v3.22.1
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Revenue, net $ 7,570,000 $ 8,789,000
Cost of revenue 4,161,000 4,660,000
Gross profit 3,409,000 4,129,000
Operating expenses    
Selling, general and administrative 6,145,000 3,033,000
Research and development 2,065,000 1,310,000
Total operating expenses 8,210,000 4,343,000
Loss from operations (4,801,000) (214,000)
Other income (expense)    
Long-term debt forgiveness 0 2,000,000
Change in fair value of warrant liabilities 762,000 0
Interest expense 0 (151,000)
Interest income 1,000 0
Other income 1,000 0
Total other income, net 764,000 1,849,000
(Loss) income before income tax benefit (4,037,000) 1,635,000
Income tax benefit 0 73,000
Net (loss) income $ (4,037,000) $ 1,708,000
Net (loss) income per share:    
Basic (in USD per shares) $ (0.08) $ 0.05
Diluted (in USD per shares) $ (0.08) $ 0.05
Weighted average common shares outstanding:    
Basic (in shares) [1] 53,142,447 35,993,403
Diluted (in shares) [1] 53,142,447 35,993,403
Other comprehensive (loss) income    
Foreign currency translation adjustment $ (52,000) $ (9,000)
Comprehensive (loss) income $ (4,089,000) $ 1,699,000
[1] Retroactively restated the common shares for 2021 due to the reverse recapitalization as described in Notes 1 and 2.

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