Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

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Consolidated Statements Of Operations - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues $ 25,362,000 $ 25,013,000 $ 28,167,000
Cost of revenues 7,059,000 8,493,000 10,262,000
Revenues:      
Gross profit 18,303,000 16,520,000 17,905,000
Operating expenses:      
Research and development 7,360,000 7,013,000 7,279,000
Sales and marketing 8,709,000 8,394,000 10,026,000
General and administrative 6,787,000 7,122,000 8,567,000
Amortization of purchased intangibles 757,000 904,000 904,000
Total operating expenses 23,613,000 23,433,000 26,776,000
Operating loss (5,310,000) (6,913,000) (8,871,000)
Other income (expense):      
Gain on sale of BriefCam, Ltd. 41,000 6,602,000 0
Loss on extinguishment of debt (348,000) (1,189,000) 0
Interest expense, net (754,000) (1,809,000) (2,852,000)
Decrease (increase) in fair value of warrant liability (141,000) 368,000 74,000
Other expense, net (125,000) (378,000) (433,000)
Total other income (expense), net (1,327,000) 3,594,000 (3,211,000)
Loss before income taxes (6,637,000) (3,319,000) (12,082,000)
Income tax expense (benefit) (194,000) 298,000 (358,000)
Net loss $ (6,443,000) $ (3,617,000) $ (11,724,000)
Net loss per share – basic:      
Net loss per share – basic $ (0.62) $ (0.38) $ (1.25)
Weighted average shares outstanding – basic 10,395 9,499 9,347
Net loss per share – diluted:      
Loss attributable to common shareholders $ (6,548,000) $ (3,778,000) $ (11,724,000)
Loss attributable to common shareholders from continuing operations     $ (11,724,000)
Net loss per share – diluted $ (0.63) $ (0.39) $ (1.25)
Weighted average shares outstanding – diluted 10,414 9,606 9,347
Software licenses and appliances      
Revenues $ 4,903,000 $ 5,814,000 $ 5,982,000
Cost of revenues 1,911,000 2,277,000 2,407,000
Service      
Revenues 20,459,000 19,199,000 22,185,000
Cost of revenues $ 5,148,000 $ 6,216,000 $ 7,855,000