NN (NNBR) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	000-23486
Entity Registrant Name	NN, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	62-1096725
Entity Address, Address Line One	6210 Ardrey Kell Road, Suite 600
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	980
Local Phone Number	264-4300
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	NNBR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,352,810
Entity Central Index Key	0000918541
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 124,443	$ 127,297	$ 376,737	$ 380,726
Cost of sales (exclusive of depreciation and amortization shown separately below)	104,543	108,033	320,648	316,500
Selling, general, and administrative expense	11,693	10,205	35,833	38,453
Depreciation and amortization	11,577	11,193	34,643	33,962
Other operating expense (income), net	(631)	(17)	(526)	1,862
Loss from operations	(2,739)	(2,117)	(13,861)	(10,051)
Interest expense	5,739	3,746	15,484	10,673
Other expense (income), net	(1,463)	(1,156)	1,970	(4,219)
Loss before benefit (provision) for income taxes and share of net income from joint venture	(7,015)	(4,707)	(31,315)	(16,505)
Benefit (provision) for income taxes	245	1,068	(1,381)	(1,514)
Share of net income from joint venture	1,713	1,424	3,087	3,935
Net loss	(5,057)	(2,215)	(29,609)	(14,084)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(3,072)	(7,653)	(3,606)	(13,543)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	0	904	(230)	2,464
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(449)	(116)	(1,366)	(51)
Other comprehensive loss	(3,521)	(6,865)	(5,202)	(11,130)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ (8,578)	$ (9,080)	$ (34,811)	$ (25,214)
Earnings Per Share, Basic [Abstract]
Net loss per common share (in dollars per shares)	$ (0.18)	$ (0.11)	$ (0.84)	$ (0.49)
Weighted average common shares outstanding, basic (in shares)	47,539	44,711	46,410	44,670
Earnings Per Share, Diluted [Abstract]
Net loss per common share (in dollars per share)	$ (0.18)	$ (0.11)	$ (0.84)	$ (0.49)
Weighted average common shares outstanding, diluted (in shares)	47,539	44,711	46,410	44,670

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets, Current [Abstract]
Cash and cash equivalents	$ 21,790	$ 12,808
Accounts receivable, net of allowances of $1,210 and $1,469 at September 30, 2023 and December 31, 2022	73,229	74,129
Inventories	70,917	80,682
Income tax receivable	12,182	12,164
Prepaid Expense and Other Assets	3,800	2,794
Other current assets	11,339	9,123
Total current assets	193,257	191,700
Property, plant and equipment, net of accumulated depreciation of $243,638 and $225,046 at September 30, 2023 and December 31, 2022	185,707	197,637
Operating lease right-of-use assets	43,549	46,713
Intangible assets, net	62,202	72,891
Investment in joint venture	29,131	31,802
Deferred tax assets	164	102
Other non-current assets	6,688	5,282
Total assets	520,698	546,127
Liabilities, Current [Abstract]
Accounts payable	49,347	45,871
Accrued salaries, wages and benefits	13,243	11,671
Income tax payable	340	926
Short-term debt and current maturities of long-term debt	6,699	3,321
Current portion of operating lease liabilities	5,407	5,294
Other current liabilities	13,483	11,723
Total current liabilities	88,519	78,806
Deferred tax liabilities	4,137	5,596
Long-term debt, net of current portion	145,892	149,389
Operating lease liabilities, net of current portion	47,841	51,411
Other non-current liabilities	16,288	9,960
Total liabilities	302,677	295,162
Commitments and contingencies (Note 9)
Common stock - $0.01 par value per share, 90,000 shares authorized, 47,311 and 43,856 shares issued and outstanding at September 30, 2023 and December 31, 2022	473	439
Additional paid-in capital	460,382	468,143
Accumulated deficit	(274,807)	(245,198)
Accumulated other comprehensive loss	(42,322)	(37,120)
Total stockholders’ equity	143,726	186,264
Total liabilities, preferred stock, and stockholders’ equity	520,698	546,127
Series D Preferred Stock
Liabilities, Current [Abstract]
Series D perpetual preferred stock - $0.01 par value per share, 65 shares authorized, issued and outstanding at September 30, 2023 and December 31, 2022	$ 74,295	$ 64,701

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,210	$ 1,469
Property, Plant, and Equipment, Accumulated Depreciation	$ 243,638	$ 225,046
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)	47,311	43,856
Common stock, shares outstanding (in shares)	47,311	43,856
Series D Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	65	65
Preferred stock, shares issued (in shares)	65	65
Preferred stock, shares outstanding (in shares)	65	65

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Beginning balance (in shares) at Dec. 31, 2021		43,027
Beginning balance at Dec. 31, 2021	$ 224,185	$ 430	$ 474,757	$ (219,100)	$ (31,902)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss	(14,084)
Dividends accrued for preferred stock	(7,979)		(7,979)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	0
Share-based compensation expense (in shares)		886
Share-based compensation expense	3,862	$ 9	3,862
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation		(31)
Restricted shares forgiven for taxes and forfeited	(88)	$ 0	88
Other comprehensive income (loss), net of tax	(11,130)
Other comprehensive loss	(11,130)
Ending balance (in shares) at Sep. 30, 2022		43,882
Ending balance at Sep. 30, 2022	194,766	$ 439	470,543	(233,184)	(43,032)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net Income (Loss) Attributable to Noncontrolling Interest	(14,084)
Adjustments to Additional Paid in Capital, Adjustments to Performance Shares Vesting Estimates			(9)
Beginning balance (in shares) at Jun. 30, 2022		43,884
Beginning balance at Jun. 30, 2022	206,322	$ 439	473,019	(230,969)	(36,167)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss	(2,215)
Dividends, Preferred Stock			2,783
Dividends accrued for preferred stock	(2,783)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	$ 0	$ 0	0
Share-based compensation expense (in shares)	(2)
Share-based compensation expense	$ 307		307
Other comprehensive income (loss), net of tax	(6,865)
Other comprehensive loss	(6,865)
Ending balance (in shares) at Sep. 30, 2022		43,882
Ending balance at Sep. 30, 2022	194,766	$ 439	470,543	(233,184)	(43,032)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net Income (Loss) Attributable to Noncontrolling Interest	(2,215)
Beginning balance (in shares) at Dec. 31, 2022		43,856
Beginning balance at Dec. 31, 2022	186,264	$ 439	468,143	(245,198)	(37,120)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss	(29,609)
Dividends accrued for preferred stock	(9,594)		(9,594)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	(21)
Share-based compensation expense (in shares)		3,598
Share-based compensation expense	2,058	$ 36	2,058
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation		(143)
Restricted shares forgiven for taxes and forfeited	(170)	$ (2)	168
Other comprehensive income (loss), net of tax	(5,202)
Other comprehensive loss	(5,202)
Ending balance (in shares) at Sep. 30, 2023		47,311
Ending balance at Sep. 30, 2023	143,726	$ 473	460,382	(274,807)	(42,322)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net Income (Loss) Attributable to Noncontrolling Interest	(29,609)
Adjustments to Additional Paid in Capital, Adjustments to Performance Shares Vesting Estimates			(57)
Beginning balance (in shares) at Jun. 30, 2023		47,019
Beginning balance at Jun. 30, 2023	154,444	$ 470	462,525	(269,750)	(38,801)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss	(5,057)
Dividends, Preferred Stock			3,347
Dividends accrued for preferred stock	(3,347)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	$ 0	$ 3	(3)
Share-based compensation expense (in shares)	292
Share-based compensation expense	$ 1,207		1,207
Other comprehensive income (loss), net of tax	(3,521)
Other comprehensive loss	(3,521)
Ending balance (in shares) at Sep. 30, 2023		47,311
Ending balance at Sep. 30, 2023	143,726	$ 473	$ 460,382	$ (274,807)	$ (42,322)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net Income (Loss) Attributable to Noncontrolling Interest	$ (5,057)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Income (Loss) Attributable to Noncontrolling Interest	$ (29,609)	$ (14,084)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	34,643	33,962
Amortization of debt issuance costs and discount	1,409	1,021
Paid-in-Kind Interest	1,491	0
Total derivative loss (gain), net of cash settlements	3,139	(4,858)
Share of net income from joint venture, net of cash dividends received	851	2,310
Share-based compensation expense	2,058	3,862
Deferred income taxes	(1,531)	(1,831)
Other	(776)	(3,096)
Changes in operating assets and liabilities:
Accounts receivable	335	(15,667)
Inventories	9,692	(11,314)
Accounts payable	5,240	9,827
Income taxes receivable and payable, net	(576)	(403)
Other	(2,476)	(2,400)
Net cash provided by (used in) operating activities	23,890	(2,671)
Cash flows from investing activities
Acquisition of property, plant and equipment	(16,292)	(14,011)
Proceeds from sale of property, plant, and equipment	2,876	460
Net cash used in investing activities	(13,416)	(13,551)
Cash flows from financing activities
Proceeds from long-term debt	52,000	32,000
Repayments of long-term debt	(55,522)	(28,158)
Cash paid for debt issuance costs	(55)	(136)
Proceeds from short-term debt	3,648	0
Other	(1,276)	(2,265)
Net cash provided by (used in) financing activities	(1,205)	1,441
Effect of exchange rate changes on cash flows	(287)	(1,324)
Net change in cash and cash equivalents	8,982	(16,105)
Cash and cash equivalents at beginning of period	12,808	28,656
Cash cash equivalents at end of period	$ 21,790	$ 12,551

Interim Financial Statements

Interim Financial Statements	9 Months Ended
	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Interim Financial Statements Nature of Business NN, Inc. is a global diversified industrial company that combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies primarily for the automotive, general industrial, electrical, aerospace, defense, and medical markets. As used in this Quarterly Report on Form 10-Q (this “Quarterly Report”), the terms “NN,” the “Company,” “we,” “our,” or “us” refer to NN, Inc., and its subsidiaries. As of September 30, 2023, we had 27 facilities in North America, Europe, South America, and Asia. Basis of Presentation The accompanying condensed consolidated financial statements have not been audited. The Condensed Consolidated Balance Sheet as of December 31, 2022, was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”), which we filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 10, 2023. In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to fairly state our results of operations for the three and nine months ended September 30, 2023 and 2022; financial position as of September 30, 2023 and December 31, 2022; and cash flows for the nine months ended September 30, 2023 and 2022, on a basis consistent with our audited consolidated financial statements. These adjustments are of a normal recurring nature and are, in the opinion of management, necessary to state fairly the Company’s financial position and operating results for the interim periods. Certain prior period amounts have been reclassified to conform to the current year’s presentation. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted from the unaudited condensed consolidated financial statements presented in this Quarterly Report. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes included in the 2022 Annual Report. The results for the three and nine months ended September 30, 2023, are not necessarily indicative of results for the year ending December 31, 2023, or any other future periods. Except for per share data or as otherwise indicated, all U.S. dollar amounts and share counts presented in the tables in these Notes to Condensed Consolidated Financial Statements are in thousands. Accounts Receivable Sales Programs We participate in programs established by our customers which allows us to sell certain receivables from that customer on a non-recourse basis to a third-party financial institution. During the nine months ended September 30, 2023, we incurred fees of $0.8 million, related to the sale of receivables which is recorded in the Other expense (income), net line item on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Facility Closures Due to ongoing efforts to optimize the Company’s manufacturing footprint, we ceased manufacturing operations at several facilities during the nine months ended September 30, 2023, including at our Irvine and Taunton locations. We sold machinery and equipment from these locations and recognized a loss on sales of $0.2 million during the nine months ended September 30, 2023. The loss, which is primarily reported within our Power Solutions segment, is included in the Other operating expense (income), net line item on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). In June 2023, we began subleasing our Irvine and Taunton facilities under subleases that terminate in 2034 and 2035, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Our business is aggregated into the following two reportable segments: • Mobile Solutions, which is focused on growth in the automotive, general industrial, and medical end markets; and • Power Solutions, which is focused on growth in the electrical, general industrial, automotive, and medical end markets. These divisions are considered our two operating segments as each engages in business activities for which it earns revenues and incurs expenses, discrete financial information is available for each, and this is the level at which the chief operating decision maker reviews discrete financial information for purposes of allocating resources and assessing performance. The following table presents our financial performance by reportable segment. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Net sales: Mobile Solutions $ 78,961 $ 76,122 $ 234,132 $ 225,542 Power Solutions 45,484 51,124 142,618 155,184 Intersegment sales eliminations (2) 51 (13) — Total $ 124,443 $ 127,297 $ 376,737 $ 380,726 Income (loss) from operations: Mobile Solutions $ (1,283) $ (474) $ (6,063) $ 3,224 Power Solutions 3,936 2,582 8,266 4,376 Corporate (5,392) (4,225) (16,064) (17,651) Total $ (2,739) $ (2,117) $ (13,861) $ (10,051)

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are comprised of the following amounts: September 30, 2023 December 31, 2022 Raw materials $ 26,780 $ 32,146 Work in process 23,317 24,610 Finished goods 20,820 23,926 Total inventories $ 70,917 $ 80,682

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Intangible Assets The following table shows changes in the carrying amount of intangible assets, net, by reportable segment. Mobile Power Total Balance as of December 31, 2022 $ 22,356 $ 50,535 $ 72,891 Amortization (2,515) (8,174) (10,689) Balance as of September 30, 2023 $ 19,841 $ 42,361 $ 62,202

Investment in Joint Venture

Investment in Joint Venture	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Venture	Investment in Joint Venture We own a 49% investment in Wuxi Weifu Autocam Precision Machinery Company, Ltd. (the “JV”), a joint venture located in Wuxi, China. The JV is jointly controlled and managed, and we account for it under the equity method. The following table shows changes in our investment in the JV. Balance as of December 31, 2022 $ 31,802 Share of earnings 3,087 Dividends paid by joint venture (3,938) Foreign currency translation loss (1,820) Balance as of September 30, 2023 $ 29,131

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur effective tax rate was 3.5% and (4.4)% for the three and nine months ended September 30, 2023, respectively, and 22.7% and (9.2)% for the three and nine months ended September 30, 2022, respectively. The effective tax rates for the three and nine months ended September 30, 2023 and September 30, 2022 differ from the U.S. federal statutory tax rate of 21% primarily due to the accrual of tax on non-permanently reinvested unremitted earnings of foreign subsidiaries and by limitation on the amount of tax benefit recorded for loss carryforwards in certain jurisdictions where we believe it is more likely than not that a portion of the future tax benefit may not be realized. In addition, the effective tax rate for the three and nine months ended September 30, 2023 was favorably impacted by a net valuation allowance release based on management’s reassessment of the amount of its deferred tax assets that are more likely than not to be realized.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt On March 22, 2021, we entered into a new $150.0 million term loan facility (as amended from time to time, the “Term Loan Facility”) and a new $50.0 million asset backed credit facility (as amended from time to time, the “ABL Facility”). On March 3, 2023, we amended the Term Loan Facility (the “Term Loan Amendment”) and ABL Facility to adjust certain covenants under the agreements, as well as to replace references to LIBOR with secured overnight finance rate (“SOFR”) for interest rate calculations. The following table presents the outstanding debt balances. September 30, 2023 December 31, 2022 Term Loan Facility $ 147,741 $ 147,375 ABL Facility — 1,000 International loans 10,704 8,729 Total principal 158,445 157,104 Less: short-term debt and current maturities of long-term debt 6,699 3,321 Principal of long-term debt, net of current portion 151,746 153,783 Less: unamortized debt issuance costs and discount (1) 5,854 4,394 Long-term debt, net of current portion $ 145,892 $ 149,389 _______________________________ (1) In addition to this amount, costs of $0.5 million and $0.6 million related to the ABL Facility were recorded in other non-current assets as of September 30, 2023 and December 31, 2022, respectively. Term Loan Facility Effective March 31, 2023, outstanding borrowings under the Term Loan Facility bear interest at either 1) one-month, three-month, or six-month SOFR with a duration adjustment (“Adjusted SOFR”), subject to a 1.000% floor, plus an applicable margin of 6.875%, or 2) the greater of various benchmark rates plus an applicable margin of 5.875%. Beginning in the second quarter of 2023, interest was increased on a paid-in-kind basis at a rate between 1.00% and 2.00% (“PIK interest”), dependent on the Company’s leverage ratio. The PIK interest is payable on the loan maturity date of September 22, 2026. At September 30, 2023, the Term Loan Facility bore interest, including PIK interest, based on one-month Adjusted SOFR, at 14.291%. The Term Loan Facility requires quarterly principal payments of $0.4 million with the remaining unpaid principal amount due at the loan maturity date. We may be required to make additional principal payments annually that are calculated as a percentage of our excess cash flow, as defined by the lender, based on our net leverage ratio. The Term Loan Facility is collateralized by all of our assets. The Term Loan Facility has a first lien on all domestic assets other than accounts receivable and inventory and has a second lien on domestic accounts receivable and inventory. We were in compliance with all requirements under the Term Loan Facility as of September 30, 2023. The Term Loan Facility was issued at a $3.8 million discount and we have capitalized an additional $5.3 million in debt issuance costs. These costs are recorded as a direct reduction to the carrying amount of the associated long-term debt and amortized over the term of the debt. We had an interest rate swap that changed the one-month LIBOR to a fixed rate of 1.291% on $60.0 million of the outstanding balance of the Term Loan Facility. During the first quarter of 2023, we terminated the interest rate swap and received cash proceeds of $2.5 million which was equal to its fair value. ABL Facility The ABL Facility provides for a senior secured revolving credit facility in the amount of $50.0 million, of which $30.0 million is available in the form of letters of credit and $5.0 million is available for the issuance of short-term swingline loans. The availability of credit under the ABL Facility is limited by a borrowing base calculation derived from accounts receivable and inventory held in the United States. Outstanding borrowings under the ABL Facility bear interest on a variable rate structure plus an interest rate spread that is based on the average amount of aggregate revolving commitment available. Effective March 3, 2023, the variable borrowing rate is either 1) Adjusted SOFR plus an applicable margin of 1.75% or 2.00%, depending on availability, or 2) the greater of the federal funds rate or prime, plus an applicable margin of 0.75% or 1.00%, depending on availability. We may elect whether to use one-month, three-month, or six-month Adjusted SOFR. At September 30, 2023, using one-month Adjusted SOFR plus a 2.00% margin, the interest rate on outstanding borrowings under the ABL Facility was 7.429%. We pay a commitment fee of 0.375% for unused capacity under the ABL Facility and a 2.125% fee on the amount of letters of credit outstanding. The final maturity date of the ABL Facility is March 22, 2026.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases The following table contains supplemental cash flow information related to leases. Nine Months Ended 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in finance leases $ 258 $ 262 Operating cash flows used in operating leases 10,533 10,865 Financing cash flows used in finance leases 1,084 2,177 Right-of-use assets obtained in exchange for new finance lease liabilities 1,619 908 Right-of-use assets obtained in exchange for new operating lease liabilities (1) 477 3,835 _______________________________ (1) Includes new leases, renewals, and modifications.
Leases	Leases The following table contains supplemental cash flow information related to leases. Nine Months Ended 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in finance leases $ 258 $ 262 Operating cash flows used in operating leases 10,533 10,865 Financing cash flows used in finance leases 1,084 2,177 Right-of-use assets obtained in exchange for new finance lease liabilities 1,619 908 Right-of-use assets obtained in exchange for new operating lease liabilities (1) 477 3,835 _______________________________ (1) Includes new leases, renewals, and modifications.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Brazil ICMS Tax Matter Prior to the acquisition of Autocam Corporation (“Autocam”) in 2014, Autocam’s Brazilian subsidiary (“Autocam Brazil”) received notification from the Brazilian tax authority regarding ICMS (state value added tax) tax credits claimed on intermediary materials (e.g., tooling and perishable items) used in the manufacturing process. The Brazilian tax authority notification disallowed state ICMS tax credits claimed on intermediary materials based on the argument that these items are not intrinsically related to the manufacturing processes. Autocam Brazil filed an administrative defense with the Brazilian tax authority arguing, among other matters, that it should qualify for an ICMS tax credit, contending that the intermediary materials are directly related to the manufacturing process. We believe that we have substantial legal and factual defenses, and we plan to defend our interests in this matter vigorously. The matter encompasses several lawsuits filed with the Brazilian courts requesting declaratory actions that no tax is due or seeking a stay of execution on the collection of the tax. In 2018, we obtained a favorable decision in one of the declaratory actions for which the period for appeal has expired. We have filed actions in each court requesting dismissal of the matter based on the earlier court action. In May 2020, we received an unfavorable decision in one of the lawsuits, and as a result have recorded a liability to the Brazilian tax authorities and a receivable from the former shareholders of Autocam for the same amount. Although we anticipate a favorable resolution to the remaining matters, we can provide no assurances that we will be successful in achieving dismissal of all pending cases. The U.S. dollar amount that would be owed in the event of an unfavorable decision is subject to interest, penalties, and currency impacts and therefore is dependent on the timing of the decision. For the remaining open lawsuits, we currently believe the cumulative potential liability in the event of unfavorable decisions on all matters will be less than $5.0 million, inclusive of interest and penalties. We are entitled to indemnification from the former shareholders of Autocam, subject to the limitations and procedures set forth in the agreement and plan of merger relating to the Autocam acquisition. Management believes the indemnification would include amounts owed for the tax, interest, and penalties related to this matter. Accordingly, we do not expect to incur a loss related to this matter even in the event of an unfavorable decision and, therefore, have not accrued an amount for the remaining matters as of September 30, 2023. Other Legal Matters All other legal proceedings are of an ordinary and routine nature and are incidental to our operations. Management believes that such proceedings should not, individually or in the aggregate, have a material adverse effect on our business, financial condition, results of operations, or cash flows. In making that determination, we analyze the facts and circumstances of each case at least quarterly in consultation with our attorneys and determine a range of reasonably possible outcomes.

Preferred Stock and Stockholder

Preferred Stock and Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Temporary Equity Disclosure [Abstract]
Preferred Stock and Stockholders' Equity	Preferred Stock and Stockholders' Equity Series D Perpetual Preferred Stock On March 22, 2021, we completed a private placement of 65,000 shares of newly designated Series D Perpetual Preferred Stock, with a par value of $0.01 per share (the “Series D Preferred Stock”), at a price of $1,000 per share, together with detachable warrants (the “2021 Warrants”) to purchase up to 1.9 million shares of our common stock at an exercise price of $0.01 per share. The Series D Preferred Stock has an initial liquidation preference of $1,000 per share and is redeemable at our option in cash at a redemption price equal to the liquidation preference then in effect. Series D Preferred Stock shares earn cash dividends at a rate of 10.0% per year, payable quarterly in arrears, accruing whether or not earned or declared. If no cash dividend is paid, then the liquidation preference per share effective on the dividend date increases by 12.0% per year. Beginning March 22, 2026, the cash dividend rate and in-kind dividend rate increase by 2.5% per year. Cash dividends are required beginning on September 30, 2027. The Series D Preferred Stock is classified as mezzanine equity, between liabilities and stockholders’ equity, because certain features of the Series D Preferred Stock could require redemption of the Series D Preferred Stock upon a change of control event that is considered not solely within our control. For initial recognition, the Series D Preferred Stock was recognized at a discounted value, net of issuance costs and allocation to warrants and a bifurcated embedded derivative. The aggregate discount is amortized as a deemed dividend through March 22, 2026, which is the date the dividend rate begins to increase by 2.5% per year. Deemed dividends adjust retained earnings (or in the absence of retained earnings, additional paid-in capital). In accordance with ASC 815-15, Derivatives and Hedging - Embedded Derivatives, certain features of the Series D Preferred Stock were bifurcated and accounted for as derivatives separately. Note 15 discusses the accounting for these features. As of September 30, 2023, the carrying value of the Series D Preferred Stock shares was $74.3 million, which included $27.6 million of accumulated unpaid and deemed dividends. The following table presents the change in the Series D Preferred Stock carrying value during the nine months ended September 30, 2023. Balance as of December 31, 2022 $ 64,701 Accrual of in-kind dividends 7,451 Amortization 2,143 Balance as of September 30, 2023 $ 74,295

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Revenue is recognized when control of the good or service is transferred to the customer either at a point in time or, in limited circumstances, as our services are rendered over time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or services. The following tables summarize revenue by customer geographical region. Three Months Ended September 30, 2023 Mobile Power Intersegment Total United States and Puerto Rico $ 37,048 $ 36,433 $ (2) $ 73,479 China 12,414 1,671 — 14,085 Brazil 13,936 215 — 14,151 Mexico 3,221 3,204 — 6,425 Germany 2,139 98 — 2,237 Poland 1,397 2 — 1,399 Other 8,806 3,861 — 12,667 Total net sales $ 78,961 $ 45,484 $ (2) $ 124,443 Three Months Ended September 30, 2022 Mobile Power Intersegment Total United States and Puerto Rico $ 35,419 $ 39,579 $ 51 $ 75,049 China 12,839 1,378 — 14,217 Brazil 14,109 137 — 14,246 Mexico 5,185 4,769 — 9,954 Germany 1,432 84 — 1,516 Poland 1,100 2 — 1,102 Other 6,038 5,175 — 11,213 Total net sales $ 76,122 $ 51,124 $ 51 $ 127,297 Nine Months Ended September 30, 2023 Mobile Power Intersegment Total United States and Puerto Rico $ 112,850 $ 115,571 $ (13) $ 228,408 China 37,714 4,480 — 42,194 Brazil 37,372 479 — 37,851 Mexico 11,106 9,892 — 20,998 Germany 5,617 329 — 5,946 Poland 5,025 11 — 5,036 Other 24,448 11,856 — 36,304 Total net sales $ 234,132 $ 142,618 $ (13) $ 376,737 Nine Months Ended September 30, 2022 Mobile Power Intersegment Total United States and Puerto Rico $ 109,183 $ 120,442 $ — $ 229,625 China 34,155 3,855 — 38,010 Brazil 36,122 794 — 36,916 Mexico 18,336 13,868 — 32,204 Germany 3,836 219 — 4,055 Poland 3,598 7 — 3,605 Other 20,312 15,999 — 36,311 Total net sales $ 225,542 $ 155,184 $ — $ 380,726 The following tables summarize revenue by customer industry. Our products in the automotive industry include high-precision components and assemblies for electric power steering systems, electric braking, electric motors, fuel systems, emissions control, transmissions, moldings, stampings, sensors, and electrical contacts. Our products in the general industrial industry include high-precision metal and plastic components for a variety of industrial applications including diesel industrial motors, heating and cooling systems, fluid power systems, power tools, and more. While many of the industries we serve include electrical components, our products in the residential/commercial electrical industry category in the following tables include components used in smart meters, charging stations, circuit breakers, transformers, electrical contact assemblies, precision stampings, welded contact assemblies, specification plating, and surface finishing. Three Months Ended September 30, 2023 Mobile Power Intersegment Total Automotive $ 55,933 $ 8,641 $ — $ 64,574 General Industrial 17,284 12,351 — 29,635 Residential/Commercial Electrical — 17,802 — 17,802 Other 5,744 6,690 (2) 12,432 Total net sales $ 78,961 $ 45,484 $ (2) $ 124,443 Three Months Ended September 30, 2022 Mobile Power Intersegment Total Automotive $ 51,388 $ 10,822 $ — $ 62,210 General Industrial 19,546 14,751 — 34,297 Residential/Commercial Electrical — 17,025 — 17,025 Other 5,188 8,526 51 13,765 Total net sales $ 76,122 $ 51,124 $ 51 $ 127,297 Nine Months Ended September 30, 2023 Mobile Power Intersegment Total Automotive $ 164,698 $ 26,559 $ — $ 191,257 General Industrial 56,725 40,466 — 97,191 Residential/Commercial Electrical — 49,995 — 49,995 Other 12,709 25,598 (13) 38,294 Total net sales $ 234,132 $ 142,618 $ (13) $ 376,737 Nine Months Ended September 30, 2022 Mobile Power Intersegment Total Automotive $ 150,834 $ 30,628 $ — $ 181,462 General Industrial 61,883 47,726 — 109,609 Residential/Commercial Electrical — 52,981 — 52,981 Other 12,825 23,849 — 36,674 Total net sales $ 225,542 $ 155,184 $ — $ 380,726 Deferred Revenue Deferred revenue relates to payments received in advance of performance under the contract and recognized as revenue as (or when) we perform under the contract. The balance of deferred revenue was $1.1 million and $0.7 million as of September 30, 2023 and December 31, 2022, respectively. Revenue recognized for performance obligations satisfied or partially satisfied during the nine months ended September 30, 2023 included $0.7 million that was included in deferred revenue as of December 31, 2022. Transaction Price Allocated to Future Performance Obligations We are required to disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of September 30, 2023, unless our contracts meet one of the practical expedients. Our contracts met the practical expedient for a performance obligation that is part of a contract that has an original expected duration of one year or less.

Shared-Based Compensation

Shared-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Shared-Based Compensation	Share-Based Compensation The following table lists the components of share-based compensation expense by type of award, which is recognized in the “Selling, general, and administrative expense” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended Nine Months Ended 2023 2022 2023 2022 Restricted stock $ 1,001 471 1,780 3,233 Performance share units 206 (201) 264 505 Stock options — $ 37 $ 14 $ 124 Share-based compensation expense $ 1,207 $ 307 $ 2,058 $ 3,862 Restricted Stock The following table presents the status of unvested restricted stock awards as of September 30, 2023 and changes during the nine months then ended. Nonvested Weighted Average Grant-Date Unvested at January 1, 2023 1,038 $ 4.03 Granted 3,711 1.37 Vested (1,130) 3.65 Forfeited (160) 1.51 Unvested at September 30, 2023 3,459 $ 1.41 During the nine months ended September 30, 2023, we granted 1,881,000 shares of restricted stock to non-executive directors, officers and certain other employees under the NN, Inc. 2022 Omnibus Incentive Plan (“2022 Omnibus Plan”). The shares of restricted stock vest pro-rata generally over three years for employees and over one year for non-executive directors. During the nine months ended September 30, 2023, we granted 1,830,000 shares of restricted stock to new executive officers as inducement awards, which vest pro-rata over five years. Total grant date fair value of restricted stock that vested in the nine months ended September 30, 2023, was $4.1 million. Performance Share Units Performance Share Units (“PSUs”) are a form of long-term incentive compensation awarded to executive officers and certain other key employees designed to directly align the interests of employees to the interests of our stockholders, and to create long-term stockholder value. The following table presents the status of unvested PSUs as of September 30, 2023 and activity during the nine months then ended. Nonvested PSU Awards Weighted Average Grant-Date Nonvested at January 1, 2023 1,031 $ 3.80 Granted 3,621 1.14 Vested (67) 4.63 Forfeited (634) 2.47 Nonvested at September 30, 2023 3,951 $ 1.56 During the nine months ended September 30, 2023, we granted 561,000 PSUs to certain executive officers. These units vest, if at all, upon our achieving a specified relative total shareholder return, which will be measured against the total shareholder return of a specified index during the three-year performance period that ends December 31, 2025. During the nine months ended September 30, 2023, we granted 3,060,000 PSUs to new executive officers as inducement awards. These units cliff-vest after five years and are contingent on the Company’s stock price meeting specified thresholds. We estimated the grant date fair value of the PSU awards using the Monte Carlo simulation model, as the total shareholder return metric and changes in stock price are considered market conditions under ASC Topic 718, Compensation – stock compensation . During the nine months ended September 30, 2023, 67,000 PSUs were subject to accelerated vesting upon a participant’s termination that was a qualifying event under the terms of the PSU award agreements. Total grant date fair value of PSUs that vested in the nine months ended September 30, 2023, was $0.3 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following tables present the components of accumulated other comprehensive income (loss) (“AOCI”). Foreign Currency Translation Interest rate swap Income taxes (1) Total Balance as of June 30, 2023 $ (40,706) $ 1,905 $ — $ (38,801) Other comprehensive income (loss) before reclassifications (3,072) — — (3,072) Amounts reclassified from AOCI to interest expense (2) — (449) — (449) Net other comprehensive income (loss) (3,072) (449) — (3,521) Balance as of September 30, 2023 $ (43,778) $ 1,456 $ — $ (42,322) Balance as of June 30, 2022 $ (37,906) $ 2,207 $ (468) $ (36,167) Other comprehensive income (loss) before reclassifications (7,653) 1,145 (241) (6,749) Amounts reclassified from AOCI to interest expense (2) — (146) 30 (116) Net other comprehensive income (loss) (7,653) 999 (211) (6,865) Balance as of September 30, 2022 $ (45,559) $ 3,206 $ (679) $ (43,032) Foreign Currency Translation Interest rate swap Income taxes (1) Total Balance as of December 31, 2022 $ (40,172) $ 3,149 $ (97) $ (37,120) Other comprehensive income (loss) before reclassifications (3,606) (327) 97 (3,836) Amounts reclassified from AOCI to interest expense (2) — (1,366) — (1,366) Net other comprehensive income (loss) (3,606) (1,693) 97 (5,202) Balance as of September 30, 2023 $ (43,778) $ 1,456 $ — $ (42,322) Balance as of December 31, 2021 $ (32,016) $ 151 $ (37) (31,902) Other comprehensive income (loss) before reclassifications (13,543) 3,119 (655) (11,079) Amounts reclassified from AOCI to interest expense (2) — (64) 13 (51) Net other comprehensive income (loss) (13,543) 3,055 (642) (11,130) Balance as of September 30, 2022 $ (45,559) $ 3,206 $ (679) $ (43,032) ______________________ (1) Income tax effect of changes in interest rate swap. (2) Represents (gain) loss recognized in interest expense on effective interest rate swap.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Loss Per Common Share The following table summarizes the computation of basic and diluted net loss per common share. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (5,057) $ (2,215) $ (29,609) $ (14,084) Adjustment for preferred stock cumulative dividends and deemed dividends (3,347) (2,783) (9,594) (7,979) Numerator for basic and diluted net loss per common share $ (8,404) $ (4,998) $ (39,203) $ (22,063) Denominator: Weighted average common shares outstanding 47,186 43,884 45,793 43,695 Adjustment for participating securities (3,496) (1,065) (2,365) (918) Adjustment for warrants outstanding (1) 3,849 1,892 2,982 1,893 Shares used to calculate basic and diluted net loss per share 47,539 44,711 46,410 44,670 Basic and diluted net loss per common share $ (0.18) $ (0.11) $ (0.84) $ (0.49) Cash dividends declared per common share $ — $ — $ — $ — _______________________________ (1) Outstanding warrants that are exercisable at an exercise price of $0.01 per share, are included in shares outstanding for calculation of basic earnings per share (see Note 15). The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Stock Options 315 542 407 563 2019 Warrants 1,500 1,500 1,500 1,500 1,815 2,042 1,907 2,063 Stock options excluded from the calculations of diluted net loss per share had a per share exercise price ranging from $7.93 to $25.16 for the three and nine months ended September 30, 2023. The 2019 Warrants excluded from the calculation of diluted net loss per share had a per share exercise price of $11.03.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is an exit price representing the expected amount that an entity would receive to sell an asset or pay to transfer a liability in an orderly transaction with market participants at the measurement date. We followed consistent methods and assumptions to estimate fair values as more fully described in the 2022 Annual Report. Embedded Derivatives In accordance with ASC 815-15, Derivatives and Hedging - Embedded Derivatives , certain features of our preferred stock and long term debt were bifurcated and accounted for as derivatives separately. In conjunction with the Term Loan Amendment, we issued warrants to purchase up to 2.0 million shares of our common stock at an exercise price of $0.01 per share (the “2023 Warrants”). The 2023 Warrants are exercisable, in full or in part, at any time up to ten years after issuance. The 2023 Warrants include anti-dilution adjustments in the event of certain future equity issuances, stock splits, stock dividends, combinations or similar events. In conjunction with our placement of the Series D Preferred Stock, we issued the 2021 Warrants to purchase up to 1.9 million shares of our common stock. The 2021 Warrants are exercisable, in full or in part, at any time prior to March 22, 2027, at an exercise price of $0.01 per share, subject to anti-dilution adjustments in the event of certain future equity issuances, stock splits, stock dividends, combinations or similar events. The Series D Preferred Stock includes a put feature that allows the holder to redeem the Series D Preferred Stock upon a change in control at the greater of 1) the liquidation preference plus accrued dividends or 2) 140% of the liquidation preference. The put feature is considered a redemption right at a premium and is not clearly and closely related to the debt host. In conjunction with our placement of the Series B Preferred Stock, we issued detachable warrants to purchase up to 1.5 million shares of our common stock at an exercise price of $12.00 per share (the “2019 Warrants”). The 2019 Warrants, are exercisable, in full or in part, at any time prior to December 11, 2026 and are subject to anti-dilution adjustments in the event of future below market issuances, stock splits, stock dividends, combinations or similar events. Due to the dilutive impact of subsequent issuances of warrants, the exercise price of the 2019 Warrants has been adjusted to $11.03 per share. The following table presents the change in the liability balance of the embedded derivatives during the nine months ended September 30, 2023. Balance as of December 31, 2022 $ 2,959 Issuances 2,712 Change in fair value (1) 1,642 Balance as of September 30, 2023 $ 7,313 _______________________________ (1) Changes in the fair value are recognized in the “Other expense (income), net” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The following tables show the fair values of the embedded derivatives within the fair value hierarchy. September 30, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Derivative liability - other non-current liabilities $ 7,150 $ — $ 163 December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Derivative liability - other non-current liabilities $ 2,831 $ — $ 128 The fair value of the 2023 Warrants and 2021 Warrants is determined using the observable market price of a share of our common stock, less the $0.01 per share exercise price. The fair value of the change-in-control put feature utilizes unobservable inputs based on the Company’s assessment of the probability of a change-in-control event occurring in a future period. The probability of a change-in-control event was 3% as of September 30, 2023 and ranged from 3% to 10% as of December 31, 2022. The fair value of the 2019 Warrants is determined using a valuation model that utilizes unobservable inputs to determine the probability that the 2019 Warrants will remain outstanding for future periods. The probabilities resulted in a weighted average term of 2.9 years as of September 30, 2023 and December 31, 2022. Interest Rate Swap On July 22, 2021, we entered into a fixed-rate interest rate swap agreement to change the LIBOR-based component of the interest rate on a portion of our variable rate debt to a fixed rate of 1.291% (the “2021 Swap”). The 2021 Swap had a notional amount of $60.0 million and a maturity date of July 31, 2024. We designated the 2021 Swap as a cash flow hedge at inception with cash settlements recognized in interest expense. During the first quarter of 2023, we terminated the 2021 Swap and received cash proceeds of $2.5 million which was the fair value of the 2021 Swap. Since the 2021 Swap was an effective cash flow hedge and the forecasted interest payments remaining probable of occurring, the gain will be recognized as a reduction to interest expense through the original maturity date of July 31, 2024. The following table presents the effects of the interest rate swap on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest expense (benefit) (1) $ (449) $ (146) $ (1,366) $ (64) _______________________________ (1) Represents (gain) loss recognized in interest expense on effective interest rate swap. The following table shows the fair value of the interest rate swap within the fair value hierarchy. December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Derivative asset - other current assets $ — $ 2,130 $ — Derivative asset - other non-current assets — 1,023 — Total $ — $ 3,153 $ — The fair value of the interest rate swap is calculated through standard pricing models which use inputs derived from or corroborated by observable market data such as interest rate yield curves, index forward curves, discount curves, and volatility surfaces. The counterparty to these derivative contracts is a highly rated financial institution which we believe carries only a minimal risk of nonperformance. Fair Value Disclosures

Interim Financial Statements (P

Interim Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have not been audited. The Condensed Consolidated Balance Sheet as of December 31, 2022, was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”), which we filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 10, 2023. In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to fairly state our results of operations for the three and nine months ended September 30, 2023 and 2022; financial position as of September 30, 2023 and December 31, 2022; and cash flows for the nine months ended September 30, 2023 and 2022, on a basis consistent with our audited consolidated financial statements. These adjustments are of a normal recurring nature and are, in the opinion of management, necessary to state fairly the Company’s financial position and operating results for the interim periods. Certain prior period amounts have been reclassified to conform to the current year’s presentation. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted from the unaudited condensed consolidated financial statements presented in this Quarterly Report. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes included in the 2022 Annual Report. The results for the three and nine months ended September 30, 2023, are not necessarily indicative of results for the year ending December 31, 2023, or any other future periods.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	The following table presents our financial performance by reportable segment. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Net sales: Mobile Solutions $ 78,961 $ 76,122 $ 234,132 $ 225,542 Power Solutions 45,484 51,124 142,618 155,184 Intersegment sales eliminations (2) 51 (13) — Total $ 124,443 $ 127,297 $ 376,737 $ 380,726 Income (loss) from operations: Mobile Solutions $ (1,283) $ (474) $ (6,063) $ 3,224 Power Solutions 3,936 2,582 8,266 4,376 Corporate (5,392) (4,225) (16,064) (17,651) Total $ (2,739) $ (2,117) $ (13,861) $ (10,051)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories are comprised of the following amounts: September 30, 2023 December 31, 2022 Raw materials $ 26,780 $ 32,146 Work in process 23,317 24,610 Finished goods 20,820 23,926 Total inventories $ 70,917 $ 80,682

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Carrying Amount of Intangible Assets Net	The following table shows changes in the carrying amount of intangible assets, net, by reportable segment. Mobile Power Total Balance as of December 31, 2022 $ 22,356 $ 50,535 $ 72,891 Amortization (2,515) (8,174) (10,689) Balance as of September 30, 2023 $ 19,841 $ 42,361 $ 62,202

Investment in Joint Venture (Ta

Investment in Joint Venture (Tables)	9 Months Ended
	Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Summarized Activity Related to Investment in Joint Venture	The following table shows changes in our investment in the JV. Balance as of December 31, 2022 $ 31,802 Share of earnings 3,087 Dividends paid by joint venture (3,938) Foreign currency translation loss (1,820) Balance as of September 30, 2023 $ 29,131

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Summary of Debt	The following table presents the outstanding debt balances. September 30, 2023 December 31, 2022 Term Loan Facility $ 147,741 $ 147,375 ABL Facility — 1,000 International loans 10,704 8,729 Total principal 158,445 157,104 Less: short-term debt and current maturities of long-term debt 6,699 3,321 Principal of long-term debt, net of current portion 151,746 153,783 Less: unamortized debt issuance costs and discount (1) 5,854 4,394 Long-term debt, net of current portion $ 145,892 $ 149,389 _______________________________ (1) In addition to this amount, costs of $0.5 million and $0.6 million related to the ABL Facility were recorded in other non-current assets as of September 30, 2023 and December 31, 2022, respectively.

Preferred Stock and Stockhold_2

Preferred Stock and Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Temporary Equity Disclosure [Abstract]
Temporary Equity	The following table presents the change in the Series D Preferred Stock carrying value during the nine months ended September 30, 2023. Balance as of December 31, 2022 $ 64,701 Accrual of in-kind dividends 7,451 Amortization 2,143 Balance as of September 30, 2023 $ 74,295

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended September 30, 2023 Mobile Power Intersegment Total United States and Puerto Rico $ 37,048 $ 36,433 $ (2) $ 73,479 China 12,414 1,671 — 14,085 Brazil 13,936 215 — 14,151 Mexico 3,221 3,204 — 6,425 Germany 2,139 98 — 2,237 Poland 1,397 2 — 1,399 Other 8,806 3,861 — 12,667 Total net sales $ 78,961 $ 45,484 $ (2) $ 124,443 Three Months Ended September 30, 2022 Mobile Power Intersegment Total United States and Puerto Rico $ 35,419 $ 39,579 $ 51 $ 75,049 China 12,839 1,378 — 14,217 Brazil 14,109 137 — 14,246 Mexico 5,185 4,769 — 9,954 Germany 1,432 84 — 1,516 Poland 1,100 2 — 1,102 Other 6,038 5,175 — 11,213 Total net sales $ 76,122 $ 51,124 $ 51 $ 127,297 Nine Months Ended September 30, 2023 Mobile Power Intersegment Total United States and Puerto Rico $ 112,850 $ 115,571 $ (13) $ 228,408 China 37,714 4,480 — 42,194 Brazil 37,372 479 — 37,851 Mexico 11,106 9,892 — 20,998 Germany 5,617 329 — 5,946 Poland 5,025 11 — 5,036 Other 24,448 11,856 — 36,304 Total net sales $ 234,132 $ 142,618 $ (13) $ 376,737 Nine Months Ended September 30, 2022 Mobile Power Intersegment Total United States and Puerto Rico $ 109,183 $ 120,442 $ — $ 229,625 China 34,155 3,855 — 38,010 Brazil 36,122 794 — 36,916 Mexico 18,336 13,868 — 32,204 Germany 3,836 219 — 4,055 Poland 3,598 7 — 3,605 Other 20,312 15,999 — 36,311 Total net sales $ 225,542 $ 155,184 $ — $ 380,726 The following tables summarize revenue by customer industry. Our products in the automotive industry include high-precision components and assemblies for electric power steering systems, electric braking, electric motors, fuel systems, emissions control, transmissions, moldings, stampings, sensors, and electrical contacts. Our products in the general industrial industry include high-precision metal and plastic components for a variety of industrial applications including diesel industrial motors, heating and cooling systems, fluid power systems, power tools, and more. While many of the industries we serve include electrical components, our products in the residential/commercial electrical industry category in the following tables include components used in smart meters, charging stations, circuit breakers, transformers, electrical contact assemblies, precision stampings, welded contact assemblies, specification plating, and surface finishing. Three Months Ended September 30, 2023 Mobile Power Intersegment Total Automotive $ 55,933 $ 8,641 $ — $ 64,574 General Industrial 17,284 12,351 — 29,635 Residential/Commercial Electrical — 17,802 — 17,802 Other 5,744 6,690 (2) 12,432 Total net sales $ 78,961 $ 45,484 $ (2) $ 124,443 Three Months Ended September 30, 2022 Mobile Power Intersegment Total Automotive $ 51,388 $ 10,822 $ — $ 62,210 General Industrial 19,546 14,751 — 34,297 Residential/Commercial Electrical — 17,025 — 17,025 Other 5,188 8,526 51 13,765 Total net sales $ 76,122 $ 51,124 $ 51 $ 127,297 Nine Months Ended September 30, 2023 Mobile Power Intersegment Total Automotive $ 164,698 $ 26,559 $ — $ 191,257 General Industrial 56,725 40,466 — 97,191 Residential/Commercial Electrical — 49,995 — 49,995 Other 12,709 25,598 (13) 38,294 Total net sales $ 234,132 $ 142,618 $ (13) $ 376,737 Nine Months Ended September 30, 2022 Mobile Power Intersegment Total Automotive $ 150,834 $ 30,628 $ — $ 181,462 General Industrial 61,883 47,726 — 109,609 Residential/Commercial Electrical — 52,981 — 52,981 Other 12,825 23,849 — 36,674 Total net sales $ 225,542 $ 155,184 $ — $ 380,726

Shared-Based Compensation (Tabl

Shared-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Components of Share-Based Compensation Expense by Type of Award	The following table lists the components of share-based compensation expense by type of award, which is recognized in the “Selling, general, and administrative expense” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended Nine Months Ended 2023 2022 2023 2022 Restricted stock $ 1,001 471 1,780 3,233 Performance share units 206 (201) 264 505 Stock options — $ 37 $ 14 $ 124 Share-based compensation expense $ 1,207 $ 307 $ 2,058 $ 3,862
Schedule of Nonvested Share Activity	The following table presents the status of unvested restricted stock awards as of September 30, 2023 and changes during the nine months then ended. Nonvested Weighted Average Grant-Date Unvested at January 1, 2023 1,038 $ 4.03 Granted 3,711 1.37 Vested (1,130) 3.65 Forfeited (160) 1.51 Unvested at September 30, 2023 3,459 $ 1.41
Summary of Status of Unvested PSU Awards	The following table presents the status of unvested PSUs as of September 30, 2023 and activity during the nine months then ended. Nonvested PSU Awards Weighted Average Grant-Date Nonvested at January 1, 2023 1,031 $ 3.80 Granted 3,621 1.14 Vested (67) 4.63 Forfeited (634) 2.47 Nonvested at September 30, 2023 3,951 $ 1.56

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following tables present the components of accumulated other comprehensive income (loss) (“AOCI”). Foreign Currency Translation Interest rate swap Income taxes (1) Total Balance as of June 30, 2023 $ (40,706) $ 1,905 $ — $ (38,801) Other comprehensive income (loss) before reclassifications (3,072) — — (3,072) Amounts reclassified from AOCI to interest expense (2) — (449) — (449) Net other comprehensive income (loss) (3,072) (449) — (3,521) Balance as of September 30, 2023 $ (43,778) $ 1,456 $ — $ (42,322) Balance as of June 30, 2022 $ (37,906) $ 2,207 $ (468) $ (36,167) Other comprehensive income (loss) before reclassifications (7,653) 1,145 (241) (6,749) Amounts reclassified from AOCI to interest expense (2) — (146) 30 (116) Net other comprehensive income (loss) (7,653) 999 (211) (6,865) Balance as of September 30, 2022 $ (45,559) $ 3,206 $ (679) $ (43,032) Foreign Currency Translation Interest rate swap Income taxes (1) Total Balance as of December 31, 2022 $ (40,172) $ 3,149 $ (97) $ (37,120) Other comprehensive income (loss) before reclassifications (3,606) (327) 97 (3,836) Amounts reclassified from AOCI to interest expense (2) — (1,366) — (1,366) Net other comprehensive income (loss) (3,606) (1,693) 97 (5,202) Balance as of September 30, 2023 $ (43,778) $ 1,456 $ — $ (42,322) Balance as of December 31, 2021 $ (32,016) $ 151 $ (37) (31,902) Other comprehensive income (loss) before reclassifications (13,543) 3,119 (655) (11,079) Amounts reclassified from AOCI to interest expense (2) — (64) 13 (51) Net other comprehensive income (loss) (13,543) 3,055 (642) (11,130) Balance as of September 30, 2022 $ (45,559) $ 3,206 $ (679) $ (43,032) ______________________ (1) Income tax effect of changes in interest rate swap. (2) Represents (gain) loss recognized in interest expense on effective interest rate swap.

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The following table summarizes the computation of basic and diluted net loss per common share. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (5,057) $ (2,215) $ (29,609) $ (14,084) Adjustment for preferred stock cumulative dividends and deemed dividends (3,347) (2,783) (9,594) (7,979) Numerator for basic and diluted net loss per common share $ (8,404) $ (4,998) $ (39,203) $ (22,063) Denominator: Weighted average common shares outstanding 47,186 43,884 45,793 43,695 Adjustment for participating securities (3,496) (1,065) (2,365) (918) Adjustment for warrants outstanding (1) 3,849 1,892 2,982 1,893 Shares used to calculate basic and diluted net loss per share 47,539 44,711 46,410 44,670 Basic and diluted net loss per common share $ (0.18) $ (0.11) $ (0.84) $ (0.49) Cash dividends declared per common share $ — $ — $ — $ — _______________________________ (1) Outstanding warrants that are exercisable at an exercise price of $0.01 per share, are included in shares outstanding for calculation of basic earnings per share (see Note 15).
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect. Three Months Ended Nine Months Ended 2023 2022 2023 2022 Stock Options 315 542 407 563 2019 Warrants 1,500 1,500 1,500 1,500 1,815 2,042 1,907 2,063

Interim Financial Statements (D

Interim Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Loss on Sale of Financial Assets	$ 800
Gain (Loss) on Disposition of Property Plant Equipment		$ 200

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Revenue, Major Customer [Line Items]
Number of reportable segments	2
Number of operating segments	2

Operating Segment Results (Deta

Operating Segment Results (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 124,443	$ 127,297	$ 376,737	$ 380,726
Operating Income (Loss)	(2,739)	(2,117)	(13,861)	(10,051)
Mobile Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	78,961	76,122	234,132	225,542
Power Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	45,484	51,124	142,618	155,184
Corporate
Segment Reporting Information [Line Items]
Operating Income (Loss)	(5,392)	(4,225)	(16,064)	(17,651)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(2)	51	(13)	0
Operating Segments | Mobile Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	78,961	76,122	234,132	225,542
Operating Income (Loss)	(1,283)	(474)	(6,063)	3,224
Operating Segments | Power Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	45,484	51,124	142,618	155,184
Operating Income (Loss)	$ 3,936	$ 2,582	$ 8,266	$ 4,376

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 26,780	$ 32,146
Work in process	23,317	24,610
Finished goods	20,820	23,926
Total inventories	$ 70,917	$ 80,682

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Carrying Amount of Intangible Assets by Segment (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Finite-lived Intangible Assets [Roll Forward]
Beginning Balance	$ 72,891
Amortization	(10,689)
Ending balance	62,202
Mobile Solutions [Member]
Finite-lived Intangible Assets [Roll Forward]
Beginning Balance	22,356
Amortization	(2,515)
Ending balance	19,841
Power Solutions [Member]
Finite-lived Intangible Assets [Roll Forward]
Beginning Balance	50,535
Amortization	(8,174)
Ending balance	$ 42,361

Investment in Joint Venture - A

Investment in Joint Venture - Additional Information (Detail)	Sep. 30, 2023
Wuxi Weifu Autocam Precision Machinery Company, Ltd.
Schedule of Equity Method Investments [Line Items]
Investment in joint venture	49%

Investment in Joint Venture - S

Investment in Joint Venture - Summarized Activity Related to Investment in Joint Venture (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity Method Investments [Roll Forward]
Beginning Balance			$ 31,802
Share of earnings	$ 1,713	$ 1,424	3,087	$ 3,935
Ending Balance	29,131		29,131
Joint Venture
Equity Method Investments [Roll Forward]
Beginning Balance			31,802
Share of earnings			3,087
Proceeds from Equity Method Investment, Distribution			(3,938)
Foreign currency translation loss			(1,820)
Ending Balance	$ 29,131		$ 29,131

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate from continuing operations	3.50%	22.70%	(4.40%)	(9.20%)
Effective income tax rate reconciliation, at federal statutory income tax rate, percent			21%

Debt - Summary of Debt (Detail)

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal	$ 158,445	$ 157,104
Short-term debt and current maturities of long-term debt	6,699	3,321
Principal of long-term debt, net of current portion	151,746	153,783
Less: unamortized debt issuance costs and discount (1)	5,854	4,394
Long-term debt, net of current portion	145,892	149,389
Debt issuance costs, line of credit arrangements, net	500	600
Term Loan Facility Member
Debt Instrument [Line Items]
Total principal	147,741	147,375
Asset Backed Credit Facility Member [Member]
Debt Instrument [Line Items]
Total principal	0	1,000
International Loans
Debt Instrument [Line Items]
Total principal	$ 10,704	$ 8,729

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Mar. 22, 2021
Debt Instrument [Line Items]
Proceeds From Derivative Instrument Operating Activities	$ 2,500
Interest Rate Swap | July 22 2021
Debt Instrument [Line Items]
Derivative, fixed interest rate		1.291%
Derivative, notional amount		$ 60,000
Term Loan Facility Member
Debt Instrument [Line Items]
Borrowings			$ 150,000
Principal payment amount	400
Debt issuance costs	$ 5,300
Debt Instrument, Unamortized Discount			$ 3,800
Long-Term Debt, Weighted Average Interest Rate, at Point in Time	14.291%
Term Loan Facility Member | Minimum
Debt Instrument [Line Items]
Interest Paid In Kind Rate	1%
Term Loan Facility Member | Maximum
Debt Instrument [Line Items]
Interest Paid In Kind Rate	2%
Term Loan Facility Member | Various Benchmark Rates Member
Debt Instrument [Line Items]
Applicable margin	5.875%
Term Loan Facility Member | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin	6.875%
Term Loan Facility Member | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Applicable margin	1%
Asset Backed Credit Facility Member [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000
Applicable margin	2%
Unused capacity, commitment fee percentage	0.375%
Available capacity	$ 28,700
Letters of Credit Outstanding, Amount	$ 10,900
Long-Term Debt, Weighted Average Interest Rate, at Point in Time	7.429%
Asset Backed Credit Facility Member [Member] | Federal Funds Or Prime Rate Member | Minimum
Debt Instrument [Line Items]
Applicable margin	0.75%
Asset Backed Credit Facility Member [Member] | Federal Funds Or Prime Rate Member | Maximum
Debt Instrument [Line Items]
Applicable margin	1%
Asset Backed Credit Facility Member [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Applicable margin	1.75%
Asset Backed Credit Facility Member [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Applicable margin	2%
Letters of credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 30,000
Unused capacity, commitment fee percentage	2.125%
Swingline loans
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in finance leases	$ 258	$ 262
Operating cash flows used in operating leases	10,533	10,865
Financing cash flows used in finance leases	1,084	2,177
Right-of-use assets obtained in exchange for new finance lease liabilities	1,619	908
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$ 477	$ 3,835

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Sep. 30, 2023 USD ($)
Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 5

Preferred Stock and Stockhold_3

Preferred Stock and Stockholders' Equity - Additional Information (Details) - Series D Preferred Stock - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		9 Months Ended
	Mar. 22, 2021	Sep. 30, 2023
Temporary Equity [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	65
Temporary equity, par value (in dollars per share)		$ 0.01
Sale of stock, price per share (in dollars per share)		$ 1,000
Class of warrant or right, number of securities called by warrants or rights (in shares)		1,900
Class of warrant or right, exercise price of warrants or rights (in dollars per share)		$ 0.01
Temporary equity, liquidation preference per share (in dollars per share)		$ 1,000
Temporary equity, dividend rate, percentage		10%
Increase in dividend rate if no cash dividends paid		12%
Annual increase in dividend rate		2.50%
Temporary Equity Dividends Unpaid Deemed		$ 27,600

Preferred Stock and Stockhold_4

Preferred Stock and Stockholders' Equity - Carrying Value Roll Forward (Details) - Series D Preferred Stock $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance as of December 31, 2022	$ 64,701
Accrual of in-kind dividends	7,451
Amortization	2,143
Balance as of September 30, 2023	$ 74,295

Revenue Disaggragation (Details

Revenue Disaggragation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 124,443	$ 127,297	$ 376,737	$ 380,726
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Net sales	(2)	51	(13)	0
Automotive [Member]
Disaggregation of Revenue [Line Items]
Net sales	64,574	62,210	191,257	181,462
General Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	29,635	34,297	97,191	109,609
Electrical [Member]
Disaggregation of Revenue [Line Items]
Net sales	17,802	17,025	49,995	52,981
Other End Market Member
Disaggregation of Revenue [Line Items]
Net sales	12,432	13,765	38,294	36,674
Other End Market Member | Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Net sales	(2)	51	(13)
Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	78,961	76,122	234,132	225,542
Mobile Solutions [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	78,961	76,122	234,132	225,542
Mobile Solutions [Member] | Automotive [Member]
Disaggregation of Revenue [Line Items]
Net sales	55,933	51,388	164,698	150,834
Mobile Solutions [Member] | General Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	17,284	19,546	56,725	61,883
Mobile Solutions [Member] | Electrical [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Mobile Solutions [Member] | Other End Market Member
Disaggregation of Revenue [Line Items]
Net sales	5,744	5,188	12,709	12,825
Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,484	51,124	142,618	155,184
Power Solutions [Member] | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	45,484	51,124	142,618	155,184
Power Solutions [Member] | Automotive [Member]
Disaggregation of Revenue [Line Items]
Net sales	8,641	10,822	26,559	30,628
Power Solutions [Member] | General Industrial [Member]
Disaggregation of Revenue [Line Items]
Net sales	12,351	14,751	40,466	47,726
Power Solutions [Member] | Electrical [Member]
Disaggregation of Revenue [Line Items]
Net sales	17,802	17,025	49,995	52,981
Power Solutions [Member] | Other End Market Member
Disaggregation of Revenue [Line Items]
Net sales	6,690	8,526	25,598	23,849
UNITED STATES
Disaggregation of Revenue [Line Items]
Net sales	73,479	75,049	228,408	229,625
UNITED STATES | Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Net sales	(2)	51	(13)	0
UNITED STATES | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	37,048	35,419	112,850	109,183
UNITED STATES | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	36,433	39,579	115,571	120,442
CHINA
Disaggregation of Revenue [Line Items]
Net sales	14,085	14,217	42,194	38,010
CHINA | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	12,414	12,839	37,714	34,155
CHINA | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,671	1,378	4,480	3,855
BRAZIL
Disaggregation of Revenue [Line Items]
Net sales	14,151	14,246	37,851	36,916
BRAZIL | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	13,936	14,109	37,372	36,122
BRAZIL | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	215	137	479	794
MEXICO
Disaggregation of Revenue [Line Items]
Net sales	6,425	9,954	20,998	32,204
MEXICO | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	3,221	5,185	11,106	18,336
MEXICO | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	3,204	4,769	9,892	13,868
GERMANY
Disaggregation of Revenue [Line Items]
Net sales	2,237	1,516	5,946	4,055
GERMANY | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	2,139	1,432	5,617	3,836
GERMANY | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	98	84	329	219
POLAND
Disaggregation of Revenue [Line Items]
Net sales	1,399	1,102	5,036	3,605
POLAND | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,397	1,100	5,025	3,598
POLAND | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	2	2	11	7
Other Country [Member]
Disaggregation of Revenue [Line Items]
Net sales	12,667	11,213	36,304	36,311
Other Country [Member] | Mobile Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	8,806	6,038	24,448	20,312
Other Country [Member] | Power Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 3,861	$ 5,175	$ 11,856	$ 15,999

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Contract Liabilities from Contracts with Customers (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 1,100	$ 700
Amounts included in deferred revenue for performance obligations satisfied or partially satisfied	$ 700

Shared-Based Compensation - Com

Shared-Based Compensation - Components of Share-Based Compensation Expense by Type of Award (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,207	$ 307	$ 2,058	$ 3,862
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,001	471	1,780	3,233
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	206	(201)	264	505
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 37	$ 14	$ 124

Shared-Based Compensation - Res

Shared-Based Compensation - Restricted Stock Award Rollforward (Detail) - Restricted stock shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Nonvested Shares (in thousands)
Nonvested restricted shares, beginning balance (in shares) | shares	1,038
Nonvested restricted shares, granted (in shares) | shares	3,711
Nonvested restricted shares, vested (in shares) | shares	(1,130)
Nonvested restricted shares, forfeited (in shares) | shares	(160)
Nonvested restricted shares, ending balance (in shares) | shares	3,459
Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share) | $ / shares	$ 4.03
Granted (in dollars per share) | $ / shares	1.37
Vested (in dollars per share) | $ / shares	3.65
Forfeited (in dollars per share) | $ / shares	1.51
Ending balance (in dollars per share) | $ / shares	$ 1.41

Shared-Based Compensation - PSU

Shared-Based Compensation - PSU Award Rollforward (Detail) - Performance share units shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Nonvested PSUs (in thousands)
Nonvested restricted shares, beginning balance (in shares) | shares	1,031
Nonvested restricted shares, granted (in shares) | shares	3,621
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	(67)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares	(634)
Nonvested restricted shares, ending balance (in shares) | shares	3,951
Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share) | $ / shares	$ 3.80
Granted (in dollars per share) | $ / shares	1.14
Vested (in dollars per share) | $ / shares	4.63
Forfeited (in dollars per share) | $ / shares	2.47
Ending balance (in dollars per share) | $ / shares	$ 1.56

Shared-Based Compensation - Add

Shared-Based Compensation - Additional Information (Detail) shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units issued (in shares)	3,711
Total grant-date fair value of restricted stock, vested | $	$ 4.1
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units issued (in shares)	3,621
Total grant-date fair value of restricted stock, vested | $	$ 0.3
Employees | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted vesting period	3 years
Stock units issued (in shares)	1,881
Employees | Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units issued (in shares)	561
Non-executive Directors | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted vesting period	1 year
Chief Executive Officer | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted vesting period	5 years
Stock units issued (in shares)	1,830
Chief Executive Officer | Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted vesting period	5 years
Stock units issued (in shares)	3,060

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (42,322)	$ (43,032)	$ (42,322)	$ (43,032)	$ (38,801)	$ (37,120)	$ (36,167)	$ (31,902)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(3,072)	(7,653)	(3,606)	(13,543)
OCI before reclassifications, tax	0	(241)	97	(655)
OCI before reclassifications, net of tax	(3,072)	(6,749)	(3,836)	(11,079)
Amounts reclassified from AOCI, tax	0	30	0	13
Amounts reclassified from AOCI, net of tax	449	116	1,366	51
Other comprehensive income (loss), tax	0	(211)	97	(642)
Other comprehensive loss	(3,521)	(6,865)	(5,202)	(11,130)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(43,778)	(45,559)	(43,778)	(45,559)	(40,706)	(40,172)	(37,906)	(32,016)
Other Comprehensive Income (Loss), before Tax	(3,072)	(7,653)	(3,606)	(13,543)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Interest Expense
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCI, before tax	0	0	0	0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	1,456	3,206	1,456	3,206	1,905	3,149	2,207	151
OCI before reclassifications and tax	0	1,145	(327)	3,119
Amounts reclassified from AOCI, before tax	(449)	(146)	(1,366)	(64)
Other Comprehensive Income (Loss), before Tax	(449)	999	(1,693)	3,055
Income taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 0	$ (679)	$ 0	$ (679)	$ 0	$ (97)	$ (468)	$ (37)

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Summary of Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (5,057)	$ (2,215)	$ (29,609)	$ (14,084)
Adjustment for preferred stock cumulative dividends and deemed dividends	(3,347)	(2,783)	(9,594)	(7,979)
Numerator for basic income (loss) from continuing operations per common share	(8,404)	(4,998)	(39,203)	(22,063)
Numerator for diluted income (loss) from continuing operations per common share	$ (8,404)	$ (4,998)	$ (39,203)	$ (22,063)
Weighted average common shares outstanding	47,186	43,884	45,793	43,695
Adjustment for participating securities	(3,496)	(1,065)	(2,365)	(918)
Weighted Average Number of Shares, Contingently Issuable	3,849	1,892	2,982	1,893
Weighted average common shares outstanding, basic (in shares)	47,539	44,711	46,410	44,670
Weighted average common shares outstanding, diluted (in shares)	47,539	44,711	46,410	44,670
Basic net loss per share (in dollars per share)	$ (0.18)	$ (0.11)	$ (0.84)	$ (0.49)
Diluted net loss per share (in dollars per share)	(0.18)	(0.11)	(0.84)	(0.49)
Cash dividends declared per share (in dollars per share)	$ 0	$ 0	$ 0	$ 0

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Antidilutive Securities Excluded from Computation (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,815	2,042	1,907	2,063
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	315	542	407	563
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,500	1,500	1,500	1,500

Net Income (Loss) Per Common _5

Net Income (Loss) Per Common Share - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2023 $ / shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, minimum price range (in dollars per share)	$ 7.93
Anti dilutive securities excluded from computation of earnings per share, maximum price range (in dollars per share)	$ 25.16

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants term	2 years 10 months 24 days
Long-term debt, fair value	$ 167.2	$ 155.2
Debt, Long-Term and Short-Term, Combined Amount	$ 152.6	$ 152.7
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change-in-control put feature	3%	3%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change-in-control put feature		10%
Series D Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, exercise price of warrants or rights (in dollars per share)	$ 0.01
Liquidation preference	140%
Class of warrant or right, number of securities called by warrants or rights (in shares)	1,900
Series B Convertible Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Adjusted exercise price of warrants or rights (in dollars per share)	$ 11.03
Class of warrant or right, number of securities called by warrants or rights (in shares)	1,500
Term Loan Facility Member
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, exercise price of warrants or rights (in dollars per share)	$ 0.01
Class of warrant or right, number of securities called by warrants or rights (in shares)	2,000

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities Measure at Fair Value Preferred Stock (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ 7,313	$ 2,959
Fair Value, Inputs, Level 1 [Member] | Other Noncurrent Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability, fair value, gross liability	7,150	2,831
Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability, fair value, gross liability	0	0
Fair Value, Inputs, Level 3 [Member] | Other Noncurrent Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability, fair value, gross liability	$ 163	$ 128

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward of Preferred Stock Derivative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,959
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	2,712
Change in fair value	1,642
Ending balance	$ 7,313

Fair Value Measurements - Effec

Fair Value Measurements - Effect of Interest Rate Swap (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Interest expense	$ 5,739	$ 3,746	$ 15,484	$ 10,673
Interest Rate Swap
Derivative [Line Items]
Interest expense	$ (449)	$ (146)	$ (1,366)	$ (64)

Fair Value Measurements - Inter

Fair Value Measurements - Interest Rate Swap (Details) - Fair Value, Measurements, Recurring $ in Thousands	Dec. 31, 2022 USD ($)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset, Current	$ 0
Derivative Asset, Noncurrent	0
Derivative, Fair Value, Net	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset, Current	2,130
Derivative Asset, Noncurrent	1,023
Derivative, Fair Value, Net	3,153
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset, Current	0
Derivative Asset, Noncurrent	0
Derivative, Fair Value, Net	$ 0