Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 4,236 $ 9,358
Investments 7,939 8,856
Accounts receivable, net 18,296 18,092
Inventory 7,656 5,389
Prepaid corporate taxes 67 28
Prepaid expenses 2,570 2,308
Deposits 945 423
Other current assets 117 455
Total current assets 42,228 45,482
Property and equipment, net 1,684 1,701
OTHER ASSETS:    
Intangible assets - customer lists, net 4,040 4,170
Intangible assets - trade name 654 654
Goodwill 2,321 2,321
Other assets 23
Right of use asset - office leases 1,234 797
Total other assets 8,249 7,965
Total assets 52,161 55,148
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 8,993 8,919
Accrued payroll and related 1,531 1,513
Unearned revenue 6,410 4,423
Rewards program liability 875 6,000
Sales tax payable 378 353
Current portion of contingent earn-out liabilities 256 256
Current portion of installment payment liabilities 337 365
Current portion of lease liability 455 366
Total current liabilities 19,235 22,195
LONG-TERM LIABILITIES:    
Long-term contingent earn-out liabilities 455 455
Long-term installment payment liabilities 425 425
Long-term lease liability 774 432
Total long-term liabilities 1,654 1,312
Total liabilities 20,889 23,507
Commitments and contingencies (Note K)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.0001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively
Common stock, $0.0001 par value; 300,000,000 shares authorized, 18,608,407 and 18,598,574 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 38,400 38,391
Accumulated deficit (7,135) (6,742)
Accumulated other comprehensive loss 5 (10)
Total stockholders’ equity 31,272 31,641
Total liabilities and stockholders’ equity 52,161 55,148
Related Party    
CURRENT ASSETS:    
Accounts receivable - related parties, net $ 402 $ 573