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Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Schedule of effects of restatement on financial information

The net impact of the Restatement on the Consolidated Statements of Operations and Comprehensive Loss for the three-months ended December 31, 2023 and 2022 is summarized as follows:


	Quarter Ended December 31,
	2023						2022
	As Previously Reported			As Restated			As Previously Reported			As Restated
(in thousands, except per share data)
Net revenue	$	60,561		$	60,561		$	51,508		$	51,508
Gross profit		45,121			42,357			41,971			42,221
Operating loss		(11,230	)		(13,994	)		(36,045	)		(35,795	)
Net loss	$	(19,559	)	$	(22,323	)	$	(38,763	)	$	(38,479	)

Net loss per share attributable to common stockholders:
Basic	$	(0.24	)	$	(0.27	)	$	(0.50	)	$	(0.50	)
Diluted	$	(0.24	)	$	(0.27	)	$	(0.50	)	$	(0.50	)

As of and for the Three and Nine Months Ended September 30, 2023:

The effects of the restatement on the condensed consolidated balance sheet as of September 30, 2023 are summarized in the following table (in thousands, except share and per share data):


	September 30, 2023
	As Previously Reported			Adjustments			Ref	As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	34,949		$	—			$	34,949
Trade receivables, net of allowance for doubtful accounts of $934		33,615			—				33,615
Inventories, net		94,380			(5,252	)	(a)		89,128
Income taxes receivable		1,022			—				1,022
Other current assets		4,826			—				4,826
Total current assets		168,792			(5,252	)			163,540

Property and equipment, net		73,530			—				73,530
Intangible assets, net		21,802			—				21,802
Goodwill		25,465			—				25,465
Deferred income taxes		132			—				132
Other assets		3,634			—				3,634
Total assets	$	293,355		$	(5,252	)		$	288,103

LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	27,395		$	—			$	27,395
Accrued expenses		24,966			—				24,966
Other current liabilities		1,893			—				1,893
Current maturities of long-term debt		640			—				640
Total current liabilities		54,894			—				54,894

Long-term liabilities:
Long-term debt net, less current maturities		42,288			—				42,288
Other long-term liabilities		1,467			—				1,467
Deferred income taxes		327			—				327
Income taxes payable		635			—				635
Total liabilities		99,611			—				99,611

Commitments and contingencies

Stockholders’ equity:
Common stock, $0.01 par value, 300,000,000 shares authorized; 83,469,426 shares issued, and 82,555,907 shares outstanding as of September 30, 2023		824			—				824
Additional paid in capital		296,018			—				296,018
Accumulated deficit		(96,071	)		(5,252	)	(a)		(101,323	)
Accumulated other comprehensive loss		(1,045	)		—				(1,045	)
Treasury stock, at cost; 913,519 shares as of September 30, 2023		(5,982	)		—				(5,982	)
Total stockholders’ equity		193,744			(5,252	)			188,492
Total liabilities & stockholders’ equity	$	293,355		$	(5,252	)		$	288,103

The description of the error is in the Description of Misstatement Adjustments provided in Note 3 Restatement of Previously Issued Consolidated Financial Statements. The impact of each error for the corresponding period in the above table is described below:

(a) Inventory Treatment - The correction of the misstatement resulted in a decrease to Inventories, net and an increase to Accumulated deficit of $5,252, including an increase to the beginning balance of Accumulated deficit of $3,724 for the three months ended and a decrease to the beginning balance of Accumulated deficit of $340 for the nine months ended September 30, 2023.

The effects of the restatement on the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended September 30, 2023 are summarized in the following table (in thousands except share and per share data):


		Three Months Ended September 30, 2023									Nine Months Ended September 30, 2023
	Ref	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
Net revenue		$	52,783		$	—		$	52,783		$	155,828		$	—		$	155,828
Cost of goods sold	(a)		10,394			1,528			11,922			28,158			5,592			33,750
Gross profit			42,389			(1,528	)		40,861			127,670			(5,592	)		122,078

Operating expenses:
Research and development costs			7,244			—			7,244			21,976			—			21,976
Selling, general, and administrative			44,126			—			44,126			131,773			—			131,773
Total operating expenses			51,370			—			51,370			153,749			—			153,749
Operating loss			(8,981	)		(1,528	)		(10,509	)		(26,079	)		(5,592	)		(31,671	)

Other income (expense):
Other income (expenses), net	(b)		1,660			(1,291	)		369			1,014			(1,337	)		(323	)
Interest expense, net			(1,119	)		—			(1,119	)		(3,127	)		—			(3,127	)
Total other income (expense)			541			(1,291	)		(750	)		(2,113	)		(1,337	)		(3,450	)
Loss before income taxes			(8,440	)		(2,819	)		(11,259	)		(28,192	)		(6,929	)		(35,121	)
Income tax (benefit) expense			(108	)		—			(108	)		90			—			90
Net loss		$	(8,332	)	$	(2,819	)	$	(11,151	)	$	(28,282	)	$	(6,929	)	$	(35,211	)
Foreign currency translation adjustment			(630	)		—			(630	)		(1,012	)		—			(1,012	)
Comprehensive loss		$	(8,962	)	$	(2,819	)	$	(11,781	)	$	(29,294	)	$	(6,929	)	$	(36,223	)
Weighted average number of shares of common stock outstanding:
Basic			82,548,892			—			82,548,892			81,878,814			—			81,878,814
Diluted			82,548,892			—			82,548,892			81,878,814			—			81,878,814
Net loss per share attributable to common stockholders:
Basic		$	(0.10	)	$	(0.04	)	$	(0.14	)	$	(0.35	)	$	(0.08	)	$	(0.43	)
Diluted		$	(0.10	)	$	(0.04	)	$	(0.14	)	$	(0.35	)	$	(0.08	)	$	(0.43	)

The description of each error is in the Description of Misstatement Adjustments provided in Note 3 Restatement of Previously Issued Consolidated Financial Statements. The impact of each error for the corresponding period in the above table is described below:

(a) Inventory Treatment - The correction of the misstatement resulted in an increase to Cost of goods sold of $1,528 and $5,592 for the three and nine months ended September 30, 2023, respectively.

(b) Interest Rate Swap - The correction of the misstatement resulted in a decrease to Other income (expense), net of $1,291 and $1,337 for the three and nine months ended September 30, 2023, respectively.

The effects of the restatement on the condensed consolidated statement of cash flow for the nine months ended September 30, 2023 are summarized in the following table (in thousands):


	Nine Months Ended September 30, 2023
	As Previously Reported			Adjustments			Ref	Effect of Reclassification			As Restated
Cash flows from operating activities
Net loss	$	(28,282	)	$	(6,929	)	(a)(b)	$	—		$	(35,211	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		10,602			—				—			10,602
Allowance for doubtful accounts		147			—				—			147
Provision for excess and obsolete inventories		2,053			1,151		(a)		—			3,204
Stock-based compensation		10,294			—				—			10,294
Change in fair value of financial instruments		—			1,337		(b)		(1,394	)		(57	)
Other		(1,428	)		—				1,394			(34	)
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable		3,706			—				—			3,706
Inventories		(35,558	)		4,441		(a)		—			(31,117	)
Accounts payable		12,468			—				—			12,468
Accrued expenses		3,718			—				—			3,718
Accrued legal settlement		(22,000	)		—				—			(22,000	)
Income tax receivable/payable		(533	)		—				—			(533	)
Other assets and liabilities		(2,704	)		—				—			(2,704	)
Net cash used in operating activities		(47,517	)		—				—			(47,517	)

Cash flows from investing activities
Purchases of property and equipment		(21,893	)		—				—			(21,893	)
Proceeds from sale of property and equipment		795			—				—			795
Purchases of intangible assets		(933	)		—				—			(933	)
Net cash used in investing activities		(22,031	)		—				—			(22,031	)

Cash flows from financing activities
Payments on long-term debt		(568	)		—				—			(568	)
Proceeds from issuance of common stock, net of issuance costs		68,453			—				—			68,453
Proceeds from exercise of stock options		2,535			—				—			2,535
Proceeds from employee stock purchase plan		560			—				—			560
Payments on earnout liability		(5,500	)		—				—			(5,500	)
Net cash provided by financing activities		65,480			—				—			65,480

Effect of exchange rate changes on cash and cash equivalents		549			—				—			549
Net decrease in cash and cash equivalents		(3,519	)		—				—			(3,519	)
Cash and cash equivalents at beginning of period		38,468			—				—			38,468
Cash and cash equivalents at end of period	$	34,949		$	—			$	—		$	34,949

Supplemental disclosures of cash flow information:
Restricted cash	$	1,000		$	—			$	—		$	1,000
Cash paid for income taxes		610			—				—			610
Cash paid for interest		3,342			—				—			3,342
Purchase of property and equipment included in accounts payable		4,842			—				—			4,842

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.

As of and for the Three and Six Months Ended June 30, 2023:

The effects of the restatement on the condensed consolidated balance sheet as of June 30, 2023 are summarized in the following table (in thousands, except share and per share data):


	June 30, 2023
	As Previously Reported			Adjustments			Ref	As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	56,747		$	—			$	56,747
Trade receivables, net of allowance for doubtful accounts of $1,706		34,331			—				34,331
Inventories, net		85,225			(3,724	)	(a)		81,501
Income taxes receivable		870			—				870
Other current assets		3,257			—				3,257
Total current assets		180,430			(3,724	)			176,706

Property and equipment, net		70,936			—				70,936
Intangible assets, net		21,921			—				21,921
Goodwill		25,465			—				25,465
Deferred income taxes		319			—				319
Other assets		1,766			1,291		(b)		3,057
Total assets	$	300,837		$	(2,433	)		$	298,404

LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	29,681		$	—			$	29,681
Accrued expenses		24,390			—				24,390
Other current liabilities		1,700			—				1,700
Current maturities of long-term debt		652			—				652
Income taxes payable		20			—				20
Total current liabilities		56,443			—				56,443

Long-term liabilities:
Long-term debt net, less current maturities		42,259			—				42,259
Other long-term liabilities		1,842			—				1,842
Deferred income taxes		620			—				620
Income taxes payable		635			—				635
Total liabilities		101,799			—				101,799

Commitments and contingencies

Stockholders’ equity:
Common stock, $0.01 par value, 300,000,000 shares authorized; 83,449,565 shares issued, and 82,536,046 shares outstanding as of June 30, 2023		824			—				824
Additional paid in capital		292,350			—				292,350
Accumulated deficit		(87,739	)		(2,433	)	(a)(b)		(90,172	)
Accumulated other comprehensive loss		(415	)		—				(415	)
Treasury stock, at cost; 913,519 shares as of June 30, 2023		(5,982	)		—				(5,982	)
Total stockholders’ equity		199,038			(2,433	)			196,605
Total liabilities & stockholders’ equity	$	300,837		$	(2,433	)		$	298,404

(a) Inventory Treatment - The correction of the misstatement resulted in a decrease to Inventories, net and an increase to Accumulated deficit of $3,724, including an increase to the beginning balance of Accumulated deficit of $983 for the three-months ended and a decrease to the beginning balance of Accumulated deficit of $340 for the six-months ended June 30, 2023.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other assets and a decrease to Accumulated deficit of $1,291, including a decrease to the beginning balance of Accumulated deficit of $900 and $1,337 for the three- and six-months ended June 30, 2023, respectively.

The effects of the restatement on the condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2023 are summarized in the following table (in thousands except share and per share data):


		Three Months Ended June 30, 2023									Six Months Ended June 30, 2023
	Ref	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
Net revenue		$	51,009		$	—		$	51,009		$	103,045		$	—		$	103,045
Cost of goods sold	(a)		8,858			2,741			11,599			17,764			4,064			21,828
Gross profit			42,151			(2,741	)		39,410			85,281			(4,064	)		81,217

Operating expenses:
Research and development costs			7,683			—			7,683			14,732			—			14,732
Selling, general, and administrative			43,827			—			43,827			87,647			—			87,647
Total operating expenses			51,510			—			51,510			102,379			—			102,379
Operating loss			(9,359	)		(2,741	)		(12,100	)		(17,098	)		(4,064	)		(21,162	)

Other (expense) income:
Other (expense) income, net	(b)		(467	)		391			(76	)		(646	)		(46	)		(692	)
Interest expense, net			(803	)		—			(803	)		(2,008	)		—			(2,008	)
Total other expense, net			(1,270	)		391			(879	)		(2,654	)		(46	)		(2,700	)
Loss before income taxes			(10,629	)		(2,350	)		(12,979	)		(19,752	)		(4,110	)		(23,862	)
Income tax expense			269			—			269			198			—			198
Net loss		$	(10,898	)	$	(2,350	)	$	(13,248	)	$	(19,950	)	$	(4,110	)	$	(24,060	)
Foreign currency translation adjustment			(283	)		—			(283	)		(382	)		—			(382	)
Comprehensive loss		$	(11,181	)	$	(2,350	)	$	(13,531	)	$	(20,332	)	$	(4,110	)	$	(24,442	)
Weighted average number of shares of common stock outstanding:
Basic			82,373,441			—			82,373,441			81,536,607			—			81,536,607
Diluted			82,373,441			—			82,373,441			81,536,607			—			81,536,607
Net loss per share attributable to common stockholders:
Basic		$	(0.13	)	$	(0.03	)	$	(0.16	)	$	(0.24	)	$	(0.06	)	$	(0.30	)
Diluted		$	(0.13	)	$	(0.03	)	$	(0.16	)	$	(0.24	)	$	(0.06	)	$	(0.30	)

(a) Inventory Treatment - The correction of the misstatement resulted in an increase to Cost of goods sold of $2,741 and $4,064 for the three and six months ended June 30, 2023, respectively.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other (expense) income, net of $391 and a decrease to Other (expense) income of $46 for the three and six months ended June 30, 2023, respectively.

The effects of the restatement on the condensed consolidated statement of cash flow for the six months ended June 30, 2023 are summarized in the following table (in thousands):


	Six Months Ended June 30, 2023
	As Previously Reported			Adjustments			Ref	Effect of Reclassification			As Restated
Cash flows from operating activities
Net loss	$	(19,950	)	$	(4,110	)	(a)(b)	$	—		$	(24,060	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		6,414			—				—			6,414
Allowance for doubtful accounts		147			—				—			147
Provision for (reversal of) excess and obsolete inventories		(205	)		1,128		(a)		—			923
Stock-based compensation		6,782			—				—			6,782
Change in fair value of financial instruments		—			46		(b)		320			366
Other		714			—				(320	)		394
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable		3,138			—				—			3,138
Inventories		(23,895	)		2,936		(a)		—			(20,959	)
Accounts payable		14,745			—				—			14,745
Accrued expenses		1,845			—				—			1,845
Accrued legal settlement		(22,000	)		—				—			(22,000	)
Income tax receivable/payable		(359	)		—				—			(359	)
Other assets and liabilities		(779	)		—				—			(779	)
Net cash used in operating activities		(33,403	)		—				—			(33,403	)

Cash flows from investing activities
Purchases of property and equipment		(15,354	)		—				—			(15,354	)
Proceeds from sale of property and equipment		635			—				—			635
Purchases of intangible assets		(544	)		—				—			(544	)
Net cash used in investing activities		(15,263	)		—				—			(15,263	)

Cash flows from financing activities
Payments on long-term debt		(396	)		—				—			(396	)
Proceeds from issuance of common stock, net of issuance costs		68,453			—				—			68,453
Proceeds from exercise of stock options		2,464			—				—			2,464
Proceeds from employee stock purchase plan		560			—				—			560
Payments on earnout liability		(4,250	)		—				—			(4,250	)
Net cash provided by financing activities		66,831			—				—			66,831

Effect of exchange rate changes on cash and cash equivalents		114			—				—			114
Net increase in cash and cash equivalents		18,279			—				—			18,279
Cash and cash equivalents at beginning of period		38,468			—				—			38,468
Cash and cash equivalents at end of period	$	56,747		$	—			$	—		$	56,747

Supplemental disclosures of cash flow information:
Restricted cash	$	2,250		$	—			$	—		$	2,250
Cash paid for taxes		456			—				—			456
Cash paid for interest		2,068			—				—			2,068
Purchase of property and equipment included in accounts payable		5,617			—				—			5,617

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.

As of and for the Three Months Ended March 31, 2023:

The effects of the restatement on the condensed consolidated balance sheet as of March 31, 2023 are summarized in the following table (in thousands, except share and per share data):


	March 31, 2023
	As Previously Reported			Adjustments			Ref	As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	85,883		$	—			$	85,883
Trade receivables, net of allowance for doubtful accounts of $1,816		37,262			—				37,262
Inventories, net		69,174			(983	)	(a)		68,191
Income taxes receivable		596			—				596
Other current assets		4,167			—				4,167
Total current assets		197,082			(983	)			196,099

Property and equipment, net		66,810			—				66,810
Intangible assets, net		22,137			—				22,137
Goodwill		25,465			—				25,465
Deferred income taxes		354			—				354
Other assets		1,697			900		(b)		2,597
Total assets	$	313,545		$	(83	)		$	313,462

LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	20,538		$	—			$	20,538
Accrued expenses		25,446			—				25,446
Accrued legal settlement		13,000			—				13,000
Other current liabilities		3,772			—				3,772
Current maturities of long-term debt		690			—				690
Income taxes payable		208			—				208
Total current liabilities		63,654			—				63,654

Long-term liabilities:
Long-term debt net, less current maturities		42,204			—				42,204
Other long-term liabilities		1,523			—				1,523
Deferred income taxes		377			—				377
Income taxes payable		635			—				635
Total liabilities		108,393			—				108,393

Commitments and contingencies

Stockholders' equity:
Common stock, $0.01 par value, 300,000,000 shares authorized; 83,220,392 shares issued, and 82,306,873 shares outstanding as of March 31, 2023		821			—				821
Additional paid in capital		287,286			—				287,286
Accumulated deficit		(76,841	)		(83	)	(a)(b)		(76,924	)
Accumulated other comprehensive loss		(132	)		—				(132	)
Treasury stock, at cost; 913,519 shares as of June 30, 2023		(5,982	)		—				(5,982	)
Total stockholders’ equity		205,152			(83	)			205,069
Total liabilities & stockholders’ equity	$	313,545		$	(83	)		$	313,462

(a) Inventory Treatment - The correction of the misstatement resulted in a decrease to Inventories, net and an increase to Accumulated deficit of $983, including a decrease to the beginning balance of Accumulated deficit of $340 for the three months ended March 31, 2023.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other assets and an decrease to Accumulated deficit of $900, including a decrease to the beginning balance of Accumulated deficit of $1,337 for the three months ended March 31, 2023.

The effects of the restatement on the condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2023 are summarized in the following table (in thousands, except share and per share data):


	Three Months Ended March 31, 2023
	As Previously Reported			Adjustments			Ref	As Restated
Net revenue	$	52,036		$	—			$	52,036
Cost of goods sold		8,906			1,323		(a)		10,229
Gross profit		43,130			(1,323	)			41,807

Operating expenses:
Research and development costs		7,049			—				7,049
Selling, general, and administrative		43,820			—				43,820
Total operating expenses		50,869			—				50,869
Operating loss		(7,739	)		(1,323	)			(9,062	)

Other expense:
Other expense		(179	)		(437	)	(b)		(616	)
Interest expense, net		(1,205	)		—				(1,205	)
Total other expense		(1,384	)		(437	)			(1,821	)
Loss before income taxes		(9,123	)		(1,760	)			(10,883	)
Income tax benefit		(71	)		—				(71	)
Net loss	$	(9,052	)	$	(1,760	)		$	(10,812	)
Foreign currency translation adjustment		(99	)		—				(99	)
Comprehensive loss	$	(9,151	)	$	(1,760	)		$	(10,911	)
Weighted average number of shares of common stock outstanding:
Basic		80,681,715			—				80,681,715
Diluted		80,681,715			—				80,681,715
Net loss per share attributable to common stockholders:
Basic	$	(0.11	)	$	(0.02	)		$	(0.13	)
Diluted	$	(0.11	)	$	(0.02	)		$	(0.13	)

(a) Inventory Treatment - The correction of the misstatement resulted in an increase to Cost of goods sold of $1,323 for the three months ended March 31, 2023.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other expense of $437 for the three months ended March 31, 2023.

The effects of the restatement on the condensed consolidated statement of cash flow for the three months ended March 31, 2023 are summarized in the following table (in thousands):


	Three Months Ended March 31, 2023
	As Previously Reported			Adjustments			Ref	As Restated
Cash flows from operating activities
Net loss	$	(9,052	)	$	(1,760	)	(a)(b)	$	(10,812	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		3,117			—				3,117
Provision for excess and obsolete inventories		293			—				293
Stock-based compensation		3,182			—				3,182
Change in fair value of financial instruments		80			437		(b)		517
Other		100			—				100
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable		441			—				441
Inventories		(8,435	)		1,323		(a)		(7,112	)
Accounts payable		5,592			—				5,592
Accrued expenses		(877	)		—				(877	)
Accrued legal settlement		(9,000	)		—				(9,000	)
Income tax payable		132			—				132
Other assets and liabilities		367			—				367
Net cash used in operating activities		(14,060	)		—				(14,060	)

Cash flows from investing activities
Purchases of property and equipment		(7,521	)		—				(7,521	)
Proceeds from sale of property and equipment		223			—				223
Purchases of intangible assets		(254	)		—				(254	)
Net cash used in investing activities		(7,552	)		—				(7,552	)

Cash flows from financing activities
Payments on long-term debt		(197	)		—				(197	)
Payments of debt issuance costs		(7	)		—				(7	)
Proceeds from issuance of common stock, net of issuance costs		68,449			—				68,449
Proceeds from exercise of stock options		1,622			—				1,622
Payments on earnout liability		(500	)		—				(500	)
Net cash provided by financing activities		69,367			—				69,367

Effect of exchange rate changes on cash		(340	)		—				(340	)
Net increase in cash		47,415			—				47,415
Cash at beginning of period		38,468			—				38,468
Cash at end of period	$	85,883		$	—			$	85,883

Supplemental disclosures of cash flow information:
Cash paid for taxes	$	—		$	—			$	—
Cash paid for interest		601			—				601
Purchase of property and equipment included in accounts payable		4,026			—				4,026

The effects of the revision on the condensed consolidated balance sheet as of September 30, 2022 are summarized in the following table (in thousands, except share and per share data):


	September 30, 2022
	As Previously Reported			Adjustments		Ref	As Restated
ASSETS
Current assets:
Cash	$	56,325		$	—		$	56,325
Trade receivables, net of allowance for doubtful accounts of $1,990		35,960			—			35,960
Inventories, net		54,771			90	(a)		54,861
Income taxes receivable		705			—			705
Other current assets		1,947			—			1,947
Total current assets		149,708			90			149,798

Property and equipment, net		58,591			—			58,591
Intangible assets, net		20,850			—			20,850
Goodwill		26,975			—			26,975
Deferred income taxes		841			—			841
Other assets		—			1,303	(b)		1,303
Total assets	$	256,965		$	1,393		$	258,358

LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	13,979		$	—		$	13,979
Accrued expenses		19,507			—			19,507
Other current liabilities		6,889			—			6,889
Current maturities of long-term debt		735			—			735
Income taxes payable		497			—			497
Total current liabilities		41,607			—			41,607

Long-term liabilities:
Long-term debt net, less current maturities		42,492			—			42,492
Other long-term liabilities		907			—			907
Deferred income taxes		59			—			59
Income taxes payable		527			—			527
Total liabilities		85,592			—			85,592

Commitments and contingencies

Stockholders’ equity:
Common stock, $0.01 par value, 300,000,000 shares authorized; 77,990,290 shares issued, and 77,076,771 shares outstanding as of September 30, 2022		769			—			769
Additional paid in capital		207,109			—			207,109
Accumulated deficit		(29,026	)		1,393	(a)(b)		(27,633	)
Accumulated other comprehensive loss		(1,497	)		—			(1,497	)
Treasury stock, at cost; 913,519 shares as of September 30, 2022		(5,982	)		—			(5,982	)
Total stockholders’ equity		171,373			1,393			172,766
Total liabilities & stockholders’ equity	$	256,965		$	1,393		$	258,358

(a) Inventory Treatment - The correction of the misstatement resulted in an increase to Inventories, net and a decrease to Accumulated deficit of $90, including an increase to the beginning balance of Accumulated deficit of $198 for the three months ended September 30, 2022.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other assets and a decrease to Accumulated deficit of $1,303, including a decrease to the beginning balance of Accumulated deficit of $414 for the three months ended September 30, 2022.

The effects of the revision on the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended September 30, 2022 are summarized in the following table (in thousands except share and per share data):


		Three Months Ended September 30, 2022									Nine Months Ended September 30, 2022
	Ref	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
Net revenue		$	46,006		$	—		$	46,006		$	129,875		$	—		$	129,875
Cost of goods sold	(a)		8,491			(288	)		8,203			22,920			(90	)		22,830
Gross profit			37,515			288			37,803			106,955			90			107,045

Operating expenses:
Research and development costs			6,337			—			6,337			18,100			—			18,100
Selling, general, and administrative			39,667			—			39,667			114,857			—			114,857
Total operating expenses			46,004			—			46,004			132,957			—			132,957
Operating loss			(8,489	)		288			(8,201	)		(26,002	)		90			(25,912	)

Other income (expense):
Other income, net	(b)		59			889			948			610			1,303			1,913
Interest expense, net			(1,093	)		—			(1,093	)		(2,865	)		—			(2,865	)
Total other income (expense)			(1,034	)		889			(145	)		(2,255	)		1,303			(952	)
Loss before income taxes			(9,523	)		1,177			(8,346	)		(28,257	)		1,393			(26,864	)
Income tax expense			201			—			201			306			—			306
Net loss		$	(9,724	)	$	1,177		$	(8,547	)	$	(28,563	)	$	1,393		$	(27,170	)
Foreign currency translation adjustment			(588	)		—			(588	)		(1,505	)		—			(1,505	)
Comprehensive loss		$	(10,312	)	$	1,177		$	(9,135	)	$	(30,068	)	$	1,393		$	(28,675	)
Weighted average number of shares of common stock outstanding:
Basic			76,850,949			—			76,850,949			76,595,118			—			76,595,118
Diluted			76,850,949			—			76,850,949			76,595,118			—			76,595,118
Net loss per share attributable to common stockholders:
Basic		$	(0.13	)	$	0.02		$	(0.11	)	$	(0.37	)	$	0.02		$	(0.35	)
Diluted		$	(0.13	)	$	0.02		$	(0.11	)	$	(0.37	)	$	0.02		$	(0.35	)

(a) Inventory Treatment - The correction of the misstatement resulted in a decrease to Cost of goods sold of $288 and $90 for the three and nine months ended September 30, 2022, respectively.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other income, net of $889 and $1,303 for the three- and nine-months ended September 30, 2022, respectively.

The effects of the revision on the condensed consolidated statement of cash flow for the nine months ended September 30, 2022 are summarized in the following table (in thousands):


	Nine Months Ended September 30, 2022
	As Previously Reported			Adjustments			Ref	As Restated
Cash flows from operating activities
Net loss	$	(28,563	)	$	1,393		(a)(b)	$	(27,170	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		9,624			—				9,624
Provision for excess and obsolete inventories		(91	)		—				(91	)
Stock-based compensation		7,052			—				7,052
Change in fair value of financial instruments		—			(1,303	)	(b)		(1,303	)
Other		(1,295	)		—				(1,295	)
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable		(10,227	)		—				(10,227	)
Inventories		(15,316	)		(90	)	(a)		(15,406	)
Accounts payable		951			—				951
Accrued expenses		176			—				176
Income tax payable		297			—				297
Other assets and liabilities		1,442			—				1,442
Net cash used in operating activities		(35,950	)		—				(35,950	)

Cash flows from investing activities
Purchase of office building		(18,300	)		—				(18,300	)
Purchases of property and equipment		(15,637	)		—				(15,637	)
Proceeds from sale of property and equipment		642			—				642
Purchases of intangible assets		(1,720	)		—				(1,720	)
Acquisition of Disior, net of cash received		(18,504	)		—				(18,504	)
Net cash used in investing activities		(53,519	)		—				(53,519	)

Cash flows from financing activities
Proceeds from draw on term loan		20,000			—				20,000
Proceeds from issuance of long-term debt		16,000			—				16,000
Payments on long-term debt		(367	)		—				(367	)
Payments of debt issuance costs		(420	)		—				(420	)
Proceeds from exercise of stock options		2,224			—				2,224
Payments on earnout liability		(500	)		—				(500	)
Net cash provided by financing activities		36,937			—				36,937

Effect of exchange rate changes on cash		(495	)		—				(495	)
Net decrease in cash		(53,027	)		—				(53,027	)
Cash at beginning of period		109,352			—				109,352
Cash at end of period	$	56,325		$	—			$	56,325

Supplemental disclosures of cash flow information:
Cash paid for income taxes	$	788		$	—			$	788
Cash paid for interest		2,111			—				2,111
Purchase of property and equipment included in accounts payable		2,363			—				2,363

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.

As of and for the Three and Six Months Ended June 30, 2022:

The effects of the revision on the condensed consolidated balance sheet as of June 30, 2022 are summarized in the following table (in thousands, except share and per share data):


	June 30, 2022
	As Previously Reported			Adjustments			Ref	As Restated
ASSETS
Current assets:
Cash	$	73,002		$	—			$	73,002
Trade receivables, net of allowance for doubtful accounts of $1,234		32,598			—				32,598
Inventories, net		51,700			(198	)	(a)		51,502
Income taxes receivable		660			—				660
Other current assets		3,129			—				3,129
Total current assets		161,089			(198	)			160,891

Property and equipment, net		56,066			—				56,066
Intangible assets, net		20,352			—				20,352
Goodwill		26,975			—				26,975
Deferred income taxes		563			—				563
Other assets		—			414		(b)		414
Total assets	$	265,045		$	216			$	265,261

LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	14,564		$	—			$	14,564
Accrued expenses		21,407			—				21,407
Other current liabilities		6,926			—				6,926
Current maturities of long-term debt		757			—				757
Income taxes payable		305			—				305
Total current liabilities		43,959			—				43,959

Long-term liabilities:
Long-term debt net, less current maturities		42,519			—				42,519
Other long-term liabilities		905			—				905
Deferred income taxes		197			—				197
Income taxes payable		527			—				527
Total liabilities		88,107			—				88,107

Commitments and contingencies

Stockholders' equity:
Common stock, $0.01 par value, 300,000,000 shares authorized; 77,451,087 shares issued, and 76,537,568 shares outstanding as of June 30, 2022		764			—				764
Additional paid in capital		202,367			—				202,367
Accumulated deficit		(19,302	)		216		(a)(b)		(19,086	)
Accumulated other comprehensive loss		(909	)		—				(909	)
Treasury stock, at cost; 913,519 shares as of June 30, 2022		(5,982	)		—				(5,982	)
Total stockholders’ equity		176,938			216				177,154
Total liabilities & stockholders’ equity	$	265,045		$	216			$	265,261

(a) Inventory Treatment - The correction of the misstatement resulted in a decrease to Inventories, net and an increase to Accumulated deficit of $198 as of June 30, 2022.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other assets and a decrease to Accumulated deficit of $414, including an increase to the beginning balance of Accumulated deficit of $605 for the three-months ended June 30,2022.

The effects of the revision on the condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2022 are summarized in the following table (in thousands except share and per share data):


		Three Months Ended June 30, 2022									Six Months Ended June 30, 2022
	Ref	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
Net revenue		$	42,498		$	—		$	42,498		$	83,869		$	—		$	83,869
Cost of goods sold	(a)		7,638			198			7,836			14,429			198			14,627
Gross profit			34,860			(198	)		34,662			69,440			(198	)		69,242

Operating expenses:
Research and development costs			5,990			—			5,990			11,763			—			11,763
Selling, general, and administrative			37,948			—			37,948			75,190			—			75,190
Total operating expenses			43,938			—			43,938			86,953			—			86,953
Operating loss			(9,078	)		(198	)		(9,276	)		(17,513	)		(198	)		(17,711	)

Other (expense) income:
Other income, net	(b)		652			1,019			1,671			551			414			965
Interest expense, net			(1,104	)		—			(1,104	)		(1,772	)		—			(1,772	)
Total other (expense) income, net			(452	)		1,019			567			(1,221	)		414			(807	)
Loss before income taxes			(9,530	)		821			(8,709	)		(18,734	)		216			(18,518	)
Income tax expense			73			—			73			105			—			105
Net loss		$	(9,603	)	$	821		$	(8,782	)	$	(18,839	)	$	216		$	(18,623	)
Foreign currency translation adjustment			(593	)		—			(593	)		(917	)		—			(917	)
Comprehensive loss		$	(10,196	)	$	821		$	(9,375	)	$	(19,756	)	$	216		$	(19,540	)
Weighted average number of shares of common stock outstanding:
Basic			76,481,709			—			76,481,709			76,465,082			—			76,465,082
Diluted			76,481,709			—			76,481,709			76,465,082			—			76,465,082
Net loss per share attributable to common stockholders:
Basic		$	(0.13	)	$	0.02		$	(0.11	)	$	(0.25	)	$	0.01		$	(0.24	)
Diluted		$	(0.13	)	$	0.02		$	(0.11	)	$	(0.25	)	$	0.01		$	(0.24	)

(a) Inventory Treatment - The correction of the misstatement resulted in an increase to Cost of goods sold of $198 for the three and six months ended June 30, 2022.

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other income, net of $1,019 and $414 for the three and six months ended June 30, 2022, respectively.

The effects of the revision on the condensed consolidated statement of cash flow for the six months ended June 30, 2022 are summarized in the following table (in thousands):


	Six Months Ended June 30, 2022
	As Previously Reported			Adjustments			Ref	As Restated
Cash flows from operating activities
Net loss	$	(18,839	)	$	216		(a)(b)	$	(18,623	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		6,566			—				6,566
Reversal of excess and obsolete inventories		(446	)		—				(446	)
Stock-based compensation		4,465			—				4,465
Change in fair value of financial instruments		—			(414	)	(b)		(414	)
Other		(1,514	)		—				(1,514	)
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable		(6,825	)		—				(6,825	)
Inventories		(11,518	)		198		(a)		(11,320	)
Accounts payable		1,537			—				1,537
Accrued expenses		1,992			—				1,992
Income tax receivable/payable		454			—				454
Other assets and liabilities		289			—				289
Net cash used in operating activities		(23,839	)		—				(23,839	)

Cash flows from investing activities
Purchases of property and equipment		(29,204	)		—				(29,204	)
Proceeds from sale of property and equipment		519			—				519
Purchases of intangible assets		(783	)		—				(783	)
Acquisition of Disior, net of cash received		(18,504	)		—				(18,504	)
Net cash used in investing activities		(47,972	)		—				(47,972	)

Cash flows from financing activities
Proceeds from draw on term loan		20,000			—				20,000
Proceeds from issuance of long-term debt		16,000			—				16,000
Payments on long-term debt		(178	)		—				(178	)
Payments of debt issuance costs		(405	)		—				(405	)
Proceeds from exercise of stock options		300			—				300
Net cash provided by financing activities		35,717			—				35,717

Effect of exchange rate changes on cash		(256	)		—				(256	)
Net increase (decrease) in cash		(36,350	)		—				(36,350	)
Cash at beginning of period		109,352			—				109,352
Cash at end of period	$	73,002		$	—			$	73,002

Supplemental disclosures of cash flow information:
Cash paid for taxes	$	386		$	—			$	386
Cash paid for interest		1,520			—				1,520
Purchase of property and equipment included in accounts payable		3,088			—				3,088

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.

As of and for the Three Months Ended March 31, 2022:

The effects of the revision on the condensed consolidated balance sheet as of March 31, 2022 are summarized in the following table (in thousands, except share and per share data):


	March 31, 2022
	As Previously Reported			Adjustments			Ref	As Restated
ASSETS
Current assets:
Cash	$	93,647		$	—			$	93,647
Trade receivables, net of allowance for doubtful accounts of $1,310		27,653			—				27,653
Inventories, net		43,185			—				43,185
Income taxes receivable		622			—				622
Other current assets		3,448			—				3,448
Total current assets		168,555			—				168,555

Property and equipment, net		51,850			—				51,850
Intangible assets, net		21,350			—				21,350
Goodwill		26,672			—				26,672
Deferred income taxes		303			—				303
Total assets	$	268,730		$	—			$	268,730

LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	11,877		$	—			$	11,877
Accrued expenses		17,827			—				17,827
Other current liabilities		7,433			—				7,433
Current maturities of long-term debt		781			—				781
Income taxes payable		492			—				492
Total current liabilities		38,410			—				38,410

Long-term liabilities:
Long-term debt net, less current maturities		42,471			—				42,471
Other long-term liabilities		2,518			605		(b)		3,123
Deferred income taxes		302			—				302
Income taxes payable		527			—				527
Total liabilities		84,228			605				84,833

Commitments and contingencies

Stockholders’ equity:
Common stock, $0.01 par value, 300,000,000 shares authorized; 77,362,681 shares issued, and 76,449,162 shares outstanding as of March 31, 2022		763			—				763
Additional paid in capital		199,736			—				199,736
Accumulated deficit		(9,699	)		(605	)	(b)		(10,304	)
Accumulated other comprehensive loss		(316	)		—				(316	)
Treasury stock, at cost; 913,519 shares as of March 31, 2022		(5,982	)		—				(5,982	)
Total stockholders’ equity		184,502			(605	)			183,897
Total liabilities & stockholders’ equity	$	268,730		$	—			$	268,730

The description of the error is in the Description of Misstatement Adjustments provided in Note 3 Restatement of Previously Issued Consolidated Financial Statements. The impact of the error for the corresponding period in the above table is described below:

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other long-term liabilities and an increase to Accumulated deficit of $605 as of March 31, 2022.

The effects of the revision on the condensed consolidated statement of operations and comprehensive income (loss) for the three months ended March 31, 2022 are summarized in the following table (in thousands, except share and per share data):


	Three Months Ended March 31, 2022
	As Previously Reported			Adjustments			Ref	As Restated
Net revenue	$	41,371		$	—			$	41,371
Cost of goods sold		6,791			—				6,791
Gross profit		34,580			—				34,580

Operating expenses:
Research and development costs		5,773			—				5,773
Selling, general, and administrative		37,242			—				37,242
Total operating expenses		43,015			—				43,015
Operating loss		(8,435	)		—				(8,435	)

Other expense:
Other expense		(101	)		(605	)	(b)		(706	)
Interest expense, net		(668	)		—				(668	)
Total other expense		(769	)		(605	)			(1,374	)
Loss before income taxes		(9,204	)		(605	)			(9,809	)
Income tax (benefit) expense		32			—				32
Net loss	$	(9,236	)	$	(605	)		$	(9,841	)
Foreign currency translation adjustment		(324	)		—				(324	)
Comprehensive loss	$	(9,560	)	$	(605	)		$	(10,165	)
Weighted average number of shares of common stock outstanding:
Basic		76,447,454			—				76,447,454
Diluted		76,447,454			—				76,447,454
Net loss per share attributable to common stockholders:
Basic	$	(0.12	)	$	(0.01	)		$	(0.13	)
Diluted	$	(0.12	)	$	(0.01	)		$	(0.13	)

The description of the error is in the Description of Misstatement Adjustments provided in Note 3 Restatement of Previously Issued Consolidated Financial Statements. The impact of the error for the corresponding period in the above table is described below:

(b) Interest Rate Swap - The correction of the misstatement resulted in an increase to Other expense of $605 for the three months ended March 31, 2022.

The effects of the revision on the condensed consolidated statement of cash flow for the three months ended March 31, 2022 are summarized in the following table (in thousands):


	Three Months Ended March 31, 2022
	As Previously Reported			Adjustments			Ref	As Restated
Cash flows from operating activities
Net loss	$	(9,236	)	$	(605	)	(b)	$	(9,841	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		3,030			—				3,030
Allowance for doubtful accounts		600			—				600
Reversal of excess and obsolete inventories		(643	)		—				(643	)
Stock-based compensation		2,122			—				2,122
Change in fair value of financial instruments		—			605		(b)		605
Other		387			—				387
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable		(2,240	)		—				(2,240	)
Inventories		(2,329	)		—				(2,329	)
Other current assets		(3	)		—				(3	)
Accounts payable		(1,178	)		—				(1,178	)
Accrued expenses and other current liabilities		(682	)		—				(682	)
Income tax payable		669			—				669
Net cash used in operating activities		(9,503	)		—				(9,503	)

Cash flows from investing activities
Purchases of property and equipment		(23,036	)		—				(23,036	)
Proceeds from sale of property and equipment		305			—				305
Purchases of intangible assets		(704	)		—				(704	)
Acquisition of Disior, net of cash received		(18,201	)		—				(18,201	)
Net cash used in investing activities		(41,636	)		—				(41,636	)

Cash flows from financing activities
Proceeds from draw on term loan		20,000			—				20,000
Proceeds from issuance of long-term debt		16,000			—				16,000
Payments on long-term debt		(37	)		—				(37	)
Payments of debt issuance costs		(405	)		—				(405	)
Proceeds from exercise of stock options		12			—				12
Net cash provided by financing activities		35,570			—				35,570

Effect of exchange rate changes on cash		(136	)		—				(136	)
Net increase (decrease) in cash		(15,705	)		—				(15,705	)
Cash at beginning of period		109,352			—				109,352
Cash at end of period	$	93,647		$	—			$	93,647

Supplemental disclosures of cash flow information:
Cash paid for taxes	$	—		$	—			$	—
Cash paid for interest		273			—				273
Purchase of property and equipment included in accounts payable		1,804			—				1,804

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.

Schedule of Effect of Restatement on the Condensed Consolidated Statement of Stockholders' Equity

2023 Effect of Restatement on the Condensed Consolidated Statement of Stockholders' Equity:

The effects of the restatement on the condensed consolidated statements of stockholders' equity for each of the three periods ended March 31, 2023, June 30, 2023, and September 30, 2023, are summarized in the following table, respectively:



											Accumulated
		Common				Additional					Other						Total
		Stock				Paid-in-		Accumulated			Comprehensive			Treasury			Stockholders’
As Previously Reported	Ref	Shares		Amount		Capital		Deficit			Loss			Stock			Equity
Balance, January 1, 2023			77,770,588	$	776	$	213,956	$	(67,789	)	$	(33	)	$	(5,982	)	$	140,928
Net loss			—		—		—		(9,052	)		—			—			(9,052	)
Issuance of common stock			4,312,500		43		68,406		—			—			—			68,449
Options exercised			223,785		2		1,620		—			—			—			1,622
Foreign currency translation			—		—		—		—			(99	)		—			(99	)
Employee stock purchase plan			—		—		122		—			—			—			122
Stock-based compensation			—		—		3,182		—			—			—			3,182
Balance, March 31, 2023			82,306,873		821		287,286		(76,841	)		(132	)		(5,982	)		205,152
Adjustments
Balance, January 1, 2023			—		—		—		1,677			—			—			1,677
Net loss	(a)(b)		—		—		—		(1,760	)		—			—			(1,760	)
Issuance of common stock			—		—		—		—			—			—			—
Options exercised			—		—		—		—			—			—			—
Foreign currency translation			—		—		—		—			—			—			—
Employee stock purchase plan			—		—		—		—			—			—			—
Stock-based compensation			—		—		—		—			—			—			—
Balance, March 31, 2023			—		—		—		(83	)		—			—			(83	)
As Restated
Balance, January 1, 2023			77,770,588		776		213,956		(66,112	)		(33	)		(5,982	)		142,605
Net loss			—		—		—		(10,812	)		—			—			(10,812	)
Issuance of common stock			4,312,500		43		68,406		—			—			—			68,449
Options exercised			223,785		2		1,620		—			—			—			1,622
Foreign currency translation			—		—		—		—			(99	)		—			(99	)
Employee stock purchase plan			—		—		122		—			—			—			122
Stock-based compensation			—		—		3,182		—			—			—			3,182
Balance, March 31, 2023			82,306,873	$	821	$	287,286	$	(76,924	)	$	(132	)	$	(5,982	)	$	205,069

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.



											Accumulated
		Common				Additional					Other						Total
		Stock				Paid-in-		Accumulated			Comprehensive			Treasury			Stockholders’
As Previously Reported	Ref	Shares		Amount		Capital		Deficit			Loss			Stock			Equity
Balance, March 31, 2023			82,306,873	$	821	$	287,286	$	(76,841	)	$	(132	)	$	(5,982	)	$	205,152
Net loss			—		—		—		(10,898	)		—			—			(10,898	)
Offering costs associated with public offering			—		—		4		—			—			—			4
Options exercised			192,027		3		840		—			—			—			843
Foreign currency translation			—		—		—		—			(283	)		—			(283	)
Employee stock purchase plan			37,146		—		620		—			—			—			620
Stock-based compensation			—		—		3,600		—			—			—			3,600
Balance, June 30, 2023			82,536,046		824		292,350		(87,739	)		(415	)		(5,982	)		199,038
Adjustments
Balance, March 31, 2023			—		—		—		(83	)		—			—			(83	)
Net loss	(a)(b)		—		—		—		(2,350	)		—			—			(2,350	)
Offering costs associated with public offering			—		—		—		—			—			—			—
Options exercised			—		—		—		—			—			—			—
Foreign currency translation			—		—		—		—			—			—			—
Employee stock purchase plan			—		—		—		—			—			—			—
Stock-based compensation			—		—		—		—			—			—			—
Balance, June 30, 2023			—		—		—		(2,433	)		—			—			(2,433	)
As Restated
Balance, March 31, 2023			82,306,873		821		287,286		(76,924	)		(132	)		(5,982	)		205,069
Net loss			—		—		—		(13,248	)		—			—			(13,248	)
Offering costs associated with public offering			—		—		4		—			—			—			4
Options exercised			192,027		3		840		—			—			—			843
Foreign currency translation			—		—		—		—			(283	)		—			(283	)
Employee stock purchase plan			37,146		—		620		—			—			—			620
Stock-based compensation			—		—		3,600		—			—			—			3,600
Balance, June 30, 2023			82,536,046	$	824	$	292,350	$	(90,172	)	$	(415	)	$	(5,982	)	$	196,605

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.



											Accumulated
		Common				Additional					Other						Total
		Stock				Paid-in-		Accumulated			Comprehensive			Treasury			Stockholders’
As Previously Reported	Ref	Shares		Amount		Capital		Deficit			Loss			Stock			Equity
Balance, June 30, 2023			82,536,046	$	824	$	292,350	$	(87,739	)	$	(415	)	$	(5,982	)	$	199,038
Net loss			—		—		—		(8,332	)		—			—			(8,332	)
Options exercised			19,861		—		70		—			—			—			70
Foreign currency translation			—		—		—		—			(630	)		—			(630	)
Employee stock purchase plan			—		—		86		—			—			—			86
Stock-based compensation			—		—		3,512		—			—			—			3,512
Balance, September 30, 2023			82,555,907		824		296,018		(96,071	)		(1,045	)		(5,982	)		193,744
Adjustments
Balance, June 30, 2023			—		—		—		(2,433	)		—			—			(2,433	)
Net loss	(a)(b)		—		—		—		(2,819	)		—			—			(2,819	)
Options exercised			—		—		—		—			—			—			—
Foreign currency translation			—		—		—		—			—			—			—
Employee stock purchase plan			—		—		—		—			—			—			—
Stock-based compensation			—		—		—		—			—			—			—
Balance, September 30, 2023			—		—		—		(5,252	)		—			—			(5,252	)
As Restated
Balance, June 30, 2023			82,536,046		824		292,350		(90,172	)		(415	)		(5,982	)		196,605
Net loss			—		—		—		(11,151	)		—			—			(11,151	)
Options exercised			19,861		—		70		—			—			—			70
Foreign currency translation			—		—		—		—			(630	)		—			(630	)
Employee stock purchase plan			—		—		86		—			—			—			86
Stock-based compensation			—		—		3,512		—			—			—			3,512
Balance, September 30, 2023			82,555,907	$	824	$	296,018	$	(101,323	)	$	(1,045	)	$	(5,982	)	$	188,492

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.

2022 Effect of Revision on the Condensed Consolidated Statement of Stockholders' Equity:

The effects of the revision on the condensed consolidated statements of stockholders' equity for each of the three periods ended March 31, 2022, June 30, 2022, and September 30, 2022, are summarized in the following table, respectively:



												Accumulated
		Common				Additional						Other						Total
		Stock				Paid-in-			Accumulated			Comprehensive			Treasury			Stockholders’
As Previously Reported	Ref	Shares		Amount		Capital			Deficit			Loss			Stock			Equity
Balance, January 1, 2022			76,447,287	$	763	$	197,868		$	(463	)	$	8		$	(5,982	)	$	192,194
Net loss			—		—		—			(9,236	)		—			—			(9,236	)
Issuance of common stock			—		—		—			—			—			—			—
Offering costs associated with initial public offering			—		—		(266	)		—			—			—			(266	)
Options exercised			1,875		—		12			—			—			—			12
Foreign currency translation			—		—		—			—			(324	)		—			(324	)
Stock-based compensation			—		—		2,122			—			—			—			2,122
Balance, March 31, 2022			76,449,162		763		199,736			(9,699	)		(316	)		(5,982	)		184,502
Adjustments
Balance, January 1, 2022			—		—		—			—			—			—			—
Net loss	(b)		—		—		—			(605	)		—			—			(605	)
Issuance of common stock			—		—		—			—			—			—			—
Offering costs associated with initial public offering			—		—		—			—			—			—			—
Options exercised			—		—		—			—			—			—			—
Foreign currency translation			—		—		—			—			—			—			—
Stock-based compensation			—		—		—			—			—			—			—
Balance, March 31, 2022			—		—		—			(605	)		—			—			(605	)
As Restated
Balance, January 1, 2022			76,447,287		763		197,868			(463	)		8			(5,982	)		192,194
Net loss			—		—		—			(9,841	)		—			—			(9,841	)
Issuance of common stock			—		—		—			—			—			—			—
Offering costs associated with initial public offering			—		—		(266	)		—			—			—			(266	)
Options exercised			1,875		—		12			—			—			—			12
Foreign currency translation			—		—		—			—			(324	)		—			(324	)
Stock-based compensation			—		—		2,122			—			—			—			2,122
Balance, March 31, 2022			76,449,162	$	763	$	199,736		$	(10,304	)	$	(316	)	$	(5,982	)	$	183,897

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.



											Accumulated
		Common				Additional					Other						Total
		Stock				Paid-in-		Accumulated			Comprehensive			Treasury			Stockholders’
As Previously Reported	Ref	Shares		Amount		Capital		Deficit			Loss			Stock			Equity
Balance, March 31, 2022			76,449,162	$	763	$	199,736	$	(9,699	)	$	(316	)	$	(5,982	)	$	184,502
Net loss			—		—		—		(9,603	)		—			—			(9,603	)
Options exercised			88,406		1		288		—			—			—			289
Foreign currency translation			—		—		—		—			(593	)		—			(593	)
Stock-based compensation			—		—		2,343		—			—			—			2,343
Balance, June 30, 2022			76,537,568		764		202,367		(19,302	)		(909	)		(5,982	)		176,938
Adjustments
Balance, March 31, 2022			—		—		—		(605	)		—			—			(605	)
Net loss	(a)(b)		—		—		—		821			—			—			821
Options exercised			—		—		—		—			—			—			—
Foreign currency translation			—		—		—		—			—			—			—
Stock-based compensation			—		—		—		—			—			—			—
Balance, June 30, 2022			—		—		—		216			—			—			216
As Restated
Balance, March 31, 2022			76,449,162		763		199,736		(10,304	)		(316	)		(5,982	)		183,897
Net loss			—		—		—		(8,782	)		—			—			(8,782	)
Options exercised			88,406		1		288		—			—			—			289
Foreign currency translation			—		—		—		—			(593	)		—			(593	)
Stock-based compensation			—		—		2,343		—			—			—			2,343
Balance, June 30, 2022			76,537,568	$	764	$	202,367	$	(19,086	)	$	(909	)	$	(5,982	)	$	177,154

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.



											Accumulated
		Common				Additional					Other						Total
		Stock				Paid-in-		Accumulated			Comprehensive			Treasury			Stockholders’
As Previously Reported	Ref	Shares		Amount		Capital		Deficit			Loss			Stock			Equity
Balance, June 30, 2022			76,537,568	$	764	$	202,367	$	(19,302	)	$	(909	)	$	(5,982	)	$	176,938
Net loss			—		—		—		(9,724	)		—			—			(9,724	)
Options exercised			539,203		5		2,055		—			—			—			2,060
Foreign currency translation			—		—		—		—			(588	)		—			(588	)
Employee stock purchase plan			—		—		100		—			—			—			100
Stock-based compensation			—		—		2,587		—			—			—			2,587
Balance, September 30, 2022			77,076,771		769		207,109		(29,026	)		(1,497	)		(5,982	)		171,373
Adjustments
Balance, June 30, 2022			—		—		—		216			—			—			216
Net loss	(a)(b)		—		—		—		1,177			—			—			1,177
Options exercised			—		—		—		—			—			—			—
Foreign currency translation			—		—		—		—			—			—			—
Employee stock purchase plan			—		—		—		—			—			—			—
Stock-based compensation			—		—		—		—			—			—			—
Balance, September 30, 2022			—		—		—		1,393			—			—			1,393
As Restated
Balance, June 30, 2022			76,537,568		764		202,367		(19,086	)		(909	)		(5,982	)		177,154
Net loss			—		—		—		(8,547	)		—			—			(8,547	)
Options exercised			539,203		5		2,055		—			—			—			2,060
Foreign currency translation			—		—		—		—			(588	)		—			(588	)
Employee stock purchase plan			—		—		100		—			—			—			100
Stock-based compensation			—		—		2,587		—			—			—			2,587
Balance, September 30, 2022			77,076,771	$	769	$	207,109	$	(27,633	)	$	(1,497	)	$	(5,982	)	$	172,766

See descriptions of the Net loss impacts in the Consolidated Statement of Operations and Comprehensive Loss.