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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 17,329 $ 15,497
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 264  
Equity in loss of unconsolidated affiliate 20 1,166
Depreciation and amortization 1,088 776
Noncash lease expense 445 346
Amortization of land use rights 29 30
Deferred income taxes, net (410) (757)
Bad debt expense and other non-cash items 99 (62)
Accrued interest on certificates of deposit (775) (455)
Change in fair value of long-term receivable (178)  
Change in fair value of derivative liabilities 178  
Change in fair value of warrant liability (6,973)  
Loss on disposal of property and equipment 68  
Changes in operating assets and liabilities:    
Accounts and note receivables (3,813) 2,651
Inventories (2,021) 1,563
Prepaid and other assets (1,783) (649)
Income tax payable (2,231) 3,188
Accounts payable (55) (105)
Other noncurrent liabilities (3) (779)
Due to related parties (82) 529
Accrued expenses and other liabilities (3,500) (46)
Operating lease liabilities 1,421 (361)
Net cash (used in) provided by operating activities (883) 22,532
Investing Activities    
Acquisition of intangible assets (3) (68)
Purchase of certificates of deposit (14,074) (14,335)
Purchase of property and equipment (2,380) (6,193)
Proceeds from sale of equipment 263 497
Cash paid for equity method investment (1,686) (1,000)
Net cash used in investing activities (17,880) (21,099)
Financing Activities    
Deferred financing costs (169)  
Proceeds from the exercise of stock options 1,307  
Net cash provided by financing activities 1,138  
Effect of exchange rate changes on cash and cash equivalents (18) (529)
Net decrease in cash and cash equivalents (17,643) 904
Cash and cash equivalents at beginning of the period 33,509 25,175
Cash and cash equivalents at end of the period 15,866 26,079
Supplemental Disclosure of Non-Cash Financing and Investing Activities:    
Convertible preferred stock conversion 64,525  
Non-cash acquisition of property and equipment through prepaid conversion   371
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes $ 7,757 $ 5,385