Condensed Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
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| Revenue | ||||
| Investment advisory | $ 5,168 | $ 17,366 | ||
| Net revenue | 63,693 | $ 46,886 | 182,952 | $ 142,265 |
| Operating expenses | ||||
| Research and development - licenses acquired | 0 | |||
| Operating expenses | 88,582 | 79,489 | 267,924 | 215,638 |
| Loss from operations | (24,889) | (32,603) | (84,972) | (73,373) |
| Other income (expenses) | ||||
| Interest income | 269 | 204 | 841 | 530 |
| Interest expense and financing fee | (2,228) | (3,220) | (6,455) | (5,298) |
| Change in fair value of derivative liabilities | 0 | (639) | (7,931) | 5,155 |
| Change in fair value of subsidiary convertible note | (84) | (74) | 26 | (359) |
| Change in fair value of investments | (565) | 270 | (1,390) | (241) |
| Other expenses | (146) | (245) | (258) | (232) |
| Total other expenses | (2,754) | (3,704) | (15,167) | (445) |
| Loss before income taxes | (27,643) | (36,307) | (100,139) | (73,818) |
| Income tax expense | 944 | 0 | 2,382 | 0 |
| Net loss | (28,587) | (36,307) | (102,521) | (73,818) |
| Less: net loss attributable to non-controlling interests | (11,949) | (9,191) | (43,254) | (17,355) |
| Net loss attributable to common stockholders | $ (16,638) | $ (27,116) | $ (59,267) | $ (56,463) |
| Basic and diluted net loss per common share | $ (0.37) | $ (0.67) | $ (1.36) | $ (1.39) |
| Weighted average common shares outstanding-basic and diluted | 44,818,186 | 40,724,115 | 43,578,763 | 40,547,364 |
| Parent Company [Member] | ||||
| Revenue | ||||
| Product revenue, net | $ 5,168 | $ 2,170 | $ 17,366 | $ 8,309 |
| Revenue - from a related party | 5 | 350 | 525 | 1,393 |
| Net revenue | 5,173 | 2,520 | 17,891 | 9,702 |
| Operating expenses | ||||
| Cost of goods sold - product revenue | 1,406 | 505 | 4,546 | 1,852 |
| Research and development | 16,082 | 15,890 | 58,528 | 34,683 |
| Research and development - licenses acquired | 3,706 | 300 | 3,804 | 3,394 |
| General and administrative | 12,184 | 15,104 | 38,788 | 36,490 |
| Operating expenses | 33,378 | 31,799 | 105,666 | 76,419 |
| National Holdings Corporation [Member] | ||||
| Revenue | ||||
| Commissions | 28,397 | 24,881 | 85,422 | 73,380 |
| Net dealer inventory gains | 482 | 1,789 | 5,601 | 6,666 |
| Investment banking | 19,271 | 8,942 | 43,012 | 26,595 |
| Investment advisory | 5,281 | 3,605 | 15,811 | 10,480 |
| Interest and dividends | 771 | 674 | 2,003 | 2,065 |
| Transfer fees and clearing services | 1,606 | 1,649 | 5,680 | 5,834 |
| Tax preparation and accounting | 2,444 | 2,527 | 6,835 | 6,527 |
| Other | 268 | 299 | 697 | 1,016 |
| Net revenue | 58,520 | 44,366 | 165,061 | 132,563 |
| Operating expenses | ||||
| Commissions, compensation and fees | 48,556 | 39,963 | 141,462 | 118,983 |
| Clearing fees | 451 | 470 | 1,772 | 1,826 |
| Communications | 856 | 690 | 2,429 | 2,094 |
| Occupancy | 738 | 972 | 2,834 | 2,916 |
| Licenses and registration | 861 | 391 | 2,028 | 1,223 |
| Professional fees | 1,076 | 1,082 | 3,047 | 3,336 |
| Interest | 26 | 5 | 30 | 13 |
| Underwriting costs | 43 | 0 | 230 | 0 |
| Depreciation and amortization | 871 | 507 | 2,587 | 1,513 |
| Other administrative expenses | 1,726 | 3,610 | 5,839 | 7,315 |
| Operating expenses | $ 55,204 | $ 47,690 | $ 162,258 | $ 139,219 |
| X | ||||||||||
- Definition Represents the value of change in fair value of short term investments. No definition available.
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- Definition Represents the value of change in fair value of subsidiary convertible note. No definition available.
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- Definition Amount of fees from providing distribution services, including but not limited to, marketing and selling fund shares, advertising, printing and mailing of prospectuses and sales literature to investors. No definition available.
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- Definition Revenues from providing transfer agent services to corporations. Such services include maintaining records of investors and account balances and transactions, canceling and issuing certificates, processing investor mailings and dealing with any associated problems (i.e. lost or stolen certificates). No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense and amount of debt issuance costs. No definition available.
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- Definition Costs incurred and are directly related to generating license and registration revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. No definition available.
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- Definition Costs incurred and are directly related to generating occupancy revenues. No definition available.
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- Definition Amount, after sales adjustments, returns, allowances, and discounts, of revenue classified as other. No definition available.
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- Definition Aggregate revenue during the period from product services rendered in the normal course of business, after deducting allowances and discounts. No definition available.
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- Definition Revenue from tax preparation and accounting. No definition available.
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- Definition Revenue from Transfer fees and clearing fees. Transfer fees and clearing services are charged by an exchange for each contract and trade cleared. There are also Transfer fees and clearing services associated with deliveries, creation of a futures position resulting from an option exercise or assignment, Exchange for Physicals (EFP), block trades, transfer trades and adjustments. No definition available.
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- Definition The amount of expense in the period for clearance fees. No definition available.
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- Definition The amount of expense incurred in the period for communication, which is the exchange of information by several methods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Includes (1) underwriting revenue (the spread between the resale price received and the cost of the securities and related expenses) generated through the purchasing, distributing and reselling of new issues of securities (alternatively, could be a secondary offering of a large block of previously issued securities); and (2) fees earned for mergers, acquisitions, divestitures, restructurings, and other types of financial advisory services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income and dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of general and administrative expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of other expense that is infrequent in occurrence or unusual in nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Costs incurred during the period, such as those relating to general administration and policy maintenance that do not vary with and are not primarily related to the acquisition or renewal of insurance contracts. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of purchased research and development assets that are acquired in a business combination have no alternative future use and are therefore written off in the period of acquisition. No definition available.
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Primarily represents commissions incurred in the period based upon the sale by commissioned employees or third parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by third parties (such as a distributor or value added reseller). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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- Details
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