Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions | |
| Related Party Transactions | Note 10 – Related Party Transactions
During the three and six months ended June 30, 2026, the Company entered into transactions with a related party, Neovia Logistics Services, LLC (“Neovia”). Neovia is considered a related party because its Chief Executive Officer is an independent director on the Company’s board of directors. The transactions consisted of consulting services related to the Company’s inventory and warehouse management processes, and from May 1, 2026 forward, for managing the Company’s warehouse operations in its Round Rock, Texas facility. We have contracted with Neovia to provide such warehouse management services at our Round Rock, Texas warehouse from May 1, 2026 to March 31, 2029. For the three and six-month periods ended June 30, 2026, expenses recognized related to these transactions totaled approximately $433,000 and $537,000, respectively, and are included in Company’s cost of revenues. As of June 30, 2026, amounts due to the related party were $123,000 and are included in accounts payable. No related party transactions were present, nor any amounts due to or from related parties, in the comparable prior year periods. |