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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 11,294 $ 21,056
Marketable securities 58,477 55,680
Accounts receivable, net of allowance for credit losses of $1,168 and $1,268 as of December 31, 2023 & December 31, 2022, respectively 25,670 27,427
Inventories 19,046 22,730
Prepaid expenses and other current assets 4,331 3,067
Total current assets 118,818 129,960
Property and equipment, net 47,680 53,118
Intangible assets, net 1,194 404
Goodwill 0 5,308
Right of use assets 1,068 2,168
Other non-current assets 3,618 5,037
Deferred income tax asset 256 259
Total assets 172,634 196,254
Current liabilities:    
Accounts payable 4,780 20,449
Accrued airtime 5,508 2,108
Accrued compensation and employee-related expenses 4,466 7,621
Accrued loss on future firm purchase commitments 3,569 0
Accrued other 2,588 2,126
Accrued product warranty costs 828 1,287
Deferred revenue 1,774 1,365
Current operating lease liability 786 1,532
Liability for uncertain tax positions 673 637
Total current liabilities 24,972 37,125
Long-term operating lease liability 289 636
Deferred income tax liability 1 55
Total liabilities 25,262 37,816
Commitments and contingencies (Notes 1, 5, 12 and 13)
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, 21,066,899 and 20,631,152 shares issued at December 31, 2023 and December 31, 2022, respectively; and 19,610,790 and 19,198,458 shares outstanding at December 31, 2023 and December 31, 2022, respectively 211 206
Additional paid-in capital 165,140 160,475
(Accumulated deficit) retained earnings (1,704) 13,718
Accumulated other comprehensive loss (4,185) (4,110)
Total stockholders equity before treasury stock adjustment 159,462 170,289
Less: treasury stock at cost, common stock, 1,456,109 and 1,432,694 shares as of December 31, 2023 and December 31, 2022, respectively (12,090) (11,851)
Total stockholders’ equity 147,372 158,438
Total liabilities and stockholders’ equity $ 172,634 $ 196,254