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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 72,804 $ 50,572
Accounts receivable, net of allowance for credit losses of $833 and $1,006 as of September 30, 2025 and December 31, 2024, respectively 24,302 21,624
Inventories 13,394 22,953
Prepaid expenses and other current assets 9,200 16,016
Current assets held for sale 0 11,410
Total current assets 119,700 122,575
Property and equipment, net 22,295 27,014
Intangible assets, net 537 828
Right of use assets 4,636 1,361
Other non-current assets 2,972 3,146
Deferred income tax asset 141 157
Total assets 150,281 155,081
Current liabilities:    
Accounts payable 4,012 4,316
Accrued airtime 1,365 745
Accrued compensation and employee-related expenses 4,253 4,728
Accrued loss on future firm purchase commitments 0 919
Accrued other 2,105 2,134
Accrued product warranty costs 754 607
Deferred revenue 1,346 1,039
Current operating lease liability 591 660
Liability for uncertain tax positions 788 724
Total current liabilities 15,214 15,872
Long-term operating lease liability 4,017 569
Deferred income tax liability 3 15
Total liabilities 19,234 16,456
Commitments and contingencies (Notes 2, 11, and 16)
Stockholders’ equity:    
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; none issued 0 0
Common stock, $0.01 par value. Authorized 30,000,000 shares; 21,293,839 and 21,240,525 shares issued at September 30, 2025 and December 31, 2024, respectively; and 19,573,517 and 19,784,416 shares outstanding at September 30, 2025 and December 31, 2024, respectively 213 212
Additional paid-in capital 168,470 167,287
Accumulated deficit (20,466) (12,752)
Accumulated other comprehensive loss (3,708) (4,032)
Total stockholders equity before treasury stock adjustment 144,509 150,715
Less: treasury stock at cost, common stock, 1,720,322 and 1,456,109 shares as of September 30, 2025 and December 31, 2024, respectively. (13,462) (12,090)
Total stockholders’ equity 131,047 138,625
Total liabilities and stockholders’ equity $ 150,281 $ 155,081