v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Acquisitions  
Schedule of pro forma financial information

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Three Months Ended June 30, 

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Six Months Ended June 30, 

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2026

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2025

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2026

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2025

Revenue (unaudited)

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$

16,270

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$

13,659

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$

30,525

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$

25,751

Pre-tax loss from continuing operation (unaudited)

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$

(10,878)

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$

(14,152)

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$

(23,120)

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$

(25,120)
NIRLAB  
Acquisitions  
Schedule of preliminary allocation of the purchase consideration

The following table presents the preliminary allocation of the consideration paid on the acquisition date for the NIRLAB transaction (amounts in thousands):

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Consideration Transferred:

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Cash paid (1)

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$

13,000

Common stock shares issued and holdback (2)

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1,922

Net cash and working capital adjustment (3)

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104

Contingent consideration - earnout

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4,969

Total consideration transferred

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$

19,995

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Assets acquired and liabilities assumed:

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Cash and cash equivalents

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$

383

Accounts receivable

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766

Inventory

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1,087

Prepaid expenses and other current assets

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61

Property and equipment

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207

Identifiable Intangible assets

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Trade Name

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910

Customer Relationships

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900

Developed Technology

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8,899

Goodwill

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11,428

Accounts payable, accrued expenses and other current liabilities

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(356)

Deferred tax liabilities, net

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(965)

Deferred revenue

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(3,325)

Total

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$

19,995

(1)The Company withheld $1.3 million as the General Holdback Amount per the NIRLAB Purchase Agreement.
(2)The 263,472 shares, including pro-rated net working capital adjustment and other adjustments, were issued and 29,895 shares were held back on the closing date based on the closing price of the Company’s common stock on the Nasdaq Global Market of $6.55 per share on the closing date. The net working capital adjustment is expected to be finalized in 2026.
(3)Net cash and working capital adjustments include preliminary look-back of net cash, debt and working capital adjustment.
KAF Manufacturing Company  
Acquisitions  
Schedule of preliminary allocation of the purchase consideration The following table presents the primary allocation of the consideration paid on the acquisition date for the KAF transaction (amounts in thousands):

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Consideration Transferred:

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Cash paid

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$

2,000

Contingent consideration - earnout

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729

Total consideration transferred

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$

2,729

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Assets acquired:

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Standard tools and machinery

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$

2,107

Identifiable Intangible assets

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Customer Relationships

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622

Total

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$

2,729