v3.26.1
Subsequent events
3 Months Ended
Mar. 31, 2026
Subsequent events [Abstract]  
Subsequent events
10. Subsequent events

The Company is continuously monitoring the ongoing U.S. government’s executive order tariffs and counter tariffs imposed on the U.S. by certain countries.  Since February 2025, the U.S. government has issued several executive orders imposing tariffs on imports from most countries with which the U.S. engages in trade, including a minimum 10% duty on imports, subject to certain exemptions, pursuant to Section 122 of the Trade Act of 1974. We are currently dependent upon a manufacturer located in Thailand for the manufacturing and assembly of substantially all of our printers and terminals. On February 20, 2026, the U.S. Supreme Court issued a ruling in Learning Resources, Inc. v. Trump, holding that the International Emergency Economic Powers Act (“IEEPA”) does not provide the executive branch with the authority to impose certain tariffs. This ruling invalidated certain tariffs previously paid by the Company on goods imported from Thailand. Following the Supreme Court’s ruling that IEEPA-based tariffs were unlawful, the Court of International Trade (“CIT”) ordered U.S. Customs and Border Protection (“CBP”) to provide a process for the refund of collected tariffs. The refund mechanism allows importers to file claims for duties paid on shipments through a declaration in the Consolidated Administration and Processing of Entries (“CAPE”) system, which was launched on April 20, 2026. See Note 1 Basis of presentation.

On April 28, 2026, the Company’s Board of Directors approved a share repurchase program authorizing the purchase of up to $3 million of the Company’s outstanding common stock. Under this program, the Company may repurchase shares from time to time in the open market, through negotiated transactions, or other legal means, depending on market conditions, share price, and other factors. The program has a term of one year, unless terminated earlier by the Board of Directors. The repurchase program will be funded using the Company’s existing cash balance and cash generated from operations.

The Company has evaluated all other events or transactions that occurred up to the date the Condensed Consolidated Financial Statements were available to be issued.  Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the Condensed Consolidated Financial Statements.