Airgain (AIRG) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Feb. 20, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Trading Symbol	AIRG
Entity Registrant Name	AIRGAIN, INC.
Entity Central Index Key	0001272842
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Financial Statement Error Correction [Flag]	false
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity File Number	001-37851
Entity Tax Identification Number	95-4523882
Entity Address, Address Line One	3611 Valley Centre Drive
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	760
Local Phone Number	579-0200
Entity Common Stock, Shares Outstanding		11,558,901
Entity Public Float			$ 67.4
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	Certain sections of the Registrant’s definitive proxy statement for the 2023 annual meeting of stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after end of the fiscal year covered by this Form 10-K are incorporated by reference into Part III of this Form 10-K
Auditor Name	GRANT THORNTON LLP
Auditor Location	San Diego, California
Auditor Firm ID	248
Auditor Opinion	Opinion on the financial statements We have audited the accompanying consolidated balance sheets of Airgain, Inc. (a Delaware corporation) and subsidiaries (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of operations, comprehensive loss, stockholders’ equity, and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024 , in conformity with accounting principles generally accepted in the United States of America.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 8,510	$ 7,881
Trade accounts receivable, net	11,671	7,375
Inventories	3,952	2,403
Prepaid expenses and other current assets	1,698	1,422
Total current assets	25,831	19,081
Property and equipment, net	1,993	2,507
Leased right-of-use assets	3,901	1,392
Goodwill	10,845	10,845
Intangible assets, net	5,799	8,234
Other assets	74	170
Total assets	48,443	42,229
Current liabilities:
Accounts payable	9,499	6,472
Accrued compensation	2,041	728
Accrued liabilities and other	1,872	1,926
Short-term lease liabilities	89	865
Total current liabilities	13,501	9,991
Deferred tax liability	163	151
Long-term lease liabilities	3,810	674
Total liabilities	17,474	10,816
Commitments and contingencies (Note 13)
Stockholders' equity:
Common stock and additional paid-in capital, par value $0.0001, 200,000 shares authorized; 12,070 shares issued and 11,529 shares outstanding at December 31, 2024; and 11,010 shares issued and 10,469 shares outstanding at December 31, 2023	123,546	115,295
Treasury stock, at cost: 541 shares at December 31, 2024 and 2023	(5,364)	(5,364)
Accumulated deficit	(87,209)	(78,521)
Accumulated other comprehensive (loss) income	(4)	3
Total stockholders' equity	30,969	31,413
Total liabilities and stockholders' equity	$ 48,443	$ 42,229

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	12,070,000	11,010,000
Common stock, shares outstanding	11,529,000	10,469,000
Treasury stock, shares at cost	541,000	541,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Sales	$ 60,599	$ 56,040
Cost of goods sold	35,797	35,277
Gross profit	24,802	20,763
Operating expenses:
Research and development	11,864	10,505
Sales and marketing	9,203	9,126
General and administrative	12,663	13,532
Total operating expenses	33,730	33,163
Loss from operations	(8,928)	(12,400)
Other (income) expense:
Interest income, net	(115)	(109)
Other expense, net	27	9
Total other income, net	(88)	(100)
Loss before income taxes	(8,840)	(12,300)
Income tax (benefit) expense	(152)	128
Net loss	$ (8,688)	$ (12,428)
Net loss per share:
Basic	$ (0.79)	$ (1.2)
Diluted	$ (0.79)	$ (1.2)
Weighted average shares used in calculating loss per share:
Basic	11,053	10,392
Diluted	11,053	10,392

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (8,688)	$ (12,428)
Other comprehensive income:
Foreign currency translation adjustment	(7)	3
Comprehensive loss	$ (8,695)	$ (12,425)

Statements of Stockholders' Equ

Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock and additional paid-in capital	Treasury Stock, Common [Member]	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2022	$ 39,825	$ 111,282	$ (5,364)	$ 0	$ (66,093)
Beginning balance, Shares at Dec. 31, 2022		10,767	(541)
Stock-based compensation	4,471	$ 4,471
Common stock Issued through restricted stock awards, shares		312
Common stock withheld related to net share settlement of equity awards, Share		(120)
Common stock withheld related to net share settlement of equity awards	(690)	$ (690)
Common stock issued under ESPP, Value	204	$ 204
Common stock issued under ESPP, Share		39
Common stock Issued through stock options, Share		12
Common stock Issued through stock options	28	$ 28
Foreign currency translation adjustment	3			3
Net Income (Loss)	(12,428)				(12,428)
Ending balance at Dec. 31, 2023	31,413	$ 115,295	$ (5,364)	3	(78,521)
Ending balance, Shares at Dec. 31, 2023		11,010	(541)
Stock-based compensation	3,950	$ 3,950
Common stock Issued through restricted stock awards, shares		253
Common stock withheld related to net share settlement of equity awards, Share		(25)
Common stock withheld related to net share settlement of equity awards	(94)	$ (94)
Common stock issued under ESPP, Value	152	$ 152
Common stock issued under ESPP, Share		46
Common stock Issued through stock options, Share		26
Common stock Issued through stock options	127	$ 127
Foreign currency translation adjustment	(7)			(7)
Common stock Issued in connection with at-the-market offerings, net Share		760
Common stock Issued in connection with at-the-market offerings, net Value	4,116	$ 4,116
Net Income (Loss)	(8,688)				(8,688)
Ending balance at Dec. 31, 2024	$ 30,969	$ 123,546	$ (5,364)	$ (4)	$ (87,209)
Ending balance, Shares at Dec. 31, 2024		12,070	(541)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (8,688)	$ (12,428)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	548	661
Amortization of intangible assets	3,029	2,969
Stock-based compensation	4,635	3,681
Deferred tax liability	11	12
Amortization of prepaid assets	132	0
Changes in operating assets and liabilities:
Trade accounts receivable	(4,297)	1,367
Inventories	(1,549)	1,823
Prepaid expenses and other assets	(316)	822
Other assets	96	6
Accounts payable	2,928	(93)
Accrued compensation	668	(1,253)
Accrued liabilities and other	(576)	(793)
Lease liabilities	(148)	(75)
Net cash (used in) provided by operating activities	(3,527)	(3,301)
Cash flows from investing activities:
Purchases of property and equipment	(178)	(346)
Net cash used in investing activities	(178)	(346)
Cash flows from financing activities:
Proceeds from at-the-market common stock offering, net of offering costs	4,116	0
Payments for withholding taxes related to net share settlement of equity awards	(94)	(690)
Issuance of shares for stock purchase and option plans	279	232
Net cash used in financing activities	4,301	(458)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(7)	3
Net decrease in cash, cash equivalents and restricted cash	589	(4,102)
Cash, cash equivalents, and restricted cash; beginning of period	7,976	12,078
Cash, cash equivalents, and restricted cash; end of period	8,565	7,976
Supplemental disclosure of cash flow information
Income taxes paid	50	112
Income taxes refunded	67	0
Supplemental disclosure of non-cash investing and financing activities:
Operating lease liabilities resulting from right-of-use assets	3,729	11
Accrual of property and equipment	0	58
Accrual of intellectual property	581	0
Cash and cash equivalents	8,510	7,881
Restricted cash included in other assets	55	95
Total cash, cash equivalents, and restricted cash	$ 8,565	$ 7,976

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (8,688)	$ (12,428)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	3 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management,

Cybersecurity Risk Management, Strategy, and Governance	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	ITEM 1C. CYBERSECURITY Cybersecurity Risk Management and Strategy We use the CIS benchmarks as a guideline to strengthen our cybersecurity practices. This is intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our adoption of the CIS benchmarks is a helpful baseline for potential future alignment with internationally recognized frameworks such as NIST Cybersecurity Framework, or ISO 27001. Integration with Enterprise Risk Management Our cybersecurity risk management program is integrated into our enterprise risk management framework. It shares methodologies, reporting channels, and governance processes applied across other risk domains, including legal, compliance, strategic, operational, and financial risks. Core Components of the Cybersecurity Risk Management Program Our program includes the following: • Risk Assessments: Conducting risk capacity evaluations, pressure tests, and gap analyses while formalizing risk tolerance. • Security Team: A team dedicated to managing cybersecurity risks, implementing security controls, and responding to incidents. • External Expertise: Engaging third-party providers to evaluate, test, and enhance aspects of our security controls. • Cybersecurity Awareness Training: Ongoing training for employees, incident response personnel, and senior leadership. • Third-Party Risk Management: Assessing and monitoring vendors, suppliers, and service providers to mitigate risks to our organization. Material Cybersecurity Risk Assessment We have recently completed an IT Audit of our China Office as part of our broader cybersecurity risk management efforts. This audit identified certain gaps in our systems, processes, and controls specific to our operations in China. These gaps do not indicate the presence of any known cybersecurity threats or incidents, but they highlight areas for improvement to strengthen our overall cybersecurity posture. We are actively and diligently working to address and mitigate these gaps by enhancing our security controls and aligning them with our enterprise-wide cybersecurity strategy. This proactive approach ensures that our systems remain resilient and secure in an evolving regulatory and operational environment. At this time, no cybersecurity threats or incidents have been identified that have materially affected or are reasonably likely to materially affect our operations, business strategy, results, or financial condition. Cybersecurity Governance Our board of directors considers cybersecurity risk as part of its risk oversight function and has delegated to the audit committee of our board of directors (Audit Committee) oversight of cybersecurity and other information technology risks. The Audit Committee oversees management’s implementation of our cybersecurity risk management program. Management updates the Audit Committee and executives as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. Our management team, including the CTO and IT Manager , is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our management team has several years of experience and has been trained for various roles in information technology and cybersecurity at numerous technology companies. The team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include: • Briefings from internal security personnel; • Threat intelligence and information obtained from governmental, public, or private sources, including external consultants engaged by us; and • Alerts and reports produced by security tools deployed in our IT environment.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity risk management program is integrated into our enterprise risk management framework. It shares methodologies, reporting channels, and governance processes applied across other risk domains, including legal, compliance, strategic, operational, and financial risks.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our board of directors considers cybersecurity risk as part of its risk oversight function and has delegated to the audit committee of our board of directors (Audit Committee) oversight of cybersecurity and other information technology risks. The Audit Committee oversees management’s implementation of our cybersecurity risk management program. Management updates the Audit Committee and executives as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. Our management team, including the CTO and IT Manager , is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our management team has several years of experience and has been trained for various roles in information technology and cybersecurity at numerous technology companies. The team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include: • Briefings from internal security personnel; • Threat intelligence and information obtained from governmental, public, or private sources, including external consultants engaged by us; and • Alerts and reports produced by security tools deployed in our IT environment.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our board of directors considers cybersecurity risk as part of its risk oversight function and has delegated to the audit committee of our board of directors (Audit Committee) oversight of cybersecurity and other information technology risks. The Audit Committee oversees management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Role of Management [Text Block]	Management updates the Audit Committee and executives as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. Our management team, including the CTO and IT Manager , is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our management team has several years of experience and has been trained for various roles in information technology and cybersecurity at numerous technology companies. The team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include: • Briefings from internal security personnel; • Threat intelligence and information obtained from governmental, public, or private sources, including external consultants engaged by us; and • Alerts and reports produced by security tools deployed in our IT environment.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our management team, including the CTO and IT Manager , is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our management team has several years of experience and has been trained for various roles in information technology and cybersecurity at numerous technology companies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include: • Briefings from internal security personnel; • Threat intelligence and information obtained from governmental, public, or private sources, including external consultants engaged by us; and • Alerts and reports produced by security tools deployed in our IT environment.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation Description of Business Airgain, Inc. was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delaware on August 17, 2016. Airgain, Inc. together with its subsidiaries are herein referred to as the “Company,” “we,” or “our.” Headquartered in San Diego, California, Airgain, Inc. (NASDAQ: AIRG) is a leading provider of advanced wireless connectivity solutions that drive cutting-edge innovation in 5G technology. We are committed to delivering high-performance, cost-effective, and energy-efficient wireless solutions that enable rapid market deployment. Our mission is to connect the world through integrated, innovative, and optimized wireless solutions. Our diverse product portfolio serves three primary markets: enterprise, automotive, and consumer . Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding financial reporting. The consolidated financial statements include the accounts of the Company and our wholly owned subsidiary. All intercompany transactions and investments have been eliminated in consolidation. Segment Information The Company is engaged in research and development, production, commercialization and sale of wireless connectivity solutions, offering integrated systems, embedded components, and external antennas worldwide. All of the Company’s products are manufactured by third-party contract manufacturers. Product sales for the year ended December 31, 2024 accounted for approximate 95 % of the Company’s total revenue, as compared to 5 % coming from service revenue. Due to similarities in its products, and methods of production, the Company has a single company-wide management team that administers operations on a consolidated basis. We concluded that we have only one operating and reportable segment: to provide wireless connectivity solutions. The determination of a single business segment is consistent with the consolidated financial information regularly reviewed by the Chief Operating Decision Maker (CODM), the Chief Executive Officer Jacob Suen, for the purposes of assessing performance, allocating resources and planning. The CODM regularly reviews consolidated revenue, gross margin, significant expenses, operating margin, and profit and loss. The CODM compares and analyzes the underlying determinants of the current metrics with the prior performance data and forecasts . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates . Presentation For the year ended December 31, 2024, we changed the format within the Statements of Stockholders’ Equity from the format of prior years. Without changing how the amounts are classified, we moved the equity element names from the left side to the top of the statement. The equity element names are now the column headings across the top of the statement. In the current year Form 10-K, the Statement of Stockholders’ Equity for the year ending December 31, 2023 has been formatted to be comparable with the year ending December 31, 2024 . Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform to the presentation of the current year financial statements .

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2. Significant Accounting Policies Cash Equivalents Cash equivalents are comprised of short-term, highly liquid investments with maturities of 90 days or less at the date of purchase. The cash balances may, at times, exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $ 250,000 . Trade Accounts Receivable We perform ongoing credit evaluations of our customers and assess each customer’s credit worthiness. The policy for determining when receivables are past due or delinquent is based on the contractual terms agreed upon. We monitor collections and payments from our customers and analyze for an allowance for credit losses. The allowance for credit losses is based upon applying an expected credit loss rate to receivables based on the historical loss rate and is adjusted for current conditions, including any specific customer collection issues identified, and economic conditions forecast. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. An allowance for credit losses is established when, in the opinion of management, collection of the account is doubtful. Trade accounts receivable, net amounted to $ 11.7 million , $ 7.4 million , and $ 8.7 million as of December 31, 2024, 2023 , and 2022, respectively. Inventories All of the Company’s products are manufactured by third parties that retain ownership of the inventory until title is transferred to the customer at the shipping point. In some situations, the Company retains ownership of consigned inventories at third-party contract manufacturer (CM) locations due to actual or pending customers' orders. The Company recognized the consigned inventory as an asset in its financial statements. In certain instances, shipping terms are delivery-at-place and the Company is responsible for arranging transportation and delivery of goods ready for unloading at the named place. In those instances, the Company bears all risk involved in bringing the goods to the named place and records the related inventory in transit to the customer as inventory on the accompanying consolidated balance sheets. Inventory is stated at the lower of cost or net realizable value. For items manufactured by our CMs, cost is determined using the weighted average cost method. For items manufactured by third parties, cost is determined using the first-in, first-out method (FIFO). Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period. Write downs for excess and obsolete inventories are estimated based on product life cycles, quality issues, and historical experience . Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years . The estimated useful lives for leasehold improvements are determined as either the estimated useful life of the asset or the lease term, whichever is shorter. Repairs and maintenance are expensed as incurred. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. When assets are disposed of (or otherwise sold), the cost and related accumulated depreciation are removed from the accounts and any gain or loss on the disposal of property and equipment is classified as other expense (income) in the Company's consolidated statement of operations. Goodwill We account for our goodwill under the authoritative guidance ASC 250 for goodwill and other intangible assets and the provisions of ASU 2017-04, Simplifying the Test for Goodwill Impairment, which we early adopted in fiscal year 2020. Goodwill is not amortized but is tested for impairment annually as of December 31 or more frequently if events or changes in circumstances indicate that our goodwill might be impaired. Such circumstances may include, but not limited to (1) a decline in macro-economic conditions, (2) a significant decline in our financial performance or (3) a significant decline in the price of our common stock for a sustained period of time. We consider the aggregation of the relevant qualitative factors, and conclude whether it is more likely than not that the fair value of our reporting unit is less than the carrying value. If we conclude that it is more likely than not that the fair value of our reporting unit is less than the carrying value, we perform a quantitative impairment test. The quantitative impairment test compares the fair value of the reporting unit to its carrying amount, including goodwill. If the fair value of the reporting unit exceeds the carrying amount of the net assets assigned to that reporting unit, goodwill is not considered impaired. However, if the fair value of the reporting unit is lower than the carrying amount of the net assets assigned to the reporting unit, an impairment charge is recognized equal to the excess of the carrying amount over the fair value. The impairment charge is limited to the goodwill amount of the reporting unit. Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions. For the market approach of valuation, we may use the guideline public company method. Under this method we utilize information from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit to derive an indication of value. For the income approach of valuation, we use a discounted cash flow methodology to derive an indication of value, which required management to make estimates and assumptions related to forecasted revenues, gross profit margins, operating income margins, working capital cash flow, income tax rates, EBITDA, perpetual growth rates, and long-term discount rates, among others. In addition, we make certain judgments and assumptions in determining our reporting unit. We base our fair value estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates. Intangibles The Company’s identifiable finite-lived intangible assets are comprised of acquired intangibles, developed technologies, customer relationships, noncompete agreements and licensed technology. The cost of the finite-lived intangible assets are amortized on a straight-line basis over the assets’ respective estimated useful lives. We assess potential impairments to our intangible assets in accordance with the authoritative guidance for impairment or disposal of long-lived assets (ASC 360) when events or changes in circumstances indicate that the carrying value may not be recoverable. We assess the impairment of long-lived and intangible assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. As a first step, we consider factors, which may include the following, but are not limited to: (1) significant underperformance relative to historical or projected future operating results; (2) significant negative industry or economic trends; and (3) a significant decline in our stock price for a sustained period. If this assessment indicates that the carrying value of the assets may not be recoverable, the Company is required to perform the second step to test the asset group for recoverability. This recoverability test compares the future undiscounted cash flows expected from the use of the asset group to its carrying value. If the carrying value is more than the undiscounted future cash flows, the Company is required perform a third step to determine the fair value of the asset group and compare fair value against the carrying value. Any excess carrying value over the fair value needs to be recognized as an impairment loss. Determining the recoverability of long-lived or intangible assets is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows and the future market value of our asset group. In addition, we make certain judgments and assumptions in determining our asset group. We base our recoverability estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates. Revenue Recognition Under ASC Topic 606 “Revenue from Contracts with Customers”, the Company recognize revenue when, or as the control of the promised goods or services is transferred to the customers in an amount that reflects the consideration the Company expects to be entitled in exchange for those goods or services. In applying this core principle, the Company performs the following five-steps only when it is probable that substantially all of the consideration that it will be entitled in exchange for the goods or services that will be transferred to the customer: (i) identify the contract(s) with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligation(s) in the contract and (v) recognize revenue when or as the entity satisfies performance obligations. A performance obligation is at a point in time, except if it meets any of the three criteria, which will require recognition of revenue over time: • the customer simultaneously receives and consumes the benefit provided by the entity’s performance as the entity performs, • the entity’s performance creates or enhances an asset (for example, work in process) that the customer controls as the asset is created or enhanced, and • the entity's performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date. Most of the Company's revenue is generated from product sales and the revenue is recognized at a point-in-time when control is transferred to the customer. Each purchase order, along with existing customer agreements, when applicable, represents a contract from a customer and each product sold represents a distinct performance obligation. Revenue is recognized when control is transferred to the customer at a point in time either when the product is shipped to or received by the customer, based on the terms of the specific agreement with the customer, and the Company has an enforceable right to payment for the product. The Company allocates the transaction price, which is generally the quoted price per terms of the contract and the consideration the Company expects to receive, to each performance obligation. The Company offers return rights, general sales return, and/or pricing credits under certain circumstances. We estimate product returns based on historical sales and return trends to record a refund liability allowance, and amounts against revenue and cost of goods sold. A portion of the Company's revenue is recognized over time, including: data subscription, test services or custom design services. Revenue from data subscription plans relate to purchased asset trackers with activated data lines, through a third-party service provider. Data subscription plan revenues are recognized monthly based on the fee stated in the contract, as the customer is simultaneously receiving and consuming the benefits provided throughout the Company's monthly performance obligation. Test service revenues are recognized monthly based on the fee stated in the contract for obligations over time on assets that the customer controls. Design service fees are paid in advance; the prepayments are deferred revenues and are recorded as contract liabilities. Most of the design service fees are recognized based on the Company's achievement of milestones. The Company's performance for the design services does not create an asset with an alternative use to the Company and the Company has an enforceable right to payment for performance completed to date. We recognize from the contract liabilities as milestones are achieved over service periods ranging from three (3) to eighteen (18) months. The Company's contracts with customers do not typically include extended payment terms. Payment terms may vary by contract and type of customer and generally range from 30 to 90 days from delivery. For a limited number of customers, the Company elected the practical expedient provided in ASC 606-10-25-18B, whereby the Company accounts for shipping and handling as activities to fulfill the promise to transfer the good. To the extent that the Company charges its customers shipping fees, such amounts are included as a component of revenue and the corresponding costs are included as a component of cost of sales. The Company provides assurance-type warranties on all product sales ranging from one to two years. The estimated warranty costs are accrued for at the time of sale based on historical warranty experience plus any known or expected changes in warranty exposure. The Company has opted to not disclose the portion of revenues allocated to partially unsatisfied performance obligations, which represent products to be shipped within 12 months under open customer purchase orders, at the end of the current reporting period as allowed under ASC 606. The Company has also elected to record sales commissions when incurred, pursuant to the practical expedient under ASC 340, Other Assets and Deferred Costs, as the period over which the sales commission asset that would have been recognized is less than one year. To the extent the Company collects and remits taxes on product sales from customers, it has elected to exclude from the measurement of transaction price taxes that are assessed by governmental authorities. Shipping and Transportation Costs Shipping and other transportation costs expensed as incurred were $ 0.5 million and $ 0.4 million for the years ended December 31, 2024 and 2023 , respectively. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations. Research and Development Costs Research and development costs are expensed as incurred. Advertising Costs Advertising costs are expensed as incurred and were $ 0.1 million and $ 0.3 million for the years ended December 31, 2024 and 2023 , respectively. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations. Income Taxes The Company records income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable a valuation allowance is established to reduce any deferred tax asset when we determine that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expense s. Stock-Based Compensation We recognize compensation costs related to stock options and restricted stock units granted to employees and directors based on the estimated fair value of the awards on the date of grant. We estimate the option grant fair values, and the resulting stock-based compensation expense, using the Black-Scholes option-pricing model. The grant date fair value of stock-based awards are expensed on a straight-line basis over the requisite service period of the entire reward. The Company recognizes forfeitures when incurred. The assumptions used in the Black-Scholes option-pricing model are as follows: • Fair value of our common stock . The Company’s common stock is valued by reference to the publicly traded price of our common stock. • Expected term . The expected term represents the period of time stock-based awards are expected to be outstanding. • Expected weighted average volatility . We estimated expected volatility, using solely our historical share price volatilities. • Risk-free interest rate . The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the expected term. • Expected dividend . The expected dividend is assumed to be zero as the Company has never paid dividends and have no current plans to pay any dividends. Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short maturity of these instruments. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. The Company follows a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets. Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU No. 2023-07 require that a public entity disclose, on an annual and interim basis the significant segment expenses, and other measures of profit or loss that are regularly used by an entity's chief operating decision maker (CODM) to assess segment performance and how to allocate resources. The ASU is applicable to entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 in fourth quarter of the fiscal year 2024 and applied the disclosure requirements retrospectively to all prior periods presented in the financial statements. The adoption did not have an impact on the Company’s financial position, results of operations, and cash flows. For additional information, see Note 17 Segment Information in the accompanying notes to the consolidated financial statements. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." ASU No. 2023-09 requires expanded disaggregated information about a reporting entity’s effective tax rate reconciliation as well as disclosure of income taxes paid by jurisdiction. The amendments in ASU are effective for fiscal years beginning after December 15, 2024 with early adoption permitted. Retrospective application of the amendments are permitted. The Company is evaluating the impact and will apply for 2025 financial statements. As the amendments apply to income tax disclosures only, the Company does not expect adoption to have a material impact on its consolidated financial statements. In March 2024, the FASB issued ASU 2024-02, "Codification Improvements—Amendments to Remove References to the Concepts Statements." ASU No. 2024-02 removes various references to concepts statements from the FASB Accounting Standards Codification. The ASU indicates that the goal of the amendments is to simplify the Codification and distinguish between non-authoritative and authoritative guidance since, unlike the Codification, the concepts statements are non-authoritative. The amendments in ASU are effective for fiscal years beginning after December 15, 2024 with early adoption permitted. Retrospective application of the amendments are permitted. The Company will evaluate the ASU to determine its impact on the Company’s disclosures. The Company does not expect adoption to have a material impact on its consolidated financial statements In November 2024, the FASB issued ASU No. 2024-03, "Expense Disaggregation Disclosures (Subtopic 220-40)." The ASU requires public entities to disaggregate, in a tabular presentation, certain relevant income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization in commonly presented expense captions such as cost of sales, selling, general and administrative expense, and research and development. The guidance is effective for all public business entities in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and may be applied retrospectively. The Company intends to adopt the amendments in this update. The impact of the adoption of the amendments in this update is not expected to be material to the Company’s consolidated financial position and results of operations, as the requirements only require more detailed disclosures in the footnotes to the Company’s consolidated financial statements. We have a ssessed all other ASUs issued but not yet adopted and concluded that those ASUs are not relevant to the Company or are not expected to have a material impact.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Note 3. Net Loss Per Share Basic net loss per share is calculated by dividing net loss available to common stockholders by the weighted average shares of common stock outstanding for the period. Diluted net loss per share is calculated by dividing net loss by the weighted average shares of common stock outstanding for the period plus amounts representing the dilutive effect of securities that are convertible into common stock. The Company calculates diluted loss per common share using the treasury stock method. The following table presents the computation of net loss per share (in thousands except per share data): For the Years Ended December 31, 2024 2023 Numerator: Net loss $ ( 8,688 ) $ ( 12,428 ) Denominator: Basic weighted average common shares outstanding 11,053 10,392 Diluted weighted average common shares outstanding 11,053 10,392 Net loss per share: Basic $ ( 0.79 ) $ ( 1.20 ) Diluted $ ( 0.79 ) $ ( 1.20 ) Potentially dilutive securities (in common stock equivalent shares) not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in thousands): For the Years Ended December 31, 2024 2023 Stock options and restricted stock 2,040 2,246 Total common stock equivalent shares 2,040 2,246

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Note 4. Cash and Cash Equivalents The following tables show the Company’s cash and cash equivalents by significant investment category (in thousands): As of December 31, 2024 2023 Cash $ 8,477 $ 7,581 Level 1: Money market funds 33 300 Total $ 8,510 $ 7,881 Restricted Cash As of December 31, 2024, the Company had $ 55,000 in cash on deposit to secure certain lease commitments, which is restricted for more than twelve months and recorded in long-term other assets in the Company’s consolidated balance sheet. As of December 31, 2023, the Company had $ 95,000 in cash on deposit to secure certain lease commitments; $ 40,000 of which is short-term in nature and recorded in prepaid expenses and other current assets and $ 55,000 of which is restricted for more than twelve months and recorded in long-term other assets in the Company’s consolidated balance sheet.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Note 5. Inventory Inventory is comprised of the following (in thousands): As of December 31, 2024 2023 Finished goods $ 3,521 $ 1,742 Raw materials 431 661 Total Inventory $ 3,952 $ 2,403 Consigned Inventory (which is included in Total Inventory) is comprised of the following (in thousands): As of December 31, 2024 2023 Finished goods $ 1,124 $ 598 Raw materials 166 558 Total Consigned Inventory $ 1,290 $ 1,156 Excess and obsolete inventory reserves were $ 0.7 million and $ 1.7 million as of December 31, 2024 and 2023 , respectively.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment Depreciation and amortization of property and equipment is calculated on the straight-line method based on the shorter of the estimated useful life or the term of the lease for tenant improvements and three to ten years for all other property and equipment. Property and equipment consist of the following (in thousands): As of December 31, 2024 2023 Computers and software $ 557 $ 811 Furniture, fixtures, and equipment 427 427 Manufacturing and testing equipment 5,507 5,371 Construction in process 6 45 Leasehold improvements 848 848 Software Development – Internal Use 66 — Vehicles 55 55 Property and equipment, gross 7,466 7,557 Less accumulated depreciation ( 5,473 ) ( 5,050 ) Property and equipment, net $ 1,993 $ 2,507 Depreciation expense was $ 0.5 million and $ 0.7 million or the years ended December 31, 2024 and 2023 , respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Note 7. Intangible Assets and Goodwill Other Intangible Assets The following is a summary of the Company’s acquired intangible assets (dollars in thousands): December 31, 2024 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 1,475 $ 345 Customer relationships 7 13,780 11,266 2,514 Developed technologies 11 4,380 1,973 2,407 Covenants to non-compete 2 115 115 — Licensed technology 3 581 48 533 Total intangible assets, net $ 20,676 $ 14,877 $ 5,799 December 31, 2023 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 1,135 $ 685 Customer relationships 7 13,780 8,993 4,787 Developed technologies 11 4,380 1,618 2,762 Covenants to non-compete 2 115 115 — Total intangible assets, net $ 20,095 $ 11,861 $ 8,234 Amortization expense was $ 3.0 million for the each of the years ended December 31, 2024 and 2023, respectively. Estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table (in thousands): Estimated future amortization 2025 $ 3,152 2026 751 2027 501 2028 275 2029 275 Thereafter 845 Total $ 5,799 Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors. No impairment losses were recorded against the other intangibles for the years ended December 31, 2024 and 2023, respectively. For the annual finite-lived intangible assets impairment assessment as of December 31, 2024, the Company evaluated the impairment considerations. As a first step, we consider factors, which may include the following, but are not limited to: (1) significant underperformance relative to historical or projected future operating results; (2) significant negative industry or economic trends; or (3) a significant decline in our stock price for a sustained period. If this assessment indicates that the carrying value of the assets may not be recoverable, the Company would be required to perform the second step to test the asset group for recoverability. This recoverability test compares the future undiscounted cash flows expected from the use of the asset group to its carrying value. The Company determined that there were no triggering events or circumstances to indicate that the carrying value of the finite-lived asset group may not be recoverable. Therefore, the Company did not perform the test to evaluate the asset group for recoverability. Based on the assessment performed, we concluded that an impairment charge to finite-lived intangible assets was not required as of December 31, 2024 and the useful lives remain appropriate. Goodwill For each of the years ended December 31, 2024 and 2023, the Company's goodwill assets totaled $ 10.8 million . No impairment losses were recorded against the goodwill during the for the years ended December 31, 2024 and 2023, respectively. For the annual goodwill impairment assessment, as of December 31, 2024, the Company evaluated the impairment considerations. As a first step, we consider events or changes in circumstances that indicate that our goodwill might be impaired. Such circumstances may include, but not limited to (1) a decline in macro-economic conditions, (2) a significant decline in our financial performance or (3) a significant decline in the price of our common stock for a sustained period of time. We consider the aggregation of the relevant qualitative factors, and conclude whether it is more likely than not that the fair value of our reporting unit is less than the carrying value. If we conclude that it is more likely than not that the fair value of our reporting unit is less than the carrying value, we perform a quantitative impairment test. The quantitative impairment test compares the fair value of the reporting unit to its carrying amount, including goodwill. The Company determined that there were no events or circumstances as of December 31, 2024 that indicated that it is more likely than not that the fair value of a reporting unit may be less than its carrying amount. Since there was no indication that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company determined that a quantitative goodwill impairment test was not necessary. Based on the assessment performed, we concluded that an impairment charge to goodwill was not required as of December 31, 2024. Certain future events and circumstances could result in changes to our assumptions and judgments used in the impairment tests. A downward revision of these assumptions could cause the total fair value of our goodwill and intangible assets to fall below carrying values and a non-cash impairment charge would be required. Such a charge may have a material effect on the consolidated financial statements .

Accrued Liabilities and Other

Accrued Liabilities and Other	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Liabilities and Other	Note 8. Accrued Liabilities and Other Accrued liabilities and other is comprised of the following (in thousands): As of December 31, 2024 2023 Accrued expenses $ 1,351 $ 1,031 VAT payable — 339 Accrued income taxes 6 145 Advanced payments from contract manufacturers 73 — Contract liabilities — 17 Goods received not invoiced 31 185 Other current liabilities 411 209 Accrued liabilities and other $ 1,872 $ 1,926

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Note 9. Leases Operating Leases The Company has made certain assumptions and judgments when applying ASC 842, the Company elected not to recognize right-of-use assets and lease liabilities for short-term leases (lease terms of twelve months or less). Operating lease arrangements primarily consist of office, warehouse and test house leases expiring during different years through 2031 . The facility leases have original lease terms of approximately one to seven years and may contain options to extend up to 5 years and/or terminate early. Options to extend are included in leased right-of-use assets and lease liabilities in the consolidated balance sheet when we are reasonably certain to renew a lease. Since the implicit rate of such leases is unknown and we may not be reasonably certain to renew leases, the Company has elected to apply a collateralized incremental borrowing rate to facility leases on the original lease term in calculating the present value of future lease payments. As of December 31, 2024 and 2023, the weighted average discount rate for operating leases was 6.5 % and 3.8 % , respectively, and the weighted average remaining lease term for operating leases was 6.3 years and 1.8 years, respectively. The Company has entered into various short-term operating leases, primarily for test houses and office equipment with initial terms of 12 months or less. These short-term leases are not recorded on the Company's consolidated balance sheet and the related short-term lease expense was $ 0.2 million and $ 0.1 million for the year ended December 31, 2024 and 2023, respectively. Total operating lease cost were $ 0.8 million $ 1.0 million for year ended December 31, 2024 and 2023, respectively. Capital area maintenance, property taxes and non-lease costs are excluded from lease expense. The table below presents aggregate future minimum pa yments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of December 31, 2024 (in thousands): Future operating lease obligations: 2025 $ 331 2026 812 2027 800 2028 773 2029 787 Thereafter 1,436 Total minimum payments $ 4,939 Less imputed interest ( 1,040 ) Less unrealized translation gain — Total lease liabilities $ 3,899 Less short-term lease liabilities ( 89 ) Long-term lease liability $ 3,810

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 10. Income Taxes Income Taxes The components of the pretax loss from operations for the years ended December 31 are as follows (in thousands): For the Years Ended December 31, 2024 2023 U.S. Domestic $ 8,761 $ 12,235 Foreign 79 65 Pretax loss from operations $ 8,840 $ 12,300 The income tax expense (benefit) is as follows (in thousands): For the Years Ended December 31, 2024 2023 Current: U.S. federal $ — $ — State and local 30 16 Foreign ( 193 ) 100 Total current income tax (benefit) expense ( 163 ) 116 Deferred: U.S. federal 9 9 State and local 2 3 Total deferred income tax expense 11 12 Income tax (benefit) expense $ ( 152 ) $ 128 Tax Rate Reconciliation Reconciliations of the total income tax provision tax rate to the statutory federal income tax rate of 21 % for the years ended December 31, 2024 and 2023, respectively, are as follows (in thousands): For the Years Ended December 31, 2024 2023 Income taxes at statutory rates $ ( 1,856 ) $ ( 2,583 ) State income tax, net of federal benefit 32 23 Permanent items 106 40 Equity based compensation 259 386 Federal research credits ( 347 ) ( 122 ) Federal return to provision 35 ( 10 ) Foreign taxes ( 194 ) 100 Other 98 17 Change in federal valuation allowance 1,715 2,277 Income tax (benefit) expense $ ( 152 ) $ 128 Significant Components of Current and Deferred Taxes The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands): As of December 31, 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 5,094 $ 5,846 Research and AMT credits 4,427 3,937 Stock based compensation 2,080 1,831 Lease liability 954 383 Section 174 R&D Capitalization 5,527 4,159 Accrued and other 908 760 Deferred tax assets 18,990 16,916 Less valuation allowance ( 16,696 ) ( 14,578 ) Deferred tax assets, net of allowance 2,294 2,338 Deferred tax liabilities: Fixed assets ( 411 ) ( 501 ) Goodwill ( 518 ) ( 468 ) Right-of-use asset ( 953 ) ( 340 ) Intangible asset ( 575 ) ( 1,180 ) Deferred tax liabilities ( 2,457 ) ( 2,489 ) Total deferred tax liabilities $ ( 163 ) $ ( 151 ) We have established a valuation allowance against our net deferred tax assets due to the uncertainty surrounding the realization of such assets. The Company periodically evaluates the recoverability of the deferred tax assets. At such time it is determined that it is more likely than not that deferred assets are realizable, the valuation allowance will be reduced. The Company has recorded a valuation allowance of $ 16.7 million as of December 31, 2024 as it does not believe it is more likely than not that certain deferred tax assets will be realized due to the recent history of both pre-tax book income and losses, the lack of taxable income available in carryback periods or feasible tax-planning strategies, the limited existing taxable temporary differences, and the subjective nature of forecasting future taxable income into the future. The Company increased its valuation allowance by approximately $ 2.1 million during the year ended December 31, 2024. As of December 31, 2024 the Company had federal and state tax loss carryforwards of approximately $ 19.6 million, and $ 11.9 million, respectively. The federal loss generated post 2018 of $ 11.2 million will carryforward indefinitely and be available to offset up to 80 % of future taxable income each year. The remaining federal and state net operating loss carryforwards begin to expire in 2029 and 2026 , respectively, if unused. As of December 31, 2024 the Company had federal and state tax credit carryforwards of approximately $ 2.4 million, and $ 2.0 million, respectively, after reduction for uncertain tax positions. The federal credits will begin to expire in 2026 , if unused, and the California credits carryforwards indefinitely. The other states credits will begin to expire in 2032. The above NOL carryforward and the federal and state research tax credit carryforwards may be subject to an annual limitation under section 382 and 383 of the Internal Revenue Code of 1986, as amended (the "Code"), and similar state provisions if we experience one or more ownership changes which would limit the amount of NOL and tax credit carryforwards that can be utilized to offset future taxable income and tax, respectively. In general, an ownership change as defined by Section 382 and 383, results from transactions increasing ownership of certain stockholders or public groups in the stock of the corporation by more than 50 percentage points over a rolling three-year period. The Company has completed an ownership change analysis through December 31, 2024 and incorporated the impact of ownership changes prior to this date by reducing the Company's net operating loss and R&D credit carryovers that may not be utilized due to the annual limitations associated with those ownership change dates. Our use of federal and state NOLs and research credits could be limited further by the provisions of Section 382 of the U.S. Internal Revenue Code of 1986, as amended, depending upon the timing and amount of additional equity securities that we have issued or will issue, subsequent to December 31, 2024.State NOL carryforwards may be similarly limited. If a change in ownership were to have occurred, NOL and tax credits carryforwards could be eliminated or restricted. If eliminated, the related asset would be removed from the deferred tax asset schedule with a corresponding reduction in the valuation allowance. Due to the existence of the valuation allowance, limitations created by ownership changes, if any, will not impact our effective tax rate. The following table summarizes the reconciliation of the unrecognized tax benefits activity during the years ended December 31 (in thousands): 2024 2023 Beginning unrecognized tax benefits $ 1,354 $ 1,305 Gross increases - tax positions in prior period — ( 65 ) Gross decreases – tax positions in prior period ( 175 ) — Gross increases - current year tax positions 135 114 Purchase accounting — — Ending unrecognized tax benefits $ 1,314 $ 1,354 The unrecognized tax benefit amounts are reflected in the determination of the Company’s deferred tax assets. If recognized, no ne of these amounts would impact the company’s effective tax rate due to the existence of the valuation allowance against deferred tax assets. The Company does not foresee material changes to its uncertain tax benefits within the next twelve months. The Company’s policy is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company has no accrual for interest or penalties on balance sheets as of December 31, 2024. The Company had $ 0.1 million accrual for interest or penalties on balance sheets as of December 31, 2023. The Company has recognized no interest and/or penalties in the Statement of Operations for each of the years ended December 31, 2024 and 2023. The Company is subject to taxation in the United States, various state jurisdictions, China and the United Kingdom. Due to the existence of federal, state and foreign net operating loss and credit carryovers, the Company's tax years that remain open and subject to examination by tax jurisdiction are years 2006 and forward for federal and years 2008 and forward for the state of California.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Class of Stock Disclosures [Abstract]
Stockholders' Equity	Note 11. Stockholders’ Equity In August 2016, the Company's Board adopted the 2016 Equity Incentive Plan (the 2016 Plan) for employees, directors and consultants. In February 2021, the Board adopted the 2021 Employment Inducement Incentive Award Plan (Inducement Plan), which provides for grants of equity-based awards. The following table presents common stock reserved for future issuance (1) (in thousands): As of December 31, 2024 2023 Stock options issued and outstanding 2,376 2,104 Stock awards issued and outstanding 945 817 Authorized for grants under the 2016 Plan (2) 164 448 Authorized for grants under the Inducement Plan (3) 210 174 Authorized for grants under the 2016 Employee Stock Purchase Plan (4) 494 540 4,189 4,083 (1) Treasury stock of 541,000 shares as of December 31, 2024 and 2023 are excluded from the table above. (2) On January 1 , 2024, the number of authorized shares in the 2016 Plan increased by 440,000 shares pursuant to the evergreen provisions of the 2016 Plan. (3) On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan. (4) On January 1, 2024, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan. Issuance of Common Stock In March 2024, we established an at-the-market (ATM) offering program to sell up to $ 5.0 million of the Company's common stock. As of December 31, 2024, we have $ 0.5 million available under the offering program for future sales of our common stock. The Company recorded the ATM gross sales proceeds and offering costs in additional paid-in capital of the consolidated balance sheet. The following table summarizes the Company’s ATM sales activity during the period indicated (in thousands): For the year ended December 31, 2024 Shares issued 760 Gross proceeds $ 4,493 Net proceeds after offering costs $ 4,116

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 12. Stock Based Compensation Stock-Based Compensation Expense Stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands): For the Years Ended December 31, 2024 2023 Cost of goods sold $ 311 $ 107 Research and development 1,379 1,062 Sales and marketing 379 373 General and administrative 2,566 2,139 Total stock-based compensation expense $ 4,635 $ 3,681 Stock Options The vesting period for stock options granted to employees is generally one to four years . All stock options granted under the 2016 Plan have a maximum contractual term of ten years. Commencing in 2019, each non-employee member of the board of directors will receive an annual award on the first trading day in February a number of stock options having a value of $30,000 (with the award to the chairperson of the board of directors having a value of $ 45,000 ), (calculated as of the date of grant in accordance with the Black-Scholes option pricing model). The grant-date fair value of each option award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The weighted average assumptions for grants during the years ended December 31, 2024 and 2023 are provided in the following table: For the Years Ended December 31, 2024 2023 Expected dividend yield 0 % 0 % Expected volatility 68.7 % 61.0 % Expected term (years) 4.1 4.3 Risk-free interest rate 4.2 % 4.0 % A summary of the Company’s stock option activity is as follows (shares in thousands): Weighted Average Number of Exercise Remaining contractual term (years) Aggregate Intrinsic Value (in thousands) Balance at December 31, 2023 2,104 $ 10.20 6.2 $ 329 Granted 425 $ 5.23 Exercised ( 26 ) $ 4.98 $ 18 Expired/Forfeited ( 127 ) $ 14.95 Balance at December 31, 2024 2,376 $ 9.12 5.9 $ 2,357 Vested and exercisable at December 31, 2024 1,677 $ 10.60 4.7 $ 1,049 Vested and expected to vest at December 31, 2024 2,376 $ 9.12 5.9 $ 2,357 During the years ended December 31, 2024 and 2023, the Company received proceeds of $ 127,000 and $ 28,000 respectively from the exercise of options. The weighted average grant-date fair values of options granted during the years ended December 31, 2024 and 2023 were $ 2.90 and $ 2.53 per share, respectively. The grant-date fair value of each option award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The grant date fair value of shares vested during the years ended December 31, 2024 and 2023 was $ 1.4 million and $ 1.9 million, respectively. For stock options vested and expected to vest, the aggregate intrinsic value as of December 31, 2024 and 2023 was $ 2.4 million and $ 0.3 million , respectively. At December 31, 2024, there was $ 1.6 million of unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans that is expected to be recognized over the next 2.1 years. Restricted Stock Units The following table summarizes the Company’s restricted stock unit activity (shares in thousands): Restricted Weighted average grant date fair value Balance at December 31, 2023 706 $ 6.97 Grants 507 $ 5.30 Vested and released ( 253 ) $ 7.41 Forfeited ( 125 ) $ 6.09 Balance at December 31, 2024 835 $ 5.95 Commencing in 2019, each non-employee member of the board of directors receives, on the first trading day in February of each year, such number of restricted stock units as is determined by dividing $30,000 (with the award to the chairperson of the board of directors having a value of $ 45,000 ) by the 30 trade days trailing average share price. During the year ended December 31, 2024, 54,500 restricted stock units with an average fair value of $ 4.45 per share were granted to the members of the Company’s board of directors of which fully vest on the one year anniversary of the grant date. Employees and consultants were granted 429,300 restricted stock units with an average fair value of $ 5.50 per share, which vest on grant date or vest equally after each of the annual anniversaries over a four year period. During the year ended December 31, 2023 , 28,000 restricted stock units with a fair value of $ 8.00 per share were granted to members of the Company’s board of directors of which fully vest on the first anniversary of the grant date, and 698,200 restricted stock units with a fair value of $ 4.82 per share were issued to employees which vest equally after each of the annual anniversaries over a four-year period. As of December 31, 2024, there was $ 3.0 million of total unrecognized stock-based compensation expense related to non-vested restricted stock units which is expected to be recognized over a remaining weighted-average vesting period of 2.3 years. The Company currently uses authorized and unissued shares to satisfy share award exercises. Performance Stock Units The following table summarizes the Company's PSU activity during the period indicated (shares in thousands): Performance Weighted average grant date fair value Balance at December 31, 2023 110 $ 1.79 Grants — $ — Vested and released — $ — Forfeited — $ — Balance at December 31, 2024 110 $ 1.79 Service as well as market and performance conditions determine the number of PSUs that the holder will earn from 0% to 150% of the target number of shares. The percentage received is based on the Company common stock price targets over a three-year service period. Additionally, the Company must achieve or exceed 75% of the year to date revenue target measured at the end of the quarter in which the price target is achieved. The market conditions have not currently been met. As of December 31, 2024, there was $ 4,000 of total unrecognized compensation cost related to unvested PSUs having a weighted average remaining contractual term of 0.3 years. We estimate the fair value of PSUs with a market condition using a Monte Carlo simulation model as of the date of grant to forecast performance achievement of market price. Key inputs in the valuation include cost of equity, market price volatility and discount rate. Share-Settled Obligation Share-settled compensation to the Board of Directors and consultants were incurred and recognized as stock-based compensation expense and recorded in accrued expense. Within ninety days after the calendar year-end, the liabilities are settled in RSU grants and vest on the grant date. The share-settled obligations were $ 0.8 million and $ 0.1 million as of December 31, 2024 and 2023, respectively. Employee Stock Purchase Plan (ESPP) The Company maintains the 2016 Employee Stock Purchase Plan (ESPP) that provides employees an opportunity to purchase common stock through payroll deductions. The ESPP is implemented through consecutive 6 -month offering periods commencing on March 1 and September 1 of each year. The purchase price is set at 85 % of the fair market value of the Company's common stock on either the first or last trading day of the offering period, whichever is lower. Annual contributions are limited to the lower of 20 % of an employee's eligible compensation or such other limits as apply under Section 423 of the Internal Revenue Code. The ESPP is intended to qualify as an employee stock purchase plan for purposes of Section 423 of the Internal Revenue Code. Based on the 15 % discount and the fair value of the option feature of the ESPP, it is considered compensatory. Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model. The Company currently uses authorized and unissued shares to satisfy share award exercises. During the year ended December 31, 2024, the Company received $ 0.2 million from the issuance of 45,809 shares and during the year ended December 31, 2023, the Company received $ 0.2 million from the issuance of 38,401 shares under the ESPP.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Potential Product Warranty Claims The Company had a general warranty accrual of approximately $ 0.1 million as of each year ending December 31, 2024 and December 31, 2023. Indemnification In some agreements to which the Company is a party, the Company has agreed to indemnify the other party for certain matters, including, but not limited to product liability and intellectual property. To date, we have not recorded any material liabilities in the accompanying consolidated financial statements .

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2024
Risks and Uncertainties [Abstract]
Concentrations	Note 14. Concentrations Concentration of Sales and Accounts Receivable The following represents customers that accounted for 10 % or more of total revenue: For the Years Ended December 31, 2024 2023 Customer A 25 % 16 % Customer B 15 % 15 % Customer C 15 % 9 % The following represents customers that accounted for 10 % or more of total trade accounts receivable: As of December, 31 2024 2023 Customer A 29 % 7 % Customer B 19 % 17 % Customer C 15 % 14 % The allowance for credit losses as of December 31, 2024 and 2023 were not material. Concentration of Purchases During the year ended December 31, 2024, the Company’s products were manufactured by eight CMs with locations in China, Taiwan, Vietnam, Mexico and the United States. Concentration of Cash The Company’s cash deposits exceeded the Federal Deposit Insurance Corporation’s insured limits. The Company has not experienced losses on these accounts. Most of the Company's deposits are in several accounts at a large institutional bank. Concentration of Property and Equipment The Company’s property and equipment, net by geographic region, are as follows (in thousands): As of December, 31 2024 2023 North America $ 1,841 $ 2,295 Asia Pacific (APAC) 56 86 Europe, Middle East and Africa (EMEA) 96 126 Property and equipment, net $ 1,993 $ 2,507

Revenues

Revenues	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Note 15. Revenues Disaggregated revenues are as follows (in thousands): For the Years Ended December 31, 2024 2023 By Market Group: Consumer $ 21,691 $ 18,934 Enterprise 29,497 27,209 Automotive 9,411 9,897 Total sales $ 60,599 $ 56,040 By Geography: North America $ 35,896 $ 33,916 China (including Hong Kong and Taiwan) 22,354 20,293 Rest of the world 2,349 1,831 Total sales $ 60,599 $ 56,040 Timing of revenue recognition: Products and services transferred at a point in time $ 57,817 $ 52,736 Products and services transferred over time 2,782 3,304 Total sales $ 60,599 $ 56,040 Revenue generated from the United States was $ 35.9 million and $ 33.6 million for the year ended December 31, 2024 and 2023, respectively. Contract liabilities are deferred revenues that were recorded when advance payment were received for remaining performance obligations that are recognized over time. The contract liabilities were $ 72,400 and $ 17,000 as of December 31, 2024 and 2023, respectively. We have stock rotation return rights arrangements with certain customers to return a limited percentage of product. Estimated allowances for stock rotation were $ 0.3 million and $ 0.1 million as of December 31, 2024 and December 31, 2023, respectively and are included in accrued liabilities in the accompanying consolidated balance sheets. The expected product returns under the stock rotation arrangement were $ 0.1 million and $ 34,000 as of December 31, 2024 and December 31, 2023, respectively and are included in inventory in the accompanying consolidated balance sheets.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2024
Postemployment Benefits [Abstract]
Employee Benefit Plan	Note 16. Employee Benefit Plan The Company’s 401(k) plan covers all U.S. employees beginning the first day of the month that follows the first 90 days of their employment. Under this plan, employees may elect to contribute up to 20 % of their annual compensation to the 401(k) plan up to the statutorily prescribed annual limit. The Company matches 100 % of the employee’s elective deferrals up to 4 % of their annual compensation. The Company may make discretionary contributions to the 401(k) plan, but there were no discretionary contributions during the year ended December 31, 2024. The Company’s contribution expense was $ 0.4 million and $ 0.3 million for the years ended December 31, 2024 and 2023 , respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	Note 17. Segment Information Due to similarities of its products, methods of production and it's management and administrative structure, the Company operates as a single operating and reportable segment. The following table presents segment revenue, gross profit, net loss and certain operating financial results of the Company’s single operating segment for the periods presented, as viewed by the CODM: Years Ended December 31, 2024 2023 Sales $ 60,599 $ 56,040 Less cost of goods sold: Other cost of goods sold 34,899 34,553 Stock-based compensation 311 107 Amortization of intangible assets 355 355 Depreciation 232 262 Gross profit 24,802 20,763 Gross margin 41 % 37 % Less research and development: Other research and development expenses 10,207 9,066 Stock-based compensation expense 1,379 1,062 Severance and exit costs — 20 Depreciation 278 357 Total research and development 11,864 10,505 Less sales and marketing: Other sales and marketing expenses 8,811 8,269 Stock-based compensation expense 379 373 Severance and exit costs — 481 Depreciation 13 3 Total sales and marketing 9,203 9,126 Less general and administrative: Other general and administrative expenses 7,459 8,629 Stock-based compensation expense 2,566 2,139 Amortization of intangible assets 2,613 2,614 Severance and exit costs — 111 Depreciation 25 39 Total general and administrative 12,663 13,532 Loss from operations ( 8,928 ) ( 12,400 ) Plus interest income, net 115 109 Income tax benefit (expense) 152 ( 128 ) Less other segment expenses (1) 27 9 Net loss $ ( 8,688 ) $ ( 12,428 ) (1) Other segment expenses are primarily foreign currency transaction remeasurements and franchise taxes. The CODM reviews the segment assets that are reported in the Consolidated Balance Sheets.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events In January 2025, we received ERC refunds, under the CARES Act, of $ 1.4 million, net of professional fees, plus an additional $ 0.2 million for interest earnings. As of December 31, 2024 , we have not recognized any ERC in our financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business Airgain, Inc. was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delaware on August 17, 2016. Airgain, Inc. together with its subsidiaries are herein referred to as the “Company,” “we,” or “our.” Headquartered in San Diego, California, Airgain, Inc. (NASDAQ: AIRG) is a leading provider of advanced wireless connectivity solutions that drive cutting-edge innovation in 5G technology. We are committed to delivering high-performance, cost-effective, and energy-efficient wireless solutions that enable rapid market deployment. Our mission is to connect the world through integrated, innovative, and optimized wireless solutions. Our diverse product portfolio serves three primary markets: enterprise, automotive, and consumer .
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding financial reporting. The consolidated financial statements include the accounts of the Company and our wholly owned subsidiary. All intercompany transactions and investments have been eliminated in consolidation.
Segment Information	Segment Information The Company is engaged in research and development, production, commercialization and sale of wireless connectivity solutions, offering integrated systems, embedded components, and external antennas worldwide. All of the Company’s products are manufactured by third-party contract manufacturers. Product sales for the year ended December 31, 2024 accounted for approximate 95 % of the Company’s total revenue, as compared to 5 % coming from service revenue. Due to similarities in its products, and methods of production, the Company has a single company-wide management team that administers operations on a consolidated basis. We concluded that we have only one operating and reportable segment: to provide wireless connectivity solutions. The determination of a single business segment is consistent with the consolidated financial information regularly reviewed by the Chief Operating Decision Maker (CODM), the Chief Executive Officer Jacob Suen, for the purposes of assessing performance, allocating resources and planning. The CODM regularly reviews consolidated revenue, gross margin, significant expenses, operating margin, and profit and loss. The CODM compares and analyzes the underlying determinants of the current metrics with the prior performance data and forecasts .
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates .
Presentation	Presentation For the year ended December 31, 2024, we changed the format within the Statements of Stockholders’ Equity from the format of prior years. Without changing how the amounts are classified, we moved the equity element names from the left side to the top of the statement. The equity element names are now the column headings across the top of the statement. In the current year Form 10-K, the Statement of Stockholders’ Equity for the year ending December 31, 2023 has been formatted to be comparable with the year ending December 31, 2024
Cash Equivalents	Cash Equivalents Cash equivalents are comprised of short-term, highly liquid investments with maturities of 90 days or less at the date of purchase. The cash balances may, at times, exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $ 250,000 .
Trade Accounts Receivable	Trade Accounts Receivable We perform ongoing credit evaluations of our customers and assess each customer’s credit worthiness. The policy for determining when receivables are past due or delinquent is based on the contractual terms agreed upon. We monitor collections and payments from our customers and analyze for an allowance for credit losses. The allowance for credit losses is based upon applying an expected credit loss rate to receivables based on the historical loss rate and is adjusted for current conditions, including any specific customer collection issues identified, and economic conditions forecast. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. An allowance for credit losses is established when, in the opinion of management, collection of the account is doubtful. Trade accounts receivable, net amounted to $ 11.7 million , $ 7.4 million , and $ 8.7 million as of December 31, 2024, 2023 , and 2022, respectively.
Inventories	Inventories All of the Company’s products are manufactured by third parties that retain ownership of the inventory until title is transferred to the customer at the shipping point. In some situations, the Company retains ownership of consigned inventories at third-party contract manufacturer (CM) locations due to actual or pending customers' orders. The Company recognized the consigned inventory as an asset in its financial statements. In certain instances, shipping terms are delivery-at-place and the Company is responsible for arranging transportation and delivery of goods ready for unloading at the named place. In those instances, the Company bears all risk involved in bringing the goods to the named place and records the related inventory in transit to the customer as inventory on the accompanying consolidated balance sheets. Inventory is stated at the lower of cost or net realizable value. For items manufactured by our CMs, cost is determined using the weighted average cost method. For items manufactured by third parties, cost is determined using the first-in, first-out method (FIFO). Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period. Write downs for excess and obsolete inventories are estimated based on product life cycles, quality issues, and historical experience
Property and Equipment	Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years . The estimated useful lives for leasehold improvements are determined as either the estimated useful life of the asset or the lease term, whichever is shorter. Repairs and maintenance are expensed as incurred. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. When assets are disposed of (or otherwise sold), the cost and related accumulated depreciation are removed from the accounts and any gain or loss on the disposal of property and equipment is classified as other expense (income) in the Company's consolidated statement of operations.
Goodwill	Goodwill We account for our goodwill under the authoritative guidance ASC 250 for goodwill and other intangible assets and the provisions of ASU 2017-04, Simplifying the Test for Goodwill Impairment, which we early adopted in fiscal year 2020. Goodwill is not amortized but is tested for impairment annually as of December 31 or more frequently if events or changes in circumstances indicate that our goodwill might be impaired. Such circumstances may include, but not limited to (1) a decline in macro-economic conditions, (2) a significant decline in our financial performance or (3) a significant decline in the price of our common stock for a sustained period of time. We consider the aggregation of the relevant qualitative factors, and conclude whether it is more likely than not that the fair value of our reporting unit is less than the carrying value. If we conclude that it is more likely than not that the fair value of our reporting unit is less than the carrying value, we perform a quantitative impairment test. The quantitative impairment test compares the fair value of the reporting unit to its carrying amount, including goodwill. If the fair value of the reporting unit exceeds the carrying amount of the net assets assigned to that reporting unit, goodwill is not considered impaired. However, if the fair value of the reporting unit is lower than the carrying amount of the net assets assigned to the reporting unit, an impairment charge is recognized equal to the excess of the carrying amount over the fair value. The impairment charge is limited to the goodwill amount of the reporting unit. Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions. For the market approach of valuation, we may use the guideline public company method. Under this method we utilize information from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit to derive an indication of value. For the income approach of valuation, we use a discounted cash flow methodology to derive an indication of value, which required management to make estimates and assumptions related to forecasted revenues, gross profit margins, operating income margins, working capital cash flow, income tax rates, EBITDA, perpetual growth rates, and long-term discount rates, among others. In addition, we make certain judgments and assumptions in determining our reporting unit. We base our fair value estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates.
Intangibles	Intangibles The Company’s identifiable finite-lived intangible assets are comprised of acquired intangibles, developed technologies, customer relationships, noncompete agreements and licensed technology. The cost of the finite-lived intangible assets are amortized on a straight-line basis over the assets’ respective estimated useful lives. We assess potential impairments to our intangible assets in accordance with the authoritative guidance for impairment or disposal of long-lived assets (ASC 360) when events or changes in circumstances indicate that the carrying value may not be recoverable. We assess the impairment of long-lived and intangible assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. As a first step, we consider factors, which may include the following, but are not limited to: (1) significant underperformance relative to historical or projected future operating results; (2) significant negative industry or economic trends; and (3) a significant decline in our stock price for a sustained period. If this assessment indicates that the carrying value of the assets may not be recoverable, the Company is required to perform the second step to test the asset group for recoverability. This recoverability test compares the future undiscounted cash flows expected from the use of the asset group to its carrying value. If the carrying value is more than the undiscounted future cash flows, the Company is required perform a third step to determine the fair value of the asset group and compare fair value against the carrying value. Any excess carrying value over the fair value needs to be recognized as an impairment loss. Determining the recoverability of long-lived or intangible assets is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows and the future market value of our asset group. In addition, we make certain judgments and assumptions in determining our asset group. We base our recoverability estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates.
Revenue Recognition	Revenue Recognition Under ASC Topic 606 “Revenue from Contracts with Customers”, the Company recognize revenue when, or as the control of the promised goods or services is transferred to the customers in an amount that reflects the consideration the Company expects to be entitled in exchange for those goods or services. In applying this core principle, the Company performs the following five-steps only when it is probable that substantially all of the consideration that it will be entitled in exchange for the goods or services that will be transferred to the customer: (i) identify the contract(s) with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligation(s) in the contract and (v) recognize revenue when or as the entity satisfies performance obligations. A performance obligation is at a point in time, except if it meets any of the three criteria, which will require recognition of revenue over time: • the customer simultaneously receives and consumes the benefit provided by the entity’s performance as the entity performs, • the entity’s performance creates or enhances an asset (for example, work in process) that the customer controls as the asset is created or enhanced, and • the entity's performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date. Most of the Company's revenue is generated from product sales and the revenue is recognized at a point-in-time when control is transferred to the customer. Each purchase order, along with existing customer agreements, when applicable, represents a contract from a customer and each product sold represents a distinct performance obligation. Revenue is recognized when control is transferred to the customer at a point in time either when the product is shipped to or received by the customer, based on the terms of the specific agreement with the customer, and the Company has an enforceable right to payment for the product. The Company allocates the transaction price, which is generally the quoted price per terms of the contract and the consideration the Company expects to receive, to each performance obligation. The Company offers return rights, general sales return, and/or pricing credits under certain circumstances. We estimate product returns based on historical sales and return trends to record a refund liability allowance, and amounts against revenue and cost of goods sold. A portion of the Company's revenue is recognized over time, including: data subscription, test services or custom design services. Revenue from data subscription plans relate to purchased asset trackers with activated data lines, through a third-party service provider. Data subscription plan revenues are recognized monthly based on the fee stated in the contract, as the customer is simultaneously receiving and consuming the benefits provided throughout the Company's monthly performance obligation. Test service revenues are recognized monthly based on the fee stated in the contract for obligations over time on assets that the customer controls. Design service fees are paid in advance; the prepayments are deferred revenues and are recorded as contract liabilities. Most of the design service fees are recognized based on the Company's achievement of milestones. The Company's performance for the design services does not create an asset with an alternative use to the Company and the Company has an enforceable right to payment for performance completed to date. We recognize from the contract liabilities as milestones are achieved over service periods ranging from three (3) to eighteen (18) months. The Company's contracts with customers do not typically include extended payment terms. Payment terms may vary by contract and type of customer and generally range from 30 to 90 days from delivery. For a limited number of customers, the Company elected the practical expedient provided in ASC 606-10-25-18B, whereby the Company accounts for shipping and handling as activities to fulfill the promise to transfer the good. To the extent that the Company charges its customers shipping fees, such amounts are included as a component of revenue and the corresponding costs are included as a component of cost of sales. The Company provides assurance-type warranties on all product sales ranging from one to two years. The estimated warranty costs are accrued for at the time of sale based on historical warranty experience plus any known or expected changes in warranty exposure. The Company has opted to not disclose the portion of revenues allocated to partially unsatisfied performance obligations, which represent products to be shipped within 12 months under open customer purchase orders, at the end of the current reporting period as allowed under ASC 606. The Company has also elected to record sales commissions when incurred, pursuant to the practical expedient under ASC 340, Other Assets and Deferred Costs, as the period over which the sales commission asset that would have been recognized is less than one year. To the extent the Company collects and remits taxes on product sales from customers, it has elected to exclude from the measurement of transaction price taxes that are assessed by governmental authorities.
Shipping and Transportation Costs	Shipping and Transportation Costs Shipping and other transportation costs expensed as incurred were $ 0.5 million and $ 0.4 million for the years ended December 31, 2024 and 2023 , respectively. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred and were $ 0.1 million and $ 0.3 million for the years ended December 31, 2024 and 2023 , respectively. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations.
Income Taxes	Income Taxes The Company records income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable a valuation allowance is established to reduce any deferred tax asset when we determine that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expense s.
Stock-Based Compensation	Stock-Based Compensation We recognize compensation costs related to stock options and restricted stock units granted to employees and directors based on the estimated fair value of the awards on the date of grant. We estimate the option grant fair values, and the resulting stock-based compensation expense, using the Black-Scholes option-pricing model. The grant date fair value of stock-based awards are expensed on a straight-line basis over the requisite service period of the entire reward. The Company recognizes forfeitures when incurred. The assumptions used in the Black-Scholes option-pricing model are as follows: • Fair value of our common stock . The Company’s common stock is valued by reference to the publicly traded price of our common stock. • Expected term . The expected term represents the period of time stock-based awards are expected to be outstanding. • Expected weighted average volatility . We estimated expected volatility, using solely our historical share price volatilities. • Risk-free interest rate . The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the expected term. • Expected dividend . The expected dividend is assumed to be zero as the Company has never paid dividends and have no current plans to pay any dividends.
Fair Value Measurements	Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short maturity of these instruments. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. The Company follows a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU No. 2023-07 require that a public entity disclose, on an annual and interim basis the significant segment expenses, and other measures of profit or loss that are regularly used by an entity's chief operating decision maker (CODM) to assess segment performance and how to allocate resources. The ASU is applicable to entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 in fourth quarter of the fiscal year 2024 and applied the disclosure requirements retrospectively to all prior periods presented in the financial statements. The adoption did not have an impact on the Company’s financial position, results of operations, and cash flows. For additional information, see Note 17 Segment Information in the accompanying notes to the consolidated financial statements. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." ASU No. 2023-09 requires expanded disaggregated information about a reporting entity’s effective tax rate reconciliation as well as disclosure of income taxes paid by jurisdiction. The amendments in ASU are effective for fiscal years beginning after December 15, 2024 with early adoption permitted. Retrospective application of the amendments are permitted. The Company is evaluating the impact and will apply for 2025 financial statements. As the amendments apply to income tax disclosures only, the Company does not expect adoption to have a material impact on its consolidated financial statements. In March 2024, the FASB issued ASU 2024-02, "Codification Improvements—Amendments to Remove References to the Concepts Statements." ASU No. 2024-02 removes various references to concepts statements from the FASB Accounting Standards Codification. The ASU indicates that the goal of the amendments is to simplify the Codification and distinguish between non-authoritative and authoritative guidance since, unlike the Codification, the concepts statements are non-authoritative. The amendments in ASU are effective for fiscal years beginning after December 15, 2024 with early adoption permitted. Retrospective application of the amendments are permitted. The Company will evaluate the ASU to determine its impact on the Company’s disclosures. The Company does not expect adoption to have a material impact on its consolidated financial statements In November 2024, the FASB issued ASU No. 2024-03, "Expense Disaggregation Disclosures (Subtopic 220-40)." The ASU requires public entities to disaggregate, in a tabular presentation, certain relevant income statement expenses into different categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization in commonly presented expense captions such as cost of sales, selling, general and administrative expense, and research and development. The guidance is effective for all public business entities in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and may be applied retrospectively. The Company intends to adopt the amendments in this update. The impact of the adoption of the amendments in this update is not expected to be material to the Company’s consolidated financial position and results of operations, as the requirements only require more detailed disclosures in the footnotes to the Company’s consolidated financial statements. We have a ssessed all other ASUs issued but not yet adopted and concluded that those ASUs are not relevant to the Company or are not expected to have a material impact.
Reclassifications	Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform to the presentation of the current year financial statements

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Summary of Computation of Net Income or (Loss) Per Share	The following table presents the computation of net loss per share (in thousands except per share data): For the Years Ended December 31, 2024 2023 Numerator: Net loss $ ( 8,688 ) $ ( 12,428 ) Denominator: Basic weighted average common shares outstanding 11,053 10,392 Diluted weighted average common shares outstanding 11,053 10,392 Net loss per share: Basic $ ( 0.79 ) $ ( 1.20 ) Diluted $ ( 0.79 ) $ ( 1.20 )
Summary of Potentially Dilutive Securities	Potentially dilutive securities (in common stock equivalent shares) not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in thousands): For the Years Ended December 31, 2024 2023 Stock options and restricted stock 2,040 2,246 Total common stock equivalent shares 2,040 2,246

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents by Significant Investment Category	The following tables show the Company’s cash and cash equivalents by significant investment category (in thousands): As of December 31, 2024 2023 Cash $ 8,477 $ 7,581 Level 1: Money market funds 33 300 Total $ 8,510 $ 7,881

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory And Consigned Inventories, Current	Inventory is comprised of the following (in thousands): As of December 31, 2024 2023 Finished goods $ 3,521 $ 1,742 Raw materials 431 661 Total Inventory $ 3,952 $ 2,403 Consigned Inventory (which is included in Total Inventory) is comprised of the following (in thousands): As of December 31, 2024 2023 Finished goods $ 1,124 $ 598 Raw materials 166 558 Total Consigned Inventory $ 1,290 $ 1,156

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following (in thousands): As of December 31, 2024 2023 Computers and software $ 557 $ 811 Furniture, fixtures, and equipment 427 427 Manufacturing and testing equipment 5,507 5,371 Construction in process 6 45 Leasehold improvements 848 848 Software Development – Internal Use 66 — Vehicles 55 55 Property and equipment, gross 7,466 7,557 Less accumulated depreciation ( 5,473 ) ( 5,050 ) Property and equipment, net $ 1,993 $ 2,507

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Acquired Intangible Assets	The following is a summary of the Company’s acquired intangible assets (dollars in thousands): December 31, 2024 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 1,475 $ 345 Customer relationships 7 13,780 11,266 2,514 Developed technologies 11 4,380 1,973 2,407 Covenants to non-compete 2 115 115 — Licensed technology 3 581 48 533 Total intangible assets, net $ 20,676 $ 14,877 $ 5,799 December 31, 2023 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 1,135 $ 685 Customer relationships 7 13,780 8,993 4,787 Developed technologies 11 4,380 1,618 2,762 Covenants to non-compete 2 115 115 — Total intangible assets, net $ 20,095 $ 11,861 $ 8,234
Schedule of Estimated Annual Amortization of Intangible Assets	Estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table (in thousands): Estimated future amortization 2025 $ 3,152 2026 751 2027 501 2028 275 2029 275 Thereafter 845 Total $ 5,799

Accrued Liabilities and Other (

Accrued Liabilities and Other (Tables)	12 Months Ended
	Dec. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Summary of Accrued Liabilities and Other	Accrued liabilities and other is comprised of the following (in thousands): As of December 31, 2024 2023 Accrued expenses $ 1,351 $ 1,031 VAT payable — 339 Accrued income taxes 6 145 Advanced payments from contract manufacturers 73 — Contract liabilities — 17 Goods received not invoiced 31 185 Other current liabilities 411 209 Accrued liabilities and other $ 1,872 $ 1,926

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Future Minimum Lease Payments Under Operating Leases	The table below presents aggregate future minimum pa yments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of December 31, 2024 (in thousands): Future operating lease obligations: 2025 $ 331 2026 812 2027 800 2028 773 2029 787 Thereafter 1,436 Total minimum payments $ 4,939 Less imputed interest ( 1,040 ) Less unrealized translation gain — Total lease liabilities $ 3,899 Less short-term lease liabilities ( 89 ) Long-term lease liability $ 3,810

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision (Benefit)	The income tax expense (benefit) is as follows (in thousands): For the Years Ended December 31, 2024 2023 Current: U.S. federal $ — $ — State and local 30 16 Foreign ( 193 ) 100 Total current income tax (benefit) expense ( 163 ) 116 Deferred: U.S. federal 9 9 State and local 2 3 Total deferred income tax expense 11 12 Income tax (benefit) expense $ ( 152 ) $ 128
Schedule of components of the pretax loss from operation	The components of the pretax loss from operations for the years ended December 31 are as follows (in thousands): For the Years Ended December 31, 2024 2023 U.S. Domestic $ 8,761 $ 12,235 Foreign 79 65 Pretax loss from operations $ 8,840 $ 12,300
Schedule of Reconciliation of Income Tax Provision to Statutory Federal Income Tax Rate	Reconciliations of the total income tax provision tax rate to the statutory federal income tax rate of 21 % for the years ended December 31, 2024 and 2023, respectively, are as follows (in thousands): For the Years Ended December 31, 2024 2023 Income taxes at statutory rates $ ( 1,856 ) $ ( 2,583 ) State income tax, net of federal benefit 32 23 Permanent items 106 40 Equity based compensation 259 386 Federal research credits ( 347 ) ( 122 ) Federal return to provision 35 ( 10 ) Foreign taxes ( 194 ) 100 Other 98 17 Change in federal valuation allowance 1,715 2,277 Income tax (benefit) expense $ ( 152 ) $ 128
Deferred Income Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands): As of December 31, 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 5,094 $ 5,846 Research and AMT credits 4,427 3,937 Stock based compensation 2,080 1,831 Lease liability 954 383 Section 174 R&D Capitalization 5,527 4,159 Accrued and other 908 760 Deferred tax assets 18,990 16,916 Less valuation allowance ( 16,696 ) ( 14,578 ) Deferred tax assets, net of allowance 2,294 2,338 Deferred tax liabilities: Fixed assets ( 411 ) ( 501 ) Goodwill ( 518 ) ( 468 ) Right-of-use asset ( 953 ) ( 340 ) Intangible asset ( 575 ) ( 1,180 ) Deferred tax liabilities ( 2,457 ) ( 2,489 ) Total deferred tax liabilities $ ( 163 ) $ ( 151 )
Summary of Reconciliation of Unrecognized Tax Benefit Activity	The following table summarizes the reconciliation of the unrecognized tax benefits activity during the years ended December 31 (in thousands): 2024 2023 Beginning unrecognized tax benefits $ 1,354 $ 1,305 Gross increases - tax positions in prior period — ( 65 ) Gross decreases – tax positions in prior period ( 175 ) — Gross increases - current year tax positions 135 114 Purchase accounting — — Ending unrecognized tax benefits $ 1,314 $ 1,354

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Class of Stock Disclosures [Abstract]
Schedule of Common Stock Reserved for Future Issuance	The following table presents common stock reserved for future issuance (1) (in thousands): As of December 31, 2024 2023 Stock options issued and outstanding 2,376 2,104 Stock awards issued and outstanding 945 817 Authorized for grants under the 2016 Plan (2) 164 448 Authorized for grants under the Inducement Plan (3) 210 174 Authorized for grants under the 2016 Employee Stock Purchase Plan (4) 494 540 4,189 4,083 (1) Treasury stock of 541,000 shares as of December 31, 2024 and 2023 are excluded from the table above. (2) On January 1 , 2024, the number of authorized shares in the 2016 Plan increased by 440,000 shares pursuant to the evergreen provisions of the 2016 Plan. (3) On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan. (4) On January 1, 2024, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.
ScheduleOfTheCompanysAtmSalesActivityTabletextblock	The following table summarizes the Company’s ATM sales activity during the period indicated (in thousands): For the year ended December 31, 2024 Shares issued 760 Gross proceeds $ 4,493 Net proceeds after offering costs $ 4,116

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Weighted Average Assumptions Used in Estimating Fair Value of Stock Options	The grant-date fair value of each option award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The weighted average assumptions for grants during the years ended December 31, 2024 and 2023 are provided in the following table: For the Years Ended December 31, 2024 2023 Expected dividend yield 0 % 0 % Expected volatility 68.7 % 61.0 % Expected term (years) 4.1 4.3 Risk-free interest rate 4.2 % 4.0 %
Summary of Outstanding Stock Option Activity	A summary of the Company’s stock option activity is as follows (shares in thousands): Weighted Average Number of Exercise Remaining contractual term (years) Aggregate Intrinsic Value (in thousands) Balance at December 31, 2023 2,104 $ 10.20 6.2 $ 329 Granted 425 $ 5.23 Exercised ( 26 ) $ 4.98 $ 18 Expired/Forfeited ( 127 ) $ 14.95 Balance at December 31, 2024 2,376 $ 9.12 5.9 $ 2,357 Vested and exercisable at December 31, 2024 1,677 $ 10.60 4.7 $ 1,049 Vested and expected to vest at December 31, 2024 2,376 $ 9.12 5.9 $ 2,357
Summary of Outstanding Restricted Stock Unit Activity	The following table summarizes the Company’s restricted stock unit activity (shares in thousands): Restricted Weighted average grant date fair value Balance at December 31, 2023 706 $ 6.97 Grants 507 $ 5.30 Vested and released ( 253 ) $ 7.41 Forfeited ( 125 ) $ 6.09 Balance at December 31, 2024 835 $ 5.95
Schedule Of Stock Based Compensation Expenses	Stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands): For the Years Ended December 31, 2024 2023 Cost of goods sold $ 311 $ 107 Research and development 1,379 1,062 Sales and marketing 379 373 General and administrative 2,566 2,139 Total stock-based compensation expense $ 4,635 $ 3,681
Schedule of performance stock unit	The following table summarizes the Company's PSU activity during the period indicated (shares in thousands): Performance Weighted average grant date fair value Balance at December 31, 2023 110 $ 1.79 Grants — $ — Vested and released — $ — Forfeited — $ — Balance at December 31, 2024 110 $ 1.79

Concentrations (Tables)

Concentrations (Tables)	12 Months Ended
	Dec. 31, 2024
Risks and Uncertainties [Abstract]
Schedule of Concentration of Sales and Accounts Receivable	The following represents customers that accounted for 10 % or more of total revenue: For the Years Ended December 31, 2024 2023 Customer A 25 % 16 % Customer B 15 % 15 % Customer C 15 % 9 % The following represents customers that accounted for 10 % or more of total trade accounts receivable: As of December, 31 2024 2023 Customer A 29 % 7 % Customer B 19 % 17 % Customer C 15 % 14 %
Summary Of Long Lived Assets By Geographical Region	The Company’s property and equipment, net by geographic region, are as follows (in thousands): As of December, 31 2024 2023 North America $ 1,841 $ 2,295 Asia Pacific (APAC) 56 86 Europe, Middle East and Africa (EMEA) 96 126 Property and equipment, net $ 1,993 $ 2,507

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenues	Disaggregated revenues are as follows (in thousands): For the Years Ended December 31, 2024 2023 By Market Group: Consumer $ 21,691 $ 18,934 Enterprise 29,497 27,209 Automotive 9,411 9,897 Total sales $ 60,599 $ 56,040 By Geography: North America $ 35,896 $ 33,916 China (including Hong Kong and Taiwan) 22,354 20,293 Rest of the world 2,349 1,831 Total sales $ 60,599 $ 56,040 Timing of revenue recognition: Products and services transferred at a point in time $ 57,817 $ 52,736 Products and services transferred over time 2,782 3,304 Total sales $ 60,599 $ 56,040

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule Of Segment Revenue Gross Profit And Net Loss	The following table presents segment revenue, gross profit, net loss and certain operating financial results of the Company’s single operating segment for the periods presented, as viewed by the CODM: Years Ended December 31, 2024 2023 Sales $ 60,599 $ 56,040 Less cost of goods sold: Other cost of goods sold 34,899 34,553 Stock-based compensation 311 107 Amortization of intangible assets 355 355 Depreciation 232 262 Gross profit 24,802 20,763 Gross margin 41 % 37 % Less research and development: Other research and development expenses 10,207 9,066 Stock-based compensation expense 1,379 1,062 Severance and exit costs — 20 Depreciation 278 357 Total research and development 11,864 10,505 Less sales and marketing: Other sales and marketing expenses 8,811 8,269 Stock-based compensation expense 379 373 Severance and exit costs — 481 Depreciation 13 3 Total sales and marketing 9,203 9,126 Less general and administrative: Other general and administrative expenses 7,459 8,629 Stock-based compensation expense 2,566 2,139 Amortization of intangible assets 2,613 2,614 Severance and exit costs — 111 Depreciation 25 39 Total general and administrative 12,663 13,532 Loss from operations ( 8,928 ) ( 12,400 ) Plus interest income, net 115 109 Income tax benefit (expense) 152 ( 128 ) Less other segment expenses (1) 27 9 Net loss $ ( 8,688 ) $ ( 12,428 ) (1) Other segment expenses are primarily foreign currency transaction remeasurements and franchise taxes.

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024
Product Concentration Risk [Member] | Net Revenue | Product [Member]
Product Information [Line Items]
Concentration risk percentage	95%
Revenue Concentration Risk [Member] | Service Revenue | Service [Member]
Product Information [Line Items]
Concentration risk percentage	5%

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) Days	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Significant Accounting Policies [Line Items]
Increase (Decrease) in Accounts Receivable	$ 4,297,000	$ (1,367,000)
Trade accounts receivable	11,700,000	7,400,000	$ 8,700,000
Shipping and other transportation costs	500,000	400,000
Advertising costs	$ 100,000	$ 300,000
Minimum [Member]
Significant Accounting Policies [Line Items]
Deferred revenue recognition period	3 months
Revenue Recognition Payment Terms | Days	30
Property and equipment, estimated useful life	3 years
Maximum [Member]
Significant Accounting Policies [Line Items]
Cash, FDIC Insured Amount	$ 250,000
Deferred revenue recognition period	18 months
Revenue Recognition Payment Terms | Days	90
Property and equipment, estimated useful life	10 years

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Computation of Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss)	$ (8,688)	$ (12,428)
Weighted Average Number of Shares Outstanding, Basic	11,053	10,392
Weighted Average Number of Shares Outstanding, Diluted	11,053	10,392
Basic	$ (0.79)	$ (1.2)
Diluted	$ (0.79)	$ (1.2)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Potentially Dilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	2,040	2,246
Stock Options and Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	2,040	2,246

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents by Significant Investment Category (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Cash	$ 8,477	$ 7,581
Cash and cash equivalents and Short term investments, Amortized cost	8,510	7,881
Money Market Funds | Level 1
Cash and Cash Equivalents [Line Items]
Cash equivalents	$ 33	$ 300

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Restricted cash	$ 55,000	$ 95,000
Restricted cash -short term		40,000
Restricted cash -long term		$ 55,000

Inventory - Schedule of invento

Inventory - Schedule of inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory [Line Items]
Total Inventory	$ 3,952	$ 2,403
Inventories [Member]
Inventory [Line Items]
Finished goods	3,521	1,742
Raw materials	431	661
Total Inventory	3,952	2,403
Consigned inventories [Member]
Inventory [Line Items]
Finished goods	1,124	598
Raw materials	166	558
Total Inventory	$ 1,290	$ 1,156

Inventory (Additional Informati

Inventory (Additional Information) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Reserve for excess and obsolete inventory	$ 0.7	$ 1.7

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Depreciation expense	$ 548	$ 661
Maximum [Member]
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	10 years
Property, Plant and Equipment, Other Types [Member]
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	10 years

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 7,466	$ 7,557
Less accumulated depreciation	(5,473)	(5,050)
Property and equipment, net	1,993	2,507
Computers and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	557	811
Furniture, Fixtures, and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	427	427
Manufacturing and Testing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	5,507	5,371
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	6	45
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	848	848
Software Development Internal Use
Property Plant And Equipment [Line Items]
Property and equipment, gross	66	0
Vehicles
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 55	$ 55

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule of Change in the Carrying Amount of Goodwill (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Beginning Balance	$ 10,845
Goodwill, Ending Balance	$ 10,845

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Summary of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 20,676	$ 20,095
Accumulated amortization	14,877	11,861
Total	$ 5,799	$ 8,234
Market related intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	5 years	5 years
Gross carrying amount	$ 1,820	$ 1,820
Accumulated amortization	1,475	1,135
Total	$ 345	$ 685
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	7 years	7 years
Gross carrying amount	$ 13,780	$ 13,780
Accumulated amortization	11,266	8,993
Total	$ 2,514	$ 4,787
Developed technologies
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	11 years	11 years
Gross carrying amount	$ 4,380	$ 4,380
Accumulated amortization	1,973	1,618
Total	$ 2,407	$ 2,762
Covenants to non-compete
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	2 years	2 years
Gross carrying amount	$ 115	$ 115
Accumulated amortization	115	115
Total	$ 0	$ 0
Licensed technology
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	3 years
Gross carrying amount	$ 581
Accumulated amortization	48
Total	$ 533

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Schedule of Estimated Annual Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 3,152
2026	751
2027	501
2028	275
2029	275
Thereafter	845
Total	$ 5,799	$ 8,234

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 3,029	$ 2,969
GoodwillI impairment Loss	0	0
Impairment losses intangible assets	0	0
Goodwill	$ 10,845	$ 10,845

Accrued Liabilities and Other -

Accrued Liabilities and Other - Summary of Accrued Liabilities and Other (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued Liabilities and Other Liabilities [Abstract]
Accrued expenses	$ 1,351	$ 1,031
VAT payable	0	339
Accrued income taxes	6	145
Advanced payments from contract manufacturers	73	0
Contract liabilities	0	17
Goods received not invoiced	31	185
Other current liabilities	411	209
Accrued liabilities and other	$ 1,872	$ 1,926

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease option to extend	5 years
Operating lease weighted average discount rate percent	6.50%	3.80%
Operating lease weighted average remaining lease term	6 years 3 months 18 days	1 year 9 months 18 days
Operating lease cost	$ 0.8	$ 1
Short-term leases expense	$ 0.2	$ 0.1
Lease expiration date	Dec. 31, 2031
Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating lease term of contract	7 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating lease term of contract	1 year

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments on Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 331
2026	812
2027	800
2028	773
2029	787
Thereafter	1,436
Total minimum payments	4,939
Less imputed interest	(1,040)
Less unrealized translation gain	0
Total lease liabilities	3,899
Less short-term lease liabilities	(89)	$ (865)
Long-term lease liabilities	$ 3,810	$ 674

Income Taxes - The components o

Income Taxes - The components of the pretax loss from operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax loss from operations	$ 8,840	$ 12,300
U.S. Domestic
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax loss from operations	8,761	12,235
Foreign
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax loss from operations	$ 79	$ 65

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Current:
U.S. federal	$ 0	$ 0
State and local	30	16
Foreign	(193)	100
Total current income tax (benefit) expense	(163)	116
Deferred:
U.S. federal	9	9
State and local	2	3
Total deferred income tax expense	11	12
Income tax (benefit) expense	$ (152)	$ 128

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2018
Income Taxes [Line Items]
U.S. federal statutory tax rate	21%	21%
Valuation allowance	$ 16,696	$ 14,578
Increase in valuation allowance	$ 2,100
Cumulative change in ownership percentage	50%
Unrecognized tax benefit that would impact effective tax rate, if recognized	$ 0
Income tax interest and penalties accrued		$ 100
U.S. Domestic
Income Taxes [Line Items]
Net operating loss carry forwards	$ 19,600
Net operating loss carryforwards begin to expire	2029
Post 2018 operating loss carryforward available to offset future taxable income	$ 11,200
Percentage of future taxable income offset by operating loss carryforward			80%
Tax credit carry forwards	$ 2,400
Tax credit carry forwards, expire period	2026
State
Income Taxes [Line Items]
Net operating loss carry forwards	$ 11,900
Net operating loss carryforwards begin to expire	2026
Tax credit carry forwards	$ 2,000

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax Provision to Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income taxes at statutory rates	$ (1,856)	$ (2,583)
State income tax, net of federal benefit	32	23
Permanent items	106	40
Equity based compensation	259	386
Federal research credits	(347)	(122)
Federal return to provision	35	(10)
Foreign taxes	(194)	100
Other	98	17
Change in federal valuation allowance	1,715	2,277
Income tax (benefit) expense	$ (152)	$ 128

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 5,094	$ 5,846
Research and AMT credits	4,427	3,937
Stock based compensation	2,080	1,831
Lease Liability	954	383
Section 174 R&D Capitalization	5,527	4,159
Accrued and other	908	760
Deferred Tax Assets, Gross	18,990	16,916
Less valuation allowance	(16,696)	(14,578)
Deferred tax assets, net of allowance	2,294	2,338
Deferred tax liabilities:
Fixed assets	(411)	(501)
Goodwill	(518)	(468)
Right-of-use asset	(953)	(340)
Intangible asset	(575)	(1,180)
Deferred tax liabilities	(2,457)	(2,489)
Total deferred tax liabilities	$ (163)	$ (151)

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefit Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Beginning unrecognized tax benefits	$ 1,354	$ 1,305
Gross increases - tax positions in prior period	0	(65)
Gross decreases-tax positions in prior period	(175)	0
Gross increases - current year tax positions	135	114
Purchase accounting	0	0
Ending unrecognized tax benefits	$ 1,314	$ 1,354

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Reserved for Future Issuance (Details) - shares shares in Thousands		Dec. 31, 2024	Dec. 31, 2023
Class Of Stock [Line Items]
Common stock, reserved for future issuance		4,189	4,083
Stock options issued and outstanding [Member]
Class Of Stock [Line Items]
Common stock, reserved for future issuance		2,376	2,104
Stock awards issued and outstanding [Member]
Class Of Stock [Line Items]
Common stock, reserved for future issuance		945	817
Authorized for Grants under the 2016 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	164	448
Authorized for grants under the 2016 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[2]	494	540
2021 Inducement Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[3]	210	174
[1] On January 1 , 2024, the number of authorized shares in the 2016 Plan increased by 440,000 shares pursuant to the evergreen provisions of the 2016 Plan. On January 1, 2024, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan. On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan.

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Common Stock Reserved for Future Issuance (Parenthetical) (Details) - shares	Jan. 01, 2024	Dec. 31, 2024	Dec. 31, 2023	Feb. 05, 2021
Class Of Stock [Line Items]
Treasury stock, shares at cost		541,000	541,000
2016 Equity Incentive Plan
Class Of Stock [Line Items]
Number of authorized shares increased	440,000
2016 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Number of authorized shares increased	100,000
Inducement Plan
Class Of Stock [Line Items]
Number of authorized shares				300,000

StockholdersEquity (Additional

StockholdersEquity (Additional Information) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 31, 2024
Atm Offerings [Member]
Class of Stock [Line Items]
CommonStockValue	$ 0.5	$ 5

Stockholders' Equity - Stockhol

Stockholders' Equity - Stockholders' Equity - Schedule of the Company's ATM sales activity (Details) - At The Market Offering [Member] shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) shares
Subsidiary, Sale of Stock [Line Items]
Shares issued | shares	760
Gross proceeds	$ 4,493
Net proceeds after offering costs	$ 4,116

Stock Based Compensation - Sche

Stock Based Compensation - Schedule Of Stock Based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 4,635	$ 3,681
Cost of goods sold
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	311	107
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	1,379	1,062
Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	379	373
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 2,566	$ 2,139

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) - USD ($)		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of stock options exercised		$ 18,000
Stock-based compensation		$ 4,635,000	$ 3,681,000
Common stock, reserved for future issuance		4,189,000	4,083,000
Stock options expected to vest aggregate intrinsic value		$ 2,357,000
Proceeds from stock issued during period		$ 152,000	$ 204,000
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Offering period of employee stock purchase plan		6 months
Limited percentage of annual contribution		20%
Percentage of discount and fair value of option		15%
Proceeds from stock issued during period		$ 200,000	$ 200,000
Number of stock issued during period		45,809	38,401
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost		$ 3,000,000
Total unrecognized compensation cost, period for recognition		2 years 3 months 18 days
Restricted stock units, Grants		507,000
Restricted stock units, Vested		253,000
Weighted average grant date fair value, Grants		$ 5.30	$ 4.82
Restricted stock units, vesting period description			vest equally after each of the annual anniversaries over a four-year period.
Restricted Stock Units | Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, vesting period description		fully vest on the one year anniversary of the grant date. Employees and consultants were granted 429,300
Restricted stock units, vesting period		4 years
Restricted Stock Units | Employees And Consultants [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, Vested		429,300	698,200
Weighted average grant date fair value, Grants		$ 5.5
Restricted stock units, vesting period			4 years
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from exercise of stock options			$ 127,000	$ 28,000
Weighted average grant-date fair value of options granted		$ 2.9	$ 2.53
Grant date fair value of shares vested		$ 1,400,000	$ 1,900,000
Total unrecognized compensation cost		$ 1,600,000
Total unrecognized compensation cost, period for recognition		2 years 1 month 6 days
Stock options expected to vest aggregate intrinsic value		$ 2,400,000	300,000
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost		$ 4,000,000,000
Restricted stock units, Grants		0
Restricted stock units, Vested		0
Weighted average grant date fair value, Grants		$ 0
Description of performance stock unit		Service as well as market and performance conditions determine the number of PSUs that the holder will earn from 0% to 150% of the target number of shares. The percentage received is based on the Company common stock price targets over a three-year service period. Additionally, the Company must achieve or exceed 75% of the year to date revenue target measured at the end of the quarter in which the price target is achieved. The market conditions have not currently been met.
Weighted average remaining contractual term		3 months 18 days
Share-Settled Obligation [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
AccruedLiabilitiesForCommissionsExpenseAndTaxes		$ 800,000	100,000
Board of Directors Chairman
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock option value awarded per year -Chairperson			45,000	$ 45,000	$ 45,000
Board of Directors Chairman | Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units value awarded per year -Chairperson		$ 45,000	$ 45,000		$ 45,000
Restricted stock units, Grants		54,500	28,000
Weighted average grant date fair value, Grants		$ 4.45	$ 8
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period for stock options granted to employees			1 year
Minimum [Member] | Restricted Stock Units | Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, vesting period description		vest on grant date or vest equally after each of the annual anniversaries over a four year period.
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period for stock options granted to employees			4 years
Maximum [Member] | Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase price percentage of market value of common stock		85%
Authorized for Grants under the 2016 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, reserved for future issuance	[1]	164,000	448,000
[1] On January 1 , 2024, the number of authorized shares in the 2016 Plan increased by 440,000 shares pursuant to the evergreen provisions of the 2016 Plan.

Stock Based Compensation - Weig

Stock Based Compensation - Weighted Average Assumptions Used in Estimating Fair Value of Stock Options (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based compensation arrangement by share-based payment award, Fair value assumptions and methodology
Expected dividend yield	0%	0%
Expected volatility	68.70%	61%
Expected term (years)	4 years 1 month 6 days	4 years 3 months 18 days
Risk-free interest rate	4.20%	4%

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Outstanding Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Number of shares, Beginning balance	2,104
Number of shares, Granted	425
Number of shares, Exercised	(26)
Number of shares, Expired/Forfeited	(127)
Number of shares, Ending balance	2,376	2,104
Number of shares, Vested and exercisable	1,677
Number of shares, Vested and expected to vest	2,376
Weighted average exercise price, Beginning balance	$ 10.2
Weighted average exercise price, Granted	5.23
Weighted average exercise price, Exercised	4.98
Weighted average exercise price, Expired/Forfeited	14.95
Weighted average exercise price, Ending balance	9.12	$ 10.2
Weighted average exercise price, Vested and exercisable	10.6
Weighted average exercise price, Vested and expected to vest	$ 9.12
Weighted average remaining contractual term	5 years 10 months 24 days	6 years 2 months 12 days
Weighted average remaining contractual term, Vested and exercisable	4 years 8 months 12 days
Weighted average remaining contractual term, Vested and expected to vest	5 years 10 months 24 days
Aggregate intrinsic value, Beginning Balance	$ 329
Intrinsic value of stock options exercised	18
Aggregate Intrinsic Value, Ending Balance	2,357	$ 329
Aggregate intrinsic value vested and exercisable	1,049
Stock options expected to vest aggregate intrinsic value	$ 2,357

Stock Based Compensation - Su_2

Stock Based Compensation - Summary of Outstanding Restricted Stock Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, Beginning balance	706
Restricted stock units, Grants	507
Restricted stock units, Vested and released	(253)
Forfeited	(125)
Restricted stock units, Ending balance	835	706
Weighted average grant date fair value, Beginning balance	$ 6.97
Weighted average grant date fair value, Grants	5.30	$ 4.82
Weighted average grant date fair value, Vested	7.41
Weighted Average Grant Date Fair Value Forfeited	6.09
Weighted average grant date fair value, Ending balance	$ 5.95	$ 6.97
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, Beginning balance	110
Restricted stock units, Grants	0
Restricted stock units, Vested and released	0
Forfeited	0
Restricted stock units, Ending balance	110	110
Weighted average grant date fair value, Beginning balance	$ 1.79
Weighted average grant date fair value, Grants	0
Weighted average grant date fair value, Vested	0
Weighted Average Grant Date Fair Value Forfeited	0
Weighted average grant date fair value, Ending balance	$ 1.79	$ 1.79

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commitment And Contingencies [Line Items]
Accrual warranty	$ 0.1	$ 0.1

Concentrations - Additional Inf

Concentrations - Additional Information (Details) - Customer Concentration Risk - Major Customers	12 Months Ended
	Dec. 31, 2024
Net Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10%
Trade Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	10%

Concentrations - Schedule of Co

Concentrations - Schedule of Concentration of Sales and Accounts Receivable (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Net Revenue | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	25%	16%
Net Revenue | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	15%	15%
Net Revenue | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	15%	9%
Trade Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	29%	7%
Trade Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	19%	17%
Trade Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	15%	14%

Concentrations - Schedule Of Lo

Concentrations - Schedule Of Long Lived Assets By Geographical Region (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 1,993	$ 2,507
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	1,841	2,295
Asia Pacific (APAC)
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	56	86
Europe, Middle East and Africa (EMEA)
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 96	$ 126

Revenues - Summary of Disaggreg

Revenues - Summary of Disaggregated Revenues By Sales Channel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 60,599	$ 56,040

Revenues - Summary of Disaggr_2

Revenues - Summary of Disaggregated Revenues By Market Group (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 60,599	$ 56,040
Consumer
Disaggregation of Revenue [Line Items]
Sales	21,691	18,934
Enterprise
Disaggregation of Revenue [Line Items]
Sales	29,497	27,209
Automotive
Disaggregation of Revenue [Line Items]
Sales	$ 9,411	$ 9,897

Revenues - Summary of Disaggr_3

Revenues - Summary of Disaggregated Revenues By Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 60,599	$ 56,040
China including Hong Kong and Taiwan
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	22,354	20,293
North America
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	35,896	33,916
Rest of the world
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 2,349	$ 1,831

Revenues - Summary of Disaggr_4

Revenues - Summary of Disaggregated Revenue Timing of revenue recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 60,599	$ 56,040
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	57,817	52,736
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,782	$ 3,304

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 60,599,000	$ 56,040,000
Stock Rotation Return Rights [Member] | Product Returns and Allowances
Disaggregation of Revenue [Line Items]
Allowances for product returns	100,000	34,000
Accrued Liabilities | Stock Rotation Return Rights [Member] | Product Returns and Allowances
Disaggregation of Revenue [Line Items]
Allowances for product returns	300,000	100,000
United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	35,900,000	33,600,000
Contract with Customer, Liability, Current	$ 72,400	$ 17,000

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - 401 K - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Employers matching contribution, annual maximum contribution percentage	20%
Maximum annual contribution percentage per employee that is match by employer	100%
Employer discretionary contribution amount	$ 0
Maximum contribution that is matched by the employer	4%
Contribution expense	$ 400	$ 300

Segment Information - Schedule

Segment Information - Schedule of Segment Revenue Gross Profit Net Loss (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Sales		$ 60,599	$ 56,040
Less cost of goods sold
Other cost of goods sold		500	400
Stock-based compensation		4,635	3,681
Amortization of intangible assets		3,029	2,969
Depreciation		548	661
Gross profit		$ 24,802	$ 20,763
Gross margin		41%	37%
Less research and development
Research and Development Expense, Total		$ 11,864	$ 10,505
Less sales and marketing
Total sales and marketing		9,203	9,126
Less general and administrative
Other general and administrative expenses		7,459	8,629
Total general and administrative		12,663	13,532
Loss from operations		(8,928)	(12,400)
Interest income, net		115	109
Income tax benefit (expense)		152	(128)
Less other segment expenses	[1]	27	9
Net Income (Loss)		(8,688)	(12,428)
Selling and Marketing Expense [Member]
Less cost of goods sold
Stock-based compensation		379	373
Depreciation		13	3
Less research and development
Severance and exit costs		0	481
Less sales and marketing
Other sales and marketing expenses		8,811	8,269
General and Administrative Expense [Member]
Less cost of goods sold
Stock-based compensation		2,566	2,139
Amortization of intangible assets		2,613	2,614
Depreciation		25	39
Less research and development
Severance and exit costs		0	111
Research and Development Expense [Member]
Less cost of goods sold
Stock-based compensation		1,379	1,062
Depreciation		278	357
Less research and development
Other research and development expenses		10,207	9,066
Severance and exit costs		0	20
Cost of goods sold
Less cost of goods sold
Other cost of goods sold		34,899	34,553
Stock-based compensation		311	107
Amortization of intangible assets		355	355
Depreciation		$ 232	$ 262
[1] Other segment expenses are primarily foreign currency transaction remeasurements and franchise taxes.

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - Subsequent Event $ in Millions	1 Months Ended
	Jan. 31, 2025 USD ($)
Subsequent Event [Line Items]
Relief refund under cares act	$ 1.4
Internal Revenue Service (IRS) [Member]
Subsequent Event [Line Items]
Interest earnings	$ 0.2