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Note 3 - Balance Sheet Components

12 Months Ended

Dec. 31, 2025

Supplemental Balance Sheet Disclosures [Text Block]

3. BALANCE SHEET COMPONENTS

Prepaid expenses and other current assets

Prepaid and other current assets were as follows (in thousands):

	*December 31,*
	*2025*		*2024*
Net investments in sales-type leases - current portion (1)	$	14,248	$	4,526
Contract assets (2)		11,267		3,224
Prepaid expense		6,595		5,824
Costs capitalized to obtain revenue contracts (3)		2,489		2,929
Other		4,136		942
Total prepaid expenses and other current assets	$	38,735	$	17,445

(1)

See Note 5, “Other Non-Current Assets.”

(2)

See “Contract Balances” section of Note 2, “Revenue from Contracts with Customers.”

(3)

See “Costs to Obtain or Fulfill a Contract” section of Note 2, “Revenue from Contracts with Customers.”

Property and Equipment

Property and equipment were as follows (in thousands):

	*December 31,*
	*2025*			*2024*
Computer equipment	$	14,547		$	10,799
Software and capitalized software development cost		10,408			5,617
Furniture, fixtures, and equipment		2,668			2,529
Leasehold improvements		7,033			6,691
Laboratory and other equipment		6,737			5,734
Test equipment		33,268			22,680
Property and equipment in progress:
DirectScan system assets		49,184			34,935
CV system and other assets		8,621			6,431
Total property and equipment		132,466			95,416
Less: Accumulated depreciation and amortization		(50,857	)		(46,951	)
Total property and equipment, net	$	81,609		$	48,465

Test equipment mainly includes DirectScan systems and CV systems assets at customer sites that are contributing to revenue. Property and equipment in progress represent the development or construction of property and equipment that have not yet been placed in service for the Company’s intended use and are not depreciated.

Depreciation and amortization expense for the years ended December 31, 2025, 2024 and 2023 were $4.1 million, $3.6 million, and $5.0 million, respectively.

Accrued and other current liabilities

Accrued and other current liabilities were as follows (in thousands):

	*December 31,*
	*2025*		*2024*
Accrued expenses	$	7,061	$	7,156
Accrued income taxes		297		365
Other		1,361		1,231
Total accrued and other current liabilities	$	8,719	$	8,752