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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 13,682 $ 13,777
Restricted cash 944 944
Accounts receivable, net of allowance of $1,109 and $973 in 2023 and 2022, respectively 133 218
Income tax receivable 449 423
Inventories, net 15,320 14,726
Prepaid expenses and other current assets 3,402 2,389
Deferred commissions 2,525 2,476
Total current assets 36,455 34,953
Property and equipment, net 4,654 3,759
Long-term restricted cash 465 476
Other assets 8,082 8,439
Deferred tax assets, net 1,064 1,501
Total assets 50,720 49,128
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Current portion of finance leases 252 61
Accounts payable 5,663 4,361
Accrued expenses 6,990 7,510
Commissions and incentives payable 10,248 9,256
Taxes payable 1,980 3,281
Current notes payable 616 263
Deferred revenue 5,504 5,106
Total current liabilities 31,253 29,838
Finance leases, excluding current portion 1,040 88
Other long-term liabilities 4,575 5,026
Total liabilities 36,868 34,952
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 1,873,608 shares outstanding as of March 31, 2023 and 2,742,857 shares issued and 1,858,800 shares outstanding as of December 31, 2022 0 0
Additional paid-in capital 33,277 33,377
Retained earnings 1,915 1,686
Accumulated other comprehensive (loss) income (1,007) (208)
Treasury stock, at average cost, 869,249 shares as of March 31, 2023 and 884,057 shares as of December 31, 2022 (20,333) (20,679)
Total shareholders’ equity 13,852 14,176
Total liabilities and shareholders’ equity $ 50,720 $ 49,128