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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 54,032 $ 41,357 $ 143,157 $ 131,367
Cost of revenues:        
Total cost of revenues 35,232 43,522 92,304 104,934
Gross profit (loss) 18,800 (2,165) 50,853 26,433
Operating costs and expenses:        
Research and development 5,176 5,200 15,032 14,369
Sales and marketing 4,125 3,893 12,176 13,703
General and administrative 4,822 3,429 12,695 12,326
Depreciation and amortization 3,154 3,848 10,098 13,125
Impairment of capitalized software 507 611 927 1,115
Total operating costs and expenses 17,784 16,981 50,928 54,638
Operating income (loss) 1,016 (19,146) (75) (28,205)
Other (expense) income:        
Interest expense, net (5,731) (2,894) (9,686) (6,910)
Loss on extinguishment of revolving credit facility 0 0 (788) 0
Gain on debt restructurings, net 12,366 0 13,690 0
Other income (expense), net (72) 45 (864) 50
Income (Loss) before income taxes 7,579 (21,995) 2,277 (35,065)
Income tax provision 36 30 171 44
Income (Loss) from continuing operations 7,543 (22,025) 2,106 (35,109)
Income from discontinued operations (net of income tax provision (benefit) of $266, $(46), $674, and $555, respectively) 1,426 220 3,032 3,263
Net income (loss) 8,969 (21,805) 5,138 (31,846)
Preferred stock dividends (827) (756) (2,425) (2,218)
Net income (loss) attributable to common stockholders $ 8,142 $ (22,561) $ 2,713 $ (34,064)
Basic        
Continuing operations $ 0.54 $ (1.95) $ (0.03) $ (3.33)
Discontinued operations 0.12 0.02 0.25 0.29
Basic earnings per share (*) [1] 0.66 (1.93) 0.23 (3.03)
Diluted        
Continuing operations (0.16) (1.95) (0.03) (3.33)
Discontinued operations 0.11 0.02 0.25 0.29
Diluted earnings per share (*) [1] $ (0.06) $ (1.93) $ 0.23 $ (3.03)
Weighted-average shares used in computation of net earnings (loss) per share        
Basic (*) [1] 12,336,503 11,696,755 12,036,989 11,224,722
Diluted (*) [1] 13,218,293 11,696,755 12,036,989 11,224,722
Other comprehensive loss:        
Foreign currency translation adjustment $ (1,292) $ (433) $ (1,385) $ (958)
Comprehensive income (loss) 7,677 (22,238) 3,753 (32,804)
Mobile Solutions [Member]        
Revenues:        
Total revenues 32,282 22,534 73,431 64,469
Fixed Wireless Access Solutions [Member]        
Revenues:        
Total revenues 9,723 11,114 37,222 42,489
Product [Member]        
Revenues:        
Total revenues 42,005 33,648 110,653 106,958
Cost of revenues:        
Total cost of revenues 33,592 42,788 86,812 101,375
Services And Other [Member]        
Revenues:        
Total revenues 12,027 7,709 32,504 24,409
Cost of revenues:        
Total cost of revenues $ 1,640 $ 734 $ 5,492 $ 3,559
[1] Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1. Rounding may affect summation.