Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | May 02, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001158114 | |
Entity Registrant Name | APPLIED OPTOELECTRONICS, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-36083 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 76-0533927 | |
Entity Address, Address Line One | 13139 Jess Pirtle Blvd | |
Entity Address, City or Town | Sugar Land | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77478 | |
City Area Code | 281 | |
Local Phone Number | 295-1800 | |
Title of 12(b) Security | Common Stock, Par value $0.001 | |
Trading Symbol | AAOI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 29,195,682 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Current Assets | ||
Cash and cash equivalents | $ 16,103 | $ 24,685 |
Restricted cash | 10,845 | 10,902 |
Accounts receivable - trade, net of allowance of $39 and $28, respectively | 56,799 | 61,175 |
Notes receivable | 1,079 | 339 |
Inventories | 70,186 | 79,679 |
Prepaid expenses and other current assets | 6,517 | 6,384 |
Total current assets | 161,529 | 183,164 |
Property, plant and equipment, net | 207,171 | 210,184 |
Land use rights, net | 5,278 | 5,238 |
Operating right of use asset | 5,381 | 5,566 |
Financing right of use asset | 18 | 26 |
Intangible assets, net | 3,655 | 3,699 |
Other assets, net | 519 | 386 |
TOTAL ASSETS | 383,551 | 408,263 |
Current liabilities | ||
Accounts payable | 38,419 | 47,845 |
Bank acceptance payable | 19,196 | 12,337 |
Accrued liabilities | 13,505 | 17,222 |
Deferred revenue | 2,763 | 3,000 |
Current lease liability - operating | 1,035 | 1,041 |
Current lease liability - financing | 58 | 63 |
Current portion of notes payable and long-term debt | 50,921 | 57,074 |
Current portion of Convertible senior notes | 79,710 | 0 |
Total current liabilities | 205,607 | 138,582 |
Non-current lease liability - operating | 5,307 | 5,505 |
Convertible senior notes | 0 | 79,506 |
TOTAL LIABILITIES | 210,914 | 223,593 |
Stockholders' equity: | ||
Common Stock; 45,000 shares authorized at $0.001 par value; 29,072 and 28,622 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively | 29 | 29 |
Additional paid-in capital | 394,147 | 391,526 |
Accumulated other comprehensive income | 3,823 | 2,183 |
Accumulated deficit | (225,362) | (209,068) |
TOTAL STOCKHOLDERS' EQUITY | 172,637 | 184,670 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 383,551 | $ 408,263 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Accounts receivable, allowance | $ 39 | $ 28 |
Common stock, shares authorized (in shares) | 45,000 | 45,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued (in shares) | 29,072 | 28,622 |
Common stock, shares outstanding (in shares) | 29,072 | 28,622 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue, net | $ 53,030 | $ 52,242 |
Cost of goods sold | 43,786 | 43,217 |
Gross profit | 9,244 | 9,025 |
Operating expenses | ||
Research and development | 8,536 | 9,486 |
Sales and marketing | 2,327 | 2,558 |
General and administrative | 12,548 | 11,220 |
Total operating expenses | 23,411 | 23,264 |
Loss from operations | (14,167) | (14,239) |
Other income (expense) | ||
Interest income | 33 | 28 |
Interest expense | (2,137) | (1,401) |
Other expense, net | (21) | (450) |
Total other income (expense), net | (2,125) | (1,823) |
Loss before income taxes | (16,292) | (16,062) |
Net loss | $ (16,292) | $ (16,062) |
Net loss per share | ||
Basic (in dollars per share) | $ (0.56) | $ (0.58) |
Diluted (in dollars per share) | $ (0.56) | $ (0.58) |
Weighted average shares used to compute net loss per share: | ||
Basic (in shares) | 28,871,857 | 27,463,321 |
Diluted (in shares) | 28,871,857 | 27,463,321 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net loss | $ (16,292) | $ (16,062) |
Gain (Loss) on foreign currency translation adjustment | 1,640 | (1,262) |
Comprehensive loss | $ (14,652) | $ (17,324) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 0 | 27,323 | ||||
Balance at Dec. 31, 2021 | $ 0 | $ 27 | $ 381,143 | $ 16,071 | $ (142,671) | $ 254,570 |
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 207 | ||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (141) | 0 | 0 | (141) |
Share-based compensation | 0 | 0 | 2,472 | 0 | 0 | 2,472 |
Foreign currency translation adjustment | 0 | 0 | 0 | (1,262) | 0 | (1,262) |
Net loss | $ 0 | $ 0 | 0 | 0 | (16,062) | (16,062) |
Balance (in shares) at Mar. 31, 2022 | 0 | 27,530 | ||||
Balance at Mar. 31, 2022 | $ 0 | $ 27 | 383,474 | 14,809 | (158,733) | 239,577 |
Balance (in shares) at Dec. 31, 2022 | 0 | 28,622 | ||||
Balance at Dec. 31, 2022 | $ 0 | $ 29 | 391,526 | 2,183 | (209,068) | 184,670 |
Issuance of restricted stock, net of shares withheld for employee tax (in shares) | 0 | 292 | ||||
Issuance of restricted stock, net of shares withheld for employee tax | $ 0 | $ 0 | (76) | 0 | 0 | (76) |
Share-based compensation | $ 0 | $ 0 | 2,290 | 0 | 0 | 2,290 |
Public offering of common stock, net (in shares) | 0 | 158 | ||||
Public offering of common stock, net | $ 0 | $ 0 | 407 | 0 | 0 | 407 |
Foreign currency translation adjustment | 0 | 0 | 0 | 1,640 | (2) | 1,638 |
Net loss | $ 0 | $ 0 | 0 | 0 | (16,292) | (16,292) |
Balance (in shares) at Mar. 31, 2023 | 0 | 29,072 | ||||
Balance at Mar. 31, 2023 | $ 0 | $ 29 | $ 394,147 | $ 3,823 | $ (225,362) | $ 172,637 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating activities: | ||
Net loss | $ (16,292) | $ (16,062) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Allowance of bad debt | 11 | (1) |
Inventory reserve adjustment | 2,588 | 2,037 |
Depreciation and amortization | 5,329 | 6,108 |
Amortization of debt issuance costs | 306 | 211 |
Gain (loss) on disposal of assets | 3 | (39) |
Share-based compensation | 2,290 | 2,472 |
Unrealized foreign exchange (gain) loss | (1,065) | 997 |
Changes in operating assets and liabilities: | ||
Accounts receivable, trade | 4,365 | (223) |
Notes receivable | (742) | 6,986 |
Prepaid income tax | 0 | 1 |
Inventories | 7,403 | (1,978) |
Other current assets | (80) | (1,422) |
Operating right of use asset | 230 | 243 |
Accounts payable | (9,427) | (406) |
Accrued liabilities | (3,815) | (2,271) |
Unearned revenue | (237) | 0 |
Lease liability | (257) | (256) |
Net cash used in operating activities | (9,390) | (3,603) |
Investing activities: | ||
Purchase of property, plant and equipment | (575) | (1,022) |
Proceeds from disposal of equipment | 65 | 115 |
Deposits and prepaid for equipment | (160) | (30) |
Purchase of intangible assets | (113) | (114) |
Net cash used in investing activities | (783) | (1,051) |
Financing activities: | ||
Principal payments of long-term debt and notes payable | 0 | (170) |
Proceeds from line of credit borrowings | 19,482 | 41,395 |
Repayments of line of credit borrowings | (25,402) | (39,062) |
Proceeds from bank acceptance payable | 18,974 | 9,686 |
Repayments of bank acceptance payable | (12,293) | (7,968) |
Principal payments of financing lease | (5) | (5) |
Payments of tax withholding on behalf of employees related to share-based compensation | (75) | (140) |
Proceeds from common stock offering, net | 407 | 0 |
Net cash provided by financing activities | 1,088 | 3,736 |
Effect of exchange rate changes on cash | 446 | (110) |
Net decrease in cash, cash equivalents and restricted cash | (8,639) | (1,028) |
Cash, cash equivalents and restricted cash at beginning of period | 35,587 | 41,136 |
Cash, cash equivalents and restricted cash at end of period | 26,948 | 40,108 |
Supplemental disclosure of cash flow information: | ||
Interest, net of amounts capitalized | 2,304 | 2,406 |
Non-cash investing and financing activities: | ||
Net change in accounts payable related to property and equipment additions | (20) | 19 |
Net change in deposits and prepaid for equipment related to property and equipment additions | $ (93) | $ 13 |
Note 1 - Description of Busines
Note 1 - Description of Business | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Business Overview Applied Optoelectronics, Inc. (“AOI” or the “Company”) is a Delaware corporation. The Company is a leading, vertically integrated provider of fiber-optic networking products, primarily for four The Company has manufacturing and research and development facilities located in the U.S., Taiwan and China. In the U.S., at its corporate headquarters and manufacturing facilities in Sugar Land, Texas, the Company primarily manufactures lasers and laser components and performs research and development activities for laser component and optical module products. In addition, the Company also has a research and development facility in Duluth, Georgia. The Company operates in Taipei, Taiwan and Ningbo, China through its wholly-owned subsidiary Prime World International Holdings, Ltd. (“Prime World”, incorporated in the British Virgin Islands). Prime World operates a branch in Taipei, Taiwan, which primarily manufactures transceivers and performs research and development activities for the transceiver products. Prime World is also the parent of Global Technology, Inc. (“Global”, incorporated in the People’s Republic of China). Through Global, the Company primarily manufactures certain of its data center transceiver products, including subassemblies, as well as CATV systems and equipment, and performs research and development activities for the CATV products. Interim Financial Statements The unaudited condensed consolidated financial statements of the Company as of March 31, 2023 December 31, 2022 three March 31, 2023 March 31, 2022 10 10 01 X 10 December 31, 2022 three March 31, 2023 not Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates in the consolidated financial statement s and accompanying notes. Significant estimates and assumptions that impact these financial statements and the accompanying notes relate to, among other things, allowance for doubtful accounts, inventory reserve, impairment of long-lived assets, service and product warranty costs, share-based compensation expense, estimated useful lives of property and equipment, and taxes. Divestiture Agreement with Yuhan Optoelectronic Technology (Shanghai) Co., Ltd On September 15, 2022, The purchase price will be an amount equal to the $150 million USD equivalent of Renminbi, less a holdback amount. Prior to the closing of the transaction the Company anticipates investing an amount equal to between 4% and 10% of the estimated proceeds from the transaction in exchange for a 10% equity interest in the Purchaser. Our management has performed an evaluation as required by ASC- 360 10 45 9 March 31, 2023 360 one not not not 360 none |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. There have been no three March 31, 2023 2022 Recent Accounting Pronouncements Recent Accounting Pronouncements Yet to be Adopted To date, there have been no not |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3. Disaggregation of Revenue Revenue is classified based on the location where the product is manufactured. For additional information on the disaggregated revenues by geographical region, see Note 17, Revenue is also classified by major product category and is presented below (in thousands): Three months ended March 31, % of % of 2023 Revenue 2022 Revenue CATV $ 27,779 52.4 % $ 24,980 47.8 % Data Center 20,353 38.4 % 21,415 41.0 % Telecom 3,707 7.0 % 5,265 10.1 % FTTH 2 0.0 % 98 0.2 % Other 1,189 2.2 % 484 0.9 % Total Revenue $ 53,030 100.0 % $ 52,242 100.0 % |
Note 4 - Leases
Note 4 - Leases | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | Note 4. The Company leases space under non-cancellable operating leases for manufacturing facilities, research and development offices and certain storage facilities and apartments. These leases do not one one As most of the Company’s leases do not Lease expense is included under general and administrative expenses and was $0.3 million each for the periods ended March 31, 2023 March 31, 2022. Three months ended March 31, 2023 2022 Operating lease expense $ 282 $ 306 Financing lease expense 8 8 Short Term lease expense 3 3 Total lease expense $ 293 $ 317 Maturities of lease liabilities are as follows for the future one March 31, 2023 Operating Financing 2023 1,221 60 2024 1,136 - 2025 1,151 - 2026 1,076 - 2027 1,099 - 2028 and thereafter 1,289 - Total lease payments 6,971 60 Less imputed interest (629 ) (2 ) Present value 6,342 58 The weighted average remaining lease term and discount rate for the leases were as follows for the periods indicated: Three months ended March 31, 2023 2022 Weighted Average Remaining Lease Term (Years) - operating leases 5.96 6.91 Weighted Average Remaining Lease Term (Years) - financing leases 0.58 1.58 Weighted Average Discount Rate - operating leases 3.20 % 3.22 % Weighted Average Discount Rate - financing leases 5.00 % 5.00 % Supplemental cash flow information related to the leases was as follows for the periods indicated (in thousands): Three months ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 309 314 Operating cash flows from financing lease 1 1 Financing cash flows from financing lease 5 5 |
Note 5 - Cash, Cash Equivalents
Note 5 - Cash, Cash Equivalents and Restricted Cash | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 5. The following table provides a reconciliation of c ash, cash equivalents and r March 31, December 31, 2023 2022 Cash and cash equivalents $ 16,103 $ 24,685 Restricted cash 10,845 10,902 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 26,948 $ 35,587 Restricted cash includes guarantee deposits for customs duties, China government subsidy fund, and compensating balances associated with certain credit facilities. As of March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 $1.0 March 31, 2023 December 31, 2022 |
Note 6 - Earnings (Loss) Per Sh
Note 6 - Earnings (Loss) Per Share | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6. Basic net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from stock options, restricted stock units and senior convertible notes outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and diluted loss per share are the same. The following table sets forth the computation of the basic and diluted net loss per share for the periods indicated (in thousands): Three months ended March 31, 2023 2022 Numerator: Net loss $ (16,292 ) $ (16,062 ) Denominator: Weighted average shares used to compute net loss per share Basic 28,872 27,463 Diluted 28,872 27,463 Net loss per share Basic $ (0.56 ) $ (0.58 ) Diluted $ (0.56 ) $ (0.58 ) The following potentially dilutive securities were excluded from the diluted net loss per share as their effect would have been antidilutive (in thousands): Three months ended March 31, 2023 2022 Employee stock options — __ Restricted stock units 458 __ Shares for convertible senior notes 4,587 4,587 Total antidilutive shares 5,045 4,587 |
Note 7 - Inventories
Note 7 - Inventories | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 7. Inventories, net of inventory write-downs, consist of the following for the periods indicated (in thousands): March 31, 2023 December 31, 2022 Raw materials $ 21,315 $ 25,732 Work in process and sub-assemblies 33,614 39,563 Finished goods 15,257 14,384 Total inventories $ 70,186 $ 79,679 For the three March 31, 2023 2022 three March 31, 2023 2022 |
Note 8 - Property, Plant and Eq
Note 8 - Property, Plant and Equipment | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 8. Property, plant and equipment consisted of the following for the periods indicated (in thousands): March 31, 2023 December 31, 2022 Land improvements $ 806 $ 806 Buildings and improvements 86,889 86,372 Machinery and equipment 252,892 251,216 Furniture and fixtures 5,434 5,382 Computer equipment and software 11,815 11,713 Transportation equipment 686 679 358,522 356,168 Less accumulated depreciation and amortization (183,003 ) (177,519 ) 175,519 178,649 Construction in progress 30,551 30,434 Land 1,101 1,101 Total property, plant and equipment, net $ 207,171 $ 210,184 For the three March 31, 2023 2022 s $5.2 million three March 31, 2023 2022 As of March 31, 2023 , the Company concluded that its continued loss history constitutes a triggering event as described in ASC 360 - 10 - 35 - 21, Property, Plant, and Equipment . The Company performed a recoverability test and concluded that future undiscounted cash flows exceed the carrying amount of the Company’s long-lived assets and therefore no |
Note 9 - Intangible Assets, Net
Note 9 - Intangible Assets, Net | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 9. Intangible assets consisted of the following for the periods indicated (in thousands): March 31, 2023 Gross Accumulated Intangible Amount amortization assets, net Patents $ 9,111 $ (5,493 ) $ 3,618 Trademarks 60 (23 ) 37 Total intangible assets $ 9,171 $ (5,516 ) $ 3,655 December 31, 2022 Gross Accumulated Intangible Amount amortization assets, net Patents $ 8,994 $ (5,330 ) $ 3,664 Trademarks 56 (21 ) 35 Total intangible assets $ 9,050 $ (5,351 ) $ 3,699 For the three March 31, 2023 2022 mately 5.7 years. At March 31, 2023 one 2023 477 2024 636 2025 636 2026 636 2027 636 2028 and thereafter 634 3,655 |
Note 10 - Fair Value of Financi
Note 10 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10. The carrying value amounts of cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses, notes receivable and other current assets, accounts payable, accrued expenses, bank acceptance payable and other current liabilities approximate fair value because of the short-term maturity of these instruments. The Company believes that the interest rates in effect at each period end represent the current market rates for similar borrowings. The fair value of convertible senior notes is measured for disclosure purposes only. The fair value and carrying amount of our convertible senior notes as of March 31, 2023 $79.9 December 31, 2022, 2 |
Note 11 - Notes Payable and Lon
Note 11 - Notes Payable and Long-term Debt | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 11. Notes payable and long-term debt consisted of the following for the periods indicated (in thousands): March 31, 2023 December 31, 2022 Revolving line of credit with a U.S. bank up to $ 27.780 9.663 12/14/2023 11/16/2025 20,520 25,000 Revolving line of credit with a China bank up to $ 19,037 4.57 6.12 May 24, 2024 12,918 13,102 Credit facility with a China bank up to $ 26,651 4.45 6.6 June 6, 2027 17,828 20,140 Credit facility with a China bank up to $ 728 2.7 November 23, 2023 728 - Sub-total 51,994 58,242 Less debt issuance costs, net (1,073 ) (1,168 ) Grand total 50,921 57,074 Less current portion (50,921 ) (57,074 ) Non-current portion $ - $ - Bank Acceptance Notes Payable Bank acceptance notes issued to vendors with a zero percent interest rate $ 19,196 $ 12,337 The current portion of long-term debt is the amount payable within one March 31, 2023 Maturities of long-term debt are as follows for the future one March 31, Within one year $ 50,921 Beyond one year - Total outstanding $ 50,921 On November 16, 2022, three 50% November 16, 2025 91 March 31, 2023 On May 24, 2019, five may 5 may March 31, 2023 On June 7, 2022, five "¥200M may ¥200M June 7, 2022 June 6, 2027 (" ¥200M ¥200M may ¥200M ¥200M may ¥200M March 31, 2023 ¥200M As of March 31, 2023 and December 31, 2022 , the Company had $ million of unused borrowing capacity, respectively. As of March 31, 2023 December 31, 2022 was $9.4 million and $9.9 million of restricted cash, investme |
Note 12 - Convertible Senior No
Note 12 - Convertible Senior Notes | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | Note 12. On March 5, 2019, 2024 March 5, 2019 5.00% March 15 September 15 September 15, 2019. March 15, 2024, The sale of the Notes generated net proceeds of $76.4 million, after deducting the Initial Purchasers’ discounts and offering expenses payable by the Company. The Company used approximately $37.8 million of the net proceeds from the offering to fully repay the CapEx Loan and Term Loan with Truist Bank and the remainder will be used for general corporate purposes. The following table presents the carrying value of the Notes for the periods indicated (in thousands): March 31, December 31, 2023 2022 Principal $ 80,500 $ 80,500 Unamortized debt issuance costs (790 ) (994 ) Net carrying amount $ 79,710 $ 79,506 The Notes are convertible at the option of holders of the Notes at any time until the close of business on the scheduled trading day immediately preceding the maturity date. Upon conversion, holders of the Notes will receive shares of the Company’s common stock, together, if applicable, with cash in lieu of any fractional share, at the then-applicable conversion rate. The initial conversion rate is 56.9801 shares of the Company’s common stock per $1,000 principal amount of Notes (representing an initial conversion price of approximately $17.55 per share of common stock, which represents an initial conversion premium of approximately 30% above the closing price of $13.50 per share of the Company’s common stock on February 28, 2019 March 15, 2022, Initially and as of March 31, 2023 no Holders may After March 15, 2022, may not The Indenture contains covenants that limit the Company’s ability and the ability of our subsidiaries to, among other things: (i) incur or guarantee additional indebtedness or issue disqualified stock; and (ii) create or incur liens. Pursuant to the guidance in ASC 815 40, 815 40, 1 2 815 40 25 7 815 40 25 10. not 470 20, The Company incurred approximately $4.1 million in transaction costs in connection with the issuance of the Notes. These costs were recognized as a reduction of the carrying amount of the Notes utilizing the effective interest method and are being amortized over the term of the Notes. The following table sets forth interest expense information related to the Notes (in thousands): Three months ended March 31, 2023 2022 Contractual interest expense $ 1,006 $ 1,006 Amortization of debt issuance costs 204 204 Total interest cost $ 1,210 $ 1,210 Effective interest rate 5.1 % 5.1 % |
Note 13 - Accrued Liabilities
Note 13 - Accrued Liabilities | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Note 13. Accrued liabilities consisted of the following for the periods indicated (in thousands): March 31, 2023 December 31, 2022 Accrued payroll $ 6,952 $ 9,702 Accrued employee benefits 3,208 3,265 Accrued state and local taxes 570 588 Accrued interest 635 1,597 Accrued shipping and tariff expenses 2 — Advanced payments 200 216 Accrued commission expenses 940 937 Accrued professional fees 207 409 Accrued product warranty 125 140 Accrued capital expenditure 20 — Accrued other 646 368 Total accrued liabilities $ 13,505 $ 17,222 |
Note 14 - Other Income and Expe
Note 14 - Other Income and Expense | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | Note 14. Other income and (expense) consisted of the following for the periods indicated (in thousands): Three months ended March 31, 2023 2022 Foreign exchange transaction gain (loss) $ (237 ) $ (523 ) Government subsidy income 118 18 Other non-operating gain 101 16 Gain (loss) on disposal of assets (3 ) 39 Total other income (expenses) , net $ (21 ) $ (450 ) |
Note 15 - Share-based Compensat
Note 15 - Share-based Compensation | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 15. Equity Plans The Company’s board of directors and stockholders approved the following equity plans: ● the 2013 “2013 ● the 2021 “2021 The Company issued stock options, restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) to employees, consultants and non-employee directors. Stock option awards generally vest over a four ten may September 2013, third Stock Options Options have been granted to the Company’s employees under the two first ten The following is a summary of option activity: Weighted Weighted Weighted Average Average Average Share Price Weighted Remaining Aggregate Number of Exercise on Date of Average Contractual Intrinsic shares Price Exercise Fair Value Life Value (in thousands, except price data) Outstanding at January 1, 2023 263 $ 10.41 $ 5.45 0.71 $ - Exercised - - - - - Forfeited (34 ) 7.50 4.73 - - Outstanding, March 31, 2023 229 10.84 5.56 0.57 - Exercisable, March 31, 2023 229 10.84 5.56 0.57 - Vested and expected to vest 229 10.84 5.56 0.57 - As of March 31, 2023 Performance Based Incentive Plan June 2021. three third . The Company recognized three March 31, 2023 2022 The following is a summary of PSU activity: Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2023 766 $ 6.75 $ 1,447 Granted 0 0 0 Released 0 0 0 Cancelled/Forfeited 0 0 0 Outstanding, March 31, 2023 766 6.75 1,692 Vested and expected to vest 766 6.75 1,692 As of March 31, 2023 $2.4 million 1.4 years Restricted Stock Units The following is a summary of RSU activity: Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2023 2,210 $ 5.76 $ 4,175 Granted 27 2.70 73 Released (326 ) 6.94 765 Cancelled/Forfeited (47 ) 3.78 103 Outstanding, March 31, 2023 1,864 5.56 4,120 Vested and expected to vest 1,864 5.56 4,120 As of March 31, 2023 $9.1 million 1.9 years Share-Based Compensation Employee share-based compensation expenses recognized for the periods indicated (in thousands): Three months ended March 31, 2023 2022 Share-based compensation - by expense type Cost of goods sold $ 114 $ 136 Research and development 297 365 Sales and marketing 195 226 General and administrative 1,684 1,745 Total share-based compensation expense $ 2,290 $ 2,472 |
Note 16 - Income Taxes
Note 16 - Income Taxes | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 16. The Company’s effective tax rate for the three March 31, 2023 2022 three March 31, 2023 2022, 21% The Company continually monitors and performs an assessment of the realizability of its DTAs, including an analysis of factors such as future taxable income, reversal of existing taxable temporary differences, and tax planning strategies. In assessing the need for a valuation allowance, the Company considered both positive and negative evidence related to the likelihood of realization of deferred tax assets using a “more likely than not” March 31, 2023 |
Note 17 - Geographic Informatio
Note 17 - Geographic Information | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 17. The Company operates in one reportable segment. The Company’s Chief Executive Officer, who is considered to be the chief operating decision maker, manages the Company’s operations as a whole and reviews financial information presented on a consolidated basis, accompanied by information about product revenue, for purposes of evaluating financial performance and allocating resources. The following tables set forth the Company’s revenue and asset information by geographic region. Revenue is classified based on the location of where the product is manufactured. Long-lived assets in the tables below comprise only property, plant, equipment and intangible assets (in thousands): Three months ended March 31, 2023 2022 Revenues: United States $ 6,439 $ 2,559 Taiwan 42,386 27,779 China 4,205 21,904 $ 53,030 $ 52,242 As of the period ended March 31, December 31, 2023 2022 Long-lived assets: United States $ 78,048 $ 80,048 Taiwan 49,628 50,777 China 93,828 93,888 $ 221,504 $ 224,713 |
Note 18 - Contingencies
Note 18 - Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 18. Litigation Overview From time to time, the Company may not The Company believes that there are no Other Contingencies On August 9, 2021, 2016 2019, not May 2021, April 2023 |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 19. T April 3, 2023. In April 2023, May 2023 January 1, 2020 December 21, 2022. not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Yet to be Adopted To date, there have been no not |
Note 3 - Revenue Recognition (T
Note 3 - Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended March 31, % of % of 2023 Revenue 2022 Revenue CATV $ 27,779 52.4 % $ 24,980 47.8 % Data Center 20,353 38.4 % 21,415 41.0 % Telecom 3,707 7.0 % 5,265 10.1 % FTTH 2 0.0 % 98 0.2 % Other 1,189 2.2 % 484 0.9 % Total Revenue $ 53,030 100.0 % $ 52,242 100.0 % |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three months ended March 31, 2023 2022 Operating lease expense $ 282 $ 306 Financing lease expense 8 8 Short Term lease expense 3 3 Total lease expense $ 293 $ 317 |
Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block] | Operating Financing 2023 1,221 60 2024 1,136 - 2025 1,151 - 2026 1,076 - 2027 1,099 - 2028 and thereafter 1,289 - Total lease payments 6,971 60 Less imputed interest (629 ) (2 ) Present value 6,342 58 Three months ended March 31, 2023 2022 Weighted Average Remaining Lease Term (Years) - operating leases 5.96 6.91 Weighted Average Remaining Lease Term (Years) - financing leases 0.58 1.58 Weighted Average Discount Rate - operating leases 3.20 % 3.22 % Weighted Average Discount Rate - financing leases 5.00 % 5.00 % Three months ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 309 314 Operating cash flows from financing lease 1 1 Financing cash flows from financing lease 5 5 |
Note 5 - Cash, Cash Equivalen_2
Note 5 - Cash, Cash Equivalents and Restricted Cash (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | March 31, December 31, 2023 2022 Cash and cash equivalents $ 16,103 $ 24,685 Restricted cash 10,845 10,902 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 26,948 $ 35,587 |
Note 6 - Earnings (Loss) Per _2
Note 6 - Earnings (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2023 2022 Numerator: Net loss $ (16,292 ) $ (16,062 ) Denominator: Weighted average shares used to compute net loss per share Basic 28,872 27,463 Diluted 28,872 27,463 Net loss per share Basic $ (0.56 ) $ (0.58 ) Diluted $ (0.56 ) $ (0.58 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three months ended March 31, 2023 2022 Employee stock options — __ Restricted stock units 458 __ Shares for convertible senior notes 4,587 4,587 Total antidilutive shares 5,045 4,587 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2023 December 31, 2022 Raw materials $ 21,315 $ 25,732 Work in process and sub-assemblies 33,614 39,563 Finished goods 15,257 14,384 Total inventories $ 70,186 $ 79,679 |
Note 8 - Property, Plant and _2
Note 8 - Property, Plant and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, 2023 December 31, 2022 Land improvements $ 806 $ 806 Buildings and improvements 86,889 86,372 Machinery and equipment 252,892 251,216 Furniture and fixtures 5,434 5,382 Computer equipment and software 11,815 11,713 Transportation equipment 686 679 358,522 356,168 Less accumulated depreciation and amortization (183,003 ) (177,519 ) 175,519 178,649 Construction in progress 30,551 30,434 Land 1,101 1,101 Total property, plant and equipment, net $ 207,171 $ 210,184 |
Note 9 - Intangible Assets, N_2
Note 9 - Intangible Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | March 31, 2023 Gross Accumulated Intangible Amount amortization assets, net Patents $ 9,111 $ (5,493 ) $ 3,618 Trademarks 60 (23 ) 37 Total intangible assets $ 9,171 $ (5,516 ) $ 3,655 December 31, 2022 Gross Accumulated Intangible Amount amortization assets, net Patents $ 8,994 $ (5,330 ) $ 3,664 Trademarks 56 (21 ) 35 Total intangible assets $ 9,050 $ (5,351 ) $ 3,699 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2023 477 2024 636 2025 636 2026 636 2027 636 2028 and thereafter 634 3,655 |
Note 11 - Notes Payable and L_2
Note 11 - Notes Payable and Long-term Debt (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, 2023 December 31, 2022 Revolving line of credit with a U.S. bank up to $ 27.780 9.663 12/14/2023 11/16/2025 20,520 25,000 Revolving line of credit with a China bank up to $ 19,037 4.57 6.12 May 24, 2024 12,918 13,102 Credit facility with a China bank up to $ 26,651 4.45 6.6 June 6, 2027 17,828 20,140 Credit facility with a China bank up to $ 728 2.7 November 23, 2023 728 - Sub-total 51,994 58,242 Less debt issuance costs, net (1,073 ) (1,168 ) Grand total 50,921 57,074 Less current portion (50,921 ) (57,074 ) Non-current portion $ - $ - Bank Acceptance Notes Payable Bank acceptance notes issued to vendors with a zero percent interest rate $ 19,196 $ 12,337 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Within one year $ 50,921 Beyond one year - Total outstanding $ 50,921 |
Note 12 - Convertible Senior _2
Note 12 - Convertible Senior Notes (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Convertible Debt [Table Text Block] | March 31, December 31, 2023 2022 Principal $ 80,500 $ 80,500 Unamortized debt issuance costs (790 ) (994 ) Net carrying amount $ 79,710 $ 79,506 |
Interest Income and Interest Expense Disclosure [Table Text Block] | Three months ended March 31, 2023 2022 Contractual interest expense $ 1,006 $ 1,006 Amortization of debt issuance costs 204 204 Total interest cost $ 1,210 $ 1,210 Effective interest rate 5.1 % 5.1 % |
Note 13 - Accrued Liabilities (
Note 13 - Accrued Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2023 December 31, 2022 Accrued payroll $ 6,952 $ 9,702 Accrued employee benefits 3,208 3,265 Accrued state and local taxes 570 588 Accrued interest 635 1,597 Accrued shipping and tariff expenses 2 — Advanced payments 200 216 Accrued commission expenses 940 937 Accrued professional fees 207 409 Accrued product warranty 125 140 Accrued capital expenditure 20 — Accrued other 646 368 Total accrued liabilities $ 13,505 $ 17,222 |
Note 14 - Other Income and Ex_2
Note 14 - Other Income and Expense (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three months ended March 31, 2023 2022 Foreign exchange transaction gain (loss) $ (237 ) $ (523 ) Government subsidy income 118 18 Other non-operating gain 101 16 Gain (loss) on disposal of assets (3 ) 39 Total other income (expenses) , net $ (21 ) $ (450 ) |
Note 15 - Share-based Compens_2
Note 15 - Share-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Weighted Average Average Average Share Price Weighted Remaining Aggregate Number of Exercise on Date of Average Contractual Intrinsic shares Price Exercise Fair Value Life Value (in thousands, except price data) Outstanding at January 1, 2023 263 $ 10.41 $ 5.45 0.71 $ - Exercised - - - - - Forfeited (34 ) 7.50 4.73 - - Outstanding, March 31, 2023 229 10.84 5.56 0.57 - Exercisable, March 31, 2023 229 10.84 5.56 0.57 - Vested and expected to vest 229 10.84 5.56 0.57 - |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2023 766 $ 6.75 $ 1,447 Granted 0 0 0 Released 0 0 0 Cancelled/Forfeited 0 0 0 Outstanding, March 31, 2023 766 6.75 1,692 Vested and expected to vest 766 6.75 1,692 Weighted Average Share Weighted Aggregate Number of Price on Date Average Fair Intrinsic shares of Release Value Value (in thousands, except price data) Outstanding at January 1, 2023 2,210 $ 5.76 $ 4,175 Granted 27 2.70 73 Released (326 ) 6.94 765 Cancelled/Forfeited (47 ) 3.78 103 Outstanding, March 31, 2023 1,864 5.56 4,120 Vested and expected to vest 1,864 5.56 4,120 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended March 31, 2023 2022 Share-based compensation - by expense type Cost of goods sold $ 114 $ 136 Research and development 297 365 Sales and marketing 195 226 General and administrative 1,684 1,745 Total share-based compensation expense $ 2,290 $ 2,472 |
Note 17 - Geographic Informat_2
Note 17 - Geographic Information (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three months ended March 31, 2023 2022 Revenues: United States $ 6,439 $ 2,559 Taiwan 42,386 27,779 China 4,205 21,904 $ 53,030 $ 52,242 |
Long-Lived Assets by Geographic Areas [Table Text Block] | As of the period ended March 31, December 31, 2023 2022 Long-lived assets: United States $ 78,048 $ 80,048 Taiwan 49,628 50,777 China 93,828 93,888 $ 221,504 $ 224,713 |
Note 1 - Description of Busin_2
Note 1 - Description of Business (Details Textual) - Manufacturing Facilities in PRC [Member] - Yuhan Optoelectronic Technology Co., Ltd [Member] $ in Millions | Sep. 15, 2022 USD ($) |
Disposal Group, Including Discontinued Operation, Consideration | $ 150 |
Business Divestiture, Percentage of Equity Interests Exchanged | 10% |
Minimum [Member] | |
Percentage of Estimated Proceeds From Divestiture of Business | 4% |
Maximum [Member] | |
Percentage of Estimated Proceeds From Divestiture of Business | 10% |
Note 3 - Revenue Recognition -
Note 3 - Revenue Recognition - Revenue by Major Product Category (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue, net | $ 53,030 | $ 52,242 |
Percent of Revenue | 100% | 100% |
CATV [Member] | ||
Revenue, net | $ 27,779 | $ 24,980 |
Percent of Revenue | 52.40% | 47.80% |
Data Center [Member] | ||
Revenue, net | $ 20,353 | $ 21,415 |
Percent of Revenue | 38.40% | 41% |
Telecom [Member] | ||
Revenue, net | $ 3,707 | $ 5,265 |
Percent of Revenue | 7% | 10.10% |
FTTH [Member] | ||
Revenue, net | $ 2 | $ 98 |
Percent of Revenue | 0% | 0.20% |
Product and Service, Other [Member] | ||
Revenue, net | $ 1,189 | $ 484 |
Percent of Revenue | 2.20% | 0.90% |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Lease, Cost | $ 293 | $ 317 |
Selling, General and Administrative Expenses [Member] | ||
Lease, Cost | $ 300 | $ 300 |
Note 4 - Leases - Components of
Note 4 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating lease expense | $ 282 | $ 306 |
Financing lease expense | 8 | 8 |
Short Term lease expense | 3 | 3 |
Total lease expense | $ 293 | $ 317 |
Note 4 - Leases - Maturities of
Note 4 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
2023, Operating Lease | $ 1,221 | |
2023, Financing Lease | 60 | |
2024, Operating Lease | 1,136 | |
2024, Financing Lease | 0 | |
2025, Operating Lease | 1,151 | |
2025, Financing Lease | 0 | |
2026, Operating Lease | 1,076 | |
2026, Financing Lease | 0 | |
2027, Operating Lease | 1,099 | |
2027, Financing Lease | 0 | |
2028 and thereafter, Operating Lease | 1,289 | |
2028 and thereafter, Financing Lease | 0 | |
Total operating lease payments | 6,971 | |
Total financing lease payments, finance leases | 60 | |
Less imputed interest, operating leases | (629) | |
Less imputed interest, financing leases | (2) | |
Present value, operating leases | 6,342 | |
Present value, financing leases | $ 58 | |
Weighted Average Remaining Lease Term (Years) - operating leases (Year) | 5 years 11 months 15 days | 6 years 10 months 28 days |
Weighted Average Remaining Lease Term (Years) - financing leases (Year) | 6 months 29 days | 1 year 6 months 29 days |
Weighted Average Discount Rate - operating leases | 3.20% | 3.22% |
Weighted Average Discount Rate - financing leases | 5% | 5% |
Operating cash flows from operating leases | $ 309 | $ 314 |
Operating cash flows from financing lease | 1 | 1 |
Financing cash flows from financing lease | $ 5 | $ 5 |
Note 5 - Cash, Cash Equivalen_3
Note 5 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Restricted Cash and Cash Equivalents, Current | $ 10,845 | $ 10,902 |
CHINA | ||
Certificates of Deposit, at Carrying Value | 1,000 | 1,100 |
Bankers Acceptance [Member] | ||
Restricted Cash and Cash Equivalents, Current | 8,400 | 8,700 |
Guarantee Deposits for Customs Duties [Member] | ||
Restricted Cash and Cash Equivalents, Current | $ 1,400 | $ 1,000 |
Note 5 - Cash, Cash Equivalen_4
Note 5 - Cash, Cash Equivalents and Restricted Cash - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Cash and cash equivalents | $ 16,103 | $ 24,685 |
Restricted cash | 10,845 | 10,902 |
Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $ 26,948 | $ 35,587 |
Note 6 - Earnings (Loss) Per _3
Note 6 - Earnings (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net loss | $ (16,292) | $ (16,062) |
Basic (in shares) | 28,871,857 | 27,463,321 |
Diluted (in shares) | 28,871,857 | 27,463,321 |
Basic (in dollars per share) | $ (0.56) | $ (0.58) |
Diluted (in dollars per share) | $ (0.56) | $ (0.58) |
Note 6 - Earnings (Loss) Per _4
Note 6 - Earnings (Loss) Per Share - Potentially Dilutive Securities Excluded from Diluted Net Income (Loss) per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Total antidilutive share (in shares) | 5,045 | 4,587 |
Restricted Stock Units (RSUs) [Member] | ||
Total antidilutive share (in shares) | 458 | |
Convertible Debt Securities [Member] | ||
Total antidilutive share (in shares) | 4,587 | 4,587 |
Note 7 - Inventories (Details T
Note 7 - Inventories (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Inventory, LIFO Reserve, Period Charge | $ 2,588 | $ 2,037 |
Inventory Write-down | $ 3,800 | $ 1,000 |
Note 7 - Inventories - Inventor
Note 7 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Raw materials | $ 21,315 | $ 25,732 |
Work in process and sub-assemblies | 33,614 | 39,563 |
Finished goods | 15,257 | 14,384 |
Total inventories | $ 70,186 | $ 79,679 |
Note 8 - Property, Plant and _3
Note 8 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Depreciation | $ 5,200 | $ 6,000 |
Interest Paid, Capitalized, Investing Activities | $ 0 | $ 100 |
Note 8 - Property, Plant and _4
Note 8 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Property, plant and equipment, gross | $ 358,522 | $ 356,168 |
Less accumulated depreciation and amortization | (183,003) | (177,519) |
Property, plant and equipment, net before construction in progress and land | 175,519 | 178,649 |
Property, plant and equipment, net | 207,171 | 210,184 |
Land Improvements [Member] | ||
Property, plant and equipment, gross | 806 | 806 |
Building and Building Improvements [Member] | ||
Property, plant and equipment, gross | 86,889 | 86,372 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | 252,892 | 251,216 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 5,434 | 5,382 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment, gross | 11,815 | 11,713 |
Vehicles [Member] | ||
Property, plant and equipment, gross | 686 | 679 |
Construction in Progress [Member] | ||
Property, plant and equipment, net | 30,551 | 30,434 |
Land [Member] | ||
Property, plant and equipment, net | $ 1,101 | $ 1,101 |
Note 9 - Intangible Assets, N_3
Note 9 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Amortization of Intangible Assets | $ 0.2 | $ 0.2 |
Finite-Lived Intangible Assets, Remaining Amortization Period (Year) | 5 years 8 months 12 days |
Note 9 - Intangible Assets, N_4
Note 9 - Intangible Assets, Net - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Intangible assets, gross amount | $ 9,171 | $ 9,050 |
Intangible assets, accumulated amortization | (5,516) | (5,351) |
Intangible assets, net | 3,655 | 3,699 |
Patents [Member] | ||
Intangible assets, gross amount | 9,111 | 8,994 |
Intangible assets, accumulated amortization | (5,493) | (5,330) |
Intangible assets, net | 3,618 | 3,664 |
Trademarks [Member] | ||
Intangible assets, gross amount | 60 | 56 |
Intangible assets, accumulated amortization | (23) | (21) |
Intangible assets, net | $ 37 | $ 35 |
Note 9 - Intangible Assets, N_5
Note 9 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
2023 | $ 477 | |
2024 | 636 | |
2025 | 636 | |
2026 | 636 | |
2027 | 636 | |
2028 and thereafter | 634 | |
Finite-Lived Intangible Assets, Net | $ 3,655 | $ 3,699 |
Note 10 - Fair Value of Finan_2
Note 10 - Fair Value of Financial Instruments (Details Textual) - Senior Notes [Member] - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Convertible Debt, Fair Value Disclosures | $ 60.9 | $ 58.3 |
Convertible Debt | $ 79.9 | $ 79.5 |
Note 11 - Notes Payable and L_3
Note 11 - Notes Payable and Long-term Debt (Details Textual) $ in Thousands | Nov. 16, 2022 USD ($) | Jun. 07, 2022 USD ($) | May 24, 2019 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 07, 2022 CNY (¥) | Mar. 31, 2022 USD ($) | May 24, 2019 CNY (¥) |
Debt Instrument, Unused Borrowing Capacity, Amount | $ 19,400 | $ 13,300 | ||||||
Cash Collateral for Borrowed Securities | 9,400 | $ 9,900 | ||||||
Revolving Credit Facility [Member] | CIT Northbridge Credit, LLC [Member] | Loan Security and Guarantee Agreement [Member] | ||||||||
Debt Instrument, Term (Year) | 3 years | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 27,780 | 27,780 | $ 27,780 | |||||
Long-Term Line of Credit | 20,500 | |||||||
Revolving Credit Facility [Member] | CIT Northbridge Credit, LLC [Member] | Loan Security and Guarantee Agreement [Member] | Secured Overnight Financing Rate (SOFR) [Member] | ||||||||
Debt Instrument, Basis Spread on Variable Rate, Monthly Usage Less Than 50 Percentage | 3.75% | |||||||
Debt Instrument, Basis Spread on Variable Rate | 4.75% | |||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 19,037 | $ 19,037 | ||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD Credit Line [Member] | Global Technology, Inc. [Member] | ||||||||
Debt Instrument, Term (Year) | 5 years | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,400 | ¥ 180,000,000 | ||||||
Revolving Credit Facility [Member] | SPD Bank [Member] | The SPD 2.0M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||
Long-Term Line of Credit | 12,900 | |||||||
Bank Acceptances Executed | 14,000 | |||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 728 | |||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||
Debt Instrument, Term (Year) | 5 years | |||||||
Revolving Credit Facility [Member] | China Zheshang Bank Co., Ltd [Member] | The ¥200M Credit Facility [Member] | Global Technology, Inc. [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 29,900 | ¥ 200,000,000 | ||||||
Long-Term Line of Credit | 17,800 | |||||||
Bank Acceptances Executed | $ 5,200 |
Note 11 - Notes Payable and L_4
Note 11 - Notes Payable and Long-term Debt - Schedule of Notes Payable and Long-term Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Long-term debt | $ 51,994 | $ 58,242 | |
Less debt issuance costs, net | (1,073) | (1,168) | |
Grand total | 50,921 | 57,074 | |
Less current portion | (50,921) | (57,074) | |
Non-current portion | 0 | 0 | |
Bank acceptance notes issued to vendors with a zero percent interest rate | 19,196 | $ 12,337 | 12,337 |
CIT Northbridge Credit, LLC [Member] | Revolving Credit Facility [Member] | Loan Security and Guarantee Agreement [Member] | |||
Long-term debt | 20,520 | 25,000 | |
SPD Bank [Member] | Revolving Credit Facility [Member] | |||
Long-term debt | 12,918 | 13,102 | |
China Zheshang Bank Co., Ltd [Member] | Revolving Credit Facility [Member] | The ¥100M Credit Facility [Member] | |||
Long-term debt | 17,828 | 20,140 | |
China Zheshang Bank Co., Ltd [Member] | Revolving Credit Facility [Member] | The ¥50M Credit Facility [Member] | |||
Long-term debt | $ 728 | $ 0 |
Note 11 - Notes Payable and L_5
Note 11 - Notes Payable and Long-term Debt - Schedule of Notes Payable and Long-term Debt (Details) (Parentheticals) - Revolving Credit Facility [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Nov. 16, 2022 | |
CIT Northbridge Credit, LLC [Member] | Loan Security and Guarantee Agreement [Member] | |||
Long-term debt, maximum | $ 27,780 | $ 27,780 | $ 27,780 |
Long-term debt, interest | 9.663% | 9.663% | |
Long-term debt, start maturity date | Dec. 14, 2023 | Dec. 14, 2023 | |
Long-term debt, end maturity date | Nov. 16, 2025 | Nov. 16, 2025 | |
SPD Bank [Member] | |||
Long-term debt, maximum | $ 19,037 | $ 19,037 | |
Long-term debt, maturity date | May 24, 2024 | May 24, 2024 | |
SPD Bank [Member] | Minimum [Member] | |||
Long-term debt, interest | 4.57% | 4.57% | |
SPD Bank [Member] | Maximum [Member] | |||
Long-term debt, interest | 6.12% | 6.12% | |
China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | |||
Long-term debt, maximum | $ 26,651 | $ 26,651 | |
Long-term debt, maturity date | Jun. 06, 2027 | Jun. 06, 2027 | |
China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | Minimum [Member] | |||
Long-term debt, interest | 4.45% | 4.45% | |
China Zheshang Bank Co., Ltd [Member] | The ¥100M Credit Facility [Member] | Maximum [Member] | |||
Long-term debt, interest | 6.60% | 6.60% | |
China Zheshang Bank Co., Ltd [Member] | The ¥50M Credit Facility [Member] | |||
Long-term debt, maximum | $ 728 | ||
Long-term debt, interest | 2.70% | ||
Long-term debt, maturity date | Nov. 23, 2023 |
Note 11 - Notes Payable and L_6
Note 11 - Notes Payable and Long-term Debt - Maturities of Notes Payable and Long-term Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Mar. 31, 2022 |
Within one year | $ 50,921 | |
Beyond one year | 0 | |
Total outstanding | $ 50,921 | $ 57,074 |
Note 12 - Convertible Senior _3
Note 12 - Convertible Senior Notes (Details Textual) - USD ($) | Mar. 05, 2019 | Mar. 31, 2023 | Dec. 31, 2022 |
Truist Bank [Member] | CapEx Loan and Term Loan [Member] | |||
Repayments of Long-term Debt, Total | $ 37,800,000 | ||
The 5% Convertible Senior Notes Due 2024 [Member] | |||
Debt Instrument, Face Amount | $ 80,500,000 | $ 80,500,000 | $ 80,500,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5% | ||
Proceeds from Convertible Debt | $ 76,400,000 | ||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 56.9801 | ||
Debt Conversion, Converted Instrument, Amount | $ 1,000 | ||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 17.55 | ||
Debt Instrument, Convertible, Conversion Price Premium, Percentage | 30% | ||
Share Price (in dollars per share) | $ 13.50 | ||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130% | ||
Debt Instrument, Convertible, Threshold Trading Days | 20 | ||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 | ||
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 100% | ||
Debt Issuance Costs, Gross | $ 4,100,000 |
Note 12 - Convertible Senior _4
Note 12 - Convertible Senior Notes - Schedule of Carrying Value of Convertible Senior Notes (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 05, 2019 |
Net carrying amount | $ 0 | $ 79,506 | |
The 5% Convertible Senior Notes Due 2024 [Member] | |||
Principal | 80,500 | 80,500 | $ 80,500 |
Unamortized debt issuance costs | (790) | (994) | |
Net carrying amount | $ 79,710 | $ 79,506 |
Note 12 - Convertible Senior _5
Note 12 - Convertible Senior Notes - Schedule of Interest Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Amortization of debt issuance costs | $ 306 | $ 211 |
The 5% Convertible Senior Notes Due 2024 [Member] | ||
Contractual interest expense | 1,006 | 1,006 |
Amortization of debt issuance costs | 204 | 204 |
Total interest cost | $ 1,210 | $ 1,210 |
Effective interest rate | 5.10% | 5.10% |
Note 13 - Accrued Liabilities -
Note 13 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Accrued payroll | $ 6,952 | $ 9,702 |
Accrued employee benefits | 3,208 | 3,265 |
Accrued state and local taxes | 570 | 588 |
Accrued interest | 635 | 1,597 |
Accrued shipping and tariff expenses | 2 | 0 |
Advanced payments | 200 | 216 |
Accrued commission expenses | 940 | 937 |
Accrued professional fees | 207 | 409 |
Accrued product warranty | 125 | 140 |
Accrued capital expenditure | 20 | 0 |
Accrued other | 646 | 368 |
Total accrued liabilities | $ 13,505 | $ 17,222 |
Note 14 - Other Income and Ex_3
Note 14 - Other Income and Expense - Other Income and Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Foreign exchange transaction gain (loss) | $ (237) | $ (523) |
Government subsidy income | 118 | 18 |
Other non-operating gain | 101 | 16 |
Gain (loss) on disposal of assets | (3) | 39 |
Total other income (expenses) , net | $ (21) | $ (450) |
Note 15 - Share-based Compens_3
Note 15 - Share-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 | |
Share-Based Payment Arrangement, Expense | $ 2,290 | $ 2,472 |
Share-Based Payment Arrangement, Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |
Share-Based Payment Arrangement, Option [Member] | Exercisable on the First Anniversary Date Following the Date of Grant [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25% | |
Share-Based Payment Arrangement, Option [Member] | Exercisable on Semi-annual Basis [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 12.50% | |
Performance Shares [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 2,400 | |
Share-Based Payment Arrangement, Expense | $ 400 | $ 300 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 4 months 24 days | |
Performance Shares [Member] | Minimum [Member] | ||
Sharebased Compensation Arrangement By Sharebased Payment Award Performance Award Value Percentage Of Based Amount | 0% | |
Performance Shares [Member] | Maximum [Member] | ||
Sharebased Compensation Arrangement By Sharebased Payment Award Performance Award Value Percentage Of Based Amount | 200% | |
Performance Shares [Member] | Vesting on the Third Anniversary [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100% | |
Restricted Stock Units (RSUs) [Member] | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | |
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 9,100 |
Note 15 - Share-based Compens_4
Note 15 - Share-based Compensation - Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Outstanding, number of shares (in shares) | 263 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.41 | |
Outstanding, weighted average fair value (in dollars per share) | $ 5.45 | |
Outstanding, weighted average remaining contractual life (Year) | 6 months 25 days | 8 months 15 days |
Outstanding, aggregate intrinsic value | $ 0 | |
Exercised, number of shares (in shares) | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Exercised, weighted average fair value (in dollars per share) | $ 0 | |
Exercised, aggregate intrinsic value | $ 0 | |
Forfeited, number of shares (in shares) | (34) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 7.50 | |
Forfeited, weighted average fair value (in dollars per share) | $ 4.73 | |
Forfeited, aggregate intrinsic value | $ 0 | |
Outstanding, number of shares (in shares) | 229 | 263 |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.84 | $ 10.41 |
Outstanding, weighted average fair value (in dollars per share) | $ 5.56 | $ 5.45 |
Exercisable, number of shares (in shares) | 229 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 10.84 | |
Exercisable, weighted average fair value (in dollars per share) | $ 5.56 | |
Exercisable, weighted average remaining contractual life (Year) | 6 months 25 days | |
Exercisable, aggregate intrinsic value | $ 0 | |
Vested and expected to vest, number of shares (in shares) | 229 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 10.84 | |
Vested and expected to vest, weighted average fair value (in dollars per share) | $ 5.56 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 6 months 25 days | |
Vested and expected to vest, aggregate intrinsic value | $ 0 |
Note 15 - Share-based Compens_5
Note 15 - Share-based Compensation - Restricted Stock Unit/Awards Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended |
Mar. 31, 2023 USD ($) $ / shares shares | |
Performance Shares [Member] | |
Outstanding, number of shares (in shares) | shares | 766 |
Outstanding, weighted average fair value (in dollars per share) | $ / shares | $ 6.75 |
Outstanding, aggregate intrinsic value | $ | $ 1,447 |
Granted, number of shares (in shares) | shares | 0 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 0 |
Granted, aggregate intrinsic value | $ | $ 0 |
Released, number of shares (in shares) | shares | 0 |
Released, weighted average fair value (in dollars per share) | $ / shares | $ 0 |
Released, aggregate intrinsic value | $ | $ 0 |
Cancelled/Forfeited, number of shares (in shares) | shares | 0 |
Cancelled/Forfeited, weighted average fair value (in dollars per share) | $ / shares | $ 0 |
Cancelled/Forfeited, aggregate intrinsic value | $ | $ 0 |
Outstanding, number of shares (in shares) | shares | 766 |
Outstanding, weighted average fair value (in dollars per share) | $ / shares | $ 6.75 |
Outstanding, aggregate intrinsic value | $ | $ 1,692 |
Vested and expected to vest, number of shares (in shares) | shares | 766 |
Vested and expected to vest, weighted average fair value (in dollars per share) | $ / shares | $ 6.75 |
Vested and expected to vest, aggregate intrinsic value | $ | $ 1,692 |
Restricted Stock Units (RSUs) [Member] | |
Outstanding, number of shares (in shares) | shares | 2,210 |
Outstanding, weighted average fair value (in dollars per share) | $ / shares | $ 5.76 |
Outstanding, aggregate intrinsic value | $ | $ 4,175 |
Granted, number of shares (in shares) | shares | 27 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 2.70 |
Granted, aggregate intrinsic value | $ | $ 73 |
Released, number of shares (in shares) | shares | (326) |
Released, weighted average fair value (in dollars per share) | $ / shares | $ 6.94 |
Released, aggregate intrinsic value | $ | $ 765 |
Cancelled/Forfeited, number of shares (in shares) | shares | (47) |
Cancelled/Forfeited, weighted average fair value (in dollars per share) | $ / shares | $ 3.78 |
Cancelled/Forfeited, aggregate intrinsic value | $ | $ 103 |
Outstanding, number of shares (in shares) | shares | 1,864 |
Outstanding, weighted average fair value (in dollars per share) | $ / shares | $ 5.56 |
Outstanding, aggregate intrinsic value | $ | $ 4,120 |
Vested and expected to vest, number of shares (in shares) | shares | 1,864 |
Vested and expected to vest, weighted average fair value (in dollars per share) | $ / shares | $ 5.56 |
Vested and expected to vest, aggregate intrinsic value | $ | $ 4,120 |
Note 15 - Share-based Compens_6
Note 15 - Share-based Compensation - Share-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Total share-based compensation expense | $ 2,290 | $ 2,472 |
Cost of Sales [Member] | ||
Total share-based compensation expense | 114 | 136 |
Research and Development Expense [Member] | ||
Total share-based compensation expense | 297 | 365 |
Selling and Marketing Expense [Member] | ||
Total share-based compensation expense | 195 | 226 |
General and Administrative Expense [Member] | ||
Total share-based compensation expense | $ 1,684 | $ 1,745 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 0% | 0% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% |
Note 17 - Geographic Informat_3
Note 17 - Geographic Information (Details Textual) | 3 Months Ended |
Mar. 31, 2023 | |
Number of Reportable Segments | 1 |
Note 17 - Geographic Informat_4
Note 17 - Geographic Information - Revenue Information by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue, net | $ 53,030 | $ 52,242 |
UNITED STATES | ||
Revenue, net | 6,439 | 2,559 |
TAIWAN | ||
Revenue, net | 42,386 | 27,779 |
CHINA | ||
Revenue, net | $ 4,205 | $ 21,904 |
Note 17 - Geographic Informat_5
Note 17 - Geographic Information - Asset Information by Geographic Region (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Long-lived assets | $ 221,504 | $ 224,713 |
UNITED STATES | ||
Long-lived assets | 78,048 | 80,048 |
TAIWAN | ||
Long-lived assets | 49,628 | 50,777 |
CHINA | ||
Long-lived assets | $ 93,828 | $ 93,888 |
Note 18 - Contingencies (Detail
Note 18 - Contingencies (Details Textual) - Loss Contingency, Obligation for Sales and Use Tax [Member] $ in Millions | Aug. 09, 2021 USD ($) |
Loss Contingency, Potential Obligation | $ 1 |
Loss Contingency Accrual, Payments | $ 0.4 |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) $ in Millions | Apr. 03, 2022 USD ($) |
CIT Northbridge Credit, LLC [Member] | |
Repayments of Debt | $ 2 |