Anika Therapeutics (ANIK) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-14027
Entity Registrant Name	Anika Therapeutics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3145961
Entity Address, Address Line One	32 Wiggins Avenue
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	457-9000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ANIK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		14,828,456
Entity Central Index Key	0000898437
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 68,629	$ 72,867
Accounts receivable, net	32,077	35,961
Inventories, net	49,408	46,386
Prepaid expenses and other current assets	8,848	8,095
Total current assets	158,962	163,309
Property and equipment, net	46,057	46,198
Right-of-use assets	28,181	28,767
Other long-term assets	17,571	18,672
Deferred tax assets	1,273	1,489
Intangible assets, net	4,297	4,626
Goodwill	7,403	7,571
Total assets	263,744	270,632
Current liabilities:	10,022	9,860
Accrued expenses and other current liabilities	18,438	21,199
Total current liabilities	28,460	31,059
Other long-term liabilities	404	404
Lease liabilities	26,344	26,904
Commitments and contingencies (Note 9)
Common stock, $0.01 par value; 90,000 shares authorized, 15,009 issued and 14,821 outstanding and 14,848 issued and 14,660 outstanding at March 31, 2024 and December 31, 2023, respectively	148	147
Preferred stock, $0.01 par value; 1,250 shares authorized, no shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	0	0
Additional paid-in-capital	91,165	90,009
Accumulated other comprehensive loss	(6,315)	(5,943)
Retained earnings	123,538	128,052
Total stockholders’ equity	208,536	212,265
Total liabilities and stockholders’ equity	$ 263,744	$ 270,632

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,250	1,250
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	90,000	90,000
Common stock, shares issued (in shares)	15,009	14,848
Common stock, shares outstanding (in shares)	14,821	14,660

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 40,523	$ 37,924
Cost of revenue	15,895	15,081
Gross Profit	24,628	22,843
Operating Expenses:
Research and development	8,164	8,400
Selling, general and administrative	21,527	26,996
Total operating expenses	29,691	35,396
Loss from operations	(5,063)	(12,553)
Interest and other income (expense), net	592	539
Loss before income taxes	(4,471)	(12,014)
Provision for (benefit from) income taxes	43	(1,664)
Net loss	$ (4,514)	$ (10,350)
Net loss per share:
Basic (in dollars per share)	$ (0.31)	$ (0.71)
Diluted (in dollars per share)	$ (0.31)	$ (0.71)
Weighted average common shares outstanding:
Basic (in shares)	14,698	14,653
Diluted (in shares)	14,698	14,653
Net loss	$ (4,514)	$ (10,350)
Foreign currency translation adjustment	(372)	272
Comprehensive loss	$ (4,886)	$ (10,078)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Restricted Stock Units (RSUs) [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Restricted Stock Units (RSUs) [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member] Restricted Stock Units (RSUs) [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member] Restricted Stock Units (RSUs) [Member]	AOCI Attributable to Parent [Member]	Restricted Stock Units (RSUs) [Member]	Total
Balance (in shares) at Dec. 31, 2022		14,625
Balance at Dec. 31, 2022		$ 146		$ 81,141		$ 210,719		$ (6,443)		$ 285,563
Issuance of common stock for equity awards (in shares)		1
Issuance of common stock for equity awards		$ 0		7		0		0		7
Vesting of restricted stock units (in shares)		177
Vesting of restricted stock units		$ 2		(2)		0		0		0
Stock-based compensation expense		$ 0		3,717		0		0		3,717
Retirement of common stock for minimum tax withholdings (in shares)		(62)
Retirement of common stock for minimum tax withholdings		$ (1)		(1,620)		0		0		(1,621)
Net loss		0		0		(10,350)		0		(10,350)
Other comprehensive loss		$ 0		0		0		272		272
Balance (in shares) at Mar. 31, 2023		14,741
Balance at Mar. 31, 2023		$ 147		83,243		200,369		(6,171)		277,588
Balance (in shares) at Dec. 31, 2023		14,660
Balance at Dec. 31, 2023		$ 147		90,009		128,052		(5,943)		212,265
Issuance of common stock for equity awards (in shares)		1
Issuance of common stock for equity awards		$ 0		23		0		0		23
Vesting of restricted stock units (in shares)	250
Vesting of restricted stock units	$ 2		$ (2)		$ 0		$ 0		$ 0
Stock-based compensation expense		$ 0		3,430		0		0		3,430
Retirement of common stock for minimum tax withholdings (in shares)		(90)
Retirement of common stock for minimum tax withholdings		$ (1)		(2,295)		0		0		(2,296)
Net loss		0		0		(4,514)		0		(4,514)
Other comprehensive loss		$ 0		0		0		(372)		(372)
Balance (in shares) at Mar. 31, 2024		14,821
Balance at Mar. 31, 2024		$ 148		$ 91,165		$ 123,538		$ (6,315)		$ 208,536

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (4,514)	$ (10,350)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciations	1,734	1,605
Amortization of acquisition related intangible assets	329	1,946
Non-cash operating lease cost	565	542
Stock-based compensation expense	3,590	3,717
Deferred income taxes	193	(2,373)
Provision for credit losses	93	24
Provision for inventory	2,063	629
Changes in operating assets and liabilities:
Accounts receivable	3,624	4,057
Inventories	(4,090)	(3,063)
Prepaid expenses, other current and long-term assets	(548)	(462)
Accounts payable	401	(713)
Operating lease liabilities	(546)	(523)
Accrued expenses, other current and long-term liabilities	(3,110)	665
Income taxes	90	681
Net cash used in operating activities	(126)	(3,618)
Cash flows from investing activities:
Purchases of property and equipment	1,808	1,389
Net cash used in investing activities	(1,808)	(1,389)
Cash flows from financing activities:
Cash paid for tax withheld on vested restricted stock awards	2,296	1,620
Proceeds from exercises of equity awards	23	7
Net cash used in financing activities	(2,273)	(1,613)
Exchange rate impact on cash	(31)	30
Decrease in cash and cash equivalents	(4,238)	(6,590)
Cash and cash equivalents at beginning of period	72,867	86,327
Cash and cash equivalents at end of period	68,629	79,737
Non-cash investing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 622	$ 729

Note 1 - Nature of Business

Note 1 - Nature of Business	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Nature of Operations [Text Block]	1. Nature of Business Anika Therapeutics, Inc. (the “Company”) is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care, including in the areas of osteoarthritis (“OA”) pain management, regenerative solutions, sports medicine and Arthrosurface joint solutions. In early 2020, the Company expanded its overall technology platform through its strategic acquisitions of Parcus Medical, LLC (“Parcus Medical”), a sports medicine implant and instrumentation company, and Arthrosurface, Inc. (“Arthrosurface”), a company specializing in less invasive, bone preserving partial and total joint replacement solutions. These acquisitions broadened the Company's product portfolio, developed over its 30 years of expertise in hyaluronic acid technology, into joint preservation and restoration, added higher-growth revenue streams, increased its commercial capabilities, diversified its revenue base, and expanded its product pipeline and research and development expertise. The Company is subject to risks common to companies in the life sciences industry including, but not limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, commercialization of existing and new products, and compliance with U.S. Food and Drug Administration (“FDA”) and foreign regulations and approval requirements, as well as the ability to grow the Company’s business through appropriate commercial strategies.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and related notes have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The financial statements include the accounts of Anika Therapeutics, Inc. and its subsidiaries. Inter-company transactions and balances have been eliminated. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been or omitted pursuant to SEC rules and regulations relating to interim financial statements. The December 31, 2023 balances reported herein were derived from the audited consolidated financial statements. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to fairly state the condensed consolidated financial statements. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the Company’s annual financial statements filed with its Annual Report on Form 10-K for the year ended December 31, 2023. The results of operations for the three-month period ended March 31, 2024 are not indicative of the results to be expected for the year ending December 31, 2024. Segment Information Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker as of March 31, 2024 was its President and Chief Executive Officer. Based on the criteria established by Accounting Standards Codification 280, Segment Reportin one Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures

Note 3 - Accounts Receivable

Note 3 - Accounts Receivable	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounts and Nontrade Receivable [Text Block]	3. Accounts Receivable The Company estimates an allowance for credit losses with its accounts receivable resulting from the inability of its customers to make required payments, which is included in selling, general and administrative expenses in the accompanying consolidated statements of operations. In determining the adequacy of the allowance, management specifically analyzes individual accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current and reasonable and supportable forecasts of future economic conditions, accounts receivable aging trends, and changes in the Company’s customer payment terms. The components of the Company’s accounts receivable are as follows: As of As of March 31, December 31, 2024 2023 Accounts Receivable $ 33,735 $ 37,580 Less: Allowance for credit losses 1,658 1,619 Net balance, end of period $ 32,077 $ 35,961 A summary of activity in the allowance for credit losses is as follows: As of March 31, 2024 2023 Balance, beginning of the period $ 1,619 $ 1,608 Amounts provided 185 102 Amounts recovered (92 ) (78 ) Amounts written off (45 ) (106 ) Translation adjustments (9 ) 11 Balance, end of period $ 1,658 $ 1,537

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. Fair Value Measurements The Company has certain cash equivalents in money market funds that are classified within Level 1 of the fair value hierarchy and are valued based on quoted prices in active markets. For cash, accounts receivables, accounts payable, and accrued interest, the carrying amounts approximate fair value, because of the short maturity of these instruments, and therefore fair value information is not included in the table below. There were no transfers between fair value levels during the three-month periods ended March 31, 2024 and 2023, respectively. The classification of the Company’s cash equivalents within the fair value hierarchy was as follows: March 31, Active Significant Significant Amortized 2024 (Level 1) (Level 2) (Level 3) Cost Cash equivalents: Money Market Funds $ 52,177 $ 52,177 $ - $ - $ 52,177 December 31, Active Significant Significant Amortized 2023 (Level 1) (Level 2) (Level 3) Cost Cash equivalents: Money Market Funds $ 55,485 $ 55,485 $ - $ - $ 55,485

Note 5 - Inventories

Note 5 - Inventories	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	5. Inventories Inventories consist of the following: March 31, December 31, 2024 2023 Raw materials $ 16,264 $ 15,507 Work-in-process 17,264 17,002 Finished goods 33,048 32,084 Total $ 66,576 $ 64,593 Inventories $ 49,408 $ 46,386 Other long-term assets 17,168 18,207 Total $ 66,576 $ 64,593 Inventories are stated net of inventory reserves of approximately $13.6 million and $11.7 million, as of March 31, 2024 and December 31, 2023, respectively.

Note 6 - Acquired Intangible As

Note 6 - Acquired Intangible Assets, Net	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible Assets Intangible assets as of March 31, 2024 and December 31, 2023 consisted of the following: December 31, Three Months Ended March 31 , 2024 2023 Less: Accumulated Weighted Currency Less: Net Average Gross Translation Accumulated Book Net Book Useful Value Adjustment Amortization Value Value Life Developed technology $ 33,061 $ (1,608 ) $ (29,653 ) $ 1,800 $ 1,973 15 IPR&D 2,656 (1,006 ) - 1,650 1,650 Indefinite Customer relationships 3,887 - (3,542 ) 345 360 10 Distributor relationships 4,700 (415 ) (4,285 ) - - 5 Patents 1,000 (189 ) (740 ) 71 83 16 Tradenames 4,641 - (4,210 ) 431 560 5 Total $ 49,945 $ (3,218 ) $ (42,430 ) $ 4,297 $ 4,626 13 The aggregate amortization expense related to intangible assets was $0.3 million and $1.9 million for the three-month periods ended March 31, 2024 and 2023, respectively. As of March 31, 2024 scheduled amortization of intangible assets for the next five years is as follows: Remainder of 2024 $ 1,008 2025 274 2026 160 2027 160 2028 160 Thereafter 886 Total $ 2,648

Note 7 - Goodwill

Note 7 - Goodwill	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Goodwill Disclosure [Text Block]	7. Goodwill The Company assesses goodwill for impairment annually, or, under certain circumstances, more frequently, such as when events or changes in circumstances indicate there may be impairment. Changes in the carrying value of goodwill for the three-months ended March 31, 2024 were as follows: Three Months Ended 2024 Balance, beginning of period $ 7,571 Effect of foreign currency adjustments (168 ) Balance, ending of period $ 7,403

Note 8 - Accrued Expenses

Note 8 - Accrued Expenses	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: March 31, December 31, 2024 2023 Compensation and related expenses $ 8,595 $ 11,828 Professional fees 3,434 3,240 Operating lease liability – current 2,129 2,133 Discontinuation of software development project 1,904 1,904 Income taxes payable 1,490 1,240 Clinical trial costs 249 460 Share based compensation 160 - Other 477 394 Total $ 18,438 $ 21,199

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies In certain of its contracts, the Company warrants to its customers that the products it manufactures conform to the product specifications as in effect at the time of delivery of the specific product. The Company may also warrant that the products it manufactures do not infringe, violate, or breach any U.S. or international patent or intellectual property right, trade secret, or other proprietary information of any third party. On occasion, the Company contractually indemnifies its customers against any and all losses arising out of, or in any way connected with, any claim or claims of breach of its warranties or any actual or alleged defect in any product caused by the negligent acts or omissions of the Company. The Company maintains a products liability insurance policy that limits its exposure to these risks. Based on the Company’s historical activity, in combination with its liability insurance coverage, the Company believes the estimated fair value of these indemnification agreements is immaterial. The Company had no The Company is also involved from time-to-time in various legal proceedings arising in the normal course of business. Although the outcomes of these legal proceedings are inherently difficult to predict, the Company does not expect the resolution of these occasional legal proceedings to have a material adverse effect on its financial position, results of operations, or cash flow.

Note 10 - Revenue and Geographi

Note 10 - Revenue and Geographic Information	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	10. Revenue and Geographic Information Revenue by product family is as follows: Three Months Ended March 31, 2024 2023 OA Pain Management $ 24,318 $ 22,633 Joint Preservation and Restoration 13,841 13,453 Non-Orthopedic 2,364 1,838 Total $ 40,523 $ 37,924 Revenue from the Company’s sole significant customer, DePuy Synthes Mitek Sports Medicine, part of the Johnson & Johnson Medical Companies, as a percentage of the Company’s total revenue was 42% and 43% for the three months ended March 31, 2024 and 2023, respectively. Total revenue by geographic location based on the location of the customer in total and as a percentage of total revenue were as follows: Three Months Ended March 31, 2024 2023 Percentage of Percentage of Revenue Revenue Revenue Revenue Geographic Location: United States $ 29,236 72 % $ 27,288 72 % Europe 5,969 15 % 5,662 15 % Other 5,318 13 % 4,974 13 % Total $ 40,523 100 % $ 37,924 100 %

Note 11 - Equity Incentive Plan

Note 11 - Equity Incentive Plan	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	11. Equity Incentive Plan Equity Incentive Plan The Anika Therapeutics, Inc. 2017 Omnibus Incentive Plan (the “2017 Plan”) was approved by the Company’s stockholders on June 13, 2017 and subsequently amended on June 18, 2019, June 16, 2020, June 16, 2021, June 8, 2022 and June 14, 2023. On June 14, 2023, the Company’s stockholders approved an amendment to the 2017 Plan increasing the number of shares by 435,000 shares from 4,850,000 shares to 5,285,000 shares. The 2017 Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights (“SARs”), restricted stock awards, performance restricted stock units (“PSUs”), restricted stock units (“RSUs”), total shareholder return options (“TSRs”) and performance options that may be settled in cash, stock, or other property. In accordance with the 2017 Plan approved by the Company’s stockholders, including the amendments thereto, each share award other than stock options or SARs will reduce the number of total shares available for grant by two Anika Therapeutics, Inc. 2021 Inducement Plan (the “Inducement Plan”) was adopted by the Company’s board of directors on November 4, 2021 and subsequently amended on December 22, 2023. On December 22, 2023, the Company’s board of directors approved an amendment to the Inducement Plan increasing the number of shares by 125,000 shares from 125,000 to 250,000 shares. The Inducement Plan reserves 250,000 shares of common stock for issuance pursuant to equity-based awards granted under the Inducement Plan. Such awards may be granted only to an individual who was not previously the Company’s employee or director with the Company. The Inducement Plan provides for the grant of awards under terms substantially similar to the 2017 Plan (as amended). There were 0.1 million shares available for future grant at March 31, 2024 under the Inducement Plan. The Company may satisfy the awards upon exercise, or upon fulfillment of the vesting requirements for other equity-based awards, with either newly issued shares or shares reacquired by the Company. Stock-based awards are granted with an exercise price equal to or greater than the market price of the Company’s stock on the date of grant. Awards contain service conditions or service and performance conditions, and they generally become exercisable ratably over three ten The Company presents the expenses related to stock-based compensation awards in the same expense line items as cash compensation paid to each of its employees as follows (in thousands): Three Months Ended March 31, 2024 2023 Cost of revenue $ 127 $ 184 Research and development 531 517 Selling, general and administrative 2,932 3,016 Total stock-based compensation expense $ 3,590 $ 3,717 Stock Options Stock options are granted to purchase common shares at prices that are equal to the fair market value of the shares on the date the options are granted or, in the case of premium options, are granted with an exercise price at 110% of the market price of the Company’s common stock on the date of grant. Options generally vest in equal annual installments over a period of three The following summarizes the activity under the Company’s stock option plans: Weighted Average Weighted Remaining Aggregate Average Contractual Intrinsic Number of Exercise Term Value Options Price (in years) (in thousands) Outstanding as of December 31, 2023 1,812,729 $ 33.42 $ 127 Granted 426,925 $ 27.93 Exercised (1,089 ) $ 21.77 $ 4 Forfeited and canceled (26,128 ) $ 29.99 $ 22 Outstanding as of March 31, 2024 2,212,437 $ 32.41 7.8 $ 316 Vested, March 31, 2024 1,305,902 $ 35.24 6.8 $ 38 Vested or expected to vest, March 31, 2024 2,212,437 $ 32.41 7.8 $ 316 The aggregate intrinsic value of options exercised for the three-month period ended March 31, 2024 was immaterial. The Company granted 426,925 stock options during the three-month ended March 31, 2024. The Company uses the Black-Scholes pricing model to determine the fair value of options granted. The calculation of the fair value of stock options is affected by the stock price on the grant date, the expected volatility of the Company’s common stock over the expected term of the award, the expected life of the award, the risk-free interest rate and the dividend yield. The assumptions used in the Black-Scholes pricing model for options granted during the three months ended March 31, 2024 and 2023, along with the weighted-average grant-date fair values, were as follows: Three Months Ended March 31, 2024 2023 Risk free interest rate 3.9 % - 4.3 % 3.5 % - 4.3 % Expected volatility 46.8 % - 48.2 % 48.7 % - 49.4 % Expected life (years) 4.5 4.5 Expected dividend yield 0.0 % 0.0 % Fair value per option $ 10.48 $ 11.71 As of March 31, 2024, there was $9.0 million of unrecognized compensation cost related to unvested stock options. This expense is expected to be recognized over a weighted average period of 2.2 years. Restricted Stock Units RSUs generally vest in equal annual installments over a three RSU activity for the three-month period ended March 31, 2024 was as follows: Weighted Number of Average Shares Fair Value Outstanding as of December 31, 2023 771,358 $ 27.19 Granted 405,917 $ 25.44 Vested (249,716 ) $ 27.82 Forfeited and cancelled (28,611 ) $ 27.00 Outstanding as of March 31, 2024 898,948 $ 26.89 The weighted-average grant-date fair value per share of RSUs granted was $25.44 and $26.91 for the three-month periods ended March 31, 2024 and 2023, respectively. The total fair value of RSUs vested was $7.7 million and $5.7 million for the three-month periods ended March 31, 2024 and 2023, respectively. As of March 31, 2024, there was $8.9 million of unrecognized compensation cost related to time-based RSUs, which was expected to be recognized over a weighted-average period of 1.6 years. The Company’s annual grant of RSU awards in March 2024 can be settled at vesting in cash or shares at the Company’s election. The Company has recorded these RSUs as a liability due to the expectation that the Company will settle the vesting of the March 2024 RSU awards in cash due to a potential shortage of shares in the 2017 Plan at the time of vesting. As a result, these RSUs will be subject to change in value at the time of each reporting period. As of March 31, 2024, the Company had 405,917 shares outstanding in which a liability of $0.2 million was recorded in Accrued Expenses and Other Liabilities.

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Taxes The income tax expense was immaterial for the three-month period ended March 31, 2024, resulting in an effective tax rate of (1.0%). The income tax benefit was $1.7 million for the three-month period ended March 31, 2023, resulting in an effective tax rate of 13.9%. The net change in the effective tax rate for the three-month period ended March 31, 2024, as compared to the same period in 2023, was primarily due to a full valuation allowance being recorded against domestic deferred tax assets at March 31, 2024. The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, carryback potential if permitted under the tax law, and results of recent operations. The Company has incurred operating losses in recent years. As a result, the Company anticipates that deferred tax assets originating during the year ended December 31, 2024 will exceed the availability of reversing taxable temporary differences. Due to significant negative evidence, including the Company’s prior year operating losses, the Company concluded its anticipated net deferred tax assets in the U.S. are not more likely than not to be realizable. Accordingly, the estimated annual effective tax rate used to compute the income tax provision for the three-month period ended March 31, 2024 includes an adjustment for the valuation allowance required against the U.S deferred tax assets. As of March 31, 2024, the Company continues to believe its foreign deferred tax assets are realizable based upon future reversals of existing taxable temporary differences and projected future taxable income. The Company files income tax returns in the United States on a federal basis, in certain U.S. states, and in certain foreign jurisdictions. The associated tax filings remain subject to examination by applicable tax authorities for a certain length of time following the tax year to which those filings relate, which varies by jurisdiction.

Note 13 - Earnings Per Share ("

Note 13 - Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	13. Earnings Per Share ( EPS ) Basic EPS is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic EPS. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding share-based awards using the treasury stock method. Due to the Company’s loss position, the share-based payment awards are anti-dilutive. The Company had a net loss during the three-month periods ended March 31, 2024 and 2023, respectively, and therefore all potential common shares would have been anti-dilutive and accordingly were excluded from the computation of diluted EPS. Stock options of 2.2 million shares and 1.9 million shares were outstanding for the three-month periods ended March 31, 2024 and 2023, respectively. Restricted stock units totaling 0.9 million were outstanding for each of the three-month periods ended March 31, 2024 and 2023. These securities were not included in the computation of diluted EPS because the awards’ impact on EPS would have been anti-dilutive.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5. OTHER INFORMATION. Rule 10b5-1 Trading Plans During the fiscal quarter ended March 31, 2024, none
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 3 - Accounts Receivable (T

Note 3 - Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	As of As of March 31, December 31, 2024 2023 Accounts Receivable $ 33,735 $ 37,580 Less: Allowance for credit losses 1,658 1,619 Net balance, end of period $ 32,077 $ 35,961 As of March 31, 2024 2023 Balance, beginning of the period $ 1,619 $ 1,608 Amounts provided 185 102 Amounts recovered (92 ) (78 ) Amounts written off (45 ) (106 ) Translation adjustments (9 ) 11 Balance, end of period $ 1,658 $ 1,537

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	March 31, Active Significant Significant Amortized 2024 (Level 1) (Level 2) (Level 3) Cost Cash equivalents: Money Market Funds $ 52,177 $ 52,177 $ - $ - $ 52,177 December 31, Active Significant Significant Amortized 2023 (Level 1) (Level 2) (Level 3) Cost Cash equivalents: Money Market Funds $ 55,485 $ 55,485 $ - $ - $ 55,485

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2024 2023 Raw materials $ 16,264 $ 15,507 Work-in-process 17,264 17,002 Finished goods 33,048 32,084 Total $ 66,576 $ 64,593 Inventories $ 49,408 $ 46,386 Other long-term assets 17,168 18,207 Total $ 66,576 $ 64,593

Note 6 - Acquired Intangible _2

Note 6 - Acquired Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	December 31, Three Months Ended March 31 , 2024 2023 Less: Accumulated Weighted Currency Less: Net Average Gross Translation Accumulated Book Net Book Useful Value Adjustment Amortization Value Value Life Developed technology $ 33,061 $ (1,608 ) $ (29,653 ) $ 1,800 $ 1,973 15 IPR&D 2,656 (1,006 ) - 1,650 1,650 Indefinite Customer relationships 3,887 - (3,542 ) 345 360 10 Distributor relationships 4,700 (415 ) (4,285 ) - - 5 Patents 1,000 (189 ) (740 ) 71 83 16 Tradenames 4,641 - (4,210 ) 431 560 5 Total $ 49,945 $ (3,218 ) $ (42,430 ) $ 4,297 $ 4,626 13
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of 2024 $ 1,008 2025 274 2026 160 2027 160 2028 160 Thereafter 886 Total $ 2,648

Note 7 - Goodwill (Tables)

Note 7 - Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	Three Months Ended 2024 Balance, beginning of period $ 7,571 Effect of foreign currency adjustments (168 ) Balance, ending of period $ 7,403

Note 8 - Accrued Expenses (Tabl

Note 8 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2024 2023 Compensation and related expenses $ 8,595 $ 11,828 Professional fees 3,434 3,240 Operating lease liability – current 2,129 2,133 Discontinuation of software development project 1,904 1,904 Income taxes payable 1,490 1,240 Clinical trial costs 249 460 Share based compensation 160 - Other 477 394 Total $ 18,438 $ 21,199

Note 10 - Revenue and Geograp_2

Note 10 - Revenue and Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended March 31, 2024 2023 OA Pain Management $ 24,318 $ 22,633 Joint Preservation and Restoration 13,841 13,453 Non-Orthopedic 2,364 1,838 Total $ 40,523 $ 37,924
Schedule of Revenue and Operating Income by Geographical Areas [Table Text Block]	Three Months Ended March 31, 2024 2023 Percentage of Percentage of Revenue Revenue Revenue Revenue Geographic Location: United States $ 29,236 72 % $ 27,288 72 % Europe 5,969 15 % 5,662 15 % Other 5,318 13 % 4,974 13 % Total $ 40,523 100 % $ 37,924 100 %

Note 11 - Equity Incentive Pl_2

Note 11 - Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2024 2023 Cost of revenue $ 127 $ 184 Research and development 531 517 Selling, general and administrative 2,932 3,016 Total stock-based compensation expense $ 3,590 $ 3,717
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Average Weighted Remaining Aggregate Average Contractual Intrinsic Number of Exercise Term Value Options Price (in years) (in thousands) Outstanding as of December 31, 2023 1,812,729 $ 33.42 $ 127 Granted 426,925 $ 27.93 Exercised (1,089 ) $ 21.77 $ 4 Forfeited and canceled (26,128 ) $ 29.99 $ 22 Outstanding as of March 31, 2024 2,212,437 $ 32.41 7.8 $ 316 Vested, March 31, 2024 1,305,902 $ 35.24 6.8 $ 38 Vested or expected to vest, March 31, 2024 2,212,437 $ 32.41 7.8 $ 316
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2024 2023 Risk free interest rate 3.9 % - 4.3 % 3.5 % - 4.3 % Expected volatility 46.8 % - 48.2 % 48.7 % - 49.4 % Expected life (years) 4.5 4.5 Expected dividend yield 0.0 % 0.0 % Fair value per option $ 10.48 $ 11.71
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted Number of Average Shares Fair Value Outstanding as of December 31, 2023 771,358 $ 27.19 Granted 405,917 $ 25.44 Vested (249,716 ) $ 27.82 Forfeited and cancelled (28,611 ) $ 27.00 Outstanding as of March 31, 2024 898,948 $ 26.89

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual)	3 Months Ended
	Mar. 31, 2024
Number of Operating Segments	1

Note 3 - Accounts Receivable -

Note 3 - Accounts Receivable - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 01, 2022
Accounts Receivable	$ 33,735		$ 37,580
Balance, beginning of the period	1,619	$ 1,608
Allowance for credit losses	1,658		1,619
Amounts provided	185	102
Net balance, end of period	32,077		$ 35,961
Amounts recovered	(92)	(78)
Amounts written off	(45)	(106)
Translation adjustments	(9)	11
Balance, end of period	$ 1,658	$ 1,537

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements - Fair Value of Financial Instruments (Details) - Money Market Funds [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Estimate of Fair Value Measurement [Member]
Cash equivalents	$ 52,177	$ 55,485
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	52,177	55,485
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Reported Value Measurement [Member]
Cash equivalents	$ 52,177	$ 55,485

Note 5 - Inventories (Details T

Note 5 - Inventories (Details Textual) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Valuation Reserves	$ 13.6	$ 11.7

Note 5 - Inventories - Summary

Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Raw materials	$ 16,264	$ 15,507
Work-in-process	17,264	17,002
Finished goods	33,048	32,084
Total	66,576	64,593
Inventories	49,408	46,386
Other long-term assets	$ 17,168	$ 18,207

Note 6 - Acquired Intangible _3

Note 6 - Acquired Intangible Assets, Net (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Amortization of Intangible Assets	$ 0.3	$ 1.9

Note 6 - Acquired Intangible _4

Note 6 - Acquired Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Gross value	$ 49,945
Accumulated Currency Translation Adjustment	(3,218)
Accumulated Amortization	(42,430)
Net book value	$ 4,297	$ 4,626
Weighted average useful life (Year)	13 years
Gross value (Year)	13 years
Developed Technology Rights [Member]
Gross value	$ 33,061
Accumulated Currency Translation Adjustment	(1,608)
Accumulated Amortization	(29,653)
Net book value	$ 1,800	1,973
Weighted average useful life (Year)	15 years
Gross value (Year)	15 years
In Process Research and Development [Member]
Gross value	$ 2,656
Accumulated Currency Translation Adjustment	(1,006)
Net book value	1,650	1,650
Customer Relationships [Member]
Gross value	3,887
Accumulated Currency Translation Adjustment	0
Accumulated Amortization	(3,542)
Net book value	$ 345	360
Weighted average useful life (Year)	10 years
Gross value (Year)	10 years
Distribution Rights [Member]
Gross value	$ 4,700
Accumulated Currency Translation Adjustment	(415)
Accumulated Amortization	(4,285)
Net book value	$ 0	0
Weighted average useful life (Year)	5 years
Gross value (Year)	5 years
Patents [Member]
Gross value	$ 1,000
Accumulated Currency Translation Adjustment	(189)
Accumulated Amortization	(740)
Net book value	$ 71	83
Weighted average useful life (Year)	16 years
Gross value (Year)	16 years
Trade Names [Member]
Gross value	$ 4,641
Accumulated Currency Translation Adjustment	0
Accumulated Amortization	(4,210)
Net book value	$ 431	$ 560
Weighted average useful life (Year)	5 years
Gross value (Year)	5 years

Note 6 - Intangible Assets - Sc

Note 6 - Intangible Assets - Schedule of Amortization Expense (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Remainder of 2024	$ 1,008
Finite-Lived Intangible Asset, Expected Amortization, Year One	274
Finite-Lived Intangible Asset, Expected Amortization, Year Two	160
Finite-Lived Intangible Asset, Expected Amortization, Year Three	160
Finite-Lived Intangible Asset, Expected Amortization, Year Four	160
Thereafter	886
Total	$ 2,648

Note 7 - Goodwill - Changes in

Note 7 - Goodwill - Changes in the Carrying Value of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Balance	$ 7,571
Effect of foreign currency adjustments	(168)
Balance	$ 7,403

Note 8 - Accrued Expenses - Sum

Note 8 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Compensation and related expenses	$ 8,595	$ 11,828
Professional fees	$ 3,434	$ 3,240
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total	Total
Operating lease liability – current	$ 2,129	$ 2,133
Discontinuation of software development project	1,904	1,904
Income taxes payable	1,490	1,240
Clinical trial costs	249	460
Share based compensation	160	0
Other	477	394
Total	$ 18,438	$ 21,199

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Standard and Extended Product Warranty Accrual, Ending Balance	$ 0	$ 0

Note 10 - Revenue and Geograp_3

Note 10 - Revenue and Geographic Information (Details Textual)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | DePuy Synthes Mitek Sports Medicine [Member]
Revenues From Agreements as Percent of Total Revenue	42%	43%

Note 10 - Revenue and Geograp_4

Note 10 - Revenue and Geographic Information - Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 40,523	$ 37,924
OA Pain Management [member]
Revenue	24,318	22,633
Joint Preservation and Restoration [Member]
Revenue	13,841	13,453
Non-Orthopedic [Member]
Revenue	$ 2,364	$ 1,838

Note 10 - Revenue and Geograp_5

Note 10 - Revenue and Geographic Information - Total Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue	$ 40,523	$ 37,924
Percentage of Revenue	100%	100%
UNITED STATES
Revenue	$ 29,236	$ 27,288
Percentage of Revenue	72%	72%
Europe [Member]
Revenue	$ 5,969	$ 5,662
Percentage of Revenue	15%	15%
Other Location [Member]
Revenue	$ 5,318	$ 4,974
Percentage of Revenue	13%	13%

Note 11 - Equity Incentive Pl_3

Note 11 - Equity Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Dec. 22, 2023	Jun. 14, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 13, 2023	Nov. 04, 2021	Jun. 13, 2017
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			426,925
Premium-Priced Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Premium Priced Options, Exercise Price as Percentage of Market Price			110%
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)			10 years
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total			$ 9
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 2 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total			$ 8.9
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 7 months 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 25.44	$ 26.91
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 7.7	$ 5.7
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Unsettled, Number			405,917
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding			$ 0.2
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
The 2017 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)		435,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)		5,285,000			4,850,000
Number of Shares Available for Grant Reduced By Each Share Award Issued Other Than Options or SARs (in shares)							2
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			700,000				4.6
The 2021 Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			0.1
Common Stock, Capital Shares Reserved for Future Issuance, Number of Shares Increased	125,000
Common Stock, Capital Shares Reserved for Future Issuance	250,000					125,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)			10 years

Note 11 - Equity Incentive Pl_4

Note 11 - Equity Incentive Plan - Total Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based compensation expense	$ 3,590	$ 3,717
Cost of Sales [Member]
Stock-based compensation expense	127	184
Research and Development Expense [Member]
Stock-based compensation expense	531	517
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	$ 2,932	$ 3,016

Note 11 - Equity Incentive Pl_5

Note 11 - Equity Incentive Plan - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Outstanding, shares (in shares)	1,812,729
Outstanding, Weighted Average Exercise (in dollars per share)	$ 33.42
Outstanding, shares	$ 316	$ 127
Granted, shares (in shares)	426,925
Granted, Weighted Average Exercise Price (in dollars per share)	$ 27.93
Exercised, shares (in shares)	(1,089)
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 21.77
Exercised, Aggregate Intrinsic Value	$ 4
Forfeited and canceled, shares (in shares)	(26,128)
Forfeited and canceled, weighted average exercise price (in dollars per share)	$ 29.99
Forfeited and canceled, aggregate intrinsic value	$ 22
Outstanding, shares (in shares)	2,212,437
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 32.41
Outstanding, Weighted Average Remaining Contractual Term (Year)	7 years 9 months 18 days
Vested, shares (in shares)	1,305,902
Vested, Weighted Average Exercise Price (in dollars per share)	$ 35.24
Vested, Weighted Average Remaining Contractual Term (Year)	6 years 9 months 18 days
Vested, Aggregate Intrinsic Value	$ 38
Vested and expected to vest, shares (in shares)	2,212,437
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 32.41
Vested and expected to vest, Weighted Average Remaining Contractual Term (Year)	7 years 9 months 18 days
Vested and expected to vest, Aggregate Intrinsic Value	$ 316

Note 11 - Equity Incentive Pl_6

Note 11 - Equity Incentive Plan - Assumptions Used to Estimate Fair Value of Stock Options and Stock Appreciation Rights (Details) - $ / shares	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2022
Expected life (years) (Year)	4 years 6 months		4 years 6 months
Expected dividend yield	0%	0%
Fair value per option (in dollars per share)	$ 0.1048	$ 0.1171
Minimum [Member]
Risk free interest rate	3.90%	3.50%
Expected volatility	46.80%	48.70%
Maximum [Member]
Risk free interest rate	4.30%	4.30%
Expected volatility	48.20%	49.40%

Note 11 - Equity Incentive Pl_7

Note 11 - Equity Incentive Plan - Restricted Stock Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Outstanding, shares (in shares)	771,358
Outstanding, weighted average grant date fair value (in dollars per share)	$ 27.19
Granted (in shares)	405,917
Granted, weighted average grant date fair value (in dollars per share)	$ 25.44	$ 26.91
Vested, shares (in shares)	(249,716)
Vested, weighted average grant date fair value (in dollars per share)	$ 27.82
Forfeited and cancelled, shares (in shares)	(28,611)
Forfeited and cancelled, weighted average grant date fair value (in dollars per share)	$ 27
Outstanding, shares (in shares)	898,948
Outstanding, weighted average grant date fair value (in dollars per share)	$ 26.89

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	1%	13.90%
Income Tax Expense (Benefit)	$ 43	$ (1,664)

Note 13 - Earnings Per Share _2

Note 13 - Earnings Per Share ("EPS") (Details Textual) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	2.2	1.9
Restricted Stock Units and Performance Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.9	0.9