v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Current assets                  
Cash $ 34,925 $ 46,491 $ 42,574 $ 38,711 $ 18,710 $ 27,529 $ 31,978 $ 38,696  
Receivables, net of allowance for credit losses of $2,551 and $3,402 40,405 49,461 [1],[2] 48,820 [1],[2] 51,163 [1],[2] 56,253 53,802 [1],[2],[3] 85,456 [1],[2] 96,709 [1],[2]  
Inventories, net 41,990 47,608 [2],[4],[5] 53,213 [2],[4],[5] 57,817 [2],[4],[5] 68,078 76,642 [2],[3],[4],[5] 78,772 [2],[4],[5] 65,177 [2],[4],[5]  
Income taxes receivable 1,369 1,119 4,653 278 222 982 98 122  
Prepaid expenses 11,667 7,597 [2],[6] 5,953 [2],[6] 9,733 [2],[6] 4,461 5,942 [2],[6] 5,111 [2],[6] 6,434 [2],[6]  
Other current assets 6,182 6,207 [2],[5] 6,143 [2],[5] 7,052 [2],[5] 7,682 8,542 [2],[5] 9,371 [2],[5] 9,587 [2],[5]  
Total current assets 136,538 158,483 161,356 164,754 155,406 173,439 210,786 216,725  
Noncurrent assets                  
Property and equipment, net 4,426 5,108 [6] 14,978 13,741 12,879 11,365 11,375 11,521  
Software, net 11,992 12,882 [6] 12,989 12,220 11,985 11,705 10,484 9,309  
Operating lease right-of-use assets 6,254 6,608 [6] 6,931 7,327 7,894 4,257 4,823 4,709  
Intangible assets, net 0 0 [6] 6,926 7,300 7,675 8,050 8,424 8,799  
Goodwill 874 874 [6] 9,842 9,842 9,842 9,842 9,842 9,842 $ 9,842
Other noncurrent assets 13,644 10,377 [2],[6] 8,036 [2],[6] 4,635 [2],[6] 3,463 3,748 3,860 [2],[6] 5,234 [2],[6]  
TOTAL ASSETS 173,728 194,332 221,058 219,819 209,144 222,406 275,700 280,440  
Current liabilities                  
Accounts payable 16,487 19,619 16,986 15,783 19,120 24,849 30,067 29,537  
Accrued liabilities 30,980 35,822 [2],[7],[8] 35,882 [2],[7],[8] 34,992 [2],[8] 39,588 35,571 [2],[8] 43,174 [2],[8] 38,169 [2],[8]  
Employee compensation 3,755 3,894 4,303 4,229 4,988 5,333 5,852 6,991  
Current portion of long-term debt, net 67,639 67,577 3,173 2,514 3,186 3,173 3,166 3,160  
Deferred revenues 8,616 8,967 8,261 8,510 8,765 8,791 8,307 8,761 8,913
Other current liabilities 8,434 15,659 [2],[5],[6] 16,220 [2],[5],[6] 15,550 [2],[5],[6] 19,838 23,352 [2],[5],[6] 30,420 [2],[5],[6] 30,667 [2],[5],[6]  
Total current liabilities 135,911 151,538 84,825 81,578 95,485 101,069 120,986 117,285  
Noncurrent liabilities                  
Long-term debt, net 0   65,685 61,315 21,926 22,588 23,212 23,837  
Deferred revenues 12,182 11,761 10,338 10,074 10,473 9,731 9,281 8,666 8,617
Noncurrent operating lease liabilities 8,942 9,332 7,046 6,409 6,595 2,793 3,033 2,723  
Deferred tax liabilities, net 1,508 1,401 [9] 1,520 [9] 1,460 [9] 0        
Other noncurrent liabilities 18,422 18,429 [2],[6] 17,589 [2],[6] 13,999 [2],[6] 13,536 3,722 [2],[6] 2,682 [2],[6] 2,143 [2],[6]  
Total liabilities 176,965 192,461 187,003 174,835 148,015 139,903 159,194 154,654  
Commitments and contingencies (Note 14)  
Shareholders' equity (deficit)                  
Share capital; $0.0001 par value; 500,000,000 shares authorized at December 31, 2023 and December 31, 2024; 28,095,144 shares issued and 27,834,908 outstanding at December 31, 2023 and 28,885,152 shares issued and 28,612,181 outstanding at December 31, 2024 3 3 3 3 3 3 3 3  
Additional paid in capital 163,441 160,958 158,578 155,137 152,768 149,165 146,528 142,009  
Treasury shares, at cost, 260,236 shares at December 31, 2023 and 272,971 shares at December 31, 2024 (5,665) (5,664) (5,660) (5,646) (5,624) (5,600) (5,509) (5,133)  
Accumulated deficit (158,855) (151,623) [1],[2],[3],[4],[5],[8],[9],[10] (117,097) [1],[2],[3],[4],[5],[8],[9] (102,851) [1],[2],[4],[5],[8],[9] (84,403) (59,464) [1],[2],[3],[4],[5],[8],[9] (23,089) [2],[4],[5],[8],[10] (9,652) [1],[2],[4],[5],[8],[10]  
Accumulated other comprehensive loss (2,161) (1,803) (1,769) (1,659) (1,615) (1,601) (1,427) (1,441)  
Total shareholders' equity (deficit) (3,237) 1,871 34,055 44,984 61,129 82,503 116,506 125,786 $ 122,228
TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 173,728 $ 194,332 $ 221,058 $ 219,819 $ 209,144 $ 222,406 $ 275,700 $ 280,440  
[1] estimate the allowance for credit losses
[2] previously identified uncorrected misstatements related to out-of-period adjustments
[3] recognize revenue on a non-standard contract
[4] estimate excess and obsolete inventory
[5] estimate variable consideration for sales returns
[6] reclassify certain prepayments made to suppliers and loss on supplier commitments liability as current or non-current. Additionally, as part of the Restatement, the Company corrected for
[7] previously recorded amounts reclassifying accounts receivable credit balances and
[8] estimate variable consideration for customer incentives
[9] timely recognize a valuation allowance on deferred tax assets
[10] timely recognize an impairment of its goodwill and long lived assets