$MASS
908 Devices Inc.

2023 Q1 Form 10-K Financial Statement

#000155837023003887 Filed on March 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $9.487M $11.64M $46.85M
YoY Change 14.22% -26.5% 11.01%
Cost Of Revenue $5.103M $5.721M $20.83M
YoY Change 22.17% -14.7% 9.78%
Gross Profit $4.384M $5.922M $26.02M
YoY Change 6.18% -35.17% 12.01%
Gross Profit Margin 46.21% 50.86% 55.54%
Selling, General & Admin $12.00M $11.60M $43.88M
YoY Change 23.17% 30.07% 36.12%
% of Gross Profit 273.79% 195.85% 168.62%
Research & Development $5.398M $4.662M $17.50M
YoY Change 38.23% 24.49% 33.93%
% of Gross Profit 123.13% 78.72% 67.25%
Depreciation & Amortization $634.0K $577.0K $1.614M
YoY Change 137.45% 99.65% 79.33%
% of Gross Profit 14.46% 9.74% 6.2%
Operating Expenses $17.40M $16.26M $61.41M
YoY Change 27.48% 28.42% 35.55%
Operating Profit -$13.02M -$10.34M -$35.38M
YoY Change 36.72% 193.03% 60.32%
Interest Expense $551.0K $1.970M $129.0K
YoY Change 2655.0% -5025.0% -73.46%
% of Operating Profit
Other Income/Expense, Net $485.0K $547.0K $1.819M
YoY Change 357.55% 431.07% -1919.0%
Pretax Income -$12.53M -$9.791M -$33.56M
YoY Change 33.11% 182.57% 51.4%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$12.50M -$9.791M -$33.60M
YoY Change 32.77% 182.57% 51.35%
Net Earnings / Revenue -131.76% -84.09% -71.72%
Basic Earnings Per Share -$0.39 -$1.07
Diluted Earnings Per Share -$0.39 -$0.31 -$1.07
COMMON SHARES
Basic Shares Outstanding 32.05M 31.71M 31.49M
Diluted Shares Outstanding 31.97M 31.49M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $161.2M $188.4M $188.4M
YoY Change -27.75% -15.91% -15.91%
Cash & Equivalents $161.2M $188.4M $188.4M
Short-Term Investments
Other Short-Term Assets $5.188M $4.658M $4.658M
YoY Change 32.75% 2.89% 2.89%
Inventory $13.37M $12.51M $12.51M
Prepaid Expenses
Receivables $8.173M $10.03M $10.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $187.9M $215.6M $215.6M
YoY Change -22.65% -14.74% -14.74%
LONG-TERM ASSETS
Property, Plant & Equipment $3.045M $3.083M $7.039M
YoY Change 39.87% 92.33% 3.74%
Goodwill $10.22M $10.05M
YoY Change
Intangibles $8.412M $8.488M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.205M $1.384M $1.384M
YoY Change 2.12% 12.7% 12.7%
Total Long-Term Assets $30.46M $26.96M $26.96M
YoY Change 269.55% 236.47% 236.47%
TOTAL ASSETS
Total Short-Term Assets $187.9M $215.6M $215.6M
Total Long-Term Assets $30.46M $26.96M $26.96M
Total Assets $218.4M $242.6M $242.6M
YoY Change -13.06% -7.02% -7.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.735M $1.397M $10.24M
YoY Change -19.75% 1.9% 647.19%
Accrued Expenses $7.228M $8.847M $1.468M
YoY Change 66.16% 27.09% -82.32%
Deferred Revenue $7.998M $7.514M
YoY Change 38.4% 45.62%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.66M $19.23M $19.23M
YoY Change 36.53% 29.59% 29.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $15.00M $15.00M
YoY Change -100.0% 0.0% 0.0%
Other Long-Term Liabilities $125.0K $555.0K $17.76M
YoY Change -99.21% -96.63% 7.87%
Total Long-Term Liabilities $125.0K $15.56M $32.76M
YoY Change -99.17% 3.7% 4.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.66M $19.23M $19.23M
Total Long-Term Liabilities $125.0K $15.56M $32.76M
Total Liabilities $37.80M $51.99M $51.99M
YoY Change -14.92% 12.28% 12.28%
SHAREHOLDERS EQUITY
Retained Earnings -$146.7M -$134.2M
YoY Change 33.24% 33.35%
Common Stock $32.00K $32.00K
YoY Change 3.23% 3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $180.6M $190.6M $190.6M
YoY Change
Total Liabilities & Shareholders Equity $218.4M $242.6M $242.6M
YoY Change -13.06% -7.02% -7.02%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$12.50M -$9.791M -$33.60M
YoY Change 32.77% 182.57% 51.35%
Depreciation, Depletion And Amortization $634.0K $577.0K $1.614M
YoY Change 137.45% 99.65% 79.33%
Cash From Operating Activities -$10.65M -$5.116M -$20.93M
YoY Change 2184.76% -44.51% -28.03%
INVESTING ACTIVITIES
Capital Expenditures $1.185M $612.0K $2.045M
YoY Change 92.06% -1233.33% 177.48%
Acquisitions $13.76M
YoY Change
Other Investing Activities $0.00 -$13.76M
YoY Change
Cash From Investing Activities -$1.185M -$612.0K -$15.81M
YoY Change 92.06% 1033.33% 2044.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.38M 411.0K 1.179M
YoY Change -11931.54% -99.57% -98.76%
NET CHANGE
Cash From Operating Activities -10.65M -5.116M -20.93M
Cash From Investing Activities -1.185M -612.0K -15.81M
Cash From Financing Activities -15.38M 411.0K 1.179M
Net Change In Cash -27.21M -5.317M -35.54M
YoY Change 2754.98% -106.24% -154.76%
FREE CASH FLOW
Cash From Operating Activities -$10.65M -$5.116M -$20.93M
Capital Expenditures $1.185M $612.0K $2.045M
Free Cash Flow -$11.83M -$5.728M -$22.98M
YoY Change 992.52% -37.51% -22.95%

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4481000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4120000
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
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CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
476000
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
452000
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2753000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1892000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
5426000
CY2022 mass Increase Decrease In Right Of Use Operating Assets
IncreaseDecreaseInRightOfUseOperatingAssets
-1226000
CY2021 mass Increase Decrease In Right Of Use Operating Assets
IncreaseDecreaseInRightOfUseOperatingAssets
-1121000
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1344000
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1190000
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-75000
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-194000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20930000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2045000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
737000
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
13762000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15807000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-737000
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
94752000
CY2022 mass Payments For Withholding Taxes On Vested Awards
PaymentsForWithholdingTaxesOnVestedAwards
262000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1553000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
852000
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
112000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2022 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
60000000
CY2021 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
30000000
CY2022 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
60000000
CY2021 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
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CY2021 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
15000000
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1179000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
94725000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-35540000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
64906000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
224133000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
159227000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
188593000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
224133000
CY2021 mass Public Offering Costs Included In Accounts Payable And Accrued Expenses
PublicOfferingCostsIncludedInAccountsPayableAndAccruedExpenses
112000
CY2022 mass Property And Equipment Included In Account Payable
PropertyAndEquipmentIncludedInAccountPayable
219000
CY2022 mass Transfers Of Inventory To Property And Equipment
TransfersOfInventoryToPropertyAndEquipment
887000
CY2021 mass Transfers Of Inventory To Property And Equipment
TransfersOfInventoryToPropertyAndEquipment
940000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
188422000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
224073000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
60000
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
60000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
111000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
188593000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
224133000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
135000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
366000
CY2022 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2012-02-10
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-33600000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-22200000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-134200000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, revenue recognition and accounts receivable, the valuation of inventory, fair value of assets acquired and liabilities assumed in acquisitions and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Due to the rising inflation and higher interest rates, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require further updates to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of the date of issuance of these consolidated financial statements. These estimates may change, as new events occur and additional information is obtained. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions.</p>
CY2022 mass Concentrations Of Credit Risk And Of Significant Customers
ConcentrationsOfCreditRiskAndOfSignificantCustomers
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Risk of Concentrations of Credit, Significant Customers and Significant Suppliers</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents and restricted cash are maintained in bank deposit accounts and money market funds that regularly exceed federally insured limits. The Company is exposed to credit risk on its cash, cash equivalents and restricted cash in the event of default by the financial institutions to the extent account balances exceed the amount insured by the Federal Deposit Insurance Corporation (“FDIC”). Please refer to Note 19 for further discussion regarding the potential impacts of the closure of the Company’s two financial institutions at which the Company currently hold deposits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Significant customers are those that accounted for 10% or more of the Company’s total revenue or accounts receivable. One customer represented 28% and 43% of total revenue, respectively, for the year ended December 31, 2022 and 2021. As of December 31, 2022, two customers accounted for 20% and 12% of gross accounts receivable. As of December 31, 2021, two customers accounted for 63% and 11%, respectively, of gross accounts receivable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain of the components included in the Company’s products are obtained from a sole source, a single source or a limited group of suppliers. Although the Company seeks to reduce dependence on those limited sources of suppliers and manufacturers, the partial or complete loss of certain of these sources, or the requirement to establish a new supplier for the components, could have a material adverse effect on the Company’s operating results, financial condition and cash flows and damage its customer relationships.</p>
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1700000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1800000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
46852000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42206000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
46852000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42206000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
1800000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
1700000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2022 mass Accretion In Fair Value Of Contingent Consideration Earnout
AccretionInFairValueOfContingentConsiderationEarnout
161000
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1798000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
8343000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6242000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2722000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
551000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1448000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1125000
CY2022Q4 us-gaap Inventory Net
InventoryNet
12513000
CY2021Q4 us-gaap Inventory Net
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7918000
CY2022 mass Inventory Non Cash Transfers To Property Plant And Equipment
InventoryNonCashTransfersToPropertyPlantAndEquipment
900000
CY2021 mass Inventory Non Cash Transfers To Property Plant And Equipment
InventoryNonCashTransfersToPropertyPlantAndEquipment
900000
CY2022Q4 us-gaap Goodwill
Goodwill
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CY2022 us-gaap Goodwill Acquired During Period
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CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
484000
CY2022Q4 us-gaap Goodwill
Goodwill
10050000
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
343000
CY2022 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
407000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
343000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
859000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
846000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
752000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
4443000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3458000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3083000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1603000
CY2022 us-gaap Depreciation
Depreciation
1300000
CY2021 us-gaap Depreciation
Depreciation
900000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4909000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3271000
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1119000
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1593000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
677000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
710000
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
1243000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
899000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1387000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8847000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6961000
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1593000
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1265000
CY2022 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1396000
CY2021 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1776000
CY2022 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1870000
CY2021 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1448000
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1119000
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1593000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2021Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
15000000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2020Q4 mass Total Shares Authorized
TotalSharesAuthorized
105000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y8M12D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62714000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10311000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P6Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
8061000
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4300000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
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CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
2337000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1780000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
43000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
541000
CY2022 us-gaap Lease Cost
LeaseCost
2389000
CY2021 us-gaap Lease Cost
LeaseCost
2341000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1800000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1855000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y9M
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M19D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2153000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2431000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q4 mass Operating Lease Liability Commencing Next Fiscal Year
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CY2022Q4 us-gaap Operating Lease Liability
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CY2022Q4 mass Number Of Parties With Royalty Arrangements
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CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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-0.045
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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