Note 5 - Cash, Cash Equivalents and Restricted Cash

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Cash and Cash Equivalents Disclosure [Text Block]

Note 5.  Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the statement of financial position that sum to the total of the same such amounts in the statement of cash flows (in thousands):

	June 30,		December 31,
	2025		2024
Cash and cash equivalents	$	64,699	$	67,428
Restricted cash		22,496		11,705
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$	87,195	$	79,133

Restricted cash includes guarantee deposits for customs duties, a China government subsidy fund, and deposits as collateral in order to secure bank acceptance notes issued to vendors. As of  June 30, 2025 and  December 31, 2024, there was $18.1 million and $8.5 million of restricted cash required for bank acceptance notes issued to vendors, respectively. In addition, as of  June 30, 2025 and  December 31, 2024, certificates of deposit associated with credit facilities with a bank in China were both $2.5 million. There were $0.9 million and $0.7 million guarantee deposits for customs duties as of  June 30, 2025 and  December 31, 2024, respectively. There was $0.8 million and $0 government subsidy fund as of  June 30, 2025 and  December 31, 2024, respectively.