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ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS | A summary of immaterial corrections to the Company’s previously issued consolidated balance sheet are as follows (in thousands):
| 12/31/2023
| As reported | Adjustments | As revised
Accounts receivable – trade, net of allowances | $ | 29,523 |  | $ | 3,145 |  | $ | 32,668 |
Prepaid expenses and other current assets | 9,471 |  | 57 |  | 9,528 |
Total assets | 158,571 |  | 3,202 |  | 161,773 |
Other short-term liabilities | 1,566 |  | 3,202 |  | 4,768 |
Total current liabilities | 46,232 |  | 3,202 |  | 49,434 |
Total liabilities | 113,311 |  | 3,202 |  | 116,513 |
Total stockholders’ (deficit) equity | 158,571 |  | 3,202 |  | 161,773 |
A summary of immaterial corrections to the Company’s previously issued consolidated statements of cash flows are as follows (in thousands):
| December 31, 2023
| As reported | Adjustments | As revised
Change in allowance for sales returns and volume rebate | $ | 1,356 |  | $ | 74 |  | $ | 1,430 |
Accounts receivable – trade | 781 |  | (18) |  | 763 |
Prepaid expenses and other current assets | (1,874) |  | (56) |  | (1,930) |
SCHEDULE OF FINANCIAL LIABILITIES MEASURED ON A RECURRING BASIS | The following tables set forth, by level within the fair value hierarchy, the Company’s financial liabilities that were accounted for at fair value on a recurring basis as of December 31, 2024 and 2023 (in thousands):
Description |  | Markets for Identical Assets (Level 1) |  | Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Carrying Value as of December 31, 2024
Derivative liabilities - warrant instruments |  | — |  |  | — |  |  | $ | 1 |  |  | $ | 1 |
Long-term incentive plan |  | $ | — |  |  | $ | — |  |  | $ | 358 |  |  | $ | 358 |
Description |  | Markets for Identical Assets (Level 1) |  | Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Carrying Value as of December 31, 2023
Derivative liabilities - warrant instruments |  | $ | — |  |  | $ | — |  |  | $ | 205 |  |  | $ | 205 |
SCHEDULE OF DERIVATIVE INSTRUMENTS | The following tables reconcile the beginning and ending balances of the warrant instruments and long-term incentive plan within Level 3 of the fair value hierarchy, respectively:
| Derivative Liabilities (in thousands) | Long-term incentive plan (in thousands)
Balance, December 31, 2023 | $ | 205 |  | $ | — |
Change in fair value | (204) |  | 358
Balance, December 31, 2024 | $ | 1 |  | $ | 358 |
| (in thousands) | (in thousands)
Balance, December 31, 2022 | $ | 472 |  | $ | — |
Change in fair value | (267) |  | — |
Balance, December 31, 2023 | $ | 205 |  | $ | — |
SCHEDULE OF DISAGGREGATED REVENUE |
| Year Ended December 31, (in thousands)
| 2024 |  | 2023
Product revenues: |  |  |
Hardware | $ | 124,378 |  |  | $ | 163,948 |
Software and embedded firmware | 1,198 |  |  | 2,402 |
Service revenues: |  |  |
Professional services | 903 |  |  | 1,480 |
Maintenance and subscription services | 9,414 |  |  | 8,891 |
| $ | 135,893 |  |  | $ | 176,721 |

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