v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (3,952,000) $ (421,000)
Adjustments to reconcile net loss to cash provided by (used in) operating activities    
Stock-based compensation 6,106,000 8,512,000
Depreciation and amortization 2,819,000 3,050,000
Right of use asset amortization 1,434,000 1,317,000
Accretion (amortization) of discounts (premiums) on investments (308,000) (1,049,000)
Deferred income taxes (707,000) (705,000)
Impairment of long-lived assets 353,000 0
Inventory reserve adjustment 575,000 136,000
Other non-cash adjustments (91,000) 171,000
Changes in operating assets and liabilities:    
Accounts receivable, net 19,946,000 15,060,000
Contract assets (17,000) (882,000)
Inventories, net (9,320,000) (7,686,000)
Prepaid and other assets (1,063,000) (2,159,000)
Accounts payable 1,212,000 879,000
Accrued expenses and other liabilities (6,656,000) (6,467,000)
Contract liabilities 1,362,000 1,811,000
Net cash provided by operating activities 11,693,000 11,567,000
Cash flows from investing activities:    
Maturities of marketable securities 60,150,000 59,423,000
Purchases of marketable securities (22,480,000) (80,490,000)
Capital expenditures (668,000) (1,194,000)
Proceeds from sales of fixed assets 10,000 90,000
Net cash provided by (used in) investing activities 37,012,000 (22,171,000)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 1,364,000 5,795,000
Repurchase of common stock (32,178,000) 0
Payment of excise tax associated with repurchase of common stock (603,000) 0
Net cash (used in) provided by financing activities (31,417,000) 5,795,000
Effect of exchange rate differences on cash and cash equivalents 58,000 (23,000)
Net change in cash, cash equivalents and restricted cash 17,346,000 (4,832,000)
Cash, cash equivalents and restricted cash, beginning of year 29,757,000 68,225,000
Cash, cash equivalents and restricted cash, end of period $ 47,103,000 $ 63,393,000

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