v3.26.1
Accounts Payable and Accrued Expenses (Tables)
 6 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accounts payable consisted of the following:
(in thousands)June 30, 2026December 31, 2025
Trade Accounts Payable3,299 3,219 
Other9 32 
Total Accounts Payable$3,308 $3,251 
Accrued expenses consisted of the following:
(in thousands)
June 30, 2026December 31, 2025
Registration penalties$1,583 $1,583 
State & Local Sales Tax3,718 3,885 
State & Local Sales Tax Penalties174 571 
State & Local Sales Tax Interest601 464 
Board of directors fees172 172 
Employee compensation803 1,220 
Other1,554 487
Total Accrued Expenses$8,605 $8,382 
Schedule of Accrued Sales and Use Tax Liability
The following table presents the activity in the Company’s accrued sales and use tax liability for the six months ended June 30, 2026:
(in thousands)TaxInterestPenaltyTotal
Balance at December 31, 2025$3,885 $464 $571 $4,920 
Additional estimated obligations1
424 149 50 623 
Cash payments2
(375)(35)- (410)
VDA settlement adjustments, net3
(320)23 (447)(744)
Unsettled VDA balances at June 30, 2026$3,614 $601 $174 $4,389 
State & Local Sales Tax - Ordinary Course4
104- - 104 
Balance at June 30, 2026$3,718 $601 $174 $4,493 
1 Represent jurisdictions in which VDAs are not finalized.
2 Represent jurisdictions where VDAs have been finalized and paid.
3 Represent jurisdictions where VDAs have been finalized.
4 Represents sales tax collected from customers in the ordinary course of business in jurisdictions where the Company is registered, separate from the estimated VDA liability discussed above, which had not yet been remitted to the applicable taxing authorities as of June 30, 2026.
Summary of Sales and Use Tax Related Activity
The condensed consolidated statements of comprehensive (loss) income impact of sales and use tax related activity for the periods presented is as follows:
(in thousands)Three Months Ended June 30, 2026Six Months Ended June 30, 2026
Sales tax benefit (expense), net$104 $(198)
Penalty benefit, net428 392 
Interest expense, net(85)(175)
Total Income Statement Impact$447 $19