Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 6,697 $ 9,358
Investments 5,058 8,856
Accounts receivable, net 16,626 18,092
Inventory 7,740 5,389
Prepaid corporate taxes 63 28
Prepaid expenses 2,163 2,308
Deposits 580 423
Other current assets 2 455
Total current assets 39,331 45,482
Property and equipment, net 1,952 1,701
OTHER ASSETS:    
Intangible assets - customer lists, net 3,812 4,170
Intangible assets - trade name 654 654
Goodwill 2,321 2,321
Other assets 23
Right of use assets 2,192 797
Total other assets 8,979 7,965
Total assets 50,262 55,148
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 7,462 8,919
Accrued payroll and related 1,605 1,513
Unearned revenue 4,159 4,423
Rewards program liability 2,951 6,000
Sales tax payable 251 353
Current portion of contingent earn-out liabilities 105 256
Current portion of installment payment liabilities 170 365
Current portion of lease liabilities 615 366
Total current liabilities 17,318 22,195
LONG-TERM LIABILITIES:    
Long-term contingent earn-out liabilities 455 455
Long-term installment payment liabilities 400 425
Long-term lease liabilities 1,861 432
Other liabilities 32
Total long-term liabilities 2,748 1,312
Total liabilities 20,066 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 September 30, 2025 and December 31, 2024, respectively
Common stock, $0.0001 par value; 300,000,000 shares authorized, 18,288,158 and 18,598,574 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 37,902 38,391
Accumulated deficit (7,732) (6,742)
Accumulated other comprehensive income (loss) 24 (10)
Total stockholders’ equity 30,196 31,641
Total liabilities and stockholders’ equity 50,262 55,148
Related Parties    
CURRENT ASSETS:    
Accounts receivable - related parties, net $ 402 $ 573