Gross profit (FY, 2017)57.7 M

Gross profit margin (FY, 2017), %46.2%

Net income (FY, 2017)(3 M)

EBIT (FY, 2017)(4.8 M)

Cash, 31-Dec-201721.3 M

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Revenue | 151.1 m | 143 m | 144.3 m | 137.9 m | 124.8 m |

| (5%) | 1% | (4%) | ||

## Cost of goods sold | 67.1 m | ||||

## Gross profit | 57.7 m | ||||

| 46% | ||||

## Sales and marketing expense | 14.3 m | ||||

## R&D expense | 36.7 m | ||||

## General and administrative expense | 9.8 m | ||||

## Operating expense total | 62.5 m | ||||

## Depreciation and amortization | 1.7 m | ||||

## EBIT | 69 k | (443 k) | 714 k | 4.2 m | (4.8 m) |

| 0% | 0% | 0% | 3% | (4%) |

## Income tax expense | 150 k | (2.8 m) | 327 k | 594 k | 92 k |

## Net Income | 2.7 m | 3.6 m | 1.6 m | 4.8 m | (3 m) |

- Source: SEC Filings

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 35.4 m | 32.9 m | 36.3 m | 36.7 m | 38 m | 37.2 m | 35.2 m | 27.7 m | 36.2 m | 38.8 m | 27.9 m | 31.3 m |

## Cost of goods sold | 21.6 m | 19.9 m | 21.5 m | 22.2 m | 22.5 m | 22 m | 20.6 m | 15.9 m | 20.3 m | 21.4 m | 15.7 m | |

## Gross profit | 13.8 m | 13 m | 14.8 m | 14.5 m | 15.5 m | 15.2 m | 14.6 m | 11.7 m | 15.9 m | 17.4 m | 12.2 m | |

| 39% | 40% | 41% | 40% | 41% | 41% | 41% | 42% | 44% | 45% | 44% | |

## Sales and marketing expense | 2.8 m | 3.1 m | 2.9 m | 2.9 m | 3.1 m | 3 m | 3.1 m | 3.4 m | 3.3 m | 3.6 m | 3.6 m | 3.4 m |

## R&D expense | 9.2 m | 9.2 m | ||||||||||

## General and administrative expense | 2.6 m | 2.7 m | 2.6 m | 2.6 m | 2.5 m | 2.5 m | 2.4 m | 2.3 m | 2.3 m | 2.1 m | 2.5 m | 2.4 m |

## Operating expense total | 13.9 m | 14.4 m | 14 m | 14 m | 15 m | 14.6 m | 14.5 m | 14.9 m | 15 m | 12 m | 15.7 m | 15.4 m |

## EBIT | (103 k) | (1.4 m) | 768 k | 576 k | 514 k | 625 k | 63 k | (3.2 m) | 930 k | 5.3 m | (3.4 m) | (891 k) |

| 0% | (4%) | 2% | 2% | 1% | 2% | 0% | (11%) | 3% | 14% | (12%) | (3%) |

## Interest income | 297 k | 291 k | 245 k | 292 k | 273 k | 344 k | ||||||

## Income tax expense | 148 k | |||||||||||

## Net Income | 398 k | (988 k) | 1.1 m | 773 k | 773 k | 730 k | 167 k | (2.9 m) | 1.1 m | 5.3 m | (2.9 m) | (586 k) |

- Source: SEC Filings

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Cash | 23.6 m | 20.5 m | 13.7 m | 17.8 m | 21.3 m |

## Accounts Receivable | 21.2 m | 20.3 m | 19.2 m | 19.1 m | |

## Inventories | 12.3 m | 15.6 m | 11.5 m | 9.7 m | 9.4 m |

## Current Assets | 73.8 m | 71.3 m | 65.9 m | 78 m | 72.6 m |

## PP&E | 2.8 m | 2.8 m | 3.8 m | 4.1 m | 3.2 m |

## Goodwill | 5.3 m | 5.3 m | 5.3 m | 6.2 m | 6.2 m |

## Total Assets | 192.3 m | 191.2 m | 184 m | 185.9 m | 185.2 m |

## Accounts Payable | 14.1 m | 15.3 m | 13.1 m | 192.3 m | 8.7 m |

## Short-term debt | |||||

## Current Liabilities | 31.5 m | 31.7 m | 27.6 m | 25.9 m | 21.5 m |

## Long-term debt | |||||

## Non-Current Liabilities | 13.3 m | 12.9 m | 13.1 m | 14.5 m | 16.8 m |

## Total Liabilities | 44.9 m | 44.6 m | 40.6 m | 40.4 m | |

## Additional Paid-in Capital | 350.5 m | 355.9 m | 361 m | 366.1 m | 372 m |

## Retained Earnings | (83.5 m) | (85.4 m) | (90.8 m) | (96.1 m) | (104.8 m) |

## Total Equity | 147.4 m | 146.6 m | 143.3 m | 145.5 m | 147 m |

## Financial Leverage | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 17.3 m | 14.5 m | 17.8 m | 14.5 m | 13.5 m | 15.7 m | 12.5 m | 10 m | 17.8 m | 13.9 m | 17.2 m | 17.9 m |

## Accounts Receivable | 22.7 m | 23.8 m | 25.1 m | |||||||||

## Inventories | 13.1 m | 12.2 m | 12 m | 13.9 m | 13.5 m | 14.1 m | 12.1 m | 13.5 m | 12.9 m | 9.9 m | 9.2 m | 10.6 m |

## Current Assets | 73.8 m | 65.9 m | 65.6 m | 64.9 m | 68.6 m | 69.5 m | 69.3 m | 65.6 m | 73.1 m | 75.5 m | 81.9 m | 79.5 m |

## PP&E | 3 m | 2.9 m | 2.9 m | 2.9 m | 3.1 m | 3.4 m | 3.5 m | 4 m | 4 m | 4 m | 4 m | 3.8 m |

## Goodwill | 5.3 m | 5.3 m | 5.3 m | 5.3 m | 5.3 m | 5.3 m | 5.3 m | 5.3 m | 5.3 m | 6.2 m | 6.2 m | 6.2 m |

## Total Assets | 191.3 m | 183.4 m | 185.5 m | 189 m | 190 m | 183.4 m | 180.3 m | 183.3 m | 186.4 m | 180.8 m | 184.2 m | |

## Current Liabilities | 28.4 m | 26.1 m | 27.7 m | 30.6 m | 26.9 m | 29.6 m | 25.7 m | 25.7 m | 28 m | 24.2 m | 20.9 m | 24 m |

## Non-Current Liabilities | 13.4 m | 13.6 m | 13.9 m | 13.3 m | 12.6 m | 13.3 m | 13 m | 13.5 m | 13 m | 14.3 m | 15.5 m | 16.1 m |

## Additional Paid-in Capital | 349.5 m | 351.9 m | 353.4 m | 354.7 m | 357.2 m | 358.6 m | 359.9 m | 362 m | 363.3 m | 364.7 m | 367.7 m | 369.2 m |

## Retained Earnings | (82.2 m) | (86.9 m) | (86.1 m) | (86.3 m) | (87.9 m) | (88.7 m) | (89.9 m) | (96.1 m) | (96.7 m) | (94.6 m) | (101.3 m) | (102.9 m) |

## Total Equity | 147.1 m | 144.6 m | 141.1 m | 142.4 m | 148 m | 144.5 m | 144.1 m | |||||

## Financial Leverage | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Net Income | 2.7 m | 3.6 m | 1.6 m | 4.8 m | (3 m) |

## Depreciation and Amortization | 3.7 m | 2.9 m | 2.6 m | 1.5 b | 1.8 m |

## Accounts Receivable | (767 k) | 704 k | 945 k | 168 k | 5.7 m |

## Inventories | 587 k | (3.3 m) | 4.1 m | 1.7 m | 363 k |

## Accounts Payable | 121 k | 1.1 m | (2.2 m) | (575 k) | (3.9 m) |

## Cash From Operating Activities | 13.3 m | 10.4 m | 12.2 m | 16.5 m | 8.5 m |

## Purchases of PP&E | (1.1 m) | (1.3 m) | (2.3 m) | (2.1 m) | (838 k) |

## Cash From Investing Activities | (9.9 m) | (2.6 m) | (6.9 m) | (3.1 m) | (2.1 m) |

## Cash From Financing Activities | (1.5 m) | (10.7 m) | (12 m) | (9.4 m) | (3 m) |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 398 k | (988 k) | 1.1 m | 773 k | 773 k | 730 k | 167 k | (2.9 m) | 1.1 m | 5.3 m | (2.9 m) | |

## Accounts Receivable | 23.8 m | 25.1 m | ||||||||||

## Inventories | 12 m | 13.9 m | 13.5 m | 14.1 m | 12.1 m | 13.5 m | 12.9 m | 9.9 m | 9.2 m | |||

## Accounts Payable | 12.8 m | 15.5 m | 14.1 m | 15.3 m | 10.8 m | 13 m | 12.9 m | 10.7 m | 10.3 m | |||

## Cash From Operating Activities | 2.1 m | 4 m | (4.2 m) | 4.8 m | 5.9 m | (4.1 m) | 3.1 m | |||||

## Purchases of PP&E | (1.2 m) | (1.6 m) | (651 k) | (1 m) | (1.5 m) | (387 k) | (625 k) | |||||

## Cash From Investing Activities | (1.7 m) | (1.9 m) | 2.4 m | 2.4 m | (876 k) | 4.2 m | (1.1 m) | |||||

## Cash From Financing Activities | (5.2 m) | (10.1 m) | (1.9 m) | (3.1 m) | (4.9 m) | (666 k) | (1.9 m) |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 338.5 k |

## Financial Leverage | 1.3 x |

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