v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (7,826,000) $ (8,902,000)
Adjustments to reconcile net loss to cash provided by operating activities    
Stock-based compensation 3,899,000 6,100,000
Depreciation and amortization 1,906,000 2,041,000
Right of use asset amortization 936,000 870,000
Accretion (amortization) of discounts (premiums) on investments (350,000) (596,000)
Deferred income taxes (1,337,000) (1,117,000)
Impairment of long-lived assets 353,000 0
Other non-cash adjustments 235,000 288,000
Changes in operating assets and liabilities:    
Accounts receivable, net 31,479,000 26,235,000
Contract assets (185,000) 64,000
Inventories, net (8,027,000) (7,880,000)
Prepaid and other assets (707,000) (568,000)
Accounts payable 272,000 2,278,000
Accrued expenses and other liabilities (6,986,000) (6,270,000)
Contract liabilities 1,162,000 2,027,000
Net cash provided by operating activities 14,824,000 14,570,000
Cash flows from investing activities:    
Maturities of marketable securities 51,125,000 30,385,000
Purchases of marketable securities (17,243,000) (73,280,000)
Capital expenditures (326,000) (1,025,000)
Proceeds from sales of fixed assets 10,000 90,000
Net cash provided by (used in) investing activities 33,566,000 (43,830,000)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 983,000 1,502,000
Repurchase of common stock (21,577,000) 0
Payment of excise tax associated with repurchase of common stock (432,000) 0
Net cash (used in) provided by financing activities (21,026,000) 1,502,000
Effect of exchange rate differences on cash and cash equivalents 60,000 (24,000)
Net change in cash, cash equivalents and restricted cash 27,424,000 (27,782,000)
Cash, cash equivalents and restricted cash, beginning of year 29,757,000 68,225,000
Cash, cash equivalents and restricted cash, end of period $ 57,181,000 $ 40,443,000

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