v3.26.1
Note 3 - Business Combination (Tables)
6 Months Ended
Jun. 30, 2026
Notes Tables  
Business Combination [Table Text Block]

Description

 

Fair Value

 

Cash proceeds to seller

 $685 

Fair value of promissory note

  4,788 

Payment of indebtedness

  554 

Fair value of previously held minority equity interest of step acquiree

  2,948 

Fair value of deferred consideration

  5,778 

Total purchase price

 $14,753 
Business Combination, Recognized Asset Acquired and Liability Assumed [Table Text Block]

Description

 

As Originally Reported

  

Measurement Period Adjustments

  

As Adjusted

 

Assets acquired:

            

Cash and cash equivalents

 $29  $  $29 

Accounts receivable

  1      1 

Prepaid expenses and other current assets

  74      74 

Property and equipment

  68      68 

Operating lease right-of-use assets

  948      948 

Intangible assets

  7,450   (3,333)  4,117 

Goodwill

  9,430   3,532   12,962 

Other non-current assets

  49      49 

Total assets acquired

 $18,049  $199  $18,248 
             

Liabilities assumed:

            

Accounts payable

 $204  $  $204 

Accrued expenses

  509      509 

Current portion of operating lease liabilities

  554      554 

Deferred revenue

  171      171 

Deferred tax liability

     199   199 

Short-term notes payable

  1,400      1,400 

Notes payable

  64      64 

Operating lease liabilities

  394      394 

Total liabilities assumed

  3,296   199   3,495 

Total purchase price

 $14,753  $  $14,753 
Business Combination, Intangible Asset, Acquired, Finite-Lived and Indefinite-Lived [Table Text Block]
  

Estimated

 

Estimated

 

Intangible Assets

 

Fair Value

 

Useful Life

 

Applications

 $200  5 

FAA Part 135 Operating Certificate

  2,417 

Indefinite

 

Trademarks/ trade names

  1,300  15 

Customer list/ relationships

  200  15 
  $4,117    
Business Combination, Pro Forma Information [Table Text Block]
  

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Revenue associated with the cardiac electrophysiology business

 $270  $212  $518  $355 

Revenue associated with the acquired FLYTE business

  749   800   1,456   981 

Total revenues, net

 $1,019  $1,012  $1,974  $1,336 
                 

Net loss associated with the cardiac electrophysiology business

 $(2,319) $(5,458) $(3,877) $(9,503)

Net loss associated with the acquired FLYTE business

  (987)  (142)  (1,085)  (797)

Total net loss

 $(3,306) $(5,600) $(4,962) $(10,300)