2023 Q1 Form 10-K Financial Statement

#000095017023008269 Filed on March 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $26.00M $29.00M $112.9M
YoY Change 3.73% 1.7% 8.81%
Cost Of Revenue $16.79M $18.42M $71.97M
YoY Change 4.29% -3.55% 7.9%
Gross Profit $9.211M $10.58M $40.94M
YoY Change 2.73% 12.35% 10.46%
Gross Profit Margin 35.43% 36.48% 36.26%
Selling, General & Admin $9.045M $7.827M $31.16M
YoY Change 19.04% -12.59% 10.29%
% of Gross Profit 98.2% 73.98% 76.1%
Research & Development $2.707M $2.283M $9.916M
YoY Change 7.04% 7.84% 14.33%
% of Gross Profit 29.39% 21.58% 24.22%
Depreciation & Amortization $623.0K $599.0K $2.272M
YoY Change 211.5% 17.22% 15.27%
% of Gross Profit 6.76% 5.66% 5.55%
Operating Expenses $11.94M $10.11M $41.28M
YoY Change 19.59% -10.05% 7.45%
Operating Profit -$2.732M $470.0K -$333.0K
YoY Change 167.58% -125.8% -75.28%
Interest Expense -$50.00K $2.000K -$143.0K
YoY Change 100.0% -101.83% -70.39%
% of Operating Profit 0.43%
Other Income/Expense, Net
YoY Change
Pretax Income -$2.693M $402.0K -$291.0K
YoY Change 168.49% -120.23% -117.66%
Income Tax $26.00K $63.00K $101.0K
% Of Pretax Income 15.67%
Net Earnings -$2.719M $35.00K -$392.0K
YoY Change 172.17% -101.82% -124.2%
Net Earnings / Revenue -10.46% 0.12% -0.35%
Basic Earnings Per Share -$0.13 -$0.07
Diluted Earnings Per Share -$0.13 $0.00 -$0.07
COMMON SHARES
Basic Shares Outstanding 22.67M 22.51M 22.66M
Diluted Shares Outstanding 22.79M 22.66M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.80M $16.65M $16.65M
YoY Change -24.66% -41.69% -41.69%
Cash & Equivalents $20.80M $16.65M $16.65M
Short-Term Investments
Other Short-Term Assets $4.724M $4.664M $4.664M
YoY Change 26.07% 8.82% 8.82%
Inventory $30.61M $28.96M $28.96M
Prepaid Expenses
Receivables $21.14M $24.83M $24.83M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $77.27M $75.10M $75.10M
YoY Change 8.37% 3.26% 3.26%
LONG-TERM ASSETS
Property, Plant & Equipment $7.595M $6.719M $11.09M
YoY Change 74.96% 65.25% 80.24%
Goodwill $10.19M $10.19M
YoY Change -0.93% -0.76%
Intangibles
YoY Change
Long-Term Investments $348.0K $348.0K $348.0K
YoY Change 0.0%
Other Assets $1.148M $1.120M $1.120M
YoY Change 13.44% 4.67% 4.67%
Total Long-Term Assets $28.28M $27.67M $27.67M
YoY Change 19.81% 15.58% 15.58%
TOTAL ASSETS
Total Short-Term Assets $77.27M $75.10M $75.10M
Total Long-Term Assets $28.28M $27.67M $27.67M
Total Assets $105.6M $102.8M $102.8M
YoY Change 11.21% 6.31% 6.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.926M $14.76M $14.76M
YoY Change -12.43% 40.54% 40.54%
Accrued Expenses $6.242M $6.565M $6.565M
YoY Change -9.86% -18.39% -18.39%
Deferred Revenue $1.798M $2.068M
YoY Change 20.75% -3.95%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.941M
YoY Change
Total Short-Term Liabilities $27.91M $23.39M $23.39M
YoY Change 39.83% 12.21% 12.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $25.00K $25.00K $3.978M
YoY Change -66.22% -98.08% 205.3%
Total Long-Term Liabilities $25.00K $25.00K $3.978M
YoY Change -66.22% -98.08% 205.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.91M $23.39M $23.39M
Total Long-Term Liabilities $25.00K $25.00K $3.978M
Total Liabilities $31.95M $27.37M $27.37M
YoY Change 51.6% 23.57% 23.57%
SHAREHOLDERS EQUITY
Retained Earnings -$412.1M -$409.4M
YoY Change 0.52% 0.1%
Common Stock $24.00K $24.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.36M $12.17M
YoY Change 7.14% 9.33%
Treasury Stock Shares $1.569M $1.545M
Shareholders Equity $73.60M $75.39M $75.39M
YoY Change
Total Liabilities & Shareholders Equity $105.6M $102.8M $102.8M
YoY Change 11.21% 6.31% 6.31%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$2.719M $35.00K -$392.0K
YoY Change 172.17% -101.82% -124.2%
Depreciation, Depletion And Amortization $623.0K $599.0K $2.272M
YoY Change 211.5% 17.22% 15.27%
Cash From Operating Activities -$4.698M -$4.793M -$7.807M
YoY Change 13717.65% -491.91% -735.75%
INVESTING ACTIVITIES
Capital Expenditures $1.225M $894.0K $3.902M
YoY Change -340.2% -645.12% -286.97%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $30.00K
YoY Change -100.0% -95.09%
Cash From Investing Activities -$1.225M -$894.0K -$3.872M
YoY Change 152.06% 445.12% 162.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.752M -143.0K -1.039M
YoY Change -2544.11% -34.7% -105.37%
NET CHANGE
Cash From Operating Activities -4.698M -4.793M -7.807M
Cash From Investing Activities -1.225M -894.0K -3.872M
Cash From Financing Activities 9.752M -143.0K -1.039M
Net Change In Cash 4.030M -5.830M -12.67M
YoY Change -460.14% -794.05% -168.87%
FREE CASH FLOW
Cash From Operating Activities -$4.698M -$4.793M -$7.807M
Capital Expenditures $1.225M $894.0K $3.902M
Free Cash Flow -$5.923M -$5.687M -$11.71M
YoY Change -1344.33% -510.02% -453.21%

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RestrictedStockValueSharesIssuedNetOfTaxWithholdings
1201000
CY2021 inve Issuance Of Common Stock In Connection With Public Offering
IssuanceOfCommonStockInConnectionWithPublicOffering
37627000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
74512000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-392000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-848000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-3161000
CY2022 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
1039000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
75394000
CY2022 us-gaap Profit Loss
ProfitLoss
-392000
CY2021 us-gaap Profit Loss
ProfitLoss
1620000
CY2020 us-gaap Profit Loss
ProfitLoss
-5105000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2272000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1971000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3313000
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2562000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-41000
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2946000
CY2022 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
30000
CY2021 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
611000
CY2021 us-gaap Accretion Expense
AccretionExpense
43000
CY2020 us-gaap Accretion Expense
AccretionExpense
139000
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-68000
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
108000
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
497000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-3161000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-2606000
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-3027000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
281000
CY2020 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1294000
CY2020 inve Increase Decrease In Fair Value Of Earnout Liability
IncreaseDecreaseInFairValueOfEarnoutLiability
-261000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5051000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3572000
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
550000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9330000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-389000
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4105000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1210000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
570000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4073000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-441000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2455000
CY2021 inve Increase Decrease In Contractual Payment Obligation Liability
IncreaseDecreaseInContractualPaymentObligationLiability
-1083000
CY2020 inve Increase Decrease In Contractual Payment Obligation Liability
IncreaseDecreaseInContractualPaymentObligationLiability
-770000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
222000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
67000
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-467000
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1590000
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
246000
CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-622000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7807000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1228000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1766000
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3902000
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2087000
CY2020 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1564000
CY2022 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
30000
CY2021 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
611000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3872000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1476000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1564000
CY2021 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
3964000
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
3362000
CY2021 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
18548000
CY2020 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
3347000
CY2020 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
4500000
CY2020 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
4500000
CY2020 us-gaap Proceeds From Subordinated Short Term Debt
ProceedsFromSubordinatedShortTermDebt
4000000
CY2021 us-gaap Repayments Of Subordinated Short Term Debt
RepaymentsOfSubordinatedShortTermDebt
2800000
CY2020 us-gaap Repayments Of Subordinated Short Term Debt
RepaymentsOfSubordinatedShortTermDebt
1200000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37627000
CY2020 us-gaap Proceeds From Issuance Of Secured Tax Exempt Debt
ProceedsFromIssuanceOfSecuredTaxExemptDebt
2915000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1039000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1201000
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
890000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
299000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
13000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1039000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19341000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4853000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
48000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-695000
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
503000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12670000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18398000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2026000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29807000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11409000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9383000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17137000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29807000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11409000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
6000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
340000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
945000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
88000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
74000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
112000
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1206000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1148000
CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1094000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3646000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
183000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1676000
CY2021 inve Reclassification Of Debt Issuance Costs To Prepaid Expenses And Other Current Assets
ReclassificationOfDebtIssuanceCostsToPrepaidExpensesAndOtherCurrentAssets
114000
CY2020 inve Common Stock Issued To Settle Vendor Liability
CommonStockIssuedToSettleVendorLiability
304000
CY2020 inve Common Stock Issued To Settle Earnout Liability
CommonStockIssuedToSettleEarnoutLiability
489000
CY2020 inve Fair Value Of Warrants Issued In Connection With Financial Liabilities
FairValueOfWarrantsIssuedInConnectionWithFinancialLiabilities
332000
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. Description of Business</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Description of Business</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> — Identiv, Inc. and its wholly owned subsidiaries (the “Company”) is a global security technology company provider of secure identification and physical security solutions that secure things, data and physical places. Global organizations in the mobility, consumer, government, healthcare, education and other markets rely upon the Company’s solutions. The Company’s solutions allow its customers to create safe, secure, validated and convenient experiences in their interaction with physical things around them and physical places like schools, government offices, factories, transportation, hospitals and other types of facilities. The Company’s corporate headquarters are in Fremont, California. The Company maintains research and development facilities in California, India, and Germany and local operations and sales facilities in Germany, Hong Kong, Japan, Singapore, Canada, and the United States. The Company was founded in 1990 in Munich, Germany and was incorporated in 1996 under the laws of the State of Delaware.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Reclassifications</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> — Certain reclassifications have been made to the fiscal year 2021 consolidated financial statements to conform to the fiscal year 2022 presentation. The reclassifications had no impact on net income (loss), total assets, total liabilities, or stockholders’ equity.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
112915000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103769000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86920000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2433000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2366000
CY2022 inve Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
2241000
CY2021 inve Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
1905000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> — The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The Company believes judgment is involved in determining revenue recognition; impairment of goodwill and intangible assets; the recoverability of long-lived assets; stock-based compensation expense; and income tax uncertainties. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ materially from those estimates and assumptions.</span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> — Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with what it considers high credit quality financial institutions. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">No</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer accounted for 10% or more of net revenue for the years ended </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022 , 2021 or 2020</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, respectively. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">No</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer accounted for 10% or more of the Company’s accounts receivable, net balance as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022 or 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> The Company does not require collateral or other security to support accounts receivable. To reduce risk, the Company’s management performs ongoing credit evaluations of its customers’ financial condition. The Company maintains allowances for potential credit losses in its consolidated financial statements. The Company relies upon a limited number of suppliers for some key components of their products which exposes them to various risks. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">One</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> supplier accounted for </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">11</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of the Company's accounts payable as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, while </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> supplier accounted for 10% or more of the Company’s accounts payable balance as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span></span></p>
CY2022 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
No customer accounted for 10% or more of net revenue for the years ended December 31, 2022 , 2021 or 2020, respectively. No customer accounted for 10% or more of the Company’s accounts receivable, net balance as of December 31, 2022 or 2021.
CY2022 inve Number Of Customer Accounts For More Than Minimum Threshold Percentage Of Revenue
NumberOfCustomerAccountsForMoreThanMinimumThresholdPercentageOfRevenue
0
CY2021 inve Number Of Customer Accounts For More Than Minimum Threshold Percentage Of Revenue
NumberOfCustomerAccountsForMoreThanMinimumThresholdPercentageOfRevenue
0
CY2022 inve Number Of Customer Accounts For More Than Minimum Threshold Percentage Of Accounts Receivable
NumberOfCustomerAccountsForMoreThanMinimumThresholdPercentageOfAccountsReceivable
0
CY2021 inve Number Of Customer Accounts For More Than Minimum Threshold Percentage Of Accounts Receivable
NumberOfCustomerAccountsForMoreThanMinimumThresholdPercentageOfAccountsReceivable
0
CY2022 us-gaap Concentration Risk Supplier
ConcentrationRiskSupplier
One supplier accounted for 11% of the Company's accounts payable as of December 31, 2022, while no supplier accounted for 10% or more of the Company’s accounts payable balance as of December 31, 2021.
CY2022 inve Number Of Supplier Accounted For More Than Minimum Threshold Percentage Of Accounts Payable
NumberOfSupplierAccountedForMoreThanMinimumThresholdPercentageOfAccountsPayable
1
CY2021 inve Number Of Supplier Accounted For More Than Minimum Threshold Percentage Of Accounts Payable
NumberOfSupplierAccountedForMoreThanMinimumThresholdPercentageOfAccountsPayable
0
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2019000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1838000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2655000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2433000
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2020 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
900000
CY2022Q4 inve Revenue Remaining Performance Obligation Expected Percentage Of Satisfaction
RevenueRemainingPerformanceObligationExpectedPercentageOfSatisfaction
0.39
CY2022Q4 inve Revenue Remaining Performance Obligation Expected Percentage Of Satisfaction
RevenueRemainingPerformanceObligationExpectedPercentageOfSatisfaction
0.26
CY2022Q4 inve Revenue Remaining Performance Obligation Expected Percentage Of Satisfaction
RevenueRemainingPerformanceObligationExpectedPercentageOfSatisfaction
0.35
CY2022 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
30000
CY2022Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
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515000
CY2021Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
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303000
CY2022 us-gaap Capitalized Computer Software Additions
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103000000
CY2021 us-gaap Capitalized Computer Software Additions
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84000000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Realized
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200000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Realized
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-100000
CY2020 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
100000
CY2021 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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611000
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure
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0
CY2020Q4 us-gaap Goodwill
Goodwill
10266000
CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
2000
CY2021Q4 us-gaap Goodwill
Goodwill
10268000
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-78000
CY2022Q4 us-gaap Goodwill
Goodwill
10190000
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
25602000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
20337000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5265000
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FiniteLivedIntangibleAssetsGross
25665000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19220000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6445000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2020 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022 us-gaap Amortization Of Intangible Assets
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1117000
CY2021 us-gaap Amortization Of Intangible Assets
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1124000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2565000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1030000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
956000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
956000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
956000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
956000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
411000
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FiniteLivedIntangibleAssetsNet
5265000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
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13333000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
7182000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
55000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15570000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12742000
CY2022Q4 us-gaap Inventory Net
InventoryNet
28958000
CY2021Q4 us-gaap Inventory Net
InventoryNet
19924000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18696000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18208000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11977000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14142000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6719000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4066000
CY2022 us-gaap Depreciation
Depreciation
1200000
CY2021 us-gaap Depreciation
Depreciation
800000
CY2020 us-gaap Depreciation
Depreciation
700000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2837000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1289000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-291000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1648000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5032000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
574000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
576000
CY2022Q4 inve Accrued Restructuring Costs Current
AccruedRestructuringCostsCurrent
24000
CY2021Q4 inve Accrued Restructuring Costs Current
AccruedRestructuringCostsCurrent
294000
CY2022Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
345000
CY2021Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
377000
CY2021Q4 us-gaap Accrued Rent Current
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922000
CY2022Q4 inve Other Accrued Expenses Current
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1675000
CY2021Q4 inve Other Accrued Expenses Current
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1605000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2618000
CY2021Q4 us-gaap Other Accrued Liabilities Current
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3774000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-2710000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-1189000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-6321000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2419000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-24000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-15000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
98000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
52000
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
88000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
101000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
28000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
73000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
101000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
73000
CY2022Q4 inve Deferred Tax Assets Allowances Nondeductible For Tax Purposes
DeferredTaxAssetsAllowancesNondeductibleForTaxPurposes
777000
CY2021Q4 inve Deferred Tax Assets Allowances Nondeductible For Tax Purposes
DeferredTaxAssetsAllowancesNondeductibleForTaxPurposes
978000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
41730000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
44068000
CY2022Q4 inve Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
1018000
CY2021Q4 inve Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
312000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
16407000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
16433000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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1471000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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1487000
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2090000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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1961000
CY2022Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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62441000
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3497000
CY2021Q4 us-gaap Deferred Tax Assets Net
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2798000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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867000
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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925000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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693000
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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10000
CY2022Q4 inve Deferred Tax Liabilities State Income Taxes
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1937000
CY2021Q4 inve Deferred Tax Liabilities State Income Taxes
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1863000
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3497000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
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2798000
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60000000.0
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62400000
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42000
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62699000
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459000
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1142000
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-2445000
CY2021 inve Valuation Allowance Deferred Tax Asset Decrease In Amount
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2500000
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345000
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CY2022 inve Income Tax Reconciliation Tax Cuts And Jobs Act Of2017 Section95 A Inclusion
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428000
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523000
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274000
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