Annual report pursuant to Section 13 and 15(d)

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Tables)

v3.24.2
SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
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:

 

                 
        As of December 31,  
(in thousands)   Estimated useful life   2023     2022  
Furniture, equipment and software   3 - 7 years   $ 8,570     $ 7,492  
Personal property   5 years     —       —  
Leasehold improvements   Lesser of lease term or 5 years     51       104  
Building   39 years     —       —  
Land         —       —  
Land improvements   15 years     —       —  
Work in process         411       679  
Property and equipment, gross         9,032       8,275  
Less: accumulated depreciation         6,556       4,313  
Property and equipment, net       $ 2,476     $ 3,962  
SCHEDULE OF IDENTIFIED INTANGIBLE ASSETS

Identified intangible assets consisted of the following at the dates indicated below:

 

    As of December 31, 2022  
    Gross carrying amount     Accumulated amortization     Impairment Charge     Carrying value     Estimated useful life
    (in thousands)  
Design libraries   $ 8,710     $ (1,010 )   $ (7,700 )   $ —     7-15 years
Trademarks and tradenames     6,915       (3,361 )     (3,554 )     —     5-15 years
Customer relationships     43,628       (4,666 )     (38,962 )     —     5-15 years
Other intangibles     753       (275 )     (478 )     —     5-15 years
Total finite-lived intangibles     60,006       (9,312 )     (50,694 )     —      
Trademarks     29,500       —       (29,500 )     —     Indefinite
Total indefinite-lived intangibles     29,500       —       (29,500 )     —      
    $ 89,506     $ (9,312 )   $ (80,194 )   $ —      
SCHEDULE OF OTHER CURRENT ASSETS

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

 

             
    As of December 31,  
(in thousands)   2023     2022  
Other current assets:            
Employee retention credit (ERC) receivable   $ —     $ 4,854  
VAT refund receivable (Note 2)     78       143  
Prepaid expenses     1,207       1,293  
Indemnification receivable, net     7       736  
Customs bonds     1,229       1,378  
Other     798       2,716  
Other current assets   $ 3,319     $ 11,120  
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:

 

             
    As of December 31,  
(in thousands)   2023     2022  
Accrued expenses and other current liabilities:            
VAT payable (including amounts related to VAT matter described in Note 2)   $ 313     $ 2,809  
Contingent consideration     1,000       2,738  
Accrued employee compensation     861       3,812  
Amended Eyce APA     —       430  
Accrued expenses     499       818  
Refund liability (including accounts receivable credit balances)     68       329  
Accrued construction in progress (ERP)     —       170  
Sales tax payable     315       578  
Other    

—

       198  
Accrued expenses and other current liabilities   $ 3,056     $ 11,882  
SCHEDULE OF CHANGES IN CUSTOMER DEPOSIT LIABILITY

 

(in thousands)   Customer Deposits  
Balance as of December 31, 2021   $ 7,924  
Increases due to deposits received, net of other adjustments     12,016  
Revenue recognized     (15,957 )
Balance as of December 31, 2022   $ 3,983  
Increases due to deposits received, net of other adjustments     4,191  
Customer Overpayments     220  
Revenue recognized     (5,619 )
Balance as of December 31, 2023   $ 2,775  
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, 2021   $ 282     $ 42     $ 324  
Other comprehensive income (loss)     (211 )     358       147  
Less: Reclassification adjustment for (gain) loss included in net loss (Note 4)     —       (332 )     (332 )
Less: Other comprehensive (income) loss attributable to non-controlling interest     (16 )     (68 )     139  
Balance at December 31, 2022   $ 55     $ —     $ 55  
Other comprehensive income (loss)     190       —       190  
Less: Other comprehensive (income) loss attributable to non-controlling interest     —       —       —  
Balance at December 31, 2023   $ 245     $ —     $ 245