0001753926-25-000847 | 10-Q | XBRL Viewer

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Share-based Compensation - Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at beginning of year \| shares	569,016
Granted \| shares	0
Exercised \| shares	0
Forfeited prior to vesting \| shares	0
Canceled or expired \| shares	0
Options outstanding at end of year \| shares	569,016
Options exercisable at end of year \| shares	345,888
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding at beginning of year \| $ / shares	$ 3.32
Granted \| $ / shares	0
Exercised \| $ / shares	0
Forfeited prior to vesting \| $ / shares	0
Canceled or expired \| $ / shares	0
Options outstanding at end of year \| $ / shares	3.32
Options exercisable at end of year \| $ / shares	$ 5.04

Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Loss Per Share

Schedule of the computation of basic and diluted earnings (loss) per common share

	Three months ended March 31,
	2025			2024
Numerator:
Net loss	$	(2,834	)	$	(1,898	)
Denominator:
Basic weighted average shares outstanding		24,748,551			23,969,148
Dilutive common stock equivalents using treasury stock method		—			—
Diluted weighted average shares outstanding		24,748,551			23,969,148

Basic loss per common share	$	(0.11	)	$	(0.08	)
Diluted loss per common share	$	(0.11	)	$	(0.08	)

Weighted average options and warrants outstanding		5,591,139			6,420,553
Anti-dilutive options and warrants not included in the computation		5,591,139			6,420,553

Operating Segment	3 Months Ended
Operating Segment	Mar. 31, 2025
Operating Segment
Operating Segment	10. Operating Segment The Company operates as one operating segment. Operating segments are defined as components of an entity for which separate financial information is regularly evaluated by the chief operating decision maker ("CODM"), which is the Company's Chief Executive Officer, in deciding how to allocate resources and assess performance. The Company's CODM evaluates financial information and resources and assesses the performance of these resources on a consolidated basis. There is no expense or asset information that is supplemental to information disclosed within the consolidated financial statements, that is regularly provided to the CODM. The allocation of resources and assessment of performance of the operating segment is based on consolidated net loss and functional expenses as reported on our consolidated statements of operations and comprehensive loss. Because the Company operates as one operating segment, financial segment information, including expense and asset information, can be found in the consolidated financial statements.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2025

Intangible Assets

Schedule of intangible assets and estimated useful lives

	Estimated useful lives (years)			March 31, 2025			December 31, 2024
Tradename	5	to	7	$	555		$	555
Patents and technological know-how	10	to	20		7,309			7,298
Proprietary software	3	to	15		2,981			2,981
Other	3	to	5		323			323
Total intangible assets					11,168			11,157
Accumulated amortization					(9,668	)		(9,618	)
Total intangible assets, net				$	1,500		$	1,539

Schedule of amortization of intangible assets

	Three months ended March 31,
	2025		2024
Amortization of intangible assets	$	50	$	110

Schedule of estimated future amortization expense of intangible assets

Years ending December 31,	Amount
2025 (Remainder)	$	154
2026		205
2027		75
2028		30
2029		30
Thereafter		1,006
Total	$	1,500

Leases (Details Textual) - ft²	Mar. 31, 2025	Dec. 01, 2024
Facility to support, research and development activity [Member] \| Gainesville, Florida [Member]
Lessee, Lease, Description [Line Items]
Area of real estate property	1,350
Facility to support, principal administrative, sales, marketing, customer support, and research and product development activity [Member] \| Salt Lake City, Utah [Member]
Lessee, Lease, Description [Line Items]
Area of real estate property	9,402
Facility to support, principal administrative, sales, marketing, customer support, and research and product development activity [Member] \| Chennai, India [Member]
Lessee, Lease, Description [Line Items]
Area of real estate property	6,175
Warehouse to support, primary inventory fulfillment and repair center [Member] \| Salt Lake City, Utah [Member]
Lessee, Lease, Description [Line Items]
Area of real estate property	40,000	2,590

Share-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Stock-based Compensation
Share-based compensation expense	$ 23	$ 26
Cost of goods sold [Member]
Stock-based Compensation
Share-based compensation expense	0	2
Sales and marketing [Member]
Stock-based Compensation
Share-based compensation expense	1	2
Research and product development [Member]
Stock-based Compensation
Share-based compensation expense	4	12
General and administrative [Member]
Stock-based Compensation
Share-based compensation expense	$ 18	$ 10

Revenue Information - Revenue into Primary Product Groups and Major Regions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Revenue [Line Items]
Revenue	$ 2,313	$ 3,622
North and South America [Member]
Revenue [Line Items]
Revenue	960	1,094
Asia Pacific (includes Middle East, India and Australia)
Revenue [Line Items]
Revenue	1,188	2,000
Europe and Africa [Member]
Revenue [Line Items]
Revenue	165	528
Audio conferencing [Member]
Revenue [Line Items]
Revenue	953	1,523
Microphones [Member]
Revenue [Line Items]
Revenue	1,118	1,571
Video products [Member]
Revenue [Line Items]
Revenue	$ 242	$ 528

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

Leases

3 Months Ended

Mar. 31, 2025

Leases

Leases

6. Leases

Rent expense is recognized on a straight-line basis over the period of the lease taking into account future rent escalation and holiday periods.

Rent expense for three months ended March 31, 2025 and 2024 was as follows:

	Three months ended March 31,
	2025		2024
Rent expense	$	112	$	109

The Company occupies a 1,350 square-foot facility in Gainesville, Florida under the terms of an operating lease expiring in February 2028. The Gainesville facility is used primarily to support the Company's research and development activities.

The Company occupies a 9,402 square-foot facility in Salt Lake City, Utah under the terms of an operating lease expiring in February 2028. The facility supports the Company's principal administrative, sales, marketing, customer support, and research and product development activities.

We occupy a 6,175 square-foot facility in Chennai, India under the terms of an operating lease expiring in September 2025. This facility supports our administrative, marketing, customer support, and research and product development activities.

We occupied a 40,000 square-foot warehouse in Salt Lake City, Utah under the terms of an operating lease expiring in April 2025, which served as our primary inventory fulfillment center. This lease was cancelled on January 31, 2025.

We entered into a new lease on December 1, 2024 to occupy a 2,590 square-foot warehouse in Salt Lake City Utah. The lease is an operating lease expiring in February 2028. This facility serves as our primary warranty and repair center.

Supplemental cash flow information related to leases was as follows:

	Three months ended March 31,
	2025			2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(92	)	$	(115	)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	—		$	—

Supplemental balance sheet information related to leases was as follows:

	March 31, 2025			December 31, 2024
Operating lease right-of-use assets	$	672		$	750

Current portion of operating lease liabilities, included in accrued liabilities	$	231		$	257
Operating lease liabilities, net of current portion		460			514
Total operating lease liabilities	$	691		$	771

Weighted average remaining lease term for operating leases (in years)		2.84			2.99
Weighted average discount rate for operating leases		6.65	%		6.59	%

The following represents maturities of operating lease liabilities as of March 31, 2025:

Years ending December 31,
2025 (Remainder)	$	208
2026		251
2027		259
2028		44
2029		—
Total lease payments		762
Less: Imputed interest		71
Total	$	691

Income Taxes (Details - Textual) $ in Thousands	Mar. 31, 2025 USD ($)
Income Taxes
Uncertain tax positions	$ 969

Leases - Rent Expense (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Rent Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Leases
Rent expense	$ 112	$ 109

Inventories - Inventories, Net of Reserves (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current:
Raw materials	$ 2,279	$ 2,424
Finished goods	7,587	8,800
Total current inventory	9,866	11,224
Long-term:
Raw materials	1,248	1,112
Finished goods	3,657	3,808
Total long-term inventory	$ 4,905	$ 4,920

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2025	May 15, 2025
Cover [Abstract]
Entity Registrant Name	CLEARONE INC
Entity Central Index Key	0000840715
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		25,992,995
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2025
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.001
Trading Symbol	CLRO
Security Exchange Name	NASDAQ
Entity File Number	001-33660
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	5225 Wiley Post Way, Suite 500
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84116
Entity Tax Identification Number	87-0398877
City Area Code	(801)
Local Phone Number	975-7200
Document Quarterly Report	true
Document Transition Report	false

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Leases
Operating lease right-of-use assets	$ 672	$ 750
Operating lease liabilities:
Current portion of operating lease liabilities, included in accrued liabilities	231	257
Operating lease liabilities, net of current portion	460	514
Total operating lease liabilities	$ 691	$ 771
Weighted average remaining lease term for operating leases (in years)	2 years 10 months 2 days	2 years 11 months 26 days
Weighted average discount rate for operating leases	6.65%	6.59%

Intangible Assets

3 Months Ended

Mar. 31, 2025

Intangible Assets

Intangible Assets

4. Intangible Assets

Intangible assets as of March 31, 2025 and December 31, 2024 consisted of the following:

	Estimated useful lives (years)			March 31, 2025			December 31, 2024
Tradename	5	to	7	$	555		$	555
Patents and technological know-how	10	to	20		7,309			7,298
Proprietary software	3	to	15		2,981			2,981
Other	3	to	5		323			323
Total intangible assets					11,168			11,157
Accumulated amortization					(9,668	)		(9,618	)
Total intangible assets, net				$	1,500		$	1,539

The amortization of intangible assets for three months ended March 31, 2025 and 2024 was as follows:

	Three months ended March 31,
	2025		2024
Amortization of intangible assets	$	50	$	110

The estimated future amortization expense of intangible assets is as follows:

Years ending December 31,	Amount
2025 (Remainder)	$	154
2026		205
2027		75
2028		30
2029		30
Thereafter		1,006
Total	$	1,500

Operating Segment (Details - Textual)	3 Months Ended
Operating Segment (Details - Textual)	Mar. 31, 2025 Number
Operating Segment
Number of Operating Segments	1

Intangible Assets - Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Intangible Assets
Amortization of intangible assets	$ 50	$ 110

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ (92)	$ (115)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 0	$ 0

Shareholders' Equity - Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 21,331
Foreign currency translation adjustment	(13)	$ (2)
Net loss	(2,834)	(1,898)
Balance, end of period	19,514	28,344
Common stock and additional paid-in capital [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	31,696	46,071
Dividends declared	0	(14,496)
Issuance of common stock, net	1,000	0
Share-based compensation expense	23	26
Proceeds from employee stock purchase plan	7	7
Balance, end of period	32,726	31,608
Accumulated other comprehensive loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(306)	(310)
Unrealized loss on available-for-sale securities, net of tax	0	22
Foreign currency translation adjustment	(13)	(2)
Balance, end of period	(319)	(290)
Accumulated deficit [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(10,059)	(1,076)
Net loss	(2,834)	(1,898)
Balance, end of period	$ (12,893)	$ (2,974)

Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Intangible Assets
2025 (Remainder)	$ 154
2026	205
2027	75
2028	30
2029	30
Thereafter	1,006
Total intangible assets, net	$ 1,500	$ 1,539

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 411	$ 405
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	25,992,995	23,992,995
Common stock, shares outstanding (in shares)	25,992,995	23,992,995

Shareholders' Equity

3 Months Ended

Mar. 31, 2025

Shareholders' Equity

Shareholders' Equity

7. Shareholders' Equity

	Three months ended March 31,
	2025			2024
Common stock and additional paid-in capital
Balance, beginning of period	$	31,696		$	46,071
Dividends declared		—			(14,496	)
Issuance of common stock, net		1,000			—
Share-based compensation expense		23			26
Proceeds from employee stock purchase plan		7			7
Balance, end of period	$	32,726		$	31,608

Accumulated other comprehensive loss
Balance, beginning of period	$	(306	)	$	(310	)
Unrealized loss on available-for-sale securities, net of tax		—			22
Foreign currency translation adjustment		(13	)		(2	)
Balance, end of period	$	(319	)	$	(290	)

Accumulated deficit
Balance, beginning of period	$	(10,059	)	$	(1,076	)
Net loss		(2,834	)		(1,898	)
Balance, end of period	$	(12,893	)	$	(2,974	)

Total shareholders' equity	$	19,514		$	28,344

Issue of Common Stock

On February 26, 2025 the Company entered into a securities purchase agreement with Edward D. Bagley, pursuant to which the Company agreed to issue and sell, in a private placement at-the-market offering of 2,000,000 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $0.50 per share of Common Stock. The Company received $1,000 in cash in connection with the sale. Mr. Bagley is an affiliate of the Company and the Company’s single largest stockholder

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (g)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases

Schedule of rent expense

	Three months ended March 31,
	2025		2024
Rent expense	$	112	$	109

Schedule of Supplemental cash flow and balance sheet information related to leases

	Three months ended March 31,
	2025			2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(92	)	$	(115	)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	—		$	—

	March 31, 2025			December 31, 2024
Operating lease right-of-use assets	$	672		$	750

Current portion of operating lease liabilities, included in accrued liabilities	$	231		$	257
Operating lease liabilities, net of current portion		460			514
Total operating lease liabilities	$	691		$	771

Weighted average remaining lease term for operating leases (in years)		2.84			2.99
Weighted average discount rate for operating leases		6.65	%		6.59	%

Schedule of maturities of operating lease liabilities

Years ending December 31,
2025 (Remainder)	$	208
2026		251
2027		259
2028		44
2029		—
Total lease payments		762
Less: Imputed interest		71
Total	$	691

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash flows from operating activities:
Net loss	$ (2,834)	$ (1,898)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense	125	167
Amortization of right-of-use assets	78	92
Share-based compensation expense	23	26
Provision for doubtful accounts, net	6	0
Change of inventory to net realizable value	272	193
Gain on sale of capitalized assets	(9)	0
Gain on sale of marketable securities	0	(47)
Changes in operating assets and liabilities:
Receivables	293	4,485
Inventories	1,101	(2,020)
Prepaid expenses and other assets	(421)	61
Accounts payable	105	(211)
Accrued liabilities	(75)	(321)
Income taxes receivable	(18)	9
Deferred product revenue	(5)	(4)
Operating lease liabilities	(80)	(99)
Net cash provided by (used in) operating activities	(1,439)	433
Cash flows from investing activities:
Purchase of property and equipment	(17)	(69)
Purchase of intangibles	(13)	(36)
Proceeds from maturities and sales of marketable securities	0	2,325
Proceeds from sale of capitalized assets	12	0
Purchases of marketable securities	0	(1,947)
Net cash provided by (used in) investing activities	(18)	273
Cash flows from financing activities:
Net proceeds from equity-based compensation programs	7	7
Proceeds from sale of shares	1,000	0
Net cash provided by financing activities	1,007	7
Effect of exchange rate changes on cash and cash equivalents	(6)	(4)
Net increase (decrease) in cash and cash equivalents	(456)	709
Cash and cash equivalents at the beginning of the period	1,417	17,835
Cash and cash equivalents at the end of the period	961	18,544
The following is a summary of supplemental cash flow activities:
Cash paid for income taxes	0	(12)
Cash paid for interest	$ 0	$ 0

Share-based Compensation (Details Textual) $ in Thousands	3 Months Ended
Share-based Compensation (Details Textual) $ in Thousands	Mar. 31, 2025 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options, net of forfeitures	$ 88
Unrecognized compensation cost related to non-vested stock options, net of forfeitures, weighted average period	1 year 4 months 6 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-based Compensation

Schedule of stock option activity

	Number of shares		Weighted average exercise price
Options outstanding at beginning of year		569,016	$	3.32
Granted		—		—
Less:
Exercised		—		—
Forfeited prior to vesting		—		—
Canceled or expired		—		—
Options outstanding at March 31, 2025		569,016		3.32
Options exercisable at end of March 31, 2025		345,888	$	5.04

Schedule of share-based compensation expense

	Three months ended March 31,
	2025		2024
Cost of goods sold	$	—	$	2
Sales and marketing		1		2
Research and product development		4		12
General and administrative		18		10
	$	23	$	26

Inventories

3 Months Ended

Mar. 31, 2025

Inventories

Inventories

5. Inventories

Inventories, net of reserves, as of March 31, 2025 and December 31, 2024 consisted of the following:

	March 31, 2025		December 31, 2024
Current:
Raw materials	$	2,279	$	2,424
Finished goods		7,587		8,800
	$	9,866	$	11,224

Long-term:
Raw materials	$	1,248	$	1,112
Finished goods		3,657		3,808
	$	4,905	$	4,920

Long-term inventory represents inventory held in excess of our current (next 12 months) requirements based on our recent sales and forecasted level of sales. We expect to sell the above inventory, net of reserves, at or above the stated cost and believe that no loss will be incurred on its sale, although there can be no assurance of the timing or amount of any sales.

Net loss incurred on valuation of inventory at lower of cost or net realizable value and write-off of obsolete inventory for three months ended March 31, 2025 and 2024 was as follows:

	Three months ended March 31,
	2025		2024
Net loss incurred on valuation of inventory at lower of cost or net realizable value and write-off of obsolete inventory	$	272	$	193

Loss Per Share - Computation of Basic and Diluted Earnings (Loss) per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Numerator:
Net loss	$ (2,834)	$ (1,898)
Denominator:
Basic weighted average shares outstanding (in shares)	24,748,551	23,969,148
Dilutive common stock equivalents using treasury stock method (in shares)	0	0
Diluted weighted average shares outstanding (in shares)	24,748,551	23,969,148
Basic loss per common share (in dollars per share)	$ (0.11)	$ (0.08)
Diluted loss per common share (in dollars per share)	$ (0.11)	$ (0.08)
Weighted average options and warrants outstanding	5,591,139	6,420,553
Anti-dilutive options and warrants not included in the computation	5,591,139	6,420,553

Business Description, Basis of Presentation and Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2025	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Loss Contingencies [Line Items]
Cash and cash equivalents		$ 961		$ 1,417
Working capital		13,537
Net cash provided by operating activities		(1,439)	$ 433
decrease of cash used in operating activities		(1,796)	433
Proceeds from Issuance of Private Placement	$ 1,000	$ 1,000	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Share-Based Compensation

3 Months Ended

Mar. 31, 2025

Share-based Compensation

Share-based Compensation

8. Share-based Compensation

The Company uses judgment in determining the fair value of the share-based payments on the date of grant using an option-pricing model with assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the risk-free interest rate of the awards, the expected life of the awards, the expected volatility over the term of the awards, and the expected dividends of the awards. The Company uses the Black-Scholes option pricing model to determine the fair value of share-based payments granted under the guidelines of ASC Topic 718.

A summary of the stock option activity under the Company’s plans for the three months ended March 31, 2025, is as follows:

	Number of shares		Weighted average exercise price
Options outstanding at beginning of year		569,016	$	3.32
Granted		—		—
Less:
Exercised		—		—
Forfeited prior to vesting		—		—
Canceled or expired		—		—
Options outstanding at March 31, 2025		569,016		3.32
Options exercisable at end of March 31, 2025		345,888	$	5.04

As of March 31, 2025, the total remaining unrecognized compensation cost related to non-vested stock options, net of forfeitures, was approximately $88, which will be recognized over a weighted average period of 1.35 years.

Share based compensation expense has been recorded as follows:

	Three months ended March 31,
	2025		2024
Cost of goods sold	$	—	$	2
Sales and marketing		1		2
Research and product development		4		12
General and administrative		18		10
	$	23	$	26

Shareholders' Equity - (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended
	Feb. 26, 2025	Feb. 28, 2025	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Shareholders' Equity
Common stock, par value (in dollars per share)			$ 0.001		$ 0.001
Sale of Stock, Number of Shares Issued in Transaction	2,000,000
Proceeds from Issuance of Private Placement		$ 1,000	$ 1,000	$ 0
Common Stock \| Securities Purchase Agreement \| Edward D. Bagley \| Private Placement
Shareholders' Equity
Common stock, par value (in dollars per share)	$ 0.001
Sale of Stock, Price Per Share	$ 0.5
Proceeds from Issuance of Private Placement	$ 1,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-Subparagraph (SX 210.4-08(d))
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Description, Basis of Presentation and Significant Accounting Policies

3 Months Ended

Mar. 31, 2025

Business Description, Basis of Presentation and Significant Accounting Policies

Business Description, Basis of Presentation and Significant Accounting Policies

1. Business Description, Basis of Presentation and Significant Accounting Policies

Business Description:

ClearOne, Inc., together with its subsidiaries (collectively, “ClearOne” or the “Company”), is a global market leader enabling conferencing, collaboration, and AV streaming solutions for voice and visual communications. The performance and simplicity of our advanced, comprehensive solutions offer unprecedented levels of functionality, reliability and scalability.

Going Concern:

As of March 31, 2025, our cash and cash equivalents were approximately $961 compared to $1,417 as of December 31, 2024. Our working capital was $13,537 as of March 31, 2025. Net cash used in operating activities was $1,439 for the three months ended March 31, 2025, a decrease of $1,796 compared to $433 of cash provided by operating activities for the three months ended March 31, 2024. The decrease in cash is mainly due to a decrease in cash collected from receivables. These and other conditions raise substantial doubt about continuing as a going concern. We will need to complete one or more strategic transactions or raise additional working capital to continue our normal and planned operations. We will need to generate and sustain significant revenue levels in future periods to become profitable, and, even if we do, we may not be able to maintain or increase our level of profitability. In addition, as a public company, we will incur accounting, legal and other expenses. These expenditures will make it necessary for us to continue to raise additional working capital. Our efforts to grow our business may be costlier than we expect, and we may not be able to generate sufficient revenue to offset our increased operating expenses. We may incur significant losses in the future for a number of reasons, including unforeseen expenses, difficulties, complications and delays and other unknown events. Accordingly, substantial doubt exists about our ability to continue as a going concern and we cannot assure you that we will achieve sustainable operating profits as we continue to expand our business and otherwise implement our growth initiatives. In February 2025, the Company raised $1,000 in a private placement transaction. We may be unable to complete a strategic transaction within a reasonable timeframe, on attractive terms or at all, and market conditions, including the historical volatility in our common stock will likely limit our ability to raise capital on favorable terms, or at all, and the terms of any public or private offerings of debt or equity securities likely would be significantly dilutive to existing stockholders. There is no set timetable for the overall process given the anticipated timelines for different strategic alternatives may vary, and there can be no assurance that this process will result in us pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms or at all. The Company’s ability to continue as a going concern is dependent on the outcome of these uncertainties.

As a result, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for 12 months from the date these consolidated financial statements are issued. The consolidated financial statements as of March 31, 2025 have been prepared under the assumption that the Company will continue as a going concern for the next 12 months after these financial statements are issued, and that contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. These Consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis of Presentation:

The fiscal year for ClearOne is the twelve months ending on December 31. The condensed consolidated financial statements include the accounts of ClearOne and its subsidiaries. All significant inter-company accounts and transactions have been eliminated.

These accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and are not audited. Certain information and footnote disclosures that are usually included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been either condensed or omitted in accordance with SEC rules and regulations. The accompanying condensed consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of our financial position as of March 31, 2025 and December 31, 2024, the results of operations for the three months ended March 31, 2025 and 2024, and the cash flows for the three months ended March 31, 2025 and 2024. The results of operations for the three months ended March 31, 2025 and 2024 are not necessarily indicative of the results for a full-year period. These interim unaudited condensed consolidated financial statements should be read in conjunction with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC.

Significant Accounting Policies:

The significant accounting policies were described in Note 1 to the audited consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2024. There have been no changes to these policies during the quarter ended March 31, 2025 that are of significance or potential significance to the Company.

Recent accounting pronouncements:

ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The standard is effective for full year 2024 reporting, and for interim reporting beginning in 2025. The adoption of this ASU did not change the way the Company evaluates its reportable segments and, as a result, did not have a material impact on the Company’s segment-related disclosures.

ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” on the topic of income taxes. The standard requires additional disclosure for income taxes. These requirements include: (i) requiring a public entity to disclose specific categories in the rate reconciliation; (ii) disclosure of additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5% of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate); (iii) annual disclosure of the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes; (iv) annual disclosure of the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5% of total income taxes paid (net of refunds received); (v) annual disclosure of income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign; and (vi) annual disclosure of income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. For public entities, the guidance is effective for annual periods beginning after December 15, 2024. The Company will adopt this guidance in fiscal 2025 and is in the process of evaluating the new requirements. As a result, the Company has not yet determined the impact this new ASU will have on its disclosures.

ASU 2024-03, Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU No. 2024-03, "Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses," which requires public business entities, such as the Company, to provide disaggregated disclosure of specific natural expense categories underlying certain income statement expense line items in the notes to the financial statements. The standard identifies five required natural expense categories for disaggregation—employee compensation, depreciation, amortization, inventory expense, and other manufacturing expenses—along with a residual "other" category for remaining amounts within relevant expense captions (e.g., cost of sales, selling, general and administrative expenses). ASU 2024-03 does not alter the expense captions presented on the face of the income statement but enhances footnote disclosures to improve transparency. The standard is effective for annual periods beginning after December 15, 2026, with early adoption permitted, and must be applied prospectively, though retrospective application is optional. An update in ASU 2025-01 clarified that interim period disclosures are not required until annual periods beginning after December 15, 2027. The Company is in the process of evaluating the impact of ASU 2024-03 on its consolidated financial statements. We expect adoption to necessitate modifications to our financial reporting processes and systems to capture and disclose the required disaggregated expense information in the footnotes. Management anticipates that this will enhance the granularity of expense disclosures but does not expect a material effect on our reported financial position or results of operations. We are reviewing our current expense classification practices and data collection capabilities to ensure compliance with the new requirements upon adoption.

The Company has determined that recently issued accounting standards, other than the above discussed, will not have a material impact on its consolidated financial position, results of operations or cash flows.

Revenue Information (Tables)

3 Months Ended

Mar. 31, 2025

Revenue Information

Schedule disaggregates the Company’s revenue into primary product groups and major regions

	Three months ended March 31,
	2025		2024
Audio conferencing	$	953	$	1,523
Microphones		1,118		1,571
Video products		242		528
	$	2,313	$	3,622

	Three months ended March 31,
	2025		2024
North and South America	$	960	$	1,094
Asia Pacific (includes Middle East, India and Australia)		1,188		2,000
Europe and Africa		165		528
	$	2,313	$	3,622

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 961	$ 1,417
Receivables, net of allowance of $411 and $405	1,909	2,208
Inventories, net	9,866	11,224
Income tax receivable	27	10
Prepaid expenses and other assets	4,324	3,894
Total current assets	17,087	18,753
Long-term inventories, net	4,905	4,920
Property and equipment, net	442	500
Operating lease - right of use assets, net	672	750
Intangibles, net	1,500	1,539
Other assets	73	82
Total assets	24,679	26,544
Current liabilities:
Accounts payable	1,910	1,804
Accrued liabilities	1,628	1,724
Deferred product revenue	12	17
Total current liabilities	3,550	3,545
Operating lease liability, net of current	460	514
Other long-term liabilities	1,155	1,154
Total liabilities	5,165	5,213
Shareholders' equity:
Common stock, par value $0.001, 50,000,000 shares authorized, 25,992,995 and 23,992,995 shares issued and outstanding, respectively	26	24
Additional paid-in capital	32,700	31,672
Accumulated other comprehensive loss	(319)	(306)
Accumulated deficit	(12,893)	(10,059)
Total shareholders' equity	19,514	21,331
Total liabilities and shareholders' equity	$ 24,679	$ 26,544

Inventories - Net loss incurred on valuation of inventory (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Inventories
Net loss incurred on valuation of inventory at lower of cost or net realizable value and write-off of obsolete inventory	$ 272	$ 193

Revenue Information

3 Months Ended

Mar. 31, 2025

Revenue Information

Revenue Information

2. Revenue Information

The following table disaggregates the Company’s revenue into primary product groups:

	Three months ended March 31,
	2025		2024
Audio conferencing	$	953	$	1,523
Microphones		1,118		1,571
Video products		242		528
	$	2,313	$	3,622

The following table disaggregates the Company’s revenue into major regions:

	Three months ended March 31,
	2025		2024
North and South America	$	960	$	1,094
Asia Pacific (includes Middle East, India and Australia)		1,188		2,000
Europe and Africa		165		528
	$	2,313	$	3,622

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Leases
2025 (Remainder)	$ 208
2026	251
2027	259
2028	44
2029	0
Total lease payments	762
Less: Imputed interest	71
Total	$ 691	$ 771

Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 11,168	$ 11,157
Accumulated amortization	(9,668)	(9,618)
Total intangible assets, net	1,500	1,539
Tradename [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 555	555
Tradename [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	5 years
Tradename [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	7 years
Patents and technological know-how [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 7,309	7,298
Patents and technological know-how [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	10 years
Patents and technological know-how [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	20 years
Proprietary software [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 2,981	2,981
Proprietary software [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	3 years
Proprietary software [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	15 years
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 323	$ 323
Other [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	3 years
Other [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (in years)	5 years

Business Description, Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2025
Business Description, Basis of Presentation and Significant Accounting Policies
Going Concern:	Going Concern: As of March 31, 2025, our cash and cash equivalents were approximately $961 compared to $1,417 as of December 31, 2024. Our working capital was $13,537 as of March 31, 2025. Net cash used in operating activities was $1,439 for the three months ended March 31, 2025, a decrease of $1,796 compared to $433 of cash provided by operating activities for the three months ended March 31, 2024. The decrease in cash is mainly due to a decrease in cash collected from receivables. These and other conditions raise substantial doubt about continuing as a going concern. We will need to complete one or more strategic transactions or raise additional working capital to continue our normal and planned operations. We will need to generate and sustain significant revenue levels in future periods to become profitable, and, even if we do, we may not be able to maintain or increase our level of profitability. In addition, as a public company, we will incur accounting, legal and other expenses. These expenditures will make it necessary for us to continue to raise additional working capital. Our efforts to grow our business may be costlier than we expect, and we may not be able to generate sufficient revenue to offset our increased operating expenses. We may incur significant losses in the future for a number of reasons, including unforeseen expenses, difficulties, complications and delays and other unknown events. Accordingly, substantial doubt exists about our ability to continue as a going concern and we cannot assure you that we will achieve sustainable operating profits as we continue to expand our business and otherwise implement our growth initiatives. In February 2025, the Company raised $1,000 in a private placement transaction. We may be unable to complete a strategic transaction within a reasonable timeframe, on attractive terms or at all, and market conditions, including the historical volatility in our common stock will likely limit our ability to raise capital on favorable terms, or at all, and the terms of any public or private offerings of debt or equity securities likely would be significantly dilutive to existing stockholders. There is no set timetable for the overall process given the anticipated timelines for different strategic alternatives may vary, and there can be no assurance that this process will result in us pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms or at all. The Company’s ability to continue as a going concern is dependent on the outcome of these uncertainties. As a result, management has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for 12 months from the date these consolidated financial statements are issued. The consolidated financial statements as of March 31, 2025 have been prepared under the assumption that the Company will continue as a going concern for the next 12 months after these financial statements are issued, and that contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. These Consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Basis of Presentation:	Basis of Presentation: The fiscal year for ClearOne is the twelve months ending on December 31. The condensed consolidated financial statements include the accounts of ClearOne and its subsidiaries. All significant inter-company accounts and transactions have been eliminated. These accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and are not audited. Certain information and footnote disclosures that are usually included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been either condensed or omitted in accordance with SEC rules and regulations. The accompanying condensed consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of our financial position as of March 31, 2025 and December 31, 2024, the results of operations for the three months ended March 31, 2025 and 2024, and the cash flows for the three months ended March 31, 2025 and 2024. The results of operations for the three months ended March 31, 2025 and 2024 are not necessarily indicative of the results for a full-year period. These interim unaudited condensed consolidated financial statements should be read in conjunction with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC.
Significant Accounting Policies:	Significant Accounting Policies: The significant accounting policies were described in Note 1 to the audited consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2024. There have been no changes to these policies during the quarter ended March 31, 2025 that are of significance or potential significance to the Company.
Recent accounting pronouncements:	Recent accounting pronouncements: ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The standard is effective for full year 2024 reporting, and for interim reporting beginning in 2025. The adoption of this ASU did not change the way the Company evaluates its reportable segments and, as a result, did not have a material impact on the Company’s segment-related disclosures. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” on the topic of income taxes. The standard requires additional disclosure for income taxes. These requirements include: (i) requiring a public entity to disclose specific categories in the rate reconciliation; (ii) disclosure of additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5% of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate); (iii) annual disclosure of the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes; (iv) annual disclosure of the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5% of total income taxes paid (net of refunds received); (v) annual disclosure of income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign; and (vi) annual disclosure of income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. For public entities, the guidance is effective for annual periods beginning after December 15, 2024. The Company will adopt this guidance in fiscal 2025 and is in the process of evaluating the new requirements. As a result, the Company has not yet determined the impact this new ASU will have on its disclosures. ASU 2024-03, Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU No. 2024-03, "Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses," which requires public business entities, such as the Company, to provide disaggregated disclosure of specific natural expense categories underlying certain income statement expense line items in the notes to the financial statements. The standard identifies five required natural expense categories for disaggregation—employee compensation, depreciation, amortization, inventory expense, and other manufacturing expenses—along with a residual "other" category for remaining amounts within relevant expense captions (e.g., cost of sales, selling, general and administrative expenses). ASU 2024-03 does not alter the expense captions presented on the face of the income statement but enhances footnote disclosures to improve transparency. The standard is effective for annual periods beginning after December 15, 2026, with early adoption permitted, and must be applied prospectively, though retrospective application is optional. An update in ASU 2025-01 clarified that interim period disclosures are not required until annual periods beginning after December 15, 2027. The Company is in the process of evaluating the impact of ASU 2024-03 on its consolidated financial statements. We expect adoption to necessitate modifications to our financial reporting processes and systems to capture and disclose the required disaggregated expense information in the footnotes. Management anticipates that this will enhance the granularity of expense disclosures but does not expect a material effect on our reported financial position or results of operations. We are reviewing our current expense classification practices and data collection capabilities to ensure compliance with the new requirements upon adoption. The Company has determined that recently issued accounting standards, other than the above discussed, will not have a material impact on its consolidated financial position, results of operations or cash flows.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Income Statement [Abstract]
Revenue	$ 2,313	$ 3,622
Cost of goods sold	2,192	2,471
Gross profit	121	1,151
Operating expenses:
Sales and marketing	1,116	1,312
Research and product development	691	894
General and administrative	1,160	1,023
Total operating expenses	2,967	3,229
Operating loss	(2,846)	(2,078)
Interest income (expense)	0	0
Other income, net	12	178
Loss before income taxes	(2,834)	(1,900)
Provision (benefit) for income taxes	0	(2)
Net loss	$ (2,834)	$ (1,898)
Basic weighted average shares outstanding (in shares)	24,748,551	23,969,148
Diluted weighted average shares outstanding (in shares)	24,748,551	23,969,148
Basic loss per share (in dollars per share)	$ (0.11)	$ (0.08)
Diluted loss per share (in dollars per share)	$ (0.11)	$ (0.08)
Comprehensive loss:
Net loss	$ (2,834)	$ (1,898)
Unrealized gain on available-for-sale securities, net of tax	0	22
Change in foreign currency translation adjustment	(13)	(2)
Comprehensive loss	$ (2,847)	$ (1,878)

Loss Per Share

3 Months Ended

Mar. 31, 2025

Loss Per Share

Loss Per Share

3. Loss Per Share

Loss per common share is computed based on the weighted-average number of common shares outstanding and, when appropriate, dilutive potential common stock outstanding during the period. Stock options, warrants and the convertible portion of senior convertible notes are considered to be potential common stock. The computation of diluted loss per share does not assume exercise or conversion of securities that would have an anti-dilutive effect.

Basic loss per common share is the amount of net loss for the period available to each weighted-average share of common stock outstanding during the reporting period. Diluted loss per common share is the amount of loss for the period available to each weighted-average share of common stock outstanding during the reporting period and to each share of potential common stock outstanding during the period, unless inclusion of potential common stock would have an anti-dilutive effect.

The following table sets forth the computation of basic and diluted loss per common share:

	Three months ended March 31,
	2025			2024
Numerator:
Net loss	$	(2,834	)	$	(1,898	)
Denominator:
Basic weighted average shares outstanding		24,748,551			23,969,148
Dilutive common stock equivalents using treasury stock method		—			—
Diluted weighted average shares outstanding		24,748,551			23,969,148

Basic loss per common share	$	(0.11	)	$	(0.08	)
Diluted loss per common share	$	(0.11	)	$	(0.08	)

Weighted average options and warrants outstanding		5,591,139			6,420,553
Anti-dilutive options and warrants not included in the computation		5,591,139			6,420,553

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2025

Shareholders' Equity

Schedule of changes in stockholders' equity

	Three months ended March 31,
	2025			2024
Common stock and additional paid-in capital
Balance, beginning of period	$	31,696		$	46,071
Dividends declared		—			(14,496	)
Issuance of common stock, net		1,000			—
Share-based compensation expense		23			26
Proceeds from employee stock purchase plan		7			7
Balance, end of period	$	32,726		$	31,608

Accumulated other comprehensive loss
Balance, beginning of period	$	(306	)	$	(310	)
Unrealized loss on available-for-sale securities, net of tax		—			22
Foreign currency translation adjustment		(13	)		(2	)
Balance, end of period	$	(319	)	$	(290	)

Accumulated deficit
Balance, beginning of period	$	(10,059	)	$	(1,076	)
Net loss		(2,834	)		(1,898	)
Balance, end of period	$	(12,893	)	$	(2,974	)

Total shareholders' equity	$	19,514		$	28,344

Income Taxes

3 Months Ended

Mar. 31, 2025

Income Taxes

Income Taxes

9. Income Taxes

The Company recorded a full valuation allowance against U.S Federal and State deferred tax assets, which results in no income tax benefit for losses in these jurisdictions. The full domestic valuation allowance was recorded as management concluded that it is more likely than not that these deferred tax assets are not realizable due to the Company's recent pre-tax losses and other sources of negative evidence. Provision for income taxes for the three months ended March 31, 2025 mostly represents income tax expense (benefit) recorded for jurisdictions outside the United States.

The Company had approximately $969 of uncertain tax positions as of March 31, 2025. Due to the inherent uncertainty of the underlying tax positions, it is not possible to forecast the payment of this liability for any particular year, therefore, it is reflected in other long-term liabilities.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
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-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 12C
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Inventories (Tables)

3 Months Ended

Mar. 31, 2025

Inventories

Schedule of Inventories, net of reserves

	March 31, 2025		December 31, 2024
Current:
Raw materials	$	2,279	$	2,424
Finished goods		7,587		8,800
	$	9,866	$	11,224

Long-term:
Raw materials	$	1,248	$	1,112
Finished goods		3,657		3,808
	$	4,905	$	4,920

Schedule of net loss incurred on valuation of inventory at lower of cost or market value and write-off of obsolete inventory

	Three months ended March 31,
	2025		2024
Net loss incurred on valuation of inventory at lower of cost or net realizable value and write-off of obsolete inventory	$	272	$	193

Share-based Compensation - Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at beginning of year \| shares	569,016
Granted \| shares	0
Exercised \| shares	0
Forfeited prior to vesting \| shares	0
Canceled or expired \| shares	0
Options outstanding at end of year \| shares	569,016
Options exercisable at end of year \| shares	345,888
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding at beginning of year \| $ / shares	$ 3.32
Granted \| $ / shares	0
Exercised \| $ / shares	0
Forfeited prior to vesting \| $ / shares	0
Canceled or expired \| $ / shares	0
Options outstanding at end of year \| $ / shares	3.32
Options exercisable at end of year \| $ / shares	$ 5.04