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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from operating activities:      
Net income / (loss) $ (3,268) $ 5,770 $ (4,827)
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:      
Depreciation of property, plant & equipment 569 404 1,532
Amortization of intangible assets 1 4 5
Write-off gain (2,240)
Interest and amortization of debt discount 689 355 167
Inventory valuation allowance 594 554 462
Income tax expense / (recovery) net of cash paid 225 (3,250) 6
Other non cash expenses /(income)      
Expenses settled in equity 153
Expenses accrued under noncurrent liabilities 882
Unrealized and non cash foreign currency transactions 112
Changes in operating assets and liabilities, net of effects of businesses acquired / divested      
Decrease (increase) in accounts receivables (2,834) 387 (400)
Decrease (increase) in inventories 2,319 (5,354) (698)
Decrease (increase) in other current assets and prepaids, net 275 (778) 172
Decrease (increase) in deferred research & development tax credits, net (1,026) 154 464
Decrease (increase) in other noncurrent assets, net (6) 5 4
Increase (decrease) in accounts payable 39 (521) 522
Increase (decrease) in deferred revenue, current (150)
Increase (decrease) in income tax payable (45) 44 3
Increase (decrease) in other current liabilities (10) (31) (413)
Increase (decrease) in defined benefit pension liability 31 (179) (440)
Increase (decrease) in interest owed to related parties 35 164 (54)
Increase (decrease) in net balance owed to related parties, excluding debt and interest on debt 1,347 1,836 281
Net cash provided by / (used in) operating activities (3,040) 446 (3,364)
Cash Flows from investing activities:      
Sale / (acquisition) of property, plant and equipment (3,021) (299) (36)
Net cash provided by / (used in) investing activities (3,021) (299) (36)
Cash Flows from financing activities:      
Proceeds from debt 1,750 3,464
Payments of debt issue costs (680)
Proceeds from convertible loan issuance 9,600
Net cash provided by / (used in) financing activities 8,920 1,750 3,464
Effect of exchange rate changes on cash and cash equivalents (21) 96 170
Cash and cash equivalents      
Net increase / (decrease) during the period 2,838 1,993 234
Balance, beginning of period 4,057 2,064 1,830
Cash and cash equivalents balance, end of period 6,895 4,057 2,064
Supplemental cash flow information      
Cash paid for income tax 4
Noncash conversion of convertible loans into common stock 8,175
Recapitalization by WISeKey International Holding Ltd (0) 7,348 (0)
ROU assets obtained from operating lease $ 65 $ 56 $ 33