v3.25.2
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 5,028 $ 4,404
Restricted cash 103 102
Inventories, net 12,302 13,303
Other current assets 3,084 2,952
Current contract asset 6,743 5,939
Total current assets 86,831 96,456
Long-term contract asset 59,386 63,105
Property and equipment, net 21,223 6,178
Right-of-use assets 3,174 3,326
Deferred tax assets, net 35 51
Other long-term assets 1,594 1,680
TOTAL ASSETS 172,243 170,796
Current liabilities:    
Accounts payable 36,350 38,073
Income taxes payable 85 48
Interest payable, related party 701 0
Current portion of operating lease liabilities 1,186 1,486
Current portion of finance lease liabilities 146 0
Asset-based loan 5,055 4,789
Current portion of long-term debt 0 60
Total current liabilities 54,676 50,368
Deferred revenue, long-term 0 14
Note payable - related party, net of deferred financing costs 39,536 0
Long-term operating lease liabilities 5,879 6,514
Long-term finance lease liabilities 302 0
TOTAL LIABILITIES 100,393 56,896
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.0001 par value, 240,000,000 shares authorized; 30,968,827 shares issued and 29,854,440 shares outstanding at June 30, 2025; 30,938,073 shares issued and 29,826,508 shares outstanding at December 31, 2024 3 3
Additional paid-in capital 415,637 464,620
Accumulated other comprehensive income 96 251
Accumulated deficit (309,160) (316,308)
Treasury stock, at cost; 1,114,387 and 1,111,565 shares at June 30, 2025 and December 31, 2024, respectively (34,726) (34,666)
Total stockholders’ equity 71,850 113,900
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 172,243 170,796
Third Party    
Current assets:    
Accounts receivable 22,221 17,386
Current liabilities:    
Accrued liabilities 3,905 5,912
Related Party    
Current assets:    
Accounts receivable 37,350 52,370
Current liabilities:    
Accrued liabilities $ 7,248 $ 0