v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 6,034 $ 6,185
Restricted cash 218 550
Accounts receivable, net of allowance of $308 and $756 137 1
Income tax receivable 386 736
Inventories, net 9,593 10,123
Prepaid expenses and other current assets 2,009 1,701
Deferred commissions 1,035 1,280
Total current assets 19,412 20,576
Property and equipment, net 2,749 3,140
Operating lease right-of-use assets 2,515 3,292
Other assets 2,570 2,751
Deferred tax assets, net 0 0
Long-term restricted cash 223 234
Total assets 27,469 29,993
LIABILITIES AND SHAREHOLDERS’ DEFICIT    
Commissions and incentives payable 5,832 7,118
Accrued expenses 2,939 3,128
Deferred revenue 1,761 3,086
Accounts payable 3,671 2,410
Current portion of operating lease liabilities 1,584 1,671
Taxes payable 511 1,029
Current notes payable 266 0
Current portion of finance lease liabilities 301 293
Total current liabilities 16,865 18,735
Long-term notes payable 2,750 2,750
Operating lease liabilities, excluding current portion 1,474 2,253
Other long-term liabilities 1,364 1,340
Finance lease liabilities, excluding current portion 236 388
Deferred tax liabilities, net 9,750 9,750
Total liabilities 32,439 35,216
Commitments and contingencies (Note 8)
Shareholders’ deficit:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding 0 0
Common stock, $0.0001 par value, 99,000,000 shares authorized, 2,742,857 shares issued and 1,929,670 shares outstanding as of June 30, 2026 and 2,742,857 shares issued and 1,900,930 shares outstanding as of December 31, 2025 0 0
Additional paid-in capital 32,692 33,032
Accumulated deficit (12,059) (14,024)
Accumulated other comprehensive loss (6,709) (4,669)
Treasury stock, at average cost, 813,187 shares as of June 30, 2026 and 841,927 shares as of December 31, 2025 (18,894) (19,562)
Total shareholders’ deficit (4,970) (5,223)
Total liabilities and shareholders’ deficit $ 27,469 $ 29,993