Annual report pursuant to Section 13 and 15(d)

Restatement of Consolidated Financial Statements - Operations (Details)

v3.24.1.1.u2
Restatement of Consolidated Financial Statements - Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Revenue, net:              
Total revenue, net $ 21,010 $ 20,124 $ 18,765 $ 38,889 $ 59,899 $ 73,882 $ 63,964
Cost of goods sold:              
Total cost of goods sold 19,310 16,734 16,251 32,985 52,295 64,818 58,323
Gross profit 1,700 3,390 2,514 5,904 7,604 9,064 5,641
Operating expenses:              
Research and development 633 603 490 1,093 1,726 2,376 3,359
Selling, general and administrative 5,597 5,107 4,919 10,026 15,623 25,148 22,242
Total operating expenses 6,230 5,710 5,409 11,119 17,349 27,524 25,601
Loss from operations (4,530) (2,320) (2,895) (5,215) (9,745) (18,460) (19,960)
Other income (expense) 5 (50) 2 (48) (43) (33) 642
Interest income 42 26 6 32 74 141 21
Interest expense (1,853) (1,305) (1,311) (2,616) (4,469) 6,163 5,004
Loss before provision for income taxes (6,336) (3,649) (4,198) (7,847) (14,183) (24,515) (22,351)
Provision for income taxes   4 2 6 6 7 19
Net loss (6,336) (3,653) (4,200) (7,853) (14,189) (24,522) (22,370)
Less: Deemed dividend on purchase warrant for common shares   97   97 97 97  
Net loss attributable to common stockholders $ (6,336) $ (3,750) $ (4,200) $ (7,950) $ (14,286) $ (24,619) $ (22,370)
Net loss per common share attributable to common stockholders-basic (in dollars per share) $ (0.35) $ (0.22) $ (0.27) $ (0.50) $ (0.85) $ (1.43) $ (1.52)
Net loss per common share attributable to common stockholders-diluted (in dollars per share) $ (0.35) $ (0.22) $ (0.27) $ (0.50) $ (0.85) $ (1.43) $ (1.52)
Weighted average shares used to calculate basic net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824 17,206,000 14,727,000
Weighted average shares used to calculate diluted net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824 17,206,000 14,727,000
Bill and Hold              
Revenue, net:              
Total revenue, net $ 1,596 $ (480) $ 297 $ (183) $ 1,413    
Cost of goods sold:              
Total cost of goods sold 854 (1,215) 914 (301) 553    
Gross profit 742 735 (617) 118 860    
Operating expenses:              
Selling, general and administrative 200       200    
Total operating expenses 200       200    
Loss from operations 542 735 (617) 118 660    
Interest expense 47 51 51 102 149    
Loss before provision for income taxes 589 786 (566) 220 809    
Net loss 589 786 (566) 220 809    
Net loss attributable to common stockholders $ 589 $ 786 $ (566) $ 220 $ 809    
Net loss per common share attributable to common stockholders-basic (in dollars per share) $ 0.03 $ 0.05 $ (0.04) $ 0.01 $ 0.05    
Net loss per common share attributable to common stockholders-diluted (in dollars per share) $ 0.03 $ 0.05 $ (0.04) $ 0.01 $ 0.05    
Weighted average shares used to calculate basic net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824    
Weighted average shares used to calculate diluted net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824    
FPP Contracts              
Revenue, net:              
Total revenue, net $ (192) $ (171) $ (184) $ (355) $ (547)    
Cost of goods sold:              
Total cost of goods sold 1,519 (650) 1,391 741 2,260    
Gross profit (1,711) 479 (1,575) (1,096) (2,807)    
Operating expenses:              
Loss from operations (1,711) 479 (1,575) (1,096) (2,807)    
Loss before provision for income taxes (1,711) 479 (1,575) (1,096) (2,807)    
Net loss (1,711) 479 (1,575) (1,096) (2,807)    
Net loss attributable to common stockholders $ (1,711) $ 479 $ (1,575) $ (1,096) $ (2,807)    
Net loss per common share attributable to common stockholders-basic (in dollars per share) $ (0.09) $ 0.03 $ (0.10) $ (0.07) $ (0.17)    
Net loss per common share attributable to common stockholders-diluted (in dollars per share) $ (0.09) $ 0.03 $ (0.10) $ (0.07) $ (0.17)    
Weighted average shares used to calculate basic net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824    
Weighted average shares used to calculate diluted net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824    
Previously Reported              
Revenue, net:              
Total revenue, net $ 19,606 $ 20,775 $ 18,652 $ 39,427 $ 59,033    
Cost of goods sold:              
Total cost of goods sold 16,937 18,599 13,946 32,545 49,482    
Gross profit 2,669 2,176 4,706 6,882 9,551    
Operating expenses:              
Research and development 633 603 490 1,093 1,726    
Selling, general and administrative 5,397 5,107 4,919 10,026 15,423    
Total operating expenses 6,030 5,710 5,409 11,119 17,149    
Loss from operations (3,361) (3,534) (703) (4,237) (7,598)    
Other income (expense) 5 (50) 2 (48) (43)    
Interest income 42 26 6 32 74    
Interest expense (1,900) (1,356) (1,362) (2,718) (4,618)    
Loss before provision for income taxes (5,214) (4,914) (2,057) (6,971) (12,185)    
Provision for income taxes   4 2 6 6    
Net loss (5,214) (4,918) (2,059) (6,977) (12,191)    
Less: Deemed dividend on purchase warrant for common shares   97   97 97    
Net loss attributable to common stockholders $ (5,214) $ (5,015) $ (2,059) $ (7,074) $ (12,288)    
Net loss per common share attributable to common stockholders-basic (in dollars per share) $ (0.28) $ (0.30) $ (0.13) $ (0.44) $ (0.73)    
Net loss per common share attributable to common stockholders-diluted (in dollars per share) $ (0.28) $ (0.30) $ (0.13) $ (0.44) $ (0.73)    
Weighted average shares used to calculate basic net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824    
Weighted average shares used to calculate diluted net loss per common share attributable to common stockholders (in shares) 18,351 16,785 15,318 16,056 16,824    
Product and accessories              
Revenue, net:              
Total revenue, net $ 11,427 $ 9,594 $ 9,534 $ 19,128 $ 30,555 $ 35,033 $ 32,720
Cost of goods sold:              
Total cost of goods sold 12,467 11,044 9,769 20,813 33,280 39,938 37,106
Product and accessories | Bill and Hold              
Revenue, net:              
Total revenue, net 1,424 (1,009) 367 (642) 782    
Cost of goods sold:              
Total cost of goods sold 837 (1,452) 878 (574) 263    
Product and accessories | Previously Reported              
Revenue, net:              
Total revenue, net 10,003 10,603 9,167 19,770 29,773    
Cost of goods sold:              
Total cost of goods sold 11,630 12,496 8,891 21,387 33,017    
Parts, service and rentals              
Revenue, net:              
Total revenue, net 9,583 10,530 9,231 19,761 29,344 38,849 31,244
Cost of goods sold:              
Total cost of goods sold 6,843 5,690 6,482 12,172 19,015 $ 24,880 $ 21,217
Parts, service and rentals | Bill and Hold              
Revenue, net:              
Total revenue, net 172 529 (70) 459 631    
Cost of goods sold:              
Total cost of goods sold 17 237 36 273 290    
Parts, service and rentals | FPP Contracts              
Revenue, net:              
Total revenue, net (192) (171) (184) (355) (547)    
Cost of goods sold:              
Total cost of goods sold 1,519 (650) 1,391 741 2,260    
Parts, service and rentals | Previously Reported              
Revenue, net:              
Total revenue, net 9,603 10,172 9,485 19,657 29,260    
Cost of goods sold:              
Total cost of goods sold $ 5,307 $ 6,103 $ 5,055 $ 11,158 $ 16,465