Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Mar. 22, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000749660 | ||
Entity Registrant Name | iCAD INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 001-09341 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 02-0377419 | ||
Entity Address, Address Line One | 98 Spit Brook Road, Suite 100 | ||
Entity Address, City or Town | Nashua | ||
Entity Address, State or Province | NH | ||
Entity Address, Postal Zip Code | 03062 | ||
City Area Code | 603 | ||
Local Phone Number | 882-5200 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | ICAD | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 92,546,960 | ||
Entity Common Stock, Shares Outstanding | 25,446,407 | ||
Auditor Firm ID | 243 | ||
Auditor Name | BDO USA, LLP | ||
Auditor Location | Boston, Massachusetts |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 21,313 | $ 34,282 |
Trade accounts receivable, net of allowance for doubtful accounts of $922 in 2022 and $268 in 2021 | 8,898 | 8,891 |
Inventory, net | 5,389 | 4,171 |
Prepaid expenses and other current assets | 2,641 | 2,962 |
Total current assets | 38,241 | 50,306 |
Property and equipment: | ||
Equipment | 3,076 | 7,121 |
Leasehold improvements | 110 | 172 |
Furniture and fixtures | 23 | 319 |
Marketing assets | 0 | 376 |
Property, Plant and Equipment, Gross, Ending Balance | 3,209 | 7,988 |
Less accumulated depreciation and amortization | 2,135 | 7,106 |
Property and equipment, net | 1,074 | 882 |
Other assets: | ||
Operating lease assets | 3,361 | 1,059 |
Other assets | 69 | 899 |
Intangible assets, net of accumulated amortization of $8,932 in 2022 and $8,724 in 2021 | 482 | 683 |
Goodwill | 8,362 | 8,362 |
Deferred tax assets | 116 | 0 |
Total other assets | 12,390 | 11,003 |
Total assets | 51,705 | 62,191 |
Current liabilities: | ||
Accounts payable | 1,973 | 2,779 |
Accrued and other expenses | 4,681 | 5,642 |
Lease payable, current | 582 | 889 |
Deferred revenue, current | 6,216 | 5,652 |
Total current liabilities | 13,452 | 14,962 |
Lease payable, long-term | 2,803 | 266 |
Deferred revenue, long-term | 542 | 441 |
Deferred tax | 6 | 5 |
Total liabilities | 16,803 | 15,674 |
Commitments and contingencies (Note 15) | ||
Stockholders’ equity: | ||
Preferred stock, $ .01 par value: authorized 1,000,000 shares; none issued. | 0 | 0 |
Common stock, $ .01 par value: authorized 60,000,000 shares; issued 25,446,407 in 2022 and 25,326,086 in 2021. Outstanding 25,260,576 in 2022 and 25,140,255 in 2021 | 254 | 253 |
Additional paid-in capital | 302,899 | 300,859 |
Accumulated deficit | (266,836) | (253,180) |
Treasury stock at cost, 185,831 shares in 2022 and 2021 | (1,415) | (1,415) |
Total stockholders’ equity | 34,902 | 46,517 |
Total liabilities and stockholders’ equity | $ 51,705 | $ 62,191 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Allowance for doubtful accounts on trade accounts receivable | $ 922 | $ 268 |
Intangible assets, accumulated amortization | $ 8,932 | $ 8,724 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 60,000,000 | 60,000,000 |
Common stock, shares issued (in shares) | 25,446,407 | 25,326,086 |
Common stock, shares outstanding (in shares) | 25,260,576 | 25,140,255 |
Treasury stock, shares (in shares) | 185,831 | 185,831 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | |||
Revenue | $ 27,944 | $ 33,638 | $ 29,698 |
Cost of Revenue: | |||
Cost of revenue | 8,132 | 9,395 | 8,344 |
Gross profit | 19,812 | 24,243 | 21,354 |
Operating expenses: | |||
Engineering and product development | 8,593 | 9,194 | 8,114 |
Marketing and sales | 13,691 | 15,135 | 13,312 |
General and administrative | 11,234 | 10,406 | 9,117 |
Amortization and depreciation | 224 | 240 | 199 |
Total operating expenses | 33,742 | 34,975 | 30,742 |
Loss from operations | (13,930) | (10,732) | (9,388) |
Other income (expense) | |||
Interest expense | (10) | (141) | (476) |
Interest income | 213 | 15 | 97 |
Loss on extinguishment of debt | 0 | (386) | (341) |
Loss on fair value of convertible debentures | 0 | 0 | (7,464) |
Other | (45) | 0 | 0 |
Other income (expense), net | 158 | (512) | (8,184) |
Loss before income tax expense | (13,772) | (11,244) | (17,572) |
Benefit (provision) for income taxes | 116 | (1) | (38) |
Net loss and comprehensive loss | $ (13,656) | $ (11,245) | $ (17,610) |
Net loss per share: | |||
Basic (in dollars per share) | $ (0.54) | $ (0.45) | $ (0.80) |
Diluted (in dollars per share) | $ (0.54) | $ (0.45) | $ (0.80) |
Weighted average number of shares used in computing net loss per share: | |||
Basic (in shares) | 25,202 | 24,778 | 22,140 |
Diluted (in shares) | 25,202 | 24,778 | 22,140 |
Product [Member] | |||
Revenue: | |||
Revenue | $ 15,398 | $ 21,191 | $ 18,903 |
Cost of Revenue: | |||
Cost of revenue | 5,852 | 5,653 | 5,000 |
Service and Supplies [Member] | |||
Revenue: | |||
Revenue | 12,546 | 12,447 | 10,795 |
Cost of Revenue: | |||
Cost of revenue | 1,983 | 3,425 | 2,965 |
Amortization and Depreciation [Member] | |||
Cost of Revenue: | |||
Cost of revenue | $ 297 | $ 317 | $ 379 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 19,546,151 | ||||
Balance at Dec. 31, 2019 | $ 196 | $ 230,615 | $ (224,325) | $ (1,415) | $ 5,071 |
Issuance of common stock relative to vesting of restricted stock, net of shares forfeited for tax obligations (in shares) | 97,830 | ||||
Issuance of common stock relative to vesting of restricted stock, net of shares forfeited for tax obligations | $ 0 | (225) | 0 | 0 | (225) |
Issuance of common stock pursuant to stock option plans (in shares) | 155,149 | ||||
Issuance of common stock pursuant to stock option plans | $ 1 | 728 | 0 | 0 | 729 |
Issuance of common stock, net (in shares) | 2,033,204 | ||||
Issuance of common stock, net | $ 20 | 18,264 | 0 | 0 | 18,284 |
Issuance of common stock pursuant employee stock purchase plan (in shares) | 42,606 | ||||
Issuance of common stock pursuant employee stock purchase plan | $ 1 | 267 | 0 | 0 | 268 |
Issuance of common stock upon conversion of debentures (in shares) | 1,819,466 | ||||
Issuance of common stock upon conversion of debentures | $ 18 | 21,146 | 0 | 0 | 21,164 |
Stock-based compensation | 0 | 2,844 | 0 | 0 | 2,844 |
Net loss | $ 0 | 0 | (17,610) | 0 | (17,610) |
Balance (in shares) at Dec. 31, 2020 | 23,694,406 | ||||
Balance at Dec. 31, 2020 | $ 236 | 273,639 | (241,935) | (1,415) | 30,525 |
Issuance of common stock relative to vesting of restricted stock, net of shares forfeited for tax obligations (in shares) | 44,706 | ||||
Issuance of common stock relative to vesting of restricted stock, net of shares forfeited for tax obligations | $ 1 | (60) | 0 | 0 | $ (59) |
Issuance of common stock pursuant to stock option plans (in shares) | 168,450 | 168,450 | |||
Issuance of common stock pursuant to stock option plans | $ 2 | 1,025 | 0 | 0 | $ 1,027 |
Issuance of common stock, net (in shares) | 1,393,738 | ||||
Issuance of common stock, net | $ 14 | 23,215 | 0 | 0 | 23,229 |
Issuance of common stock pursuant employee stock purchase plan (in shares) | 24,786 | ||||
Issuance of common stock pursuant employee stock purchase plan | $ 0 | 257 | 0 | 0 | 257 |
Stock-based compensation | 0 | 2,783 | 0 | 0 | 2,783 |
Net loss | $ 0 | 0 | (11,245) | 0 | (11,245) |
Balance (in shares) at Dec. 31, 2021 | 25,326,086 | ||||
Balance at Dec. 31, 2021 | $ 253 | 300,859 | (253,180) | (1,415) | 46,517 |
Issuance of common stock relative to vesting of restricted stock, net of shares forfeited for tax obligations (in shares) | 725 | ||||
Issuance of common stock relative to vesting of restricted stock, net of shares forfeited for tax obligations | $ 0 | 0 | 0 | 0 | $ 0 |
Issuance of common stock pursuant to stock option plans (in shares) | 73,500 | 73,500 | |||
Issuance of common stock pursuant to stock option plans | $ 1 | 206 | 0 | 0 | $ 207 |
Issuance of common stock pursuant employee stock purchase plan (in shares) | 46,096 | ||||
Issuance of common stock pursuant employee stock purchase plan | $ 0 | 148 | 0 | 0 | 148 |
Stock-based compensation | 0 | 1,686 | 0 | 0 | 1,686 |
Net loss | $ 0 | 0 | (13,656) | 0 | (13,656) |
Balance (in shares) at Dec. 31, 2022 | 25,446,407 | ||||
Balance at Dec. 31, 2022 | $ 254 | $ 302,899 | $ (266,836) | $ (1,415) | $ 34,902 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Shares forfeited for tax obligations (in shares) | 150 | 5,196 | 20,247 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flow from operating activities: | |||
Net loss | $ (13,656) | $ (11,245) | $ (17,610) |
Adjustments to reconcile net loss to net cash used for operating activities: | |||
Amortization | 211 | 230 | 309 |
Depreciation | 310 | 327 | 268 |
Non-cash lease expense | 708 | 778 | 752 |
Bad debt provision | 732 | 167 | 94 |
Stock-based compensation expense | 1,686 | 2,783 | 2,844 |
Amortization of debt discount and debt costs | 0 | 17 | 78 |
Loss on extinguishment of debt | 0 | 386 | 341 |
Deferred tax | (116) | 1 | 1 |
Loss on disposal of assets | 0 | 97 | 0 |
Change in fair value of convertible debentures | 0 | 0 | 7,464 |
Other, net | 9 | 0 | 0 |
Changes in operating assets and liabilities, net of acquisition: | |||
Accounts receivable | (739) | 969 | (302) |
Inventory | (1,218) | (1,027) | (533) |
Prepaid and other assets | 1,152 | 391 | (1,390) |
Accounts payable | (806) | (90) | 878 |
Accrued and other expenses | (961) | (2,123) | (207) |
Lease liabilities | (767) | (778) | (752) |
Deferred revenue | 665 | (291) | 780 |
Total adjustments | 866 | 1,837 | 10,625 |
Net cash used for operating activities | (12,790) | (9,408) | (6,985) |
Cash flow used for investing activities: | |||
Additions to patents, technology and other | (10) | (24) | (13) |
Additions to property and equipment | (524) | (563) | (461) |
Net cash used for investing activities | (534) | (587) | (474) |
Cash flow from financing activities: | |||
Issuance of common stock for cash, net | 0 | 23,229 | 18,285 |
Issuance of common stock pursuant to Employee Stock Purchase Plan | 148 | 257 | 266 |
Issuance of common stock pursuant to stock option plans | 207 | 1,027 | 729 |
Taxes paid related to restricted stock issuance | 0 | (59) | (225) |
Proceeds from notes payable | 0 | 0 | 6,957 |
Principal repayment of notes payable | 0 | (7,363) | (4,638) |
Debt issuance costs | 0 | 0 | (42) |
Proceeds from line of credit | 0 | 0 | 775 |
Repayment of line of credit | 0 | 0 | (2,775) |
Net cash provided by financing activities | 355 | 17,091 | 19,332 |
Increase in cash and cash equivalents | (12,969) | 7,096 | 11,873 |
Cash and cash equivalents, beginning of year | 34,282 | 27,186 | 15,313 |
Cash and cash equivalents, end of year | 21,313 | 34,282 | 27,186 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 9 | 172 | 272 |
Taxes paid | 0 | 0 | 38 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 3,011 | 79 | 69 |
Issuance of common stock upon conversion of debentures | $ 0 | $ 0 | $ 21,164 |
Note 1 - Organization and Busin
Note 1 - Organization and Business | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 Organization and Business iCAD, Inc. and subsidiaries (the “Company” or “iCAD”) is a global medical technology company providing innovative cancer detection and therapy solutions. The Company operates in two third 14 The Company maintains its headquarters and a separate manufacturing facility in Nashua, New Hampshire, an operations, research, development, manufacturing and warehousing facility in San Jose, California, and an office in Lyon, France. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. It is reasonably possible that changes may Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: Xoft, Inc., Xoft Solutions, LLC, and iCAD France, LLC. All material inter-company transactions and balances have been eliminated in consolidation. Risk and Uncertainty On March 12, 2020, 19 19, December 31, 2022, 19 In late February 2022, December 31, 2022 may may may not 2022, Cash and cash equivalents The Company defines cash and cash equivalents as all bank accounts, money market funds, deposits and other money market instruments with original maturities of 90 may $250,000 4 not not December 31, 2022, not Financial instruments Financial instruments consist of cash and cash equivalents, trade accounts receivable, contract assets, accounts payable, accrued and other expenses and notes payable. Due to their short-term nature and market rates of interest, the carrying amounts of the financial instruments approximated fair value as of December 31, 2022 2021 Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer obligations due under normal trade terms. Credit limits are initially established through a process of reviewing the financial history and stability of each customer and the Company performs continuing credit evaluations of its customers’ financial condition and generally does not December 31, 2022 2023 The Company’s policy is to maintain allowances for potential losses resulting from the inability of a portion of its customers to make required payments. The Company’s senior management reviews accounts receivable on a periodic basis to determine if any receivables may may December 31, 2022 2021 Inventory The Company uses the first first Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets, which is generally three five Goodwill In accordance with FASB Accounting Standards Codification (“ASC”) Topic 350 20, “Intangibles Goodwill and Other 350 20” not Factors the Company considers important, which could trigger an impairment of Goodwill, include the following: • significant and sustained underperformance relative to historical or projected future operating results; • significant changes in the manner or use of the Company’s assets in the strategy for the Company’s overall business; • significant negative industry or economic trends; • significant and sustained decline in the Company’s stock price; and • a decline in the Company’s market capitalization below net book value. The two The Company records an impairment charge if such an assessment were to indicate that the fair value of a reporting unit was less than the carrying value. When the Company evaluates potential impairments outside of its annual measurement date, judgment is required in determining whether an event has occurred that may Fair values for the reporting units are based on a weighting of the income approach and the market approach. For purposes of the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk adjusted rate. The Company uses internal forecasts to estimate future cash flows and includes estimates of long-term future growth rates based on our most recent views of the long-term forecast for each segment. Accordingly, actual results can differ from those assumed in our forecasts. Discount rates are derived from a capital asset pricing model and by analyzing published rates for industries relevant to our reporting units to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in our internally developed forecasts. In the market approach, the Company uses a valuation technique in which values are derived based on market prices of publicly traded companies with similar operating characteristics and industries. A market approach allows for comparison to actual market transactions and multiples. It can be somewhat limited in its application because the population of potential comparable publicly-traded companies can be limited due to differing characteristics of the comparative business and ours, as well as the fact that market data may not may The Company corroborates the total fair values of the reporting units using a market capitalization approach; however, this approach cannot be used to determine the fair value of each reporting unit value. The blend of the income approach and market approach is more closely aligned to our business profile, including markets served and products available. In addition, required rates of return, along with uncertainties inherent in the forecast of future cash flows, are reflected in the selection of the discount rate. Equally important, under the blended approach, reasonably likely scenarios and associated sensitivities can be developed for alternative future states that may not The Company performed the annual impairment assessment at October 1, 2022 Long Lived Assets In accordance with FASB ASC Topic 360, 360” not ASC 360 10 35 no 360 10 35 21 may not • A significant decrease in the market price of a long-lived asset (asset group); • A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition; • A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset group), including an adverse action or assessment by a regulator; • An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset (asset group); • A current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group); • significant and sustained decline in the Company’s stock price. In accordance with ASC 360 10 35 17, not The Company did not December 31, 2022 December 31, 2021 Intangible assets subject to amortization consist primarily of patents, technology intangibles, trade names, customer relationships and distribution agreements purchased in the Company’s previous acquisitions. These assets are amortized on a straight-line basis or the pattern of economic benefit over their estimated useful lives of 5 to 10 years. Leases In accordance with FASB ASC Topic 842, 842" At lease inception, the Company recognizes a lease liability equal to the present value of the remaining lease payments, and a right of use asset equal to the lease liability, subject to certain adjustments, such as for lease incentives. In determining the present value of the lease payments, the Company uses its incremental borrowing rate, determined by estimating the Company’s applicable, fully collateralized borrowing rate, with adjustment as appropriate for lease term. The lease term at the lease commencement date is determined based on the non-cancellable period for which the Company has the right to use the underlying asset, together with any periods covered by an extension option if the Company is reasonably certain to exercise that option. Right-of-use assets and obligations for leases with an initial term of 12 not not third not 606, 606" ASC 842 no December 31, 2022 Certain of the Company’s leases include variable lease costs to reimburse the lessor for real estate tax and insurance expenses, and certain non-lease components that transfer a distinct service to the Company, such as common area maintenance services. The Company has elected to separate the accounting for lease components and non-lease components for real estate and equipment leases. Stock-Based Compensation The Company maintains stock-based incentive plans, under which it provides stock incentives to employees, directors and contractors. The Company grants to employees, directors and contractors, options to purchase common stock at an exercise price equal to the market value of the stock at the date of grant. The Company may not 718, “Compensation Stock Compensation 718” The Company uses the Black-Scholes option pricing model to value stock options which requires extensive use of accounting judgment and financial estimates, including estimates of the expected term participants will retain their vested stock options before exercising them, the estimated volatility of its common stock price over the expected term, and the number of options that will be forfeited prior to the completion of their vesting requirements. The Company estimates forfeitures based on historical experience with pre-vested forfeitures. To the extent actual forfeitures differ from the estimate, the difference is recorded to compensation expense in the period of the forfeiture. Fair value of restricted stock is determined based on the stock price of the underlying option on the date of the grant. Application of alternative assumptions could produce significantly different estimates of the fair value of stock-based compensation and consequently, the related amounts recognized in the Consolidated Statements of Operations. Revenue Recognition In accordance with ASC 606, five 1 Identify the contract(s) with a customer may not 2 Identify the performance obligations in the contract third not not one 3 Determine the transaction price not 4 Allocate the transaction price to the performance obligations in the contract not 5 Recognize revenue when (or as) the Company satisfies a performance obligation The Company recognizes revenue from its contracts with customers primarily from the sale of products and from the sale of services and supplies. Revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For iCAD’s typical product revenue, control typically transfers upon shipment as title and risk of loss have passed to the customer. Services and supplies are considered to be transferred as the services are performed or over the term of the service or supply agreement. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Perpetual software licenses are accounted for as a single performance obligation and revenue is recognized at the point in time when ownership is transferred to the customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control of a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of revenue. The Company continues to provide for estimated warranty costs on original product warranties at the time of sale. Goods and Services Classifications Products Service Contracts 12 48 Supply and Source Usage Agreements Professional Services Other Significant Judgments The Company’s contracts with customers may may one may The Company may not Assets Recognized from the Costs to Obtain a Contract with a Customer The Company recognizes incremental costs of obtaining a contract with a customer as an asset if the Company expects the benefit of those costs to be longer than one one Right to Invoice Where applicable, the Company recognizes revenue from a contract with a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date and the amount to which the Company has a right to invoice. Sales and Other Similar Taxes The Company excludes sales taxes and similar taxes from the measurement of transaction price and ensures compliance with the disclosure requirements of ASC 235. Significant Financing Component The Company does not one Promised Goods or Services that are Immaterial in the Context of a Contract The Company assesses materiality of promised goods or services as performance obligations in the context of a contract and the Company does not 606 The Company does not one Cost of Revenue Cost of revenue consists of the costs of products purchased for resale, cost relating to service including costs of service contracts to maintain equipment after the warranty period, inbound freight and duty, manufacturing, warehousing, material movement, inspection, scrap, rework, depreciation and in-house product warranty repairs, amortization of acquired technology and any applicable medical device tax. Warranty Costs The Company provides for the estimated cost of standard product warranty against defects in material and workmanship based on historical warranty trends, including the cost of product returns during the warranty period. Warranty costs have not Engineering and Product Development Costs Engineering and product development costs relate to research and development efforts including Company sponsored clinical trials are expensed as incurred. Advertising Costs The Company expenses advertising costs as incurred. Advertising expense for the years ended December 31, 2022, 2021 2020 Income Taxes The Company follows the liability method under ASC Topic 740 Income Taxes 740” 740 December 31, 2022 December 31, 2021, December 31, 2022, not December 31, 2021, 13 |
Note 3 - Recently Issued Accoun
Note 3 - Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 3 Recently Issued Accounting Standards In June 2016, 2016 13, 326 2016 13” 2016 13 November 2019, 2016 13 December 15, 2022. 2016 13 2016 13 January 1, 2023. twelve 2016 13 not In December 2019, 2019 12, 740 2019 12” 2019 12 740. 740 2019 12 January 1, 2021. 2019 12 no |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 4 Fair Value Measurements The Company follows the provisions of FASB ASC Topic 820, Fair Value Measurement and Disclosures 820” three first two • Level 1 • Level 2 1 not • Level 3 no The assigned level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Money market funds included in cash and cash equivalents in the accompanying balance sheet are considered a Level 1 The following table sets forth the Company’s assets which are measured at fair value on a recurring basis by level within the fair value hierarchy (in thousand): Fair Value Measurements (in thousands) as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 15,067 $ — $ — $ 15,067 Total Assets $ 15,067 $ — $ — $ 15,067 Fair Value Measurements (in thousands) as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 30,573 $ — $ — $ 30,573 Total Assets $ 30,573 $ — $ — $ 30,573 There were no Level 3 December 31, 2022 December 31, 2021 Items Measured at Fair Value on a Nonrecurring Basis Certain assets, including long-lived assets and goodwill, are measured at fair value on a nonrecurring basis. These assets are recognized at fair value when they are deemed to be impaired. There were no items measured at fair value on a nonrecurring basis as of or during the years ended December 31, 2022 2021 |
Note 5 - Revenue
Note 5 - Revenue | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 5 Revenue Disaggregation of Revenue The following tables presents the Company’s revenues disaggregated by major good or service line, timing of revenue recognition and sales channel, reconciled to its reportable segments (in thousands). Year ended December 31, 2022 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 12,492 $ 2,777 $ 15,269 Service contracts 7,310 1,540 8,850 Supply and source usage agreements — 1,643 1,643 Disposable applicators — 1,776 1,776 Professional services and other — 406 406 $ 19,802 $ 8,142 $ 27,944 Timing of Revenue Recognition Goods transferred at a point in time $ 12,545 $ 4,969 $ 17,514 Services transferred over time 7,257 3,173 10,430 $ 19,802 $ 8,142 $ 27,944 Sales Channels Direct sales force $ 12,468 $ 3,543 $ 16,011 OEM partners 7,334 — 7,334 Channel partners — 4,599 4,599 $ 19,802 $ 8,142 $ 27,944 Year ended December 31, 2021 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 15,661 $ 5,530 $ 21,191 Service contracts 6,358 1,608 7,966 Supply and source usage agreements — 2,340 2,340 Disposable applicators — 1,810 1,810 Professional services and other — 331 331 $ 22,019 $ 11,619 $ 33,638 Timing of Revenue Recognition Goods transferred at a point in time $ 15,584 $ 8,012 $ 23,596 Services transferred over time 6,435 3,607 10,042 $ 22,019 $ 11,619 $ 33,638 Sales Channels Direct sales force $ 14,713 $ 4,421 $ 19,134 OEM partners 7,306 — 7,306 Channel partners — 7,198 7,198 $ 22,019 $ 11,619 $ 33,638 Year ended December 31, 2020 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 16,291 $ 4,535 $ 20,826 Service contracts 5,661 1,333 6,994 Supply and source usage agreements — 1,804 1,804 Professional services — 29 29 Other 45 — 45 $ 21,997 $ 7,701 $ 29,698 Timing of Revenue Recognition Goods transferred at a point in time $ 16,332 $ 4,624 $ 20,956 Services transferred over time 5,665 3,077 8,742 $ 21,997 $ 7,701 $ 29,698 Sales Channels Direct sales $ 13,809 $ 3,773 $ 17,582 OEM partners 8,188 — 8,188 Channel partners — 3,928 3,928 $ 21,997 $ 7,701 $ 29,698 Contract Balances Contract liabilities are a component of deferred revenue, current contract assets are a component of prepaid and other assets and non-current contract assets are a component of other assets. The following table provides information about receivables, current and non-current contract assets, and contract liabilities from contracts with customers (in thousands). Balance at December 31, 2022 Balance at December 31, 2021 Receivables, which are included in ‘Trade accounts receivable’ $ 8,898 $ 8,891 Current contract assets, which are included in “Prepaid and other assets” $ 759 $ 1,895 Non-current contract assets, which are included in “other assets” $ 15 $ 844 Contract liabilities, which are included in “Deferred revenue” $ 6,758 $ 6,093 The Company records a receivable when revenue is recognized prior to receipt of cash payments and the Company has the unconditional right to such consideration, or deferred revenue when cash payments are received or due in advance of performance. For multi-year agreements, the Company generally invoices customers annually at the beginning of each annual service period. The Company records net contract assets or contract liabilities on a contract-by-contract basis. The Company records a contract asset for unbilled revenue when the Company’s performance exceeds amounts billed or billable. The Company classifies the net contract asset as either current or non-current based on the expected timing of the Company’s right to bill under the terms of the contract. The current contract asset balance primarily relates to the net unbilled revenue balances with two one two one Contract liabilities, or deferred revenue from contracts with customers, is primarily composed of fees related to long-term service arrangements, which are generally billed in advance. Deferred revenue also includes payments for installation and training that has not Changes in deferred revenue from contracts with customers were as follows (in thousands): Year Ended December 31, 2022 Year Ended December 31, 2021 Balance at beginning of period $ 6,093 $ 6,384 Deferral of revenue 12,129 12,315 Recognition of deferred revenue (11,464 ) (12,606 ) Balance at end of period $ 6,758 $ 6,093 The Company expects to recognize estimated revenues related to performance obligations that are unsatisfied (or partially satisfied) in the amounts of approximately $4.0 million in 2023, 2024, 2025. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company recognizes an asset for the incremental costs of obtaining a contract with a customer if it expects the benefit of those costs to be longer than one December 31, 2022 2021 Changes in the balance of capitalized costs to obtain a contract were as follows (in thousands): Years Ended December 31, 2022 2021 Balance at beginning of period $ 302 $ 406 Deferral of costs to obtain a contract 120 249 Recognition of costs to obtain a contract (181 ) (353 ) Balance at end of period $ 241 $ 302 |
Note 6 - Net Loss Per Common Sh
Note 6 - Net Loss Per Common Share | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6 Net Loss per Common Share The Company follows FASB ASC 260 10, “Earnings per Share” A summary of the Company’s calculation of net loss per share is as follows (in thousands, except per share amounts): 2022 2021 2020 Net loss $ (13,656 ) $ (11,245 ) $ (17,610 ) Basic shares used in the calculation of earnings per share 25,202 24,778 22,140 Effect of dilutive securities: Stock options — — — Restricted stock — — — Diluted shares used in the calculation of earnings per share 25,202 24,778 22,140 Net loss per share: Basic $ (0.54 ) $ (0.45 ) $ (0.80 ) Diluted $ (0.54 ) $ (0.45 ) $ (0.80 ) The following table summarizes the number of shares of common stock for convertible securities, warrants and restricted stock that were not Year Ended December 31, 2022 2021 2020 Common stock options 2,610,659 2,486,511 1,869,507 Restricted Stock — 875 29,166 2,610,659 2,487,386 1,898,673 Restricted common stock can be issued to directors, executives or employees of the Company and are subject to time-based vesting. These potential shares were excluded from the computation of basic loss per share as these shares are not |
Note 7 - Allowance for Doubtful
Note 7 - Allowance for Doubtful Accounts | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 7 Allowance for Doubtful Accounts The rollforward of the Company’s allowance for doubtful accounts for the years ended December 31 2022 2021 2020 Balance at beginning of period $ 268 $ 111 $ 136 Additions charged to costs and expenses 732 167 94 Reductions (78 ) (10 ) (119 ) Balance at end of period $ 922 $ 268 $ 111 |
Note 8 - Inventories
Note 8 - Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 8 Inventories Inventory balances at December 31, 2022 2021 December 31, 2022 December 31, 2021 Raw materials $ 2,658 $ 2,962 Work in process 101 173 Finished Goods 2,892 1,279 Inventory Gross 5,651 4,414 Inventory Reserve (262 ) (243 ) Inventory Net $ 5,389 $ 4,171 |
Note 9 - Goodwill and Intangibl
Note 9 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 9 Goodwill and Intangible assets At December 31, 2022 2021 December 31, 2022 2021 Amortization expense related to intangible assets was approximately $211,000, $230,000 and $309,000 for the years ended December 31, 2022, 2021 2020 Weighted average useful life 2022 2021 2020 (in years) Gross Carrying Amount Patents and licenses $ 626 $ 619 $ 595 5 Technology 8,257 8,257 8,257 10 Customer relationships 272 272 272 7 Tradename 259 259 259 10 Total amortizable intangible assets 9,414 9,407 9,383 Accumulated Amortization Patents and licenses $ 537 $ 534 $ 529 Technology 7,947 7,769 7,571 Customer relationships 189 162 135 Tradename 259 259 259 Total accumulated amortization 8,932 8,724 8,494 Total amortizable intangible assets, net $ 482 $ 683 $ 889 Estimated remaining amortization of the Company’s intangible assets is as follows (in thousands): Estimated For the years ended amortization December 31: expense 2023 206 2024 121 2025 119 2026 18 2027 18 $ 482 |
Note 10 - Accrued and Other Exp
Note 10 - Accrued and Other Expenses | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 10 Accrued and Other expenses Accrued and other expenses consist of the following at December 31 2022 2021 Accrued salary and related expenses $ 1,248 $ 2,016 Accrued accounts payable 2,913 2,838 Accrued professional fees 400 497 Other accrued expenses 120 291 $ 4,681 $ 5,642 |
Note 11 - Leases
Note 11 - Leases | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 11 Leases The Company has leases for office space and office equipment. The leases expire at various dates through 2028. May 2022, November 2022, October 2021, 2024, Year Ended December 31, Lease Cost Classification 2022 2021 Operating lease cost - Right of Use Operating expenses $ 859 $ 862 Operating lease cost - Variable Costs Operating expenses 277 186 Total $ 1,136 $ 1,048 Year Ended December 31, 2022 2021 Cash paid for operating cash flows from operating leases $ 931 $ 919 As of December 31, 2022 2021 Weighted-average remaining lease term of operating leases (in years) 3.77 1.33 Weighted-average discount rate for operating leases 6.98 % 5.50 % Maturities of the Company’s lease liabilities as of December 31, 2022 Year Ended December 31: Total 2023 781 2024 846 2025 848 2026 749 2027 685 Thereafter 172 Total lease payments 4,081 Less: effects of discounting (696 ) Total lease liabilities 3,385 Less: current portion of lease liabilities (582 ) Long-term lease liabilities $ 2,803 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 12 Stockholders Equity (a) Financing Activity On April 27, 2020, December 17, 2020 March 2, 2021, On March 2, 2021, March 5, 2021. (b) Stock Options The Company's 2016 “2016 may 2016 not may At the Company’s 2021 2016 December 31, 2022 2016 Weighted Average Remaining Number of Weighted Average Contractual Term Shares Exercise Price (in years) Outstanding, December 31, 2020 1,869,507 $ 5.91 Granted 865,938 $ 16.33 Exercised (168,450 ) $ 6.10 Forfeited (80,484 ) $ 13.74 Outstanding, December 31, 2021 2,486,511 $ 9.27 5.42 Granted 836,500 $ 4.92 Exercised (73,500 ) $ 2.45 Forfeited (638,519 ) $ 11.45 Outstanding, December 31, 2022 2,610,992 $ 7.54 3.76 Exercisable at December 31, 2020 1,540,287 $ 5.55 Exercisable at December 31, 2021 1,619,855 $ 6.47 Exercisable at December 31, 2022 1,906,189 $ 7.59 The Company’s stock-based compensation expense, including options and restricted stock by category is as follows (amounts in thousands): Year Ended December 31, 2022 2021 2020 Cost of revenue $ 3 $ 15 $ 30 Engineering and product development 220 356 376 Marketing and sales 518 785 657 General and administrative expense 945 1,627 1,781 $ 1,686 $ 2,783 $ 2,844 As of December 31, 2022 Options granted under the stock incentive plans were valued utilizing the Black-Scholes model using the following assumptions and had the following fair values: Year Ended December 31, 2022 2021 2020 Average risk-free interest rate 2.29 % 0.42 % 0.65 % Expected dividend yield None None None Expected life (in years) 3.5 3.5 3.5 Expected volatility 66.30 - 72.04 % 65.57 - 67.42 % 50.17 - 66.04 % Weighted average fair value $ 2.33 $ 7.22 $ 4.37 The Company’s 2022 2021 2020 zero no not Intrinsic values of options (in thousands) and the closing market price used to determine the intrinsic values are as follows: Intrinsic value of stock options Year Ended December 31, 2022 2021 2020 Outstanding $ — $ 3,820 $ 13,626 Exercisable $ — $ 3,730 $ 11,786 Exercised $ — $ 1,453 $ 1,037 Company’s stock price at December 31 $ 1.83 $ 7.20 $ 13.20 As of December 31, 2022, zero (c) Restricted Stock The Company’s restricted stock awards typically vest in either one three first one 2021 2020 A summary of unvested restricted stock activity for the Stock Plans is follows: Year Ended December 31, 2022 2021 2020 Beginning outstanding balance 875 29,166 150,909 Granted — 22,488 — Vested (875 ) (50,779 ) (118,077 ) Forfeited — — (3,666 ) Ending outstanding balance — 875 29,166 (d) Employee Stock Purchase Program: In December 2019, 2019 January 1, 2020. may Substantially all of the Company’s employees whose customary employment is for more than 20 Any eligible employee can enroll in the Plan as of the beginning of a respective quarterly accumulation period. Employees who participate in the ESPP may first no may The Company issued 46,096 and 24,786 shares of common stock under the ESPP for the years ended December 31, 2022 2021 December 31, 2022 October 2022, October 1, 2022 December 31, 2022 not |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 13 Income Taxes Income Taxes The components of income tax expense for the years ended December 31 2022 2021 2020 Current provision: Federal $ — $ — $ — State — — 37 Foreign — — — $ — $ — $ 37 Deferred provision: Federal $ — $ 1 $ 1 State — — — Foreign (116 ) — — $ (116 ) $ 1 $ 1 Total $ (116 ) $ 1 $ 38 The Company adopted ASU 2019 12 January 1, 2021. December 31, 2020 not 2019 12 A summary of the differences between the Company’s effective income tax rate and the Federal statutory income tax rate for the years ended December 31 2022 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 2.5 % 5.2 % 2.4 % Net state impact of deferred rate change (1.0 )% 0.8 % (0.7 )% Stock compensation expense (0.7 )% 1.3 % 0.9 % Other permanent differences (0.4 )% (0.1 )% (0.1 )% Change in valuation allowance (13.7 )% (24.4 )% (13.4 )% Tax credits 2.0 % 3.1 % 1.4 % Accrual to tax return 0.0 % (1.4 )% 0.0 % FV Mark to market on convertible notes 0.0 % 0.0 % (9.0 )% Foreign Rate Differential 0.0 % 0.0 % 0.0 % True Ups - NOL Expiration/162(m) limits (8.9 )% (5.4 )% (2.8 )% Effective income tax 0.8 % 0.1 % (0.3 )% Deferred tax assets and liabilities are recognized for the expected future tax consequences of net operating loss carryforwards, tax credit carryforwards and temporary differences between the financial statement carrying amounts and the income tax basis of assets and liabilities. A valuation allowance is applied against any net deferred tax asset if, based on the available evidence, it is more likely than not not Deferred income taxes reflect the impact of “temporary differences” between the amount of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws and regulations. The Company has fully reserved the U.S. net deferred tax assets, as it is more likely than not not not not December 31, 2022 2021 2022 2021 Inventory (Section 263A) $ 311 $ 276 Inventory reserves 61 61 Bad debt reserves 215 67 Other accruals 813 854 Deferred revenue 129 107 Accumulated depreciation/amortization 17 8 Stock options 1,108 795 Developed technology 976 1,242 Tax credits 4,427 4,176 NOL carryforward 38,234 38,383 Lease Liability 792 — Section 174 R&D 1,749 290 Deferred tax assets 48,832 46,259 Valuation allowance (47,930 ) (45,994 ) Right of Use Asset (786 ) (265 ) Goodwill tax amortization (6 ) (5 ) Net deferred tax asset (liability) $ 110 $ (5 ) The increase in the net deferred tax assets and corresponding valuation allowance during the year ended December 31, 2022 174 December 31, 2021 As of December 31, 2022, 2023 2037. December 31, 2017 December 31, 2022, December 31, 2022, December 31, 2022, not may The Company currently has approximately $4.6 million in net operating losses that are subject to limitations related to Xoft. Approximately $656,000 can be used annually through 2029. 1986 2042. no 2030. ASC 740 10 As of December 31, 2022 2021 no 740 10. zero December 31, 2022, 2021 2020 three not The Company does not December 31, 2022 12 |
Note 14 - Segment Reporting
Note 14 - Segment Reporting | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 14 Segment Reporting (a) Segment Reporting Operating segments are the components of our business for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is our chief executive officer. Our operating segments are generally organized by the type of product or service offered and by geography. Each reportable segment generates revenue from the sale of medical equipment and related services and/or sale of supplies. The Company has determined there are two The Detection segment consists of the Company’s advanced image analysis and workflow products, and the Therapy segment consists of the Company’s radiation therapy products, and related services. The primary factors used by the Company’s CODM to allocate resources are based on revenues, gross profit, operating income or loss, and earnings or loss before interest, taxes, depreciation, amortization, and other specific and non-recurring items of each segment. Included in segment operating income are stock compensation, amortization of technology and depreciation expense. There are no The Company does not not Segment revenues, gross profit, segment operating income or loss, and a reconciliation of segment operating income or loss to GAAP loss before income tax is as follows (in thousands): Year Ended December 31, 2022 2021 2020 Segment revenues: Detection $ 19,802 $ 22,019 $ 21,997 Therapy 8,142 11,619 7,701 Total Revenue $ 27,944 $ 33,638 $ 29,698 Segment gross profit: Detection $ 16,824 $ 18,510 $ 17,856 Therapy 2,988 5,733 3,498 Total gross profit $ 19,812 $ 24,243 $ 21,354 Segment operating income (loss): Detection $ 902 $ 1,563 $ 2,719 Therapy (3,767 ) (1,835 ) (3,028 ) Segment operating income (loss) $ (2,865 ) $ (272 ) $ (309 ) General administrative $ (10,852 ) $ (10,460 ) $ (9,079 ) Interest expense (10 ) (141 ) (476 ) Loss on extinguishment of debt — (386 ) (341 ) Other income (45 ) 15 97 Fair value of convertible debentures — — (7,464 ) Loss before income tax $ (10,907 ) $ (10,972 ) $ (17,263 ) Segment depreciation and amortization included in segment operating income (loss) is as follows (in thousands): Year Ended December 31, 2022 2021 2020 Detection depreciation and amortization Depreciation $ 109 $ 123 $ 115 Amortization $ 134 $ 158 164 Therapy depreciation and amortization Depreciation $ 129 $ 129 $ 124 Amortization $ 73 $ 73 128 (b) Geographic Information The Company’s sales are made to customers, distributors and dealers of mammography, electronic brachytherapy equipment and other medical equipment, and to foreign distributors of mammography and electronic brachytherapy equipment. Export revenue to a single country did not 10% 2022 2021 2020 As of December 31, 2022 2021 Percent of Export sales Region 2022 2021 2020 Europe 24 % 39 % 45 % Taiwan 14 % 12 % 13 % Israel 13 % 0 % 0 % Bangladesh 8 % 0 % 0 % Malaysia 4 % 0 % 0 % Canada 1 % 3 % 5 % China 18 % 35 % 22 % Australia 3 % 0 % 0 % Other 15 % 11 % 15 % Total 100 % 100 % 100 % Total Export Revenue $ 6,976 $ 7,527 $ 6,081 Significant export sales in Europe are as follows: Percent of Export sales Region 2022 2021 2020 France 45 % 47 % 41 % Italy 11 % 5 % 8 % Spain 10 % 17 % 17 % Germany 9 % 4 % 12 % Belgium 8 % 0 % 0 % Switzerland 6 % 8 % 0 % Sweden 4 % 0 % 0 % United Kingdom 1 % 4 % 6 % Russia 0 % 8 % 0 % % % % % % % (c) Major Customers The Company had one 2022 2021 2020 December 31, 2022 four December 31, 2022 December 31, 2021 December 31, 2020 one December 31, 2022 OEM partners represented $2.0 million or 22% of outstanding receivables as of December 31, 2022 four December 31, 2022 December 31, 2022 40%of December 31, 2022 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 15 Commitments and Contingencies (a) Purchase Commitments The Company has non-cancelable purchase orders with key suppliers executed in the normal course of business that total approximately $4.6 million. (b) Employment Agreements The Company has entered into employment agreements with certain executives and key employees. The employment agreements provide for minimum severance payments and performance-based annual bonus compensation, as defined in their respective agreements, in the event that their employment is terminated without cause. (c) Royalty Obligations In connection with prior litigation, the Company received a nonexclusive, irrevocable, perpetual, worldwide license, including the right to sublicense certain Hologic patents, and a non-compete covenant as well as an agreement not 2016. four (d) Legal Matters In December 2016, January 30, 2017 On September 5, 2018, third No. 1:18 08083 April 13, 2021, one second 2021. In addition to the foregoing, the Company may no may not 450, |
Note 16 - Notes Payable
Note 16 - Notes Payable | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 16 Notes Payable (a) Loan and Security Agreement Western Alliance Bank On March 30, 2020, On April 27, 2021, (b) Loan and Security Agreement Silicon Valley Bank On August 7, 2017, On March 30, 2020, March 2020 (c) Convertible Debentures On December 20, 2018, not On February 21, 2020 As a result of this election, all of the outstanding Convertible Debentures were converted, at a conversion price of $4.00 per share, into 1,742,500 shares of the Company’s common stock. In accordance with the make-whole provisions in the Convertible Debentures, the Company also issued an additional 76,966 shares of its common stock. The make-whole amount represented the total interest which would have accrued through the maturity date of the Convertible Debentures, less the amounts previously paid, totaling $697,000. The conversion prices related to the make-whole amount were dependent on whether the Investors were related parties or unrelated third Accounting Considerations and Fair Value Measurements Related to the Convertible Debentures The Company had previously elected to make a one The Company recorded a final adjustment to the Convertible Debentures based on their fair value on the Conversion Date, just prior to the forced conversion being completed. Given that the Company’s prior simulation model included the assumption that the Company would elect to force conversion in 100% The Company notes that the key inputs to the simulation model that were utilized to estimate the fair value of the Convertible Debentures at each valuation date included: Input December 31, 2019 February 21, 2020 Company’s stock price $ 7.77 $ 11.64 Conversion price 4.00 4.00 Remaining term (years) 1.97 — Equity volatility 49.00 % N/A Risk free rate 1.57 % N/A Probability of default event 1 0.45 % N/A Utilization of Forced Conversion (if available) 1 100.00 % 100.00 % Exercise of Default Redemption (if available) 1 100.00 % N/A Effective discount rate 1 18.52 % N/A 1 Represents a Level 3 4 The Company’s stock price is based on the closing stock price on the valuation date. The conversion price is based on the contractual conversion price included in the SPA. The remaining term was determined based on the remaining time period to maturity of the Convertible Debentures. The Company’s equity volatility estimate was based on the Company’s historical equity volatility, the Company’s implied and observed volatility of option pricing, and the historical equity and observed volatility of option pricing for a selection of comparable guideline public companies. The risk-free rate was determined based on U.S. Treasury securities with similar terms. The probability of the occurrence of a default event was based on Bloomberg’s one The utilization of the Forced Conversion right and the default redemption right is based on management’s best estimate of both features being exercised upon the occurrence of the related contingent events. The effective discount rate utilized at the December 31, 2019 February 21, 2020 December 31, 2019 no The fair value and principal value of the Convertible Debentures as of December 31, 2019 Convertible Debentures December 31, 2019 February 21, 2020 Fair value, in accordance with fair value option $ 13,642 $ 21,164 Principal value outstanding $ 6,970 $ 6,970 The Company recorded a loss from the change in fair value of the Convertible Debentures of approximately $7.5 million for the year ending December 31, 2020. |
Note 17 - Employee Benefit Plan
Note 17 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Defined Benefit Plan [Text Block] | Note 17 Employee Benefit Plan The Company has a 401 “401 may 401 not December 31, 2022 2021 |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 18 Subsequent Events On March 20, 2023, one first 2023 one may 2023. The Company has evaluated all other events and transactions subsequent to the balance sheet date to the date of filing and is not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. It is reasonably possible that changes may |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: Xoft, Inc., Xoft Solutions, LLC, and iCAD France, LLC. All material inter-company transactions and balances have been eliminated in consolidation. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Risk and Uncertainty On March 12, 2020, 19 19, December 31, 2022, 19 In late February 2022, December 31, 2022 may may may not 2022, |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents The Company defines cash and cash equivalents as all bank accounts, money market funds, deposits and other money market instruments with original maturities of 90 may $250,000 4 not not December 31, 2022, not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial instruments Financial instruments consist of cash and cash equivalents, trade accounts receivable, contract assets, accounts payable, accrued and other expenses and notes payable. Due to their short-term nature and market rates of interest, the carrying amounts of the financial instruments approximated fair value as of December 31, 2022 2021 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are customer obligations due under normal trade terms. Credit limits are initially established through a process of reviewing the financial history and stability of each customer and the Company performs continuing credit evaluations of its customers’ financial condition and generally does not December 31, 2022 2023 The Company’s policy is to maintain allowances for potential losses resulting from the inability of a portion of its customers to make required payments. The Company’s senior management reviews accounts receivable on a periodic basis to determine if any receivables may may December 31, 2022 2021 |
Inventory, Policy [Policy Text Block] | Inventory The Company uses the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets, which is generally three five |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill In accordance with FASB Accounting Standards Codification (“ASC”) Topic 350 20, “Intangibles Goodwill and Other 350 20” not Factors the Company considers important, which could trigger an impairment of Goodwill, include the following: • significant and sustained underperformance relative to historical or projected future operating results; • significant changes in the manner or use of the Company’s assets in the strategy for the Company’s overall business; • significant negative industry or economic trends; • significant and sustained decline in the Company’s stock price; and • a decline in the Company’s market capitalization below net book value. The two The Company records an impairment charge if such an assessment were to indicate that the fair value of a reporting unit was less than the carrying value. When the Company evaluates potential impairments outside of its annual measurement date, judgment is required in determining whether an event has occurred that may Fair values for the reporting units are based on a weighting of the income approach and the market approach. For purposes of the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk adjusted rate. The Company uses internal forecasts to estimate future cash flows and includes estimates of long-term future growth rates based on our most recent views of the long-term forecast for each segment. Accordingly, actual results can differ from those assumed in our forecasts. Discount rates are derived from a capital asset pricing model and by analyzing published rates for industries relevant to our reporting units to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in our internally developed forecasts. In the market approach, the Company uses a valuation technique in which values are derived based on market prices of publicly traded companies with similar operating characteristics and industries. A market approach allows for comparison to actual market transactions and multiples. It can be somewhat limited in its application because the population of potential comparable publicly-traded companies can be limited due to differing characteristics of the comparative business and ours, as well as the fact that market data may not may The Company corroborates the total fair values of the reporting units using a market capitalization approach; however, this approach cannot be used to determine the fair value of each reporting unit value. The blend of the income approach and market approach is more closely aligned to our business profile, including markets served and products available. In addition, required rates of return, along with uncertainties inherent in the forecast of future cash flows, are reflected in the selection of the discount rate. Equally important, under the blended approach, reasonably likely scenarios and associated sensitivities can be developed for alternative future states that may not The Company performed the annual impairment assessment at October 1, 2022 |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long Lived Assets In accordance with FASB ASC Topic 360, 360” not ASC 360 10 35 no 360 10 35 21 may not • A significant decrease in the market price of a long-lived asset (asset group); • A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition; • A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset group), including an adverse action or assessment by a regulator; • An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset (asset group); • A current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset (asset group); • significant and sustained decline in the Company’s stock price. In accordance with ASC 360 10 35 17, not The Company did not December 31, 2022 December 31, 2021 Intangible assets subject to amortization consist primarily of patents, technology intangibles, trade names, customer relationships and distribution agreements purchased in the Company’s previous acquisitions. These assets are amortized on a straight-line basis or the pattern of economic benefit over their estimated useful lives of 5 to 10 years. |
Lessee, Leases [Policy Text Block] | Leases In accordance with FASB ASC Topic 842, 842" At lease inception, the Company recognizes a lease liability equal to the present value of the remaining lease payments, and a right of use asset equal to the lease liability, subject to certain adjustments, such as for lease incentives. In determining the present value of the lease payments, the Company uses its incremental borrowing rate, determined by estimating the Company’s applicable, fully collateralized borrowing rate, with adjustment as appropriate for lease term. The lease term at the lease commencement date is determined based on the non-cancellable period for which the Company has the right to use the underlying asset, together with any periods covered by an extension option if the Company is reasonably certain to exercise that option. Right-of-use assets and obligations for leases with an initial term of 12 not not third not 606, 606" ASC 842 no December 31, 2022 Certain of the Company’s leases include variable lease costs to reimburse the lessor for real estate tax and insurance expenses, and certain non-lease components that transfer a distinct service to the Company, such as common area maintenance services. The Company has elected to separate the accounting for lease components and non-lease components for real estate and equipment leases. |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company maintains stock-based incentive plans, under which it provides stock incentives to employees, directors and contractors. The Company grants to employees, directors and contractors, options to purchase common stock at an exercise price equal to the market value of the stock at the date of grant. The Company may not 718, “Compensation Stock Compensation 718” The Company uses the Black-Scholes option pricing model to value stock options which requires extensive use of accounting judgment and financial estimates, including estimates of the expected term participants will retain their vested stock options before exercising them, the estimated volatility of its common stock price over the expected term, and the number of options that will be forfeited prior to the completion of their vesting requirements. The Company estimates forfeitures based on historical experience with pre-vested forfeitures. To the extent actual forfeitures differ from the estimate, the difference is recorded to compensation expense in the period of the forfeiture. Fair value of restricted stock is determined based on the stock price of the underlying option on the date of the grant. Application of alternative assumptions could produce significantly different estimates of the fair value of stock-based compensation and consequently, the related amounts recognized in the Consolidated Statements of Operations. |
Revenue [Policy Text Block] | Revenue Recognition In accordance with ASC 606, five 1 Identify the contract(s) with a customer may not 2 Identify the performance obligations in the contract third not not one 3 Determine the transaction price not 4 Allocate the transaction price to the performance obligations in the contract not 5 Recognize revenue when (or as) the Company satisfies a performance obligation The Company recognizes revenue from its contracts with customers primarily from the sale of products and from the sale of services and supplies. Revenue is recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. For iCAD’s typical product revenue, control typically transfers upon shipment as title and risk of loss have passed to the customer. Services and supplies are considered to be transferred as the services are performed or over the term of the service or supply agreement. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Perpetual software licenses are accounted for as a single performance obligation and revenue is recognized at the point in time when ownership is transferred to the customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control of a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of revenue. The Company continues to provide for estimated warranty costs on original product warranties at the time of sale. Goods and Services Classifications Products Service Contracts 12 48 Supply and Source Usage Agreements Professional Services Other Significant Judgments The Company’s contracts with customers may may one may The Company may not Assets Recognized from the Costs to Obtain a Contract with a Customer The Company recognizes incremental costs of obtaining a contract with a customer as an asset if the Company expects the benefit of those costs to be longer than one one Right to Invoice Where applicable, the Company recognizes revenue from a contract with a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date and the amount to which the Company has a right to invoice. Sales and Other Similar Taxes The Company excludes sales taxes and similar taxes from the measurement of transaction price and ensures compliance with the disclosure requirements of ASC 235. Significant Financing Component The Company does not one Promised Goods or Services that are Immaterial in the Context of a Contract The Company assesses materiality of promised goods or services as performance obligations in the context of a contract and the Company does not 606 The Company does not one |
Cost of Goods and Service [Policy Text Block] | Cost of Revenue Cost of revenue consists of the costs of products purchased for resale, cost relating to service including costs of service contracts to maintain equipment after the warranty period, inbound freight and duty, manufacturing, warehousing, material movement, inspection, scrap, rework, depreciation and in-house product warranty repairs, amortization of acquired technology and any applicable medical device tax. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Costs The Company provides for the estimated cost of standard product warranty against defects in material and workmanship based on historical warranty trends, including the cost of product returns during the warranty period. Warranty costs have not |
Research and Development Expense, Policy [Policy Text Block] | Engineering and Product Development Costs Engineering and product development costs relate to research and development efforts including Company sponsored clinical trials are expensed as incurred. |
Advertising Cost [Policy Text Block] | Advertising Costs The Company expenses advertising costs as incurred. Advertising expense for the years ended December 31, 2022, 2021 2020 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company follows the liability method under ASC Topic 740 Income Taxes 740” 740 December 31, 2022 December 31, 2021, December 31, 2022, not December 31, 2021, 13 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements (in thousands) as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 15,067 $ — $ — $ 15,067 Total Assets $ 15,067 $ — $ — $ 15,067 Fair Value Measurements (in thousands) as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Money market accounts $ 30,573 $ — $ — $ 30,573 Total Assets $ 30,573 $ — $ — $ 30,573 |
Note 5 - Revenue (Tables)
Note 5 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year ended December 31, 2022 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 12,492 $ 2,777 $ 15,269 Service contracts 7,310 1,540 8,850 Supply and source usage agreements — 1,643 1,643 Disposable applicators — 1,776 1,776 Professional services and other — 406 406 $ 19,802 $ 8,142 $ 27,944 Timing of Revenue Recognition Goods transferred at a point in time $ 12,545 $ 4,969 $ 17,514 Services transferred over time 7,257 3,173 10,430 $ 19,802 $ 8,142 $ 27,944 Sales Channels Direct sales force $ 12,468 $ 3,543 $ 16,011 OEM partners 7,334 — 7,334 Channel partners — 4,599 4,599 $ 19,802 $ 8,142 $ 27,944 Year ended December 31, 2021 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 15,661 $ 5,530 $ 21,191 Service contracts 6,358 1,608 7,966 Supply and source usage agreements — 2,340 2,340 Disposable applicators — 1,810 1,810 Professional services and other — 331 331 $ 22,019 $ 11,619 $ 33,638 Timing of Revenue Recognition Goods transferred at a point in time $ 15,584 $ 8,012 $ 23,596 Services transferred over time 6,435 3,607 10,042 $ 22,019 $ 11,619 $ 33,638 Sales Channels Direct sales force $ 14,713 $ 4,421 $ 19,134 OEM partners 7,306 — 7,306 Channel partners — 7,198 7,198 $ 22,019 $ 11,619 $ 33,638 Year ended December 31, 2020 Reportable Segments Detection Therapy Total Major Goods/Service Lines Products $ 16,291 $ 4,535 $ 20,826 Service contracts 5,661 1,333 6,994 Supply and source usage agreements — 1,804 1,804 Professional services — 29 29 Other 45 — 45 $ 21,997 $ 7,701 $ 29,698 Timing of Revenue Recognition Goods transferred at a point in time $ 16,332 $ 4,624 $ 20,956 Services transferred over time 5,665 3,077 8,742 $ 21,997 $ 7,701 $ 29,698 Sales Channels Direct sales $ 13,809 $ 3,773 $ 17,582 OEM partners 8,188 — 8,188 Channel partners — 3,928 3,928 $ 21,997 $ 7,701 $ 29,698 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Balance at December 31, 2022 Balance at December 31, 2021 Receivables, which are included in ‘Trade accounts receivable’ $ 8,898 $ 8,891 Current contract assets, which are included in “Prepaid and other assets” $ 759 $ 1,895 Non-current contract assets, which are included in “other assets” $ 15 $ 844 Contract liabilities, which are included in “Deferred revenue” $ 6,758 $ 6,093 |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Year Ended December 31, 2022 Year Ended December 31, 2021 Balance at beginning of period $ 6,093 $ 6,384 Deferral of revenue 12,129 12,315 Recognition of deferred revenue (11,464 ) (12,606 ) Balance at end of period $ 6,758 $ 6,093 |
Capitalized Contract Cost [Table Text Block] | Years Ended December 31, 2022 2021 Balance at beginning of period $ 302 $ 406 Deferral of costs to obtain a contract 120 249 Recognition of costs to obtain a contract (181 ) (353 ) Balance at end of period $ 241 $ 302 |
Note 6 - Net Loss Per Common _2
Note 6 - Net Loss Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2022 2021 2020 Net loss $ (13,656 ) $ (11,245 ) $ (17,610 ) Basic shares used in the calculation of earnings per share 25,202 24,778 22,140 Effect of dilutive securities: Stock options — — — Restricted stock — — — Diluted shares used in the calculation of earnings per share 25,202 24,778 22,140 Net loss per share: Basic $ (0.54 ) $ (0.45 ) $ (0.80 ) Diluted $ (0.54 ) $ (0.45 ) $ (0.80 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2022 2021 2020 Common stock options 2,610,659 2,486,511 1,869,507 Restricted Stock — 875 29,166 2,610,659 2,487,386 1,898,673 |
Note 7 - Allowance for Doubtf_2
Note 7 - Allowance for Doubtful Accounts (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | 2022 2021 2020 Balance at beginning of period $ 268 $ 111 $ 136 Additions charged to costs and expenses 732 167 94 Reductions (78 ) (10 ) (119 ) Balance at end of period $ 922 $ 268 $ 111 |
Note 8 - Inventories (Tables)
Note 8 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2022 December 31, 2021 Raw materials $ 2,658 $ 2,962 Work in process 101 173 Finished Goods 2,892 1,279 Inventory Gross 5,651 4,414 Inventory Reserve (262 ) (243 ) Inventory Net $ 5,389 $ 4,171 |
Note 9 - Goodwill and Intangi_2
Note 9 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Weighted average useful life 2022 2021 2020 (in years) Gross Carrying Amount Patents and licenses $ 626 $ 619 $ 595 5 Technology 8,257 8,257 8,257 10 Customer relationships 272 272 272 7 Tradename 259 259 259 10 Total amortizable intangible assets 9,414 9,407 9,383 Accumulated Amortization Patents and licenses $ 537 $ 534 $ 529 Technology 7,947 7,769 7,571 Customer relationships 189 162 135 Tradename 259 259 259 Total accumulated amortization 8,932 8,724 8,494 Total amortizable intangible assets, net $ 482 $ 683 $ 889 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated For the years ended amortization December 31: expense 2023 206 2024 121 2025 119 2026 18 2027 18 $ 482 |
Note 10 - Accrued and Other E_2
Note 10 - Accrued and Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | 2022 2021 Accrued salary and related expenses $ 1,248 $ 2,016 Accrued accounts payable 2,913 2,838 Accrued professional fees 400 497 Other accrued expenses 120 291 $ 4,681 $ 5,642 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended December 31, Lease Cost Classification 2022 2021 Operating lease cost - Right of Use Operating expenses $ 859 $ 862 Operating lease cost - Variable Costs Operating expenses 277 186 Total $ 1,136 $ 1,048 Year Ended December 31, 2022 2021 Cash paid for operating cash flows from operating leases $ 931 $ 919 As of December 31, 2022 2021 Weighted-average remaining lease term of operating leases (in years) 3.77 1.33 Weighted-average discount rate for operating leases 6.98 % 5.50 % |
Financing Lease and Lessee Operating Lease Liability Maturity [Table Text Block] | Year Ended December 31: Total 2023 781 2024 846 2025 848 2026 749 2027 685 Thereafter 172 Total lease payments 4,081 Less: effects of discounting (696 ) Total lease liabilities 3,385 Less: current portion of lease liabilities (582 ) Long-term lease liabilities $ 2,803 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Remaining Number of Weighted Average Contractual Term Shares Exercise Price (in years) Outstanding, December 31, 2020 1,869,507 $ 5.91 Granted 865,938 $ 16.33 Exercised (168,450 ) $ 6.10 Forfeited (80,484 ) $ 13.74 Outstanding, December 31, 2021 2,486,511 $ 9.27 5.42 Granted 836,500 $ 4.92 Exercised (73,500 ) $ 2.45 Forfeited (638,519 ) $ 11.45 Outstanding, December 31, 2022 2,610,992 $ 7.54 3.76 Exercisable at December 31, 2020 1,540,287 $ 5.55 Exercisable at December 31, 2021 1,619,855 $ 6.47 Exercisable at December 31, 2022 1,906,189 $ 7.59 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2022 2021 2020 Cost of revenue $ 3 $ 15 $ 30 Engineering and product development 220 356 376 Marketing and sales 518 785 657 General and administrative expense 945 1,627 1,781 $ 1,686 $ 2,783 $ 2,844 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2022 2021 2020 Average risk-free interest rate 2.29 % 0.42 % 0.65 % Expected dividend yield None None None Expected life (in years) 3.5 3.5 3.5 Expected volatility 66.30 - 72.04 % 65.57 - 67.42 % 50.17 - 66.04 % Weighted average fair value $ 2.33 $ 7.22 $ 4.37 |
Summary of Intrinsic Values of Option and Closing Market Price [Table Text Block] | Year Ended December 31, 2022 2021 2020 Outstanding $ — $ 3,820 $ 13,626 Exercisable $ — $ 3,730 $ 11,786 Exercised $ — $ 1,453 $ 1,037 Company’s stock price at December 31 $ 1.83 $ 7.20 $ 13.20 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Year Ended December 31, 2022 2021 2020 Beginning outstanding balance 875 29,166 150,909 Granted — 22,488 — Vested (875 ) (50,779 ) (118,077 ) Forfeited — — (3,666 ) Ending outstanding balance — 875 29,166 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2022 2021 2020 Current provision: Federal $ — $ — $ — State — — 37 Foreign — — — $ — $ — $ 37 Deferred provision: Federal $ — $ 1 $ 1 State — — — Foreign (116 ) — — $ (116 ) $ 1 $ 1 Total $ (116 ) $ 1 $ 38 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2022 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 2.5 % 5.2 % 2.4 % Net state impact of deferred rate change (1.0 )% 0.8 % (0.7 )% Stock compensation expense (0.7 )% 1.3 % 0.9 % Other permanent differences (0.4 )% (0.1 )% (0.1 )% Change in valuation allowance (13.7 )% (24.4 )% (13.4 )% Tax credits 2.0 % 3.1 % 1.4 % Accrual to tax return 0.0 % (1.4 )% 0.0 % FV Mark to market on convertible notes 0.0 % 0.0 % (9.0 )% Foreign Rate Differential 0.0 % 0.0 % 0.0 % True Ups - NOL Expiration/162(m) limits (8.9 )% (5.4 )% (2.8 )% Effective income tax 0.8 % 0.1 % (0.3 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2022 2021 Inventory (Section 263A) $ 311 $ 276 Inventory reserves 61 61 Bad debt reserves 215 67 Other accruals 813 854 Deferred revenue 129 107 Accumulated depreciation/amortization 17 8 Stock options 1,108 795 Developed technology 976 1,242 Tax credits 4,427 4,176 NOL carryforward 38,234 38,383 Lease Liability 792 — Section 174 R&D 1,749 290 Deferred tax assets 48,832 46,259 Valuation allowance (47,930 ) (45,994 ) Right of Use Asset (786 ) (265 ) Goodwill tax amortization (6 ) (5 ) Net deferred tax asset (liability) $ 110 $ (5 ) |
Note 14 - Segment Reporting (Ta
Note 14 - Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2022 2021 2020 Segment revenues: Detection $ 19,802 $ 22,019 $ 21,997 Therapy 8,142 11,619 7,701 Total Revenue $ 27,944 $ 33,638 $ 29,698 Segment gross profit: Detection $ 16,824 $ 18,510 $ 17,856 Therapy 2,988 5,733 3,498 Total gross profit $ 19,812 $ 24,243 $ 21,354 Segment operating income (loss): Detection $ 902 $ 1,563 $ 2,719 Therapy (3,767 ) (1,835 ) (3,028 ) Segment operating income (loss) $ (2,865 ) $ (272 ) $ (309 ) General administrative $ (10,852 ) $ (10,460 ) $ (9,079 ) Interest expense (10 ) (141 ) (476 ) Loss on extinguishment of debt — (386 ) (341 ) Other income (45 ) 15 97 Fair value of convertible debentures — — (7,464 ) Loss before income tax $ (10,907 ) $ (10,972 ) $ (17,263 ) |
Schedule of Segment Related Depreciation and Amortization Expense [Table Text Block] | Year Ended December 31, 2022 2021 2020 Detection depreciation and amortization Depreciation $ 109 $ 123 $ 115 Amortization $ 134 $ 158 164 Therapy depreciation and amortization Depreciation $ 129 $ 129 $ 124 Amortization $ 73 $ 73 128 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Percent of Export sales Region 2022 2021 2020 Europe 24 % 39 % 45 % Taiwan 14 % 12 % 13 % Israel 13 % 0 % 0 % Bangladesh 8 % 0 % 0 % Malaysia 4 % 0 % 0 % Canada 1 % 3 % 5 % China 18 % 35 % 22 % Australia 3 % 0 % 0 % Other 15 % 11 % 15 % Total 100 % 100 % 100 % Total Export Revenue $ 6,976 $ 7,527 $ 6,081 Percent of Export sales Region 2022 2021 2020 France 45 % 47 % 41 % Italy 11 % 5 % 8 % Spain 10 % 17 % 17 % Germany 9 % 4 % 12 % Belgium 8 % 0 % 0 % Switzerland 6 % 8 % 0 % Sweden 4 % 0 % 0 % United Kingdom 1 % 4 % 6 % Russia 0 % 8 % 0 % % % % % % % |
Note 16 - Notes Payable (Tables
Note 16 - Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Input December 31, 2019 February 21, 2020 Company’s stock price $ 7.77 $ 11.64 Conversion price 4.00 4.00 Remaining term (years) 1.97 — Equity volatility 49.00 % N/A Risk free rate 1.57 % N/A Probability of default event 1 0.45 % N/A Utilization of Forced Conversion (if available) 1 100.00 % 100.00 % Exercise of Default Redemption (if available) 1 100.00 % N/A Effective discount rate 1 18.52 % N/A |
Convertible Debentures Fair Value and Principal Value [Table Text Block] | Convertible Debentures December 31, 2019 February 21, 2020 Fair value, in accordance with fair value option $ 13,642 $ 21,164 Principal value outstanding $ 6,970 $ 6,970 |
Note 1 - Organization and Bus_2
Note 1 - Organization and Business (Details Textual) | 12 Months Ended |
Dec. 31, 2022 | |
Number of Operating Segments | 2 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unbilled Receivables, Current | $ 200,000 | ||
Goodwill, Impairment Loss | 0 | $ 0 | |
Impairment, Long-Lived Asset, Held-for-Use, Total | 0 | 0 | |
Advertising Expense | $ 659,000 | $ 689,000 | $ 274,000 |
Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | ||
Minimum [Member] | Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | ||
Maximum [Member] | Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Europe [Member] | |||
Concentration Risk, Percentage | 25% | ||
Export Revenue [Member] | Geographic Concentration Risk [Member] | |||
Concentration Risk, Percentage | 100% | 100% | 100% |
Export Revenue [Member] | Geographic Concentration Risk [Member] | Europe [Member] | |||
Concentration Risk, Percentage | 24% | 39% | 45% |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Disclosure, Total | $ 0 | $ 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Total | $ 0 | $ 0 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Assets and Liabilities which are Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 0 | $ 0 |
Fair Value, Recurring [Member] | ||
Assets, fair value | 15,067 | 30,573 |
Fair Value, Recurring [Member] | Money Market Funds [Member] | ||
Assets, fair value | 15,067 | 30,573 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 15,067 | 30,573 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Assets, fair value | 15,067 | 30,573 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Assets, fair value | $ 0 | $ 0 |
Note 5 - Revenue (Details Textu
Note 5 - Revenue (Details Textual) $ in Millions | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 1.6 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 1.2 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 5 - Revenue - Revenues Dis
Note 5 - Revenue - Revenues Disaggregated by Major Good or Service Line, Timing of Revenue Recognition, and Sales Channel, Reconciled to Our Reportable Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from contracts with customers | $ 27,944 | $ 33,638 | $ 29,698 |
Direct Sales Force [Member] | |||
Revenue from contracts with customers | 16,011 | 19,134 | |
Direct Sales [Member] | |||
Revenue from contracts with customers | 17,582 | ||
OEM Partners [Member] | |||
Revenue from contracts with customers | 7,334 | 7,306 | 8,188 |
Channel Partners [Member] | |||
Revenue from contracts with customers | 4,599 | 7,198 | 3,928 |
Transferred at Point in Time [Member] | |||
Revenue from contracts with customers | 17,514 | 23,596 | 20,956 |
Transferred over Time [Member] | |||
Revenue from contracts with customers | 10,430 | 10,042 | 8,742 |
Product [Member] | |||
Revenue from contracts with customers | 15,269 | 21,191 | 20,826 |
Service Contracts [Member] | |||
Revenue from contracts with customers | 8,850 | 7,966 | 6,994 |
Supply and Source Usage Agreements [Member] | |||
Revenue from contracts with customers | 1,643 | 2,340 | 1,804 |
Disposable Applicators [Member] | |||
Revenue from contracts with customers | 1,776 | 1,810 | |
Professional Services [Member] | |||
Revenue from contracts with customers | 406 | 331 | 29 |
Other [Member] | |||
Revenue from contracts with customers | 45 | ||
Detection [Member] | |||
Revenue from contracts with customers | 19,802 | 22,019 | 21,997 |
Detection [Member] | Direct Sales Force [Member] | |||
Revenue from contracts with customers | 12,468 | 14,713 | |
Detection [Member] | Direct Sales [Member] | |||
Revenue from contracts with customers | 13,809 | ||
Detection [Member] | OEM Partners [Member] | |||
Revenue from contracts with customers | 7,334 | 7,306 | 8,188 |
Detection [Member] | Channel Partners [Member] | |||
Revenue from contracts with customers | 0 | 0 | 0 |
Detection [Member] | Transferred at Point in Time [Member] | |||
Revenue from contracts with customers | 12,545 | 15,584 | 16,332 |
Detection [Member] | Transferred over Time [Member] | |||
Revenue from contracts with customers | 7,257 | 6,435 | 5,665 |
Detection [Member] | Product [Member] | |||
Revenue from contracts with customers | 12,492 | 15,661 | 16,291 |
Detection [Member] | Service Contracts [Member] | |||
Revenue from contracts with customers | 7,310 | 6,358 | 5,661 |
Detection [Member] | Supply and Source Usage Agreements [Member] | |||
Revenue from contracts with customers | 0 | 0 | 0 |
Detection [Member] | Disposable Applicators [Member] | |||
Revenue from contracts with customers | 0 | 0 | |
Detection [Member] | Professional Services [Member] | |||
Revenue from contracts with customers | 0 | 0 | 0 |
Detection [Member] | Other [Member] | |||
Revenue from contracts with customers | 45 | ||
Therapy [Member] | |||
Revenue from contracts with customers | 8,142 | 11,619 | 7,701 |
Therapy [Member] | Direct Sales Force [Member] | |||
Revenue from contracts with customers | 3,543 | 4,421 | |
Therapy [Member] | Direct Sales [Member] | |||
Revenue from contracts with customers | 3,773 | ||
Therapy [Member] | OEM Partners [Member] | |||
Revenue from contracts with customers | 0 | 0 | 0 |
Therapy [Member] | Channel Partners [Member] | |||
Revenue from contracts with customers | 4,599 | 7,198 | 3,928 |
Therapy [Member] | Transferred at Point in Time [Member] | |||
Revenue from contracts with customers | 4,969 | 8,012 | 4,624 |
Therapy [Member] | Transferred over Time [Member] | |||
Revenue from contracts with customers | 3,173 | 3,607 | 3,077 |
Therapy [Member] | Product [Member] | |||
Revenue from contracts with customers | 2,777 | 5,530 | 4,535 |
Therapy [Member] | Service Contracts [Member] | |||
Revenue from contracts with customers | 1,540 | 1,608 | 1,333 |
Therapy [Member] | Supply and Source Usage Agreements [Member] | |||
Revenue from contracts with customers | 1,643 | 2,340 | 1,804 |
Therapy [Member] | Disposable Applicators [Member] | |||
Revenue from contracts with customers | 1,776 | 1,810 | |
Therapy [Member] | Professional Services [Member] | |||
Revenue from contracts with customers | $ 406 | $ 331 | 29 |
Therapy [Member] | Other [Member] | |||
Revenue from contracts with customers | $ 0 |
Note 5 - Revenue - Summary of R
Note 5 - Revenue - Summary of Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Receivables, which are included in ‘Trade accounts receivable’ | $ 8,898 | $ 8,891 | |
Current contract assets, which are included in “Prepaid and other assets” | 759 | 1,895 | |
Non-current contract assets, which are included in “other assets” | 15 | 844 | |
Contract liabilities, which are included in “Deferred revenue” | $ 6,758 | $ 6,093 | $ 6,384 |
Note 5 - Revenue - Summary of C
Note 5 - Revenue - Summary of Changes in Deferred Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance at beginning of period | $ 6,093 | $ 6,384 |
Deferral of revenue | 12,129 | 12,315 |
Recognition of deferred revenue | (11,464) | (12,606) |
Balance at end of period | $ 6,758 | $ 6,093 |
Note 5 - Revenue - Schedule of
Note 5 - Revenue - Schedule of Changes of Capitalized Costs to Obtain Contract (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 302 | $ 406 |
Deferral of costs to obtain a contract | 120 | 249 |
Recognition of costs to obtain a contract | (181) | (353) |
Balance | $ 241 | $ 302 |
Note 6 - Net Loss Per Common _3
Note 6 - Net Loss Per Common Share - Calculation of Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (13,656) | $ (11,245) | $ (17,610) |
Basic shares used in the calculation of earnings per share (in shares) | 25,202 | 24,778 | 22,140 |
Stock options (in shares) | 0 | 0 | 0 |
Restricted stock (in shares) | 0 | 0 | 0 |
Diluted shares used in the calculation of earnings per share (in shares) | 25,202 | 24,778 | 22,140 |
Basic (in dollars per share) | $ (0.54) | $ (0.45) | $ (0.80) |
Diluted (in dollars per share) | $ (0.54) | $ (0.45) | $ (0.80) |
Note 6 - Net Loss Per Common _4
Note 6 - Net Loss Per Common Share - Schedule of Anti-dilutive Shares Excluded From Computation of Diluted Net Loss Per Share (Details) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Common stock options, warrants and restricted stock (in shares) | 2,610,659 | 2,487,386 | 1,898,673 |
Share-Based Payment Arrangement, Option [Member] | |||
Common stock options, warrants and restricted stock (in shares) | 2,610,659 | 2,486,511 | 1,869,507 |
Restricted Stock [Member] | |||
Common stock options, warrants and restricted stock (in shares) | 0 | 875 | 29,166 |
Note 7 - Allowance for Doubtf_3
Note 7 - Allowance for Doubtful Accounts - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 268 | $ 111 | $ 136 |
Additions charged to costs and expenses | 732 | 167 | 94 |
Reductions | (78) | (10) | (119) |
Balance | $ 922 | $ 268 | $ 111 |
Note 8 - Inventory - Schedule o
Note 8 - Inventory - Schedule of Current Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Raw materials | $ 2,658 | $ 2,962 |
Work in process | 101 | 173 |
Finished Goods | 2,892 | 1,279 |
Inventory Gross | 5,651 | 4,414 |
Inventory Reserve | (262) | (243) |
Inventory Net | $ 5,389 | $ 4,171 |
Note 9 - Goodwill and Intangi_3
Note 9 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill, Ending Balance | $ 8,362,000 | $ 8,362,000 | |
Goodwill, Period Increase (Decrease), Total | 0 | 0 | |
Goodwill, Impairment Loss | 0 | 0 | |
Goodwill, Other Increase (Decrease) | 0 | 0 | |
Amortization of Intangible Assets | 211,000 | 230,000 | $ 309,000 |
Detection [Member] | |||
Goodwill, Ending Balance | $ 8,362,000 | $ 8,362,000 |
Note 9 - Goodwill and Intangi_4
Note 9 - Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gross Carrying Amount | $ 9,414 | $ 9,407 | $ 9,383 |
Intangible assets, accumulated amortization | 8,932 | 8,724 | 8,494 |
Intangible assets, net of accumulated amortization of $8,932 in 2022 and $8,724 in 2021 | 482 | 683 | 889 |
Patents and Licenses [Member] | |||
Gross Carrying Amount | $ 626 | 619 | 595 |
Weighted average useful life (Year) | 5 years | ||
Intangible assets, accumulated amortization | $ 537 | 534 | 529 |
Developed Technology Rights [Member] | |||
Gross Carrying Amount | $ 8,257 | 8,257 | 8,257 |
Weighted average useful life (Year) | 10 years | ||
Intangible assets, accumulated amortization | $ 7,947 | 7,769 | 7,571 |
Customer Relationships [Member] | |||
Gross Carrying Amount | $ 272 | 272 | 272 |
Weighted average useful life (Year) | 7 years | ||
Intangible assets, accumulated amortization | $ 189 | 162 | 135 |
Trade Names [Member] | |||
Gross Carrying Amount | $ 259 | 259 | 259 |
Weighted average useful life (Year) | 10 years | ||
Intangible assets, accumulated amortization | $ 259 | $ 259 | $ 259 |
Note 9 - Goodwill and Intangi_5
Note 9 - Goodwill and Intangible assets - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
2023 | $ 206 | ||
2024 | 121 | ||
2025 | 119 | ||
2026 | 18 | ||
2027 | 18 | ||
Intangible Assets, Net (Excluding Goodwill), Total | $ 482 | $ 683 | $ 889 |
Note 10 - Accrued and Other E_3
Note 10 - Accrued and Other Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Accrued salary and related expenses | $ 1,248 | $ 2,016 |
Accrued accounts payable | 2,913 | 2,838 |
Accrued professional fees | 400 | 497 |
Other accrued expenses | 120 | 291 |
Accounts Payable and Accrued Liabilities, Current, Total | $ 4,681 | $ 5,642 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Nov. 30, 2022 | May 31, 2022 | Oct. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Increase (Decrease) in Operating Lease Liability | $ (767,000) | $ (778,000) | $ (752,000) | |||
California Facility Lease [Member] | ||||||
Increase (Decrease) in Operating Lease Liability | $ 2,400,000 | |||||
Increase (Decrease) in Operating Lease Right of Use Assets | $ 2,400,000 | |||||
Nashua, NH Office Lease [Member] | ||||||
Increase (Decrease) in Operating Lease Liability | $ 600,000 | |||||
Increase (Decrease) in Operating Lease Right of Use Assets | $ 600,000 | |||||
Nashua Warehouse Lease [Member] | ||||||
Increase (Decrease) in Operating Lease Liability | $ 79,000 | |||||
Increase (Decrease) in Operating Lease Right of Use Assets | $ 79,000 |
Note 11 - Leases - Schedule of
Note 11 - Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating lease cost - Right of Use | $ 859 | $ 862 |
Operating lease cost - Variable Costs | 277 | 186 |
Total | 1,136 | 1,048 |
Cash paid for operating cash flows from operating leases | $ 931 | $ 919 |
Weighted-average remaining lease term of operating leases (in years) (Year) | 3 years 9 months 7 days | 1 year 3 months 29 days |
Weighted-average discount rate for operating leases | 6.98% | 5.50% |
Note 11 - Leases - Summary of D
Note 11 - Leases - Summary of Detained Information of Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
2023 | $ 781 | |
2024 | 846 | |
2025 | 848 | |
2026 | 749 | |
2027 | 685 | |
Thereafter | 172 | |
Total lease payments | 4,081 | |
Less: effects of discounting | (696) | |
Total lease liabilities | 3,385 | |
Less: current portion of lease liabilities | (582) | $ (889) |
Long-term lease liabilities | $ 2,803 | $ 266 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) - USD ($) | 12 Months Ended | |||||
Mar. 02, 2021 | Dec. 17, 2020 | Apr. 27, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 470,704 | 1,562,500 | 73,500 | 168,450 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 8 | |||||
Gross Proceeds From Issuance of Common Stock | $ 6,600,000 | $ 12,500,000 | ||||
Proceeds from Issuance of Common Stock | $ 6,100,000 | 12,300,000 | $ 0 | $ 23,229,000 | $ 18,285,000 | |
Stock Issued During Period, Value, New Issues | $ 25,000,000 | $ 23,229,000 | $ 18,284,000 | |||
Partners' Capital Account, Units, Sale of Units, Total (in shares) | 1,393,738 | |||||
Sale of Stock, Price Per Share (in dollars per share) | $ 18 | |||||
Partners' Capital Account, Public Sale of Units Net of Offering Costs | $ 23,200,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,700,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | |||||
Stock Plans [Member] | ||||||
Minimum Expected Percentage of Options Exercise Price to Fair Market Value of Common Stock | 100% | |||||
The 2012 Stock Option Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 2,016 | |||||
The 2016 Stock Option Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,448,471 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 4,700,000 | 2,600,000 | ||||
ESPP [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 950,000 | |||||
Percentage of Voting Right not Eligible for ESPP | 5% | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Maximum Employee Subscription Rate | 15% | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Discount from Market Price, Offering Date | 85% | |||||
Share Based Compensation Arrangement By Share Based Payment Award, Maximum Amount of Shares Per Employee | $ 25,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 46,096 | 24,786 | ||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 836,824 | |||||
Underwriting Agreement [Member] | ||||||
Sale of Stock, Price Per Share (in dollars per share) | $ 16.92 | |||||
Reimbursement of Expenses in Connection With The Offering | $ 125,000 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Summary of Stock Option Activity for Stock Option Plan (Details) - $ / shares | 12 Months Ended | ||||
Dec. 17, 2020 | Apr. 27, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Outstanding, shares (in shares) | 2,486,511 | 1,869,507 | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 9.27 | $ 5.91 | |||
Granted, shares (in shares) | 836,500 | 865,938 | |||
Granted, weighted average exercise price (in dollars per share) | $ 4.92 | $ 16.33 | |||
Exercised, shares (in shares) | (470,704) | (1,562,500) | (73,500) | (168,450) | |
Exercised, weighted average exercise price (in dollars per share) | $ 2.45 | $ 6.10 | |||
Forfeited, shares (in shares) | (638,519) | (80,484) | |||
Forfeited, weighted average exercise price (in dollars per share) | $ 11.45 | $ 13.74 | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 7.54 | $ 9.27 | $ 5.91 | ||
Outstanding, weighted average remaining contractual term (Year) | 3 years 9 months 3 days | 5 years 5 months 1 day | |||
Outstanding, shares (in shares) | 2,610,992 | 2,486,511 | 1,869,507 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 7.54 | $ 9.27 | $ 5.91 | ||
Exercisable, shares (in shares) | 1,906,189 | 1,619,855 | 1,540,287 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 7.59 | $ 6.47 | $ 5.55 |
Note 12 - Stockholders' Equit_4
Note 12 - Stockholders' Equity - Stock-Based Compensation Expense Including Options and Restricted Stock by Category (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Allocated share-based compensation expense | $ 1,686 | $ 2,783 | $ 2,844 |
Cost of Sales [Member] | |||
Allocated share-based compensation expense | 3 | 15 | 30 |
Engineering and Product Development [Member] | |||
Allocated share-based compensation expense | 220 | 356 | 376 |
Selling and Marketing Expense [Member] | |||
Allocated share-based compensation expense | 518 | 785 | 657 |
General and Administrative Expense [Member] | |||
Allocated share-based compensation expense | $ 945 | $ 1,627 | $ 1,781 |
Note 12 - Stockholders' Equit_5
Note 12 - Stockholders' Equity - Options Granted under Company's Stock Incentive Plans, Valuation Assumptions and Fair Values (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Average risk-free interest rate | 2.29% | 0.42% | 0.65% |
Expected dividend yield | 0% | 0% | 0% |
Expected life (in years) (Year) | 3 years 6 months | 3 years 6 months | 3 years 6 months |
Weighted average fair value (in dollars per share) | $ 2.33 | $ 7.22 | $ 4.37 |
Minimum [Member] | |||
Expected volatility | 66.30% | 65.57% | 50.17% |
Maximum [Member] | |||
Expected volatility | 72.04% | 67.42% | 66.04% |
Note 12 - Stockholders' Equit_6
Note 12 - Stockholders' Equity - Summary of Intrinsic Values of Options (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Outstanding | $ 0 | $ 3,820 | $ 13,626 |
Exercisable | 0 | 3,730 | 11,786 |
Exercised | $ 0 | $ 1,453 | $ 1,037 |
Company’s stock price at December 31 (in dollars per share) | $ 1.83 | $ 7.20 | $ 13.20 |
Note 12 - Stockholders' Equit_7
Note 12 - Stockholders' Equity - Summary of Restricted Stock Activity for Equity Incentive Plans (Details) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning outstanding balance (in shares) | 875 | 29,166 | 150,909 |
Granted (in shares) | 0 | 22,488 | 0 |
Vested (in shares) | (875) | (50,779) | (118,077) |
Forfeited (in shares) | 0 | 0 | (3,666) |
Ending outstanding balance (in shares) | 0 | 875 | 29,166 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Deferred Tax Assets, Tax Credit Carryforwards, Total | $ 4,427,000 | $ 4,176,000 |
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | |
Xoft Inc [Member] | ||
Net Operating Loss, Limitations on Use | 4,600,000 | |
Net Operating Loss Carryforwards, Limitation on Use | 656,000 | |
Future Income Tax Liabilities Offset With Operation Loss Carryforward | 4,400,000 | |
Deferred Tax Assets, Tax Credit Carryforwards, Total | 1,500,000 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards | 158,400,000 | |
Domestic Tax Authority [Member] | Expires Between 2023 and 2037 [Member] | ||
Operating Loss Carryforwards | 116,300,000 | |
Domestic Tax Authority [Member] | Indefinite Period [Member] | ||
Operating Loss Carryforwards | 42,100,000 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards | 500,000 | |
Operating Loss Carryforwards, Valuation Allowance | $ 0 |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Federal | $ 0 | $ 0 | $ 0 |
State | 0 | 0 | 37 |
Foreign | 0 | 0 | 0 |
Current Income Tax Expense (Benefit), Total | 0 | 0 | 37 |
Federal | 0 | 1 | 1 |
State | 0 | 0 | 0 |
Foreign | (116) | 0 | 0 |
Deferred Income Tax Expense (Benefit), Total | (116) | 1 | 1 |
Total | $ (116) | $ 1 | $ 38 |
Note 13 - Income Taxes - Summar
Note 13 - Income Taxes - Summary of Effective and the Federal Statutory Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Federal statutory rate | 21% | 21% | 21% |
State income taxes, net of federal benefit | 2.50% | 5.20% | 2.40% |
Net state impact of deferred rate change | (1.00%) | 0.80% | (0.70%) |
Stock compensation expense | (0.70%) | 1.30% | 0.90% |
Other permanent differences | (0.40%) | (0.10%) | (0.10%) |
Change in valuation allowance | (13.70%) | (24.40%) | (13.40%) |
Tax credits | 2% | 3.10% | 1.40% |
Accrual to tax return | 0% | (1.40%) | 0% |
FV Mark to market on convertible notes | 0% | 0% | (9.00%) |
Foreign Rate Differential | 0% | 0% | 0% |
True Ups - NOL Expiration/162(m) limits | (8.90%) | (5.40%) | (2.80%) |
Effective income tax | 0.80% | 0.10% | (0.30%) |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Inventory (Section 263A) | $ 311 | $ 276 |
Inventory reserves | 61 | 61 |
Bad debt reserves | 215 | 67 |
Other accruals | 813 | 854 |
Deferred revenue | 129 | 107 |
Accumulated depreciation/amortization | 17 | 8 |
Stock options | 1,108 | 795 |
Developed technology | 976 | 1,242 |
Tax credits | 4,427 | 4,176 |
NOL carryforward | 38,234 | 38,383 |
Lease Liability | 792 | 0 |
Section 174 R&D | 1,749 | 290 |
Deferred tax assets | 48,832 | 46,259 |
Valuation allowance | (47,930) | (45,994) |
Right of Use Asset | (786) | (265) |
Goodwill tax amortization | (6) | (5) |
Net deferred tax asset (liability) | $ 110 | |
Net deferred tax asset (liability) | $ (5) |
Note 14 - Segment Reporting (De
Note 14 - Segment Reporting (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Number of Reportable Segments | 2 | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 8,898 | $ 8,891 | |
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Non-US [Member] | |||
Revenues, Total | $ 7,000 | $ 7,500 | $ 6,100 |
Concentration Risk, Percentage | 25% | 22% | 20% |
Accounts Receivable, after Allowance for Credit Loss, Total | $ 4,000 | $ 3,100 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | GE Healthcare [Member] | |||
Revenues, Total | $ 4,400 | $ 4,800 | $ 5,000 |
Concentration Risk, Percentage | 16% | 14% | 17% |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Four OEM Partners [Member] | |||
Concentration Risk, Percentage | 21% | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Four OEM Partners [Member] | Detection [Member] | |||
Concentration Risk, Percentage | 29% | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Detection OEM Partners [Member] | |||
Concentration Risk, Percentage | 26% | 26% | 28% |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Detection OEM Partners [Member] | Detection [Member] | |||
Concentration Risk, Percentage | 37% | 40% | 37% |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Major Direct Customer [Member] | |||
Revenues, Total | $ 8,000 | ||
Concentration Risk, Percentage | 2% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | GE Healthcare [Member] | |||
Concentration Risk, Percentage | 11% | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 1,000 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | OEM Partners [Member] | |||
Concentration Risk, Percentage | 22% | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 2,000 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Four Largest Therapy Customers [Member] | |||
Concentration Risk, Percentage | 24% | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 2,100 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Largest Detection Direct Customer [Member] | |||
Concentration Risk, Percentage | 17% | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 1,500 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | OEM, Four Largest Therapy, and Largest Detection Customers [Member] | |||
Concentration Risk, Percentage | 40% | ||
Accounts Receivable, after Allowance for Credit Loss, Total | $ 3,600 |
Note 14 - Segment Reporting - S
Note 14 - Segment Reporting - Summary of Segment Revenues, Gross Profit, Segment Operating Income or Loss and Reconciliation of Segment Operating Income or Loss to GAAP Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 27,944 | $ 33,638 | $ 29,698 |
Total gross profit | 19,812 | 24,243 | 21,354 |
General administrative | (11,234) | (10,406) | (9,117) |
Interest expense | (10) | (141) | (476) |
Loss on extinguishment of debt | 0 | (386) | (341) |
Other | (45) | 0 | 0 |
Loss on fair value of convertible debentures | 0 | 0 | (7,464) |
Loss before income tax expense | (13,772) | (11,244) | (17,572) |
Operating Segments [Member] | |||
Revenue | 27,944 | 33,638 | 29,698 |
Total gross profit | 19,812 | 24,243 | 21,354 |
Segment operating income (loss) | (2,865) | (272) | (309) |
General administrative | (10,852) | (10,460) | (9,079) |
Interest expense | (10) | (141) | (476) |
Loss on extinguishment of debt | 0 | (386) | (341) |
Other | (45) | 15 | 97 |
Loss on fair value of convertible debentures | 0 | 0 | (7,464) |
Loss before income tax expense | (10,907) | (10,972) | (17,263) |
Detection [Member] | Operating Segments [Member] | |||
Revenue | 19,802 | 22,019 | 21,997 |
Total gross profit | 16,824 | 18,510 | 17,856 |
Segment operating income (loss) | 902 | 1,563 | 2,719 |
Therapy [Member] | Operating Segments [Member] | |||
Revenue | 8,142 | 11,619 | 7,701 |
Total gross profit | 2,988 | 5,733 | 3,498 |
Segment operating income (loss) | $ (3,767) | $ (1,835) | $ (3,028) |
Note 14 - Segment Reporting -_2
Note 14 - Segment Reporting - Summary of Segment Depreciation and Amortization Included in Segment Operating Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation | $ 310 | $ 327 | $ 268 |
Amortization | 211 | 230 | 309 |
Detection [Member] | Operating Segments [Member] | |||
Depreciation | 109 | 123 | 115 |
Amortization | 134 | 158 | 164 |
Therapy [Member] | Operating Segments [Member] | |||
Depreciation | 129 | 129 | 124 |
Amortization | $ 73 | $ 73 | $ 128 |
Note 14 - Segment Reporting -_3
Note 14 - Segment Reporting - Summary of Concentration of Revenue by Geographic Area (Details) - Export Revenue [Member] - Geographic Concentration Risk [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Percent of Export sales | 100% | 100% | 100% |
Total Export Revenue | $ 6,976 | $ 7,527 | $ 6,081 |
Europe [Member] | |||
Percent of Export sales | 24% | 39% | 45% |
FRANCE | |||
Percent of Export sales | 45% | 47% | 41% |
TAIWAN | |||
Percent of Export sales | 14% | 12% | 13% |
ITALY | |||
Percent of Export sales | 11% | 5% | 8% |
ISRAEL | |||
Percent of Export sales | 13% | 0% | 0% |
SPAIN | |||
Percent of Export sales | 10% | 17% | 17% |
BANGLADESH | |||
Percent of Export sales | 8% | 0% | 0% |
GERMANY | |||
Percent of Export sales | 9% | 4% | 12% |
MALAYSIA | |||
Percent of Export sales | 4% | 0% | 0% |
BELGIUM | |||
Percent of Export sales | 8% | 0% | 0% |
CANADA | |||
Percent of Export sales | 1% | 3% | 5% |
SWITZERLAND | |||
Percent of Export sales | 6% | 8% | 0% |
CHINA | |||
Percent of Export sales | 18% | 35% | 22% |
SWEDEN | |||
Percent of Export sales | 4% | 0% | 0% |
AUSTRALIA | |||
Percent of Export sales | 3% | 0% | 0% |
UNITED KINGDOM | |||
Percent of Export sales | 1% | 4% | 6% |
Other Geographic Locations [Member] | |||
Percent of Export sales | 15% | 11% | 15% |
RUSSIAN FEDERATION | |||
Percent of Export sales | 0% | 8% | 0% |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Apr. 13, 2021 | Jun. 30, 2021 | Dec. 31, 2022 | Jan. 30, 2017 | Dec. 31, 2016 | |
Purchase Obligation, Total | $ 4,600,000 | ||||
Minimum Annual Royalty Payment | 250,000 | ||||
Fair Value of Patent License | 100,000 | ||||
Minimum Royalty Obligations | $ 200,000 | ||||
Litigation Settlement, Amount Awarded to Other Party | $ 85,000 | ||||
Litigation Settlement, Amount Awarded from Other Party | $ 50,000 | ||||
Litigation Settlement, Expense | $ 93,000 | ||||
VersaVue Software and DynaCAD Product and Related Assets [Member] | |||||
Disposal Group, Including Discontinued Operation, Consideration | $ 3,200,000 | ||||
Disposal Group Including Discontinued Operation Holdback Reserve | $ 350,000 | ||||
Disposal Group Including Discontinued Operation Consideration, Net of Holdback Reserve | $ 2,900,000 |
Note 16 - Notes Payable (Detail
Note 16 - Notes Payable (Details Textual) | 1 Months Ended | 12 Months Ended | ||||||||
Apr. 27, 2021 USD ($) | Mar. 30, 2020 USD ($) | Feb. 21, 2020 USD ($) $ / shares | Mar. 31, 2020 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) shares | Dec. 31, 2019 USD ($) | Dec. 20, 2018 USD ($) | Aug. 07, 2017 USD ($) | |
Repayments of Lines of Credit | $ 0 | $ 0 | $ 2,775,000 | |||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 0 | $ (386,000) | (341,000) | |||||||
Convertible Debt, Fair Value Disclosures | $ 21,164,000 | $ 13,642,000 | ||||||||
Convertible Debt [Member] | ||||||||||
Debt Instrument, Face Amount | $ 7,000,000 | |||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 4 | |||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 1,742,500 | |||||||||
Gain (Loss) on Sales of Loans, Net, Total | $ (7,500,000) | |||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares) | shares | 1,816,466 | |||||||||
Convertible Debt, Fair Value Disclosures | $ 21,200,000 | |||||||||
Silicon Valley Bank [Member] | ||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (341,000) | |||||||||
Final Payment of Loan | $ 510,000 | 185,000 | ||||||||
Termination Loans | 114,000 | 114,000 | ||||||||
Unamortized Debt Issuance Expense | $ 42,000 | |||||||||
Other Costs | 10,000 | |||||||||
Silicon Valley Bank [Member] | Revolving Credit Facility [Member] | ||||||||||
Long-Term Line of Credit, Total | 5,000,000 | $ 4,000,000 | ||||||||
Repayments of Lines of Credit | $ 7,354,283 | |||||||||
Western Alliance Bank [Member] | ||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (386,000) | |||||||||
Debt Prepayment Cost | 140,000 | |||||||||
Final Payment of Loan | 122,000 | |||||||||
Termination Loans | 65,000 | |||||||||
Unamortized Debt Issuance Expense | $ 58,000 | |||||||||
Term Loan A [Member] | Silicon Valley Bank [Member] | ||||||||||
Long-Term Line of Credit, Total | $ 7,000,000 | $ 6,000,000 | ||||||||
Make Whole Provision [Member] | Convertible Debt [Member] | ||||||||||
Debt Instrument, Face Amount | $ 697,000 | |||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 76,966 |
Note 16 - Notes Payable - Sched
Note 16 - Notes Payable - Schedule of Key Inputs to Simulation Model Utilized to Estimate Fair Value of Convertible Debentures (Details) | Feb. 21, 2020 | Dec. 31, 2019 | |
Measurement Input, Share Price [Member] | |||
Debt Instrument Measurement Input | 11.64 | 7.77 | |
Measurement Input, Conversion Price [Member] | |||
Debt Instrument Measurement Input | 4 | 4 | |
Measurement Input, Expected Term [Member] | |||
Debt Instrument Measurement Input | 1.97 | ||
Measurement Input, Price Volatility [Member] | |||
Debt Instrument Measurement Input | 49 | ||
Measurement Input, Risk Free Interest Rate [Member] | |||
Debt Instrument Measurement Input | 1.57 | ||
Measurement Input, Default Rate [Member] | |||
Debt Instrument Measurement Input | [1] | 0.45 | |
Measurement Input, Utilization of Forced Conversion [Member] | |||
Debt Instrument Measurement Input | [1] | 100 | 100 |
Measurement Input, Exercise of Default Redemption [Member] | |||
Debt Instrument Measurement Input | [1] | 100 | |
Measurement Input, Discount Rate [Member] | |||
Debt Instrument Measurement Input | [1] | 18.52 | |
[1]Represents a Level 3 unobservable input, as defined in Note 4 - Fair Value Measurements, below. |
Note 16 - Notes Payable - Sch_2
Note 16 - Notes Payable - Schedule of Fair Value and Principal Value of Convertible Debentures (Details) - USD ($) $ in Thousands | Feb. 21, 2020 | Dec. 31, 2019 |
Fair value, in accordance with fair value option | $ 21,164 | $ 13,642 |
Principal value outstanding | $ 6,970 | $ 6,970 |
Note 17 - Employee Benefit Pl_2
Note 17 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 90% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0.6 | $ 0.5 |
Note 18 - Subsequent Events (De
Note 18 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Millions | Mar. 20, 2023 USD ($) |
Restructuring and Related Cost, Expected Cost, Total | $ 0.3 |
Xoft Inc [Member] | |
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent | 28% |
Restructuring and Related Cost, Number of Positions Eliminated | 23 |
Therapy [Member] | |
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent | 50% |
Restructuring and Related Cost, Number of Positions Eliminated | 12 |