Financials

v3.19.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 1,900 $ 4,318
Accounts receivable, net 10,475 9,593
Inventories 2,553 2,254
Other current assets 1,470 1,372
Total current assets 16,398 17,537
Medical equipment for sale or rental 1,810 1,601
Medical equipment in rental service, net of accumulated depreciation 26,109 23,488
Property & equipment, net of accumulated depreciation 1,368 1,445
Intangible assets, net 18,740 19,865
Operating lease right of use assets 2,671
Other assets 149 137
Total assets 67,245 64,073
Current liabilities:    
Accounts payable 9,672 7,091
Capital lease liability, current 33
Current portion of long-term debt 5,337 4,903
Other current liabilities 3,466 2,763
Total current liabilities 18,475 14,790
Long-term debt, net of current portion 27,519 28,842
Deferred income taxes 29
Operating lease liabilities, net of current portion 1,479
Total liabilities 47,502 43,632
Stockholders’ equity:    
Preferred stock, $.0001 par value: authorized 1,000,000 shares; none issued
Common stock, $.0001 par value: authorized 200,000,000 shares; issued and outstanding 23,221,296 and 19,702,807, respectively, as of March 31, 2019 and 23,095,513 and 19,577,024, respectively, as of December 31, 2018 2 2
Additional paid-in capital 83,429 83,167
Retained deficit (63,688) (62,728)
Total stockholders’ equity 19,743 20,441
Total liabilities and stockholders’ equity $ 67,245 $ 64,073
v3.19.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net revenues $ 18,193 $ 16,483
Cost of revenues 7,852 6,246
Gross profit 10,341 10,237
Selling, general and administrative expenses:    
Amortization of intangibles 1,125 1,187
Selling and marketing 2,602 2,301
General and administrative 7,034 6,161
Total selling, general and administrative 10,761 9,649
Operating (loss) income (420) 588
Other expense:    
Interest expense (460) (315)
Other expense (21) (11)
(Loss) income before income taxes (901) 262
Provision for income taxes (59) (58)
Net (loss) income $ (960) $ 204
Net (loss) income per share:    
Basic (in dollars per share) $ (0.05) $ 0.01
Diluted (in dollars per share) $ (0.05) $ 0.01
Weighted average shares outstanding:    
Basic (in shares) 19,580,049 22,799,221
Diluted (in shares) 19,580,049 22,857,121
v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
NET CASH PROVIDED BY OPERATING ACTIVITIES $ 1,269 $ 1,053
INVESTING ACTIVITIES    
Purchase of medical equipment and property (3,535) (1,120)
Proceeds from sale of medical equipment and property 764 955
NET CASH USED IN INVESTING ACTIVITIES (2,771) (165)
FINANCING ACTIVITIES    
Principal payments on term loans and capital lease obligations (929) (2,790)
Debt issuance costs (3)
Common stock repurchased to satisfy statutory withholding on employee stock based compensation plans (37)
Common stock repurchased as part of Repurchase Program (83)
Cash proceeds - stock plans 53 46
NET CASH USED IN FINANCING ACTIVITIES (916) (2,827)
Net change in cash and cash equivalents (2,418) (1,939)
Cash and cash equivalents, beginning of period 4,318 3,469
Cash and cash equivalents, end of period $ 1,900 $ 1,530