XML 19 R9.htm IDEA: XBRL DOCUMENT v3.26.1
Supplemental Balance Sheet Data and Cash Flow Information
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Data and Cash Flow Information Supplemental Balance Sheet Data and Cash Flow Information
Cash and cash equivalents — Cash and cash equivalents include securities with original maturities of three months or less and cash in banks, and our investment in a money market fund, which is classified as a cash equivalent because of its short-term, highly liquid nature that is readily convertible to cash. The balance in our money market account was approximately $15.6 million and $19.6 million at March 31, 2026 and December 31, 2025, respectively. The fair value of our investment in a money market fund is considered Level 1 in the fair value hierarchy because they are securities traded in active markets.
Accounts Receivable, net — The components of accounts receivable, net were as follows:
 March 31, 2026December 31, 2025
Accounts receivable$44.3 $48.6 
Allowance for doubtful accounts(0.7)(0.9)
Accounts receivable, net$43.6 $47.7 
At March 31, 2026 and December 31, 2025, we had one customer with an accounts receivable balance that represented 24.3% and 33.2% of our accounts receivable balance, respectively.
Inventories — The components of inventories were as follows:
 March 31, 2026December 31, 2025
Raw materials$12.4 $13.6 
Work-in-process2.7 5.6 
Finished goods18.6 11.4 
Inventories$33.7 $30.6 
Property, Plant, and Equipment, net — The following table details our property, plant, and equipment, net:
 March 31, 2026December 31, 2025
Land$2.4 $2.4 
Buildings and improvements12.9 12.8 
Leasehold improvements22.5 22.9 
Machinery and equipment42.4 43.2 
Computer and office equipment19.8 19.9 
Converting machines255.4 253.5 
Total property, plant, and equipment355.4 354.7 
Accumulated depreciation(220.1)(216.0)
Property, plant, and equipment, net$135.3 $138.7 
Depreciation expense recorded in cost of sales, which includes the cost of product sales and cost of leased machines, and depreciation and amortization expense in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss was as follows:
 Three Months Ended March 31,
20262025
Cost of sales$7.8 $6.1 
Depreciation and amortization expense1.8 1.7 
Total depreciation expense$9.6 $7.8 
Accrued Liabilities and Other – The components of accrued liabilities and other were as follows:
 March 31, 2026December 31, 2025
Employee compensation$9.2 $7.8 
Taxes4.8 5.4 
Professional fees2.9 3.2 
Bonus3.6 2.7 
Warranty reserve0.5 0.8 
Other3.8 4.0 
Accrued liabilities and other$24.8 $23.9 
Supplemental Cash Flow Information and Non-Cash Investing Activities — Supplemental cash flow information is as follows:
 Three Months Ended March 31,
 20262025
Supplemental cash flow information
Interest paid$8.3 $10.3 
Income taxes paid$0.2 $— 
Non-cash investing activities
Capital expenditures in accounts payable$1.2 $2.1