| Details of Certain Financial Statement Components |
Note 2 – Details of Certain Financial Statement Components The following tables provide details of selected balance sheet items: | | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | Accounts receivable, net | | (in thousands) | Accounts receivable, gross | | $ | 2,202 | | $ | 1,593 | Allowance for expected credit losses | | | (54) | | | (51) | Accounts receivable, net | | $ | 2,148 | | $ | 1,542 |
| | | | | | | | | Six Months | | Six Months | | | Ended | | Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | Allowance for expected credit losses | | (in thousands) | Balance, beginning of period | | $ | 51 | | $ | 34 | Provisions for expected credit losses, net of recoveries | | | 4 | | | 8 | Foreign currency exchange rate changes | | | (1) | | | 4 | Balance, end of period | | $ | 54 | | $ | 46 |
| | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | Inventories | | (in thousands) | Raw materials | | $ | 1,377 | | $ | 1,344 | Work-in-process | | | 194 | | | 204 | Finished goods | | | 228 | | | 253 | Total inventories | | $ | 1,799 | | $ | 1,801 |
| | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | Property, plant and equipment, net | | (in thousands) | Furniture, machinery and equipment | | $ | 2,253 | | $ | 2,243 | Leasehold improvements | | | 535 | | | 527 | | | | 2,788 | | | 2,770 | Less: accumulated depreciation | | | (2,409) | | | (2,296) | Total property, plant and equipment, net | | $ | 379 | | $ | 474 |
Depreciation expense totaled $45,000 and $48,000 for the three months ended June 30, 2026 and 2025, respectively. Depreciation expense totaled $92,000 and $95,000 for the six months ended June 30, 2026 and 2025, respectively. | | | | | | | | | | | | | | | | | | | | | | | Weighted | | June 30, 2026 | | December 31, 2025 | | | Average | | Gross | | | | | Net | | Gross | | | | | Net | | | Amortization | | Carrying | | Accumulated | | Carrying | | Carrying | | Accumulated | | Carrying | | | Period | | Amount | | Amortization | | Amount | | Amount | | Amortization | | Amount | | Intangible assets, net | | | | (in thousands) | Patents, tradenames, and trademarks | | 5 Years | | $ | 943 | | $ | (835) | | $ | 108 | | $ | 948 | | $ | (817) | | $ | 131 | Developed technology | | 3.5 Years | | | 645 | | | (550) | | | 95 | | | 654 | | | (504) | | | 150 | Customer relationships | | 6 Years | | | 1,497 | | | (865) | | | 632 | | | 1,525 | | | (761) | | | 764 | Non-compete agreements | | 4 Years | | | 963 | | | (797) | | | 166 | | | 981 | | | (693) | | | 288 | Total intangible assets, net | | | | $ | 4,048 | | $ | (3,047) | | $ | 1,001 | | $ | 4,108 | | $ | (2,775) | | $ | 1,333 |
Amortization expense totaled $141,000 and $184,000 for the three months ended June 30, 2026 and 2025, respectively. Amortization expense totaled $313,000 and $356,000 for the six months ended June 30, 2026 and 2025, respectively. Future remaining amortization expense is as follows: | | | | Years ending December 31, | | (in thousands) | 2026 (remainder of year) | | $ | 278 | 2027 | | | 369 | 2028 | | | 285 | 2029 | | | 69 | | | $ | 1,001 |
The changes in the carrying amount of goodwill for the periods ended June 30, 2026 and 2025 are as follows: | | | | | | (in thousands) | Balance as of January 1, 2026 | | $ | 2,586 | Adjustment to goodwill, foreign currency exchange rate changes | | | (44) | Balance as of June 30, 2026 | | $ | 2,542 |
| | | | | | (in thousands) | Balance as of January 1, 2025 | | $ | 2,658 | Adjustment to goodwill, acquisition price allocation of Conductive Transfers | | | (232) | Adjustment to goodwill, foreign currency exchange rate changes | | | 200 | Balance as of June 30, 2025 | | $ | 2,626 |
Accrued liabilities consisted of the following: | | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | Accrued liabilities | | (in thousands) | Accrued wages and benefits | | $ | 142 | | $ | 185 | Accrued vacation | | | 131 | | | 113 | Other accrued liabilities | | | 25 | | | 32 | Total accrued liabilities | | $ | 298 | | $ | 330 |
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