Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 867 $ (13,598)
Income (loss) from discontinued operations, net of tax 6,451 (1,021)
Net loss from continuing operations (5,584) (12,577)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation expense 3,574 3,884
Amortization expense 612 695
Amortization of debt issuance costs 258 105
Asset impairments 1,622 0
Deferred income taxes 22 1,806
(Reduction of) provision for losses on accounts receivable (569) 51
Loss on disposal of property, plant and equipment 1 289
Non-cash lease expense 128 111
Gain on lease modification (2,278) (67)
Share-based compensation expense 1,302 760
Changes in operating assets and liabilities:    
Accounts receivable and advances (2,576) 2,762
Inventories (3,015) 5,039
Other assets and liabilities (521) (160)
Accounts payable (1,565) (3,246)
Accrued expenses 1,469 40
Accrued income taxes (149) 1,485
Net cash (used in) provided by operating activities - continuing operations (7,269) 977
Net cash provided by operating activities - discontinued operations 6,750 13,704
Net cash (used in) provided by operating activities (519) 14,681
Cash flows from investing activities:    
Purchases of property, plant and equipment (1,544) (1,120)
Net cash used in investing activities - continuing operations (1,544) (1,120)
Net cash provided by investing activities - discontinued operations 52,525 2,025
Net cash provided by investing activities 50,981 905
Cash flows from financing activities:    
Borrowings from credit facilities 137,075 197,898
Proceeds from note payable 1,085 914
Proceeds from exercise of stock options 415 0
Payments on credit facilities (137,075) (197,898)
Payments on note payable (1,021) (906)
Principal payments on finance lease obligations (287) (289)
Repurchase of common stock (9,137) (1,037)
Net cash used in financing activities - continuing operations (8,945) (1,318)
Net cash used in financing activities - discontinued operations (19) (11)
Net cash used in financing activities (8,964) (1,329)
Increase in cash and cash equivalents 41,498 14,257
Cash and cash equivalents of discontinued operations 0 10
Cash and cash equivalents, beginning of period 16,108 1,841
Cash and cash equivalents, end of period 57,606 16,108
Supplemental Disclosure of Cash Flow Information    
Interest 174 277
Noncash Investing Activities:    
Capital expenditures, not yet paid $ 204 $ 267