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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 23,359 $ 24,185
Restricted cash 944 944
Accounts receivable, net of allowance of $991 and $987 in 2022 and 2021, respectively 91 90
Income tax receivable 385 342
Inventories, net 12,591 12,020
Prepaid expenses and other current assets 3,798 2,888
Deferred commissions 3,103 2,369
Total current assets 44,271 42,838
Property and equipment, net 2,591 2,882
Construction in progress 1,507 1,357
Long-term restricted cash 503 503
Other assets 9,528 9,220
Deferred tax assets, net 2,740 2,825
Total assets 61,140 59,625
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Current portion of finance leases 60 68
Accounts payable 5,122 3,969
Accrued expenses 8,407 9,224
Commissions and incentives payable 9,629 9,611
Taxes payable 1,756 2,154
Current notes payable 608 205
Deferred revenue 6,617 4,867
Total current liabilities 32,199 30,098
Finance leases, excluding current portion 69 66
Other long-term liabilities 5,142 5,049
Total liabilities 37,410 35,213
Commitments and contingencies
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 1,949,716 shares outstanding as of March 31, 2022 and 2,742,857 shares issued and 1,940,687 shares outstanding as of December 31, 2021 0 0
Additional paid-in capital 33,359 33,277
Retained earnings 7,452 7,708
Accumulated other comprehensive income 1,669 2,342
Treasury stock, at average cost, 793,141 shares as of March 31, 2022 and 802,170 shares as of December 31, 2021 (18,750) (18,915)
Total shareholders’ equity 23,730 24,412
Total liabilities and shareholders’ equity $ 61,140 $ 59,625