v3.26.1
Note 3 - Business Combination (Tables)
3 Months Ended
Mar. 31, 2026
Notes Tables  
Business Combination [Table Text Block]

Description

 

Fair Value

 

Cash proceeds to seller

 $685 

Fair value of promissory note

  4,788 

Payment of indebtedness

  554 

Fair value of previously held minority equity interest of step acquiree

  2,948 

Fair value of deferred consideration

  5,778 

Total purchase price

 $14,753 
Business Combination, Recognized Asset Acquired and Liability Assumed [Table Text Block]

Description

 

Fair Value

 

Assets acquired:

    

Cash and cash equivalents

 $29 

Accounts receivable

  1 

Prepaid expenses and other current assets

  74 

Property and equipment

  68 

Operating lease right-of-use assets

  948 

Intangible assets

  7,450 

Goodwill

  9,430 

Other non-current assets

  49 

Total assets acquired

 $18,049 
     

Liabilities assumed:

    

Accounts payable

 $204 

Accrued expenses

  509 

Current portion of operating lease liabilities

  554 

Deferred revenue

  171 

Short-term notes payable

  1,400 

Notes payable

  64 

Operating lease liabilities

  394 

Total liabilities assumed

  3,296 

Total purchase price

 $14,753 
Business Combination, Intangible Asset, Acquired, Finite-Lived and Indefinite-Lived [Table Text Block]
  

Estimated

 

Estimated

 

Intangible Assets

 

Fair Value

 

Useful Life

 

Licensing agreements/ vendor and supplier contracts

 $300  5 

Applications

  400  5 

Technology

  1,000  10 

FAA Part 135 Operating Certificate

  1,500 

Indefinite

 

Trademarks/ trade names

  1,250  15 

Customer list/ relationships

  3,000  15 
  $7,450    
Business Combination, Pro Forma Information [Table Text Block]
  

For the Three Months Ended March 31,

 
  

2026

  

2025

 

Revenue associated with the cardiac electrophysiology business

 $248  $143 

Revenue associated with the acquired FLYTE business

  708   181 

Total revenues, net

 $956  $324 
         

Net loss associated with the cardiac electrophysiology business

 $(1,558) $(4,045)

Net loss associated with the acquired FLYTE business

  (98)  (655)

Total net loss

 $(1,656) $(4,700)