Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 09, 2024 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Registrant Name | ELECTRO SENSORS INC | |
Entity Central Index Key | 0000351789 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding | 3,428,021 | |
Trading Symbol | ELSE | |
Entity Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-09587 | |
Entity Incorporation, State or Country Code | MN | |
Entity Tax Identification Number | 41-0943459 | |
Entity Address, Address Line One | 6111 Blue Circle Drive | |
Entity Address, City or Town | Minnetonka | |
Entity Address, State or Province | MN | |
Entity Address, Postal Zip Code | 55343-9108 | |
City Area Code | 952 | |
Local Phone Number | 930-0100 | |
Title of 12(b) Security | Common stock, $0.10 par value | |
Security Exchange Name | NASDAQ | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false |
CONDENSED BALANCE SHEETS (unaud
CONDENSED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Current assets | ||
Cash and cash equivalents | $ 10,072 | $ 9,870 |
Investments | 56 | 56 |
Trade receivables, less allowance for credit losses of $11 and $11, respectively | 1,119 | 1,283 |
Inventories | 1,811 | 1,751 |
Other current assets | 218 | 179 |
Total current assets | 13,276 | 13,139 |
Deferred income tax asset, net | 336 | 355 |
Property and equipment, net | 927 | 951 |
Total assets | 14,539 | 14,445 |
Current liabilities | ||
Accounts payable | 189 | 291 |
Accrued expenses | 494 | 323 |
Accrued income tax | 61 | 76 |
Total current liabilities | 744 | 690 |
Commitments and contingencies | ||
Stockholders' equity | ||
Common stock par value $0.10 per share; authorized 10,000,000 shares; 3,428,021 shares issued and outstanding | 342 | 342 |
Additional paid-in capital | 2,259 | 2,230 |
Retained earnings | 11,194 | 11,183 |
Total stockholders' equity | 13,795 | 13,755 |
Total liabilities and stockholders' equity | $ 14,539 | $ 14,445 |
CONDENSED BALANCE SHEETS (una_2
CONDENSED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Balance Sheets [Abstract] | ||
Trade receivables, allowance for credit losses | $ 11 | $ 11 |
Common stock, par value | $ 0.1 | $ 0.1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 3,428,021 | 3,428,021 |
Common stock, shares outstanding | 3,428,021 | 3,428,021 |
CONDENSED STATEMENTS OF COMPREH
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statements of Comprehensive Income (Loss) [Abstract] | ||
Net sales | $ 2,244 | $ 2,045 |
Cost of goods sold | 1,164 | 1,023 |
Gross profit | 1,080 | 1,022 |
Operating expenses | ||
Selling and marketing | 351 | 370 |
General and administrative | 567 | 522 |
Research and development | 262 | 268 |
Total operating expenses | 1,180 | 1,160 |
Operating loss | (100) | (138) |
Non-operating income | ||
Interest income | 116 | 93 |
Total non-operating income, net | 116 | 93 |
Income (loss) before income tax expense (benefit) | 16 | (45) |
Income tax expense (benefit) | 5 | (1) |
Net income (loss) | 11 | (44) |
Other comprehensive loss | ||
Change in unrealized value of available-for-sale securities, net of income tax | 0 | (4) |
Other comprehensive loss | 0 | (4) |
Net comprehensive income (loss) | $ 11 | $ (48) |
Basic | ||
Net income (loss) per share | $ 0 | $ (0.01) |
Weighted average shares | 3,428,021 | 3,428,021 |
Diluted | ||
Net income (loss) per share | $ 0 | $ (0.01) |
Weighted average shares | 3,428,021 | 3,428,021 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Dec. 31, 2022 | $ 13,414 | $ 342 | $ 2,163 | $ 10,908 | $ 1 |
Beginning Balance, Shares at Dec. 31, 2022 | 3,428,021 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Other comprehensive loss | (4) | (4) | |||
Net income (loss) | (44) | (44) | |||
Ending Balance at Mar. 31, 2023 | 13,366 | $ 342 | 2,163 | 10,864 | (3) |
Ending Balance, Shares at Mar. 31, 2023 | 3,428,021 | ||||
Beginning Balance at Dec. 31, 2023 | 13,755 | $ 342 | 2,230 | 11,183 | 0 |
Beginning Balance, Shares at Dec. 31, 2023 | 3,428,021 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Other comprehensive loss | 0 | ||||
Stock-based compensation expense | 29 | 29 | |||
Net income (loss) | 11 | 11 | |||
Ending Balance at Mar. 31, 2024 | $ 13,795 | $ 342 | $ 2,259 | $ 11,194 | $ 0 |
Ending Balance, Shares at Mar. 31, 2024 | 3,428,021 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from (used in) operating activities | ||
Net income (loss) | $ 11 | $ (44) |
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities: | ||
Depreciation and amortization | 24 | 24 |
Deferred income taxes | 19 | (50) |
Stock-based compensation expense | 29 | 0 |
Change in: | ||
Trade receivables | 164 | (211) |
Inventories | (60) | (34) |
Other current assets | (39) | (1) |
Accounts payable | (102) | 83 |
Accrued expenses | 171 | 73 |
Income tax payable | (15) | 48 |
Net cash from (used in) operating activities | 202 | (112) |
Cash flows used in investing activities | ||
Purchase of property and equipment | 0 | (1) |
Net cash used in investing activities | 0 | (1) |
Cash flows used in financing activities | ||
Payments on financing lease | 0 | (2) |
Net cash used in financing activities | 0 | (2) |
Net increase (decrease) in cash and cash equivalents | 202 | (115) |
Cash and cash equivalents, beginning | 9,870 | 9,626 |
Cash and cash equivalents, ending | 10,072 | 9,511 |
Supplemental cash flow information | ||
Cash paid for income taxes | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2024 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1 asi s of Pr ese tio The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions and regulations of the Securities and Exchange Commission to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. This report should be read together with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 Management believes that the unaudited financial statements include all adjustments, consisting of normal recurring accruals, necessary to fairly state the financial position and results of operations as of March 31, 2024 three March 31, 2024 2023 Nature of Business Electro-Sensors, Inc. (the "Company") manufactures and markets a complete line of monitoring and control systems for a wide range of industrial machine applications. The Company uses leading-edge technology to continuously improve its products, with the goal of manufacturing the industry-preferred product for each of our served markets. The Company sells these products through an internal sales staff and distributors to a wide range of industries that use the products in a variety of applications to monitor process machinery operations. The Company markets its products to customers located throughout the United States, Canada, Latin America, Europe, and Asia. Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are invested in commercial paper, money market accounts and may, also, be invested in Treasury Bills with an three The Company maintains its cash and cash equivalents primarily in two . Trade receivables and credit policies Trade receivables are uncollateralized customer obligations due under normal trade terms generally requiring payment within 30 90 Payments of trade receivables are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The Company maintains an allowance for credit losses on trade receivables, which is recorded as an offset to trade receivables. Changes in the allowance for credit losses are included as a component of operating expenses in the Statements of Comprehensive Income (Loss). The Company assesses credit losses on its entire balance of trade receivables. The allowance is based on the credit losses expected to arise over the life of the receivable (contractual term). The Company considers historical loss rates and current economic conditions when determining the expected credit losses. Receivables are written off against the allowance for credit losses. The allowance for credit losses was $11 Re venue Rec At contract inception, the Company assesses the goods and services to be provided to a customer and identifies a performance obligation for each distinct good or service. We also determine the transaction price for each performance obligation at contract inception. Our contracts, generally in the form of a purchase order, specify the product or service that is to be provided to the customer. The typical contract life is less than one TM Fair Value Measurements The carrying value of trade receivables, accounts payable, and other financial working capital items approximates fair value at March 31, 2024 December 31, 2023 Stock-Based Compensation The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes-Merton (“BSM”) option pricing model. The Company uses historical data, among other factors, to estimate the expected price volatility, the expected option life, and the expected forfeiture rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Current significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, and valuation of deferred tax assets/liabilities, inventory, investments, and stock compensation expense. It is at least reasonably possible that these estimates may change in the near term Net Income (Loss) per Common Share Basic income (loss) per share excludes dilution and is determined by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that could occur if securities such as options or restricted stock units were exercised or converted into common stock. Diluted earnings per share ("Diluted EPS") considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential shares would have an anti-dilutive effect. Diluted EPS also excludes the impact of common shares issuable upon the exercise of outstanding stock options in periods in which the option exercise price is greater than the average market price of our common stock during the period. For the three period March 31, 2024 2023 In addition, for the three -month period e nded March 31, 2024 , 105,000 restricted stock units have been excluded from the calculation because their effect would be anti-dilutive. Reclassification of Prior Year Presentation All Treasury Bills have been reclassified to cash equivalents for consistency with the current year presentation. The reclassification had no effect on the reported results of operations. The Balance Sheet and Statement of Cash Flows have been adjusted to reflect this reclassification. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2024 | |
Investments [Abstract] | |
Investments | N ote 2 . Investments The Company has investments in common equity securities of two private U.S. companies. Equity securities are stated at estimated fair value and unrealized gains and losses, if any, are reported in our Statements of Comprehensive Income (Loss) in non-operating income. The cost and estimated fair value of the Company’s investments are as follows: Cost Gross unrealized gain Gross u nrealize loss Fair value March 31, 2024 E q uity Secu $ 54 $ 2 $ 0 $ 56 Total Investments, March 31, 2024 $ 54 $ 2 $ 0 $ 56 December 31, 2023 Equity Securities $ 54 $ 2 $ 0 $ 56 Total Investments, December 31, 2023 $ 54 $ 2 $ 0 $ 56 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 3 The following ta ble provides info March 31, 2024 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Equity Securities $ 56 $ 56 $ 0 $ 0 $ 56 December 31, 2023 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Equity Securities $ 56 $ 56 $ 0 $ 0 $ 56 The equity securities owned by the Company are investments in two non-publicly traded companies. There is an undeterminable market for each of these two companies and the Company has determined the fair value based on financial and other factors that are considered level 3 The changes 3 measured at ue on a recur ring sis are Three March 31 2024 2023 Beginning Balance $ 56 $ 56 Change in Fair Value 0 0 E nding B $ 56 $ 56 |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2024 | |
Inventories [Abstract] | |
Inventories | Note 4 Inven tories use tion of cost of go March 31 2024 December 31 2023 Raw Materials $ 1,135 $ 1,172 Work In Process 324 301 Finished Goods 362 288 Reserve for Obsolescence (10 ) (10 ) Total Inventories, net $ 1,811 $ 1,751 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2024 | |
Stock-Based Compensation | |
Stock-Based Compensation | Note 5 ck-B ased Compensation Stock options The 2013 2013 2013 100 10 The grants include a provision providing for acceleration of vesting upon a change of control in the Company. As of March 31, 2024 three March 31, 2024 There were no stock options granted or exercised in the three months ended March 31, 2024 and 2023. Restricted stock units The 2013 The grants include a provision providing for acceleration of vesting upon a change of control in the Company. As of March 31, 2024 The Company recognized compensation expense in connection with the vesting of restricted stock units of approximately $21 for the three March 31, 2024 There was no stock compensation expense related to restricted stock unit grants recognized in the first quarter of 2023. There were no restricted stock units granted or exercised in the three months ended March 31, 2024 and 2023. |
Contingencies
Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Contingencies [Abstract] | |
Contingencies | Note 6. Contingencies The Company at times becomes subject to claims against it in the ordinary course of business. There are currently no |
Subsequent Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2024 | |
Subsequent Event | |
Subsequent Events | Note 7 On Ap ril 24 2024 one |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Trading Arrangements, by Individual [Table] | |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Basis of Presentation (Policy)
Basis of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2024 | |
Basis of Presentation [Abstract] | |
Nature of Business | Nature of Business Electro-Sensors, Inc. (the "Company") manufactures and markets a complete line of monitoring and control systems for a wide range of industrial machine applications. The Company uses leading-edge technology to continuously improve its products, with the goal of manufacturing the industry-preferred product for each of our served markets. The Company sells these products through an internal sales staff and distributors to a wide range of industries that use the products in a variety of applications to monitor process machinery operations. The Company markets its products to customers located throughout the United States, Canada, Latin America, Europe, and Asia. |
Cash and cash equivalents | Cash and Cash Equivalents The Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents are invested in commercial paper, money market accounts and may, also, be invested in Treasury Bills with an three The Company maintains its cash and cash equivalents primarily in two . |
Trade receivables and credit policies | Trade receivables and credit policies Trade receivables are uncollateralized customer obligations due under normal trade terms generally requiring payment within 30 90 Payments of trade receivables are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The Company maintains an allowance for credit losses on trade receivables, which is recorded as an offset to trade receivables. Changes in the allowance for credit losses are included as a component of operating expenses in the Statements of Comprehensive Income (Loss). The Company assesses credit losses on its entire balance of trade receivables. The allowance is based on the credit losses expected to arise over the life of the receivable (contractual term). The Company considers historical loss rates and current economic conditions when determining the expected credit losses. Receivables are written off against the allowance for credit losses. The allowance for credit losses was $11 |
Revenue Recognition | Re venue Rec At contract inception, the Company assesses the goods and services to be provided to a customer and identifies a performance obligation for each distinct good or service. We also determine the transaction price for each performance obligation at contract inception. Our contracts, generally in the form of a purchase order, specify the product or service that is to be provided to the customer. The typical contract life is less than one TM |
Fair Value Measurements | Fair Value Measurements The carrying value of trade receivables, accounts payable, and other financial working capital items approximates fair value at March 31, 2024 December 31, 2023 |
Stock-Based Compensation | Stock-Based Compensation The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes-Merton (“BSM”) option pricing model. The Company uses historical data, among other factors, to estimate the expected price volatility, the expected option life, and the expected forfeiture rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Current significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, and valuation of deferred tax assets/liabilities, inventory, investments, and stock compensation expense. It is at least reasonably possible that these estimates may change in the near term |
Net Income (Loss) per Common Share | Net Income (Loss) per Common Share Basic income (loss) per share excludes dilution and is determined by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that could occur if securities such as options or restricted stock units were exercised or converted into common stock. Diluted earnings per share ("Diluted EPS") considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential shares would have an anti-dilutive effect. Diluted EPS also excludes the impact of common shares issuable upon the exercise of outstanding stock options in periods in which the option exercise price is greater than the average market price of our common stock during the period. For the three period March 31, 2024 2023 In addition, for the three -month period e nded March 31, 2024 , 105,000 restricted stock units have been excluded from the calculation because their effect would be anti-dilutive. |
Reclassification of Prior Year Presentation | Reclassification of Prior Year Presentation All Treasury Bills have been reclassified to cash equivalents for consistency with the current year presentation. The reclassification had no effect on the reported results of operations. The Balance Sheet and Statement of Cash Flows have been adjusted to reflect this reclassification. |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Investments [Abstract] | |
Cost And Estimated Fair Value Of Investments | Cost Gross unrealized gain Gross u nrealize loss Fair value March 31, 2024 E q uity Secu $ 54 $ 2 $ 0 $ 56 Total Investments, March 31, 2024 $ 54 $ 2 $ 0 $ 56 December 31, 2023 Equity Securities $ 54 $ 2 $ 0 $ 56 Total Investments, December 31, 2023 $ 54 $ 2 $ 0 $ 56 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Measurements [Abstract] | |
Schedule of fair value measurement on a recurring basis | March 31, 2024 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Equity Securities $ 56 $ 56 $ 0 $ 0 $ 56 December 31, 2023 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Equity Securities $ 56 $ 56 $ 0 $ 0 $ 56 |
Summary of change in level 3 assets at fair value on a recurring basis | Three March 31 2024 2023 Beginning Balance $ 56 $ 56 Change in Fair Value 0 0 E nding B $ 56 $ 56 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Inventories [Abstract] | |
Schedule of Inventories used in the determination of cost of goods sold | March 31 2024 December 31 2023 Raw Materials $ 1,135 $ 1,172 Work In Process 324 301 Finished Goods 362 288 Reserve for Obsolescence (10 ) (10 ) Total Inventories, net $ 1,811 $ 1,751 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Basis of Presentation | |||
Trade receivables, allowance for credit losses | $ 11 | $ 11 | |
Stock Options [Member] | |||
Basis of Presentation | |||
Securities excluded from the computations of diluted weighted-average shares outstanding | 175,000 | 300,000 | |
Unvested Restricted Stock Units [Member] | |||
Basis of Presentation | |||
Securities excluded from the computations of diluted weighted-average shares outstanding | 105,000 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2024 Number | |
Marketable Securities [Line Items] | |
Number of private companies which entity has investments in common equity securities | 2 |
Investments (Cost And Estimated
Investments (Cost And Estimated Fair Value Of Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Investments | ||
Cost | $ 54 | $ 54 |
Gross unrealized gain | 2 | 2 |
Gross unrealized loss | 0 | 0 |
Fair value, investments | 56 | 56 |
Equity Securities [Member] | ||
Investments | ||
Cost | 54 | 54 |
Gross unrealized gain | 2 | 2 |
Gross unrealized loss | 0 | 0 |
Fair value, investments | $ 56 | $ 56 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements On A Recurring Basis) (Details) - Equity Securities [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Carrying amount | $ 56 | $ 56 |
Equity Securities, Fair Value | 56 | 56 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Fair Value | $ 56 | $ 56 |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Assets Measured on Recurring Basis Unobservable Inputs Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Assets measured at fair value on a recurring basis | ||
Beginning Balance | $ 56 | $ 56 |
Change in Fair Value | 0 | 0 |
Ending Balance | $ 56 | $ 56 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Inventories [Abstract] | ||
Raw Materials | $ 1,135 | $ 1,172 |
Work In Process | 324 | 301 |
Finished Goods | 362 | 288 |
Reserve for Obsolescence | (10) | (10) |
Total Inventories, net | $ 1,811 | $ 1,751 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details 3) - 2013 Equity Incentive Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Stock Options [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Options expiration from date of grant | 10 years | |
Options expiration from termination of employment or service due to death, disability, or termination other than for cause | 12 months | |
Number of shares granted during the period (in shares) | 0 | 0 |
Number of shares exercised during the period (in shares) | 0 | 0 |
Unrecognized compensation expense related to outstanding stock options | $ 104 | |
Recognized compensation expense | $ 8 | $ 0 |
Stock Options [Member] | Minimum [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Stock options fair market value (as a percent) | 100% | |
Unvested Restricted Stock Units [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of shares granted during the period (in shares) | 0 | 0 |
Number of shares exercised during the period (in shares) | 0 | 0 |
Recognized compensation expense | $ 21 | $ 0 |
Unrecognized compensation expense related to outstanding restricted stock units | $ 381 |
Subsequent Event (Narrative) (D
Subsequent Event (Narrative) (Details) - Subsequent Event [Member] - 2013 Equity Incentive Plan [Member] - Employee Stock Option [Member] - Non-Employee Board of Director, One [Member] | Apr. 24, 2024 $ / shares shares |
Subsequent Event | |
Granted, Number of Shares | shares | 25,000 |
Granted, Weighted-Average Exercise Price | $ / shares | $ 4.13 |
Vested on grant date | |
Subsequent Event | |
Vesting Percentage | 20% |
Vesting on the first four anniversaries of the grant date | |
Subsequent Event | |
Vesting Percentage | 20% |