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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenues $ 49,742 $ 47,268 $ 136,267 $ 145,870
Cost of sales 40,623 38,221 109,159 131,037
Gross profit 9,119 9,047 27,108 14,833
Operating costs and expenses:        
Selling, general, and administrative 5,714 6,526 18,056 21,303
Depreciation 220 181 662 530
Research and development 462 757 1,349 2,231
Severance costs 0 2 23 (28)
Gain on sale of property and equipment 0 (38) (34) (38)
Gain in fair value of Contract Consideration Convertible Notes Payable 0 0 0 (29,969)
Total operating costs and expenses 6,396 7,428 20,056 (5,971)
Income from operations 2,723 1,619 7,052 20,804
Other income (expense):        
Paycheck protection plan loan forgiveness 0 0 0 4,522
Interest expense (256) (160) (842) (2,537)
Other income, net 102 (91) 151 (82)
Total other income (expense) (154) (251) (691) 1,903
Income before income taxes 2,569 1,368 6,361 22,707
Income tax expense (37) (81) (293) (98)
Net income $ 2,532 $ 1,287 $ 6,068 $ 22,609
Income (loss) per common share (As adjusted, see Note 14):        
Basic (in dollars per share) $ 0.09 $ 0.04 $ 0.21 $ 0.97
Diluted (in dollars per share) $ 0.08 $ 0.04 $ 0.20 $ (0.18)
Weighted average common shares (As adjusted, see Note 14):        
Weighted average common shares used in computing basic income (loss) per common share (in shares) 29,613 29,358 29,498 23,291
Weighted average common shares used in computing diluted income (loss) per common share (in shares) 30,897 30,688 30,655 28,034
Nonrelated Party        
Revenue:        
Total revenues $ 16,565 $ 17,806 $ 47,935 $ 47,278
Cost of sales 14,996 14,399 45,436 42,471
Related Party        
Revenue:        
Total revenues $ 33,177 $ 29,462 $ 88,332 $ 98,592