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Note 7 - Restructuring Costs | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] |
7. | Restructuring Costs
On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify operational efficiencies and align its cost base and infrastructure with customer needs and its strategic plans. In order to realize these goals, the Company undertakes activities from time to time to optimize its business. During the year ended December 31, 2024 and 2023, the Company completed restructurings and incurred expenses of $0.8 million and $0.4 million, respectively. These costs primarily consisted of severance incurred in connection with headcount reductions in Europe and North America and purchase order cancellation costs. The changes in the accrued liabilities for restructuring and other charges for the years ended December 31, 2024 and 2023 were as follows:
(in thousands) |  | Inventory-Related |  |  | Severance |  |  | Other |  |  | Total |
Balance at December 31, 2022 |  | $ | - |  |  | $ | 636 |  |  | $ | - |  |  | $ | 636 |
Restructuring costs |  |  | 320 |  |  |  | 42 |  |  |  | 29 |  |  |  | 391 |
Non-cash charges |  |  | (142 | ) |  |  | - |  |  |  | - |  |  |  | (142 | )
Cash payments |  |  | (94 | ) |  |  | (678 | ) |  |  | (29 | ) |  |  | (801 | )
Balance at December 31, 2023 |  | $ | 84 |  |  | $ | - |  |  |  | - |  |  | $ | 84 |
Restructuring costs |  |  | 43 |  |  |  | 792 |  |  |  | - |  |  |  | 835 |
Non-cash charges |  |  | (27 | ) |  |  | - |  |  |  | - |  |  |  | (27 | )
Cash payments |  |  | (100 | ) |  |  | (711 | ) |  |  | - |  |  |  | (811 | )
Effect of change in currency translation |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 1 |
Balance at December 31, 2024 |  | $ | - |  |  | $ | 82 |  |  | $ | - |  |  | $ | 82 |
The severance and other costs detailed above have been included as a component of other operating expenses, and all inventory-related charges are included in cost of revenues.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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