Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 07, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001409269 | |
Entity Registrant Name | Venus Concept Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-38238 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 06-1681204 | |
Entity Address, Address Line One | 235 Yorkland Blvd., Suite 900 | |
Entity Address, City or Town | Toronto | |
Entity Address, State or Province | ON | |
Entity Address, Postal Zip Code | M2J 4Y8 | |
City Area Code | 877 | |
Local Phone Number | 848-8430 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | VERO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,255,277 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 5,732 | $ 5,396 |
Accounts receivable, net of allowance of $4,161 and $7,415 as of June 30, 2024, and December 31, 2023, respectively | 24,584 | 29,151 |
Inventories | 19,782 | 23,072 |
Prepaid expenses | 1,009 | 1,298 |
Advances to suppliers | 4,540 | 5,604 |
Other current assets | 1,256 | 1,925 |
Total current assets | 56,903 | 66,446 |
LONG-TERM ASSETS: | ||
Long-term trade receivables | 9,479 | 11,318 |
Deferred tax assets | 1,195 | 1,032 |
Severance pay funds | 421 | 573 |
Property and equipment, net | 1,126 | 1,322 |
Operating right-of-use assets, net | 3,907 | 4,517 |
Intangible assets | 6,719 | 8,446 |
Total long-term assets | 22,847 | 27,208 |
TOTAL ASSETS | 79,750 | 93,654 |
CURRENT LIABILITIES: | ||
Trade payables | 7,189 | 9,038 |
Accrued expenses and other current liabilities | 12,474 | 12,437 |
Note payable | 2,289 | 0 |
Current portion of long-term debt | 1,297 | 4,155 |
Income taxes payable | 626 | 366 |
Unearned interest income | 1,198 | 1,468 |
Warranty accrual | 1,139 | 1,029 |
Deferred revenues | 894 | 1,076 |
Operating lease liabilities | 1,432 | 1,590 |
Total current liabilities | 28,538 | 31,159 |
LONG-TERM LIABILITIES: | ||
Long-term debt | 42,402 | 70,790 |
Accrued severance pay | 458 | 634 |
Deferred tax liabilities | 2 | 15 |
Unearned interest revenue | 438 | 671 |
Warranty accrual | 271 | 334 |
Operating lease liabilities | 2,613 | 3,162 |
Other long-term liabilities | 664 | 338 |
Total long-term liabilities | 46,848 | 75,944 |
TOTAL LIABILITIES | 75,386 | 107,103 |
Commitments and Contingencies (Note 9) | ||
STOCKHOLDERS’ EQUITY (DEFICIT) (Note 15): | ||
Common Stock, $0.0001 par value: 300,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 7,255,277 and 5,529,149 issued and outstanding as of June 30, 2024, and December 31, 2023, respectively | 30 | 30 |
Additional paid-in capital | 295,320 | 247,854 |
Accumulated deficit | (291,648) | (261,903) |
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) | 3,702 | (14,019) |
Non-controlling interests | 662 | 570 |
Equity, Including Portion Attributable to Noncontrolling Interest | 4,364 | (13,449) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ 79,750 | $ 93,654 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Accounts receivable, allowance, current | $ 4,161 | $ 7,415 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 7,255,277 | 5,529,149 |
Common stock, shares outstanding (in shares) | 7,255,277 | 5,529,149 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenues | $ 16,582 | $ 20,075 | $ 34,061 | $ 40,606 |
Cost of goods sold: | ||||
Cost of goods and services sold | 4,733 | 5,855 | 10,565 | 12,687 |
Gross profit | 11,849 | 14,220 | 23,496 | 27,919 |
Operating expenses: | ||||
Selling and marketing | 7,048 | 8,380 | 14,422 | 16,412 |
General and administrative | 8,660 | 9,633 | 18,908 | 20,818 |
Research and development | 1,737 | 1,965 | 3,522 | 4,602 |
Total operating expenses | 17,445 | 19,978 | 36,852 | 41,832 |
Loss from operations | (5,596) | (5,758) | (13,356) | (13,913) |
Other expenses: | ||||
Foreign exchange (gain) loss | 774 | (178) | 1,098 | (530) |
Finance expenses | 2,452 | 1,553 | 4,120 | 3,061 |
(Gain) loss on disposal of subsidiaries | 0 | (1) | 0 | 76 |
Loss on extinguishment of debt | 10,901 | 0 | 10,901 | 0 |
Loss before income taxes | (19,723) | (7,132) | (29,475) | (16,520) |
Income tax expense | 141 | 189 | 178 | 424 |
Net loss | (19,864) | (7,321) | (29,653) | (16,944) |
Loss attributable to stockholders of the Company | (19,951) | (7,409) | (29,745) | (17,066) |
Net income — non-controlling interest | $ 87 | $ 88 | $ 92 | $ 122 |
Net loss per share: | ||||
Basic (in dollars per share) | $ (3.05) | $ (1.35) | $ (4.81) | $ (3.19) |
Diluted (in dollars per share) | $ (3.05) | $ (1.35) | $ (4.81) | $ (3.19) |
Weighted-average number of shares used in per share calculation: | ||||
Basic (in shares) | 6,550 | 5,471 | 6,189 | 5,355 |
Diluted (in shares) | 6,550 | 5,471 | 6,189 | 5,355 |
Leases [Member] | ||||
Revenues | $ 4,455 | $ 4,311 | $ 8,048 | $ 10,072 |
Cost of goods sold: | ||||
Cost of goods and services sold | 410 | 721 | 1,887 | 2,450 |
Products and Services [Member] | ||||
Revenues | 12,127 | 15,764 | 26,013 | 30,534 |
Cost of goods sold: | ||||
Cost of goods and services sold | $ 4,323 | $ 5,134 | $ 8,678 | $ 10,237 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net loss | $ (19,864) | $ (7,321) | $ (29,653) | $ (16,944) |
Loss attributable to stockholders of the Company | (19,951) | (7,409) | (29,745) | (17,066) |
Income attributable to non-controlling interest | 87 | 88 | 92 | 122 |
Comprehensive loss | $ (19,864) | $ (7,321) | $ (29,653) | $ (16,944) |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] The 2022 Private Placement [Member] | Preferred Stock [Member] Multi-Tranche Private Placement 2023 [Member] | Preferred Stock [Member] The 2023 Series X Private Placement [Member] | Preferred Stock [Member] The 2024 Series Y Private Placement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Total | ||
Balance (in shares) at Dec. 31, 2022 | 3,185,000 | 0 | 5,161,374 | [1] | |||||||||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ (548) | $ 0 | $ (548) | |||||||||||
Balance at Dec. 31, 2022 | $ 29 | $ 232,169 | $ (224,105) | $ 645 | $ 8,738 | ||||||||||
Issuance of common stock (in shares) | 0 | 0 | 224,378 | [1] | |||||||||||
Issuance of common stock | $ 1 | 744 | 0 | 0 | 745 | ||||||||||
Net loss — the Company | 0 | 0 | (9,657) | 0 | (9,657) | ||||||||||
Net income — non-controlling interest | 0 | 0 | 0 | 34 | 34 | ||||||||||
Stock-based compensation | $ 0 | 481 | 0 | 0 | 481 | ||||||||||
Restricted share units vested (in shares) | 0 | 0 | 22,000 | [1] | |||||||||||
Restricted share units vested | 0 | [1] | 0 | 0 | 0 | ||||||||||
Balance (in shares) at Mar. 31, 2023 | 3,185,000 | 0 | 5,407,752 | [1] | |||||||||||
Balance at Mar. 31, 2023 | $ 30 | 233,394 | (234,310) | 679 | (207) | ||||||||||
Balance (in shares) at Dec. 31, 2022 | 3,185,000 | 0 | 5,161,374 | [1] | |||||||||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ (548) | $ 0 | $ (548) | |||||||||||
Balance at Dec. 31, 2022 | $ 29 | 232,169 | (224,105) | 645 | 8,738 | ||||||||||
Net income — non-controlling interest | 122 | ||||||||||||||
Balance (in shares) at Jun. 30, 2023 | 3,185,000 | 280,899 | 5,526,481 | ||||||||||||
Balance at Jun. 30, 2023 | $ 30 | 235,467 | (241,719) | 680 | (5,542) | ||||||||||
Balance (in shares) at Mar. 31, 2023 | 3,185,000 | 0 | 5,407,752 | [1] | |||||||||||
Balance at Mar. 31, 2023 | $ 30 | 233,394 | (234,310) | 679 | (207) | ||||||||||
Issuance of common stock (in shares) | 0 | 0 | 118,729 | ||||||||||||
Issuance of common stock | $ 0 | 71 | 0 | 0 | 71 | ||||||||||
2024 Registered Direct Offering shares and warrants, net of costs (in shares) | 0 | 280,899 | 0 | ||||||||||||
2024 Registered Direct Offering shares and warrants, net of costs | $ 0 | 1,206 | 0 | 0 | 1,206 | ||||||||||
Net loss — the Company | 0 | 0 | (7,409) | 0 | (7,409) | ||||||||||
Net income — non-controlling interest | 0 | 0 | 0 | 88 | 88 | ||||||||||
Stock-based compensation | 0 | 369 | 0 | 0 | 369 | ||||||||||
Beneficial conversion feature | 0 | 427 | 0 | 0 | 427 | ||||||||||
Dividends from subsidiaries | $ 0 | 0 | 0 | (87) | (87) | ||||||||||
Balance (in shares) at Jun. 30, 2023 | 3,185,000 | 280,899 | 5,526,481 | ||||||||||||
Balance at Jun. 30, 2023 | $ 30 | 235,467 | (241,719) | 680 | (5,542) | ||||||||||
Balance (in shares) at Dec. 31, 2023 | 3,185,000 | 1,575,810 | 256,356 | 0 | 5,529,149 | ||||||||||
Balance at Dec. 31, 2023 | $ 30 | 247,854 | (261,903) | 570 | (13,449) | ||||||||||
Issuance of common stock (in shares) | 0 | 0 | 0 | 0 | 8,333 | ||||||||||
Issuance of common stock | 10 | 0 | 0 | 10 | |||||||||||
2024 Registered Direct Offering shares and warrants, net of costs (in shares) | 0 | 0 | 0 | 0 | 817,748 | ||||||||||
2024 Registered Direct Offering shares and warrants, net of costs | $ 0 | 977 | 0 | 0 | 977 | ||||||||||
2023 Series X Private Placement shares dividends (in shares) | 0 | 0 | 8,012 | 0 | 0 | ||||||||||
2023 Series X Private Placement shares dividends | $ 0 | 0 | 0 | 0 | 0 | ||||||||||
Net loss — the Company | 0 | 0 | (9,794) | 0 | (9,794) | ||||||||||
Net income — non-controlling interest | 0 | 0 | 0 | 5 | 5 | ||||||||||
Stock-based compensation | $ 0 | 339 | 0 | 0 | 339 | ||||||||||
Balance (in shares) at Mar. 31, 2024 | 3,185,000 | 1,575,810 | 264,368 | 0 | 6,355,230 | ||||||||||
Balance at Mar. 31, 2024 | $ 30 | 249,180 | (271,697) | 575 | (21,912) | ||||||||||
Balance (in shares) at Dec. 31, 2023 | 3,185,000 | 1,575,810 | 256,356 | 0 | 5,529,149 | ||||||||||
Balance at Dec. 31, 2023 | $ 30 | 247,854 | (261,903) | 570 | (13,449) | ||||||||||
Net income — non-controlling interest | 92 | ||||||||||||||
Balance (in shares) at Jun. 30, 2024 | 1,835,000 | 1,575,810 | 272,393 | 576,986 | 7,255,277 | ||||||||||
Balance at Jun. 30, 2024 | $ 30 | 295,320 | (291,648) | 662 | 4,364 | ||||||||||
Balance (in shares) at Mar. 31, 2024 | 3,185,000 | 1,575,810 | 264,368 | 0 | 6,355,230 | ||||||||||
Balance at Mar. 31, 2024 | $ 30 | 249,180 | (271,697) | 575 | (21,912) | ||||||||||
2023 Series X Private Placement shares dividends (in shares) | 0 | 0 | 8,025 | 0 | 0 | ||||||||||
2023 Series X Private Placement shares dividends | $ 0 | 0 | 0 | 0 | 0 | ||||||||||
Net loss — the Company | 0 | 0 | (19,951) | 0 | (19,951) | ||||||||||
Net income — non-controlling interest | 0 | 0 | 0 | 87 | 87 | ||||||||||
Stock-based compensation | $ 0 | 239 | 0 | 0 | 239 | ||||||||||
Exchange of MSLP Loan for Series Y Private Placement shares (in shares) | 0 | 0 | 0 | 576,986 | 0 | ||||||||||
Exchange of MSLP Loan for Series Y Private Placement shares | $ 0 | 45,901 | 0 | 0 | 45,901 | ||||||||||
Conversion of 2022 Private Placement shares (in shares) | (1,350,000) | ||||||||||||||
Conversion of 2022 Private Placement shares (in shares) | 0 | 0 | 0 | 900,047 | |||||||||||
Conversion of 2022 Private Placement shares | 0 | 0 | 0 | 0 | |||||||||||
Balance (in shares) at Jun. 30, 2024 | 1,835,000 | 1,575,810 | 272,393 | 576,986 | 7,255,277 | ||||||||||
Balance at Jun. 30, 2024 | $ 30 | $ 295,320 | $ (291,648) | $ 662 | $ 4,364 | ||||||||||
[1]Presented as $0 due to rounding. |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | $ (19,864) | $ (7,321) | $ (29,653) | $ (16,944) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | 1,952 | 2,032 | ||||
Stock-based compensation | 578 | 850 | ||||
Provision for expected credit losses | 273 | $ 171 | 444 | 977 | $ 1,350 | |
Provision for inventory obsolescence | 723 | 674 | ||||
Finance expenses and accretion | 2,526 | 680 | ||||
Deferred tax expense (recovery) | (176) | 78 | ||||
Loss on sale of subsidiary | 0 | 76 | ||||
Loss on extinguishment of debt | 10,901 | 0 | 10,901 | 0 | ||
Loss on disposal of property and equipment | 19 | 0 | ||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable short-term and long-term | 5,962 | 6,153 | ||||
Inventories | 2,567 | 297 | ||||
Prepaid expenses | 289 | 207 | ||||
Advances to suppliers | 1,064 | 132 | ||||
Other current assets | 669 | 1,642 | ||||
Operating right-of-use assets, net | 610 | 879 | ||||
Other long-term assets | (2) | (268) | ||||
Trade payables | (1,611) | 259 | ||||
Accrued expenses and other current liabilities | 225 | (4,185) | ||||
Current operating lease liabilities | (158) | (236) | ||||
Severance pay funds | 152 | 154 | ||||
Unearned interest income | (503) | (887) | ||||
Long-term operating lease liabilities | (549) | (555) | ||||
Other long-term liabilities | (239) | (25) | ||||
Net cash used in operating activities | (4,210) | (8,010) | ||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Purchases of property and equipment | (47) | (92) | ||||
Net cash used in investing activities | (47) | (92) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||
Proceeds from issuance of common stock | 10 | 1,109 | ||||
2023 Multi-Tranche Private Placement, net of costs of $367 | 0 | 1,633 | ||||
2024 Registered Direct Offering shares and warrants, net of costs of $222 | 976 | 0 | ||||
Dividends from subsidiaries paid to non-controlling interest | 0 | (87) | ||||
Proceeds from Short-Term Bridge Financing By Madryn, net of costs of $238 | 2,000 | 0 | ||||
2024 Convertible Notes issued to EW, net of costs of $393 | 1,607 | 0 | ||||
Net cash provided by financing activities | 4,593 | 2,655 | ||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | 336 | (5,447) | ||||
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period | $ 5,396 | 5,396 | 11,569 | 11,569 | ||
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — End of period | $ 5,732 | $ 6,122 | 5,732 | 6,122 | $ 5,396 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||
Cash paid for income taxes | 69 | 18 | ||||
Cash paid for interest | $ 1,594 | $ 2,381 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Venus Concept Inc. is a global medical technology company that develops, commercializes, and sells minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related services. The Company's systems have been designed on cost-effective, proprietary and flexible platforms that enable it to expand beyond the aesthetic industry’s traditional markets of dermatology and plastic surgery, and into non-traditional markets, including family and general practitioners and aesthetic medical spas. The Company was incorporated in the state of Delaware on November 22, 2002. Review of Strategic Alternatives On January 24, 2024, may one There can be no not not Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the foreseeable future, and, as such, the unaudited condensed consolidated financial statements do not The Company has had recurring net operating losses and negative cash flows from operations. As of June 30, 2024 December 31, 2023 a June 30, 2024 December 31, 2023 12 In order to continue its operations, the Company must achieve profitable operations and/or obtain additional equity or debt financing. Until the Company achieves profitability, management plans to fund its operations and capital expenditures with cash on hand, borrowings, and issuance of capital stock. Until the Company generates revenue at a level to support its cost structure, the Company expects to continue to incur substantial operating losses and net cash outflows from operating activities. Given the economic uncertainty in U.S. and international markets, the Company cannot anticipate the extent to which the current financial market conditions will continue to adversely impact the Company’s business and the Company may no may not The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the foreseeable future, and, as such, the unaudited condensed consolidated financial statements do not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and with the instructions to Form 10 10 X. not 10 December 31, 2023 April 1, 2024. six June 30, 2024 not may December 31, 2024. 8 10 The preparation of these condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company as of June 30, 2024 not Amounts reported in thousands within this report are computed based on the amounts in U.S. dollars. As a result, the sum of the components reported in thousands may not may not Accounting Policies The accounting policies the Company follows are set forth in the Company’s audited consolidated financial statements for fiscal year 2023 8 10 no Recently Adopted Accounting Standards In August 2020, No. 2020 06 2020 06” 470 20 815 40 2020 06 2020 06 January 1, 2024, No. 2020 06 January 1, 2024, 2020 06 not Recently Issued Accounting Standards Not In October 2023, No. 2023 06 2023 06" not June 30, 2027. In November 2023, No. 2023 07 2023 07" 280 December 15, 2023, December 15, 2024. In December 2023, No. 2023 09 2023 09" 740 December 15, 2024 |
Note 3 - Net Loss Per Share
Note 3 - Net Loss Per Share | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Net Loss Per Share Basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock warrants and stock options are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following table sets forth the computation of basic and diluted net loss and the weighted average number of shares used in computing basic and diluted net loss per share (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (19,864 ) $ (7,321 ) $ (29,653 ) $ (16,944 ) Net loss allocated to stockholders of the Company $ (19,951 ) $ (7,409 ) $ (29,745 ) $ (17,066 ) Denominator: Weighted-average shares of common stock outstanding used in computing net loss per share, basic 6,550 5,471 6,189 5,355 Weighted-average shares of common stock outstanding used in computing net loss per share, diluted 6,550 5,471 6,189 5,355 Net loss per share: Basic $ (3.05 ) $ (1.35 ) $ (4.81 ) $ (3.19 ) Diluted $ (3.05 ) $ (1.35 ) $ (4.81 ) $ (3.19 ) Due to the net loss, all the outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the quarters ended June 30, 2024 2023 June 30, 2024 June 30, 2023 Options to purchase common stock 1,027,347 1,017,169 Preferred stock 65,848,144 2,872,518 Restricted share units — 2,668 Shares reserved for convertible notes 2,756,227 558,666 Warrants for common stock 1,936,920 1,061,930 Total potential dilutive shares 71,568,638 5,512,951 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. Financial assets and financial liabilities are initially recognized at fair value when the Company becomes a party to the contractual provisions of the financial instrument. Subsequently, all financial instruments are measured at amortized cost using the effective interest method. The financial instruments of the Company consist of cash and cash equivalents, restricted cash, accounts receivable, long-term receivables, lines of credit, trade payables, accrued expenses and other current liabilities, note payable, other long-term liabilities and long-term debt. In view of their nature, the fair value of these financial instruments approximates their carrying amounts. The Company measures the fair value of its financial assets and financial liabilities using the fair value hierarchy. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The accounting guidance establishes a three Level 1 Level 2 1 not Level 3 no Guaranteed investment certificates are classified within Level 2 The Company's convertible note (see Note 13 not 3 3. The following tables set forth the fair value of the Company’s Level 1, 2 3 no 1, 2 3 Fair Value Measurements as of June 30, 2024 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Guaranteed Investment Certificates $ — $ 29 $ — $ 29 Total assets $ — $ 29 $ — $ 29 Liabilities Derivative Liability — — 327 327 Total liabilities $ — $ — $ 327 $ 327 Fair Value Measurements as of December 31, 2023 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Guaranteed Investment Certificates $ — $ 62 $ — $ 62 Total assets $ — $ 62 $ — $ 62 |
Note 5 - Accounts Receivable
Note 5 - Accounts Receivable | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Trade and Financing Receivables [Text Block] | 5. The Company’s products may January 2024, A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset on the Company's unaudited condensed consolidated balance sheets. The Company's financing receivables, consisting of sales-type leases, totaled $25,567 and $32,393 as of June 30, 2024 December 31, 2023 The Company performed an assessment of the allowance for expected credit losses as of June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 A summary of the Company’s accounts receivables is presented below: June 30, December 31, 2024 2023 Gross accounts receivable $ 38,224 $ 47,884 Unearned income (1,636 ) (2,139 ) Allowance for expected credit losses (4,161 ) (7,415 ) $ 32,427 $ 38,330 Reported as: Current trade receivables $ 24,584 $ 29,151 Current unearned interest income (1,198 ) (1,468 ) Long-term trade receivables 9,479 11,318 Long-term unearned interest income (438 ) (671 ) $ 32,427 $ 38,330 Current Venus Prime and subscription agreements are reported as part of accounts receivable. The following are the contractual commitments, net of allowance for expected credit losses, to be received by the Company over the next 5 June 30, Total 2024 2025 2026 2027 2028 Current financing receivables, net of allowance of $ 4,161 $ 16,088 $ 16,088 $ — $ — $ — $ — Long-term financing receivables, net of allowance of $ 0 9,479 — 6,609 2,824 46 — $ 25,567 $ 16,088 $ 6,609 $ 2,824 $ 46 $ — Accounts receivable from our legacy subscription model do not not may The allowance for expected credit losses consisted of the following activity: Balance at January 1, 2023 $ 13,619 Write-offs (7,554 ) Provision 1,350 Balance at December 31, 2023 $ 7,415 Write-offs (2,269 ) Provision 171 Balance at March 31, 2024 $ 5,317 Write-offs (1,429 ) Provision 273 Balance at June 30, 2024 $ 4,161 |
Note 6 - Select Balance Sheet a
Note 6 - Select Balance Sheet and Statement of Operations Information | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Balance Sheet and Income Statement Disclosures [Text Block] | 6. Inventory Inventory consists of the following: June 30, December 31, 2024 2023 Raw materials $ 1,800 $ 1,949 Work-in-progress 1,651 2,048 Finished goods 16,331 19,075 Total inventory $ 19,782 $ 23,072 Additions to inventory are primarily comprised of newly produced units and applicators, refurbishment cost from demonstration units and used equipment which were reacquired during the period from upgraded sale s. The Company expens in cost of goods sold in the three six June 30, 2024, The Company expensed $5,124 and $11,956 in cost of goods sold in the three six June 30, 2023, The Company provides for excess and obsolete inventories when conditions indicate that the inventory cost is not June 30, 2024 December 31, 2023 Property and Equipment, Net Property and equipment, net consist of the following: Useful Lives June 30, December 31, (in years) 2024 2023 Lab equipment tooling and molds 4 – 10 $ 4,356 $ 4,356 Office furniture and equipment 6 – 10 1,222 1,223 Leasehold improvements up to 10 857 854 Computers and software 3 925 919 Vehicles 5 – 7 50 37 Demo units 5 202 214 Total property and equipment 7,612 7,603 Less: Accumulated depreciation (6,486 ) (6,281 ) Total property and equipment, net $ 1,126 $ 1,322 Depreciation expense amounted to $113 and $144 for the three June 30, 2024 2023 six June 30, 2024 2023 Other Current Assets June 30, December 31, 2024 2023 Government remittances (1) $ 739 $ 1,336 Consideration receivable from subsidiaries sale 55 85 Sundry assets and miscellaneous 462 504 Total other current assets $ 1,256 $ 1,925 ( 1 Accrued Expenses and Other Current Liabilities June 30, December 31, 2024 2023 Payroll and related expense $ 2,129 $ 2,260 Accrued expenses 4,890 3,924 Commission accrual 2,230 2,385 Sales and consumption taxes 3,225 3,868 Total accrued expenses and other current liabilities $ 12,474 $ 12,437 Warranty Accrual The following table provides the details of the change in the Company’s warranty accrual: June 30, December 31, 2024 2023 Balance as of the beginning of the period $ 1,363 $ 1,482 Warranties issued during the period 280 933 Warranty costs incurred during the period (233 ) (1,052 ) Balance at the end of the period $ 1,410 $ 1,363 Current 1,139 1,029 Long-term 271 334 Total $ 1,410 $ 1,363 Finance Expenses The following table provides the details of the Company’s finance expenses: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest expense $ 1,830 $ 1,487 $ 3,907 $ 2,930 Change in fair value of derivative liability — — (618 ) — Accretion on long-term debt and amortization of fees 622 66 831 131 Total finance expenses $ 2,452 $ 1,553 $ 4,120 $ 3,061 |
Note 7 - Leases
Note 7 - Leases | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 7. LEASES The following presents the various components of lease costs. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 369 $ 503 $ 755 $ 1,013 Total lease cost $ 369 $ 503 $ 755 $ 1,013 The following table presents supplemental information relating to the cash flows arising from lease transactions. Cash payments related to short-term leases are not Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating cash outflows from operating leases $ 369 $ 503 $ 755 $ 1,013 The following table presents the weighted-average lease term and discount rate for operating leases. At June 30, 2024 2023 Operating leases Weighted-average remaining lease term 1.94 yrs. 3.44 yrs. Weighted-average discount rate 4.00 % 4.00 % The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five Years ending December 31, Operating leases 2024 $ 701 2025 1,294 2026 1,099 2027 592 2028 202 Thereafter 335 Imputed Interest (1) (179 ) Total $ 4,044 ( 1 |
Note 8 - Intangible Assets
Note 8 - Intangible Assets | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. Intangible assets net of accumulated amortization were as follows: At June 30, 2024 Gross Amount Accumulated Amortization Net Amount Customer relationships $ 1,400 $ (568 ) $ 832 Brand 2,500 (1,460 ) 1,040 Technology 16,900 (13,137 ) 3,763 Supplier agreement 3,000 (1,916 ) 1,084 Total intangible assets $ 23,800 $ (17,081 ) $ 6,719 At December 31, 2023 Gross Amount Accumulated Amortization Net Amount Customer relationships $ 1,400 $ (522 ) $ 878 Brand 2,500 (1,330 ) 1,170 Technology 16,900 (11,735 ) 5,165 Supplier agreement 3,000 (1,767 ) 1,233 Total intangible assets $ 23,800 $ (15,354 ) $ 8,446 For the three June 30, 2024 2023 , respectively six June 30, 2024 2023 , respectively Estimated remaining amortization expense for the next five Years ending December 31, 2024 $ 1,746 2025 3,004 2026 657 2027 657 2028 244 Thereafter 411 Total $ 6,719 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. Commitments As of June 30, 2024 June 30, 2024 270 Aggregate future service and purchase commitments with manufacturers as of June 30, 2024 Years ending December 31, Purchase and Service Commitments 2024 $ 9,944 2025 and Thereafter — Total $ 9,944 |
Note 10 - Main Street Term Loan
Note 10 - Main Street Term Loan | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. On December 8, 2020, 13 3 December 9, 2020, five 30 December 8, 2023 December 8, 2024, fifteen December 8, 2025. may On October 4, 2023, December 31, 2023 December 31, 2024 one three one three one On January 18, 2024, 2023 January 31, 2024, February 28, 2024 March 31, 2024 April 30, 2024. On April 23, 2024, May 24, 2024, May 2024 June 2024 June 7, 2024. On May 24, 2024, May 24, 2024, "2024 five 2024 100. 15 On June 7, 2024, June 21, 2024, July 2024 July 8, 2024. As of June 30, 2024 December 31, 2023 The scheduled payments, inclusive of principal and estimated interest, on the outstanding borrowings as of June 30, 2024 As of June 30, 2024 2024 $ 1,936 2025 17,432 Total $ 19,368 |
Note 11 - Madryn Long-term Debt
Note 11 - Madryn Long-term Debt and Convertible Notes | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. On December 8, 2020, 13 3 December 9, 2020, five 30 December 8, 2023 December 8, 2024, fifteen December 8, 2025. may On October 4, 2023, December 31, 2023 December 31, 2024 one three one three one On January 18, 2024, 2023 January 31, 2024, February 28, 2024 March 31, 2024 April 30, 2024. On April 23, 2024, May 24, 2024, May 2024 June 2024 June 7, 2024. On May 24, 2024, May 24, 2024, "2024 five 2024 100. 15 On June 7, 2024, June 21, 2024, July 2024 July 8, 2024. As of June 30, 2024 December 31, 2023 The scheduled payments, inclusive of principal and estimated interest, on the outstanding borrowings as of June 30, 2024 As of June 30, 2024 2024 $ 1,936 2025 17,432 Total $ 19,368 |
Madryn Long Term Debt and Convertible Notes [Member] | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Convertible Notes On October 11, 2016, On December 9, 2020, 10 December 8, 2020, December 9, 2020 ( December 9, 2020 On October 4, 2023, "2023 2023 X X X 5635 3 four December 31, 2023. December 9, 2025 On May 24, 2024, 2024 10 As of June 30, 2024, 2024 In connection with the New Convertible Notes and Notes, the Company recognized interest expense of $861 and $540 during the three June 30, 2024 2023, six June 30, 2024 2023, 815 10 15 not 815, two June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 The scheduled payments, inclusive of principal and interest, on the outstanding borrowings of the Notes and New Convertible Notes as of June 30, 2024 As of June 30, 2024 2024 $ — 2025 30,901 Total $ 30,901 For the three six June 30, 2024 not Bridge Financing On April 23, 2024, “2024 “2024 2024 one May 26, 2024, 2024 Borrowings under the Loan and Security Agreement will bear interest at a rate per annum equal to 12%. On May 26, 2024, The Loan and Security Agreement contains customary representations, warranties and affirmative and negative covenants. In addition, the Loan and Security Agreement contains customary events of default that entitle Madryn Health Partners, LP to cause the Bridge Borrower’s indebtedness under the Loan and Security Agreement to become immediately due and payable, and to exercise remedies against the Bridge Financing Loan Parties and the collateral securing the term loan. Under the Loan and Security Agreement, an event of default will occur if, among other things, any 2024 2024 2024 On May 24, 2024, 2024 10 May 26, 2024 June 7, 2024. June 7, 2024, June 7, 2024 June 21, 2024. June 21, 2024, June 21, 2024 July 8, 2024. The scheduled payments, inclusive of principal and interest of $2.3 million will be paid at maturity. For the three six June 30, 2024, not |
Note 12 - Credit Facility
Note 12 - Credit Facility | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Credit Facility Disclosure [Text Block] | 12. CREDIT FACILITY On August 29, 2018, March 20, 2020, December 9, 2020 August 26, 2021 ( August 29, 2018, March 20, 2020, December 9, 2020 August 26, 2021 ( March 20, 2020, December 9, 2020 August 26, 2021, On August 26, 2021, 30 LIBOR December 10, 2021, August 26, 2021, July 24, 2023 August 26, 2021 As of the expiration of the credit facility, the Company was in compliance with all required covenants. An event of default under this agreement prior to expiration in July 2023 10 |
Note 13 - EW Convertible Notes
Note 13 - EW Convertible Notes | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Convertible Notes [Text Block] | 13. EW CONVERTIBLE NOTES On January 18, 2024, “2024 The 2024 90 SOFR March 31, 2024. 2024 December 9, 2025 may 2024 one 2024 2024 not 2024 2024 2024 The 2024 2024 may, 2024 2024 2024 2024 2024 On January 18, 2024, 2024 2024 Pursuant to the EW Security Agreement, during the continuance of an Event of Default under the 2024 2024 may, The EW Security Agreement contains various covenants that limit the Company’s ability to engage in specified types of transactions. Subject to limited exceptions, these covenants include restrictions on the Company’s ability, to incur, create or permit to exist additional indebtedness, or liens, and to make certain changes to its ownership structure, in each case without the Investor’s consent. On January 18, 2024, 2024 October 4, 2023 ( December 8, 2020 2024 2024 first As of June 30, 2024, 2024 In connection with the 2024 three six June 30, 2024, 2024 815, June 30, 2024 As of June 30, 2024 December 31, 2023, The scheduled payments, inclusive of principal and interest, on the outstanding borrowings as of June 30, 2024 As of June 30, 2024 2024 $ — 2025 2,602 Total $ 2,602 For the three six June 30, 2024, not |
Note 14 - Common Stock Reserved
Note 14 - Common Stock Reserved for Issuance | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Common Stock Reserved For Issuance [Text Block] | 14. The Company is required to reserve and keep available out of its authorized but unissued shares of common stock a number of shares sufficient to affect the exercise of all classes of preferred stock, convertible promissory notes, options granted and available for grant under the incentive plans and warrants to purchase common stock. June 30, 2024 December 31, 2023 Outstanding common stock warrants 1,936,920 1,061,930 Outstanding stock options and RSUs 1,027,347 981,834 Preferred shares 65,848,144 8,889,221 Shares reserved for conversion of future voting preferred share issuance 5,683,843 5,844,213 Shares reserved for future option grants and RSUs 274,899 99,580 Shares reserved for Lincoln Park 702,847 711,180 Shares reserved for Madryn Noteholders 1,300,000 1,300,000 Shares reserved for EW Noteholders 2,100,000 — Total common stock reserved for issuance 78,874,000 18,887,958 |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 15. Common Stock The Company’s common stock confers upon its holders the following rights: • The right to participate and vote in the Company’s stockholder meetings, whether annual or special. Each share will entitle its holder, when attending and participating in the voting in person or via proxy, to one • The right to a share in the distribution of dividends, whether in cash or in the form of bonus shares, the distribution of assets or any other distribution pro rata to the par value of the shares held by them; and • The right to a share in the distribution of the Company’s excess assets upon liquidation pro rata to the par value of the shares held by them. Reverse Stock Split At the annual and special meeting of the Company’s shareholders held on May 10, 2023, one five 1 one fifteen 1 May 11, 2023, one fifteen 1 May 12, 2023. Equity Purchase Agreement with Lincoln Park On June 16, 2020, may may no no 5635 no may From commencement to expiry on July 1, 2022, 2022, December 31, 2022 July 1, 2022, 2022 2022 On July 12, 2022, “2022 July 1, 2022. 2022 may 2022 “2022 2022 2022 may not 2022 “2022 2022 2022 no 2022 2022 five 2022 2022 2022 2022 may not 2022 2022 2022 December 31, 2023 six June 30, 2024, 2022 August 1, 2024. The 2022 November 2022, "2022 2022 2022 30 "2022 2022 November 18, 2022. 2022 2022 2022 Voting Preferred Stock issued in November 2022 As noted above, in November 2022, 2022 November 17, 2022. • Voting Rights. • Liquidation. • Conversion one 2022 30 30 two • Dividends. • Redemption not • Maturity. The 2023 In May 2023, "2023 "2023 may 2023 "2023 December 31, 2025, 2023 May 15, 2023, 2023 • Voting Rights. no two not not • Liquidation. • Conversion one 30 30 • Dividends. • Redemption not • Maturity. On July 6, 2023, 2023 2023 5635 2023 2023 On July 12, 2023, 2023 second 2023 2023 On September 8, 2023, 2023 third 2023 2023 On October 20, 2023, 2023 fourth 2023 2023 Series X On October 4, 2023, X X X X one X X • Voting Rights. X 1 X • Liquidation. X X • Conversion X 1 X • Dividends. X X X • Redemption X not • Maturity. X December 31, 2026. Series Y Convertible Preferred Stock On May 24, 2024, 1 not no • Voting Rights. not • Liquidation. X • Conversion 1 • Dividends. • Redemption not • Maturity. Registered Direct Offering On February 22, 2024, “2024 2024 “2024 The Shares were offered at-the-market under Nasdaq rules and pursuant to the Company’s shelf registration statement on Form S- 3 October 15, 2021 October 25, 2021. The 2024 2024 not 4 2 2024 five may 2024 2024 2024 A holder is not 2024 13 16 2024 may 61 may not On February 27, 2024, Under the SPA, no March 8, 2024, 3 not 3 2024 45 75 no 2024 2024 The SPA contains customary representations, warranties and covenants by the Company, among other customary provisions. H.C. Wainwright & Co., LLC (“HCW”) acted as the Company’s placement agent in connection with Offering. The Company paid HCW consideration consisting of (i) a cash fee equal to 7.0% of the aggregate gross proceeds in the Offering, (ii) a management fee equal to 1.0% of the aggregate gross proceeds in the Offering, (iii) reimbursement of certain expenses and (iv) warrants to acquire up to an aggregate of 57,242 shares of common stock (the “Placement Agent Warrants”). The Placement Agent Warrants are similar to the 2024 2010 In November 2010, “2010 2010 seven ten November 2017 2010 not June 30, 2024 2010 December 31, 2023 2019 Incentive Award Plan The 2019 “2019 2017 September 12, 2017 September 14, 2017. 2017 October 4, 2019. Under the 2019 2019 June 30, 2024 2019 December 31, 2023 2019 first 2020 2029 four The Company recognized stock-based compensation for its employees and non-employees in the accompanying unaudited condensed consolidated statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of sales $ 9 $ 11 $ 19 $ 26 Selling and marketing 60 76 132 185 General and administrative 146 251 376 551 Research and development 24 31 51 88 Total stock-based compensation $ 239 $ 369 $ 578 $ 850 Stock Options The fair value of each option is estimated at the date of grant using the Black-Scholes option pricing formula with the following assumptions: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Expected term (in years) - 6.00 6.00 6.00 Risk-free interest rate - 3.37 % 4.23 % 3.37-3.41 % Expected volatility - 42.72 % 43.06 % 42.98 % Expected dividend rate - 0 % 0 % 0 % Expected Term Volatility not Risk-Free Interest Rate zero Dividend Rate not Fair Value of Common Stock The following table summarizes stock option activity under the Company’s stock option plan: Number of Shares Weighted- Average Exercise Price per Share, $ Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding – January 1, 2024 981,834 $ 19.85 7.58 $ — Options granted 82,000 0.71 - 6 Options exercised - - - — Options forfeited/cancelled (36,487 ) 24.17 - — Outstanding – June 30, 2024 1,027,347 18.17 7.40 $ 6 Exercisable – June 30, 2024 495,617 30.57 6.28 $ — Expected to vest – after June 30, 2024 531,730 $ 6.61 8.45 $ 6 The following tables summarize information about stock options outstanding and exercisable at June 30, 2024 Options Outstanding Options Exercisable Exercise Price Range Number Weighted average remaining contractual term (years) Weighted average Exercise Price Options exercisable Weighted average remaining contractual term (years) Weighted average Exercise Price $0.7051 - $54.60 979,951 7.61 $ 13.70 448,457 6.62 $ 22.15 $63.90 - $119.25 45,196 2.97 99.18 44,960 2.96 99.08 $186.75 - $382.50 1,627 4.24 271.15 1,627 4.24 271.15 $405.00 - $438.75 304 0.86 405.44 304 0.86 405.44 $650.25 - $958.50 269 3.95 727.38 269 3.95 727.38 1,027,347 7.40 $ 18.17 495,617 6.28 $ 30.57 The aggregate intrinsic value of options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those options that had exercise prices lower than the fair value of the Company’s common stock. The total intrinsic value of options exercised were $nil $nil three June 30, 2024 2023, $nil $nil six June 30, 2024 2023, The weighted-average grant date fair value of options granted was $nil three June 30, 2024 2023, six June 30, 2024 2023, three June 30, 2024 2023 six June 30, 2024 2023 |
Note 16 - Income Taxes
Note 16 - Income Taxes | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 16. The Company generated a loss and recognize d $141 of tax expense for the three June 30, 2024 , and $189 of tax expense for the three June 30, 2023 , respectively. T d $178 of tax expense for the six June 30, 2024 , and $424 of tax expense for the six June 30, 2023 , respectively. A reconciliation of income tax expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Loss before income taxes $ (19,723 ) $ (7,132 ) $ (29,475 ) $ (16,520 ) Theoretical tax expense at the statutory rate ( 21 (4,142 ) (1,484 ) (6,190 ) (3,456 ) Differences in jurisdictional tax rates (915 ) (281 ) (1,370 ) (548 ) Valuation allowance 4,836 1,890 7,322 4,332 Non-deductible expenses 362 65 416 97 Other — (1 ) — (1 ) Total income tax provision 141 189 178 424 Net loss $ (19,864 ) $ (7,321 ) $ (29,653 ) $ (16,944 ) Income tax expense is recognized based on the actual loss incurred during the three six June 30, 2024 2023 |
Note 17 - Segment and Geographi
Note 17 - Segment and Geographic Information | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 17. Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company's CODM is its Chief Executive Officer. The Company has determined it operates in a single operating segment and has one not Revenue by geographic location, which is based on the product shipped to location, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 United States $ 9,280 $ 9,757 $ 19,353 $ 20,498 International 7,302 10,318 14,708 20,108 Total revenue $ 16,582 $ 20,075 $ 34,061 $ 40,606 As of June 30, 2024 were located in the United States and $921 December 31, 2023 Revenue by type is a key indicator for providing management with an understanding of the Company’s financial performance, which is organized into four 1. 2. 3. 4. The following table presents revenue by type: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Lease revenue $ 4,517 $ 4,311 $ 8,048 $ 10,072 System revenue 8,588 12,313 19,123 23,377 Product revenue 2,647 2,586 5,204 5,532 Service revenue 830 865 1,686 1,625 Total revenue $ 16,582 $ 20,075 $ 34,061 $ 40,606 In the Form 10 March 31, 2024, May 15, 2024, six June 30, 2024. Reclassification Adjustment Three Months Ended Revenues by region: March 31, 2024 United States $ 993 International (993 ) Total revenue $ — |
Note 18 - Related Party Transac
Note 18 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 18. All amounts were recorded at the exchange amount, which is the amount established and agreed to by the related parties. The following are transactions between the Company and parties related through employment. Distribution agreements On January 1, 2018, three June 30, 2024 2023 $nil six June 30, 2024 2023 $nil June 2023. In 2020, January 1, 2021, three June 30, 2024 2023 , Aexel Biomed purchased products in the amount of $nil six June 30, 2024 2023 , Aexel Biomed purchased products in the amount of $nil June 2023. |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. Loan Amendment and Consent Agreement On July 8, 2024, The Amendment and Consent Agreement granted relief under the MSLP Loan Agreement, as amended, such that (i) certain minimum liquidity requirements under the MSLP Loan Agreement are waived through August 2, 2024, June 30, 2024 Consent Agreement On July 29, 2024, The Consent Agreement granted relief under the MSLP Loan Agreement, such that (i) certain minimum liquidity requirements under the MSLP Loan Agreement are waived through August 30, 2024, August 8, 2024 Fourth Bridge Loan Amendment On July 8, 2024, April 23, 2024, July 8, 2024 August 2, 2024. Fifth Bridge Loan Amendment On July 29, 2024, ten two August 2, 2024 August 30, 2024. Bridge Loan Drawdown As previously disclosed, on April 23, 2024, 2024 On July 26, 2024, “July July July 26, 2024. July |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Jun. 30, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. None |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and with the instructions to Form 10 10 X. not 10 December 31, 2023 April 1, 2024. six June 30, 2024 not may December 31, 2024. 8 10 The preparation of these condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company as of June 30, 2024 not Amounts reported in thousands within this report are computed based on the amounts in U.S. dollars. As a result, the sum of the components reported in thousands may not may not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In August 2020, No. 2020 06 2020 06” 470 20 815 40 2020 06 2020 06 January 1, 2024, No. 2020 06 January 1, 2024, 2020 06 not Recently Issued Accounting Standards Not In October 2023, No. 2023 06 2023 06" not June 30, 2027. In November 2023, No. 2023 07 2023 07" 280 December 15, 2023, December 15, 2024. In December 2023, No. 2023 09 2023 09" 740 December 15, 2024 |
Note 3 - Net Loss Per Share (Ta
Note 3 - Net Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (19,864 ) $ (7,321 ) $ (29,653 ) $ (16,944 ) Net loss allocated to stockholders of the Company $ (19,951 ) $ (7,409 ) $ (29,745 ) $ (17,066 ) Denominator: Weighted-average shares of common stock outstanding used in computing net loss per share, basic 6,550 5,471 6,189 5,355 Weighted-average shares of common stock outstanding used in computing net loss per share, diluted 6,550 5,471 6,189 5,355 Net loss per share: Basic $ (3.05 ) $ (1.35 ) $ (4.81 ) $ (3.19 ) Diluted $ (3.05 ) $ (1.35 ) $ (4.81 ) $ (3.19 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | June 30, 2024 June 30, 2023 Options to purchase common stock 1,027,347 1,017,169 Preferred stock 65,848,144 2,872,518 Restricted share units — 2,668 Shares reserved for convertible notes 2,756,227 558,666 Warrants for common stock 1,936,920 1,061,930 Total potential dilutive shares 71,568,638 5,512,951 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements as of June 30, 2024 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Guaranteed Investment Certificates $ — $ 29 $ — $ 29 Total assets $ — $ 29 $ — $ 29 Liabilities Derivative Liability — — 327 327 Total liabilities $ — $ — $ 327 $ 327 Fair Value Measurements as of December 31, 2023 Quoted Prices in Active Markets using Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Assets Guaranteed Investment Certificates $ — $ 62 $ — $ 62 Total assets $ — $ 62 $ — $ 62 |
Note 5 - Accounts Receivable (T
Note 5 - Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2024 2023 Gross accounts receivable $ 38,224 $ 47,884 Unearned income (1,636 ) (2,139 ) Allowance for expected credit losses (4,161 ) (7,415 ) $ 32,427 $ 38,330 Reported as: Current trade receivables $ 24,584 $ 29,151 Current unearned interest income (1,198 ) (1,468 ) Long-term trade receivables 9,479 11,318 Long-term unearned interest income (438 ) (671 ) $ 32,427 $ 38,330 |
Contractual Commitments, Net of Allowance For Doubtful Accounts To Be Received Maturity [Table Text Block] | June 30, Total 2024 2025 2026 2027 2028 Current financing receivables, net of allowance of $ 4,161 $ 16,088 $ 16,088 $ — $ — $ — $ — Long-term financing receivables, net of allowance of $ 0 9,479 — 6,609 2,824 46 — $ 25,567 $ 16,088 $ 6,609 $ 2,824 $ 46 $ — |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | Balance at January 1, 2023 $ 13,619 Write-offs (7,554 ) Provision 1,350 Balance at December 31, 2023 $ 7,415 Write-offs (2,269 ) Provision 171 Balance at March 31, 2024 $ 5,317 Write-offs (1,429 ) Provision 273 Balance at June 30, 2024 $ 4,161 |
Note 6 - Select Balance Sheet_2
Note 6 - Select Balance Sheet and Statement of Operations Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, December 31, 2024 2023 Raw materials $ 1,800 $ 1,949 Work-in-progress 1,651 2,048 Finished goods 16,331 19,075 Total inventory $ 19,782 $ 23,072 |
Property, Plant and Equipment [Table Text Block] | Useful Lives June 30, December 31, (in years) 2024 2023 Lab equipment tooling and molds 4 – 10 $ 4,356 $ 4,356 Office furniture and equipment 6 – 10 1,222 1,223 Leasehold improvements up to 10 857 854 Computers and software 3 925 919 Vehicles 5 – 7 50 37 Demo units 5 202 214 Total property and equipment 7,612 7,603 Less: Accumulated depreciation (6,486 ) (6,281 ) Total property and equipment, net $ 1,126 $ 1,322 |
Schedule of Other Current Assets [Table Text Block] | June 30, December 31, 2024 2023 Government remittances (1) $ 739 $ 1,336 Consideration receivable from subsidiaries sale 55 85 Sundry assets and miscellaneous 462 504 Total other current assets $ 1,256 $ 1,925 |
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block] | June 30, December 31, 2024 2023 Payroll and related expense $ 2,129 $ 2,260 Accrued expenses 4,890 3,924 Commission accrual 2,230 2,385 Sales and consumption taxes 3,225 3,868 Total accrued expenses and other current liabilities $ 12,474 $ 12,437 |
Schedule of Product Warranty Liability [Table Text Block] | June 30, December 31, 2024 2023 Balance as of the beginning of the period $ 1,363 $ 1,482 Warranties issued during the period 280 933 Warranty costs incurred during the period (233 ) (1,052 ) Balance at the end of the period $ 1,410 $ 1,363 Current 1,139 1,029 Long-term 271 334 Total $ 1,410 $ 1,363 |
Schedule of Finance Expenses [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest expense $ 1,830 $ 1,487 $ 3,907 $ 2,930 Change in fair value of derivative liability — — (618 ) — Accretion on long-term debt and amortization of fees 622 66 831 131 Total finance expenses $ 2,452 $ 1,553 $ 4,120 $ 3,061 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost $ 369 $ 503 $ 755 $ 1,013 Total lease cost $ 369 $ 503 $ 755 $ 1,013 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating cash outflows from operating leases $ 369 $ 503 $ 755 $ 1,013 At June 30, 2024 2023 Operating leases Weighted-average remaining lease term 1.94 yrs. 3.44 yrs. Weighted-average discount rate 4.00 % 4.00 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Years ending December 31, Operating leases 2024 $ 701 2025 1,294 2026 1,099 2027 592 2028 202 Thereafter 335 Imputed Interest (1) (179 ) Total $ 4,044 |
Note 8 - Intangible Assets (Tab
Note 8 - Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | At June 30, 2024 Gross Amount Accumulated Amortization Net Amount Customer relationships $ 1,400 $ (568 ) $ 832 Brand 2,500 (1,460 ) 1,040 Technology 16,900 (13,137 ) 3,763 Supplier agreement 3,000 (1,916 ) 1,084 Total intangible assets $ 23,800 $ (17,081 ) $ 6,719 At December 31, 2023 Gross Amount Accumulated Amortization Net Amount Customer relationships $ 1,400 $ (522 ) $ 878 Brand 2,500 (1,330 ) 1,170 Technology 16,900 (11,735 ) 5,165 Supplier agreement 3,000 (1,767 ) 1,233 Total intangible assets $ 23,800 $ (15,354 ) $ 8,446 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years ending December 31, 2024 $ 1,746 2025 3,004 2026 657 2027 657 2028 244 Thereafter 411 Total $ 6,719 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Years ending December 31, Purchase and Service Commitments 2024 $ 9,944 2025 and Thereafter — Total $ 9,944 |
Note 10 - Main Street Term Lo_2
Note 10 - Main Street Term Loan (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
MSLP Note [Member] | |
Notes Tables | |
Schedule of Maturities of Long-Term Debt [Table Text Block] | As of June 30, 2024 2024 $ 1,936 2025 17,432 Total $ 19,368 |
Note 11 - Madryn Long-term De_2
Note 11 - Madryn Long-term Debt and Convertible Notes (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Secured Subordinated Convertible Notes [Member] | |
Notes Tables | |
Schedule of Maturities of Long-Term Debt [Table Text Block] | As of June 30, 2024 2024 $ — 2025 30,901 Total $ 30,901 |
Note 13 - EW Convertible Notes
Note 13 - EW Convertible Notes (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
The 2024 Notes [Member] | |
Notes Tables | |
Schedule of Maturities of Long-Term Debt [Table Text Block] | As of June 30, 2024 2024 $ — 2025 2,602 Total $ 2,602 |
Note 14 - Common Stock Reserv_2
Note 14 - Common Stock Reserved for Issuance (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Common Stock Reserved for Issuance [Table Text Block] | June 30, 2024 December 31, 2023 Outstanding common stock warrants 1,936,920 1,061,930 Outstanding stock options and RSUs 1,027,347 981,834 Preferred shares 65,848,144 8,889,221 Shares reserved for conversion of future voting preferred share issuance 5,683,843 5,844,213 Shares reserved for future option grants and RSUs 274,899 99,580 Shares reserved for Lincoln Park 702,847 711,180 Shares reserved for Madryn Noteholders 1,300,000 1,300,000 Shares reserved for EW Noteholders 2,100,000 — Total common stock reserved for issuance 78,874,000 18,887,958 |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of sales $ 9 $ 11 $ 19 $ 26 Selling and marketing 60 76 132 185 General and administrative 146 251 376 551 Research and development 24 31 51 88 Total stock-based compensation $ 239 $ 369 $ 578 $ 850 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Expected term (in years) - 6.00 6.00 6.00 Risk-free interest rate - 3.37 % 4.23 % 3.37-3.41 % Expected volatility - 42.72 % 43.06 % 42.98 % Expected dividend rate - 0 % 0 % 0 % |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted- Average Exercise Price per Share, $ Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding – January 1, 2024 981,834 $ 19.85 7.58 $ — Options granted 82,000 0.71 - 6 Options exercised - - - — Options forfeited/cancelled (36,487 ) 24.17 - — Outstanding – June 30, 2024 1,027,347 18.17 7.40 $ 6 Exercisable – June 30, 2024 495,617 30.57 6.28 $ — Expected to vest – after June 30, 2024 531,730 $ 6.61 8.45 $ 6 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Exercise Price Range Number Weighted average remaining contractual term (years) Weighted average Exercise Price Options exercisable Weighted average remaining contractual term (years) Weighted average Exercise Price $0.7051 - $54.60 979,951 7.61 $ 13.70 448,457 6.62 $ 22.15 $63.90 - $119.25 45,196 2.97 99.18 44,960 2.96 99.08 $186.75 - $382.50 1,627 4.24 271.15 1,627 4.24 271.15 $405.00 - $438.75 304 0.86 405.44 304 0.86 405.44 $650.25 - $958.50 269 3.95 727.38 269 3.95 727.38 1,027,347 7.40 $ 18.17 495,617 6.28 $ 30.57 |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Loss before income taxes $ (19,723 ) $ (7,132 ) $ (29,475 ) $ (16,520 ) Theoretical tax expense at the statutory rate ( 21 (4,142 ) (1,484 ) (6,190 ) (3,456 ) Differences in jurisdictional tax rates (915 ) (281 ) (1,370 ) (548 ) Valuation allowance 4,836 1,890 7,322 4,332 Non-deductible expenses 362 65 416 97 Other — (1 ) — (1 ) Total income tax provision 141 189 178 424 Net loss $ (19,864 ) $ (7,321 ) $ (29,653 ) $ (16,944 ) |
Note 17 - Segment and Geograp_2
Note 17 - Segment and Geographic Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 United States $ 9,280 $ 9,757 $ 19,353 $ 20,498 International 7,302 10,318 14,708 20,108 Total revenue $ 16,582 $ 20,075 $ 34,061 $ 40,606 |
Revenue from External Customers by Products and Services [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Lease revenue $ 4,517 $ 4,311 $ 8,048 $ 10,072 System revenue 8,588 12,313 19,123 23,377 Product revenue 2,647 2,586 5,204 5,532 Service revenue 830 865 1,686 1,625 Total revenue $ 16,582 $ 20,075 $ 34,061 $ 40,606 |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | Reclassification Adjustment Three Months Ended Revenues by region: March 31, 2024 United States $ 993 International (993 ) Total revenue $ — |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Retained Earnings (Accumulated Deficit) | $ (291,648) | $ (261,903) |
Note 3 - Net Loss Per Share - C
Note 3 - Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net loss | $ (19,864) | $ (7,321) | $ (29,653) | $ (16,944) |
Net loss allocated to stockholders of the Company | $ (19,951) | $ (7,409) | $ (29,745) | $ (17,066) |
Weighted-average shares of common stock outstanding used in computing net loss per share, basic (in shares) | 6,550 | 5,471 | 6,189 | 5,355 |
Weighted-average shares of common stock outstanding used in computing net loss per share, diluted (in shares) | 6,550 | 5,471 | 6,189 | 5,355 |
Basic (in dollars per share) | $ (3.05) | $ (1.35) | $ (4.81) | $ (3.19) |
Diluted (in dollars per share) | $ (3.05) | $ (1.35) | $ (4.81) | $ (3.19) |
Note 3 - Net Loss Per Share - A
Note 3 - Net Loss Per Share - Antidilutive Securities (Details) - shares | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Total potential dilutive shares (in shares) | 71,568,638 | 5,512,951 |
Share-Based Payment Arrangement, Option [Member] | ||
Total potential dilutive shares (in shares) | 1,027,347 | 1,017,169 |
Performance Shares [Member] | ||
Total potential dilutive shares (in shares) | 65,848,144 | 2,872,518 |
Restricted Stock [Member] | ||
Total potential dilutive shares (in shares) | 0 | 2,668 |
Shares Reserved for Convertible Notes [Member] | ||
Total potential dilutive shares (in shares) | 2,756,227 | 558,666 |
Warrant [Member] | ||
Total potential dilutive shares (in shares) | 1,936,920 | 1,061,930 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Fair Value Measurements (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Assets, fair value | $ 29 | $ 62 |
Derivative Liability | 327 | |
Total liabilities | 327 | |
Guaranteed Investment Certificates [Member] | ||
Assets, fair value | 29 | 62 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Derivative Liability | 0 | |
Total liabilities | 0 | |
Fair Value, Inputs, Level 1 [Member] | Guaranteed Investment Certificates [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 29 | 62 |
Derivative Liability | 0 | |
Total liabilities | 0 | |
Fair Value, Inputs, Level 2 [Member] | Guaranteed Investment Certificates [Member] | ||
Assets, fair value | 29 | 62 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Derivative Liability | 327 | |
Total liabilities | 327 | |
Fair Value, Inputs, Level 3 [Member] | Guaranteed Investment Certificates [Member] | ||
Assets, fair value | $ 0 | $ 0 |
Note 5 - Accounts Receivable (D
Note 5 - Accounts Receivable (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Lessor, Sales-type Lease, Term of Contract (Month) | 36 months | |||
Sales-type and Direct Financing Leases, Lease Receivable | $ 25,567 | $ 32,393 | ||
Accounts Receivable, Allowance for Credit Loss | $ 4,161 | $ 5,317 | $ 7,415 | $ 13,619 |
Note 5 - Accounts Receivable -
Note 5 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Gross accounts receivable | $ 38,224 | $ 47,884 | ||
Unearned income | (1,636) | (2,139) | ||
Allowance for expected credit losses | (4,161) | $ (5,317) | (7,415) | $ (13,619) |
Accounts Receivable, after Allowance for Credit Loss | 32,427 | 38,330 | ||
Current trade receivables | 24,584 | 29,151 | ||
Current unearned interest income | (1,198) | (1,468) | ||
Long-term trade receivables | 9,479 | 11,318 | ||
Long-term unearned interest income | $ (438) | $ (671) |
Note 5 - Accounts Receivable _2
Note 5 - Accounts Receivable - Schedule of Contractual Commitments, Net of Allowance for Doubtful Accounts (Details) $ in Thousands | Jun. 30, 2024 USD ($) |
Financing receivables, net | $ 25,567 |
2024, financing receivables, net | 16,088 |
2025, financing receivables, net | 6,609 |
2026, financing receivables, net | 2,824 |
2027, financing receivables, net | 46 |
2028, financing receivables, net | 0 |
Current Financing Receivables, Net Of Allowance [Member] | |
Financing receivables, net | 16,088 |
2024, financing receivables, net | 16,088 |
2025, financing receivables, net | 0 |
2026, financing receivables, net | 0 |
2027, financing receivables, net | 0 |
2028, financing receivables, net | 0 |
Noncurrent Financing Receivables, Net Of Allowance [Member] | |
Financing receivables, net | 9,479 |
2024, financing receivables, net | 0 |
2025, financing receivables, net | 6,609 |
2026, financing receivables, net | 2,824 |
2027, financing receivables, net | 46 |
2028, financing receivables, net | $ 0 |
Note 5 - Accounts Receivable _3
Note 5 - Accounts Receivable - Schedule of Contractual Commitments, Net of Allowance for Doubtful Accounts (Details) (Parentheticals) $ in Thousands | Jun. 30, 2024 USD ($) |
Current Financing Receivables, Net Of Allowance [Member] | |
Allowance, current financing receivables, net | $ 4,161 |
Noncurrent Financing Receivables, Net Of Allowance [Member] | |
Allowance, noncurrent financing receivables, net | $ 0 |
Note 5 - Accounts Receivable _4
Note 5 - Accounts Receivable - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Balance | $ 5,317 | $ 7,415 | $ 7,415 | $ 13,619 | $ 13,619 |
Write-offs | (1,429) | (2,269) | (7,554) | ||
Provision | 273 | 171 | 444 | $ 977 | 1,350 |
Balance | $ 4,161 | $ 5,317 | $ 4,161 | $ 7,415 |
Note 6 - Select Balance Sheet_3
Note 6 - Select Balance Sheet and Statement of Operations Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Cost, Direct Material | $ 4,084 | $ 5,124 | $ 9,203 | $ 11,956 | |
Inventory Valuation Reserves | 3,272 | 3,272 | $ 2,733 | ||
Depreciation | $ 113 | $ 225 | $ 144 | $ 309 |
Note 6 - Select Balance Sheet_4
Note 6 - Select Balance Sheet and Statement of Operations Information - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Raw materials | $ 1,800 | $ 1,949 |
Work-in-progress | 1,651 | 2,048 |
Finished goods | 16,331 | 19,075 |
Total inventory | $ 19,782 | $ 23,072 |
Note 6 - Select Balance Sheet_5
Note 6 - Select Balance Sheet and Statement of Operations Information - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Lab equipment tooling and molds | $ 4,356 | $ 4,356 |
Office furniture and equipment | 1,222 | 1,223 |
Leasehold improvements | 857 | 854 |
Computers and software | 925 | 919 |
Vehicles | 50 | 37 |
Demo units | 202 | 214 |
Total property and equipment | 7,612 | 7,603 |
Less: Accumulated depreciation | (6,486) | (6,281) |
Total property and equipment, net | $ 1,126 | $ 1,322 |
Tools, Dies and Molds [Member] | Minimum [Member] | ||
Property and equipment, Useful lives (Year) | 4 years | |
Tools, Dies and Molds [Member] | Maximum [Member] | ||
Property and equipment, Useful lives (Year) | 10 years | |
Office Equipment [Member] | Minimum [Member] | ||
Property and equipment, Useful lives (Year) | 6 years | |
Office Equipment [Member] | Maximum [Member] | ||
Property and equipment, Useful lives (Year) | 10 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Property and equipment, Useful lives (Year) | 10 years | |
Computer Equipment [Member] | ||
Property and equipment, Useful lives (Year) | 3 years | |
Vehicles [Member] | Minimum [Member] | ||
Property and equipment, Useful lives (Year) | 5 years | |
Vehicles [Member] | Maximum [Member] | ||
Property and equipment, Useful lives (Year) | 7 years | |
Demo Units [Member] | ||
Property and equipment, Useful lives (Year) | 5 years |
Note 6 - Select Balance Sheet_6
Note 6 - Select Balance Sheet and Statement of Operations Information - Other Current Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 | |
Government remittances (1) | [1] | $ 739 | $ 1,336 |
Consideration receivable from subsidiaries sale | 55 | 85 | |
Sundry assets and miscellaneous | 462 | 504 | |
Total other current assets | $ 1,256 | $ 1,925 | |
[1]Government remittances are receivables from the local tax authorities for refunds of sales taxes and income taxes. |
Note 6 - Select Balance Sheet_7
Note 6 - Select Balance Sheet and Statement of Operations Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Payroll and related expense | $ 2,129 | $ 2,260 |
Accrued expenses | 4,890 | 3,924 |
Commission accrual | 2,230 | 2,385 |
Sales and consumption taxes | 3,225 | 3,868 |
Total accrued expenses and other current liabilities | $ 12,474 | $ 12,437 |
Note 6 - Select Balance Sheet_8
Note 6 - Select Balance Sheet and Statement of Operations Information - Warranty Accrual (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Balance as of the beginning of the period | $ 1,363 | $ 1,482 |
Warranties issued during the period | 280 | 933 |
Warranty costs incurred during the period | (233) | (1,052) |
Balance at the end of the period | 1,410 | 1,363 |
Current | 1,139 | 1,029 |
Long-term | 271 | 334 |
Total | $ 1,410 | $ 1,363 |
Note 6 - Select Balance Sheet_9
Note 6 - Select Balance Sheet and Statement of Operations Information - Finance Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Interest expense | $ 1,830 | $ 1,487 | $ 3,907 | $ 2,930 |
Change in fair value of derivative liability | 0 | 0 | (618) | 0 |
Accretion on long-term debt and amortization of fees | 622 | 66 | 831 | 131 |
Total finance expenses | $ 2,452 | $ 1,553 | $ 4,120 | $ 3,061 |
Note 7 - Leases - Lease Cost (D
Note 7 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Operating lease cost | $ 369 | $ 503 | $ 755 | $ 1,013 | |
Total lease cost | 369 | 503 | 755 | 1,013 | |
Operating cash outflows from operating leases | $ 369 | $ 503 | $ 755 | $ 1,013 | |
Weighted-average remaining lease term (Year) | 1 year 11 months 8 days | 1 year 11 months 8 days | 3 years 5 months 8 days | ||
Weighted-average discount rate | 4% | 4% | 4% |
Note 7 - Leases - Operating Lea
Note 7 - Leases - Operating Lease Maturity (Details) $ in Thousands | Jun. 30, 2024 USD ($) | |
2024 | $ 701 | |
2025 | 1,294 | |
2026 | 1,099 | |
2027 | 592 | |
2028 | 202 | |
Thereafter | 335 | |
Imputed Interest (1) | (179) | [1] |
Total | $ 4,044 | |
[1]Imputed interest represents the difference between undiscounted cash flows and cash flows. |
Note 8 - Intangible Assets (Det
Note 8 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Amortization of Intangible Assets | $ 863 | $ 866 | $ 1,727 | $ 1,722 |
Note 8 - Intangible Assets - Sc
Note 8 - Intangible Assets - Schedule of Intangible Assets Net of Accumulated Amortization and Goodwill (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Gross Amount | $ 23,800 | $ 23,800 |
Accumulated amortization | (17,081) | (15,354) |
Net Amount | 6,719 | 8,446 |
Customer Relationships [Member] | ||
Gross Amount | 1,400 | 1,400 |
Accumulated amortization | (568) | (522) |
Net Amount | 832 | 878 |
Brand [Member] | ||
Gross Amount | 2,500 | 2,500 |
Accumulated amortization | (1,460) | (1,330) |
Net Amount | 1,040 | 1,170 |
Technology [Member] | ||
Gross Amount | 16,900 | 16,900 |
Accumulated amortization | (13,137) | (11,735) |
Net Amount | 3,763 | 5,165 |
Supplier Agreement [Member] | ||
Gross Amount | 3,000 | 3,000 |
Accumulated amortization | (1,916) | (1,767) |
Net Amount | $ 1,084 | $ 1,233 |
Note 8 - Intangible Assets - Es
Note 8 - Intangible Assets - Estimated Amortization (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
2024 | $ 1,746 | |
2025 | 3,004 | |
2026 | 657 | |
2027 | 657 | |
2028 | 244 | |
Thereafter | 411 | |
Total | $ 6,719 | $ 8,446 |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) $ in Thousands | Jun. 30, 2024 USD ($) |
Purchase Obligation | $ 9,944 |
Contract Manufacturers [Member] | |
Purchase Obligation | 9,900 |
Open Purchase Order [Member] | |
Purchase Obligation | $ 0 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Contractual Obligation Maturity (Details) $ in Thousands | Jun. 30, 2024 USD ($) |
2024 | $ 9,944 |
2025 and Thereafter | 0 |
Total | $ 9,944 |
Note 10 - Main Street Term Lo_3
Note 10 - Main Street Term Loan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
May 24, 2024 | Oct. 04, 2023 | Dec. 08, 2020 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Gain (Loss) on Extinguishment of Debt | $ (10,901) | $ 0 | $ (10,901) | $ 0 | |||
Conversion of MSLP Note [Member] | |||||||
Debt Conversion, Original Debt, Amount | $ 52,142 | ||||||
Gain (Loss) on Extinguishment of Debt | (10,900) | ||||||
Conversion of Debt into New Note [Member] | |||||||
Debt Conversion, Converted Instrument, Amount | $ 17,142 | ||||||
Conversion of Debt Into Series Y Convertible Preferred Stock [Member] | |||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 576,986 | ||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 60.66 | ||||||
MSLP Note [Member] | |||||||
Debt Instrument, Face Amount | $ 50,000 | ||||||
Debt Instrument, Term (Year) | 5 years | ||||||
MSLP Note [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||
Debt Instrument, Percentage of Outstanding Principal to be Paid with Accrued Unpaid Interest | 15% | ||||||
MSLP Note [Member] | Debt Instrument, Redemption, Period Two [Member] | |||||||
Debt Instrument, Percentage of Outstanding Principal to be Paid with Accrued Unpaid Interest | 7.50% | 15% | |||||
MSLP Note [Member] | London Interbank Offered Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 3% | ||||||
MSLP Note [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% |
Note 10 - Main Street Term Lo_4
Note 10 - Main Street Term Loan - Schedule Payments on Outstanding Borrowings (Details) - MSLP Note [Member] $ in Thousands | Jun. 30, 2024 USD ($) |
2024 | $ 1,936 |
2025 | 17,432 |
Total | $ 19,368 |
Note 11 - Madryn Long-term De_3
Note 11 - Madryn Long-term Debt and Convertible Notes (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Oct. 04, 2023 | Dec. 09, 2020 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Apr. 23, 2024 | |
Gain (Loss) on Extinguishment of Debt | $ (10,901) | $ 0 | $ (10,901) | $ 0 | |||
Interest Expense, Debt | 1,830 | 1,487 | 3,907 | 2,930 | |||
Series X Convertible Preferred Stock [Member][ | |||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 20.1 | ||||||
Madryn Noteholders [Member] | Conversion from Madryn Noteholders, Outstanding Debt Converted to Convertible Instruments [Member] | Series X Convertible Preferred Stock [Member][ | |||||||
Debt Conversion, Original Debt, Amount | $ 26,695 | ||||||
Debt Conversion, Converted Instrument, Amount | $ 22,792 | ||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 248,755 | ||||||
Gain (Loss) on Extinguishment of Debt | $ (2,000) | ||||||
Madryn Credit Agreement [Member] | |||||||
Repayments of Debt | $ 42,500 | ||||||
Secured Subordinated Convertible Notes [Member] | |||||||
Long-Term Debt | 30,901 | 30,901 | |||||
Secured Subordinated Convertible Notes [Member] | Madryn Noteholders [Member] | |||||||
Debt Instrument, Face Amount | $ 26,700 | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 8.5 | ||||||
Debt Instrument, Default, Increase in Interest Rate | 4% | ||||||
Long-Term Debt, Gross | 25,300 | 25,300 | |||||
Interest Expense, Debt | 861 | $ 540 | 1,695 | $ 1,074 | |||
Repayments of Long-Term Debt | 0 | 0 | |||||
Debt Instrument, Maturity Date | Dec. 09, 2025 | ||||||
Bridge Financing [Member] | Madryn Noteholders [Member] | |||||||
Debt Instrument, Face Amount | $ 2,238 | ||||||
Repayments of Long-Term Debt | 0 | 0 | |||||
Debt Instrument, Maximum Additional Principal | $ 2,762 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 12% | ||||||
Debt Instrument, Default Interest Rate | 15% | ||||||
Long-Term Debt | $ 2,300 | $ 2,300 |
Note 11 - Madryn Long-term De_4
Note 11 - Madryn Long-term Debt and Convertible Notes - Scheduled Payments (Details) - Secured Subordinated Convertible Notes [Member] $ in Thousands | Jun. 30, 2024 USD ($) |
2024 | $ 0 |
2025 | 30,901 |
Total | $ 30,901 |
Note 12 - Credit Facility (Deta
Note 12 - Credit Facility (Details Textual) - USD ($) $ in Millions | Jan. 18, 2024 | Aug. 26, 2021 | Dec. 09, 2020 |
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Secured Overnight Financing Rate (SOFR) [Member] | London Interbank Offered Rate [Member] | |
City National Bank of Florida [Member] | CNB Note [Member] | |||
Debt Instrument, Face Amount | $ 5 | ||
Debt Instrument, Maturity Date | Jul. 24, 2023 | ||
City National Bank of Florida [Member] | Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5 | $ 10 | |
Debt Instrument, Basis Spread on Variable Rate | 3.25% | ||
Debt Instrument, LIBOR Floor | 0.50% | ||
Line of Credit Facility, Minimum Deposit Required | $ 1.5 | $ 3 |
Note 13 - EW Convertible Note_2
Note 13 - EW Convertible Notes (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jan. 18, 2024 | Aug. 26, 2021 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Mar. 31, 2024 | |
Proceeds from Convertible Debt | $ 1,607 | $ 0 | |||||
Interest Expense, Debt | $ 1,830 | $ 1,487 | 3,907 | $ 2,930 | |||
Derivative Liability | 327 | 327 | |||||
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | Secured Overnight Financing Rate (SOFR) [Member] | London Interbank Offered Rate [Member] | |||||
The 2024 Notes [Member] | EW Investors [Member] | |||||||
Proceeds from Convertible Debt | $ 2,000 | ||||||
Debt Instrument, Basis Spread on Variable Rate | 8.50% | ||||||
Debt Instrument, Default, Increase in Interest Rate | 4% | ||||||
Debt Instrument, Convertible, Conversion Ratio | 799.3605 | ||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.251 | ||||||
Long-Term Debt, Gross | $ 2,100 | ||||||
Interest Expense, Debt | 57 | 100 | |||||
Derivative Liability | $ 900 | 300 | 300 | ||||
Repayments of Convertible Debt | $ 0 | $ 0 | |||||
Debt Instrument, Maturity Date | Dec. 09, 2025 |
Note 13 - EW Convertible Note_3
Note 13 - EW Convertible Notes - Scheduled Payments (Details) - The 2024 Notes [Member] - EW Investors [Member] $ in Thousands | Jun. 30, 2024 USD ($) |
2024 | $ 0 |
2025 | 2,602 |
Total | $ 2,602 |
Note 14 - Common Stock Reserv_3
Note 14 - Common Stock Reserved for Issuance - Common Stock Reserved for Issuance (Details) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Outstanding stock options and RSUs (in dollars per share) | $ 1,027,347 | $ 981,834 |
Shares reserved for future option grants and RSUs (in shares) | 274,899 | 99,580 |
Total common stock reserved for issuance (in shares) | 78,874,000 | 18,887,958 |
Lincoln Park [Member] | ||
Total common stock reserved for issuance (in shares) | 702,847 | 711,180 |
Madryn Noteholders [Member] | ||
Total common stock reserved for issuance (in shares) | 1,300,000 | 1,300,000 |
EW Investors [Member] | ||
Total common stock reserved for issuance (in shares) | 2,100,000 | 0 |
Non-Voting Preferred Stock [Member] | ||
Shares reserved for conversion of future preferred share issuance (in shares) | 5,683,843 | 5,844,213 |
Common Stock [Member] | ||
Outstanding common stock warrants (in shares) | 1,936,920 | 1,061,930 |
Preferred Stock [Member] | ||
Preferred shares (in shares) | 65,848,144 | 8,889,221 |
Note 15 - Stockholders' Equit_2
Note 15 - Stockholders' Equity (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 17 Months Ended | 24 Months Ended | |||||||||||||||||||
Feb. 27, 2024 USD ($) $ / shares shares | Oct. 20, 2023 USD ($) shares | Oct. 04, 2023 $ / shares shares | Sep. 08, 2023 USD ($) shares | Jul. 12, 2023 USD ($) shares | May 15, 2023 USD ($) shares | May 11, 2023 | May 10, 2023 | Jul. 12, 2022 USD ($) $ / shares shares | Nov. 30, 2022 USD ($) $ / shares shares | Nov. 30, 2017 | Nov. 30, 2010 | Jun. 30, 2024 USD ($) $ / shares shares | Mar. 31, 2024 shares | Jun. 30, 2023 USD ($) $ / shares shares | Mar. 31, 2023 shares | [1] | Jun. 30, 2024 USD ($) $ / shares shares | Jun. 30, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) $ / shares shares | May 24, 2024 USD ($) shares | May 31, 2023 USD ($) $ / shares | Jun. 16, 2020 USD ($) $ / shares shares | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 10,000 | $ 1,109,000 | |||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ | $ 0 | 1,633,000 | |||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 78,874,000 | 78,874,000 | 18,887,958 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ | $ 0 | ||||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 0 | $ 3.38 | $ 0.705 | $ 2.89 | |||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ | $ 264,000 | $ 322,000 | $ 625,000 | $ 681,000 | |||||||||||||||||||||
The 2010 Share Option Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 10 years | 7 years | |||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 18,659 | 18,659 | 28,168 | ||||||||||||||||||||||
The 2019 Plan [Member] | |||||||||||||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 256,240 | 256,240 | 71,412 | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 30,000 | 30,000 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Increase in Authorized Shares, Percentage of Outstanding Stock Maximum | 4% | ||||||||||||||||||||||||
The 2024 Investor Warrants [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 817,748 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.34 | ||||||||||||||||||||||||
Voting Preferred Stock [Member] | |||||||||||||||||||||||||
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 30 | ||||||||||||||||||||||||
Preferred Stock, Convertible, Conversion Ratio | 0.6667 | ||||||||||||||||||||||||
Preferred Stock, Convertible, Volume Weighted Average Price Per Common Share (in dollars per share) | $ / shares | $ 18.75 | ||||||||||||||||||||||||
Senior Preferred Stock [Member] | |||||||||||||||||||||||||
Preferred Stock, Convertible, Conversion Ratio | 2.6667 | ||||||||||||||||||||||||
Liquidation Preference, Multiplier | 2.5 | ||||||||||||||||||||||||
Conversion Price, Benchmark, Multiplier | 2.75 | ||||||||||||||||||||||||
Series X Convertible Preferred Stock [Member][ | |||||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 20.1 | ||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||||||||||
Preferred Stock, Convertible, Conversion Ratio | 10 | ||||||||||||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 400,000 | ||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 12.50% | ||||||||||||||||||||||||
Series Y Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Preferred Stock, Convertible, Conversion Ratio | 100 | ||||||||||||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 600,000 | ||||||||||||||||||||||||
Preferred Stock, Convertible, Minimum Proceeds From Conversion | $ | $ 30,000,000 | ||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 8,333 | 118,729 | 224,378 | ||||||||||||||||||||||
H.C. Wainwright & Co., LLC [Member] | Placement Agent Warrants [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 57,242 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.8313 | ||||||||||||||||||||||||
Equity Purchase Agreement [Member] | Lincoln Park [Member] | |||||||||||||||||||||||||
Equity Purchase Agreement, Maximum Offering Amount | $ | $ 31,000,000 | ||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||||||||||
Equity Purchase Agreement, Maximum Shares Issuable (in shares) | 517,560 | ||||||||||||||||||||||||
Equity Agreement, Maximum Percentage of Stock Outstanding | 19.99% | ||||||||||||||||||||||||
Equity Agreement, Minimum Average Purchase Price (in dollars per share) | $ / shares | $ 59.6325 | ||||||||||||||||||||||||
Maximum Percentage of Outstanding Stock, Beneficial Ownership | 9.99% | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 26,666,000 | 229,139 | |||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 40.5 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Commitment Fee (in shares) | 13,971 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Commitment Fee | $ | $ 620,000 | ||||||||||||||||||||||||
Deferred Offering Costs | $ | $ 0 | $ 123,000 | |||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 272,000 | ||||||||||||||||||||||||
LPC Purchase Agreement 2022 [Member] | Lincoln Park [Member] | |||||||||||||||||||||||||
Equity Purchase Agreement, Maximum Offering Amount | $ | $ 11,000,000 | ||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||||||||||
Equity Purchase Agreement, Maximum Shares Issuable (in shares) | 858,224 | ||||||||||||||||||||||||
Equity Agreement, Maximum Percentage of Stock Outstanding | 19.99% | ||||||||||||||||||||||||
Maximum Percentage of Outstanding Stock, Beneficial Ownership | 9.99% | ||||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.16 | $ 1.16 | $ 3.966 | ||||||||||||||||||||||
Stock Issued During Period, Shares, Commitment Fee (in shares) | 45,701 | 8,333 | 776,452 | ||||||||||||||||||||||
Stock Issued During Period, Value, Commitment Fee | $ | $ 330,000 | $ 10,000 | $ 3,080,000 | ||||||||||||||||||||||
The 2022 Private Placement [Member] | |||||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ | $ 6,720,000 | ||||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 202,000 | ||||||||||||||||||||||||
The 2022 Private Placement [Member] | Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 3,185,000 | ||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||||||||||
Preferred Stock, Convertible, Shares Issuable (in shares) | 2,123,443 | ||||||||||||||||||||||||
The 2022 Private Placement [Member] | Common Stock [Member] | |||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 116,668 | ||||||||||||||||||||||||
Multi-Tranche Private Placement 2023 [Member] | |||||||||||||||||||||||||
Equity Purchase Agreement, Maximum Offering Amount | $ | $ 9,000,000 | ||||||||||||||||||||||||
Equity Purchase Agreement, Minimum Aggregate Purchase Amount Per Tranche | $ | $ 500,000 | ||||||||||||||||||||||||
Multi-Tranche Private Placement 2023 [Member] | Senior Preferred Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 502,513 | 292,398 | 500,000 | 280,899 | |||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.0001 | ||||||||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 2,000,000 | $ 1,000,000 | $ 2,000,000 | $ 2,000,000 | |||||||||||||||||||||
Registered Direct Offering [Member] | |||||||||||||||||||||||||
Maximum Percentage of Outstanding Stock, Beneficial Ownership | 4.99% | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 817,748 | ||||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.465 | ||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 1,200,000 | ||||||||||||||||||||||||
Registered Direct Offering [Member] | H.C. Wainwright & Co., LLC [Member] | |||||||||||||||||||||||||
Placement Agent Fee, Percentage of Gross Proceeds | 7% | ||||||||||||||||||||||||
Management Fee, Percentage of Gross Proceeds | 1% | ||||||||||||||||||||||||
Maximum [Member] | Registered Direct Offering [Member] | |||||||||||||||||||||||||
Maximum Percentage of Outstanding Stock, Beneficial Ownership | 9.99% | ||||||||||||||||||||||||
Reverse Stock Split [Member] | |||||||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 15 | ||||||||||||||||||||||||
Reverse Stock Split [Member] | Minimum [Member] | |||||||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 5 | ||||||||||||||||||||||||
Reverse Stock Split [Member] | Maximum [Member] | |||||||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 15 | ||||||||||||||||||||||||
[1]Presented as $0 due to rounding. |
Note 15 - Stockholders' Equit_3
Note 15 - Stockholders' Equity - Stock-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Total stock-based compensation | $ 239 | $ 369 | $ 578 | $ 850 |
Cost of Sales [Member] | ||||
Total stock-based compensation | 9 | 11 | 19 | 26 |
Selling and Marketing Expense [Member] | ||||
Total stock-based compensation | 60 | 76 | 132 | 185 |
General and Administrative Expense [Member] | ||||
Total stock-based compensation | 146 | 251 | 376 | 551 |
Research and Development Expense [Member] | ||||
Total stock-based compensation | $ 24 | $ 31 | $ 51 | $ 88 |
Note 15 - Stockholders' Equit_4
Note 15 - Stockholders' Equity - Stock Options Assumptions (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Expected term (in years) (Year) | 6 years | 6 years | 6 years | |
Risk-free interest rate | 0% | 3.37% | 4.23% | |
Expected volatility | 0% | 42.72% | 43.06% | 42.98% |
Expected dividend rate | 0% | 0% | 0% | 0% |
Minimum [Member] | ||||
Risk-free interest rate | 3.37% | |||
Maximum [Member] | ||||
Risk-free interest rate | 3.41% |
Note 15 - Stockholders' Equit_5
Note 15 - Stockholders' Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Outstanding, number of shares (in shares) | 981,834 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 19.85 | |
Outstanding, weighted average remaining contractual term (Year) | 7 years 4 months 24 days | 7 years 6 months 29 days |
Options granted, number of shares (in shares) | 82,000 | |
Options granted, weighted average exercise price (in dollars per share) | $ 0.71 | |
Options granted, aggregate intrinsic value | $ 6 | |
Options exercised, number of shares (in shares) | 0 | |
Options exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Options forfeited/cancelled, number of shares (in shares) | (36,487) | |
Options forfeited/cancelled, weighted average exercise price (in dollars per share) | $ 24.17 | |
Outstanding, number of shares (in shares) | 1,027,347 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 18.17 | |
Outstanding, aggregate intrinsic value | $ 6 | |
Exercisable, number of shares (in shares) | 495,617 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 30.57 | |
Exercisable, weighted average remaining contractual term (Year) | 6 years 3 months 10 days | |
Exercisable, aggregate intrinsic value | $ 0 | |
Expected to vest, number of shares (in shares) | 531,730 | |
Expected to vest, weighted average exercise price (in dollars per share) | $ 6.61 | |
Expected to vest, weighted average remaining contractual term (Year) | 8 years 5 months 12 days | |
Expected to vest, aggregate intrinsic value | $ 6 |
Note 15 - Stockholders' Equit_6
Note 15 - Stockholders' Equity - Stock Options Outstanding and Exercisable (Details) | 6 Months Ended |
Jun. 30, 2024 $ / shares shares | |
Options outstanding, number (in shares) | shares | 1,027,347 |
Options outstanding, weighted average remaining contractual term (Year) | 7 years 4 months 24 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 18.17 |
Options exercisable (in shares) | shares | 495,617 |
Options exercisable, weighted average remaining contractual term (Year) | 6 years 3 months 10 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 30.57 |
Range One [Member] | |
Exercise price range, lower limit (in dollars per share) | 0.7051 |
Exercise price range, upper limit (in dollars per share) | $ 54.6 |
Options outstanding, number (in shares) | shares | 979,951 |
Options outstanding, weighted average remaining contractual term (Year) | 7 years 7 months 9 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 13.7 |
Options exercisable (in shares) | shares | 448,457 |
Options exercisable, weighted average remaining contractual term (Year) | 6 years 7 months 13 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 22.15 |
Range Two [Member] | |
Exercise price range, lower limit (in dollars per share) | 63.9 |
Exercise price range, upper limit (in dollars per share) | $ 119.25 |
Options outstanding, number (in shares) | shares | 45,196 |
Options outstanding, weighted average remaining contractual term (Year) | 2 years 11 months 19 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 99.18 |
Options exercisable (in shares) | shares | 44,960 |
Options exercisable, weighted average remaining contractual term (Year) | 2 years 11 months 15 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 99.08 |
Range Three [Member] | |
Exercise price range, lower limit (in dollars per share) | 186.75 |
Exercise price range, upper limit (in dollars per share) | $ 382.5 |
Options outstanding, number (in shares) | shares | 1,627 |
Options outstanding, weighted average remaining contractual term (Year) | 4 years 2 months 26 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 271.15 |
Options exercisable (in shares) | shares | 1,627 |
Options exercisable, weighted average remaining contractual term (Year) | 4 years 2 months 26 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 271.15 |
Range Four [Member] | |
Exercise price range, lower limit (in dollars per share) | 405 |
Exercise price range, upper limit (in dollars per share) | $ 483.75 |
Options outstanding, number (in shares) | shares | 304 |
Options outstanding, weighted average remaining contractual term (Year) | 10 months 9 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 405.44 |
Options exercisable (in shares) | shares | 304 |
Options exercisable, weighted average remaining contractual term (Year) | 10 months 9 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 405.44 |
Range Five [Member] | |
Exercise price range, lower limit (in dollars per share) | 650.25 |
Exercise price range, upper limit (in dollars per share) | $ 958.5 |
Options outstanding, number (in shares) | shares | 269 |
Options outstanding, weighted average remaining contractual term (Year) | 3 years 11 months 12 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 727.38 |
Options exercisable (in shares) | shares | 269 |
Options exercisable, weighted average remaining contractual term (Year) | 3 years 11 months 12 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 727.38 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Income Tax Expense (Benefit) | $ 141 | $ 189 | $ 178 | $ 424 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Loss before income taxes | $ (19,723) | $ (7,132) | $ (29,475) | $ (16,520) |
Theoretical tax expense at the statutory rate (21% in 2024 and 2023) | (4,142) | (1,484) | (6,190) | (3,456) |
Differences in jurisdictional tax rates | (915) | (281) | (1,370) | (548) |
Valuation allowance | 4,836 | 1,890 | 7,322 | 4,332 |
Non-deductible expenses | 362 | 65 | 416 | 97 |
Other | 0 | (1) | 0 | (1) |
Total income tax provision | 141 | 189 | 178 | 424 |
Net loss | $ (19,864) | $ (7,321) | $ (29,653) | $ (16,944) |
Note 16 - Income Taxes - Reco_2
Note 16 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) (Parentheticals) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statutory Rate | 21% | 21% | 21% | 21% |
Note 17 - Segment and Geograp_3
Note 17 - Segment and Geographic Information (Details Textual) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 USD ($) | Dec. 31, 2023 USD ($) | |
Number of Reportable Segments | 1 | |
Number of Operating Segments | 1 | |
Leases [Member] | ||
Sales with Typical Lease Terms (Month) | 36 months | |
System [Member] | ||
Sales with Payment Terms (Month) | 12 months | |
UNITED STATES | ||
Long-Lived Assets | $ 6,924 | $ 8,705 |
Non-US [Member] | ||
Long-Lived Assets | $ 921 | $ 1,063 |
Note 17 - Segment and Geograp_4
Note 17 - Segment and Geographic Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Total revenue | $ 16,582 | $ 20,075 | $ 34,061 | $ 40,606 |
UNITED STATES | ||||
Total revenue | 9,280 | 9,757 | 19,353 | 20,498 |
Non-US [Member] | ||||
Total revenue | $ 7,302 | $ 10,318 | $ 14,708 | $ 20,108 |
Note 17 - Segment and Geograp_5
Note 17 - Segment and Geographic Information - Schedule of Revenue by Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Total revenue | $ 16,582 | $ 20,075 | $ 34,061 | $ 40,606 |
Leases [Member] | ||||
Total revenue | 4,517 | 4,311 | 8,048 | 10,072 |
System [Member] | ||||
Total revenue | 8,588 | 12,313 | 19,123 | 23,377 |
Product [Member] | ||||
Total revenue | 2,647 | 2,586 | 5,204 | 5,532 |
Service [Member] | ||||
Total revenue | $ 830 | $ 865 | $ 1,686 | $ 1,625 |
Note 17 - Segment and Geograp_6
Note 17 - Segment and Geographic Information - Schedule of Prior Period Adjustments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenues | $ 16,582 | $ 20,075 | $ 34,061 | $ 40,606 | |
Revision of Prior Period, Adjustment [Member] | |||||
Revenues | $ 0 | ||||
Revision of Prior Period, Adjustment [Member] | UNITED STATES | |||||
Revenues | 993 | ||||
Revision of Prior Period, Adjustment [Member] | Non-US [Member] | |||||
Revenues | $ (993) |
Note 18 - Related Party Trans_2
Note 18 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2020 | Jan. 01, 2021 | Jan. 01, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 16,582 | $ 20,075 | $ 34,061 | $ 40,606 | |||
Venus Concept Singapore Pte. Ltd (Venus Singapore) [Member] | |||||||
Disposal Group, Including Discontinued Operation, Percentage of Ownership | 55% | ||||||
Technicalbiomed Co., Ltd. (TBC) [Member] | |||||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 114 | 0 | 322 | |||
Venus Concept Singapore Pte. Ltd (Venus Singapore) [Member] | |||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | $ 62 | $ 0 | $ 122 | |||
Senior Officer [Member] | Technicalbiomed Co., Ltd. (TBC) [Member] | |||||||
Equity Method Investment, Ownership Percentage | 30% | ||||||
Senior Officer [Member] | Venus Concept Singapore Pte. Ltd (Venus Singapore) [Member] | |||||||
Equity Method Investment, Ownership Percentage | 45% |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - USD ($) | Jul. 26, 2024 | Jul. 29, 2024 | Jul. 28, 2024 | Apr. 23, 2024 |
Bridge Financing [Member] | Madryn Noteholders [Member] | ||||
Debt Instrument, Face Amount | $ 2,238,000 | |||
Debt Instrument, Maximum Additional Principal | 2,762,000 | |||
Bridge Financing [Member] | Madryn Noteholders [Member] | Loan and Security Agreement [Member] | ||||
Debt Instrument, Maximum Additional Principal | $ 2,024 | |||
Subsequent Event [Member] | Fifth Bridge Loan Amendment Agreement [Member] | ||||
Debt Instrument, Face Amount | $ 3,000,000 | $ 2,762,093.2 | ||
Subsequent Event [Member] | Bridge Financing [Member] | Madryn Noteholders [Member] | ||||
Proceeds from Issuance of Debt | $ 1,000,000 |