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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 9,374 $ 13,777
Restricted cash 938 944
Accounts receivable, net of allowance of $1,109 and $973 in 2023 and 2022, respectively 645 218
Income tax receivable 422 423
Inventories, net 15,838 14,726
Prepaid expenses and other current assets 2,183 2,389
Deferred commissions 1,852 2,476
Total current assets 31,252 34,953
Property and equipment, net 4,689 3,759
Long-term restricted cash 460 476
Other assets 7,834 8,439
Deferred tax assets, net 1,164 1,501
Total assets 45,399 49,128
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Current portion of finance leases 274 61
Accounts payable 5,825 4,361
Accrued expenses 6,930 7,510
Commissions and incentives payable 8,734 9,256
Taxes payable 1,738 3,281
Current notes payable 411 263
Deferred revenue 4,330 5,106
Total current liabilities 28,242 29,838
Finance leases, excluding current portion 1,115 88
Other long-term liabilities 4,400 5,026
Total liabilities 33,757 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 1,866,212 shares outstanding as of June 30, 2023 and 2,742,857 shares issued and 1,858,800 shares outstanding as of December 31, 2022 0 0
Additional paid-in capital 33,294 33,377
Retained earnings 437 1,686
Accumulated other comprehensive (loss) income (1,658) (208)
Treasury stock, at average cost, 876,645 shares as of June 30, 2023 and 884,057 shares as of December 31, 2022 (20,431) (20,679)
Total shareholders’ equity 11,642 14,176
Total liabilities and shareholders’ equity $ 45,399 $ 49,128