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CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net sales      
Net sales [1] $ 10,878 $ 15,753 $ 14,052
Cost of net sales      
Cost of net sales 7,972 11,363 11,385
Gross profit 2,906 4,390 2,667
Operating expenses:      
Selling, general and administrative [2] 5,152 5,318 2,292
Research and development 5,085 5,881 4,762
Total operating expenses 10,237 11,199 7,054
Operating loss (7,331) (6,809) (4,387)
Interest income 2,791 2,208 2,154
Other income (expense), net 855 2,024 (706)
Loss before income taxes (3,685) (2,577) (2,939)
Income tax expense (683) (1,274) (2,063)
Net loss $ (4,368) $ (3,851) $ (5,002)
Net loss per share Basic [3] $ (0.48) $ (0.42) $ (0.55)
Net loss per share Diluted [3] $ (0.48) $ (0.42) $ (0.55)
Weighted average shares outstanding-Basic [3] 9,150 9,113 9,056
Weighted average shares outstanding-Diluted [3] 9,150 9,113 9,056
Net loss $ (4,368) $ (3,851) $ (5,002)
Other comprehensive loss, net of tax      
Net change in cumulative translation adjustment (1,906) (2,527) (6,495)
Comprehensive loss (6,274) (6,378) (11,497)
Products      
Net sales      
Net sales [1] 1,406 4,594 2,284
Cost of net sales      
Cost of net sales 1,223 3,666 2,902
Services      
Net sales      
Net sales [1] 9,472 11,159 11,768
Cost of net sales      
Cost of net sales $ 6,749 $ 7,697 $ 8,483
[1] Revenue recognized for the years ended December 31, 2024, 2023 and 2022 that was included in deferred revenue (including current and non-current) and customer advances as of the beginning of each year was $0.1 million, $0.1 million and $0.3 million, respectively.
[2] Reversals of credit losses of approximately $0.04 million, $1.3 million and $3.5 million were recognized as selling expenses in 2024, 2023 and 2022, respectively.
[3] Authorized share capital of the Company was amended by the consolidation of the existing 250,000,000 ordinary shares of US$0.00375 par value each into 62,500,000 ordinary shares of US$0.015 par value each effective from June 28, 2022.