2024 Q1 Form 10-K Financial Statement

#000095017024030883 Filed on March 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $55.85M $99.54M $258.1M
YoY Change 8.56% -1.35% 7.48%
Cost Of Revenue $38.06M $67.73M $182.6M
YoY Change 2.03% -16.26% -4.38%
Gross Profit $17.79M $31.80M $75.50M
YoY Change 25.79% 58.88% 53.5%
Gross Profit Margin 31.85% 31.95% 29.25%
Selling, General & Admin $14.69M $18.98M $74.81M
YoY Change -11.15% -13.38% -6.07%
% of Gross Profit 82.58% 59.67% 99.08%
Research & Development $3.902M $4.467M $17.14M
YoY Change -4.85% 3.04% -10.39%
% of Gross Profit 21.94% 14.05% 22.7%
Depreciation & Amortization $916.0K $1.166M $3.800M
YoY Change -6.34% -13.76% -17.39%
% of Gross Profit 5.15% 3.67% 5.03%
Operating Expenses $23.50M $23.45M $91.95M
YoY Change 13.9% -10.67% -6.91%
Operating Profit -$5.713M $8.359M -$16.44M
YoY Change -12.0% -234.26% -66.84%
Interest Expense -$150.0K -$251.0K $504.0K
YoY Change -192.02% -56.5% -141.31%
% of Operating Profit -3.0%
Other Income/Expense, Net -$370.0K $405.0K -$394.0K
YoY Change 208.33% -82.62% -77.52%
Pretax Income -$6.233M $8.513M -$17.34M
YoY Change -8.0% -233.66% -68.15%
Income Tax -$6.388M -$39.00K $338.0K
% Of Pretax Income -0.46%
Net Earnings $155.0K $8.552M -$17.68M
YoY Change -102.31% -136.81% -70.31%
Net Earnings / Revenue 0.28% 8.59% -6.85%
Basic Earnings Per Share $0.01 $0.49 -$1.03
Diluted Earnings Per Share $0.01 $0.47 -$1.03
COMMON SHARES
Basic Shares Outstanding 17.61M 17.40M 17.14M
Diluted Shares Outstanding 19.39M 17.14M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.82M $18.73M $18.73M
YoY Change -13.4% 64.32% 64.32%
Cash & Equivalents $17.82M $18.73M $18.73M
Short-Term Investments
Other Short-Term Assets $10.32M $7.720M $7.720M
YoY Change 13.33% -16.05% -16.05%
Inventory $69.53M $44.02M $44.02M
Prepaid Expenses
Receivables $42.91M $54.39M $54.39M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $140.6M $124.9M $124.9M
YoY Change 18.28% -7.64% -7.64%
LONG-TERM ASSETS
Property, Plant & Equipment $5.533M $4.824M $11.83M
YoY Change -9.94% -24.17% 85.95%
Goodwill $52.91M $10.69M
YoY Change 395.11% 0.0%
Intangibles $48.70M $1.734M
YoY Change 1871.02% -33.61%
Long-Term Investments
YoY Change
Other Assets $1.239M $862.0K $862.0K
YoY Change 110.36% -89.91% -89.91%
Total Long-Term Assets $117.8M $25.11M $25.11M
YoY Change 325.9% -10.97% -10.97%
TOTAL ASSETS
Total Short-Term Assets $140.6M $124.9M $124.9M
Total Long-Term Assets $117.8M $25.11M $25.11M
Total Assets $258.4M $150.0M $150.0M
YoY Change 76.36% -8.21% -8.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.84M $26.91M $26.91M
YoY Change 104.88% 35.58% 35.58%
Accrued Expenses $28.42M $24.22M $24.22M
YoY Change 4.54% 13.84% 13.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $76.79M $56.33M $56.33M
YoY Change 47.93% -12.44% -12.44%
LONG-TERM LIABILITIES
Long-Term Debt $45.95M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.893M $7.012M $7.012M
YoY Change 15.45% -12.76% -12.76%
Total Long-Term Liabilities $54.85M $7.012M $7.012M
YoY Change 612.02% -12.76% -12.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.79M $56.33M $56.33M
Total Long-Term Liabilities $54.85M $7.012M $7.012M
Total Liabilities $133.2M $64.89M $64.89M
YoY Change 115.66% -12.84% -12.84%
SHAREHOLDERS EQUITY
Retained Earnings -$134.1M -$134.3M
YoY Change 8.77% 15.16%
Common Stock $21.00K $18.00K
YoY Change 23.53% 5.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $125.2M $85.08M $85.08M
YoY Change
Total Liabilities & Shareholders Equity $258.4M $150.0M $150.0M
YoY Change 76.36% -8.21% -8.21%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $155.0K $8.552M -$17.68M
YoY Change -102.31% -136.81% -70.31%
Depreciation, Depletion And Amortization $916.0K $1.166M $3.800M
YoY Change -6.34% -13.76% -17.39%
Cash From Operating Activities $27.26M $19.10M $27.04M
YoY Change -5.97% -30.99% -164.63%
INVESTING ACTIVITIES
Capital Expenditures $731.0K $235.0K $2.159M
YoY Change -17.59% -85.79% -39.17%
Acquisitions $75.49M
YoY Change
Other Investing Activities -$75.49M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$76.23M -$235.0K -$2.159M
YoY Change 8493.57% -85.79% -39.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $974.0K
YoY Change 49.16%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 47.98M -12.72M -17.85M
YoY Change -352.44% -50.2% -190.56%
NET CHANGE
Cash From Operating Activities 27.26M 19.10M 27.04M
Cash From Investing Activities -76.23M -235.0K -2.159M
Cash From Financing Activities 47.98M -12.72M -17.85M
Net Change In Cash -910.0K 6.147M 7.330M
YoY Change -109.92% 1170.04% -128.53%
FREE CASH FLOW
Cash From Operating Activities $27.26M $19.10M $27.04M
Capital Expenditures $731.0K $235.0K $2.159M
Free Cash Flow $26.53M $18.87M $24.89M
YoY Change -5.61% -27.5% -154.82%

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-1896000
CY2021 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1928000
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5757000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4845000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9682000
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-27336000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-22100000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
32240000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1772000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-23350000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2793000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1437000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-6045000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6091000
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-283000
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
727000
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-5571000
CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1860000
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-8690000
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
6775000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
27044000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41846000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-327000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2159000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3549000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5621000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2500000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2159000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3549000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8121000
CY2023 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
210210000
CY2022 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
91945000
CY2021 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
120858000
CY2023 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
229263000
CY2022 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
72892000
CY2021 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
120858000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2261000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
653000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5289000
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
974000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4882000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
463000
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
80000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17846000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19706000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56000
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
291000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-635000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-457000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7330000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26324000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8961000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11396000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37720000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46681000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18726000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11396000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37720000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
500000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
979000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
194000
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
63000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-2380000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6561000
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
133000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
390000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1189000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
116399000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
17721000
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-462000
CY2021 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
111000
CY2021 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
463000
CY2021 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4882000
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5289000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7656000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
141369000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-59546000
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1521000
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
655000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7984000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
88941000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-17679000
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
545000
CY2023 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
974000
CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2261000
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11983000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85077000
CY2023 us-gaap Advertising Expense
AdvertisingExpense
3900000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
4900000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Uses of Estimates</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to use estimates and assumptions that affect the reported amount of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The significant estimates and assumptions used by management affect: sales return reserve, allowances for cash discounts, warranty reserve, valuation of inventory, valuation of long-lived assets, goodwill and other intangible assets, depreciation and amortization of long-lived assets, valuation of deferred tax assets, probability of performance shares vesting and forfeiture rates utilized in issuing stock-based compensation awards. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the consolidated financial statements.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 hear Allowance For Cash Discounts
AllowanceForCashDiscounts
28600000
CY2022Q4 hear Allowance For Cash Discounts
AllowanceForCashDiscounts
29500000
CY2023Q4 hear Allowance For Sales Returns
AllowanceForSalesReturns
8400000
CY2022Q4 hear Allowance For Sales Returns
AllowanceForSalesReturns
7800000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
9700000
CY2023 us-gaap Cooperative Advertising Expense
CooperativeAdvertisingExpense
5600000
CY2022 us-gaap Cooperative Advertising Expense
CooperativeAdvertisingExpense
4100000
CY2021 us-gaap Cooperative Advertising Expense
CooperativeAdvertisingExpense
7600000
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q4 us-gaap Nonfinancial Liabilities Fair Value Disclosure
NonfinancialLiabilitiesFairValueDisclosure
0
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of investments in cash, cash equivalents and accounts receivables. The Company is exposed to credit risk and liquidity risk in the event of default by the financial institutions or issuers of investments in excess of FDIC insured limits. The Company performs periodic evaluations of the relative credit standing of these financial institutions and limits the amount of credit exposure with any institution.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Accounts receivable are unsecured and represent amounts due based on contractual obligations of customers. The Company's </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">five</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> largest individual customers accounted for approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">69</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of our gross sales in 2023, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">67</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of our gross sales in 2022, and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">66</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#ff0000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">of our gross sales in 2021. During 2023, the Company's </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">four</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> largest customers - Walmart, Target, Amazon, Best Buy - each accounted for between </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">25</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of consolidated gross sales. Additionally, as of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">December 31, 2023, these customers had open receivables greater than 10% of the total receivable balance.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentrations of credit risk with respect to accounts receivable are mitigated by performing ongoing credit evaluations of customers to assess the probability of collection based on a number of factors, including past transaction experience with the customer, evaluation of their credit history, limiting the credit extended, and review of the invoicing terms of the contract. In addition, the Company has credit insurance in place through a third-party insurer against defaults by certain other domestic and international customers, subject to policy limits. The Company generally does not require customers to provide collateral to support accounts receivable. The Company has recorded an allowance for doubtful accounts for those receivables that were determined not to be collectible.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Foreign cash balances at December 31, 2023 and 2022 were </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">8.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">6.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively.</span></p>
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
43579000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
70407000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
440000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
845000
CY2023Q4 us-gaap Inventory Net
InventoryNet
44019000
CY2022Q4 us-gaap Inventory Net
InventoryNet
71252000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35740000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33812000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
30916000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27450000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4824000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6362000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3800000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4600000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4100000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3944000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4171000
CY2023Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
3335000
CY2022Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
4147000
CY2023Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
5275000
CY2022Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
2527000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5206000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4159000
CY2023Q4 hear Accrued Freight Current
AccruedFreightCurrent
2917000
CY2022Q4 hear Accrued Freight Current
AccruedFreightCurrent
1746000
CY2023Q4 hear Accrued Expenses Current
AccruedExpensesCurrent
8747000
CY2022Q4 hear Accrued Expenses Current
AccruedExpensesCurrent
8683000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
29424000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
25433000
CY2021 hear Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
1928000
CY2023 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-394000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-1753000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-1827000
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-394000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1753000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
101000
CY2023Q4 hear Finite Lived Intangible Assets Foreign Currency Gross
FiniteLivedIntangibleAssetsForeignCurrencyGross
1159000
CY2023Q4 hear Finite Lived Intangible Assets Foreign Currency Accumulated Amortization
FiniteLivedIntangibleAssetsForeignCurrencyAccumulatedAmortization
1292000
CY2023Q4 hear Finite Lived Intangible Assets Foreign Currency Net
FiniteLivedIntangibleAssetsForeignCurrencyNet
-133000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
11876000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10142000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1734000
CY2022Q4 hear Finite Lived Intangible Assets Foreign Currency Gross
FiniteLivedIntangibleAssetsForeignCurrencyGross
1375000
CY2022Q4 hear Finite Lived Intangible Assets Foreign Currency Accumulated Amortization
FiniteLivedIntangibleAssetsForeignCurrencyAccumulatedAmortization
1344000
CY2022Q4 hear Finite Lived Intangible Assets Foreign Currency Net
FiniteLivedIntangibleAssetsForeignCurrencyNet
31000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
11660000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9048000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2612000
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
1900000
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000000.0
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1200000
CY2021 us-gaap Amortization Of Intangible Assets
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1300000
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1006000
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425000
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170000
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600000
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CY2021 us-gaap Interest Expense Debt
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CY2022 us-gaap Amortization Of Financing Costs
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200000
CY2021 us-gaap Amortization Of Financing Costs
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Federal Income Tax Expense Benefit Continuing Operations
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CY2021 us-gaap Current State And Local Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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CY2022 us-gaap Current Foreign Tax Expense Benefit
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255000
CY2021 us-gaap Current Foreign Tax Expense Benefit
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1051000
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2023 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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848000
CY2022 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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165000
CY2021 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
1123000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
338000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5093000
CY2021 us-gaap Income Tax Expense Benefit
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15146000
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2775000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-506000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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5003000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-17341000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-54453000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20149000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-3642000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-11435000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
4231000
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-385000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-2098000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
812000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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135000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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90000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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2850000
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18353000
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287000
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CY2021 hear Effective Income Tax Rate Reconciliation Excess Tax Benefits
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976000
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-96000
CY2021 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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-770000
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558000
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
400000
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
878000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
EffectiveIncomeTaxRateReconciliationGiltiAmount
858000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
EffectiveIncomeTaxRateReconciliationGiltiAmount
325000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
EffectiveIncomeTaxRateReconciliationGiltiAmount
530000
CY2023 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
-330000
CY2022 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
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CY2021 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
673000
CY2023 hear Income Tax Reconciliation Section162m
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1237000
CY2022 hear Income Tax Reconciliation Section162m
IncomeTaxReconciliationSection162m
395000
CY2021 hear Income Tax Reconciliation Section162m
IncomeTaxReconciliationSection162m
634000
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CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
477000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
391000
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338000
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IncomeTaxExpenseBenefit
5093000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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897000
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1402000
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1268000
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2789000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
2254000
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1573000
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8372000
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7354000
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6154000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
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3835000
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1754000
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1501000
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
311000
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
470000
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1376000
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852000
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21635000
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18741000
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22094000
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19244000
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459000
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503000
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18400000
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2800000
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3002000
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3415000
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128000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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150000
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158000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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32000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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321000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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814000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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400000
CY2023Q4 us-gaap Unrecognized Tax Benefits
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2284000
CY2022Q4 us-gaap Unrecognized Tax Benefits
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3002000
CY2023 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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100000
CY2022 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
300000
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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300000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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16450000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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15915000
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1348000
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550000
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17135000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16450000
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CY2021 us-gaap Earnings Per Share Diluted
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2778000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3118000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023 hear Share Based Compensation Arrangement By Share Based Payment Award Plan Amendment
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