$XBP
XBP Europe Holdings Inc

2024 Q1 Form 10-K Financial Statement

#000155837024004558 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $40.35M $41.16M $166.6M
YoY Change
Cost Of Revenue $30.41M $32.33M $128.1M
YoY Change
Gross Profit $9.936M $8.826M $39.04M
YoY Change 5.03% -10.68%
Gross Profit Margin 24.62% 21.44% 23.44%
Selling, General & Admin $7.946M $10.35M $34.68M
YoY Change 1203.56% 1245.99% 1102.42%
% of Gross Profit 79.97% 117.23% 88.84%
Research & Development $900.0K
YoY Change -18.18%
% of Gross Profit 2.31%
Depreciation & Amortization $957.0K $3.851M $3.851M
YoY Change 5.16% -12.28%
% of Gross Profit 9.63% 43.63% 9.86%
Operating Expenses $9.865M $12.10M $900.0K
YoY Change 1518.38% 1474.41% -68.8%
Operating Profit $71.00K -$3.277M -$4.179M
YoY Change -111.65% 44.88%
Interest Expense -$2.278M -$3.673M -$7.788M
YoY Change -2775.28% 693.72% -1148.54%
% of Operating Profit -3208.45%
Other Income/Expense, Net $459.0K $937.0K $929.0K
YoY Change 359.0% 2923.56% 829.0%
Pretax Income -$1.748M -$6.013M -$10.44M
YoY Change 9.69% 400.87% -516.88%
Income Tax $500.0K -$917.0K $606.0K
% Of Pretax Income
Net Earnings -$2.208M $2.073M -$11.05M
YoY Change 38.56% -276.74% -561.54%
Net Earnings / Revenue -5.47% 5.04% -6.63%
Basic Earnings Per Share -$0.07 -$0.49
Diluted Earnings Per Share -$0.07 -$0.17 -$0.49
COMMON SHARES
Basic Shares Outstanding 30.17M 22.54M
Diluted Shares Outstanding 30.17M 22.54M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.501M $6.905M $6.905M
YoY Change 13904.0% 16680.07% 16680.07%
Cash & Equivalents $3.501M $6.905M $6.905M
Short-Term Investments
Other Short-Term Assets $8.488M $7.427M $5.827M
YoY Change 1742.89% 3432.63% 2671.59%
Inventory $4.738M $4.740M $4.740M
Prepaid Expenses
Receivables $30.95M $30.80M $30.80M
Other Receivables $0.00 $0.00 $1.600M
Total Short-Term Assets $47.67M $49.87M $49.87M
YoY Change 9717.62% 19736.11% 19735.72%
LONG-TERM ASSETS
Property, Plant & Equipment $20.28M $20.86M $20.86M
YoY Change
Goodwill $22.38M $22.91M
YoY Change 3.84%
Intangibles $1.285M $1.498M
YoY Change -2.03%
Long-Term Investments
YoY Change
Other Assets $831.0K $739.0K $7.600M
YoY Change
Total Long-Term Assets $51.46M $52.87M $52.87M
YoY Change 232.67% 68.14% 68.14%
TOTAL ASSETS
Total Short-Term Assets $47.67M $49.87M $49.87M
Total Long-Term Assets $51.46M $52.87M $52.87M
Total Assets $99.14M $102.7M $102.7M
YoY Change 521.34% 224.13% 224.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.60M $14.41M $14.41M
YoY Change -14.52%
Accrued Expenses $23.32M $24.74M $37.77M
YoY Change 1640.01% 1979.73% 2897.92%
Deferred Revenue $6.403M $6.004M
YoY Change 6.08%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due $4.650M $3.863M $4.501M
YoY Change -22.27%
Total Short-Term Liabilities $80.84M $82.07M $82.07M
YoY Change 662.44% 767.57% 767.57%
LONG-TERM LIABILITIES
Long-Term Debt $12.61M $12.76M $12.79M
YoY Change
Other Long-Term Liabilities $1.563M $1.635M $20.45M
YoY Change -54.48% -39.06% 662.21%
Total Long-Term Liabilities $14.17M $14.40M $33.24M
YoY Change 312.68% 436.64% 1138.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.84M $82.07M $82.07M
Total Long-Term Liabilities $14.17M $14.40M $33.24M
Total Liabilities $113.3M $115.3M $115.3M
YoY Change 707.47% 849.58% 849.58%
SHAREHOLDERS EQUITY
Retained Earnings -$13.55M -$11.34M
YoY Change -2.57% -7.89%
Common Stock $30.00K $30.00K
YoY Change 5315.16% 55455.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$14.21M -$12.57M -$12.57M
YoY Change
Total Liabilities & Shareholders Equity $99.14M $102.7M $102.7M
YoY Change 521.34% 224.13% 224.13%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.208M $2.073M -$11.05M
YoY Change 38.56% -276.74% -561.54%
Depreciation, Depletion And Amortization $957.0K $3.851M $3.851M
YoY Change 5.16% -12.28%
Cash From Operating Activities -$3.610M -$1.535M -$1.535M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $385.0K $2.330M $2.330M
YoY Change -38.1% -63.4%
Acquisitions
YoY Change
Other Investing Activities -$24.70M -$339.0K
YoY Change -87809.52% -100.15%
Cash From Investing Activities -$385.0K -$27.03M -$2.669M
YoY Change -102.36% -96083.66% -101.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 678.0K 24.04M -305.0K
YoY Change -104.15% -9630.13% -99.86%
NET CHANGE
Cash From Operating Activities -3.610M -1.535M -1.535M
Cash From Investing Activities -385.0K -27.03M -2.669M
Cash From Financing Activities 678.0K 24.04M -305.0K
Net Change In Cash -3.404M -4.529M -568.0K
YoY Change 20972.18% 1921.51% -3616.16%
FREE CASH FLOW
Cash From Operating Activities -$3.610M -$1.535M -$1.535M
Capital Expenditures $385.0K $2.330M $2.330M
Free Cash Flow -$3.995M -$3.865M -$3.865M
YoY Change 542.28% -39.29%

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GainLossOnSaleOfPropertyPlantEquipment
-82000
CY2023 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
422000
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1668000
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5990000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3369000
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
58000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4390000
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-4179000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-1950000
CY2023 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
593000
CY2022 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
1184000
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-597000
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
929000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
804000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-10441000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5367000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
606000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2562000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-11047000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-7929000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-11047000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-7929000
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2995000
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
444000
CY2023 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-3455000
CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-7083000
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10587000
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-402000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-26530000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-7929000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
444000
CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
7083000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-26932000
us-gaap Net Income Loss
NetIncomeLoss
-13120000
xbp Adjustments To Additional Paid In Capital Transaction Costs Related To Merger
AdjustmentsToAdditionalPaidInCapitalTransactionCostsRelatedToMerger
-297000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
2073000
CY2023Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2995000
CY2023Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
3455000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-12568000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-11047000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Depreciation
Depreciation
3467000
CY2022 us-gaap Depreciation
Depreciation
3779000
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
384000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
616000
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
343000
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
181000
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-597000
CY2023 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
616000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-1550000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
688000
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2123000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4253000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2417000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3834000
CY2023 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-843000
CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
14073000
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2629000
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-7727000
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
67000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
510000
CY2023 xbp Increasedecreaseincustomerdeposits1
Increasedecreaseincustomerdeposits1
-538000
CY2022 xbp Increasedecreaseincustomerdeposits1
Increasedecreaseincustomerdeposits1
-943000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1535000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9890000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2330000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6366000
CY2023 xbp Payments For Cost To Obtain Or Fulfill Contract
PaymentsForCostToObtainOrFulfillContract
339000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2669000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6366000
CY2023 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
87635000
CY2022 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
123079000
CY2023 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
91662000
CY2022 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
124291000
CY2023 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
920000
CY2022 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
829000
CY2023 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
223000
CY2022 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1732000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
786000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1021000
CY2023 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
5205000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-305000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1329000
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3941000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2369000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-568000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4562000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7473000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2910000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6905000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7473000
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1059000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1288000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
1798000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
3028000
CY2023Q4 xbp Minimum Number Of Clients Served By Entity
MinimumNumberOfClientsServedByEntity
2000
CY2023Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
15
CY2023Q4 xbp Number Of Locations In Which Entity Operates
NumberOfLocationsInWhichEntityOperates
32
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
30166102
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates in Preparation of the Consolidated Financial Statements</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Estimates and judgments relied upon in preparing these consolidated financial statements include revenue recognition for multiple element arrangements, allowance for credited losses, inventory obsolescence costs, income taxes, depreciation, amortization, employee benefits, contingencies, goodwill, intangible assets, right of use assets and obligation, pension obligations, pension assets, and asset and liability valuations. The Company regularly assesses these estimates and records changes in estimates in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2023 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
6300000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
30795000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
35977000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
35109000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6004000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5660000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5760000
CY2023Q4 xbp Customer Deposit Current
CustomerDepositCurrent
536000
CY2022Q4 xbp Customer Deposit Current
CustomerDepositCurrent
1061000
CY2021Q4 xbp Customer Deposit Current
CustomerDepositCurrent
2147000
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
350000
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
44000
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
60000
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
11200000
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
9600000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5822000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
53000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
32000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
97000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6004000
CY2023 us-gaap Advertising Expense
AdvertisingExpense
200000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
300000
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
900000
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1100000
CY2023 us-gaap Restructuring Charges
RestructuringCharges
4500000
CY2022 us-gaap Restructuring Charges
RestructuringCharges
300000
CY2023 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
600000
CY2022 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
1200000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6634980
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6634980
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6634980
CY2021 xbp Number Of Warrants Exercised
NumberOfWarrantsExercised
6634980
CY2022 xbp Number Of Warrants Exercised
NumberOfWarrantsExercised
6634980
CY2023 xbp Number Of Warrants Exercised
NumberOfWarrantsExercised
6634980
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-11047000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-7929000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22535920
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22535920
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21802689
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21802689
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents and trade receivables. The Company maintains its cash and cash equivalents and certain other financial instruments with highly rated financial institutions and limits the amount of credit exposure with any one financial institution. From time to time, the Company assesses the credit worthiness of its customers. Credit risk on trade receivables is minimized because of the large number of entities comprising our client base and their dispersion across many industries and geographic areas. The Company generally has not experienced any material losses related to receivables from any individual customer or groups of customers. The Company does not require collateral. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in our accounts receivable, net. The Company does not have any significant customers that account for 10% or more of the total combined revenues.</p>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
929000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
343000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1272000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7182000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
6607000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2442000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2081000
CY2023Q4 us-gaap Inventory Net
InventoryNet
4740000
CY2022Q4 us-gaap Inventory Net
InventoryNet
4526000
CY2023Q4 xbp Allowance For Obsolescence Finished Goods
AllowanceForObsolescenceFinishedGoods
2400000
CY2022Q4 xbp Allowance For Obsolescence Finished Goods
AllowanceForObsolescenceFinishedGoods
2100000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1272000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
929000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
30795000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
35977000
CY2023Q4 xbp Prepaid Postage Current
PrepaidPostageCurrent
1924000
CY2022Q4 xbp Prepaid Postage Current
PrepaidPostageCurrent
2048000
CY2023Q4 us-gaap Government Contract Receivable
GovernmentContractReceivable
1600000
CY2022Q4 us-gaap Government Contract Receivable
GovernmentContractReceivable
3496000
CY2023Q4 us-gaap Retainage Deposit
RetainageDeposit
620000
CY2022Q4 us-gaap Retainage Deposit
RetainageDeposit
493000
CY2023Q4 xbp Prepaid Maintenance Current
PrepaidMaintenanceCurrent
589000
CY2022Q4 xbp Prepaid Maintenance Current
PrepaidMaintenanceCurrent
390000
CY2023Q4 us-gaap Security Deposit
SecurityDeposit
492000
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
340000
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
478000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
2202000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1528000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7427000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8773000
CY2023Q4 xbp Number Of Facilities Owned
NumberOfFacilitiesOwned
2
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6865000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5848000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1941000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1796000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5065000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3963000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
694000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1345000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
638000
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
757000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
23000
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
658000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y5M19D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M28D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y8M15D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M17D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.135
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.069
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
200000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
691000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2733000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
15000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2433000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1854000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1621000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
126000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
706000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8767000
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
45000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1761000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
661000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7006000
CY2023 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
6100000
CY2022 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5400000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
3166000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
4347000
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