Business Combination (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Summary of Purchase Price Allocation

The purchase price allocation is as follows (in thousands):

Allocation of purchase price:	Amount
Common stock exchanged	$	4,055
Fair value of GIGA equity awards		349
Cash consideration paid to existing preferred stockholders		3,794
Total consideration	$	8,198
Identifiable net assets acquired (liabilities assumed)
Cash	$	107
Trade accounts receivables		536
Inventories		2,529
Prepaid expenses		116
Accrued revenue		363
Property and equipment		331
Right-of-use asset		370
Other long-term assets		269
Accounts payable		(2,831	)
Loans payable, net of discounts and issuance costs		(1,687	)
Accrued payroll and benefits		(1,488	)
Lease obligations		(491	)
Other current liabilities		(368	)
Other non-current liabilities		(17	)
Net assets acquired		(2,261	)
Goodwill	$	10,459

Summary of Unaudited Pro Forma Financial Information

The following table represents the unaudited consolidated proforma results of operations for the year ended December 31, 2022 as if the acquisition occurred on January 1, 2022.

Proforma, unaudited (in thousands)	Gresham			Giga-tronics			Proforma		Proforma
Year ended December 31, 2022	Worldwide, Inc.						Adjustments		Unaudited
Net Sales	$	28,825		$	5,651		$	—	$	34,476
Cost of Sales		20,227			5,151			—		25,378
Operating expenses		12,136			18,426			—		30,562
Other expense		987			1,276			—		2,263
Income tax benefit		123			—			—		123
Net gain attributable to non-controlling interest		680			—			—		680
Net loss attributable to common stockholders	$	(3,722	)	$	(19,202	)	$	—	$	(22,924	)