Note 12 - Restructuring

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

12. RESTRUCTURING

On February 8, 2024, the Company committed to a fixed cost-cutting plan, including a reduction in workforce which resulted in the termination of approximately 17 employees and 26 contractors globally. The Company incurred $0.6 million of restructuring charges during the year ended December 31, 2024.

The accounting for the restructuring costs follows the provisions of ASC 420, "Accounting for Costs Associated with Exit or Disposal Activities," which requires the recognition of a liability once the restructuring plan is communicated to affected employees and meets the criteria of being probable and reasonably estimable. The Company recognizes a liability for employee severance, other benefits, and involuntary terminations on the communication date.

The following tables provide a summary of the restructuring costs incurred:

	Three Months Ended		Three Months Ended
	March 31, 2024		March 31, 2025
	(in thousands)		(in thousands)
Employee severance	$	551	$	—
Other restructuring costs		7		—
Total restructuring costs	$	558	$	—

As of December 31, 2024 and March 31, 2025, the Company did not have a liability for restructuring costs.

The Company will continue to assess the restructuring plan's progress and provide updates as required in future financial statements if there are material changes to the initial estimates or additional significant restructuring activities.