Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 13,070 $ 9,358
Investments 4,997 8,856
Accounts receivable, net 22,063 18,092
Inventory 6,736 5,389
Prepaid corporate taxes 28
Prepaid expenses 2,391 2,308
Deposits 467 423
Other current assets 4 455
Total current assets 50,130 45,482
Property and equipment, net 1,618 1,701
OTHER ASSETS:    
Intangible assets - customer lists, net 3,934 4,170
Intangible assets - trade name 654 654
Goodwill 2,321 2,321
Other assets 222 23
Right of use assets 2,336 797
Total other assets 9,467 7,965
Total assets 61,215 55,148
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 9,513 8,919
Accrued payroll and related 2,044 1,513
Unearned revenue 4,817 4,423
Rewards program liability 9,000 6,000
Sales tax payable 315 353
Corporate taxes payable 9
Current portion of contingent earn-out liabilities 105 256
Current portion of installment payment liabilities 158 365
Current portion of lease liabilities 661 366
Total current liabilities 26,622 22,195
LONG-TERM LIABILITIES:    
Long-term contingent earn-out liabilities 455 455
Long-term installment payment liabilities 425 425
Long-term lease liabilities 1,880 432
Total long-term liabilities 2,760 1,312
Total liabilities 29,382 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 June 30, 2025 and December 31, 2024, respectively
Common stock, $0.0001 par value; 300,000,000 shares authorized, 18,546,461 and 18,598,574 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 38,285 38,391
Accumulated deficit (6,492) (6,742)
Accumulated other comprehensive income (loss) 38 (10)
Total stockholders’ equity 31,833 31,641
Total liabilities and stockholders’ equity 61,215 55,148
Related Party    
CURRENT ASSETS:    
Accounts receivable - related parties, net $ 402 $ 573