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Note 20 - Geographic and Segment Information | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 20. GEOGRAPHIC AND SEGMENT INFORMATION Operating segments are aggregated into reportable segments only if they exhibit similar economic characteristics. In addition to similar economic characteristics, the Company also considers the following factors in determining the reportable segments: the nature of business activities, the management structure directly accountable to its Chief Operating Decision Maker ("CODM") for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors and investors. Charles D. Goodwin, CEO, is the Company's CODM. The CODM uses gross profit to assess segment performance and allocate resources, including employees and capital resources. The Company has included additional financial measures regularly reported to the CODM on a segment basis in the tables below along with a reconciliation between these measures and net loss (income). All other operating expenses are not regularly reported to the CODM on a segment basis. Asset information is not reviewed by the CODM by segment and is not available by segment. Accordingly, the Company has not presented a measure of assets by segment. The Company’s reportable segments are disclosed as principally organized and managed as two operating segments: Advanced Energy and OEM. "Corporate & Other" includes certain unallocated corporate and administrative costs which were not specifically attributed to any reportable segment. The Advanced Energy segment is comprised primarily of sales of its Helium Plasma Technology products marketed and sold as Renuvion in the cosmetic surgery market. Renuvion and J-Plasma offer surgeons a unique ability to provide controlled heat to tissue to achieve their desired results. These sales consist of electrosurgical generators, single-use handpieces, accessories and related products sold in the cosmetic surgical market. The OEM segment is comprised primarily of sales related to the development and contract manufacturing of surgical devices, accessories and handpieces. Summarized financial information with respect to reportable segments is as follows:
|  | Year Ended December 31, 2024 |
(In thousands) |  | Advanced Energy |  |  | OEM |  |  | Corporate & Other |  |  | Total |
Sales |  | $ | 38,606 |  |  | $ | 9,496 |  |  | $ | — |  |  | $ | 48,102 |
Cost of sales |  |  | 11,259 |  |  |  | 7,483 |  |  |  | — |  |  |  | 18,742 |
Gross profit |  |  | 27,347 |  |  |  | 2,013 |  |  |  | — |  |  |  | 29,360 |
Commissions |  |  | 4,546 |  |  |  | — |  |  |  | — |  |  |  | 4,546 |
All other expenses(i) |  |  | 26,690 |  |  |  | 40 |  |  |  | 16,929 |  |  |  | 43,659 |
(Loss) income from operations |  |  | (3,889 | ) |  |  | 1,973 |  |  |  | (16,929 | ) |  |  | (18,845 | )
Interest income |  |  | — |  |  |  | — |  |  |  | 1,606 |  |  |  | 1,606 |
Interest expense |  |  | — |  |  |  | — |  |  |  | (5,907 | ) |  |  | (5,907 | )
Other loss, net |  |  | — |  |  |  | — |  |  |  | (161 | ) |  |  | (161 | )
(Loss) income before income taxes |  |  | (3,889 | ) |  |  | 1,973 |  |  |  | (21,391 | ) |  |  | (23,307 | )
Income tax expense |  |  | — |  |  |  | — |  |  |  | 252 |  |  |  | 252 |
Net (loss) income |  |  | (3,889 | ) |  |  | 1,973 |  |  |  | (21,643 | ) |  |  | (23,559 | )
|  | Year Ended December 31, 2023 |
(In thousands) |  | Advanced Energy |  |  | OEM |  |  | Corporate & Other |  |  | Total |
Sales |  | $ | 43,382 |  |  | $ | 8,967 |  |  | $ | — |  |  | $ | 52,349 |
Cost of sales |  |  | 12,166 |  |  |  | 6,424 |  |  |  | — |  |  |  | 18,590 |
Gross profit |  |  | 31,216 |  |  |  | 2,543 |  |  |  | — |  |  |  | 33,759 |
Commissions |  |  | 6,515 |  |  |  | — |  |  |  | — |  |  |  | 6,515 |
All other expenses (i) |  |  | 25,657 |  |  |  | 19 |  |  |  | 21,519 |  |  |  | 47,195 |
Gain on sale-leaseback |  |  | — |  |  |  | — |  |  |  | (2,692 | ) |  |  | (2,692 | )
(Loss) income from operations |  |  | (956 | ) |  |  | 2,524 |  |  |  | (18,827 | ) |  |  | (17,259 | )
Interest income |  |  | — |  |  |  | — |  |  |  | 921 |  |  |  | 921 |
Interest expense |  |  | — |  |  |  | — |  |  |  | (2,478 | ) |  |  | (2,478 | )
Other income, net |  |  | — |  |  |  | — |  |  |  | 622 |  |  |  | 622 |
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | (3,088 | ) |  |  | (3,088 | )
(Loss) income before income taxes |  |  | (956 | ) |  |  | 2,524 |  |  |  | (22,850 | ) |  |  | (21,282 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  | (2,432 | ) |  |  | (2,432 | )
Net (loss) income |  |  | (956 | ) |  |  | 2,524 |  |  |  | (20,418 | ) |  |  | (18,850 | )
(i) For the Advanced Energy segment, all other expenses includes salaries and related costs, research and development, professional services, including marketing and physician consulting, and other selling, general, and administrative expenses such as travel and entertainment, advertising, trade show fees and meeting and training costs. For the OEM segment, substantially all related expenses are recorded as cost of sales, therefore no significant segment specific operating expenses are incurred. For Corporate & Other, all other expenses includes salaries and related costs, professional services, including legal, accounting and audit fees, investor relations consulting, information technology consulting, board of directors’ stock compensation expense, and general and administrative expenses, such as insurance, building lease costs, depreciation and computer software. International sales in 2024 and 2023, were 29.3% and 26.8% of sales, respectively. Revenue by geographic region, based on the "ship to" location on the invoice are as follows:
|  | Year Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Sales by Domestic and International |  |  |  |  |  |  |  |
Domestic |  | $ | 34,022 |  |  | $ | 38,345 |
International |  |  | 14,080 |  |  |  | 14,004 |
Total |  | $ | 48,102 |  |  | $ | 52,349 |
Tangible long-lived assets by geographic location are as follows:
|  | Year Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Long-lived assets by Domestic and International |  |  |  |  |  |  |  |
Domestic |  | $ | 5,532 |  |  | $ | 5,728 |
International |  |  | 1,206 |  |  |  | 1,418 |
Total |  | $ | 6,738 |  |  | $ | 7,146 |

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- Definition The entire disclosure for reporting segments including data and tables. 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