Details of Certain Financial Statement Components

6 Months Ended

Jun. 30, 2023

Details of Certain Financial Statement Components

Details of Certain Financial Statement Components

Note 2 – Details of Certain Financial Statement Components

Inventories, stated at the lower of cost or net realizable value, consisted of the following:

	June 30,		December 31,
	2023		2022
Inventories	(in thousands)
Raw materials	$	2,539	$	1,635
Work-in-process		200		192
Finished goods		201		285
Total inventories	$	2,940	$	2,112

Property, plant and equipment, net, consisted of the following:

	June 30,		December 31,
	2023		2022
Property, plant and equipment, net	(in thousands)
Furniture, machinery and equipment	$	1,905	$	1,688
Leasehold improvements		405		417
		2,310		2,105
Less: accumulated depreciation		(1,973)		(1,921)
Total property, plant and equipment, net	$	337	$	184

Depreciation expense totaled $46,000 and $50,000 for the three months ended June 30, 2023 and 2022, respectively. Depreciation expense totaled $83,000 and $102,000 for the six months ended June 30, 2023 and 2022, respectively.

Intangible assets, net consisted of the following:

	June 30,		December 31,
	2023		2022
Intangible assets, net	(in thousands)
Patents, tradenames, and trademarks	$	705	$	658
Developed technology		134		—
Customer relationships		96		—
Non-compete agreements		26		—
Order backlog		22		—
In-process research and development		29		—
		1,012		658
Less: accumulated amortization		(688)		(582)
Total intangible assets, net	$	324	$	76

Amortization expense totaled $94,000 and $13,000 for the three months ended June 30, 2023 and 2022, respectively. Amortization expense totaled $106,000 and $28,000 for the six months ended June 30, 2023 and 2022, respectively. Future amortization expense on existing intangible assets is as follows:

Years ending December 31,	(in thousands)
2023 (remainder of year)	$	70
2024		125
2025		48
2026		27
2027		25
Thereafter		29
	$	324

Accrued liabilities consisted of the following:

	June 30,		December 31,
	2023		2022
Accrued liabilities	(in thousands)
Accrued compensation and benefits	$	188	$	320
Accrued vacation		209		223
Other accrued liabilities		79		25
Total accrued liabilities	$	476	$	568