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Details of Certain Financial Statement Components | 6 Months Ended
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Jun. 30, 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Inventories |  | (in thousands)
Raw materials |  | $ | 2,030 |  | $ | 1,986
Work-in-process | ​ | ​ | 217 | ​ | ​ | 232
Finished goods | ​ | ​ | 308 | ​ | ​ | 258
Total inventories |  | $ | 2,555 |  | $ | 2,476
​ Property, plant and equipment, net, consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Property, plant and equipment, net | ​ | (in thousands)
Furniture, machinery and equipment | ​ | $ | 1,852 | ​ | $ | 2,009
Leasehold improvements | ​ |  | 404 | ​ |  | 412
​ | ​ |  | 2,256 | ​ |  | 2,421
Less: accumulated depreciation | ​ |  | (2,002) | ​ |  | (2,108)
Total property, plant and equipment, net | ​ | $ | 254 | ​ | $ | 313
​ Depreciation expense totaled $37,000 and $46,000 for the three months ended June 30, 2024 and 2023, respectively. Depreciation expense totaled $77,000 and $83,000 for the six months ended June 30, 2024 and 2023, respectively. Intangible assets, net, consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortization | ​ | June 30, | ​ | December 31,
​ |  | Period |  | 2024 |  | 2023
Intangible assets, net | ​ | ​ | ​ | (in thousands)
Patents, tradenames, and trademarks | ​ | 5 years | ​ | $ | 932 | ​ | $ | 935
Developed technology | ​ | 3.5 years | ​ | ​ | 539 | ​ | ​ | 543
Customer relationships | ​ | 6 years | ​ | ​ | 1,435 | ​ | ​ | 1,449
Non-compete agreements | ​ | 4 years | ​ | ​ | 921 | ​ | ​ | 930
Order backlog | ​ | 0.5 years | ​ | ​ | 22 | ​ | ​ | 22
In-process research and development | ​ | Indefinite | ​ | ​ | 29 | ​ | ​ | 29
​ | ​ | ​ | ​ | ​ | 3,878 | ​ | ​ | 3,908
Less: accumulated amortization | ​ | ​ | ​ |  | (1,627) | ​ |  | (1,254)
Total intangible assets, net | ​ | ​ | ​ | $ | 2,251 | ​ | $ | 2,654
​ Amortization expense totaled $189,000 and $94,000 for the three months ended June 30, 2024 and 2023, respectively. Amortization expense totaled $378,000 and $106,000 for the six months ended June 30, 2024 and 2023, respectively. Future amortization expense on existing intangible assets is as follows: ​
​ | ​ | ​ | ​
Years ending December 31, |  | (in thousands)
2024 (remainder of year) | ​ | $ | 373
2025 | ​ |  | 662
2026 | ​ |  | 540
2027 | ​ |  | 333
2028 | ​ |  | 261
Thereafter | ​ | ​ | 82
​ | ​ | $ | 2,251
​ The changes in the carrying amount of goodwill for the periods ended June 30, 2024 and 2023 are as follows: ​
​ | ​ | ​ | ​
​ |  | ​ | (in thousands)
Balance as of January 1, 2024 | ​ | $ | 2,461
Adjustment to goodwill, foreign currency exchange rate changes | ​ |  | (23)
Balance as of June 30, 2024 | ​ | $ | 2,438
​
​ | ​ | ​ | ​
​ |  | ​ | (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 | ​ | ​ | (157)
Balance as of June 30, 2023 |  | $ | 4,545
​ Accrued liabilities consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Accrued liabilities | ​ | (in thousands)
Accrued wages and benefits | ​ | $ | 158 | ​ | $ | 204
Accrued vacation | ​ |  | 164 | ​ |  | 185
Other accrued liabilities | ​ |  | 107 | ​ |  | 103
Total accrued liabilities | ​ | $ | 429 | ​ | $ | 492
​

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