2023 Q1 Form 10-K Financial Statement

#000149315223010183 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $7.188M $7.378M $28.40M
YoY Change 0.48% -33.18% -16.17%
Cost Of Revenue $3.314M $4.979M $15.20M
YoY Change -3.18% -3.69% 0.26%
Gross Profit $3.874M $2.399M $13.20M
YoY Change 3.83% -59.15% -29.49%
Gross Profit Margin 53.9% 32.52% 46.47%
Selling, General & Admin $5.028M $4.220M $18.19M
YoY Change 2.4% -50.55% -10.99%
% of Gross Profit 129.79% 175.92% 137.85%
Research & Development $767.0K $904.0K $4.058M
YoY Change -31.4% 1.57% 33.01%
% of Gross Profit 19.8% 37.68% 30.75%
Depreciation & Amortization $298.0K $298.0K $201.0K
YoY Change -34.79% -38.3% -85.03%
% of Gross Profit 7.69% 12.42% 1.52%
Operating Expenses $767.0K $5.422M $4.058M
YoY Change -88.17% -45.27% -83.66%
Operating Profit -$2.300M -$3.023M -$13.80M
YoY Change -16.49% -25.07% 125.67%
Interest Expense $196.0K -$30.00K -$38.00K
YoY Change -314.29% 442.86%
% of Operating Profit
Other Income/Expense, Net $537.0K $0.00 $40.00K
YoY Change 1578.13% -100.0%
Pretax Income -$1.811M -$5.561M -$13.76M
YoY Change -35.73% -59.01% -16.09%
Income Tax -$55.00K -$54.00K -$190.0K
% Of Pretax Income
Net Earnings -$1.756M -$5.527M -$13.54M
YoY Change -36.54% -59.26% -17.4%
Net Earnings / Revenue -24.43% -74.91% -47.67%
Basic Earnings Per Share -$0.80 -$0.29
Diluted Earnings Per Share -$0.74 -$0.12 -$0.29
COMMON SHARES
Basic Shares Outstanding 47.62M shares 47.42M shares 46.69M shares
Diluted Shares Outstanding 2.375M shares 2.335M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.83M $25.63M $25.63M
YoY Change -19.95% -29.27% -29.27%
Cash & Equivalents $14.04M $25.63M
Short-Term Investments $10.79M
Other Short-Term Assets $1.029M $1.232M $1.232M
YoY Change -50.05% -50.12% -50.12%
Inventory $11.99M $12.02M $12.02M
Prepaid Expenses
Receivables $6.385M $6.007M $6.007M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $44.23M $44.89M $44.89M
YoY Change -21.41% -24.77% -24.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.561M $1.434M $2.509M
YoY Change -41.05% 22.25% -1.03%
Goodwill $0.00
YoY Change
Intangibles $4.156M $4.400M
YoY Change -25.69%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.725M $6.909M $6.909M
YoY Change -17.61% -18.29% -18.29%
TOTAL ASSETS
Total Short-Term Assets $44.23M $44.89M $44.89M
Total Long-Term Assets $6.725M $6.909M $6.909M
Total Assets $50.96M $51.80M $51.80M
YoY Change -20.93% -23.96% -23.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.674M $2.626M $2.626M
YoY Change -5.68% -14.6% -14.6%
Accrued Expenses $1.659M $1.568M $2.023M
YoY Change -48.75% -50.3% -45.55%
Deferred Revenue $1.291M $1.540M
YoY Change -27.12%
Short-Term Debt $0.00 $84.00K $84.00K
YoY Change -15.15% -15.15%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.057M $6.273M $6.273M
YoY Change -21.13% -30.32% -30.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.022M $1.107M $1.107M
YoY Change -31.59% -26.54% -26.54%
Total Long-Term Liabilities $1.022M $1.107M $1.107M
YoY Change -31.59% -26.54% -26.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.057M $6.273M $6.273M
Total Long-Term Liabilities $1.022M $1.107M $1.107M
Total Liabilities $7.787M $8.144M $8.144M
YoY Change -22.9% -29.1% -29.1%
SHAREHOLDERS EQUITY
Retained Earnings -$301.9M -$300.1M
YoY Change 4.73%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $277.0K $277.0K
YoY Change 0.0%
Treasury Stock Shares 2.659K shares
Shareholders Equity $43.17M $43.65M $43.65M
YoY Change
Total Liabilities & Shareholders Equity $50.96M $51.80M $51.80M
YoY Change -20.93% -23.96% -23.96%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.756M -$5.527M -$13.54M
YoY Change -36.54% -59.26% -17.4%
Depreciation, Depletion And Amortization $298.0K $298.0K $201.0K
YoY Change -34.79% -38.3% -85.03%
Cash From Operating Activities -$600.0K $2.541M -$9.200M
YoY Change -87.7% -285.2% -4.18%
INVESTING ACTIVITIES
Capital Expenditures $177.0K $114.0K $466.0K
YoY Change -184.69% -365.12% -331.84%
Acquisitions
YoY Change
Other Investing Activities -$10.76M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$10.94M -$114.0K -$466.0K
YoY Change 5134.45% 165.12% -97.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$84.00K -167.0K -$958.0K
YoY Change -15.15% -43.0% -101.64%
NET CHANGE
Cash From Operating Activities -$600.0K 2.541M -$9.200M
Cash From Investing Activities -$10.94M -114.0K -$466.0K
Cash From Financing Activities -$84.00K -167.0K -$958.0K
Net Change In Cash -$11.58M 2.260M -$10.60M
YoY Change 123.31% -232.32% -134.03%
FREE CASH FLOW
Cash From Operating Activities -$600.0K $2.541M -$9.200M
Capital Expenditures $177.0K $114.0K $466.0K
Free Cash Flow -$777.0K $2.427M -$9.666M
YoY Change -83.36% -282.62% 2.83%

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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Net Income Loss
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CY2021 VISL Stock Issued During Period Value Exchange For Payment Of Offering Costs
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17346000 usd
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330000 usd
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715000 usd
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54000 usd
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1565000 usd
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43652000 usd
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1565000 usd
CY2021 us-gaap Share Based Compensation
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3863000 usd
CY2022 VISL Stock Issuance Commitments
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200000 usd
CY2021 VISL Stock Issuance Commitments
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200000 usd
CY2021 VISL Warrants Issued In Settlement Agreements
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74000 usd
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21000 usd
CY2021 us-gaap Provision For Doubtful Accounts
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233000 usd
CY2022 VISL Recovery Of Bad Debt
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517000 usd
CY2021 VISL Recovery Of Bad Debt
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310000 usd
CY2022 us-gaap Inventory Lifo Reserve Effect On Income Net
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2930000 usd
CY2021 us-gaap Inventory Lifo Reserve Effect On Income Net
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843000 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
201000 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
237000 usd
CY2022 VISL Impairment Of Rightofuse Assets
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88000 usd
CY2021 us-gaap Goodwill Impairment Loss
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9189000 usd
CY2022 us-gaap Depreciation And Amortization
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1722000 usd
CY2021 us-gaap Depreciation And Amortization
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1343000 usd
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3611000 usd
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3731000 usd
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3187000 usd
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021 us-gaap Increase Decrease In Accrued Liabilities
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231000 usd
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867000 usd
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978000 usd
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965000 usd
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18311000 usd
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466000 usd
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201000 usd
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2000 usd
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958000 usd
CY2021 us-gaap Repayments Of Medium Term Notes
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1024000 usd
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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58312000 usd
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46000 usd
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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31041000 usd
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36231000 usd
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5190000 usd
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25627000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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36231000 usd
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41000 usd
CY2021 us-gaap Interest Paid Net
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56000 usd
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943000 usd
CY2021 us-gaap Notes Issued1
NotesIssued1
1098000 usd
CY2022 VISL Issuance Of Shares Of Series A Preferred Stock As Dividends For Common Stock Shareholders
IssuanceOfSharesOfSeriesAPreferredStockAsDividendsForCommonStockShareholders
20000 usd
CY2022 VISL Board Compensation Awards Previously Accrued
BoardCompensationAwardsPreviouslyAccrued
200000 usd
CY2021 VISL Board Compensation Awards Previously Accrued
BoardCompensationAwardsPreviouslyAccrued
200000 usd
CY2022 VISL Settlement Of Amounts Due Accounts Payable
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54000 usd
CY2021 VISL Common Stock Issued In Connection With Warrants Issued In Settlement Agreements
CommonStockIssuedInConnectionWithWarrantsIssuedInSettlementAgreements
74000 usd
CY2021 VISL Operating Lease Assets Recognized
OperatingLeaseAssetsRecognized
522000 usd
CY2022 VISL Operating Lease Asset Amortization
OperatingLeaseAssetAmortization
1185000 usd
CY2021 VISL Operating Lease Asset Amortization
OperatingLeaseAssetAmortization
237000 usd
CY2022 VISL Operating Impairments
OperatingImpairments
-43000 usd
CY2022 VISL Loss On Lease Impairments
LossOnLeaseImpairments
-88000 usd
CY2022 VISL Rou Assets And Operating Lease Obligations Recognized
ROUAssetsAndOperatingLeaseObligationsRecognized
-1316000 usd
CY2021 VISL Rou Assets And Operating Lease Obligations Recognized
ROUAssetsAndOperatingLeaseObligationsRecognized
285000 usd
CY2021 VISL Operating Lease Liabilities Recognized
OperatingLeaseLiabilitiesRecognized
531000 usd
CY2022 VISL Noncash Changes To Operating Lease Liabilities Accretion
NoncashChangesToOperatingLeaseLiabilitiesAccretion
-506000 usd
CY2021 VISL Noncash Changes To Operating Lease Liabilities Accretion
NoncashChangesToOperatingLeaseLiabilitiesAccretion
-483000 usd
CY2022 VISL Recognization Of Operating Lease Liabilities
RecognizationOfOperatingLeaseLiabilities
-506000 usd
CY2021 VISL Recognization Of Operating Lease Liabilities
RecognizationOfOperatingLeaseLiabilities
48000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_806_eus-gaap--NatureOfOperations_zLdi78JUHmRa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 — <span id="xdx_823_zDiQYhKSeYA4">NATURE OF OPERATIONS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vislink, incorporated in Delaware in 2006, is a global technology business specializing in collecting, delivering, and managing high-quality, live video and associated data from the action scene to the viewing screen. Vislink provides solutions for collecting live news, sports, entertainment, and news events for the broadcast markets. Vislink also furnishes the surveillance and defense markets with real-time video intelligence solutions using various tailored transmission products. The Vislink team also provides professional and technical services utilizing a staff of technology experts with decades of applied knowledge and real-world experience in the terrestrial microwave, satellite, fiber optic, surveillance, and wireless communications systems delivering a broad spectrum of customer solutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Live Broadcast:</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vislink delivers an extensive portfolio of solutions for live news, sports, and entertainment industries. These solutions include video collection, transmission, management, and distribution via microwave, satellite, cellular, I.P. (Internet Protocol), MESH, and bonded cellular/5G networks. We also provide solutions utilizing A.I. (Artificial Intelligence) technologies to provide automated news and sporting events coverage. With over 50 years in operation, Vislink has the expertise and technology portfolio to deliver fully integrated, seamless, end-to-end solutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Industry-wide contributors acknowledge Vislink’s live broadcast solutions. The transmission of most of all outside wireless broadcast video content uses our equipment, with over 200,000 systems installed worldwide. We work closely with the majority of the world’s broadcasters. Vislink wireless cameras and ultra-compact encoders help bring many of the world’s most prestigious sporting and entertainment events to life. Recent examples include globally watched international sporting contests, award shows, racing events, and annual music and cultural events.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Military And Government:</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vislink has developed high-quality solutions to meet surveillance and defense markets’ operational and industry challenges based on our knowledge of live video delivery. Vislink solutions are specifically designed with interagency cooperation, utilizing the internationally-recognized I.P. platform and a web interface for video delivery. Vislink provides comprehensive video, audio, and data communications solutions to law enforcement and the public safety community, including Airborne, Unmanned Systems, Maritime, and Tactical Mobile Command Posts. These solutions may include:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">integrated suites of airborne downlink transmitters, receivers, and antenna systems</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">data and video connectivity for airborne, marine, and ground assets</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UAV video distribution</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">flexible support for COFDM and bonded cellular/5G Networks</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">terrestrial point-to-point</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tactical mobile command</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IP-based, high-end encryption, full-duplex, real-time connectivity at extended operating ranges</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">high-throughput air/marine/ground-to-anywhere uplink and downlink systems</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">secure live streaming platforms for use in mobile and fixed assets</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">personal portable products</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vislink public safety and surveillance solutions are deployed worldwide, including throughout the U.S., Europe, and the Middle East, at the local, regional, and federal levels of operation, criminal investigation, crisis management, mobile command posts, and field operations. These solutions are designed to meet the demands of field operations, command centers, and central receiving sites. Short-range and long-range solutions are available in areas including established infrastructure and exceptionally remote regions, making valuable video intelligence available regardless of location.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Satellite Communications</span>:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Over 30 years of technical expertise support Vislink’s satellite solutions. These solutions ensure robust, secure communications while delivering low transmission costs for any organization that needs high-quality, reliable satellite transmission. We offer turnkey solutions that begin with state-of-the-art coding, compression, and engine modulation and end with our robust, lightweight antenna systems. Vislink Satellite solutions focus heavily on being the smallest, lightest, and most efficient in their categories, making transportation and ease of use a key driver in the customer experience. Vislink offers an extensive range of satellite designs that allow customers to optimize bit rate, size, weight, and total cost. Our satellite systems are used extensively globally, with over 2,000 systems deployed by governments, militaries, and broadcasters. While we continue offering satellite solutions, we no longer invest in the engineering and product development necessary to stay relevant in the sector. We will continue to market and sell our current solutions but do not anticipate introducing further upgrades or features to our satellite product line.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 408.45pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>VISLINK TECHNOLOGIES, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 — NATURE OF OPERATIONS (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Connected Edge Solutions:</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vislink offers the hardware and software solutions needed to acquire, produce, contribute, and deliver video over all private and public networks with the Mobile Viewpoint acquisition. Connected edge solutions aid the video transport concept of ubiquitous IP networks and cloud-scale computing across 5G, WiFi6, Mesh, and COFDM-enabled networks. These solutions include:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Live video encoding, stream adaptation, decoding, and production solutions</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Remote production workflows</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wireless cameras</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AI-driven automated production</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ability to contribute video over:</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif">○<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Bonded cellular (3G and 4G)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif">○<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Satellite</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif">○<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Fiber</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif">○<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Emerging networks, including 5G and Starlink</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-13800000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9200000 usd
CY2022Q4 VISL Working Capital
WorkingCapital
38600000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-300100000 usd
CY2022Q4 us-gaap Cash
Cash
25600000 usd
CY2021 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6163198 shares
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12600000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zwF35IJPUT6e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_86D_zUo0LdCc554g">Use of Estimates</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities in the consolidated financial statements. Significant accounting estimates reflected in the Company’s consolidated financial statements include the useful lives of property, plant, and equipment, the useful lives of right-of-use assets, the useful lives of intangible assets, impairment of long-lived assets, allowance for accounts receivable doubtful accounts, allowance for inventory obsolescence reserve, allowance for deferred tax assets, valuation of warranty reserves, contingent consideration liabilities, and the accrual of potential liabilities. These estimates also affect the reported revenues and expenses during the reporting periods. Actual results could differ from estimates, and any such differences may be material to our financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zcRHsjgW4rh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_865_zsUGO4VaBdS3">Concentrations</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not have any off-balance-sheet concentrations of credit risk. Credit risk is that the counterparty will default on its contractual obligations, resulting in a company’s financial loss. The Company’s credit risk is primarily attributable to its cash and accounts receivables. The Company’s policy is to maintain its cash with high-credit quality financial institutions to limit its risk of loss exposure. Financial instruments potentially subject the Company to credit risk concentration consisting of cash deposits. The Federal Deposit Insurance Corporation (“FDIC”) insures accounts held within the United States up to $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20221231_zK7cMH6k5bi9" title="Cash FDIC insured amount">250,000</span>. The Company maintains cash balance accounts at financial institutions in the United Kingdom insured by the Financial Services Compensation Scheme up to £<span id="xdx_908_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uGBP_c20221231_zZyO2pWVn14l" title="Cash FDIC insured amount">85,000</span>, subject to currency translation rates to the United States dollar. Lastly, the Company maintains cash balance accounts at financial institutions in the Netherlands insured by the “Dutch deposit guarantee scheme” up to €<span id="xdx_903_ecustom--DutchDepositGuaranteeScheme_iI_pp0p0_uEUR_c20221231_zyNMtKrnrvke" title="Dutch deposit guarantee scheme">100,000</span> per person, per bank.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2022, and 2021, the Company had approximately $<span id="xdx_904_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20221231__srt--RangeAxis__srt--MinimumMember_z9Jf4seZ0BOg" title="Cash uninsured amount">24.5</span> million and $<span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_pn5n6_c20211231__srt--RangeAxis__srt--MinimumMember_zFsVcd6n85tc" title="Cash uninsured amount">35.2</span> million above insured limits, respectively. The Company has not experienced any losses in its bank accounts between December 31, 2022, and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management assesses their credit quality for customers, considering their financial position and historical experience. During the year ended December 31, 2022, the Company recorded sales to a single customer of $<span id="xdx_906_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20220101__20221231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zr25JFC31ei2" title="Revenue">3,436,000</span> (<span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2au0OJSM1U5" title="Concentration risk percentage">12%</span>), in excess of 10% of the Company’s total sales. For the year ended December 31, 2021, the Company recorded sales to a single customer of $<span id="xdx_90D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zMyGZFOu4su4" title="Revenue">8,511,000</span> (<span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zHEsHEQkZ5g" title="Concentration risk percentage">25%</span>) in excess of 10% of the Company’s total sales.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 31, 2022, and 2021, the Company recorded accounts receivable of approximately $<span id="xdx_905_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20221231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zUPjcX48xro9">1,138,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zh2aXe6B3f5d">19%</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">) and $<span id="xdx_904_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20211231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zCbRrj6aLTIf">4,204,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__srt--MajorCustomersAxis__custom--SingleCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zMDsVDiznFK1">46%</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">), respectively, to a single customer in excess of 10% of the Company’s total consolidated accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
85000 gbp
CY2022Q4 VISL Dutch Deposit Guarantee Scheme
DutchDepositGuaranteeScheme
100000 eur
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
9189000 usd
CY2022 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p id="xdx_84F_eus-gaap--GuaranteesIndemnificationsAndWarrantiesPolicies_zA6SggpeHQQi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_862_zZUJdZ9Te8X9">Warranty Reserve</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although the Company tests its product under its quality programs and processes, its warranty obligation is affected by product failure rates and service delivery costs incurred in correcting a product failure. Required revisions to the estimated warranty liability will occur should actual product failure rates or service costs differ from the Company’s estimates, where applicable, based on limited historical data.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfProductWarrantyLiabilityTableTextBlock_zsv2i5Bpkx8l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The claims made during the year ended December 31, 2022, and 2021 were ordinary and customary. The warranty reserve is included in accrued expenses on the accompanying consolidated balance sheets and the cost of components in the accompanying consolidated statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B0_z3vPvSj3w0Pi" style="display: none">SCHEDULE OF PRODUCT WARRANTY LIABILITY</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Warranty Reserve</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 78%; text-align: justify">December 31, 2020</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ProductWarrantyAccrual_iS_pp0p0_c20210101__20211231_zexra0jxaefl" style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right" title="Warranty reserve, beginning">283,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt; text-align: justify">Warranty reserve expense</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ProductWarrantyAccrualWarrantiesIssued_pp0p0_c20210101__20211231_z1cm3MPxbho1" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Warranty reserve expense"><span style="-sec-ix-hidden: xdx2ixbrl0797">—</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Warranty claims settled, and true-up of accrual</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--ProductWarrantyAccrualPayments_iN_pp0p0_di_c20210101__20211231_zdarR3xq30Kc" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Warranty claims settled and true-up of accrual">(152,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify">December 31, 2021</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--ProductWarrantyAccrual_iS_pp0p0_c20220101__20221231_zvFsGX3JWX4h" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Warranty reserve, beginning">131,000</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt; text-align: justify">Warranty reserve expense</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ProductWarrantyAccrualWarrantiesIssued_pp0p0_c20220101__20221231_zJOi00VVo5Ih" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Warranty reserve expense">98,000</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt; text-align: justify; padding-bottom: 1.5pt">Warranty claims settled, and true-up of accrual</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--ProductWarrantyAccrualPayments_iN_pp0p0_di_c20220101__20221231_zscf6MKc62v1" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Warranty claims settled and true-up of accrual">(117,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">December 31, 2022</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_eus-gaap--ProductWarrantyAccrual_iE_pp0p0_c20220101__20221231_zY00EshyZicc" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Warranty reserve, ending">112,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zbDgv3SgRHK6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
283000 usd
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
152000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
131000 usd
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
98000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
117000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
112000 usd
CY2022 VISL Shipping And Handling Costs
ShippingAndHandlingCosts
796000 usd
CY2021 VISL Shipping And Handling Costs
ShippingAndHandlingCosts
581000 usd
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
131000 usd
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
131000 usd
CY2021 VISL Operating Leases Right Of Use Asset Accumulated Amortization
OperatingLeasesRightOfUseAssetAccumulatedAmortization
43000 usd
CY2021 VISL Operating Leases Right Of Use Asset Accumulated Amortization
OperatingLeasesRightOfUseAssetAccumulatedAmortization
43000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
88000 usd
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
1038000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
139000 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10003000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10763000 shares
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
24000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
100000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
24000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
100000 usd
CY2022 VISL Accumulated Comprehensive Income Unrealized Loss On Currency Translation Adjustment
AccumulatedComprehensiveIncomeUnrealizedLossOnCurrencyTranslationAdjustment
1040000 usd
CY2021 VISL Accumulated Comprehensive Income Unrealized Loss On Currency Translation Adjustment
AccumulatedComprehensiveIncomeUnrealizedLossOnCurrencyTranslationAdjustment
445000 usd
CY2022 VISL Accumulated Comprehensive Income Unrealized Loss On Currency Translation Adjustment
AccumulatedComprehensiveIncomeUnrealizedLossOnCurrencyTranslationAdjustment
1040000 usd
CY2021 VISL Accumulated Comprehensive Income Unrealized Loss On Currency Translation Adjustment
AccumulatedComprehensiveIncomeUnrealizedLossOnCurrencyTranslationAdjustment
445000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
88000 usd
CY2022Q4 us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
the Company’s board of directors approved the designation of a Series A Preferred Stock created for the sole purpose of the January 11, 2023, Special Meeting of stockholders voting on the consideration of a “Reverse Stock Split Proposal.” The Series A Preferred Stock had a par value of $0.00001 per share. The Preferred Stock was redeemable upon the holder participating at any meeting of stockholders held to vote on the Reverse Stock Split immediately before the opening of the polls at such meeting (the “Initial Redemption Time”) shall automatically be redeemed by the Corporation at the Initial Redemption Time without further action on the part of the Corporation or the holder thereof (the “Initial Redemption”). Any outstanding shares of Series A Preferred Stock that were not redeemed under an Initial Redemption were redeemed in whole, but not in part (i) if such redemption was ordered by the Board of Directors in its sole discretion, automatically and effective on such time and date specified by the Board of Directors in its sole discretion or (ii) automatically upon the approval by the Corporation’s stockholders of the Reverse Stock Split at the Special Meeting held for voting on the Reverse Stock Split proposal.
CY2021Q3 VISL Business Combination Consideration Transferred Cash
BusinessCombinationConsiderationTransferredCash
18311000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
965000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
911000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
3765000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
513000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
149000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
507000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
551000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
293000 usd
CY2021Q3 VISL Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Tax Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredTaxLiabilities
978000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
3974000 usd
CY2021Q3 VISL Business Combination Consideration Paid
BusinessCombinationConsiderationPaid
18311000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
3974000 usd
CY2021Q3 VISL Excess Of Consideration Paid Over Net Assets Acquired
ExcessOfConsiderationPaidOverNetAssetsAcquired
14337000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
14337000 usd
CY2021Q3 VISL Increase In Inventory
IncreaseInInventory
1230000 usd
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
110000 usd
CY2021Q3 VISL Increased Reciprocal Of Inventory
IncreasedReciprocalOfInventory
110000 usd
CY2021Q3 VISL Weighted Average Cost Capital Percentage
WeightedAverageCostCapitalPercentage
0.20 pure
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
36843 usd
CY2021 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-16173 usd
CY2021 us-gaap Basic Earnings Per Share Pro Forma
BasicEarningsPerShareProForma
-0.37
CY2021 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
43484 shares
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6680000 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
10327000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
673000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1258000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6007000 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
9069000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
21000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
233000 usd
CY2022 VISL Recovery Of Bad Debt
RecoveryOfBadDebt
517000 usd
CY2021 VISL Recovery Of Bad Debt
RecoveryOfBadDebt
310000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
12038000 usd
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
11308000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1474000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2105000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4460000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5011000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
17972000 usd
CY2021Q4 us-gaap Inventory Gross
InventoryGross
18424000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5951000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
6530000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
12021000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
11894000 usd
CY2022 us-gaap Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
1143000 usd
CY2021 us-gaap Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
843000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3767000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3534000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2333000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2361000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1434000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1173000 usd
CY2022 us-gaap Depreciation
Depreciation
201000 usd
CY2021 us-gaap Depreciation
Depreciation
195000 usd
CY2022 us-gaap Impairment Of Leasehold
ImpairmentOfLeasehold
228000 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
9189000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
0 usd
CY2021 VISL Goodwill Additions
GoodwillAdditions
8211000 usd
CY2021 VISL Deferred Tax Liabilties
DeferredTaxLiabilties
978000 usd
CY2021 VISL Goodwill Impairments
GoodwillImpairments
-9189000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
0 usd
CY2021Q4 us-gaap Goodwill
Goodwill
0 usd
CY2020Q4 VISL Beginning Balance Cost Accumulated Amortization
BeginningBalanceCostAccumulatedAmortization
1921000 usd
CY2021 VISL Additionscost Accumulated Amortizations
AdditionscostAccumulatedAmortizations
5148000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1148000 usd
CY2021Q4 VISL Ending Balance Cost Accumulated Amortization
EndingBalanceCostAccumulatedAmortization
5921000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1521000 usd
CY2022Q4 VISL Ending Balance Cost Accumulated Amortization
EndingBalanceCostAccumulatedAmortization
4400000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4400000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5921000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1521000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1148000 usd
CY2022 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P5Y3M18D
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
645000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
645000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
645000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
556000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
539000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1370000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4400000 usd
CY2022Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
246000 usd
CY2021Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
2069000 usd
CY2022Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
47000 usd
CY2021Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
29000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
112000 usd
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
130000 usd
CY2021Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
185000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
908000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
687000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
255000 usd
CY2021Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
55000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1568000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3155000 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
84000 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
99000 usd
CY2022 VISL Lessee Operating Lease Remaining Lease Terms
LesseeOperatingLeaseRemainingLeaseTerms
one to four years
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1100000 usd
CY2022 VISL Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
1200000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1600000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
500000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1100000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2022 us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
July 2023 to January 2027
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.094 pure
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
438000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
472000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
93000 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
417000 usd
CY2022 us-gaap Lease Cost
LeaseCost
531000 usd
CY2021 us-gaap Lease Cost
LeaseCost
889000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
543000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
635000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.094 pure
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.093 pure
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
589000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
455000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
443000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
249000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
59000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1795000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
233000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1562000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
455000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1107000 usd
CY2022 VISL Number Of Shares Underlying Warrants
NumberOfSharesUnderlyingWarrants
55333 shares
CY2021 VISL Number Of Shares Underlying Warrants
NumberOfSharesUnderlyingWarrants
66341 shares
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
22000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-22000 usd
CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000.0 shares
CY2013Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
47419317 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
45825089 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47416658 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45822430 shares
CY2022 us-gaap Allocated Share Based Compensation Expense
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the Tax Act includes a participation exemption system of taxation, which generally provides for 100% dividends received deduction on certain qualifying dividend distributions received by U.S. C-corporation shareholders from their 10% or more owned foreign subsidiaries. As a result of this new participation exemption system, it is generally anticipated that the Company should not be subject to additional U.S. federal income taxation on its future receipt of actual dividend income (instead of deemed inclusion amounts under specific anti-deferral rules) from its foreign subsidiary.

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