v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 10,219 $ 12,598
Accounts receivable, net of allowance for credit losses 1,406 2,149
Contract assets 5,180 2,226
Inventories 2,037 2,115
Other current assets 627 898
Total current assets 19,469 19,986
Property, plant and equipment, net 11,559 11,699
Other assets 52 1
Total assets 31,080 31,686
Current liabilities:    
Accounts payable 1,145 679
Accrued expenses 1,864 2,236
Current maturities of long-term debt 88 87
Contract liabilities 1,832 3,135
Total current liabilities 4,929 6,137
Long-term debt, net of current portion 159 181
Total liabilities 5,088 6,318
Contingencies – Note 11
Stockholders’ equity:    
Common stock - $0.01 par value – 20,000,000 shares authorized; 6,881,838 issued and outstanding at March 31, 2025 and December 31, 2024 69 69
Additional paid-in capital 30,021 29,757
Accumulated deficit (4,098) (4,458)
Total stockholders’ equity 25,992 25,368
Total liabilities and stockholders’ equity $ 31,080 $ 31,686