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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 59,149 $ 53,557 $ 104,158 $ 104,351
Cost of revenues:        
Total cost of revenues 36,109 34,661 63,726 67,268
Gross profit 23,040 18,896 40,432 37,083
Operating costs and expenses:        
Research and development 5,486 6,266 10,529 10,041
Sales and marketing 5,391 5,787 10,386 12,253
General and administrative 5,805 5,431 10,788 11,155
Depreciation and amortization 4,009 4,688 7,644 9,997
Impairment of capitalized software 0 0 420 504
Total operating costs and expenses 20,691 22,172 39,767 43,950
Operating income (loss) 2,349 (3,276) 665 (6,867)
Other (expense) income:        
Interest expense, net (1,774) (2,014) (3,948) (4,011)
Other income (expense), net 355 658 (5) 1,453
Income (Loss) before income taxes 930 (4,632) (3,288) (9,425)
Income tax provision 306 304 543 616
Net income (loss) 624 (4,936) (3,831) (10,041)
Preferred stock dividends (808) (739) (1,598) (1,462)
Net loss attributable to common stockholders $ (184) $ (5,675) $ (5,429) $ (11,503)
Net loss per common share        
Basic (in dollars per share) [1] $ (0.02) $ (0.51) $ (0.46) $ (1.05)
Diluted (in dollars per share) [1] $ (0.02) $ (0.51) $ (0.46) $ (1.05)
Weighted-average shares used in computation of net loss per common share:        
Basic (in shares) [1] 11,894,746 11,108,029 11,887,233 10,984,794
Diluted (in shares) [1] 11,894,746 11,108,029 11,887,233 10,984,794
Other comprehensive loss:        
Foreign currency translation adjustment $ (355) $ (619) $ (93) $ (525)
Comprehensive income (loss) 269 (5,555) (3,924) (10,566)
Product        
Revenues:        
Total revenues 39,196 38,400 68,648 73,310
Cost of revenues:        
Total cost of revenues 30,507 30,620 53,220 58,587
Mobile solutions        
Revenues:        
Total revenues 25,879 18,895 41,149 41,935
Fixed wireless access solutions        
Revenues:        
Total revenues 13,317 19,505 27,499 31,375
Services and other        
Revenues:        
Total revenues 19,953 15,157 35,510 31,041
Cost of revenues:        
Total cost of revenues $ 5,602 $ 4,041 $ 10,506 $ 8,681
[1] Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1