Note 10 - Derivative Contracts

6 Months Ended

Jun. 30, 2025

Derivative [Abstract]

Derivative Contracts

NOTE 10 DERIVATIVE CONTRACTS

The following table summarizes the fair values and the presentation of our derivative financial instruments in the Condensed Consolidated Balance Sheets:

	Balance Sheet	June 30,			December 31,
(In thousands)	Component	2025			2024
Derivative financial instruments:
Common Stock options/warrants	Investments, net	$	3		$	3
Forward contracts	Unrealized losses on forward contracts are recorded in Accrued expenses.	$	(180	)	$	—

We enter into foreign currency forward exchange contracts with respect to the risk of exposure to exchange rate differences arising from inventory purchases on letters of credit. Under these forward contracts, for any rate above or below the fixed rate, we receive or pay the difference between the spot rate and the fixed rate for the given amount at the settlement date.

To qualify the derivative instrument as a hedge, we are required to meet strict hedge effectiveness and contemporaneous documentation requirements at the initiation of the hedge and assess the hedge effectiveness on an ongoing basis over the life of the hedge. At June 30, 2025 and December 31, 2024, our derivative financial instruments did not meet the documentation requirements to be designated as hedges. Accordingly, we recognize the changes in fair value of derivative instruments, net in our Condensed Consolidated Statement of Operations.

The following table summarizes the losses and gains recorded for the three and six months ended June 30, 2025 and 2024:

	Three months ended June 30,				Six months ended June 30,
(In thousands)	2025		2024		2025			2024
Derivative gain (loss):
Notes	$	—	$	—	$	—		$	(26,250	)
Common Stock options/warrants		—		1		—			2
Forward contracts		16		—		(257	)		88
Total	$	16	$	1	$	(257	)	$	(26,160	)