The Consolidated Statements of Cash Flows explain the changes in the total of cash, cash equivalents and restricted cash, such as

cash amounts deposited in restricted cash accounts in connection with the Company’s credit cards. The following table presents a

reconciliation of cash, cash equivalents and restricted cash, reported for each period within the Consolidated Balance Sheets and the


	December 31,
	2025	2024	2023
	(In thousands)
Cash and cash equivalents	$48,076	$29,627	$68,098
Restricted cash, non-current (included in other assets, non-current)	—	130	127
Total cash, cash equivalents and restricted cash	$48,076	$29,757	$68,225


	Years Ended December 31,
	2025	2024	2023
(In thousands)
Balance, beginning of year	$221	$138	$148
Changes to reserves (1)	114	206	73
Collection of specific reserves and uncollectible accounts written off, net of recoveries	—	(123)	(83)
Balance, end of year	$335	$221	$138


	December 31,
	2025	2024
	(In thousands)
Raw materials	$8,289	$8,829
Work in process	6,270	6,417
Finished goods	10,768	10,463
Inventories, gross	25,327	25,709
Valuation adjustments for excess and obsolete inventory	(1,067)	(803)
Inventories, net	$24,260	$24,906


	December 31,
	2025	2024
	(In thousands)
Machinery and equipment	$29,688	$29,718
Leasehold improvements	19,797	19,419
Software	1,895	1,895
Office equipment, furniture, and fixtures	3,009	2,930
Automobiles	416	417
Construction in progress	215	139
Total property and equipment	55,020	54,518
Less: Accumulated depreciation and amortization	(42,086)	(39,094)
Total property and equipment, net	$12,934	$15,424


	Years Ended December 31,
	2025	2024	2023
(In thousands)
Depreciation and amortization expense	$3,759	$4,046	$4,102

Goodwill is tested for impairment annually in the third quarter of the Company’s fiscal year or more frequently if indicators of potential

impairment exist. The Company monitors the industries in which it operates and reviews its business performance for indicators of potential

impairment. The recoverability of goodwill is measured at the reporting unit level, which represents the operating segment. The carrying

On July 1, 2025, the Company estimated the fair value of its reporting units using the discounted cash flow approach and market

approach. The forecast of future cash flows, which is based on the Company’s best estimate of future net sales and operating expenses, is

based primarily on expected category expansion, pricing, market segment, and general economic conditions. The Company incorporates

other significant inputs to its fair value calculations, including discount rate and market multiples, to reflect current market conditions. As a

result, the analysis performed indicated that the fair value of each reporting unit, that is allocated goodwill, significantly exceeds its carrying


	December 31,
	2025	2024
	(In thousands)
Accrued expenses and other liabilities, current
Payroll, benefits, incentives and commissions payable	$6,683	$10,179
Warranty reserve	205	1,090
Restructuring accrual	—	2,476
Income taxes payable	2,401	947
Other accrued expenses and other liabilities	2,381	3,036
Total accrued expenses and other liabilities	11,670	17,728

Other liabilities, non-current	1,070	57
Total accrued expenses, and current and non-current other liabilities	$12,740	$17,785

During the fourth quarter of fiscal year 2024, the Company implemented a restructuring plan which included reductions primarily within

the G&A function, in order to lower the Company’s operating cost structure, and to position the Company for profitable growth. The Company

recorded a restructuring charge of approximately $2.8 million in total, of which $0.3 million was recorded during the year ended December 31,

2025. The total restructuring charge recorded relates to severance and benefits, including reemployment assistance, for 38 terminated

employees, which was approximately 15% of the Company’s workforce. The restructuring plan was complete as of December 31, 2025. All

expenses associated with the Company’s restructuring plan are included in “Restructuring charges” in the Consolidated Statements of


	Segment		Corporate	Total Expense
	Water	Emerging Technology	Corporate	Total Expense
	(In thousands)
Amount recognized in 2024	1,147	832	497	2,476
Amount recognized in 2025	105	47	161	313
Total restructuring expenses recognized	$1,252	$879	$658	$2,789


		Severance and Benefits
		(In thousands)
Balance, as of December 31, 2024		$2,476
Restructuring provision, net of adjustments		313
Cash paid		(2,789)
Balance, as of December 31, 2025		$—

There were no reclassifications of amounts out of accumulated other comprehensive (loss) income for the years ended December 31,

2025 and 2024, as there have been no sales of securities or translation adjustments that impacted other comprehensive income (loss) during

these periods. For the year ended December 31, 2023, there was $3.0 million of securities sold and the reclassification to other

The tax impact of the changes in accumulated other comprehensive (loss) income for the years ended December 31, 2025, 2024 and

Advertising expense is charged to operations during the year in which it is incurred. Total advertising expense was not material for