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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 11,441 $ 11,294
Marketable securities 55,196 58,477
Accounts receivable, net of allowance for credit losses of $1,138 and $1,168 as of March 31, 2024 and December 31, 2023, respectively 25,965 25,670
Inventories 19,089 19,046
Prepaid expenses and other current assets 4,224 4,331
Total current assets 115,915 118,818
Property and equipment, net 46,230 47,680
Intangible assets, net 1,105 1,194
Right of use assets 1,621 1,068
Other non-current assets 3,270 3,618
Deferred income tax asset 221 256
Total assets 168,362 172,634
Current liabilities:    
Accounts payable 6,945 4,780
Accrued airtime 1,105 5,508
Accrued compensation and employee-related expenses 4,567 4,466
Accrued loss on future firm purchase commitments 3,569 3,569
Accrued other 1,912 2,588
Accrued product warranty costs 726 828
Deferred revenue 2,167 1,774
Current operating lease liability 1,211 786
Liability for uncertain tax positions 693 673
Total current liabilities 22,895 24,972
Long-term operating lease liability 398 289
Deferred income tax liability 2 1
Total liabilities 23,295 25,262
Commitments and contingencies (Notes 2, 10, and 15)
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; 21,205,364 and 21,066,899 shares issued at March 31, 2024 and December 31, 2023, respectively; and 19,749,255 and 19,610,790 shares outstanding at March 31, 2024 and December 31, 2023, respectively 212 211
Additional paid-in capital 165,768 165,140
Accumulated deficit (4,867) (1,704)
Accumulated other comprehensive loss (3,956) (4,185)
Total stockholders equity before treasury stock adjustment 157,157 159,462
Less: treasury stock at cost, common stock, 1,456,109 and 1,456,109 shares as of March 31, 2024 and December 31, 2023, respectively. (12,090) (12,090)
Total stockholders’ equity 145,067 147,372
Total liabilities and stockholders’ equity $ 168,362 $ 172,634