v3.26.1
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Assets Held for Sale [Abstract]  
Schedule of Results From Discontinued Operations

The following table summarizes the results from discontinued operations, net of tax, for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,
2026

 

 

June 30,
2025

 

 

June 30,
2026

 

 

June 30,
2025

 

Net sales

 

$

6,075

 

 

$

7,730

 

 

$

7,721

 

 

$

17,286

 

Cost of sales

 

 

2,443

 

 

 

4,068

 

 

 

3,597

 

 

 

10,507

 

Gross profit

 

 

3,632

 

 

 

3,662

 

 

 

4,124

 

 

 

6,779

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

136

 

 

 

41

 

 

 

244

 

 

 

1,584

 

Research and development expenses

 

 

118

 

 

 

2,972

 

 

 

251

 

 

 

9,253

 

Early termination charges

 

 

—

 

 

 

1,561

 

 

 

—

 

 

 

1,561

 

Impairment and other charges

 

 

7

 

 

 

7,460

 

 

 

7

 

 

 

7,587

 

Total operating expenses

 

 

261

 

 

 

12,034

 

 

 

502

 

 

 

19,985

 

Operating income (loss) from discontinued operations

 

 

3,371

 

 

 

(8,372

)

 

 

3,622

 

 

 

(13,206

)

Interest income

 

 

0

 

 

 

84

 

 

 

0

 

 

 

215

 

Interest expense

 

 

(15

)

 

 

(122

)

 

 

(29

)

 

 

(242

)

Foreign currency gain (loss), net

 

 

116

 

 

 

(424

)

 

 

165

 

 

 

(428

)

Other income (loss), net

 

 

(1

)

 

 

144

 

 

 

7

 

 

 

144

 

Income (Loss) from discontinued operations before
   income tax expense

 

 

3,471

 

 

 

(8,690

)

 

 

3,765

 

 

 

(13,517

)

Income tax expense, net

 

 

685

 

 

 

190

 

 

 

929

 

 

 

190

 

Income (Loss) from discontinued operations, net
   of tax

 

$

2,786

 

 

$

(8,880

)

 

$

2,836

 

 

$

(13,707

)
Schedule Of Disposal Group Including Discontinued Operation Balance Sheet Disclosures

The following table presents the major classes of assets and liabilities of the discontinued operations that were included in the consolidated balance sheets (in thousands):

 

 

June 30,
2026

 

 

December 31,
2025

 

Accounts receivable, net

 

$

2,814

 

 

$

2,689

 

Inventories, net

 

 

2,519

 

 

 

2,252

 

Accrued severance benefits, net

 

 

40

 

 

 

24

 
Schedule of Cash Flow Information Related to Discontinued Operation

The following table provides supplemental cash flows information related to discontinued operations (in thousands):

 

 

Six Months Ended

 

 

June 30,
2026

 

 

June 30,
2025

 

Significant non-cash operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

$

11

 

 

$

304

 

Provision for severance benefits

 

 

19

 

 

 

(243

)

Stock-based compensation

 

 

—

 

 

 

(353

)

Impairment charges

 

 

—

 

 

 

7,362

 

Investing activities:

 

 

 

 

 

 

Capital expenditures

 

$

—

 

 

$

—

 
Schedule Of Discontinued Operation Income Loss From Discontinued Operation Disclosures The following table presents the revenue, gross profit and operating expenses related to the Company’s continuing involvement with the Discontinued Business for the period presented (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,
2026

 

 

June 30,
2025

 

 

June 30,
2026

 

 

June 30,
2025

 

Net sales

 

$

6,075

 

 

$

2,318

 

 

$

7,721

 

 

$

2,318

 

Gross profit

 

 

3,632

 

 

 

933

 

 

 

4,124

 

 

 

933

 

Operating expenses

 

 

246

 

 

 

143

 

 

 

493

 

 

 

143