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Note 7 - Restructuring Costs
 12 Months Ended
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.