Annual report [Section 13 and 15(d), not S-K Item 405]

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Tables)

v3.26.1
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SCHEDULE OF ACCOUNTS RECEIVABLE

Accounts receivable, net is as follows (in thousands):

    2025     2024  
    As of December 31,  
    2025     2024  
Accounts receivable amortized cost   $ 3,083     $ 6,878  
Allowance for credit losses     (1,511 )     (2,616 )
Net accounts receivable   $ 1,572     $ 4,262  
SUMMARIZES THE CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES FOR ACCOUNTS RECEIVABLE

The following table summarizes the changes in the allowance for credit losses for accounts receivable (in thousands):

 

    December 31, 2025     December 31, 2024  
Balance, beginning of period   $ (2,616 )   $ (4,262 )
Provision for expected credit losses, net     (1,974 )     (245 )
Write-offs     3,079       1,891  
Balance, end of period   $ (1,511 )   $ (2,616 )
SCHEDULE OF PROPERTY PLANT AND EQUIPMENT LESS DEPRECIATION AND AMORTIZATION

The following is a summary of our property and equipment, at costs less accumulated depreciation and amortization:

 

(in thousands)   Estimated useful life   2025     2024  
        As of December 31,  
(in thousands)   Estimated useful life   2025     2024  
Furniture, equipment and software     $ 7,879     $ 8,595  
Leasehold improvements   3 - 7 years     33       33  
Work in process   Lesser of lease term or 5 years     —       20  
Property and equipment, gross         7,912       8,648  
Less: accumulated depreciation         7,659       7,228  
Property and equipment, net       $ 253     $ 1,420  
SCHEDULE OF OTHER CURRENT ASSETS

The following table summarizes the composition of other current assets as of the dates indicated:

 

(in thousands)   2025     2024  
    As of December 31,  
(in thousands)   2025     2024  
Other current assets:                
VAT refund receivable (Note 2)   $ 50     $ 43  
Prepaid expenses     1,279       301  
Indemnification receivable, net     7       7  
Customs bonds     500       952  
Other     165       2  
Other current assets   $ 2,001     $ 1,305  
SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

The following table summarizes the composition of accrued expenses and other current liabilities as of the dates indicated:

 

(in thousands)   2025     2024  
    As of December 31,  
(in thousands)   2025     2024  
Accrued expenses and other current liabilities:                
Accrued employee compensation   $ 154     $ 1,052  
Accrued expenses     1,473       166  
Accrued expenses and other current liabilities   $ 1,627     $ 1,218  
SCHEDULE OF CHANGES IN CUSTOMER DEPOSIT LIABILITY

 

(in thousands)   Customer Deposits  
Balance as of December 31, 2023   $ 2,775  
Increases due to deposits received, net of other adjustments     —  
Customer Overpayments     —
Revenue recognized     (114 )
Balance as of December 31, 2024   $ 2,661  
Increases due to deposits received, net of other adjustments     —  
Customer adjustments     (2,329 )
Revenue recognized     332  
Balance as of December 31, 2025   $ —  
SCHEDULE OF COMPONENTS OF ACCUMULATED COMPREHENSIVE INCOME LOSS

The components of accumulated other comprehensive income (loss) for the periods presented were as follows:

 

(in thousands)  

Foreign

Currency

Translation

    

Unrealized Gain

or (Loss) on

Derivative

Instrument

     Total  
Balance at December 31, 2023   $ 245     $ —     $ 245  
Other comprehensive income (loss)     20       —       20  
Less: Other comprehensive (income) loss attributable to non-controlling interest     —       —       —  
Balance at December 31, 2024   $ 265     $ —     $ 265  
Other comprehensive income (loss)     —       —       —  
Less: Other comprehensive (income) loss attributable to non-controlling interest     —       —       —  
Balance at December 31, 2025   $ 265     $ —     $ 265