10-Q Filing

ACCELERATE DIAGNOSTICS, INC CIK: 727207 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001000096-14-000093`
Period End Date	20140630
Filing Date	20140801
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	axdx-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 76 Cash Flow Statement 54

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$65.21M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	55.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	55.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.17M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	41.47M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	44.58M	shares	Point-in-time
Investments	`InvestmentOwnedUnderlyingFaceAmountAtMarketValue`	$11.96M	USD	Point-in-time
Investments	`InvestmentOwnedUnderlyingFaceAmountAtMarketValue`	$13.80M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	41.47M	shares	Point-in-time
Trade accounts receivable	`ReceivablesNetCurrent`	$24.00K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	44.58M	shares	Point-in-time
Trade accounts receivable	`ReceivablesNetCurrent`	$40.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$130.00K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$616.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$42.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$79.67M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.93M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$203.00K	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$241.00K	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Assets	`Assets`	$81.80M	USD	Point-in-time
Total Assets	`Assets`	$43.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$540.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.30M	USD	Point-in-time
Accrued compensation and other liabilities	`EmployeeRelatedLiabilitiesCurrent`	$727.00K	USD	Point-in-time
Accrued compensation and other liabilities	`EmployeeRelatedLiabilitiesCurrent`	$515.00K	USD	Point-in-time
Deferred revenue and income	`DeferredRevenue`	$76.00K	USD	Point-in-time
Deferred revenue and income	`DeferredRevenue`	$82.00K	USD	Point-in-time
Capital lease obligation	`CapitalLeaseObligations`	$145.00K	USD	Point-in-time
Capital lease obligation	`CapitalLeaseObligations`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.25M	USD	Point-in-time
Long-term deferred income	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$777.00K	USD	Point-in-time
Long-term deferred income	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$763.00K	USD	Point-in-time
Long-term capital lease obligation	`LongTermDebtAndCapitalLeaseObligations`	-	USD	Point-in-time
Long-term capital lease obligation	`LongTermDebtAndCapitalLeaseObligations`	$87.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.10M	USD	Point-in-time
Common stock, $0.001 par value; 55,000,000 shares authorized 44,583,092 (as of June 30, 2014) and 41,649,521 (as of December 31, 2013) shares issued and outstanding	`CommonStockValue`	$42.00K	USD	Point-in-time
Common stock, $0.001 par value; 55,000,000 shares authorized 44,583,092 (as of June 30, 2014) and 41,649,521 (as of December 31, 2013) shares issued and outstanding	`CommonStockValue`	$45.00K	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized and none outstanding as of June 30, 2014 and December 31, 2013	`PreferredStockSharesSubscribedButUnissuedValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized and none outstanding as of June 30, 2014 and December 31, 2013	`PreferredStockSharesSubscribedButUnissuedValue`	-	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapitalCommonStock`	$75.94M	USD	Point-in-time
Contributed capital	`AdditionalPaidInCapitalCommonStock`	$126.47M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-47.84M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-34.48M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxDebtSecurities`	$22.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxDebtSecurities`	$28.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$41.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$78.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$81.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$43.43M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Licensing and royalty revenues	`LicensesRevenue`	$27.00K	USD	2 Qtrs
Licensing and royalty revenues	`LicensesRevenue`	$7.00K	USD	1 Quarter
Licensing and royalty revenues	`LicensesRevenue`	$13.00K	USD	1 Quarter
Licensing and royalty revenues	`LicensesRevenue`	$23.00K	USD	2 Qtrs
Total revenues	`SalesRevenueNet`	$27.00K	USD	2 Qtrs
Total revenues	`SalesRevenueNet`	$13.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$23.00K	USD	2 Qtrs
Total revenues	`SalesRevenueNet`	$7.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.34M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.12M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.56M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.46M	USD	1 Quarter
Sales, general and administrative	`GeneralAndAdministrativeExpense`	$5.49M	USD	2 Qtrs
Sales, general and administrative	`GeneralAndAdministrativeExpense`	$3.45M	USD	1 Quarter
Sales, general and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
Sales, general and administrative	`GeneralAndAdministrativeExpense`	$1.86M	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$38.00K	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$38.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$107.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$150.00K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$285.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$71.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$8.18M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.35M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$13.94M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.79M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.91M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-8.16M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.33M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.78M	USD	1 Quarter
Other expense	`OtherCostAndExpenseOperating`	$3.00K	USD	1 Quarter
Other expense	`OtherCostAndExpenseOperating`	$1.00K	USD	2 Qtrs
Other expense	`OtherCostAndExpenseOperating`	$3.00K	USD	2 Qtrs
Other expense	`OtherCostAndExpenseOperating`	$1.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$16.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$4.00K	USD	2 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$34.00K	USD	2 Qtrs
Total other income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.00K	USD	2 Qtrs
Total other income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.00K	USD	2 Qtrs
Total other income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.00K	USD	1 Quarter
Total other income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-13.88M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-8.15M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-3.78M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-6.33M	USD	2 Qtrs
Benefit from income taxes	`IncomeLossFromContinuingOperations`	-	USD	1 Quarter
Benefit from income taxes	`IncomeLossFromContinuingOperations`	-	USD	2 Qtrs
Benefit from income taxes	`IncomeLossFromContinuingOperations`	$527.00K	USD	2 Qtrs
Benefit from income taxes	`IncomeLossFromContinuingOperations`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.33M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-8.15M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-13.35M	USD	2 Qtrs
Basic and diluted net loss per share (not in thousands)	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	2 Qtrs
Basic and diluted net loss per share (not in thousands)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	2 Qtrs
Basic and diluted net loss per share (not in thousands)	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted net loss per share (not in thousands)	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Weighted average shares outstanding (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	42,637.00	shares	2 Qtrs
Weighted average shares outstanding (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	43,477.00	shares	1 Quarter
Weighted average shares outstanding (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	34,128.00	shares	2 Qtrs
Weighted average shares outstanding (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	38,941.00	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.33M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-8.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.35M	USD	2 Qtrs
Net unrealized gain on available-for-sale investments	`UnrealizedGainLossOnInvestments`	$6.00K	USD	2 Qtrs
Net unrealized gain on available-for-sale investments	`UnrealizedGainLossOnInvestments`	-	USD	2 Qtrs
Net unrealized gain on available-for-sale investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Net unrealized gain on available-for-sale investments	`UnrealizedGainLossOnInvestments`	$2.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.78M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.35M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.15M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.33M	USD	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.78M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.33M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-8.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.35M	USD	2 Qtrs
Depreciation	`Depreciation`	$285.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$107.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$38.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$38.00K	USD	2 Qtrs
Amortization of investment discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of investment discount	`AmortizationOfDebtDiscountPremium`	$124.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$4.93M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.60M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-16.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-54.00K	USD	2 Qtrs
Prepaid expense and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-105.00K	USD	2 Qtrs
Prepaid expense and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-486.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$22.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$496.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$42.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$197.00K	USD	2 Qtrs
Deferred revenue and income	`IncreaseDecreaseInDeferredRevenue`	$-20.00K	USD	2 Qtrs
Deferred revenue and income	`IncreaseDecreaseInDeferredRevenue`	$495.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.18M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.80M	USD	2 Qtrs
Purchases of equipment and capitalized patents	`PaymentsToAcquireProductiveAssets`	$897.00K	USD	2 Qtrs
Purchases of equipment and capitalized patents	`PaymentsToAcquireProductiveAssets`	$729.00K	USD	2 Qtrs
Purchase of available-for-sale securities	`PaymentsToAcquireMarketableSecurities`	$-4.08M	USD	2 Qtrs
Purchase of available-for-sale securities	`PaymentsToAcquireMarketableSecurities`	-	USD	2 Qtrs
Sales of available-for sale securities	`AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds`	-	USD	2 Qtrs
Sales of available-for sale securities	`AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds`	$121.00K	USD	2 Qtrs
Maturity of available-for-sale securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.00M	USD	2 Qtrs
Maturity of available-for-sale securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.69M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-897.00K	USD	2 Qtrs
Issuance of common stock and warrants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Issuance of common stock and warrants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$44.98M	USD	2 Qtrs
Exercise of warrants and options	`ProceedsFromStockOptionsExercised`	$730.00K	USD	2 Qtrs
Exercise of warrants and options	`ProceedsFromStockOptionsExercised`	$20.18M	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$-35.00K	USD	2 Qtrs
Payments on capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.18M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.67M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$35.18M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.10M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$65.21M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$65.21M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.17M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.