v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 1,646 $ 4,468
Restricted cash 0 52
Accounts receivable, net of allowance for credit losses of $9 and $41, respectively 8,765 1,626
Inventories, net of allowance for obsolescence of $247 and $100, respectively 21,324 11,074
Prepaid expense and other current assets 1,334 923
Total current assets 33,069 18,143
Property and equipment, net 128 75
Right of use asset 682 412
Intangibles, net of amortization of $500 and $152, respectively 51,440 26,235
Goodwill 19,393 13,022
Deferred tax asset 1,525 644
Other assets 83 0
TOTAL ASSETS 106,320 58,531
CURRENT LIABILITIES:    
Accounts payable 6,911 4,067
Accrued expense 5,429 684
Income taxes payable 1,704 1,415
Product returns 1,039 564
Term loan – current portion 6,094 4,500
Lease liability – current portion 433 81
Total current liabilities 21,610 11,311
Revolving line of credit 5,600 0
Term loan, net of current portion and unamortized deferred finance costs 32,849 8,550
Long-term lease liability, net of current portion 272 331
Derivative liability 26 0
Deferred tax liability 2,324 2,213
TOTAL LIABILITIES 62,681 22,405
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value, 10,000 shares authorized, none outstanding as of December 31, 2025 and 2024 0 0
Common stock, $0.01 par value, 120,000 shares authorized; 9,391 and 9,210 issued and outstanding as of December 31, 2025 and 2024 94 92
Additional paid-in capital 32,213 31,129
Retained earnings 11,893 5,567
Accumulated other comprehensive loss (561) (662)
TOTAL STOCKHOLDERS' EQUITY 43,639 36,126
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 106,320 $ 58,531