Harvard Bioscience (HBIO) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-33957
Entity Registrant Name	HARVARD BIOSCIENCE, INC.
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	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		43,610,883
Entity Central Index Key	0001123494
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,048	$ 4,283
Accounts receivable, net	12,486	16,099
Inventories	25,130	24,716
Other current assets	4,766	3,940
Total current assets	46,430	49,038
Property, plant and equipment, net	4,758	3,981
Operating lease right-of-use assets	4,420	4,773
Goodwill	56,627	57,065
Intangible assets, net	13,441	16,036
Other long-term assets	3,236	6,473
Total assets	128,912	137,366
Current liabilities:
Current portion of long-term debt	3,720	5,859
Accounts payable	5,711	5,554
Contract liabilities	4,010	4,508
Other current liabilities	9,180	10,621
Total current liabilities	22,621	26,542
Long-term debt, net	31,960	30,704
Deferred tax liability	764	776
Operating lease liabilities	4,713	4,794
Other long-term liabilities	1,607	1,476
Total liabilities	61,665	64,292
Commitments and Contingencies
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: 43,610,883 shares issued and outstanding at June 30, 2024; 43,394,509 shares issued and outstanding at December 31, 2023	436	434
Additional paid-in-capital	234,905	232,435
Accumulated deficit	(153,226)	(145,605)
Accumulated other comprehensive loss	(14,868)	(14,190)
Total stockholders' equity	67,247	73,074
Total liabilities and stockholders' equity	$ 128,912	$ 137,366

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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 Per Share (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)	43,610,883	43,394,509
Common Stock, shares outstanding (in shares)	43,610,883	43,394,509

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 23,097	$ 28,759	$ 47,609	$ 58,734
Cost of revenues	9,879	12,086	19,619	23,715
Gross profit	13,218	16,673	27,990	35,019
Sales and marketing expenses	5,395	6,178	11,299	12,156
General and administrative expenses	5,686	5,353	11,649	11,687
Research and development expenses	2,626	2,957	5,511	5,854
Amortization of intangible assets	1,331	1,389	2,664	2,777
Other operating expenses	249	0	1,215	0
Total operating expenses	15,287	15,877	32,338	32,474
Operating (loss) income	(2,069)	796	(4,348)	2,545
Other income (expense):
Interest expense	(749)	(941)	(1,500)	(1,915)
Loss on equity securities - Note 6	(281)	(1,581)	(1,593)	(1,581)
Other (expense) income, net	(181)	(372)	(323)	60
Total other expense	(1,211)	(2,894)	(3,416)	(3,436)
Loss before income taxes	(3,280)	(2,098)	(7,764)	(891)
Income tax benefit	(353)	(1,118)	(143)	(533)
Net loss	$ (2,927)	$ (980)	$ (7,621)	$ (358)
Loss per share:
Basic and diluted (in dollars per share)	$ (0.07)	$ (0.02)	$ (0.18)	$ (0.01)
Weighted-average common shares:
Basic and diluted (in shares)	43,486	42,354	43,443	42,204

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net loss	$ (2,927)	$ (980)	$ (7,621)	$ (358)
Other comprehensive income (loss):
Foreign currency translation adjustments	(128)	152	(911)	989
Derivative instruments qualifying as cash flow hedges, net of tax	34	449	233	9
Other comprehensive (loss) income	(94)	601	(678)	998
Comprehensive (loss) income	$ (3,021)	$ (379)	$ (8,299)	$ 640

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]	Total
Balance (in shares) at Dec. 31, 2022	42,082,000
Balance at Dec. 31, 2022	$ 454	$ 229,008	$ (142,190)	$ (15,052)	$ 72,220
Stock option exercises (in shares)	212,000
Stock option exercises	$ 3	506	0	0	509
Stock purchase plan (in shares)	91,000
Stock purchase plan	$ 0	215	0	0	215
Vesting of restricted stock units (in shares)	412,000
Vesting of restricted stock units	$ 0	0	0	0	0
Shares withheld for taxes (in shares)	(110,000)
Shares withheld for taxes	$ 0	(451)	0	0	(451)
Stock-based compensation expense	0	2,255	0	0	2,255
Net loss	0	0	(358)	0	(358)
Other comprehensive income (loss)	$ 0	0	0	998	998
Balance (in shares) at Jun. 30, 2023	42,687,000
Balance at Jun. 30, 2023	$ 457	231,533	(142,548)	(14,054)	75,388
Balance (in shares) at Mar. 31, 2023	42,190,000
Balance at Mar. 31, 2023	$ 455	230,108	(141,568)	(14,655)	74,340
Stock option exercises (in shares)	173,000
Stock option exercises	$ 2	403	0	0	405
Stock purchase plan (in shares)	91,000
Stock purchase plan	$ 0	215	0	0	215
Vesting of restricted stock units (in shares)	287,000
Vesting of restricted stock units	$ 0	0	0	0	0
Shares withheld for taxes (in shares)	(54,000)
Shares withheld for taxes	$ 0	(295)	0	0	(295)
Stock-based compensation expense	0	1,102	0	0	1,102
Net loss	0	0	(980)	0	(980)
Other comprehensive income (loss)	$ 0	0	0	601	601
Balance (in shares) at Jun. 30, 2023	42,687,000
Balance at Jun. 30, 2023	$ 457	231,533	(142,548)	(14,054)	75,388
Balance (in shares) at Dec. 31, 2023	43,395,000
Balance at Dec. 31, 2023	$ 434	232,435	(145,605)	(14,190)	$ 73,074
Stock option exercises (in shares)	8,000				7,848
Stock option exercises	$ 0	28	0	0	$ 28
Stock purchase plan (in shares)	72,000
Stock purchase plan	$ 1	175	0	0	176
Vesting of restricted stock units (in shares)	150,000
Vesting of restricted stock units	$ 1	0	0	0	1
Shares withheld for taxes (in shares)	(14,000)
Shares withheld for taxes	$ 0	(59)	0	0	(59)
Stock-based compensation expense	0	2,326	0	0	2,326
Net loss	0	0	(7,621)	0	(7,621)
Other comprehensive income (loss)	$ 0	0	0	(678)	(678)
Balance (in shares) at Jun. 30, 2024	43,611,000
Balance at Jun. 30, 2024	$ 436	234,905	(153,226)	(14,868)	67,247
Balance (in shares) at Mar. 31, 2024	43,421,000
Balance at Mar. 31, 2024	$ 434	233,451	(150,299)	(14,774)	68,812
Stock option exercises (in shares)	4,000
Stock option exercises	$ 0	13	0	0	13
Stock purchase plan (in shares)	72,000
Stock purchase plan	$ 1	175	0	0	176
Vesting of restricted stock units (in shares)	116,000
Vesting of restricted stock units	$ 1	0	0	0	1
Shares withheld for taxes (in shares)	(2,000)
Shares withheld for taxes	$ 0	(12)	0	0	(12)
Stock-based compensation expense	0	1,278	0	0	1,278
Net loss	0	0	(2,927)	0	(2,927)
Other comprehensive income (loss)	$ 0	0	0	(94)	(94)
Balance (in shares) at Jun. 30, 2024	43,611,000
Balance at Jun. 30, 2024	$ 436	$ 234,905	$ (153,226)	$ (14,868)	$ 67,247

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (7,621)	$ (358)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	831	665
Amortization of intangible assets	2,751	2,777
Amortization of deferred financing costs	140	140
Stock-based compensation expense	2,326	2,255
Deferred income taxes and other	407	86
Loss on equity securities - Note 6	1,593	1,581
Gain on sale of product line - Note 14	0	(403)
Changes in operating assets and liabilities:
Accounts receivable	3,458	(68)
Inventories	(1,748)	398
Other assets	(813)	(1,268)
Accounts payable and other current liabilities	170	(270)
Contract liabilities	(498)	445
Other liabilities	(439)	(616)
Net cash provided by operating activities	557	5,364
Cash flows from investing activities:
Additions to property, plant and equipment	(1,463)	(741)
Capitalized software development costs	(223)	(108)
Proceeds from sale of product line	0	512
Proceeds from sale of marketable equity securities	1,919	0
Net cash (used in) provided by investing activities	233	(337)
Cash flows from financing activities:
Borrowing from revolving line of credit	5,550	2,500
Repayment of revolving line of credit	(2,550)	(5,450)
Repayment of term debt	(4,023)	(2,591)
Proceeds from exercise of stock options and employee stock purchase plan	204	724
Taxes paid related to net share settlement of equity awards	(59)	(451)
Net cash used in financing activities	(878)	(5,268)
Effect of exchange rate changes on cash	(147)	57
Decrease in cash and cash equivalents	(235)	(184)
Cash and cash equivalents at beginning of period	4,283	4,508
Cash and cash equivalents at end of period	4,048	4,324
Supplemental disclosures of cash flow information:
Cash paid for interest	1,515	2,148
Cash paid for income taxes, net of refunds	$ 131	$ 115

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) as of June 30, 2024 and for the three and six months ended June 30, 2024 and 2023 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The December 31, 2023 consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of June 30, 2024, results of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, and cash flows for the six months ended June 30, 2024 and 2023, as applicable, have been made. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the operating results for the full fiscal year or any future periods. The accounting policies underlying the accompanying unaudited consolidated financial statements are set forth in Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. There have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2024. Use of Estimates The preparation of financial statements in conformity with generally U.S. GAAP requires the use of management estimates. Such estimates include the determination and establishment of certain accruals and provisions, including those for income taxes, credit losses on receivables, and defined benefit pension obligations. Estimates are also required to evaluate the value for inventories reported at lower of cost or net realizable value, stock-based compensation expense, and the recoverability of long-lived and intangible assets, including goodwill. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates. Other Operating Expenses The components of other operating expenses for the three and six months ended June 30, 2024 were as follows: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2024 Restructuring expenses (see Note 15) $ 396 $ 396 Unclaimed property audits (credit) expense (see Note 13) (147 ) 347 Employee retention credit fees (see Note 5) - 472 Total other operating expenses $ 249 $ 1,215 Recently Issued Accounting Pronouncements Yet to Be Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax

Note 2 - Earnings (Loss) per Sh

Note 2 - Earnings (Loss) per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	2. 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 and restricted stock units into common stock using the treasury method, unless the effect is antidilutive. The following table summarizes the calculation of basic and diluted net loss per share of common stock: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2024 2023 2024 2023 Net loss $ (2,927 ) $ (980 ) $ (7,621 ) $ (358 ) Weighted average shares outstanding - basic 43,486 42,354 43,443 42,204 Dilutive effect of equity awards - - - - Weighted average shares outstanding - diluted 43,486 42,354 43,443 42,204 Basic loss per share $ (0.07 ) $ (0.02 ) $ (0.18 ) $ (0.01 ) Diluted loss per share $ (0.07 ) $ (0.02 ) $ (0.18 ) $ (0.01 ) Shares excluded from diluted loss per share due to their anti-dilutive effect 3,993 4,286 3,600 3,795

Note 3 - Revenues

Note 3 - Revenues	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Revenues The following tables represent a disaggregation of revenue from contracts with customers for the three and six months ended June 30, 2024 and 2023: Revenues by type were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Instruments, equipment, software and accessories $ 21,292 $ 27,268 $ 44,051 $ 55,761 Service, maintenance and warranty contracts 1,805 1,491 3,558 2,973 Total revenues $ 23,097 $ 28,759 $ 47,609 $ 58,734 Revenues by timing of recognition were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Goods and services transferred at a point in time $ 21,983 $ 27,636 $ 45,726 $ 56,942 Goods and services transferred over time 1,114 1,123 1,883 1,792 Total revenues $ 23,097 $ 28,759 $ 47,609 $ 58,734 Revenue by geographic destination were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 United States $ 10,805 $ 12,336 $ 21,788 $ 24,638 Europe 6,535 9,332 13,113 16,773 Greater China 3,249 4,136 7,631 10,335 Rest of the world 2,508 2,955 5,077 6,988 Total revenues $ 23,097 $ 28,759 $ 47,609 $ 58,734 Contract Liabilities The following table provides details of contract liabilities as of the periods indicated: (dollars in thousands) June 30, 2024 December 31, 2023 Change Percentage Service, maintenance and warranty contracts $ 2,534 $ 2,849 $ (315 ) -11.1 % Customer advances 1,476 1,659 (183 ) -11.0 % Total contract liabilities $ 4,010 $ 4,508 $ (498 ) -11.0 % Changes in the Company’s contract liabilities are primarily due to the timing of receipt of payments under service, maintenance and warranty contracts and lower sales volumes. During the three months ended June 30, 2024 and 2023, the Company recognized revenue of $1.0 million and $0.6 million from contract liabilities existing at December 31, 2023 and 2022, respectively. During the six months ended June 30, 2024 and 2023, the Company recognized revenue of $2.6 million and $1.6 million from contract liabilities existing at December 31, 2023 and 2022, respectively. Provision for Expected Credit Losses on Receivables Activity in the provision for expected losses on receivables was as follows: Six Months Ended June 30, (in thousands) 2024 2023 Balance, beginning of period $ 160 $ 191 Provision for expected credit losses 46 18 Charge-offs and other (29 ) (55 ) Balance, end of period $ 177 $ 154 Concentrations No customer accounted for more than 10% of revenues for the three and six months ended June 30, 2024 and 2023. At June 30, 2024 and December 31, 2023, no customer accounted for more than 10% of net accounts receivable. Warranties Activity in the product warranties accrual was as follows: Six Months Ended June 30, (in thousands) 2024 2023 Balance, beginning of period $ 336 $ 268 Provision for warranties 231 147 Warranty claims (196 ) (114 ) Balance, end of period $ 371 $ 301

Note 4 - Goodwill and Intangibl

Note 4 - Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. Goodwill and Intangible Assets The change in the carrying amount of goodwill for the six months ended June 30, 2024 was as follows: (in thousands) Carrying amount at December 31, 2023 $ 57,065 Effect of change in currency translation (438 ) Carrying amount at June 30, 2024 $ 56,627 Intangible assets at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 (in thousands) Accumulated Accumulated Amortizable intangible assets: Gross Amortization Net Gross Amortization Net Customer relationships $ 15,785 $ (10,051 ) $ 5,734 $ 16,038 $ (9,706 ) $ 6,332 Technology and software development 35,102 (28,810 ) 6,292 35,007 (27,029 ) 7,978 Trade names and patents 7,519 (6,304 ) 1,215 7,613 (6,094 ) 1,519 Total amortizable intangible assets $ 58,406 $ (45,165 ) $ 13,241 $ 58,658 $ (42,829 ) $ 15,829 Indefinite-lived intangible assets: 200 207 Total intangible assets $ 13,441 $ 16,036 Intangible asset amortization expense for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of revenues $ 43 $ - $ 87 $ - Operating expense 1,331 1,389 2,664 2,777 Total amortization of intangible assets $ 1,374 $ 1,389 $ 2,751 $ 2,777 As of June 30, 2024, estimated future amortization expense of amortizable intangible assets is as follows: (in thousands) 2024 (remainder of the year) $ 2,674 2025 4,195 2026 2,534 2027 1,263 2028 1,239 Thereafter 1,336 Total $ 13,241

Note 5 - Balance Sheet Informat

Note 5 - Balance Sheet Information	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	5. Balance Sheet Information The following tables provide details of selected balance sheet items as of the periods indicated: Inventories: (in thousands) June 30, 2024 December 31, 2023 Finished goods $ 5,491 $ 5,120 Work in process 3,296 4,188 Raw materials 16,343 15,408 Total $ 25,130 $ 24,716 Other Current Liabilities: (in thousands) June 30, 2024 December 31, 2023 Compensation $ 2,384 $ 3,929 Customer credits 1,105 3,201 Current portion of operating lease liabilities 1,058 1,416 Employee retention credit funds 3,154 - Professional fees 372 499 Warranty costs 371 336 Other 736 1,240 Total $ 9,180 $ 10,621 The Coronavirus Aid, Relief, and Economic Security Act of 2020 (“CARES Act”) provided an employee retention credit (“ERC”) that was a refundable tax credit against certain employer taxes. The Company elected to account for the credit as a government grant. As there is no authoritative guidance under U.S. GAAP on accounting for grants to for-profit business entities from government entities, the Company accounts for government assistance by analogy to International Accounting Standards Topic 20, Accounting for Government Grants and Disclosure of Government Assistance The Company received ERC refunds of $3.2 million during the six months ended June 30, 2024. Due to the subjectivity of the credit, the Company has included the refunds received in other current liabilities in the consolidated balance sheet as of June 30, 2024, subject to a determination that the refunds are recognizable. The Company engaged a professional services firm under a commission fee arrangement to assist with determining the Company’s eligibility to claim the ERC refunds and accumulating the necessary support that was used as a basis in the filing. During the six months ended June 30, 2024, the Company paid fees of $0.5 million for these services, which are included in other operating expenses in the consolidated statement of operations.

Note 6 - Marketable Equity Secu

Note 6 - Marketable Equity Securities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	6. Marketable Equity Securities In April 2023, the Company received shares of common stock of Harvard Apparatus Regenerative Technology, Inc. (“HRGN”, formerly known as Biostage, Inc.) in connection with settlement of indemnification obligations related to litigation which was resolved during the year ended December 31, 2022. These shares had an estimated fair value $3.5 million and are included in the consolidated balance sheet as a component of other long-term assets as of December 31, 2023. During the six months ended June 30, 2024, the Company sold all of its remaining HRGN shares. The Company received cash proceeds of $1.4 million and $1.9 million from HRGN shares sold during the three and six months ended June 30, 2024, respectively. The Company recorded losses on equity securities of $0.3 million and $1.6 million during the three and six months ended June 30, 2024, respectively.

Note 7 - Leases

Note 7 - Leases	6 Months Ended
	Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023, were as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Operating lease cost $ 508 $ 483 $ 1,019 $ 1,026 Short-term lease cost 52 64 102 131 Sublease income (26 ) (26 ) (51 ) (51 ) Total lease cost $ 534 $ 521 $ 1,070 $ 1,106 Supplemental cash flow information related to the Company's operating leases is as follows: Six Months Ended June 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities $ 1,162 $ 1,201 Right-of-use assets obtained in exchange for lease obligations 443 95 Supplemental balance sheet information related to the Company’s operating leases is as follows: (in thousands) June 30, 2024 December 31, 2023 Operating lease right-of-use assets $ 4,420 $ 4,773 Current portion, operating lease liabilities $ 1,058 $ 1,416 Operating lease liabilities, long-term 4,713 4,794 Total operating lease liabilities $ 5,771 $ 6,210 Weighted average remaining lease term (years) 6 Weighted average discount rate 9.4 % Future minimum lease payments for operating leases, with initial terms in excess of one year at June 30, 2024, are as follows: (in thousands) 2024 (remainder of the year) $ 879 2025 1,278 2026 1,175 2027 1,138 2028 1,116 Thereafter 1,956 Total lease payments 7,542 Less imputed interest (1,771 ) Total operating lease liabilities $ 5,771

Note 8 - Long-term Debt

Note 8 - Long-term Debt	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Long-Term Debt [Text Block]	8. Long-Term Debt As of June 30, 2024 and December 31, 2023, the Company’s borrowings were as follows: (in thousands) June 30, 2024 December 31, 2023 Long-term debt: Term loan $ 26,700 $ 30,723 Revolving line 9,400 6,400 Less: unamortized deferred financing costs (420 ) (560 ) Total debt 35,680 36,563 Less: current portion of long-term debt (4,000 ) (6,139 ) Current unamortized deferred financing costs 280 280 Long-term debt $ 31,960 $ 30,704 The Company maintains a Credit Agreement (as amended, the “Credit Agreement”) with Citizens Bank, N.A., Wells Fargo Bank, National Association, and First Citizens Bank & Trust Company (together, the “Lenders”). The Credit Agreement provides for a term loan of $40.0 million and a $25.0 million senior revolving credit facility (including a $10.0 million sub-facility for the issuance of letters of credit and a $10.0 million swingline loan sub facility) (collectively, the “Credit Facility”). The Company’s obligations under the Credit Agreement are guaranteed by certain of the Company’s direct, domestic wholly-owned subsidiaries; none of the Company’s direct or indirect foreign subsidiaries has guaranteed the Credit Facility. The Company’s obligations under the Credit Agreement are secured by substantially all of the assets of Harvard Bioscience, Inc., and each guarantor (including all or a portion of the equity interests in certain of the Company’s domestic and foreign subsidiaries). Issuance costs of $1.4 million are amortized over the contractual term to maturity date on a straight-line basis, which approximates the effective interest method. Available and unused borrowing capacity under the revolving line of credit was $5.4 million as of June 30, 2024, based on the Credit Agreement, as amended on August 6, 2024 (the “August 2024 Amendment”), as described below. Total revolver borrowing capacity is limited by the consolidated net leverage ratio as defined under the amended Credit Agreement. Borrowings under the Credit Facility will, at the option of the Company, bear interest at either (i) a rate per annum based on the Secured Overnight Financing Rate (“SOFR”) for an interest period of one, two, three or six months, plus an applicable interest rate margin determined as provided in the Credit Agreement (a “SOFR Loan”), or (ii) an alternative base rate plus an applicable interest rate margin, each as determined as provided in the Credit Agreement (an “ABR Loan”). SOFR interest under the Credit Agreement is subject to applicable market rates and a floor of 0.50%. The alternative base rate is based on the Citizens Bank prime rate or the federal funds effective rate of the Federal Reserve Bank of New York and is subject to a floor of 1.0%. Pursuant to the August 2024 Amendment, the applicable interest rate margin varies from 2.0% per annum to 3.75% per annum for SOFR Loans, and from 1.5% per annum to 3.5% per annum for ABR Loans, in each case depending on the Company’s consolidated net leverage ratio, and is determined in accordance with a pricing grid set forth in the Credit Agreement. There are no prepayment penalties in the event the Company elects to prepay and terminate the Credit Facility prior to its scheduled maturity date, subject to SOFR Loan breakage and redeployment costs in certain circumstances. The effective interest rate on the Company borrowings for the three months ended June 30, 2024 and 2023, was 7.9% and 8.3%, respectively, and for the six months ended June 30, 2024 and 2023, was 7.8% and 8.1%, respectively. The weighted average interest rate as of June 30, 2024, net of the effect of the Company’s interest rate swaps, was 7.7%. The carrying value of the debt approximates fair value because the interest rate under the obligation approximates market rates of interest available to the Company for similar instruments. As of June 30, 2024, the term loan requires quarterly installment payments of $1.0 million with a balloon payment at maturity on December 22, 2025. Furthermore, within ninety days after the end of the Company’s fiscal year, the term loan may be permanently reduced pursuant to certain mandatory prepayment events including an annual “excess cash flow sweep”, as defined in the Credit Agreement, provided that, in any fiscal year, any voluntary prepayments of the term loan shall be credited against the Company’s “excess cash flow” prepayment obligations on a dollar-for-dollar basis for such fiscal year. As of December 31, 2023, the current portion of long-term debt included amounts due under the excess cash flow sweep of $2.0 million which was paid on March 29, 2024. Amounts outstanding under the revolving credit facility can be repaid at any time but are due in full at maturity. 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. In March 2024, the Company entered into an amendment to the Credit Agreement pursuant to which the Lenders and administrative agent modified the definition of Consolidated EBITDA used in the calculation of certain financial covenants to adjust for charges related to an abandoned property audit (see Note 13) and commission fees expected to be paid in connection with the ERC filings (see Note 5). On August 6, 2024, the Company entered into an amendment to the Credit Agreement that, among other things, modifies the financial covenants relating to the consolidated net leverage ratio and consolidated fixed charge coverage ratio through the period ended December 31, 2024. The amendment also adds a net leverage ratio requirement with respect to additional borrowing under the Company’s revolving credit facility and restrictions on certain additional indebtedness and investments, in each case until the Company delivers to the Lenders the Company’s financial statements for the fiscal year ending December 31, 2024. In addition, until delivery of the financial statements, the applicable interest rate margin will be increased by 50bps during such time as the Company’s consolidated net leverage ratio is greater than 3.0. The Company paid fees of $0.2 million to the Lenders in connection with the amendment. As a result of the August 2024 Amendment, the Company is in compliance with the financial covenants of the Credit Agreement.

Note 9 - Derivatives

Note 9 - Derivatives	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Derivatives and Fair Value [Text Block]	9. Derivatives In February 2023, the Company entered into an interest rate swap contract to improve the predictability of cash flows from interest payments related to its variable, SOFR-based debt. The swap contract had a notional amount of $24.5 million as of June 30, 2024 and matures on December 22, 2025. This swap contract effectively converts the SOFR-based variable portion of the interest payable under the Credit Agreement into fixed-rate debt at an annual rate of 4.75%. The swap contract does not impact the additional interest related to the applicable interest rate margin as discussed above in Note 8, Long-Term Debt. The swap contract is considered an effective cash flow hedge, and as a result, net gains or losses are reported as a component of other comprehensive income (“OCI”) in the consolidated financial statements and are reclassified when the underlying hedged interest impacts earnings. An assessment is performed quarterly to evaluate the ongoing hedge effectiveness. The following table presents the notional amount and fair value of the Company’s derivative instruments as of June 30, 2024 and December 31, 2023: (in thousands) June 30, 2024 December 31, 2023 Derivatives Instruments Balance Sheet Classification Notional Amount Fair Value (a) Notional Amount Fair Value (a) Interest rate swap Other long-term assets (liabilities) $ 24,482 $ 34 $ 27,375 $ (199 ) (a) See Note 10 for the fair value measurements related to these financial instruments. The effect of the cash flow hedge on other comprehensive income (loss) and earnings for the periods presented was as follows: Three Months Ended Six Months Ended Derivatives Qualifying as Hedges, net of tax June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Gain recognized in OCI on derivatives (effective portion) $ 34 $ 449 $ 233 $ 9 Gain reclassified from accumulated OCI to interest expense 44 26 91 26

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	10. Fair Value Measurements The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis: Fair Value as of June 30, 2024 Assets (Liabilities) Level 1 Level 2 Level 3 Total Interest rate swap agreement $ - $ 34 $ - $ - Fair Value as of December 31, 2023 Level 1 Level 2 Level 3 Total Equity securities - common stock $ 3,511 $ - $ - $ 3,511 Interest rate swap agreement $ - $ (199 ) $ - $ (199 ) The Company uses the market approach technique to value its financial liabilities. The Company’s financial assets and liabilities carried at fair value include, when applicable, investments in common stock and derivative instruments used to hedge the Company’s interest rate risks. The fair value of the Company’s investment in HRGN common stock (see Note 6) was based on the closing price per the OTCQB Marketplace at the reporting date. The fair value of the Company’s interest rate swap agreement was based on SOFR yield curves at the reporting date.

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Shareholders' Equity and Share-Based Payments [Text Block]	11. Stock-Based Compensation Stock-based compensation expense for the three and six months ended June 30, 2024 and 2023 was allocated as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of revenues $ 66 $ 95 $ 118 $ 164 Sales and marketing expenses 159 195 289 340 General and administrative expenses 927 704 1,698 1,573 Research and development expenses 126 108 221 178 Total stock-based compensation expense $ 1,278 $ 1,102 $ 2,326 $ 2,255 As of June 30, 2024, the total compensation costs related to unvested awards not yet recognized was $7.8 million and the weighted average period over which it is expected to be recognized is approximately 2.0 years. The Company did not capitalize any stock-based compensation. Restricted stock unit (“RSU”) activity for the six months ended June 30, 2024 was as follows: Market- Performance- Time-Based Based Based Restricted Grant Date Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Stock Units Fair Value Balance at December 31, 2023 1,164,996 $ 3.28 801,845 $ 3.37 - $ - Granted 981,540 4.00 - - 375,895 4.19 Vested (150,383 ) 4.95 - - - - Forfeited (41,383 ) 3.61 - - - - Balance at June 30, 2024 1,954,770 $ 3.51 801,845 $ 3.37 375,895 $ 4.19 Unvested shares related to market-based and performance-based vesting conditions are reflected at 100% of their target vesting amount in the table above. Actual vesting could range from zero Performance-based RSU awards are contingent on the achievement of certain performance metrics. Compensation cost associated with performance-based RSUs are recognized based on the estimated number of shares that the Company ultimately expects will be earned. If the estimated number of shares to be earned is revised in the future, then stock-based compensation expense will be adjusted accordingly. Stock option activity for the six months ended June 30, 2024 was as follows: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) Outstanding and exercisable at December 31, 2023 924,067 $ 3.37 Exercised (7,848 ) 3.58 Cancelled/Forfeited (19,266 ) 4.46 Outstanding and exercisable at June 30, 2024 896,953 $ 3.35 3.00 $ 91 The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $2.85 as of the last trading day of the reporting period, which would have been received by the option holders had all option holders exercised their options as of that date. The aggregate intrinsic value of options exercised during the six months ended June 30, 2024, was not

Note 12 - Income Tax

Note 12 - Income Tax	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Tax The determination of the annual effective tax rate is based upon a number of significant estimates and judgments, including the estimated annual pretax income in each tax jurisdiction in which the Company operates and the development of tax planning strategies during the year. In addition, as a global commercial enterprise, the Company’s tax expense can be impacted by changes in tax rates or laws, the finalization of tax audits and reviews and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions. The income tax benefit was $0.4 million and $1.1 million for the three months ended June 30, 2024 and 2023, respectively, and was $0.1 million and $0.5 million for the six months ended June 30, 2024 and 2023, respectively. The Company’s effective tax rates of 10.8% and 1.8% for the three and six months ended June 30, 2024, respectively, were lower than the U.S. statutory rate primarily due to the inclusion of non-deductible executive compensation and changes in valuation allowances associated with the Company’s assessment of the likelihood of the recoverability of deferred tax assets. The Company’s effective tax rates of 53.3% and 59.8% for the three and six months ended June 30, 2023 were higher than the U.S. statutory rate primarily due to a Global Intangible Low-Taxed Income (“GILTI”) inclusion to taxable income and changes in valuation allowances. The Company has valuation allowances against substantially all of its tax credit carryforwards.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	13. Commitments and Contingent Liabilities The Company is involved in various 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 likely to have a material adverse effect on its business, financial condition, results of operations or cash flows. Although unfavorable outcomes in the proceedings are possible, the Company has not accrued loss contingencies relating to any such matters as they are not considered to be probable and reasonably estimable. If one or more of these matters are resolved in a manner adverse to the Company, the impact on the Company’s business, financial condition, results of operations and cash flows could be material. In addition, the Company has entered into indemnification agreements with its directors and officers. It is not possible to determine the maximum potential liability amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. The Company has not The Company is subject to unclaimed property laws in the ordinary course of its business. State escheat laws generally require entities to report and remit abandoned and unclaimed property to the state. Failure to timely report and remit the property can result in assessments that could include interest and penalties, in addition to the payment of the escheat liability itself. The Company recorded a credit of $(0.1) million and an expense of $0.3 million during the three and six months ended June 30, 2024, respectively, related to unclaimed property audits which have been included in other operating expenses in the consolidated statement of operations.

Note 14 - Product Line Disposit

Note 14 - Product Line Disposition	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	14. Product Line Disposition In February 2023, the Company sold its Hoefer product line for $0.5 million. The carrying value of assets sold was $0.1 million resulting in a gain on disposition of $0.4 million which was recorded in other income, net in the consolidated statement of operations for the six months ended June 30, 2023. Revenue and gross profit of this disposed product line included in the condensed consolidated statement of operations for the six months ended June 30, 2023 were not significant.

Note 15 - Restructuring and Oth

Note 15 - Restructuring and Other Exit Costs	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	15. 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 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 the three and six months ended June 30, 2024, the Company completed a restructuring and incurred expenses of $0.4 million, primarily consisting of severance incurred in connection with headcount reductions in Europe and North America. The changes in the accrued liability for restructuring and other charges for the six months ended June 30, 2024 were as follows: (in thousands) Inventory-Related Severance Total Balance at December 31, 2023 $ 84 $ - $ 84 Restructuring and other exit costs 41 396 437 Non-cash charges (27 ) - (27 ) Cash payments (98 ) (320 ) (418 ) Balance at June 30, 2024 $ - $ 76 $ 76 The inventory-related costs are included in cost of revenues and the severance costs have been included as a component of other operating expenses (see Note 1).

Note 16 - Subsequent Event

Note 16 - Subsequent Event	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	16. Subsequent Event On August 6, 2024, the Company entered into the August 2024 Amendment to the Credit Agreement as described in Note 8 – Long-Term Debt.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5. Other Information. On May 13, 2024, Bertrand Loy, a member of our Board of Directors, adopted satisfy The description of the August 2024 Amendment to the Credit Agreement included in Note 8 to the Condensed Consolidated Financial Statements (Unaudited) included in Part I, Item 1 of this quarterly report is incorporated herein by reference. The foregoing description of the August 2024 Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the August 2024 Amendment, which is filed as Exhibit 10.1 to this quarterly report.
Trading Arrangement Adoption Date	May 13, 2024
Trading Arrangement, Individual Name	Bertrand Loy
Trading Arrangement, Individual Title	member of our Board of Directors
Rule 10b5-1 Arrangement Adopted [Flag]	true
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Trading Arrangement, Securities Aggregate Available Amount (in shares)	55,300	55,300

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
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, the “Company”) as of June 30, 2024 and for the three and six months ended June 30, 2024 and 2023 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The December 31, 2023 consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of June 30, 2024, results of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, and cash flows for the six months ended June 30, 2024 and 2023, as applicable, have been made. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the operating results for the full fiscal year or any future periods. The accounting policies underlying the accompanying unaudited consolidated financial statements are set forth in Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. There have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2024.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with generally U.S. GAAP requires the use of management estimates. Such estimates include the determination and establishment of certain accruals and provisions, including those for income taxes, credit losses on receivables, and defined benefit pension obligations. Estimates are also required to evaluate the value for inventories reported at lower of cost or net realizable value, stock-based compensation expense, and the recoverability of long-lived and intangible assets, including goodwill. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates.
Other Operating Expenses [Policy Text Block]	Other Operating Expenses The components of other operating expenses for the three and six months ended June 30, 2024 were as follows: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2024 Restructuring expenses (see Note 15) $ 396 $ 396 Unclaimed property audits (credit) expense (see Note 13) (147 ) 347 Employee retention credit fees (see Note 5) - 472 Total other operating expenses $ 249 $ 1,215
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements Yet to Be Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Other Operating Cost and Expense, by Component [Table Text Block]	Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2024 Restructuring expenses (see Note 15) $ 396 $ 396 Unclaimed property audits (credit) expense (see Note 13) (147 ) 347 Employee retention credit fees (see Note 5) - 472 Total other operating expenses $ 249 $ 1,215

Note 2 - Earnings (Loss) per _2

Note 2 - Earnings (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2024 2023 2024 2023 Net loss $ (2,927 ) $ (980 ) $ (7,621 ) $ (358 ) Weighted average shares outstanding - basic 43,486 42,354 43,443 42,204 Dilutive effect of equity awards - - - - Weighted average shares outstanding - diluted 43,486 42,354 43,443 42,204 Basic loss per share $ (0.07 ) $ (0.02 ) $ (0.18 ) $ (0.01 ) Diluted loss per share $ (0.07 ) $ (0.02 ) $ (0.18 ) $ (0.01 ) Shares excluded from diluted loss per share due to their anti-dilutive effect 3,993 4,286 3,600 3,795

Note 3 - Revenues (Tables)

Note 3 - Revenues (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Instruments, equipment, software and accessories $ 21,292 $ 27,268 $ 44,051 $ 55,761 Service, maintenance and warranty contracts 1,805 1,491 3,558 2,973 Total revenues $ 23,097 $ 28,759 $ 47,609 $ 58,734 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Goods and services transferred at a point in time $ 21,983 $ 27,636 $ 45,726 $ 56,942 Goods and services transferred over time 1,114 1,123 1,883 1,792 Total revenues $ 23,097 $ 28,759 $ 47,609 $ 58,734
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 United States $ 10,805 $ 12,336 $ 21,788 $ 24,638 Europe 6,535 9,332 13,113 16,773 Greater China 3,249 4,136 7,631 10,335 Rest of the world 2,508 2,955 5,077 6,988 Total revenues $ 23,097 $ 28,759 $ 47,609 $ 58,734
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	(dollars in thousands) June 30, 2024 December 31, 2023 Change Percentage Service, maintenance and warranty contracts $ 2,534 $ 2,849 $ (315 ) -11.1 % Customer advances 1,476 1,659 (183 ) -11.0 % Total contract liabilities $ 4,010 $ 4,508 $ (498 ) -11.0 %
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Six Months Ended June 30, (in thousands) 2024 2023 Balance, beginning of period $ 160 $ 191 Provision for expected credit losses 46 18 Charge-offs and other (29 ) (55 ) Balance, end of period $ 177 $ 154
Schedule of Product Warranty Liability [Table Text Block]	Six Months Ended June 30, (in thousands) 2024 2023 Balance, beginning of period $ 336 $ 268 Provision for warranties 231 147 Warranty claims (196 ) (114 ) Balance, end of period $ 371 $ 301

Note 4 - Goodwill and Intangi_2

Note 4 - Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	(in thousands) Carrying amount at December 31, 2023 $ 57,065 Effect of change in currency translation (438 ) Carrying amount at June 30, 2024 $ 56,627
Schedule of Intangible Assets and Goodwill [Table Text Block]	June 30, 2024 December 31, 2023 (in thousands) Accumulated Accumulated Amortizable intangible assets: Gross Amortization Net Gross Amortization Net Customer relationships $ 15,785 $ (10,051 ) $ 5,734 $ 16,038 $ (9,706 ) $ 6,332 Technology and software development 35,102 (28,810 ) 6,292 35,007 (27,029 ) 7,978 Trade names and patents 7,519 (6,304 ) 1,215 7,613 (6,094 ) 1,519 Total amortizable intangible assets $ 58,406 $ (45,165 ) $ 13,241 $ 58,658 $ (42,829 ) $ 15,829 Indefinite-lived intangible assets: 200 207 Total intangible assets $ 13,441 $ 16,036
Finite-Lived Intangible Assets Amortization Expense [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of revenues $ 43 $ - $ 87 $ - Operating expense 1,331 1,389 2,664 2,777 Total amortization of intangible assets $ 1,374 $ 1,389 $ 2,751 $ 2,777
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(in thousands) 2024 (remainder of the year) $ 2,674 2025 4,195 2026 2,534 2027 1,263 2028 1,239 Thereafter 1,336 Total $ 13,241

Note 5 - Balance Sheet Inform_2

Note 5 - Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Inventories: (in thousands) June 30, 2024 December 31, 2023 Finished goods $ 5,491 $ 5,120 Work in process 3,296 4,188 Raw materials 16,343 15,408 Total $ 25,130 $ 24,716
Other Current Liabilities [Table Text Block]	Other Current Liabilities: (in thousands) June 30, 2024 December 31, 2023 Compensation $ 2,384 $ 3,929 Customer credits 1,105 3,201 Current portion of operating lease liabilities 1,058 1,416 Employee retention credit funds 3,154 - Professional fees 372 499 Warranty costs 371 336 Other 736 1,240 Total $ 9,180 $ 10,621

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Operating lease cost $ 508 $ 483 $ 1,019 $ 1,026 Short-term lease cost 52 64 102 131 Sublease income (26 ) (26 ) (51 ) (51 ) Total lease cost $ 534 $ 521 $ 1,070 $ 1,106
Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]	Six Months Ended June 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities $ 1,162 $ 1,201 Right-of-use assets obtained in exchange for lease obligations 443 95
Supplemental Balance Sheet Informaton Related to Operating Leases [Table Text Block]	(in thousands) June 30, 2024 December 31, 2023 Operating lease right-of-use assets $ 4,420 $ 4,773 Current portion, operating lease liabilities $ 1,058 $ 1,416 Operating lease liabilities, long-term 4,713 4,794 Total operating lease liabilities $ 5,771 $ 6,210 Weighted average remaining lease term (years) 6 Weighted average discount rate 9.4 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	(in thousands) 2024 (remainder of the year) $ 879 2025 1,278 2026 1,175 2027 1,138 2028 1,116 Thereafter 1,956 Total lease payments 7,542 Less imputed interest (1,771 ) Total operating lease liabilities $ 5,771

Note 8 - Long-term Debt (Tables

Note 8 - Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Debt [Table Text Block]	(in thousands) June 30, 2024 December 31, 2023 Long-term debt: Term loan $ 26,700 $ 30,723 Revolving line 9,400 6,400 Less: unamortized deferred financing costs (420 ) (560 ) Total debt 35,680 36,563 Less: current portion of long-term debt (4,000 ) (6,139 ) Current unamortized deferred financing costs 280 280 Long-term debt $ 31,960 $ 30,704

Note 9 - Derivatives (Tables)

Note 9 - Derivatives (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	(in thousands) June 30, 2024 December 31, 2023 Derivatives Instruments Balance Sheet Classification Notional Amount Fair Value (a) Notional Amount Fair Value (a) Interest rate swap Other long-term assets (liabilities) $ 24,482 $ 34 $ 27,375 $ (199 )
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended Six Months Ended Derivatives Qualifying as Hedges, net of tax June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Gain recognized in OCI on derivatives (effective portion) $ 34 $ 449 $ 233 $ 9 Gain reclassified from accumulated OCI to interest expense 44 26 91 26

Note 10 - Fair Value Measurem_2

Note 10 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value as of June 30, 2024 Assets (Liabilities) Level 1 Level 2 Level 3 Total Interest rate swap agreement $ - $ 34 $ - $ - Fair Value as of December 31, 2023 Level 1 Level 2 Level 3 Total Equity securities - common stock $ 3,511 $ - $ - $ 3,511 Interest rate swap agreement $ - $ (199 ) $ - $ (199 )

Note 11 - Stock-based Compens_2

Note 11 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of revenues $ 66 $ 95 $ 118 $ 164 Sales and marketing expenses 159 195 289 340 General and administrative expenses 927 704 1,698 1,573 Research and development expenses 126 108 221 178 Total stock-based compensation expense $ 1,278 $ 1,102 $ 2,326 $ 2,255
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Market- Performance- Time-Based Based Based Restricted Grant Date Restricted Grant Date Restricted Grant Date Stock Units Fair Value Stock Units Fair Value Stock Units Fair Value Balance at December 31, 2023 1,164,996 $ 3.28 801,845 $ 3.37 - $ - Granted 981,540 4.00 - - 375,895 4.19 Vested (150,383 ) 4.95 - - - - Forfeited (41,383 ) 3.61 - - - - Balance at June 30, 2024 1,954,770 $ 3.51 801,845 $ 3.37 375,895 $ 4.19
Schedule of Stock Options Roll Forward [Table Text Block]	Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) Outstanding and exercisable at December 31, 2023 924,067 $ 3.37 Exercised (7,848 ) 3.58 Cancelled/Forfeited (19,266 ) 4.46 Outstanding and exercisable at June 30, 2024 896,953 $ 3.35 3.00 $ 91

Note 15 - Restructuring and O_2

Note 15 - Restructuring and Other Exit Costs (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Restructuring and Related Costs [Table Text Block]	(in thousands) Inventory-Related Severance Total Balance at December 31, 2023 $ 84 $ - $ 84 Restructuring and other exit costs 41 396 437 Non-cash charges (27 ) - (27 ) Cash payments (98 ) (320 ) (418 ) Balance at June 30, 2024 $ - $ 76 $ 76

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Summary of Other Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring expenses (see Note 15)	$ 396		$ 396
Unclaimed property audits (credit) expense (see Note 13)	(147)		347
Employee retention credit fees (see Note 5)	0		472
Total other operating expenses	$ 249	$ 0	$ 1,215	$ 0

Note 2 - Earnings (Loss) per _3

Note 2 - Earnings (Loss) per Share - Schedule of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net (loss) income	$ (2,927)	$ (980)	$ (7,621)	$ (358)
Weighted average shares outstanding - basic (in shares)	43,486	42,354	43,443	42,204
Dilutive effect of equity awards (in shares)	0	0	0	0
Weighted average shares outstanding - diluted (in shares)	43,486	42,354	43,443	42,204
Basic and diluted (in dollars per share)	$ (0.07)	$ (0.02)	$ (0.18)	$ (0.01)
Diluted (loss) income per share (in dollars per share)	$ (0.07)	$ (0.02)	$ (0.18)	$ (0.01)
due to their anti-dilutive effect (in shares)	3,993	4,286	3,600	3,795

Note 3 - Revenues (Details Text

Note 3 - Revenues (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Contract with Customer, Liability, Revenue Recognized	$ 1	$ 0.6	$ 2.6	$ 1.6

Note 3 - Revenues - Disaggregat

Note 3 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 23,097	$ 28,759	$ 47,609	$ 58,734
Transferred at Point in Time [Member]
Revenues	21,983	27,636	45,726	56,942
Transferred over Time [Member]
Revenues	1,114	1,123	1,883	1,792
Instruments, Equipment, Software, and Accessories [Member]
Revenues	21,292	27,268	44,051	55,761
Service, Maintenance, and Warranty Contracts [Member]
Revenues	$ 1,805	$ 1,491	$ 3,558	$ 2,973

Note 3 - Revenues - Revenue by

Note 3 - Revenues - Revenue by Geographic Destination (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenues	$ 23,097	$ 28,759	$ 47,609	$ 58,734
UNITED STATES
Total revenues	10,805	12,336	21,788	24,638
Europe [Member]
Total revenues	6,535	9,332	13,113	16,773
Greater China [Member]
Total revenues	3,249	4,136	7,631	10,335
Rest of the World [Member]
Total revenues	$ 2,508	$ 2,955	$ 5,077	$ 6,988

Note 3 - Revenues - Deferred Re

Note 3 - Revenues - Deferred Revenue (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Deferred revenue	$ 4,010		$ 4,508
Deferred Revenue, change	$ (498)	$ 445
Deferred revenue, % change	(11.00%)
Service, Maintenance, and Warranty Contracts [Member]
Deferred revenue	$ 2,534		2,849
Deferred Revenue, change	$ (315)
Deferred revenue, % change	(11.10%)
Customer Advances [Member]
Deferred revenue	$ 1,476		$ 1,659
Deferred Revenue, change	$ (183)
Deferred revenue, % change	(11.00%)

Note 3 - Revenues - Allowance f

Note 3 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Balance, beginning of period	$ 160	$ 191
Provision for expected credit losses	46	18
Charge-offs and other	(29)	(55)
Balance, end of period	$ 177	$ 154

Note 3 - Revenues - Warranties

Note 3 - Revenues - Warranties (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Balance	$ 336	$ 268
Provision for warranties	231	147
Warranty claims	(196)	(114)
Balance	$ 371	$ 301

Note 4 - Goodwill and Intangi_3

Note 4 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Carrying amount	$ 57,065
Effect of change in currency translation	(438)
Carrying amount	$ 56,627

Note 4 - Goodwill and Intangi_4

Note 4 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Gross	$ 58,406	$ 58,658
Total amortizable intangible assets	(45,165)	(42,829)
Finite-Lived Intangible Assets, Net	13,241	15,829
Indefinite-lived intangible assets:	200	207
Intangible assets, net	13,441	16,036
Distribution Agreements/Customer Relationships [Member]
Finite-Lived Intangible Assets, Gross	15,785	16,038
Total amortizable intangible assets	(10,051)	(9,706)
Finite-Lived Intangible Assets, Net	5,734	6,332
Existing Technology and Software Development [Member]
Finite-Lived Intangible Assets, Gross	35,102	35,007
Total amortizable intangible assets	(28,810)	(27,029)
Finite-Lived Intangible Assets, Net	6,292	7,978
Trade Names and Patents [Member]
Finite-Lived Intangible Assets, Gross	7,519	7,613
Total amortizable intangible assets	(6,304)	(6,094)
Finite-Lived Intangible Assets, Net	$ 1,215	$ 1,519

Note 4 - Goodwill and Intangi_5

Note 4 - Goodwill and Intangible Assets - Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total amortization of intangible assets	$ 1,374	$ 1,389	$ 2,751	$ 2,777
Cost of Revenues [Member]
Total amortization of intangible assets	43	0	87	0
Operating Expense [Member]
Total amortization of intangible assets	$ 1,331	$ 1,389	$ 2,664	$ 2,777

Note 4 - Goodwill and Intangi_6

Note 4 - Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
2024 (remainder of the year)	$ 2,674
2025	4,195
2026	2,534
2027	1,263
2028	1,239
Thereafter	1,336
Total	$ 13,241	$ 15,829

Note 5 - Balance Sheet Inform_3

Note 5 - Balance Sheet Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Proceeds from Employee Retention Credit Refund		$ 3,200
Professional Fees	$ 0	$ 472

Note 5 - Balance Sheet Inform_4

Note 5 - Balance Sheet Information - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finished goods	$ 5,491	$ 5,120
Work in process	3,296	4,188
Raw materials	16,343	15,408
Total	$ 25,130	$ 24,716

Note 5 - Balance Sheet Inform_5

Note 5 - Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Compensation	$ 2,384	$ 3,929
Customer credits	1,105	3,201
Current portion of operating lease liabilities	1,058	1,416
Employee retention credit funds	3,154	0
Professional fees	372	499
Warranty costs	371	336
Other	736	1,240
Total	$ 9,180	$ 10,621

Note 6 - Marketable Equity Se_2

Note 6 - Marketable Equity Securities (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Proceeds from Sale of Equity Securities, FV-NI		$ 1,919	$ 0
Harvard Apparatus Regenerative Technology, Inc. (“HART”) [Member]
Investment Owned, Fair Value				$ 3,500
Proceeds from Sale of Equity Securities, FV-NI	$ 1,400	1,900
Equity Securities, FV-NI, Realized Loss	$ 300	$ 1,600

Note 7 - Leases - Lease Expense

Note 7 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating lease cost	$ 508	$ 483	$ 1,019	$ 1,026
Short-term lease cost	52	64	102	131
Sublease income	(26)	(26)	(51)	(51)
Total lease cost	$ 534	$ 521	$ 1,070	$ 1,106

Note 7 - Leases - Supplemental

Note 7 - Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities	$ 1,162	$ 1,201
Right-of-use assets obtained in exchange for lease obligations	$ 443	$ 95

Note 7 - Leases - Supplementa_2

Note 7 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating lease right-of-use assets	$ 4,420	$ 4,773
Current portion, operating lease liabilities	1,058	1,416
Operating lease liabilities, long-term	4,713	4,794
Total operating lease liabilities	$ 5,771	$ 6,210
Weighted average remaining lease term (years) (Year)	6 years
Weighted average discount rate	9.40%

Note 7 - Leases - Future Minimu

Note 7 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
2024 (remainder of the year)	$ 879
2025	1,278
2026	1,175
2027	1,138
2028	1,116
Thereafter	1,956
Total lease payments	7,542
Less imputed interest	(1,771)
Total operating lease liabilities	$ 5,771	$ 6,210

Note 8 - Long-term Debt (Detail

Note 8 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Aug. 01, 2024	Mar. 29, 2024	Dec. 31, 2023	Dec. 22, 2020
Debt Issuance Costs, Net, Total	$ 420			$ 420				$ 560
The Credit Agreement [Member]
Debt Issuance Costs, Net, Total									$ 1,400
Line of Credit Facility, Interest Rate During Period	7.90%	8.30%		7.80%	8.10%
Line of Credit Facility, Interest Rate at Period End	7.70%			7.70%
Debt Instrument, Quarterly Payment, Thereafter	$ 1,000			$ 1,000
Debt Instrument, Current Maturities, Excess Cash Flow Sweep							$ 2,000
The Credit Agreement [Member] | Subsequent Event [Member]
Debt Instrument, Fee Amount						$ 200
The Credit Agreement [Member] | Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate, Increase (Decrease)			0.50%
The Credit Agreement [Member] | Minimum [Member] | Forecast [Member]
Debt Instrument, Net Leverage Ratio			3
The Credit Agreement [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Interest Rate, State Floor Percentage	0.50%			0.50%
The Credit Agreement [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate				3.75%
The Credit Agreement [Member] | Base Rate [Member]
Debt Instrument, Interest Rate, State Floor Percentage	1%			1%
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				3.50%
The Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity	$ 5,400			$ 5,400
Term Loan [Member]
Long-Term Debt, Gross	$ 26,700			$ 26,700				$ 30,723
The SOFR Loan and Pricing Grid Credit Agreement [Member] | The Credit Agreement [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				2%
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 8 - Long-term Debt - Break

Note 8 - Long-term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Less: unamortized deferred financing costs	$ (420)	$ (560)
Total debt	35,680	36,563
Less: current portion of long-term debt	(4,000)	(6,139)
Current unamortized deferred financing costs	280	280
Long-term debt	31,960	30,704
Term Loan [Member]
Long-term debt, gross	26,700	30,723
Line of Credit [Member]
Long-term debt, gross	$ 9,400	$ 6,400

Note 9 - Derivatives - Derivati

Note 9 - Derivatives - Derivative Instruments (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Interest rate swap, notional		$ 24,482	$ 27,375
Interest rate swap, fair value	[1]	$ 34	$ (199)
[1]See Note 10 for the fair value measurements related to these financial instruments.

Note 9 - Derivatives - The Effe

Note 9 - Derivatives - The Effect of Derivatives Designated as Cash Flow Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain recognized in OCI on derivatives (effective portion)	$ 34	$ 449	$ 233	$ 9
Gain reclassified from accumulated OCI to interest expense	$ 44	$ 26	$ 91	$ 26

Note 10 - Fair Value Measurem_3

Note 10 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Equity securities - common stock		$ 3,511
Fair Value, Inputs, Level 1 [Member]
Equity securities - common stock		3,511
Fair Value, Inputs, Level 2 [Member]
Equity securities - common stock		0
Fair Value, Inputs, Level 3 [Member]
Equity securities - common stock		0
Interest Rate Swap [Member]
Interest rate swap agreement	$ 0
Interest rate swap agreement		(199)
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member]
Interest rate swap agreement	0
Interest rate swap agreement		0
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Interest rate swap agreement	34
Interest rate swap agreement		(199)
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member]
Interest rate swap agreement	$ 0
Interest rate swap agreement		$ 0

Note 11 - Stock-based Compens_3

Note 11 - Stock-based Compensation (Details Textual) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 7,800
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years
Vesting Rate of the Targeted Shareholder Return	100%
Minimum Vesting Rate of the Targeted Shareholder Return, Percentage	0%
Maximum Vesting Rate of the Targeted Shareholder Return, Percentage	150%
Share Price | $ / shares	$ 2.85
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0

Note 11 - Stock-based Compens_4

Note 11 - Stock-based Compensation - Stock-based Compensation Expense (Details) - Continuing Operations [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based compensation	$ 1,278	$ 1,102	$ 2,326	$ 2,255
Cost of Sales [Member]
Share-based compensation	66	95	118	164
Selling and Marketing Expense [Member]
Share-based compensation	159	195	289	340
General and Administrative Expense [Member]
Share-based compensation	927	704	1,698	1,573
Research and Development Expense [Member]
Share-based compensation	$ 126	$ 108	$ 221	$ 178

Note 11 - Stock-based Compens_5

Note 11 - Stock-based Compensation - Activity of Restricted Stock Units (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Time-based Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares) | shares	1,164,996
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.28
Restricted Stock Units, Granted in Period (in shares) | shares	981,540
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 4
Restricted Stock Units, Vested in Period (in shares) | shares	(150,383)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 4.95
Restricted Stock Units, Forfeited in Period (in shares) | shares	(41,383)
Restricted Stock Units, Forfeited, Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.61
Restricted Stock Units Outstanding , Balance (in shares) | shares	1,954,770
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.51
Market Condition Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares) | shares	801,845
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.37
Restricted Stock Units, Granted in Period (in shares) | shares	0
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 0
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, Forfeited in Period (in shares) | shares	0
Restricted Stock Units, Forfeited, Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 0
Restricted Stock Units Outstanding , Balance (in shares) | shares	801,845
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 3.37
Performance-based Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares) | shares	0
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 0
Restricted Stock Units, Granted in Period (in shares) | shares	375,895
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 4.19
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, Forfeited in Period (in shares) | shares	0
Restricted Stock Units, Forfeited, Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 0
Restricted Stock Units Outstanding , Balance (in shares) | shares	375,895
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) | $ / shares	$ 4.19

Note 11 - Stock-based Compens_6

Note 11 - Stock-based Compensation - Stock-Based Payment Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024
Outstanding and exerciseable, shares (in shares)	924,067
Outstanding and exerciseable, weighted average exercise price (in dollars per share)	$ 3.37
Exercised, shares (in shares)	(7,848)
Exercised, weighted average exercise price (in dollars per share)	$ 3.58
Cancelled/Forfeited, shares (in shares)	(19,266)
Cancelled/Forfeited, weighted average exercise price (in dollars per share)	$ 4.46
Outstanding and exerciseable, shares (in shares)	896,953
Outstanding and exerciseable, weighted average exercise price (in dollars per share)	$ 3.35
Outstanding and exerciseable, contractual term (Year)	3 years
Outstanding and exerciseable, aggregated intrinsic value	$ 91

Note 12 - Income Tax (Details T

Note 12 - Income Tax (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Expense (Benefit)	$ 353	$ 1,118	$ 143	$ 533
Effective Income Tax Rate Reconciliation, Percent	10.80%	53.30%	1.80%	59.80%

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingent Liabilities (Details Textual) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Unclaimed Property Audits (Credit) Expense	$ (147)	$ 347
Director [Member] | Indemnification Agreements [Member]
Liability for Contingent Indemnification Obligations	$ 0	$ 0

Note 14 - Product Line Dispos_2

Note 14 - Product Line Disposition (Details Textual) - USD ($) $ in Thousands		6 Months Ended
	Feb. 17, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain (Loss) on Disposition of Business		$ 0	$ 403
Hoefer Product Line [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Disposal Group, Including Discontinued Operation, Consideration	$ 500
Disposal Group, Including Discontinued Operation, Assets	100
Gain (Loss) on Disposition of Business	$ 400

Note 15 - Restructuring and O_3

Note 15 - Restructuring and Other Exit Costs (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Restructuring Charges	$ 396	$ 396
Employee Severance [Member] | Europe and North America [Member]
Restructuring Charges	$ 400	$ 400

Note 15 - Restructuring and O_4

Note 15 - Restructuring and Other Exit Costs - Restructuring and Related Costs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Balance at December 31, 2023	$ 84
Restructuring and other exit costs	437
Non-cash charges	(27)
Cash payments	(418)
Balance at June 30, 2024	76
Cost of Revenues [Member]
Balance at December 31, 2023	84
Restructuring and other exit costs	41
Non-cash charges	(27)
Cash payments	(98)
Balance at June 30, 2024	0
Employee Severance [Member]
Balance at December 31, 2023	0
Restructuring and other exit costs	396
Non-cash charges	0
Cash payments	(320)
Balance at June 30, 2024	$ 76