Details of Certain Financial Statement Components

3 Months Ended

Mar. 31, 2026

Details of Certain Financial Statement Components

Details of Certain Financial Statement Components

Note 2 – Details of Certain Financial Statement Components

The following tables provide details of selected balance sheet items:

	March 31,		December 31,
	2026		2025
Accounts receivable, net	(in thousands)
Accounts receivable, gross	$	1,760	$	1,593
Allowance for expected credit losses		(51)		(51)
Accounts receivable, net	$	1,709	$	1,542

	Three Months		Three Months
	Ended		Ended
	March 31,		March 31,
	2026		2025
Allowance for expected credit losses	(in thousands)
Balance, beginning of period	$	51	$	34
Provisions for expected credit losses, net of recoveries		1		5
Foreign currency exchange rate changes		(1)		1
Balance, end of period	$	51	$	40

	March 31,		December 31,
	2026		2025
Inventories	(in thousands)
Raw materials	$	1,459	$	1,344
Work-in-process		230		204
Finished goods		298		253
Total inventories	$	1,987	$	1,801

	March 31,		December 31,
	2026		2025
Property, plant and equipment, net	(in thousands)
Furniture, machinery and equipment	$	2,241	$	2,243
Leasehold improvements		530		527
		2,771		2,770
Less: accumulated depreciation		(2,349)		(2,296)
Total property, plant and equipment, net	$	422	$	474

Depreciation expense totaled $47,000 for each of the three months ended March 31, 2026 and 2025.

	Weighted	March 31, 2026						December 31, 2025
	Average	Gross				Net		Gross				Net
	Amortization	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Period	Amount		Amortization		Amount		Amount		Amortization		Amount
Intangible assets, net		(in thousands)
Patents, tradenames, and trademarks	5 Years	$	943	$	(825)	$	118	$	948	$	(817)	$	131
Developed technology	3.5 Years		644		(537)		107		654		(504)		150
Customer relationships	6 Years		1,496		(806)		690		1,525		(761)		764
Non-compete agreements	4 Years		962		(738)		224		981		(693)		288
Total intangible assets, net		$	4,045	$	(2,906)	$	1,139	$	4,108	$	(2,775)	$	1,333

Amortization expense totaled $172,000 for each of the three months ended March 31, 2026 and 2025. Future remaining amortization expense is as follows:

Years ending December 31,	(in thousands)
2026 (remainder of year)	$	416
2027		369
2028		285
2029		69
	$	1,139

The changes in the carrying amount of goodwill for the periods ended March 31, 2026 and 2025 are as follows:

	(in thousands)
Balance as of January 1, 2026	$	2,586
Adjustment to goodwill, foreign currency exchange rate changes		(47)
Balance as of March 31, 2026	$	2,539

	(in thousands)
Balance as of January 1, 2025	$	2,658
Adjustment to goodwill, acquisition price allocation of Conductive Transfers		(232)
Adjustment to goodwill, foreign currency exchange rate changes		65
Balance as of March 31, 2025	$	2,491

Accrued liabilities consisted of the following:

	March 31,		December 31,
	2026		2025
Accrued liabilities	(in thousands)
Accrued wages and benefits	$	136	$	185
Accrued vacation		126		113
Other accrued liabilities		43		32
Total accrued liabilities	$	305	$	330