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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 24,185 $ 22,207
Restricted cash 944 944
Accounts receivable, net of allowance of $987 and $817 in 2021 and 2020, respectively 90 186
Income tax receivable 342 1,008
Inventories, net 12,020 12,827
Prepaid expenses and other current assets 2,888 2,962
Deferred commissions 2,369 2,343
Total current assets 42,838 42,477
Property and equipment, net 2,882 4,494
Construction in progress 1,357 864
Long-term restricted cash 503 4,346
Other assets 9,220 11,977
Deferred Tax Assets, Net 2,825 1,175
Total assets 59,625 65,333
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Current portion of finance leases 68 76
Accounts payable 3,969 4,797
Accrued expenses 9,224 8,691
Commissions and incentives payable 9,611 10,998
Taxes payable 2,154 1,400
Current notes payable 205 553
Deferred revenue 4,867 5,472
Total current liabilities 30,098 31,987
Finance leases, excluding current portion 66 129
Deferred tax liabilities 3 3
Other long-term liabilities 5,049 7,245
Total liabilities 35,213 39,361
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding 0 0
Common stock, $0.0001 par value, 99,000,000 shares authorized, 2,742,857 shares issued and 1,940,687 shares outstanding as of December 31, 2021 and 2,742,857 shares issued and 2,071,081 shares outstanding as of December 31, 2020 0 0
Additional paid-in capital 33,277 33,795
Retained earnings 7,708 2,213
Accumulated other comprehensive income 2,342 5,150
Treasury stock, at average cost, 802,170 shares as of December 31, 2021 and 671,776 shares as of December 31, 2020 (18,915) (15,186)
Total shareholders’ equity 24,412 25,972
Total liabilities and shareholders’ equity $ 59,625 $ 65,333