Harvard Bioscience (HBIO) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Document Information [Line Items]
Entity Central Index Key	0001123494
Entity Registrant Name	HARVARD BIOSCIENCE INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-33957
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3306140
Entity Address, Address Line One	84 October Hill Road
Entity Address, City or Town	Holliston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01746
City Area Code	508
Local Phone Number	893-8999
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	HBIO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,241,449

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 5,433	$ 7,821
Accounts receivable, net	20,274	21,834
Inventories	28,711	27,587
Other current assets	5,030	4,341
Total current assets	59,448	61,583
Property, plant and equipment, net	3,499	3,415
Operating lease right-of-use assets	6,605	6,897
Goodwill	57,356	57,689
Intangible assets, net	25,878	27,385
Other long-term assets	5,258	5,375
Total assets	158,044	162,344
Current liabilities:
Current portion of long-term debt	2,720	3,235
Current portion, operating lease liabilities	2,151	2,142
Accounts payable	6,218	4,911
Deferred revenue	3,956	4,266
Other current liabilities	12,181	10,762
Total current liabilities	27,226	25,316
Long-term debt, net	46,244	45,095
Deferred tax liability	1,442	1,558
Operating lease liabilities	6,159	6,488
Other long-term liabilities	598	486
Total liabilities	81,669	78,943
Commitments and contingencies - Note 12
Stockholders' equity:
Preferred stock, par value $0.01 per share, 5,000,000 shares authorized	0	0
Common stock, par value $0.01 per share, 80,000,000 shares authorized: 41,241,449 shares issued and outstanding at March 31, 2022; 41,142,876 shares issued and outstanding at December 31, 2021	452	452
Additional paid-in-capital	226,203	225,650
Accumulated deficit	(139,554)	(132,674)
Accumulated other comprehensive loss	(10,726)	(10,027)
Total stockholders' equity	76,375	83,401
Total liabilities and stockholders' equity	$ 158,044	$ 162,344

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	41,241,449	41,142,876
Common stock, shares outstanding (in shares)	41,241,449	41,142,876

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues	$ 28,778	$ 26,989
Cost of revenues	12,601	11,558
Gross profit	16,177	15,431
Sales and marketing expenses	6,687	5,386
General and administrative expenses	6,325	6,333
Research and development expenses	3,220	2,487
Amortization of intangible assets	1,466	1,464
Settlement of litigation - Note 13	5,191	0
Total operating expenses	22,889	15,670
Operating loss	(6,712)	(239)
Other (expense) income:
Interest expense	(384)	(411)
Other income (expense), net	78	(34)
Total other expense	(306)	(445)
Loss before income taxes	(7,018)	(684)
Income tax benefit	(138)	(15)
Net loss	$ (6,880)	$ (669)
Loss per share:
Basic and diluted loss per common share (in dollars per share)	$ (0.17)	$ (0.02)
Weighted-average common shares:
Basic and diluted (in shares)	41,219	39,787

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net loss	$ (6,880)	$ (669)
Other comprehensive loss:
Foreign currency translation adjustments	(699)	(1,325)
Comprehensive loss	$ (7,579)	$ (1,994)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	47,153,000
Balance at Dec. 31, 2020	$ 444	$ 232,357	$ (132,386)	$ (13,066)	$ (10,668)	$ 76,681
Stock option exercises (in shares)	311,000
Stock option exercises	$ 4	1,920	0	0	0	1,924
Vesting of restricted stock units (in shares)	340,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(108,000)
Shares withheld for taxes	$ 0	(464)	0	0	0	(464)
Stock-based compensation expense	0	968	0	0	0	968
Net loss	0	0	(669)	0	0	(669)
Other comprehensive income (loss)	$ 0	0	0	(1,325)	0	(1,325)
Balance (in shares) at Mar. 31, 2021	47,696,000
Balance at Mar. 31, 2021	$ 448	234,781	(133,055)	(14,391)	(10,668)	77,115
Balance (in shares) at Dec. 31, 2021	41,143,000
Balance at Dec. 31, 2021	$ 452	225,650	(132,674)	(10,027)	0	$ 83,401
Stock option exercises (in shares)	11,000					10,987
Stock option exercises	$ 0	31	0	0	0	$ 31
Vesting of restricted stock units (in shares)	151,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(64,000)
Shares withheld for taxes	$ 0	(501)	0	0	0	(501)
Stock-based compensation expense	0	1,023	0	0	0	1,023
Net loss	0	0	(6,880)	0	0	(6,880)
Other comprehensive income (loss)	$ 0	0	0	(699)	0	(699)
Balance (in shares) at Mar. 31, 2022	41,241,000
Balance at Mar. 31, 2022	$ 452	$ 226,203	$ (139,554)	$ (10,726)	$ 0	$ 76,375

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (6,880)	$ (669)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	382	445
Amortization of intangible assets	1,466	1,464
Amortization of deferred financing costs	70	70
Stock-based compensation expense	1,023	968
Deferred income taxes and other	(123)	(53)
Changes in operating assets and liabilities:
Accounts receivable	1,506	584
Inventories	(1,308)	(602)
Other assets	(466)	(94)
Accounts payable and accrued expenses	2,729	(245)
Deferred revenue	(300)	(135)
Other liabilities	(85)	(696)
Net cash (used in) provided by operating activities	(1,986)	1,037
Cash flows from investing activities:
Additions to property, plant and equipment	(471)	(151)
Additions to intangible assets	0	(150)
Net cash used in investing activities	(471)	(301)
Cash flows from financing activities:
Borrowing from revolving line of credit	1,500	0
Repayment of revolving line of credit	0	(4,000)
Repayment of term debt	(936)	(500)
Debt issuance costs	0	(101)
Proceeds from exercise of stock options	31	1,924
Taxes paid related to net share settlement of equity awards	(501)	(464)
Net cash provided by (used in) financing activities	94	(3,141)
Effect of exchange rate changes on cash	(25)	(97)
Decrease in cash and cash equivalents	(2,388)	(2,502)
Cash and cash equivalents at beginning of period	7,821	8,317
Cash and cash equivalents at end of period	5,433	5,815
Supplemental disclosures of cash flow information:
Cash paid for interest	383	458
Cash paid (received) for income taxes, net of refunds	$ 107	$ (113)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, and Risks and Uncertainties	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Basis of Presentation and Summary of Significant Accounting Policies, and Risks and Uncertainties Basis of Presentation and Summary of Significant Accounting Policies The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, “Harvard Bioscience” or the “Company”) as of March 31, 2022 three March 31, 2022 2021, December 31, 2021, not not 10 December 31, 2021. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of March 31, 2022, three March 31, 2022 2021, three March 31, 2022, not The accounting policies underlying the accompanying unaudited consolidated financial statements are set forth in Note 2 10 December 31, 2021. no three March 31, 2022. Risks and Uncertainties On March 11, 2020, 19 19 19, 19 2022, 19. The global supply chain has experienced significant disruptions due to electronic component and labor shortages and other macroeconomic factors which have emerged since the onset of COVID- 19,

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2. Recently Issued Accounting Pronouncements Accounting Pronouncements to be Adopted In November 2021, 2021 10, Government Assistance (Topic 832 December 31, 2022 2021 10 In January 2017, 2017 04, Intangibles Goodwill and Other (Topic 350 2017 04 2 2017 04 December 15, 2022. 2017 04 In September 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 Instruments (ASU 2016 13 may 2016 13 2016 13 December 15, 2022, 2016 13

Note 3 - Goodwill and Intangibl

Note 3 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	3. Goodwill and Intangible Assets Goodwill The change in the carrying amount of goodwill for the three March 31, 2022, (in thousands) Carrying amount at December 31, 2021 $ 57,689 Effect of change in currency translation (333 ) Carrying amount at March 31, 2022 $ 57,356 Intangible Assets Identifiable intangible assets at March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 (in thousands) Average Accumulated Accumulated Amortizable intangible assets: Life* Gross Amortization Net Gross Amortization Net Distribution agreements/customer relationships 7.7 $ 17,594 $ (8,938 ) $ 8,656 $ 17,689 $ (8,675 ) $ 9,014 Existing technology 3.9 38,611 (24,786 ) 13,825 38,707 (23,962 ) 14,745 Trade names and patents 4.2 8,467 (5,304 ) 3,163 8,496 (5,108 ) 3,388 Total amortizable intangible assets $ 64,672 $ (39,028 ) $ 25,644 $ 64,892 $ (37,745 ) $ 27,147 Indefinite-lived intangible assets: 234 238 Total intangible assets $ 25,878 $ 27,385 * Weighted average life in years as of March 31, 2022 Intangible asset amortization expense was $1.5 million for each the three March 31, 2022 2021. five March 31, 2022, Amortization Year Ending December 31, Expense (in thousands) 2022 (remainder of year) $ 4,366 2023 5,728 2024 5,427 2025 4,109 2026 2,368 Thereafter 3,646 Total $ 25,644

Note 4 - Balance Sheet Informat

Note 4 - Balance Sheet Information	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	4. Balance Sheet Information The following tables provide details of selected balance sheet items as of the periods indicated: Inventories: March 31, December 31, (in thousands) 2022 2021 Finished goods $ 6,798 $ 5,646 Work in process 3,439 3,410 Raw materials 18,474 18,531 Total $ 28,711 $ 27,587 Other Current Liabilities: March 31, December 31, (in thousands) 2022 2021 Compensation $ 2,878 $ 6,048 Professional fees 396 480 Warranty costs 242 240 Customer related costs 2,058 2,265 Settlement of litigation 4,814 - Accrued income taxes 141 224 Other 1,653 1,505 Total $ 12,181 $ 10,762

Note 5 - Restructuring and Othe

Note 5 - Restructuring and Other Exit Costs	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	5. Restructuring and Other Exit Costs On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify operational efficiencies, enhance commercial capabilities, and align its cost base and infrastructure with customer needs and its strategic plans. In order to realize these opportunities, the Company undertakes restructuring-type activities from time to time to transform its business. A portion of these transformation activities are considered restructuring costs under ASC 420 Exit or Disposal Cost Obligations During 2019, 2021. three March 31, 2021,

Note 6 - Related Party Transact

Note 6 - Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	6. Related Party Transactions In connection with the 2014 2021. December 31, 2024. three March 31, 2022 2021.

Note 7 - Leases

Note 7 - Leases	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7. Leases The Company has noncancelable operating leases for offices, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030. The components of lease expense for the three March 31, 2022 2021, Three Months Ended March 31, (in thousands) 2022 2021 Operating lease cost $ 504 $ 517 Short-term lease cost 64 46 Sublease income (25 ) (25 ) Total lease cost $ 543 $ 538 Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended March 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: $ 594 $ 611 Right-of-use assets obtained in exchange for lease obligations: $ 39 $ - Supplemental balance sheet information related to the Company's operating leases was as follows: March 31, December 31, (in thousands) 2022 2021 Operating lease right-of-use assets $ 6,605 $ 6,897 Current portion, operating lease liabilities $ 2,151 $ 2,142 Operating lease liabilities, long-term 6,159 6,488 Total operating lease liabilities $ 8,310 $ 8,630 Weighted average remaining lease term (years) 6.5 6.7 Weighted average discount rate 9.3 % 9.3 % Future minimum lease payments for operating leases for each twelve March 31, 2022, Year Ending December 31, (in thousands) 2022 (remainder of year) $ 1,611 2023 2,133 2024 1,765 2025 1,019 2026 980 Thereafter 3,871 Total lease payments 11,379 Less imputed interest (3,069 ) Total operating lease liabilities $ 8,310

Note 8 - Capital Stock and Stoc

Note 8 - Capital Stock and Stock-based Compensation	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Shareholders' Equity and Share-Based Payments [Text Block]	8. Capital Stock and Stock-Based Compensation Stock-Based Payment Awards Stock-based awards consist of stock options, time-based restricted stock units (“RSUs”), performance-based RSU’s and shares issued under the Company’s employee stock purchase plan. Activity under the Company’s equity incentive plans for the three March 31, 2022, Weighted Stock Average Time-Based Performance- Options Exercise RSUs Grant Date Based RSUs Grant Date Outstanding Price Outstanding Fair Value Outstanding Fair Value Balance at December 31, 2021 1,404,816 $ 3.10 1,141,164 $ 3.57 860,155 $ 3.13 Granted - - 518,163 5.52 205,122 5.92 Exercised (10,987 ) 2.78 - - - - Vested (RSUs) - - (151,185 ) 2.30 - - Cancelled/Forfeited (3,126 ) 3.79 (12,917 ) 3.07 - - Balance at March 31, 2022 1,390,703 $ 3.10 1,495,225 $ 4.37 1,065,277 $ 3.67 Stock-based compensation expense for the three March 31, 2022 2021, Three Months Ended March 31, (in thousands) 2022 2021 Cost of revenues $ 36 $ 20 Sales and marketing expenses 154 93 General and administrative expenses 791 834 Research and development expenses 42 21 Total stock-based compensation expenses $ 1,023 $ 968 As of March 31, 2022, not not The weighted average estimated fair value of the performance-based RSUs that were granted during the three March 31, 2022 three March 31, 2022 2022 Volatility 65.1 % Risk-free interest rate 1.4 % Correlation coefficient 38.5 % Dividend yield - % Earnings (Loss) Per Share Basic earnings (loss) per share (EPS) is calculated by dividing net income (loss) by the number of weighted average shares of common stock outstanding during the period. The calculation of diluted earnings per share assumes conversion of stock options, time-based RSUs, and performance-based RSUs into common stock using the treasury method. The weighted average number of shares used to compute basic and diluted earnings per share consists of the following: Three Months Ended March 31, (in thousands) 2022 2021 Basic 41,219 39,787 Dilutive effect of equity awards - - Diluted 41,219 39,787 For the three March 31, 2022, 2021,

Note 9 - Long-Term Debt

Note 9 - Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Long-Term Debt [Text Block]	9. Long-Term Debt As of March 31, 2022 December 31, 2021, March 31, December 31, (in thousands) 2022 2021 Long-term debt: Term loan $ 37,064 $ 38,000 Revolving line 12,950 11,450 Less unamortized deferred financing costs (1,050 ) (1,120 ) Total debt 48,964 48,330 Current portion of long-term debt (3,000 ) (3,515 ) Current unamortized deferred financing costs 280 280 Long-term debt $ 46,244 $ 45,095 On December 22, 2020, none December 22, 2025. March 31, 2022. Borrowings under the Credit Facility will, at the option of the Company, bear interest at either (i) a rate per annum based on LIBOR for an interest period of one, two, three six no As of March 31, 2022, three March 31, 2022 2021, Commencing on March 31, 2021, three eight ninety December 31, 2021, may three March 31, 2022. The Credit Agreement includes customary affirmative, negative, and financial covenants binding on the Company. The negative covenants limit the ability of the Company, among other things, to incur debt, incur liens, make investments, sell assets and pay dividends on its capital stock. The financial covenants include a maximum consolidated net leverage ratio and a minimum consolidated fixed charge coverage ratio. The Credit Agreement also includes customary events of default. On April 28, 2022, 13 Subsequent Events March 31, 2022.

Note 10 - Revenues

Note 10 - Revenues	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	10. Revenues The following tables represent a disaggregation of revenue from contracts with customers for the three March 31, 2022 2021: Three Months Ended March 31, (in thousands) 2022 2021 Instruments, equipment, software and accessories $ 27,538 $ 25,827 Service, maintenance and warranty contracts 1,240 1,162 Total revenues $ 28,778 $ 26,989 The following tables represent a disaggregation of revenue by geographic destination for the three March 31, 2022 2021: Three Months Ended March 31, (in thousands) 2022 2021 United States $ 12,239 $ 11,177 Europe 7,823 8,589 Asia 6,733 5,538 Rest of the world 1,983 1,685 Total revenues $ 28,778 $ 26,989 Deferred revenue The following tables provide details of deferred revenue as of the periods indicated: March 31, December 31, (in thousands) 2022 2021 Service contracts $ 1,995 $ 1,976 Customer advances 1,961 2,290 Total deferred revenue $ 3,956 $ 4,266 During the three March 31, 2022 2021, December 31, 2021 2020, Allowance for Doubtful Accounts Allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts receivable. Activity in the allowance for doubtful accounts is as follows: Three Months Ended March 31, (in thousands) 2022 2021 Balance, beginning of period $ 136 $ 227 Bad debt (credit) expense (6 ) 5 Charge-offs and other 6 22 Balance, end of period $ 136 $ 254 Concentrations No 10% three March 31, 2022 2021. March 31, 2022 December 21, 2021, no 10%

Note 11 - Income Tax

Note 11 - Income Tax	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. Income Tax Income tax benefit was $0.1 million for the three March 31, 2022 three March 31, 2021. three March 31, 2022 2021, The difference between the Company’s effective tax rates in 2022 2021 21%

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. Commitments and Contingent Liabilities On April 14, 2017, 2013, third one two third 2012 2013. On April 28, 2022, 13 Subsequent Events Litigation Settlement The Company is involved in various other claims and legal proceedings arising in the ordinary course of business. After consultation with legal counsel, the Company has determined that the ultimate disposition of such proceedings is not not not one

Note 13 - Subsequent Events

Note 13 - Subsequent Events	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	13. Subsequent Events Litigation Settlement On April 27, 2022, one not March 31, 2022. March 31, 2022, Credit Agreement Amendment On April 28, 2022,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation and Summary of Significant Accounting Policies The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, “Harvard Bioscience” or the “Company”) as of March 31, 2022 three March 31, 2022 2021, December 31, 2021, not not 10 December 31, 2021. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of March 31, 2022, three March 31, 2022 2021, three March 31, 2022, not The accounting policies underlying the accompanying unaudited consolidated financial statements are set forth in Note 2 10 December 31, 2021. no three March 31, 2022.
Risks and Uncertainties Policy [Policy Text Block]	Risks and Uncertainties On March 11, 2020, 19 19 19, 19 2022, 19. The global supply chain has experienced significant disruptions due to electronic component and labor shortages and other macroeconomic factors which have emerged since the onset of COVID- 19,

Note 3 - Goodwill and Intangi_2

Note 3 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Goodwill [Table Text Block]	(in thousands) Carrying amount at December 31, 2021 $ 57,689 Effect of change in currency translation (333 ) Carrying amount at March 31, 2022 $ 57,356
Schedule of Intangible Assets and Goodwill [Table Text Block]	March 31, 2022 December 31, 2021 (in thousands) Average Accumulated Accumulated Amortizable intangible assets: Life* Gross Amortization Net Gross Amortization Net Distribution agreements/customer relationships 7.7 $ 17,594 $ (8,938 ) $ 8,656 $ 17,689 $ (8,675 ) $ 9,014 Existing technology 3.9 38,611 (24,786 ) 13,825 38,707 (23,962 ) 14,745 Trade names and patents 4.2 8,467 (5,304 ) 3,163 8,496 (5,108 ) 3,388 Total amortizable intangible assets $ 64,672 $ (39,028 ) $ 25,644 $ 64,892 $ (37,745 ) $ 27,147 Indefinite-lived intangible assets: 234 238 Total intangible assets $ 25,878 $ 27,385
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Amortization Year Ending December 31, Expense (in thousands) 2022 (remainder of year) $ 4,366 2023 5,728 2024 5,427 2025 4,109 2026 2,368 Thereafter 3,646 Total $ 25,644

Note 4 - Balance Sheet Inform_2

Note 4 - Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventories: March 31, December 31, (in thousands) 2022 2021 Finished goods $ 6,798 $ 5,646 Work in process 3,439 3,410 Raw materials 18,474 18,531 Total $ 28,711 $ 27,587
Other Current Liabilities [Table Text Block]	Other Current Liabilities: March 31, December 31, (in thousands) 2022 2021 Compensation $ 2,878 $ 6,048 Professional fees 396 480 Warranty costs 242 240 Customer related costs 2,058 2,265 Settlement of litigation 4,814 - Accrued income taxes 141 224 Other 1,653 1,505 Total $ 12,181 $ 10,762

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 Operating lease cost $ 504 $ 517 Short-term lease cost 64 46 Sublease income (25 ) (25 ) Total lease cost $ 543 $ 538
Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: $ 594 $ 611 Right-of-use assets obtained in exchange for lease obligations: $ 39 $ -
Supplemental Balance Sheet Informaton Related to Operating Leases [Table Text Block]	March 31, December 31, (in thousands) 2022 2021 Operating lease right-of-use assets $ 6,605 $ 6,897 Current portion, operating lease liabilities $ 2,151 $ 2,142 Operating lease liabilities, long-term 6,159 6,488 Total operating lease liabilities $ 8,310 $ 8,630 Weighted average remaining lease term (years) 6.5 6.7 Weighted average discount rate 9.3 % 9.3 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ending December 31, (in thousands) 2022 (remainder of year) $ 1,611 2023 2,133 2024 1,765 2025 1,019 2026 980 Thereafter 3,871 Total lease payments 11,379 Less imputed interest (3,069 ) Total operating lease liabilities $ 8,310

Note 8 - Capital Stock and St_2

Note 8 - Capital Stock and Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule Of Stock Options And Restricted Stock Units Activity Roll forward [Table Text Block]	Weighted Stock Average Time-Based Performance- Options Exercise RSUs Grant Date Based RSUs Grant Date Outstanding Price Outstanding Fair Value Outstanding Fair Value Balance at December 31, 2021 1,404,816 $ 3.10 1,141,164 $ 3.57 860,155 $ 3.13 Granted - - 518,163 5.52 205,122 5.92 Exercised (10,987 ) 2.78 - - - - Vested (RSUs) - - (151,185 ) 2.30 - - Cancelled/Forfeited (3,126 ) 3.79 (12,917 ) 3.07 - - Balance at March 31, 2022 1,390,703 $ 3.10 1,495,225 $ 4.37 1,065,277 $ 3.67
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 Cost of revenues $ 36 $ 20 Sales and marketing expenses 154 93 General and administrative expenses 791 834 Research and development expenses 42 21 Total stock-based compensation expenses $ 1,023 $ 968
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 Basic 41,219 39,787 Dilutive effect of equity awards - - Diluted 41,219 39,787
Black Scholes Option Pricing Model [Member]
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2022 Volatility 65.1 % Risk-free interest rate 1.4 % Correlation coefficient 38.5 % Dividend yield - %

Note 9 - Long-Term Debt (Tables

Note 9 - Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Debt [Table Text Block]	March 31, December 31, (in thousands) 2022 2021 Long-term debt: Term loan $ 37,064 $ 38,000 Revolving line 12,950 11,450 Less unamortized deferred financing costs (1,050 ) (1,120 ) Total debt 48,964 48,330 Current portion of long-term debt (3,000 ) (3,515 ) Current unamortized deferred financing costs 280 280 Long-term debt $ 46,244 $ 45,095

Note 10 - Revenues (Tables)

Note 10 - Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 Instruments, equipment, software and accessories $ 27,538 $ 25,827 Service, maintenance and warranty contracts 1,240 1,162 Total revenues $ 28,778 $ 26,989
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 United States $ 12,239 $ 11,177 Europe 7,823 8,589 Asia 6,733 5,538 Rest of the world 1,983 1,685 Total revenues $ 28,778 $ 26,989
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	March 31, December 31, (in thousands) 2022 2021 Service contracts $ 1,995 $ 1,976 Customer advances 1,961 2,290 Total deferred revenue $ 3,956 $ 4,266
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Three Months Ended March 31, (in thousands) 2022 2021 Balance, beginning of period $ 136 $ 227 Bad debt (credit) expense (6 ) 5 Charge-offs and other 6 22 Balance, end of period $ 136 $ 254

Note 3 - Goodwill and Intangi_3

Note 3 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Amortization of Intangible Assets	$ 1,466	$ 1,464

Note 3 - Goodwill and Intangi_4

Note 3 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Carrying amount at December 31, 2021	$ 57,689
Effect of change in currency translation	(333)
Carrying amount at March 31, 2022	$ 57,356

Note 3 - Goodwill and Intangi_5

Note 3 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Gross		$ 64,672	$ 64,892
Total amortizable intangible assets		(39,028)	(37,745)
Finite-Lived Intangible Assets, Net		25,644	27,147
Indefinite-lived intangible assets:		234	238
Total intangible assets, Net		$ 25,878	27,385
Distribution Agreements/Customer Relationships [Member]
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	[1]	7 years 8 months 12 days
Finite-Lived Intangible Assets, Gross		$ 17,594	17,689
Total amortizable intangible assets		(8,938)	(8,675)
Finite-Lived Intangible Assets, Net		$ 8,656	9,014
Existing Technology [Member]
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	[1]	3 years 10 months 24 days
Finite-Lived Intangible Assets, Gross		$ 38,611	38,707
Total amortizable intangible assets		(24,786)	(23,962)
Finite-Lived Intangible Assets, Net		$ 13,825	14,745
Trade Names and Patents [Member]
Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	[1]	4 years 2 months 12 days
Finite-Lived Intangible Assets, Gross		$ 8,467	8,496
Total amortizable intangible assets		(5,304)	(5,108)
Finite-Lived Intangible Assets, Net		$ 3,163	$ 3,388
[1]	Weighted average life in years as of December 31, 2021

Note 3 - Goodwill and Intangi_6

Note 3 - Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
2022 (remainder of year)	$ 4,366
2023	5,728
2024	5,427
2025	4,109
2026	2,368
Thereafter	3,646
Total	$ 25,644	$ 27,147

Note 4 - Balance Sheet Inform_3

Note 4 - Balance Sheet Information - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finished goods	$ 6,798	$ 5,646
Work in process	3,439	3,410
Raw materials	18,474	18,531
Total	$ 28,711	$ 27,587

Note 4 - Balance Sheet Inform_4

Note 4 - Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Compensation	$ 2,878	$ 6,048
Professional fees	396	480
Warranty costs	242	240
Customer related costs	2,058	2,265
Estimated Litigation Liability, Current	4,814	0
Accrued income taxes	141	224
Other	1,653	1,505
Total	$ 12,181	$ 10,762

Note 5 - Restructuring and Ot_2

Note 5 - Restructuring and Other Exit Costs (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Selling, General and Administrative Expenses [Member]
Restructuring Charges, Total	$ 0.6

Note 6 - Related Party Transa_2

Note 6 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
The Multi Channel Systems Facility and Triangle BioSystems Lease Agreements [Member]
Operating Lease, Expense	$ 0.1	$ 0.1

Note 7 - Leases - Lease Expense

Note 7 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating lease cost	$ 504	$ 517
Short-term lease cost	64	46
Sublease income	(25)	(25)
Total lease cost	$ 543	$ 538

Note 7- Leases - Supplemental C

Note 7- Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:	$ 594	$ 611
Right-of-use assets obtained in exchange for lease obligations:	$ 39	$ 0

Note 7 - Leases - Supplemental

Note 7 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Operating lease right-of-use assets	$ 6,605	$ 6,897
Current portion, operating lease liabilities	2,151	2,142
Operating lease liabilities, long-term	6,159	6,488
Total operating lease liabilities	$ 8,310	$ 8,630
Weighted average remaining lease term (years) (Year)	6 years 6 months	6 years 8 months 12 days
Weighted average discount rate	9.30%	9.30%

Note 7 - Leases - Future Minimu

Note 7 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
2022 (remainder of year)	$ 1,611
2023	2,133
2024	1,765
2025	1,019
2026	980
Thereafter	3,871
Total lease payments	11,379
Less imputed interest	(3,069)
Total operating lease liabilities	$ 8,310	$ 8,630

Note 8 - Capital Stock and St_3

Note 8 - Capital Stock and Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 8.2
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 2 months 12 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 5.92
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	3.5	4.5

Note 8 - Capital Stock and St_4

Note 8 - Capital Stock and Stock-based Compensation - Stock Option and Restricted Stock Unit Activity (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Opening Balance, Stock Options Outstanding (in shares) | shares	1,404,816
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 3.10
Options, Granted in Period (in shares) | shares	0
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0
Options, exercised (in shares) | shares	(10,987)
Options, exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 2.78
Options, Cancelled / Forfeited in Period (in shares) | shares	(3,126)
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 3.79
Opening Balance, Stock Options Outstanding (in shares) | shares	1,390,703
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 3.10
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units Outstanding , Balance (in shares) | shares	1,141,164
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.57
Restricted Stock Units, Granted in Period (in shares) | shares	518,163
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 5.52
Restricted Stock Units, Vested in Period (in shares) | shares	(151,185)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 2.30
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) | shares	(12,917)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.07
Restricted Stock Units Outstanding , Balance (in shares) | shares	1,495,225
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 4.37
Market Condition Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares) | shares	860,155
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.13
Restricted Stock Units, Granted in Period (in shares) | shares	205,122
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 5.92
Restricted Stock Units, Vested in Period (in shares) | shares	0
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 0
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) | shares	0
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 0
Restricted Stock Units Outstanding , Balance (in shares) | shares	1,065,277
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.67

Note 8 - Capital Stock and St_5

Note 8 - Capital Stock and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based compensation	$ 1,023	$ 968
Continuing Operations [Member] | Cost of Sales [Member]
Share-based compensation	36	20
Continuing Operations [Member] | Selling and Marketing Expense [Member]
Share-based compensation	154	93
Continuing Operations [Member] | General and Administrative Expense [Member]
Share-based compensation	791	834
Continuing Operations [Member] | Research and Development Expense [Member]
Share-based compensation	$ 42	$ 21

Note 8 - Capital Stock and St_6

Note 8 - Capital Stock and Stock-based Compensation - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member] - Share-Based Payment Arrangement, Option [Member]	3 Months Ended
	Mar. 31, 2022
Volatility	65.10%
Risk-free interest rate	1.40%
Correlation coefficient	38.50%
Dividend yield	0.00%

Note 8 - Capital Stock and St_7

Note 8 - Capital Stock and Stock-based Compensation - Weighted Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Basic and diluted (in shares)	41,219	39,787
Dilutive effect of equity awards (in shares)	0	0
Diluted (in shares)	41,219	39,787

Note 9 - Long-Term Debt (Detail

Note 9 - Long-Term Debt (Details Textual) - USD ($) $ in Thousands	Apr. 28, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 22, 2020
Debt Issuance Costs, Net, Total		$ 1,050		$ 1,120
The Credit Agreement [Member]
Debt Issuance Costs, Net, Total					$ 1,400
Debt, Weighted Average Interest Rate		3.40%
Line of Credit Facility, Interest Rate During Period		3.10%	3.30%
Debt Instrument, Quarterly Payment, Current Year			$ 500
Debt Instrument Quarterly Payment Next Eight Years			750
Debt Instrument, Quarterly Payment, Thereafter			$ 1,000
Percentage of Consolidated Excess Cash Flow			50.00%
Debt Instrument, Current Maturities, Excess Cash Flow Sweep		$ 200
The Credit Agreement [Member] | Subsequent Event [Member]
Payments of Debt Restructuring Costs	$ 200
The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Interest Rate, State Floor Percentage		0.50%
The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.25%
The Credit Agreement [Member] | Base Rate [Member]
Debt Instrument, Interest Rate, State Floor Percentage		1.00%
The Credit Agreement [Member] | The ABR Loan [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.50%
The Credit Agreement [Member] | The ABR Loan [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		3.00%
The Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity		$ 6,800
Term Loan [Member]
Long-term Debt, Gross		$ 37,064		$ 38,000
The LIBOR Loan and Pricing Grid Credit Agreement [Member] | The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
The Lenders [Member] | The Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					25,000
The Lenders [Member] | The Credit Agreement [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity					10,000
The Lenders [Member] | The Credit Agreement [Member] | Swingline Loan Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					10,000
The Lenders [Member] | Term Loan [Member] | The Credit Agreement [Member]
Long-term Debt, Gross					$ 40,000

Note 9 - Long-term Debt - Break

Note 9 - Long-term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Less unamortized deferred financing costs	$ (1,050)	$ (1,120)
Total debt	48,964	48,330
Current portion of long-term debt	(3,000)	(3,515)
Current unamortized deferred financing costs	280	280
Long-term debt	46,244	45,095
Term Loan [Member]
Long-term debt, gross	37,064	38,000
Line of Credit [Member]
Long-term debt, gross	$ 12,950	$ 11,450

Note 10 - Revenues (Details Tex

Note 10 - Revenues (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Contract with Customer, Liability, Revenue Recognized	$ 0.7	$ 1.2

Note 10 - Revenues - Disaggrega

Note 10 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues	$ 28,778	$ 26,989
Instruments, Equipment, Software, and Accessories [Member]
Revenues	27,538	25,827
Service, Maintenance, and Warranty Contracts [Member]
Revenues	$ 1,240	$ 1,162

Note 10 - Segment and Related I

Note 10 - Segment and Related Information - Revenue by Geographic Destination (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Total revenues	$ 28,778	$ 26,989
UNITED STATES
Total revenues	12,239	11,177
Europe [Member]
Total revenues	7,823	8,589
CHINA
Total revenues	6,733	5,538
Rest of the World [Member]
Total revenues	$ 1,983	$ 1,685

Note 10 - Revenues - Deferred R

Note 10 - Revenues - Deferred Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred revenue	$ 3,956	$ 4,266
Service [Member]
Deferred revenue	1,995	1,976
Customer Advances [Member]
Deferred revenue	$ 1,961	$ 2,290

Note 10 - Revenues - Allowance

Note 10 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Balance, beginning of period	$ 136	$ 227
Bad debt (credit) expense	(6)	5
Charge-offs and other	6	22
Balance, end of period	$ 136	$ 254

Note 11 - Income Tax (Details T

Note 11 - Income Tax (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Expense (Benefit), Total	$ (138)	$ (15)
Effective Income Tax Rate Reconciliation, Percent, Total	2.00%	2.20%
Maximum [Member]
Income Tax Expense (Benefit), Total		$ (100)

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual) - USD ($) $ in Millions	Apr. 28, 2022	Apr. 27, 2022	Mar. 31, 2022
Subsequent Event [Member] | The Credit Agreement [Member]
Payments of Debt Restructuring Costs	$ 0.2
Case in Suffolk Superior Court [Member]
Loss Contingency, Estimate of Possible Loss			$ 5.2
Case in Suffolk Superior Court [Member] | Subsequent Event [Member] | Convertible Preferred Stock [Member]
Stock Issued During Period, Value, Issued for Settlement		$ 4