Sanuwave Announces Q2 FY2026 Financial Results
Rhea-AI Summary
Sanuwave (NASDAQ: SNWV) reported Q2 2026 revenue of $9.7 million, down 3% from $10.1 million in Q2 2025 but slightly above the high end of its revised June 16, 2026 guidance. Gross margin was 76.2% versus 78.1% a year earlier, and operating results moved from income of $1.4 million in Q2 2025 to an operating loss of $0.3 million. Net result shifted from $0.6 million income to a $0.7 million net loss, while Adjusted EBITDA declined to $1.2 million from $3.2 million.
Ultramist® system sales fell to 82 units from 116 a year ago, but Ultramist applicator revenue grew 13% to $7.3 million, accounting for about 75% of revenue. For the first half of 2026, revenue was $19.4 million with a $2.1 million net loss versus a $5.6 million net loss in 2025. Cash and equivalents were $9.4 million at June 30, 2026, with total assets of $36.6 million and stockholders’ equity of $2.8 million. Citing Medicare reimbursement developments and a 2027 CMS proposed rule for code 97610, Sanuwave withdrew its 2026 guidance and will reassess after the final CMS rule expected in Q4 2026.
Positive
- Q2 2026 revenue $9.7M, slightly above revised guidance high end
- Ultramist applicator revenue $7.3M, up 13% year over year
- Ultramist applicator unit volumes up 27% year over year and 13% sequentially
- Adjusted EBITDA Q2 2026 positive $1.2M, despite lower than prior year
- Six-month 2026 net loss $2.1M versus $5.6M loss in 2025
- Stockholders’ equity increased to $2.8M from $1.6M at year-end 2025
Negative
- Q2 2026 revenue down 3% year over year to $9.7M
- Ultramist systems sold fell to 82 from 116 a year ago and 97 in Q1 2026
- Gross margin declined to 76.2% from 78.1% in Q2 2025
- Operating result swung to $0.3M loss from $1.4M income in Q2 2025
- Net income turned to $0.7M loss from $0.6M profit in prior-year quarter
- Adjusted EBITDA decreased to $1.2M from $3.2M in Q2 2025
- 2026 financial guidance withdrawn due to Medicare reimbursement and CMS 97610 uncertainties
News Explained
In its
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 13 | Preliminary Q2 revenue | Positive | +6.2% | Preliminary revenue exceeded the high end of revised Q2 guidance. |
| May 12 | Q1 earnings report | Positive | +18.1% | Q1 revenue increased year over year despite operating and net losses. |
| Apr 16 | Preliminary Q1 revenue | Positive | +14.4% | Preliminary Q1 revenue increased 3–4% year over year. |
| Mar 26 | Q4 earnings report | Positive | -1.3% | Record Q4 and full-year revenue accompanied by positive operating income. |
| Jan 09 | Preliminary Q4 revenue | Positive | +1.2% | Preliminary Q4 and full-year revenue reached company records. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-matched earnings events produced four aligned positive reactions and one divergence, including a negative reaction to record Q4 results.
Key Terms
adjusted ebitda financial
non-GAAP financial measure financial
allografts medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Q2 2026 revenues were
Q2 2026 gross margin was
GAAP Operating (Loss) Income was
EDEN PRAIRIE, Minn., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Sanuwave Health, Inc. (the "Company" or "Sanuwave”) (NASDAQ: SNWV), a leading provider of next-generation FDA-cleared wound care products, is pleased to provide its financial results for the three months ended June 30, 2026.
Quarter ended June 30, 2026
- Revenue for the three months ended June 30, 2026, totaled
$9.7 million , an decrease of3% , as compared to$10.1 million for the same period of 2025. Revenue for the three months ended June 30, 2026 was slightly above the high end of the revised guidance provided on June 16, 2026. - 82 Ultramist® systems were sold in Q2 2026 down from 116 in Q2 2025, and from 97 in Q1 2026.
- Ultramist® applicator revenue increased by
13% to$7.3 million in Q2 2026, versus$6.4 million for the same quarter last year. - Gross margin as a percentage of revenue amounted to
76.2% for the three months ended June 30, 2026, versus78.1% for the same period last year. - For the three months ended June 30, 2026, operating (loss) income totaled
$(0.3) million , compared to$1.4 million in Q2 2025. - Net loss for the second quarter of 2026 was
$0.7 million . This compares to net income of$0.6 million in the second quarter of 2025. - Adjusted EBITDA [1] for the three months ended June 30, 2026, was
$1.2 million versus Adjusted EBITDA of$3.2 million for the same period last year.
“2026 has been a challenging period for the advanced wound care market,” said Morgan Frank, CEO. “Despite this, Q2 was another all time record for Ultramist applicator unit volumes, which increased
Certain percentages presented in this earnings release are calculated from the underlying whole-dollar amounts and therefore may not recalculate from the rounded numbers used for disclosure purposes.
Financial Outlook
Owing to market conditions including the Medicare reimbursement developments discussed above, Sanuwave is withdrawing its previously issued fiscal year 2026 guidance which should no longer be relied upon. The Company will not provide quarterly or annual guidance until there is greater clarity on these topics and expects to reassess after CMS publishes its final rule which is anticipated in the fourth quarter of 2026.
As previously announced, a business update will occur via conference call on August 7, 2026 at 8:30 a.m. EST. Materials for the conference call are included on the Company’s website at http://www.sanuwave.com/investors.
Telephone access to the call will be available by dialing the following numbers:
Toll Free:1-800-274-8461
Toll/International: 1-203-518-9814
Conference ID: SANUWAVE
OR use the link for instant telephone access to the event.
https://viavid.webcasts.com/starthere.jsp?ei=1771327&tp_key=110b588de5
A replay will be made available through August 21, 2026:
Toll-Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Access ID: 11162356
[1] This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” and the reconciliations in this release for further information.
About Sanuwave
Sanuwave Health is focused on the research, development, and commercialization of its patented, non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.
Sanuwave's end-to-end wound care portfolio of regenerative medicine products and product candidates helps restore the body’s normal healing processes. Sanuwave applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular conditions.
Non-GAAP Financial Measures
This press release includes certain financial measures that are not presented in our financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). These financial measures are considered "non-GAAP financial measures" and are intended to supplement, and should not be considered as superior to, or a replacement for, financial measures presented in accordance with U.S. GAAP.
The Company uses Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) and Adjusted EBITDA to assess its operating performance. Adjusted EBITDA is Earnings before Interest, Taxes, Depreciation and Amortization adjusted for the change in fair value of derivatives and any significant non-cash or infrequent charges. EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (loss), as a measure of financial performance or any other performance measure derived in accordance with U.S. GAAP, and they should not be construed as an inference that the Company’s future results will be unaffected by unusual or infrequent items. These non-GAAP financial measures are presented in a consistent manner for each period, unless otherwise disclosed. The Company uses these measures for the purpose of evaluating its historical and prospective financial performance, as well as its performance relative to competitors. These measures also help the Company to make operational and strategic decisions. The Company believes that providing this information to investors, in addition to U.S. GAAP measures, allows them to see the Company’s results through the eyes of management, and to better understand its historical and future financial performance. These non-GAAP financial measures are also frequently used by analysts, investors, and other interested parties to evaluate companies in our industry, when considered alongside other U.S. GAAP measures.
EBITDA, Adjusted EBITDA, Adjusted Gross Margin Percentage and Adjusted Operating Income have their limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under U.S. GAAP. For example, some of these limitations are that EBITDA and Adjusted EBITDA:
- Do not reflect every expenditure, future requirements for capital expenditures or contractual commitments.
- Do not reflect all changes in our working capital needs.
- Do not reflect interest expense, or the amount necessary to service our outstanding debt.
As presented in the U.S. GAAP to Non-GAAP Reconciliations section below, the Company’s non-GAAP financial measures exclude the impact of certain charges that contribute to our net income (loss).
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future financial results, production expectations, and plans for future business development activities. Forward-looking statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are: reductions, clawbacks, or recoupments of CMS reimbursement for skin substitutes, allografts, or other advanced wound care products, and their effect on customer behavior and capital budgets; the financial distress, closure, or liquidation of wound care practices and the resulting impact on demand for the Company's systems; the emergence and growth of a secondary market for used Ultramist systems and the cannibalizing effect of such resales on sales of new systems; the Company's ability to qualify, train, and support new users acquiring systems through the secondary market, and the related regulatory, quality, and product-liability considerations; the Company's ability to sustain applicator and consumable volumes and convert system placements into recurring consumable revenue; risks associated with regulatory oversight; the Company's ability to manage its capital resources; competition; and the other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
Contact: investors@sanuwave.com
| SELECTED FINANCIAL DATA FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025 | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||
| Revenue | $ | 9,739 | $ | 10,054 | $ | 19,358 | $ | 19,387 | |||||||
| Cost of Revenues | 2,315 | 2,206 | 4,502 | 4,164 | |||||||||||
| Gross Margin | 7,424 | 7,848 | 14,856 | 15,223 | |||||||||||
| Gross Margin % | 76.2 | % | 78.1 | % | 76.7 | % | 78.5 | % | |||||||
| Total operating expenses | 7,704 | 6,410 | 16,260 | 13,184 | |||||||||||
| Operating (Loss) Income | $ | (280 | ) | $ | 1,438 | $ | (1,404 | ) | $ | 2,039 | |||||
| Total other expense | (396 | ) | (887 | ) | (711 | ) | (7,606 | ) | |||||||
| Net (Loss) Income | $ | (682 | ) | $ | 551 | $ | (2,121 | ) | $ | (5,567 | ) | ||||
| NON-GAAP ADJUSTED EBITDA | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||
| Net (Loss) Income | $ | (682 | ) | $ | 551 | $ | (2,121 | ) | $ | (5,567 | ) | ||||
| Non-GAAP Adjustments: | |||||||||||||||
| Interest expense | 518 | 1,939 | 1,064 | 3,848 | |||||||||||
| Depreciation and amortization1 | 313 | 226 | 607 | 493 | |||||||||||
| EBITDA | 149 | 2,716 | (450 | ) | (1,226 | ) | |||||||||
| Non-GAAP Adjustments for Adjusted EBITDA: | |||||||||||||||
| Change in fair value of derivative liabilities | - | (990 | ) | - | 3,911 | ||||||||||
| Other non-cash or infrequent charges: | |||||||||||||||
| Stock-based compensation | 1,572 | 1,132 | 3,143 | 2,116 | |||||||||||
| State & local sales tax2 | (532 | ) | 329 | (194 | ) | 705 | |||||||||
| Sale of excess inventory | - | - | (220 | ) | - | ||||||||||
| Adjusted EBITDA | $ | 1,189 | $ | 3,188 | $ | 2,279 | $ | 5,506 | |||||||
1 Depreciation and amortization excludes amortization of right-of-use (ROU) leases. Prior period amounts have been retroactively revised to conform to this presentation. This change had no effect on previously reported GAAP results.
2 The charges represent a non-recurring state and local sales tax expense related to the restatement of prior period financial statements.
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| June 30, 2026 | December 31, 2025 | ||||||
| ASSETS | |||||||
| Current Assets: | |||||||
| Cash and cash equivalents | $ | 9,376 | $ | 11,959 | |||
| Accounts receivable, net of allowance of | 5,801 | 5,422 | |||||
| Inventory | 7,070 | 5,934 | |||||
| Prepaid expenses and other current assets | 954 | 1,312 | |||||
| Total Current Assets | 23,201 | 24,627 | |||||
| Non-Current Assets: | |||||||
| Property and equipment, net | 2,255 | 1,972 | |||||
| Right of use assets, net | 953 | 390 | |||||
| Intangible assets, net | 2,887 | 3,026 | |||||
| Goodwill | 7,260 | 7,260 | |||||
| Secured revolving credit facility debt issuance costs, net | 49 | 68 | |||||
| Total Non-current Assets | 13,404 | 12,716 | |||||
| Total Assets | $ | 36,605 | $ | 37,343 | |||
| LIABILITIES | |||||||
| Current Liabilities: | |||||||
| Current portion of secured term loan, net of debt issuance costs | $ | 5,599 | $ | 5,638 | |||
| Accounts payable | 3,308 | 3,251 | |||||
| Accrued expenses | 8,605 | 8,382 | |||||
| Current portion of operating lease liabilities | 5 | 157 | |||||
| Current portion of contract liabilities | 632 | 388 | |||||
| Accrued interest | 17 | 24 | |||||
| Other | 7 | 7 | |||||
| Total Current Liabilities | 18,173 | 17,847 | |||||
| Non-current Liabilities: | |||||||
| Secured term loan, net of current portion and debt issuance costs | 12,922 | 15,667 | |||||
| Secured revolving credit facility | 655 | 655 | |||||
| Operating lease liabilities, less current portion | 1,525 | 854 | |||||
| Contract liabilities, less current portion | 543 | 701 | |||||
| Total Non-current Liabilities | 15,645 | 17,877 | |||||
| Total Liabilities | $ | 33,818 | $ | 35,724 | |||
| STOCKHOLDERS’ EQUITY | |||||||
| Preferred Stock, par value | $ | - | $ | - | |||
| Common stock, par value | 9 | 9 | |||||
| Additional paid-in capital | 247,574 | 244,285 | |||||
| Accumulated deficit | (244,806 | ) | (242,685 | ) | |||
| Accumulated other comprehensive income | 10 | 10 | |||||
| Total Stockholders’ Equity | 2,787 | 1,619 | |||||
| Total Liabilities and Stockholders’ Equity | $ | 36,605 | $ | 37,343 | |||
| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 (As Restated) | 2026 | 2025 (As Restated) | ||||||||||||
| Revenue | $ | 9,739 | $ | 10,054 | $ | 19,358 | $ | 19,387 | |||||||
| Cost of Revenues | 2,315 | 2,206 | 4,502 | 4,164 | |||||||||||
| Gross Margin | 7,424 | 7,848 | 14,856 | 15,223 | |||||||||||
| Operating Expenses: | |||||||||||||||
| General and administrative | 4,902 | 4,368 | 10,152 | 9,211 | |||||||||||
| Selling and marketing | 1,923 | 1,674 | 4,322 | 3,205 | |||||||||||
| Research and development | 628 | 194 | 1,289 | 402 | |||||||||||
| Depreciation and amortization | 251 | 174 | 497 | 366 | |||||||||||
| Total Operating Expenses | 7,704 | 6,410 | 16,260 | 13,184 | |||||||||||
| Operating (Loss) Income | (280 | ) | 1,438 | (1,404 | ) | 2,039 | |||||||||
| Other (Expense) Income: | |||||||||||||||
| Interest expense | (518 | ) | (1,939 | ) | (1,064 | ) | (3,848 | ) | |||||||
| Change in fair value of derivative liabilities | - | 990 | — | (3,911 | ) | ||||||||||
| Other expense | (77 | ) | (27 | ) | (137 | ) | (28 | ) | |||||||
| Other income | 199 | 89 | 490 | 181 | |||||||||||
| Total Other Expense, net | (396 | ) | (887 | ) | (711 | ) | (7,606 | ) | |||||||
| Net (Loss) Income Before Income Taxes | (676 | ) | 551 | (2,115 | ) | (5,567 | ) | ||||||||
| Income tax expense | 6 | - | 6 | - | |||||||||||
| Net (Loss) Income | $ | (682 | ) | $ | 551 | $ | (2,121 | ) | $ | (5,567 | ) | ||||
| (Loss) Earnings per Share: | |||||||||||||||
| Basic | $ | (0.08 | ) | $ | 0.06 | $ | (0.25 | ) | $ | (0.65 | ) | ||||
| Diluted | $ | (0.08 | ) | $ | (0.04 | ) | $ | (0.25 | ) | $ | (0.65 | ) | |||
| Weighted average shares outstanding | |||||||||||||||
| Basic | 8,601,198 | 8,561,737 | 8,596,148 | 8,554,706 | |||||||||||
| Diluted | 8,601,198 | 9,167,846 | 8,596,148 | 8,554,706 | |||||||||||
| CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (In thousands, except share data) | |||||||||||||||||||
| Three Months Ended June 30, 2026 | |||||||||||||||||||
| Common Stock | |||||||||||||||||||
| Number of Shares Issued and Outstanding | Par Value | Additional Paid- in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total | ||||||||||||||
| Balances as of March 31, 2026 | 8,594,209 | $ | 9 | $ | 245,943 | $ | (244,124 | ) | $ | 10 | $ | 1,838 | |||||||
| Stock-based compensation | - | - | 1,403 | - | - | 1,403 | |||||||||||||
| Stock options exercised | 4,100 | - | 58 | - | - | 58 | |||||||||||||
| Shares issued for services rendered | 4,000 | - | 67 | - | - | 67 | |||||||||||||
| Shares granted in lieu of board of director fees | - | - | 102 | - | - | 102 | |||||||||||||
| Net loss | - | - | - | (682 | ) | - | (682 | ) | |||||||||||
| Balances as of June 30, 2026 | 8,602,309 | $ | 9 | $ | 247,574 | $ | (244,806 | ) | $ | 10 | $ | 2,787 | |||||||
| Three Months Ended June 30, 2025 | |||||||||||||||||||
| Common Stock | |||||||||||||||||||
| Number of Shares Issued and Outstanding | Par Value | Additional Paid- in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total | ||||||||||||||
| Balances as of March 31, 2025 (As Restated) | 8,548,473 | $ | 9 | $ | 239,786 | $ | (260,617 | ) | $ | 10 | $ | (20,812 | ) | ||||||
| Stock-based compensation | - | - | 1,132 | - | - | 1,132 | |||||||||||||
| Stock options exercised | 17,008 | - | 253 | - | - | 253 | |||||||||||||
| Shares granted in lieu of board of director fees | 2,524 | - | 77 | - | - | 77 | |||||||||||||
| Net income (As Restated) | - | - | - | 551 | - | 551 | |||||||||||||
| Balances as of June 30, 2025 (As Restated) | 8,568,005 | $ | 9 | $ | 241,248 | $ | (260,066 | ) | $ | 10 | $ | (18,799 | ) | ||||||
| CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (In thousands, except share data) | |||||||||||||||||||
| Six Months Ended June 30, 2026 | |||||||||||||||||||
| Common Stock | |||||||||||||||||||
| Number of Shares Issued and Outstanding | Par Value | Additional Paid- in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total | ||||||||||||||
| Balances as of December 31, 2025 | 8,588,876 | $ | 9 | $ | 244,285 | $ | (242,685 | ) | $ | 10 | $ | 1,619 | |||||||
| Stock-based compensation | - | 2,842 | - | - | 2,842 | ||||||||||||||
| Stock options exercised | 5,433 | - | 77 | - | - | 77 | |||||||||||||
| Shares issued for services rendered | 8,000 | - | 164 | - | - | 164 | |||||||||||||
| Shares granted in lieu of board of director fees | - | - | 205 | - | - | 205 | |||||||||||||
| Net loss | - | - | - | (2,121 | ) | - | (2,121 | ) | |||||||||||
| Balances as of June 30, 2026 | 8,602,309 | $ | 9 | $ | 247,574 | $ | (244,806 | ) | $ | 10 | $ | 2,787 | |||||||
| Six Months Ended June 30, 2025 | |||||||||||||||||||
| Common Stock | |||||||||||||||||||
| Number of Shares Issued and Outstanding | Par Value | Additional Paid- in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Total | ||||||||||||||
| Balance as of December 31, 2024 (As Restated) | 8,543,686 | $ | 9 | $ | 238,685 | $ | (254,499 | ) | $ | 10 | $ | (15,795 | ) | ||||||
| Stock-based compensation | 4,787 | - | 2,233 | - | - | 2,233 | |||||||||||||
| Stock options exercised | 17,008 | - | 253 | - | - | 253 | |||||||||||||
| Shares granted in lieu of board of director fees | 2,524 | - | 77 | - | - | 77 | |||||||||||||
| Net loss (As Restated) | - | - | - | (5,567 | ) | - | (5,567 | ) | |||||||||||
| Balances as of June 30, 2025 (As Restated) | 8,568,005 | $ | 9 | $ | 241,248 | $ | (260,066 | ) | $ | 10 | $ | (18,799 | ) | ||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| Six Months Ended June 30, | |||||||
| (in thousands) | 2026 | 2025 (As Restated) | |||||
| Operating Activities: | |||||||
| Net loss | $ | (2,121 | ) | $ | (5,567 | ) | |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | |||||||
| Stock-based compensation | 3,143 | 2,106 | |||||
| Depreciation and amortization | 607 | 388 | |||||
| Amortization of right-of-use leases | 56 | 185 | |||||
| Provision for credit losses | 379 | 131 | |||||
| Change in fair value of derivative liabilities | - | 3,911 | |||||
| Amortization of debt issuance and debt discounts | 111 | 1,062 | |||||
| Write-off of inventory | 69 | - | |||||
| Loss on disposal of assets | 18 | - | |||||
| Proceeds from tenant improvement funds | - | 429 | |||||
| Changes in operating assets and liabilities | |||||||
| Accounts receivable | (757 | ) | (650 | ) | |||
| Inventory | (1,205 | ) | (1,762 | ) | |||
| Prepaid expenses and other assets | 385 | (1,231 | ) | ||||
| Accounts payable | (133 | ) | 274 | ||||
| Accrued expenses and contract liabilities | 370 | 200 | |||||
| Operating leases | (100 | ) | - | ||||
| Net Cash Provided by (Used in) Operating Activities | 822 | (524 | ) | ||||
| Investing Activities | |||||||
| Purchase of property and equipment | (357 | ) | (1,321 | ) | |||
| Deposits on property and equipment | (35 | ) | - | ||||
| Investment in software development | (213 | ) | - | ||||
| Net Cash Used in Investing Activities | (606 | ) | (1,321 | ) | |||
| Financing Activities | |||||||
| Proceeds from exercises of stock options | 77 | 253 | |||||
| Repayment of principal secured term loan | (2,875 | ) | - | ||||
| Payments of principal on finance leases | - | (149 | ) | ||||
| Net Cash (Used in) Provided by Financing Activities | (2,798 | ) | 104 | ||||
| Net Change in Cash During Period | (2,583 | ) | (1,741 | ) | |||
| Cash at Beginning of Period | 11,959 | 10,237 | |||||
| Cash at End of Period | $ | 9,376 | $ | 8,496 | |||
| Supplemental Information: | |||||||
| Cash paid for interest | $ | 828 | $ | 2,255 | |||
| Cash paid for income taxes | $ | 51 | $ | - | |||
| Non-cash Investing and Financing Activities: | |||||||
| Right-of-use assets obtained in exchange for lease liabilities | 619 | 430 | |||||
| Stock options granted in lieu of cash bonus | 69 | 117 | |||||
| Purchases of property and equipment in accounts payable | 191 | - | |||||
| Capitalize interest into senior secured debt | - | 407 | |||||
| RSUs granted in exchange for services | - | 10 | |||||
