Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 8,959 $ 13,213
Accounts receivable, net 25,038 22,433
Non-trade receivable 1,249 2,269
Inventory 4,508 3,910
Prepaid expenses and other current assets 1,697 1,807
Total current assets 41,451 43,632
Property and equipment, net 69 168
Right-of-use assets 258 66
Contract fulfillment assets 7,079 6,848
Other assets 2,944 2,972
Total assets 51,801 53,686
Liabilities and stockholders’ equity    
Current portion of long-term debt 110 147
Accounts payable 20,602 21,126
Accrued expenses 8,706 10,692
Current portion of lease liability 258 66
Deferred revenue 3 31
Total current liabilities 29,679 32,062
Income tax payable 1,431 1,429
Accrued severance 150
Total liabilities 31,110 33,641
Commitments and contingencies (Note 9)
Stockholders’ equity    
Common stock, $0.001 par value per share; 100,000,000 shares authorized: and 40,995,430 and 40,774,687 shares issued and outstanding at March 31, 2023, and December 31, 2022, respectively. 41 41
Preferred stock, $0.001 par value per share, 5,000,000 shares authorized, and no shares issued and outstanding at March 31, 2023, and December 31, 2022, respectively.
Additional paid-in capital 270,293 269,874
Accumulated deficit (249,643) (249,870)
Total stockholders’ equity 20,691 20,045
Total liabilities and stockholders’ equity $ 51,801 $ 53,686