Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.1
Segment Information
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Segment Information

Note 11—Segment Information

The Company has organized its business into two operating segments based on the product specialties: the vascular segment and the dermatology segment.

In deciding how to allocate resources and assess performance, the Company’s chief operating decision maker regularly evaluates the sales and gross profit of these segments. Amounts included within selling, general and administrative expense and research and development expense are general to the Company and not specific to a particular segment; therefore, these amounts are not evaluated by the Company’s chief operating decision maker on a segmented basis.

The following tables summarize segment performance (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Vascular

 

$

461

 

 

$

90

 

Dermatology

 

 

1,287

 

 

 

879

 

Net revenue

 

$

1,748

 

 

$

969

 

Vascular

 

$

1,167

 

 

$

251

 

Dermatology

 

 

775

 

 

 

485

 

Cost of revenue

 

$

1,942

 

 

$

736

 

Vascular

 

$

(706

)

 

$

(161

)

Dermatology

 

 

512

 

 

 

394

 

Gross (loss) profit

 

$

(194

)

 

$

233

 

 

Generally, all assets are common assets, except for demonstration lasers and lasers placed with customers, which are a subset of property and equipment. The net book value of demonstration lasers and lasers placed with customers aggregated in the vascular segment was $2.6 million and $2.2 million as of March 31, 2019 and December 31, 2018, respectively. The net book value of the demonstration lasers and lasers placed with customers aggregated in the dermatology segment was $0.9 million and $0.7 million as of March 31, 2019 and December 31, 2018, respectively.

No sales to an individual customer or country other than the United States accounted for more than 10% of net revenue for the three months ended March 31, 2019 and 2018. Net revenue, classified by the major geographic areas in which our customers are located, was as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

United States

 

$

1,652

 

 

$

829

 

All other countries

 

 

96

 

 

 

140

 

Net revenue

 

$

1,748

 

 

$

969