpetual ( one The Company also licenses the Design-for-Inspection (“DFI”) system as a separate component of fixed-price service contracts that are not The Company generates a portion of its solutions revenue from fixed-price, project-based solution implementation service contracts that are associated with its classic yield ramp business, which services are delivered over a specific period of time. Revenue under these project–based contracts for solution implementation services is recognized as services are performed, using a percentage of completion method based on costs or labor-hours inputs, depending on whichever is the most appropriate measure of the progress towards completion of the contract. Due to the nature of the work performed in these arrangements, the estimation of costs or hours at completion is complex, subject to many variables and requires significant judgment. Key factors reviewed by the Company to estimate costs to complete each contract are future labor and product costs and expected productivity efficiencies. If circumstances arise that change the original estimates of revenues, costs, or extent of progress toward completion, revisions to the estimates are made. These revisions may The Company typically includes some of its products and other technology as components of its fixed-price, project-based services contracts. In such instances, the Company determines whether the services performed and products/technology included, are distinct. In most cases, the arrangement is a single performance obligation and therefore follows the pattern of transfer as the service is provided. The Company applies a measure of progress (typically hours-to-hours or cost-to-cost) to any fixed consideration. As a result, revenue is generally recognized over the period the services are performed using percentage of completion method. This results in revenue recognition that corresponds with the value to the client for the services transferred to date relative to the remaining services promised. Gainshare Performance Incentives — When the Company enters into a project-based solution implementation services contract, the contract usually includes two 1 2 Disaggregation of revenue The Company disaggregates revenue from contracts with customers into geographical regions, major contract performance obligations and timing of transfer of goods and services. The Company determined that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The following table shows the revenues from contracts with customers by the nature of transactions (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Licenses and Gainshare Performance Incentives $ 8,725 $ 6,828 $ 13,906 $ 14,315 Support and Services 11,779 14,200 27,031 31,190 Other 64 91 172 351 Total $ 20,568 $ 21,119 $ 41,109 $ 45,856 Licenses and Gainshare Performance Incentives revenue is comprised of (i) the software license fees for perpetual and time-based software license contracts where the standalone selling prices are estimable by the Company, or distinct and separate performance obligations; and (ii) the variable fee component of the Company’s yield improvement service contracts, or Gainshare Performance Incentives, which is usually recognized as revenue subsequent to the delivery of all contractual services and performance obligations. The services component of such contracts, including recurring fees for unspecified software updates and technical support, is presented as support and services. The Company’s performance obligations are satisfied either over time or at a point-in-time. The following table represents a disaggregation of revenue by timing of revenue: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Over time 58 % 68 % 66 % 68 % Point-in-time 42 % 32 % 34 % 32 % Total 100 % 100 % 100 % 100 % International revenues accounted for approximately 58% 56% three six June 30, 2019, 58% 59% three six June 30, 2018, 11. Significant Judgments Judgments and estimates are required under ASU No. 2014 09, 606 606 may may In services arrangements, the Company typically satisfies the performance obligation and recognizes revenue over time. In Design-to-silicon-yield service arrangements, the performance obligation is satisfied over time either because the client controls the asset as it is created (e.g., when the asset is built at the customer site) or because the Company’s performance does not For revenue under project-based contracts for fixed-price solution implementation services, revenue is recognized as services are performed using a percentage-of-completion method based on costs or labor-hours input method, whichever is the most appropriate measure of the progress towards completion of the contract. Due to the nature of the work performed in these arrangements, the estimation of percentage of completion method is complex, subject to many variables and requires significant judgment. Key factors reviewed by the Company to estimate costs to complete each contract are future labor and product costs and expected productivity efficiencies. If circumstances arise that change the original estimates of revenues, costs, or extent of progress toward completion, revisions to the estimates are made. These revisions may The Company’s contracts with customers often include promises to transfer products, licenses and services, including professional services, technical support services, and rights to unspecified updates to a customer. Determining whether products, licenses and services are distinct performance obligations that should be accounted for separately, or not not not may one may The Company is required to record Gainshare royalty revenue in the same period in which the usage occurs. Because the Company generally does not Contract Balances The Company performs its obligations under a contract with a customer by transferring products or services in exchange for consideration from the customer. The timing of the Company’s performance often differs from the timing of the customer’s payment, which results in the recognition of a receivable, a contract asset or a contract liability. The Company classifies the right to consideration in exchange for products or services transferred to a client as either a receivable or a contract asset. A receivable is a right to consideration that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the passage of time. The majority of the Company’s contract assets represent unbilled amounts related to fixed-price solution implementation service contracts when the costs or labor-hours input method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the client, and the right to consideration is subject to milestone completion or client acceptance. The contract assets are generally classified as current and are recorded on a net basis with deferred revenue (i.e., contract liabilities) at the contract level. At June 30, 2019 December 31, 2018, $2.3 $2.7 Contract liabilities primarily consist of deferred revenues and billings in excess of recognized revenues. Deferred revenues consist substantially of amounts invoiced in advance of revenue recognition and is recognized as the revenue recognition criteria are met. Deferred revenues that will be recognized during the succeeding twelve $1.7 $1.0 June 30, 2019 December 31, 2018. twelve three June 30, 2019 2018, $4.7 $5.0 six June 30, 2019, 2018, $8.7 $7.6 At June 30, 2019, $37.4 two five not not one Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 90 not not The adjustment to revenue recognized in the three June 30, 2019 2018 $0.3 $0.2 six June 30, 2019 2018 $0.2 $0.3 Costs to obtain or fulfill a contract The Company capitalizes the incremental costs to obtain or fulfill a contract with a customer, including direct sales commissions and related fees, when it expects to recover those costs. As a result, these costs will need to be capitalized and amortized over an appropriate period, which may not not June 30, 2019 December 31, 2018 $0.6 $0.5 three June 30, 2019 2018 $0.1 six June 30, 2019 2018 $0.2 no These costs primarily consist of transition and set-up costs related to the installation of systems and processes and other deferred fulfillment costs eligible for capitalization. Capitalized costs are amortized consistent with the transfer to the client of the services to which the asset relates and recorded as a component of cost of revenues. The Company also incurred certain direct costs to provide solution implementation services in relation to the specific anticipated contracts. The Company recognizes such costs as a component of cost of revenues, the timing of which is dependent upon identification of a contract arrangement. The Company also defers costs from arrangements that required us to defer the revenues, typically due to the pattern of transfer of the performance obligations in the contract. These costs are recognized in proportion to the related revenue. At the end of the reporting period, the Company evaluates its deferred costs for their probable recoverability. The Company recognizes impairment of deferred costs when it is determined that the costs no no $1.0 $0.2 June 30, 2019 December 31, 2018, |
Note 4 - Balance Sheet Componen
Note 4 - Balance Sheet Components | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 4. Accounts receivable Account receivable includes amounts that are unbilled at the end of the period that are expected to be billed and collected within 12 $13.4 $22.2 June 30, 2019 December 31, 2018, not 12 $5.6 $5.3 June 30, 2019, December 31, 2018, Property and equipment Property and equipment, net consists of (in thousands): June 30, 2019 December 31, 2018 Property and equipment, net: Computer equipment $ 10,660 $ 10,536 Software 4,214 4,112 Furniture, fixtures and equipment 4,836 4,688 Leasehold improvements 5,996 5,474 Test equipment 21,952 14,697 Construction-in-progress 14,262 20,293 61,920 59,800 Less: accumulated depreciation and amortization (26,074 ) (24,119 ) Total $ 35,846 $ 35,681 Test equipment includes DFI assets at customer sites that are contributing to DFI solution revenues. The construction-in-progress balance as of June 30, 2019 December 31, 2018 $1.3 three June 30, 2019 2018. six June 30, 2019 2018 $2.6 $2.5 Goodwill and Intangible Assets As of June 30, 2019, December 31, 2018, $2.3 $1.9 Intangible assets balance was $6.9 $5.1 June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired identifiable intangibles: Customer relationships 1 ‒ 9 $ 7,440 $ (4,712 ) $ 2,728 $ 6,740 $ (4,514 ) $ 2,226 Developed technology 4 ‒ 9 17,460 (13,723 ) 3,737 15,820 (13,404 ) 2,416 Tradename 2 ‒ 7 790 (660 ) 130 790 (648 ) 142 Patent 7 ‒ 10 1,800 (1,540 ) 260 1,800 (1,520 ) 280 Total $ 27,490 $ (20,635 ) $ 6,855 $ 25,150 $ (20,086 ) $ 5,064 The weighted average amortization period for acquired identifiable intangible assets was 6.6 June 30, 2019. three June 30, 2019 2018, $0.3 six June 30, 2019 2018, $0.5 Year ending December 31, Amount 2019 (remaining six months) $ 634 2020 1,269 2021 1,093 2022 886 2023 886 2024 and thereafter 2,087 Total future amortization expense $ 6,855 Intangible assets are amortized over their useful lives unless these lives are determined to be indefinite. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not three six June 30, 2019, no |
Note 5 - Leases
Note 5 - Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 5. The Company leases administrative and sales offices and certain equipment under noncancelable operating leases, which contain various renewal options and, in some cases, require payment of common area costs, taxes and utilities. These operating leases expire at various times through 2028. no June 30, 2019. Leases with an initial term of 12 not June 30, 2019. ROU assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Effective January 1, 2019, not may Operating lease expense was $0.6 $0.7 three June 30, 2019 2018, $1.1 $1.3 six June 30, 2019 2018, Maturity of operating lease liabilities as of June 30, 2019, Year ending December 31, Amount (1) 2019 (remaining six months) $ 882 2020 1,862 2021 1,711 2022 1,526 2023 1,409 2024 and thereafter 4,750 Total future minimum lease payments $ 12,140 Less: Interest ( 2 ) (2,158 ) Present value of operating lease liabilities ( 3 ) $ 9,982 ( 1 ) As of June 30, 2019, $1.0 ( 2 ) Calculated using incremental borrowing interest rate for each lease. ( 3 ) Includes the current portion of operating lease liabilities of $1.9 June 30, 2019. As of June 30, 2019, 7.6 As of June 30, 2019, 5.3%. No three six June 30, 2019. |
Note 6 - Stockholders' Equity
Note 6 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | 6. Stock Repurchase Program On October 25, 2016, $25.0 two May 29, 2018, 2016 $25.0 two three six June 30, 2019, 300,000 614,000 June 30, 2019, 614,000 $12.54 $7.7 2018 three six June 30, 2018, 99,000 437,000 2016 June 30, 2018, 1,279,189 $14.59 2016 $18.7 2018 June 30, 2019, $17.3 |
Note 7 - Employee Benefit Plans
Note 7 - Employee Benefit Plans | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 7. On June 30, 2019, Employee Stock Purchase Plan In July 2001, ten 10% 85% twenty-four four six January 1 2002, 1 675,000 2 2% 3 May 18, 2010, May 17, 2020. The Company estimated the fair value of purchase rights granted under the Purchase Plan during the period using the Black-Scholes-Merton option-pricing model with the following weighted average assumptions, resulting in the following weighted average fair values: Six Months Ended June 30, 201 9 2018 Expected life (in years) 1.25 1.25 Volatility 45.19 % 37.23 % Risk-free interest rate 2.52 % 1.93 % Expected dividend — — Weighted average fair value per share of options granted during the period $ 3.67 $ 4.32 During the three June 30, 2019 2018, no six June 30, 2019 2018, 87,000 108,000 $8.93 $9.29 June 30, 2019, $1.0 1.6 June 30, 2019, 5.2 Stock Incentive Plans On November 16, 2011, 2011 “2011 2011 may 10,300,000 3,500,000 2001 2001 November 16, 2011. 1.33 no ten four In 2001, 2001 “2001 2003, 2001 2001 2011. 2001 ten four no may 2001 2001 As of June 30, 2019, 10.8 2011 4.4 2011 0.5 2001 2011 June 30, 2019. June 30, 2019, no 2011, 2001 The Company estimated the fair value of share-based awards granted under the 2011 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Expected life (in years) 4.46 — 4.46 4.43 Volatility 42.19 — 44.71 42.22 Risk-free interest rate 1.94 — 2.44 2.52 % Expected dividend — — — — Weighted average fair value per share of options granted during the period $ 4.67 $ — $ 4.54 $ 4.28 No three June 30, 2018. Stock-based compensation is estimated at the grant date based on the award’s fair value and is recognized on a straight-line basis over the vesting periods, generally four . Three Months Ended June 30, Six Months Ended June 30, 2019 2018 201 9 2018 Cost of solutions $ 799 $ 968 $ 1,659 $ 1,981 Research and development 901 845 2,619 1,724 Selling, general and administrative 734 889 1,632 1,852 Stock-based compensation expenses $ 2,434 $ 2,702 $ 5,910 $ 5,557 The stock-based compensation expense in the table above includes immaterial expense or credit adjustments related to cash-settled stock appreciation rights (“SARs”) granted to certain employees. The Company accounted for these awards as liability awards and the amount was included in accrued compensation and related benefits. Stock-based compensation capitalized in the capitalized software development costs included in the Property and Equipment, net, was approximately $0.2 June 30, 2019. Additional information with respect to options under the Stock Plans during the six June 30, 2019, Number of Options (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding, January 1, 2019 1,027 $ 9.75 Granted (weighted average fair value of $4.54 per share) 37 $ 11.43 Exercised (156 ) $ 5.42 Canceled (70 ) $ 14.64 Expired (12 ) $ 17.13 Outstanding, June 30, 2019 826 $ 10.11 4.08 $ 3,086 Vested and expected to vest, June 30, 2019 813 $ 10.09 4.00 $ 3,062 Exercisable, June 30, 2019 656 $ 9.59 2.84 $ 2,788 The aggregate intrinsic value in the table above represents the total intrinsic value based on the Company’s closing stock price of $13.12 June 30, 2019. six June 30, 2019, $1.0 As of June 30, 2019, $0.6 2.8 six June 30, 2019, $0.1 Nonvested restricted stock units activity during the six June 30, 2019, Shares (in thousands) Weighted Average Grant Date Fair Value Per Share Nonvested, January 1, 2019 1,835 $ 11.93 Granted 162 $ 12.28 Vested (406 ) $ 13.29 Forfeited (113 ) $ 11.78 Nonvested, June 30, 2019 1,478 $ 11.61 As of June 30, 2019, $13.5 2.5 not |
Note 8 - Restructuring Charges
Note 8 - Restructuring Charges | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 8. On September 27, 2018, October 24, 2018. From inception of the restructuring plan to June 30, 2019, $0.7 not The following table summarizes the activities of restructuring liabilities under this plan (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Beginning balance $ 91 $ 244 Restructuring charges — 92 Cash payments ( ) (336 ) Ending balance $ — $ — |
Note 9 - Income Taxes
Note 9 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9 . INCOME TAXES Income tax benefit increased $0.1 six June 30, 2019, $0.9 $0.8 six June 30, 2018. 22% 25% six June 30, 2019 2018, six June 30, 2019, 2018, The Company’s total amount of unrecognized tax benefits, excluding interest and penalties, as of June 30, 2019, $13.5 $7.9 December 31, 2018, $13.3 $7.8 June 30, 2019, $3.0 $0.7 $11.3 $5.6 The valuation allowance was approximately $10.2 $9.8 June 30, 2019, December 31, 2018, not not Effective January 1, 2018, 1 2 first 2018, The Company conducts business globally and, as a result, files numerous consolidated and separate income tax returns in the U.S. federal, various state and foreign jurisdictions. Because the Company used some of the tax attributes carried forward from previous years to tax years that are still open, statutes of limitation remain open for all tax years to the extent of the attributes carried forward into tax year 2002 not |
Note 10 - Net Loss Per Share
Note 10 - Net Loss Per Share | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 10 . NET LOSS PER SHARE Basic net loss per share is computed by dividing net loss by weighted average number of common shares outstanding for the period (excluding outstanding stock options and shares subject to repurchase). Diluted net loss per share is computed using the weighted-average number of common shares outstanding for the period plus the potential effect of dilutive securities which are convertible into common shares (using the treasury stock method), except in cases in which the effect would be anti-dilutive. The following is a reconciliation of the numerators and denominators used in computing basic and diluted net loss per share (in thousands except per share amount): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Numerator: Net loss $ (710 ) $ (2,096 ) $ (3,401 ) $ (2,520 ) Denominator: Basic weighted-average common shares outstanding 32,339 31,962 32,412 32,065 Effect of dilutive options and restricted stock — — — — Diluted weighted average shares outstanding 32,339 31,962 32,412 32,065 Net loss per share – Basic $ (0.02 ) $ (0.07 ) $ (0.10 ) $ (0.08 ) Net loss per share – Diluted $ (0.02 ) $ (0.07 ) $ (0.10 ) $ (0.08 ) For the three six June 30, 2019 2018, The following table sets forth potential shares of common stock that are not Three Months Ended June 30, Six Months Ended June 30, 201 9 201 8 201 9 201 8 Outstanding options 606 621 614 638 Nonvested restricted stock units 813 1,108 781 1,034 Employee Stock Purchase Plan 18 — 198 16 Total 1,437 1,729 1,593 1,688 |
Note 11 - Customer and Geograph
Note 11 - Customer and Geographic Information | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 11 . CUSTOMER AND GEOGRAPHIC INFORMATION Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker, the chief executive officer, reviews discrete financial information presented on a consolidated basis for purposes of regularly making operating decisions and assessing financial performance. Accordingly, the Company considers itself to be in one The Company had revenues from individual customers in excess of 10% Three Months Ended June 30, Six Months Ended June 30, Customer 201 9 201 8 201 9 201 8 A 33 % 40 % 34 % 39 % B * % 10 % * % * % The Company had gross accounts receivable from individual customers in excess of 10% Customer June 30, 201 9 December 31, 201 8 A 31 % 35 % B 22 % 21 % * represents less than 10% Revenues from customers by geographic area based on the location of the customers’ work sites are as follows (in thousands): Three Months Ended June 30, 2019 2018 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 8,547 42 % $ 8,982 42 % China 3,267 16 4,360 21 Taiwan 2,341 11 1,038 5 Rest of the world 6,413 31 6,739 32 Total revenue $ 20,568 100 % $ 21,119 100 % Six Months Ended June 30, 2019 2018 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 17,862 44 % $ 19,065 41 % China 6,250 15 9,542 21 Taiwan 4,096 10 3,173 7 Rest of the world 12,901 31 14,076 31 Total revenue $ 41,109 100 % $ 45,856 100 % Long-lived assets, net by geographic area are as follows (in thousands): June 30, 2019 (1) December 31, 201 8 (2) United States $ 41,379 $ 35,173 Rest of the world 2,441 508 Total long-lived assets, net $ 43,820 $ 35,681 ( 1 Amounts consist of property and equipment, net, and operating lease right-of-use assets, net ( 2 Amounts consist of property and equipment, net |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 2 . FAIR VALUE MEASUREMENTS Fair value is the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The multiple assumptions used to value financial instruments are referred to as inputs, and a hierarchy for inputs used in measuring fair value is established, that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. These inputs are ranked according to a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three Level 1 Inputs are quoted prices in active markets for identical assets or liabilities. Level 2 Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Inputs are derived from valuation techniques in which one The following table represents the Company’s assets measured at fair value on a recurring basis as of June 30, 2019, Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 27,375 $ 27,375 $ — $ — The following table represents the Company’s assets measured at fair value on a recurring basis as of December 31, 2018, Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 27,068 $ 27,068 $ — $ — The Company enters into foreign currency forward contracts from time to time to reduce the exposure to foreign currency exchange rate fluctuations on certain foreign currency denominated monetary assets and liabilities, primarily on third not not Therefore, the change in fair value of these contracts is recorded into earnings as a component of other income (expense), net, and offsets the change in fair value of the foreign currency denominated assets and liabilities, which is also recorded in other income (expense), net. For the three June 30, 2019 2018, $22,000 $551,000 six June 30, 2019 2018, $292,000 $365,000 The Company carries these derivatives financial instruments on its condensed consolidated balance sheets at their fair values. The Company’s foreign currency forward contracts are classified as Level 2 not June 30, 2019, no December 31, 2018, one $8.2 $55,000 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 3 . COMMITMENTS AND CONTINGENCIES Indemnifications 90 third not Purchase obligations June 30, 2019, $11.0 12 Indemnification of Officers and Directors In addition, the Bylaws of the Company provide that the Company is required to indemnify its officers and directors even when indemnification would otherwise be discretionary, and the Company is required to advance expenses to its officers and directors as incurred in connection with proceedings against them for which they may may not Litigation June 30, 2019, not no no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The interim unaudited condensed consolidated financial statements included herein have been prepared by PDF Solutions, Inc. (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including the instructions to the Quarterly Report on Form 10 10 X. not may 10 December 31, 2018. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after the elimination of all intercompany balances and transactions. The condensed consolidated balance sheet at December 31, 2018, not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these financial statements include revenue recognition, impairment of goodwill and long-lived assets, accounting for stock-based compensation expense, and income taxes. Actual results could differ from those estimates. |
Reclassification, Policy [Policy Text Block] | Reclassification of Prior Period Amount Certain prior period amounts have been reclassified to conform to current year presentation of reporting amortization of costs capitalized to obtain revenue contracts on the Condensed Consolidated Statements of Cash Flows. This reclassification had no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards Leases In February 2016, 2016 02, 842 2017 13, 2018 10, 2018 11, 2018 20 2019 01 842 842 12 842 December 15, 2018, not 842 January 1, 2019 not In addition, the Company elected the transition package of three not not 12 no The Company’s lease portfolio consists primarily of real estate assets, which include administrative and sales offices, and its research and development laboratory and clean room. Some of these leases also require the Company to pay maintenance, utilities, taxes, insurance, and other operating expenses associated with the leased space. Based upon the nature of the items leased and the structure of the leases, the Company’s leases are classified as operating leases and continue to be classified as operating leases under the new accounting standard. As a result of the adoption of the new lease accounting guidance, the Company recognized on January 1, 2019: ● operating lease liabilities of approximately $10.5 5.3%, ● operating lease ROU assets of approximately $8.7 $10.5 1 $0.3 2 $1.5 The adoption of the new lease accounting standard did not not 5 Income Statement – Reporting Comprehensive Income (Loss) In February 2018, No. 2018 02, 220 December 2017. December 15, 2018 January 1, 2019, not Compensation - Stock Compensation In June 2018, 2018 07, 718 718, January 1, 2019, not Management has reviewed other recently issued accounting pronouncements and has determined there are not Accounting Standards Not In June 2016, 2016 13, 326 2016 13 2018 19, 326, 2019 04, 326, 815, 825, 2019 05, 326 326 326 326 first 2020. not In January 2017, No. 2017 04, 350 2 December 15, 2019, not In August 2018, No. 2018 15, 350 40 first 2020. No. 2018 15 not |
Note 2 - Business Combination (
Note 2 - Business Combination (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | (in thousands) Amortization period (years) Finite-lived intangible assets: Developed technology $ 1,640 9 Customer relationship 700 9 Deferred revenue (50 ) Net asset acquired $ 2,290 Goodwill 370 Purchase consideration $ 2,660 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Licenses and Gainshare Performance Incentives $ 8,725 $ 6,828 $ 13,906 $ 14,315 Support and Services 11,779 14,200 27,031 31,190 Other 64 91 172 351 Total $ 20,568 $ 21,119 $ 41,109 $ 45,856 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Over time 58 % 68 % 66 % 68 % Point-in-time 42 % 32 % 34 % 32 % Total 100 % 100 % 100 % 100 % |
Note 4 - Balance Sheet Compon_2
Note 4 - Balance Sheet Components (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2019 December 31, 2018 Property and equipment, net: Computer equipment $ 10,660 $ 10,536 Software 4,214 4,112 Furniture, fixtures and equipment 4,836 4,688 Leasehold improvements 5,996 5,474 Test equipment 21,952 14,697 Construction-in-progress 14,262 20,293 61,920 59,800 Less: accumulated depreciation and amortization (26,074 ) (24,119 ) Total $ 35,846 $ 35,681 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2019 December 31, 2018 Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Acquired identifiable intangibles: Customer relationships 1 ‒ 9 $ 7,440 $ (4,712 ) $ 2,728 $ 6,740 $ (4,514 ) $ 2,226 Developed technology 4 ‒ 9 17,460 (13,723 ) 3,737 15,820 (13,404 ) 2,416 Tradename 2 ‒ 7 790 (660 ) 130 790 (648 ) 142 Patent 7 ‒ 10 1,800 (1,540 ) 260 1,800 (1,520 ) 280 Total $ 27,490 $ (20,635 ) $ 6,855 $ 25,150 $ (20,086 ) $ 5,064 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, Amount 2019 (remaining six months) $ 634 2020 1,269 2021 1,093 2022 886 2023 886 2024 and thereafter 2,087 Total future amortization expense $ 6,855 |
Note 5 - Leases (Tables)
Note 5 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year ending December 31, Amount (1) 2019 (remaining six months) $ 882 2020 1,862 2021 1,711 2022 1,526 2023 1,409 2024 and thereafter 4,750 Total future minimum lease payments $ 12,140 Less: Interest ( 2 ) (2,158 ) Present value of operating lease liabilities ( 3 ) $ 9,982 |
Note 7 - Employee Benefit Pla_2
Note 7 - Employee Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Six Months Ended June 30, 201 9 2018 Expected life (in years) 1.25 1.25 Volatility 45.19 % 37.23 % Risk-free interest rate 2.52 % 1.93 % Expected dividend — — Weighted average fair value per share of options granted during the period $ 3.67 $ 4.32 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Expected life (in years) 4.46 — 4.46 4.43 Volatility 42.19 — 44.71 42.22 Risk-free interest rate 1.94 — 2.44 2.52 % Expected dividend — — — — Weighted average fair value per share of options granted during the period $ 4.67 $ — $ 4.54 $ 4.28 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 201 9 2018 Cost of solutions $ 799 $ 968 $ 1,659 $ 1,981 Research and development 901 845 2,619 1,724 Selling, general and administrative 734 889 1,632 1,852 Stock-based compensation expenses $ 2,434 $ 2,702 $ 5,910 $ 5,557 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Options (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding, January 1, 2019 1,027 $ 9.75 Granted (weighted average fair value of $4.54 per share) 37 $ 11.43 Exercised (156 ) $ 5.42 Canceled (70 ) $ 14.64 Expired (12 ) $ 17.13 Outstanding, June 30, 2019 826 $ 10.11 4.08 $ 3,086 Vested and expected to vest, June 30, 2019 813 $ 10.09 4.00 $ 3,062 Exercisable, June 30, 2019 656 $ 9.59 2.84 $ 2,788 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Shares (in thousands) Weighted Average Grant Date Fair Value Per Share Nonvested, January 1, 2019 1,835 $ 11.93 Granted 162 $ 12.28 Vested (406 ) $ 13.29 Forfeited (113 ) $ 11.78 Nonvested, June 30, 2019 1,478 $ 11.61 |
Note 8 - Restructuring Charges
Note 8 - Restructuring Charges (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Beginning balance $ 91 $ 244 Restructuring charges — 92 Cash payments ( ) (336 ) Ending balance $ — $ — |
Note 10 - Net Loss Per Share (T
Note 10 - Net Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Numerator: Net loss $ (710 ) $ (2,096 ) $ (3,401 ) $ (2,520 ) Denominator: Basic weighted-average common shares outstanding 32,339 31,962 32,412 32,065 Effect of dilutive options and restricted stock — — — — Diluted weighted average shares outstanding 32,339 31,962 32,412 32,065 Net loss per share – Basic $ (0.02 ) $ (0.07 ) $ (0.10 ) $ (0.08 ) Net loss per share – Diluted $ (0.02 ) $ (0.07 ) $ (0.10 ) $ (0.08 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 201 9 201 8 201 9 201 8 Outstanding options 606 621 614 638 Nonvested restricted stock units 813 1,108 781 1,034 Employee Stock Purchase Plan 18 — 198 16 Total 1,437 1,729 1,593 1,688 |
Note 11 - Customer and Geogra_2
Note 11 - Customer and Geographic Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, Customer 201 9 201 8 201 9 201 8 A 33 % 40 % 34 % 39 % B * % 10 % * % * % |
Receivables by Major Customers [Table Text Block] | Customer June 30, 201 9 December 31, 201 8 A 31 % 35 % B 22 % 21 % |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three Months Ended June 30, 2019 2018 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 8,547 42 % $ 8,982 42 % China 3,267 16 4,360 21 Taiwan 2,341 11 1,038 5 Rest of the world 6,413 31 6,739 32 Total revenue $ 20,568 100 % $ 21,119 100 % Six Months Ended June 30, 2019 2018 Revenues Percentage of Revenues Revenues Percentage of Revenues United States $ 17,862 44 % $ 19,065 41 % China 6,250 15 9,542 21 Taiwan 4,096 10 3,173 7 Rest of the world 12,901 31 14,076 31 Total revenue $ 41,109 100 % $ 45,856 100 % |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | June 30, 2019 (1) December 31, 201 8 (2) United States $ 41,379 $ 35,173 Rest of the world 2,441 508 Total long-lived assets, net $ 43,820 $ 35,681 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 27,375 $ 27,375 $ — $ — Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market mutual funds $ 27,068 $ 27,068 $ — $ — |
Note 1 -Basis of Presentation_2
Note 1 -Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Operating Lease, Liability, Total | [1],[2] | $ 9,982 | ||
Operating Lease, Weighted Average Discount Rate, Percent | 5.30% | |||
Operating Lease, Right-of-Use Asset | $ 7,974 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Liability, Total | $ 10,500 | |||
Operating Lease, Weighted Average Discount Rate, Percent | 5.30% | |||
Operating Lease, Right-of-Use Asset | $ 8,700 | |||
Deferred Rent Credit | 300 | |||
Incentive to Lessee | $ 1,500 | |||
[1] | As of June 30, 2019, the total operating lease liability includes $1.0 million related to an option to extend a lease term that is reasonably certain to be exercised. | |||
[2] | Includes the current portion of operating lease liabilities of $1.9 million as of June 30, 2019. |
Note 2 - Business Combination_2
Note 2 - Business Combination (Details Textual) - USD ($) | Apr. 29, 2019 | Jun. 30, 2019 | Jun. 30, 2018 |
Payments to Acquire Businesses, Gross | $ 2,660,000 | $ 2,660,000 | |
Acquisition of StreamMosaic, Inc. [Member] | |||
Payments to Acquire Businesses, Gross | 2,700,000 | ||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 370,000 |
Note 2 - Business Combination -
Note 2 - Business Combination - Fair Values of Assets Acquired and Liabilities Assumed and the Related Useful Lives (Details) - USD ($) $ in Thousands | Apr. 29, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
Deferred revenue | $ (50) | |||
Net asset acquired | 2,290 | |||
Goodwill, Ending Balance | 370 | $ 2,293 | $ 1,923 | |
Purchase consideration | 2,660 | $ 2,660 | ||
Developed Technology Rights [Member] | ||||
Finite-lived intangible assets | $ 1,640 | |||
Finite-lived intangible assets (Year) | 9 years | |||
Customer Relationships [Member] | ||||
Finite-lived intangible assets | $ 700 | |||
Finite-lived intangible assets (Year) | 9 years |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers 1 (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Contract with Customer, Liability, Noncurrent | $ 1,700 | $ 1,700 | $ 1,000 | ||
Contract with Customer, Liability, Revenue Recognized | 4,700 | $ 5,000 | 8,700 | $ 7,600 | |
Revenue, Remaining Performance Obligation, Amount | 37,400 | 37,400 | |||
Contract with Customer, Performance Obligation Satisfied in Previous Period | 300 | (200) | (200) | 300 | |
Capitalized Contract Cost, Net, Total | 600 | 600 | 500 | ||
Capitalized Contract Cost, Amortization | 100 | 100 | 227 | 179 | |
Capitalized Contract Cost, Impairment Loss | 0 | $ 0 | 0 | $ 0 | |
Prepaid Expenses and Other Current Assets [Member] | |||||
Contract with Customer, Asset, Net, Current, Total | 2,300 | 2,300 | 2,700 | ||
Prepaid Expenses and Other Current Assets and Other Non-current Assets [Member] | |||||
Deferred Costs, Total | $ 1,000 | $ 1,000 | $ 200 | ||
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | 100.00% | |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | Countries other than the United States [Member] | |||||
Concentration Risk, Percentage | 58.00% | 58.00% | 56.00% | 59.00% |
Note 3 - Revenue From Contrac_4
Note 3 - Revenue From Contracts With Customers 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01 | Jun. 30, 2019 |
Minimum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 2 years |
Maximum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 5 years |
Note 3 - Revenue From Contrac_5
Note 3 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | $ 20,568 | $ 21,119 | $ 41,109 | $ 45,856 |
Percent of revenue | 100.00% | 100.00% | 100.00% | 100.00% |
Transferred over Time [Member] | ||||
Percent of revenue | 58.00% | 68.00% | 66.00% | 68.00% |
Transferred at Point in Time [Member] | ||||
Percent of revenue | 42.00% | 32.00% | 34.00% | 32.00% |
License [Member] | ||||
Revenues | $ 8,725 | $ 6,828 | $ 13,906 | $ 14,315 |
Service [Member] | ||||
Revenues | 11,779 | 14,200 | 27,031 | 31,190 |
Product and Service, Other [Member] | ||||
Revenues | $ 64 | $ 91 | $ 172 | $ 351 |
Note 4 - Balance Sheet Compon_3
Note 4 - Balance Sheet Components (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Apr. 29, 2019 | Dec. 31, 2018 | |
Unbilled Receivables, Current | $ 13,400 | $ 13,400 | $ 22,200 | |||
Unbilled Receivables, Not Expected to be Billed and Collected in Next Twelve Months | 5,600 | 5,600 | 5,300 | |||
Depreciation, Depletion and Amortization, Nonproduction, Total | 1,300 | $ 1,300 | 2,600 | $ 2,500 | ||
Goodwill, Ending Balance | 2,293 | 2,293 | $ 370 | 1,923 | ||
Finite-Lived Intangible Assets, Net, Ending Balance | 6,855 | $ 6,855 | $ 5,064 | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 6 years 219 days | |||||
Amortization of Intangible Assets, Total | 300 | $ 300 | $ 549 | $ 505 | ||
Impairment of Intangible Assets, Finite-lived | $ 0 | $ 0 |
Note 4 - Balance Sheet Compon_4
Note 4 - Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Property and equipment, gross | $ 61,920 | $ 59,800 |
Less: accumulated depreciation and amortization | (26,074) | (24,119) |
Total | 35,846 | 35,681 |
Computer Equipment [Member] | ||
Property and equipment, gross | 10,660 | 10,536 |
Software and Software Development Costs [Member] | ||
Property and equipment, gross | 4,214 | 4,112 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 4,836 | 4,688 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 5,996 | 5,474 |
Test Equipment [Member] | ||
Property and equipment, gross | 21,952 | 14,697 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 14,262 | $ 20,293 |
Note 4 - Balance Sheet Compon_5
Note 4 - Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Gross Carrying Amount | $ 27,490 | $ 25,150 |
Accumulated Amortization | (20,635) | (20,086) |
Intangible assets, net | 6,855 | 5,064 |
Customer Relationships [Member] | ||
Gross Carrying Amount | 7,440 | 6,740 |
Accumulated Amortization | (4,712) | (4,514) |
Intangible assets, net | $ 2,728 | 2,226 |
Customer Relationships [Member] | Minimum [Member] | ||
Amortization Period (Year) | 1 year | |
Customer Relationships [Member] | Maximum [Member] | ||
Amortization Period (Year) | 9 years | |
Developed Technology Rights [Member] | ||
Gross Carrying Amount | $ 17,460 | 15,820 |
Accumulated Amortization | (13,723) | (13,404) |
Intangible assets, net | $ 3,737 | 2,416 |
Developed Technology Rights [Member] | Minimum [Member] | ||
Amortization Period (Year) | 4 years | |
Developed Technology Rights [Member] | Maximum [Member] | ||
Amortization Period (Year) | 9 years | |
Trade Names [Member] | ||
Gross Carrying Amount | $ 790 | 790 |
Accumulated Amortization | (660) | (648) |
Intangible assets, net | $ 130 | 142 |
Trade Names [Member] | Minimum [Member] | ||
Amortization Period (Year) | 2 years | |
Trade Names [Member] | Maximum [Member] | ||
Amortization Period (Year) | 7 years | |
Patents [Member] | ||
Gross Carrying Amount | $ 1,800 | 1,800 |
Accumulated Amortization | (1,540) | (1,520) |
Intangible assets, net | $ 260 | $ 280 |
Patents [Member] | Minimum [Member] | ||
Amortization Period (Year) | 7 years | |
Patents [Member] | Maximum [Member] | ||
Amortization Period (Year) | 10 years |
Note 4 - Balance Sheet Compon_6
Note 4 - Balance Sheet Components - Annual Amortization of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
2019 (remaining six months) | $ 634 | |
2020 | 1,269 | |
2021 | 1,093 | |
2022 | 886 | |
2023 | 886 | |
2024 and thereafter | 2,087 | |
Total future amortization expense | $ 6,855 | $ 5,064 |
Note 5 - Leases (Details Textua
Note 5 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Lease, Cost, Total | $ 600 | $ 700 | $ 1,100 | $ 1,300 | |
Operating Lease Liability, Renewal Period | 1,000 | 1,000 | |||
Operating Lease, Liability, Current | $ 1,875 | $ 1,875 | |||
Operating Lease, Weighted Average Remaining Lease Term | 7 years 219 days | 7 years 219 days | |||
Operating Lease, Weighted Average Discount Rate, Percent | 5.30% | 5.30% | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 0 | $ 0 |
Note 5 - Leases - Maturity of O
Note 5 - Leases - Maturity of Operating Lease Liabilities (Details) $ in Thousands | Jun. 30, 2019USD ($) | [1] |
2019 (remaining six months) | $ 882 | |
2020 | 1,862 | |
2021 | 1,711 | |
2022 | 1,526 | |
2023 | 1,409 | |
2024 and thereafter | 4,750 | |
Total future minimum lease payments | 12,140 | |
Less: Interest(2) | (2,158) | [2] |
Present value of operating lease liabilities(3) | $ 9,982 | [3] |
[1] | As of June 30, 2019, the total operating lease liability includes $1.0 million related to an option to extend a lease term that is reasonably certain to be exercised. | |
[2] | Calculated using incremental borrowing interest rate for each lease. | |
[3] | Includes the current portion of operating lease liabilities of $1.9 million as of June 30, 2019. |
Note 6 - Stockholders' Equity (
Note 6 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | May 29, 2018 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Oct. 25, 2016 |
Treasury Stock, Value, Acquired, Cost Method | $ 3,790 | $ 3,917 | $ 1,125 | $ 4,123 | ||||||
The 2016 Stock Repurchase Program [Member] | ||||||||||
Stock Repurchase Program, Authorized Amount | $ 25,000 | |||||||||
Treasury Stock, Shares, Acquired | 99,000 | 437,000 | 1,279,189 | |||||||
Treasury Stock Acquired, Average Cost Per Share | $ 14.59 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 18,700 | |||||||||
The 2018 Stock Repurchase Program [Member] | ||||||||||
Stock Repurchase Program, Authorized Amount | $ 25,000 | |||||||||
Stock Repurchase Program, Period in Force | 2 years | |||||||||
Treasury Stock, Shares, Acquired | 300,000 | 614,000 | 614,000 | |||||||
Treasury Stock Acquired, Average Cost Per Share | $ 12.54 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 7,700 | |||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 17,300 | $ 17,300 | $ 17,300 |
Note 7 - Employee Benefit Pla_3
Note 7 - Employee Benefit Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2001 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2001 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 70,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 826,000 | 826,000 | 1,027,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 37,000 | |||||
Share-based Payment Arrangement, Amount Capitalized | $ 168 | ||||||
Share Price | $ 13.12 | $ 13.12 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 1,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 100 | ||||||
Software Development [Member] | |||||||
Share-based Payment Arrangement, Amount Capitalized | 200 | ||||||
Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 600 | $ 600 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 292 days | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 13,500 | $ 13,500 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 182 days | ||||||
Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | ||||||
ESPP Maximum Annual Share Replenishment | 675,000 | ||||||
ESPP Maximum Annual Share Replenishment Percentage of Prior Year Outstanding Company Common Stock | 2.00% | ||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 0 | 0 | 87,000 | 108,000 | |||
Employee Stock Purchase Plan Weighted Average Purchase Price of Shares Purchased | $ 8.93 | $ 9.29 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,000 | $ 1,000 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 219 days | ||||||
Number Of ESPP Shares Available For Future Issuance | 5,200,000 | 5,200,000 | |||||
Twenty Eleven Stock Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 10,300,000 | 10,300,000 | |||||
Share Based Compensation Arrangement By Share Based Payment Award Shares Reserved Decrease Rate | 1.33 | ||||||
Common Stock, Capital Shares Reserved for Future Issuance | 10,800,000 | 10,800,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 4,400,000 | 4,400,000 | |||||
Twenty Eleven Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Shares Previously Issued Under the 2001 Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,500,000 | ||||||
IDS Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Two Thousand One Stock Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 500,000 | ||||||
Outside of the 2011, 2001 or IDS Plans [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 |
Note 7 - Employee Benefit Pla_4
Note 7 - Employee Benefit Plans - Stock Options, Valuation Assumptions (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Weighted average fair value (in dollars per share) | $ 4.54 | |||
Stock Plans [Member] | ||||
Expected life (Year) | 1 year 91 days | 1 year 91 days | ||
Volatility | 45.19% | 37.23% | ||
Risk-free interest rate | 2.52% | 1.93% | ||
Expected dividend | 0.00% | 0.00% | ||
Weighted average fair value (in dollars per share) | $ 3.67 | $ 4.32 | ||
Twenty Eleven Stock Incentive Plan [Member] | ||||
Expected life (Year) | 4 years 167 days | 4 years 167 days | 4 years 156 days | |
Volatility | 42.19% | 44.71% | 42.22% | |
Risk-free interest rate | 1.94% | 2.44% | 2.52% | |
Expected dividend | 0.00% | 0.00% | ||
Weighted average fair value (in dollars per share) | $ 4.67 | $ 4.54 | $ 4.28 |
Note 7 - Employee Benefit Pla_5
Note 7 - Employee Benefit Plans - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Cost of solutions | $ 2,434 | $ 2,702 | $ 5,910 | $ 5,557 |
Cost of Sales [Member] | ||||
Cost of solutions | 799 | 968 | 1,659 | 1,981 |
Research and Development Expense [Member] | ||||
Cost of solutions | 901 | 845 | 2,619 | 1,724 |
Selling, General and Administrative Expenses [Member] | ||||
Cost of solutions | $ 734 | $ 889 | $ 1,632 | $ 1,852 |
Note 7 - Employee Benefit Pla_6
Note 7 - Employee Benefit Plans - Stock Options Activity (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018shares | Jun. 30, 2019USD ($)$ / sharesshares | |
Outstanding (in shares) | shares | 1,027,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 9.75 | |
Granted (in shares) | shares | 0 | 37,000 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 11.43 | |
Exercised (in shares) | shares | (156,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 5.42 | |
Canceled (in shares) | shares | (70,000) | |
Canceled, weighted average exercise price (in dollars per share) | $ / shares | $ 14.64 | |
Expired (in shares) | shares | (12,000) | |
Expired, weighted average exercise price (in dollars per share) | $ / shares | $ 17.13 | |
Outstanding (in shares) | shares | 826,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 10.11 | |
Outstanding, weighted average remaining contractual term (Year) | 4 years 29 days | |
Outstanding, aggregate intrinsic value | $ | $ 3,086 | |
Vested and expected to vest (in shares) | shares | 813,000 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 10.09 | |
Vested and expected to vest, weighted average remaining contractual term (Year) | 4 years | |
Vested and expected to vest, aggregate intrinsic value | $ | $ 3,062 | |
Exercisable (in shares) | shares | 656,000 | |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 9.59 | |
Exercisable, weighted average remaining contractual term (Year) | 2 years 306 days | |
Exercisable, aggregate intrinsic value | $ | $ 2,788 |
Note 7 - Employee Benefit Pla_7
Note 7 - Employee Benefit Plans - Stock Options Activity (Details) (Parentheticals) | 6 Months Ended |
Jun. 30, 2019$ / shares | |
Weighted average fair value (in dollars per share) | $ 4.54 |
Note 7 - Employee Benefit Pla_8
Note 7 - Employee Benefit Plans - Nonvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Nonvested, Balance (in shares) | shares | 1,835 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 11.93 |
Granted (in shares) | shares | 162 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 12.28 |
Vested (in shares) | shares | (406) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 13.29 |
Forfeited (in shares) | shares | (113) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 11.78 |
Nonvested, Balance (in shares) | shares | 1,478 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 11.61 |
Note 8 - Restructuring Charge_2
Note 8 - Restructuring Charges (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Restructuring Charges, Total | $ 92 | |||
Reduction in Its Workforce to Reduce Expenses [Member] | ||||
Restructuring Charges, Total | 92 | |||
Reduction in Its Workforce to Reduce Expenses [Member] | Employee Severance [Member] | ||||
Restructuring Charges, Total | $ 700 |
Note 8 - Restructuring Charge_3
Note 8 - Restructuring Charges - Restructuring Liability Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Restructuring charges | $ 92 | |||
Reduction in Its Workforce to Reduce Expenses [Member] | ||||
Beginning balance | 91 | 244 | ||
Restructuring charges | 92 | |||
Cash payments | (91) | (336) | ||
Ending balance |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Increase (Decrease) in Income Taxes | $ (100) | ||||
Income Tax Expense (Benefit), Total | $ (849) | $ (439) | $ (947) | $ (820) | |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.00% | 25.00% | |||
Unrecognized Tax Benefits, Ending Balance | 13,500 | $ 13,500 | $ 13,300 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 7,900 | 7,900 | 7,800 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 3,000 | 3,000 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued in Long Term Liabilities | 700 | 700 | |||
Unrecognized Tax Benefits In Deferred Tax Assets | 11,300 | 11,300 | |||
Unrecognized Tax Benefits In Deferred Tax Asset Subject To Full Valuation Allowance | 5,600 | 5,600 | |||
Deferred Tax Assets, Valuation Allowance, Total | $ 10,200 | $ 10,200 | $ 9,800 |
Note 10 - Net Loss Per Share -
Note 10 - Net Loss Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net loss | $ (710) | $ (2,096) | $ (3,401) | $ (2,520) |
Basic weighted-average common shares outstanding (in shares) | 32,339 | 31,962 | 32,412 | 32,065 |
Effect of dilutive options and restricted stock (in shares) | ||||
Diluted weighted average shares outstanding (in shares) | 32,339 | 31,962 | 32,412 | 32,065 |
Basic (in dollars per share) | $ (0.02) | $ (0.07) | $ (0.10) | $ (0.08) |
Diluted (in dollars per share) | $ (0.02) | $ (0.07) | $ (0.10) | $ (0.08) |
Note 10 - Net Loss Per Share _2
Note 10 - Net Loss Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Anti-dilutive securities (in shares) | 1,437 | 1,729 | 1,593 | 1,688 |
Share-based Payment Arrangement, Option [Member] | ||||
Anti-dilutive securities (in shares) | 606 | 621 | 614 | 638 |
Restricted Stock Units (RSUs) [Member] | ||||
Anti-dilutive securities (in shares) | 813 | 1,108 | 781 | 1,034 |
Employee Stock Purchase Plan [Member] | ||||
Anti-dilutive securities (in shares) | 18 | 198 | 16 |
Note 11 - Customer and Geogra_3
Note 11 - Customer and Geographic Information (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Number of Operating Segments | 1 |
Note 11 - Customer and Geogra_4
Note 11 - Customer and Geographic Information - Revenue Percentage by Major Customers (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member] | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||||
Customer A [Member] | |||||||
Receivables percentage by major customer | 33.00% | 40.00% | 34.00% | 39.00% | |||
Customer B [Member] | |||||||
Receivables percentage by major customer | [1] | 10.00% | [1] | [1] | |||
[1] | represents less than 10% |
Note 11 - Customer and Geogra_5
Note 11 - Customer and Geographic Information - Receivables Percentage by Major Customers (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Customer A [Member] | ||
Receivables percentage by major customer | 31.00% | 35.00% |
Customer B [Member] | ||
Receivables percentage by major customer | 22.00% | 21.00% |
Note 11 - Customer and Geogra_6
Note 11 - Customer and Geographic Information - Revenues by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | $ 20,568 | $ 21,119 | $ 41,109 | $ 45,856 |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Revenues | $ 20,568 | $ 21,119 | $ 41,109 | $ 45,856 |
Concentration Risk, Percentage | 100.00% | 100.00% | 100.00% | 100.00% |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES | ||||
Revenues | $ 8,547 | $ 8,982 | $ 17,862 | $ 19,065 |
Concentration Risk, Percentage | 42.00% | 42.00% | 44.00% | 41.00% |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | CHINA | ||||
Revenues | $ 3,267 | $ 4,360 | $ 6,250 | $ 9,542 |
Concentration Risk, Percentage | 16.00% | 21.00% | 15.00% | 21.00% |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | TAIWAN, PROVINCE OF CHINA | ||||
Revenues | $ 2,341 | $ 1,038 | $ 4,096 | $ 3,173 |
Concentration Risk, Percentage | 11.00% | 5.00% | 10.00% | 7.00% |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | Rest of the World [Member] | ||||
Revenues | $ 6,413 | $ 6,739 | $ 12,901 | $ 14,076 |
Concentration Risk, Percentage | 31.00% | 32.00% | 31.00% | 31.00% |
Note 11 - Customer and Geogra_7
Note 11 - Customer and Geographic Information - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | [1] | Dec. 31, 2018 | [2] |
Long-lived assets | $ 43,820 | $ 35,681 | ||
UNITED STATES | ||||
Long-lived assets | 41,379 | 35,173 | ||
Rest of the World [Member] | ||||
Long-lived assets | $ 2,441 | $ 508 | ||
[1] | Amounts consist of property and equipment, net, and operating lease right-of-use assets, net | |||
[2] | Amounts consist of property and equipment, net |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements (Details Textual) - Foreign Exchange Contract [Member] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Derivative Asset, Notional Amount | $ 8,200,000 | ||||
Other Current Assets [Member] | |||||
Derivative Asset, Current | $ 55,000 | ||||
Other Nonoperating Income (Expense) [Member] | |||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ (22,000) | $ (551,000) | $ (292,000) | $ (365,000) |
Note 12 - Financial Instruments
Note 12 - Financial Instruments - Fair Value, Assets Measured on a Recurring Basis (Details) - Money Market Funds [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Money market mutual funds | $ 27,375 | $ 27,068 |
Fair Value, Inputs, Level 1 [Member] | ||
Money market mutual funds | 27,375 | 27,068 |
Fair Value, Inputs, Level 2 [Member] | ||
Money market mutual funds | ||
Fair Value, Inputs, Level 3 [Member] | ||
Money market mutual funds |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Details Textual) $ in Thousands | Jun. 30, 2019USD ($) |
Purchase Obligation, Due in Next Twelve Months | $ 11,000 |
Loss Contingency Accrual, Ending Balance | $ 0 |