XML 24 R9.htm IDEA: XBRL DOCUMENT

Details of Certain Financial Statement Components

3 Months Ended

Mar. 31, 2024

Details of Certain Financial Statement Components

Details of Certain Financial Statement Components

Note 2 – Details of Certain Financial Statement Components

Inventories, stated at the lower of cost or net realizable value, consisted of the following:


	March 31,		December 31,
	2024		2023

Inventories	(in thousands)
Raw materials	$	2,049	$	1,986
Work-in-process		225		232
Finished goods		296		258
Total inventories	$	2,570	$	2,476

Property, plant and equipment, net, consisted of the following:


	March 31,		December 31,
	2024		2023

Property, plant and equipment, net	(in thousands)
Furniture, machinery and equipment	$	2,014	$	2,009
Leasehold improvements		406		412
		2,420		2,421
Less: accumulated depreciation		(2,131)		(2,108)
Total property, plant and equipment, net	$	289	$	313

Depreciation expense totaled $40,000 and $37,000 for the three months ended March 31, 2024 and 2023, respectively.

Intangible assets, net, consisted of the following:


	Weighted
	Average
	Amortization	March 31,		December 31,
	Period	2024		2023

Intangible assets, net		(in thousands)
Patents, tradenames, and trademarks	5 years	$	932	$	935
Developed technology	3.5 years		538		543
Customer relationships	6 years		1,433		1,449
Non-compete agreements	4 years		920		930
Order backlog	0.5 years		22		22
In-process research and development	Indefinite		29		29
			3,874		3,908
Less: accumulated amortization			(1,437)		(1,254)
Total intangible assets, net		$	2,437	$	2,654

Amortization expense totaled $189,000 and $12,000 for the three months ended March 31, 2024 and 2023, respectively. Future amortization expense on existing intangible assets is as follows:


Years ending December 31,	(in thousands)
2024 (remainder of year)	$	559
2025		663
2026		539
2027		332
2028		261
Thereafter		83
	$	2,437

The changes in the carrying amount of goodwill for the periods ended March 31, 2024 and 2023 are as follows:


		(in thousands)
Balance as of January 1, 2024	$	2,461
Adjustment to goodwill, foreign currency exchange rate changes		(26)
Balance as of March 31, 2024	$	2,435


		(in thousands)
Balance as of January 1, 2023	$	650
Goodwill acquired in acquisition of Calman (before December 2023 adjustment to allocation)		4,052
Adjustment to goodwill, foreign currency exchange rate changes		154
Balance as of March 31, 2023	$	4,856

Accrued liabilities consisted of the following:


	March 31,		December 31,
	2024		2023

Accrued liabilities	(in thousands)
Accrued wages and benefits	$	146	$	204
Accrued vacation		190		185
Other accrued liabilities		80		103
Total accrued liabilities	$	416	$	492