0001171843-21-001848 | 10-K/A | XBRL Viewer

Business Description and Basis of Presentation [Text Block]

Organization

Harvard Bioscience, Inc., a Delaware corporation, is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental research, discovery, and preclinical testing for drug development. The Company’s products and services are sold globally to customers ranging from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in North America, Europe and China, the Company has sales through a combination of direct and distribution channels to customers around the world.

Risks and Uncertainties

On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic. The COVID-19 pandemic has had a negative impact on the Company’s operations to date and the future impacts of the pandemic and any resulting economic impact are largely unknown and rapidly evolving. Since the COVID-19 outbreak in the United States, Europe and elsewhere, many customers, particularly academic research institutions, have been unable to maintain laboratory work which has negatively impacted, and will continue to negatively impact, our sales. Additionally, to ensure business continuity while maintaining a safe environment for employees aligned with guidance from government and health organizations, the Company transitioned the majority of its workforce to work-from-home while implementing social distancing requirements and other measures in factories to allow manufacturing and other personnel essential to production to continue work within our facilities. Business travel was significantly reduced during this period. While the Company has maintained operations under these conditions, these measures represent disruptions which can impact productivity including sales and marketing activities. Accordingly, these conditions in addition to the overall impact on the global economy have negatively impacted our results of operations and cash flows.

As a result of these market and economic conditions, the Company performed an analysis for potential impairment indicators of its intangible and other long-lived assets in accordance with the guidelines set forth in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 350, “Intangibles – Goodwill and Other” and ASC 360, “Property, Plant, and Equipment.” For the year ended December 31, 2020, the Company concluded there were no impairments of goodwill, other indefinite-lived intangibles, or long-lived assets that resulted from triggering events due to the COVID-19 pandemic.

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

Summary of Significant Accounting Policies

(a)

Principles of Consolidation

The consolidated financial statements include the accounts of Harvard Bioscience, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

(b)

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the use of management estimates. Such estimates include the determination and establishment of certain accruals and provisions, including those for inventory excess and obsolescence, income tax and reserves for bad debts. In addition, certain estimates are required in order to determine the value of assets and liabilities associated with acquisitions, as well as the Company’s defined benefit pension obligations. Estimates are also required to evaluate the value and recoverability of existing long-lived and intangible assets, including goodwill. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates.

(c)

Cash and Cash Equivalents

The Company considers all highly liquid instruments with original maturities of three months or less to be cash equivalents. Cash and cash equivalents include cash on hand and amounts due from banks. The Company maintains a portion of its cash in bank deposits, which at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company does not believe it is exposed to any significant risk with respect to these accounts.

(d)

Allowance for Doubtful Accounts

The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance. The Company determines the allowance based on considering factors such as historical experience, credit quality, known troubled accounts, historical experience, factors that may affect a customer’s ability to pay and other currently available evidence.

(e)

Inventories

The Company values its inventories at the lower of the actual cost to purchase (first-in, first-out method) and/or manufacture the inventories or the net realizable value of the inventories. The Company regularly reviews inventory quantities on hand and records a provision to write down excess and obsolete inventories to its estimated net realizable value if less than cost, based primarily on historical inventory usage and estimated forecast of product demand.

(f)

Property, Plant and Equipment

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows:

Machinery and equipment (years)	3	-	10
Computer equipment and software (years)	3	-	7
Furniture and fixtures (years)	5	-	10

Property and equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.

(g)

Leases

The Company accounts for its leases in accordance with ASC 842 Leases. The Company leases office space, manufacturing facilities, automobiles and equipment. The Company concludes on whether an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment as to whether a contract conveys the right to the Company to control the use of identified property, plant or equipment for period of time in exchange for consideration. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes these lease expenses on a straight-line basis over the lease term.

The Company has assessed its contracts and concluded that its leases consist of operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate represents a significant judgment that is based on an analysis of the Company’s credit rating, country risk, treasury and corporate bond yields, as well as comparison to the Company’s borrowing rate on its most recent loan. The Company uses the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for its leases, the Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities.

(h)

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is more than 50% likely of being realized. Changes in recognition are reflected in the period in which the judgement occurs.

(i)

Foreign Currency Translation

The functional currency of the Company’s foreign subsidiaries is generally their local currency. All assets and liabilities of its foreign subsidiaries are translated at exchange rates in effect at period-end. Income and expenses are translated at rates which approximate those in effect on the transaction dates. The resulting translation adjustment is recorded as a separate component of stockholders’ equity in accumulated other comprehensive (loss) income (“AOCI”) in the consolidated balance sheets. Gains and losses resulting from foreign currency transactions are included in net (loss) income.

(j)

Earnings per Share

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods presented. The computation of diluted earnings per share is similar to the computation of basic earnings per share, except that the denominator is increased for the assumed exercise of dilutive options and other potentially dilutive securities using the treasury stock method unless the effect is antidilutive.

(k)

Comprehensive (Loss) Income

In accordance with ASC 220, the Company reports all changes in equity during a period, resulting from net (loss) income and transactions from non-owner sources, in a financial statement in the period in which they are recognized. The Company has chosen to disclose comprehensive (loss) income, which encompasses net (loss) income, foreign currency translation adjustments, gains and losses on derivatives, the underfunded status of its pension plans, and pension minimum additional liability adjustments, net of tax, in the consolidated statements of comprehensive (loss) income.

(l)

Revenue Recognition

Nature of contracts and customers

The Company’s contracts are primarily of short duration and are mostly based on the receipt and fulfilment of purchase orders. The purchase orders are binding and include pricing and all other relevant terms and conditions.

The Company’s customers are primarily research scientists at pharmaceutical and biotechnology companies, universities, hospitals, government laboratories, including the United States National Institutes of Health (NIH) and contract research organizations. The Company also has global and regional distribution partners, and original equipment manufacturer (OEM) customers who incorporate its products into their products under their own brands.

Performance obligations

The Company’s performance obligations under its revenue contracts consist of its instruments, equipment, accessories, services, maintenance and extended warranties. Equipment also includes software that functions together with the tangible equipment to deliver its essential functionality. Contracts with customers may contain multiple promises such as delivery of hardware, software, professional services or post-contract support services. These promises are accounted for as separate performance obligations if they are distinct. For contracts with customers that contain multiple performance obligations, the transaction price is allocated to the separate performance obligations based on estimated relative standalone selling price, which does not materially differ from the stated price in the contract. In general, the Company’s list prices are indicative of standalone selling price.

Instruments, equipment and accessories consist of a range of products that are used in life sciences research. Revenues from the sales of these items are recognized when transfer of control of these products to the customer occurs. Transfer of control occurs when the Company has a right to payment, and the customer has legal title to the asset and the customer or their selected carrier has possession, which is typically upon shipment. Sales on these items are therefore generally recognized at a point in time.

The Company’s equipment revenue also includes the sale of wireless implantable monitors that are used for life science research purposes. The Company sells these wireless implantable monitors to pharmaceutical companies, contract research organizations and academic laboratories. In addition to sales generated from new and existing customers, these implantable devices are also sold under a program called the “exchange program.” Under this program, customers may return an implantable monitor to the Company after use, and if the returned monitor can be reprocessed and resold, they may, in exchange, purchase a replacement implantable monitor of the same model at a lower price than a new monitor. The implantable monitors that are returned by customers are reprocessed and made available for future sale. The initial sale of implantable monitors and subsequent sale of replacement implantable monitors are independent transactions. The Company has no obligation in connection with the initial sale to sell replacement implantable monitors at any future date under any fixed terms and may refuse returned implantable monitors that cannot be recovered or are obsolete. The Company has concluded that the offer to its customers that they may purchase a discounted product in the future is not a material right based on the applicable guidance within ASC 606.

Service revenues consist of installation, training, data analysis, and surgeries performed on research animals. Maintenance revenue consists of post-contract support provided in relation to software that is embedded within the equipment that is sold to the customer. The Company provides standard warranties that promise the customer that the product will work as promised. These standard warranties are not a separate performance obligation. Extended warranties relate to warranties that are separately priced, and purchased in addition to a standard warranty, and are therefore a separate performance obligation. The Company has made the judgment that the customer benefits as the Company performs over the period of the contract, and therefore revenues from service, maintenance and warranty contracts are recognized over time. The Company uses the input method to recognize revenue over time, based on time elapsed, which is generally on a straight-line basis over the service period. The period over which maintenance and warranty contracts is recognized is typically one year. The period over which service revenues is recognized is generally less than one month.

For sales for which transfer of control occurs upon shipment, the Company accounts for shipping and handling costs as fulfilment costs. As such, the Company records the amounts billed to the customer for shipping costs as revenue and the costs within cost of revenues upon shipment. For sales, for which control transfers to customers after shipment, the Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the goods to the customer. The Company therefore accrues for the costs of shipping undelivered items in the period of shipment.

Revenues expected to be recognized related to any and all remaining performance obligations are generally expected to be recognized in one year or less, as the majority of the Company's contracts have a term of less than one year.

Variable Consideration

The nature of the Company's contracts gives rise to certain types of variable consideration, including in limited cases volume and payment discounts. The Company analyzes sales that could include variable consideration and estimates the expected or most likely amount of revenue after returns, trade-ins, discounts, rebates, credits, and incentives. Product returns are estimated and accrued for, based on historical information. In making these estimates, the Company considers whether the amount of variable consideration is constrained and is included in revenue only to the extent that it is probable that a significant reversal of the revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Variable consideration, and its impact on the Company’s revenue recognition, was not material in any of the periods presented.

The Company’s payment terms are generally from zero to sixty days from the time of invoicing, which generally occurs at the time of shipment or prior to services being performed. Payment terms vary by the type of its customers and the products or services offered.

Sales taxes, value added taxes, and certain excise taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are therefore excluded from revenues.

Deferred revenue

The Company records deferred revenue when cash is collected from customers prior to satisfaction of the Company’s performance obligation to the customer. Deferred revenue consists of amounts deferred related to service contracts and revenue deferred as a result of payments received in advance from customers. Deferred revenue is generally expected to be recognized within one year.

The amounts included in deferred revenue from advanced payments relate to amounts that are prepaid for wireless implantable monitors under the exchange program. The Company has made the judgment that these payments do not represent a significant financing component as the customer can exercise their discretion as to when they can obtain the products that they have made a prepayment for.

Advanced payments received from customers are recorded as a liability, and revenue is recognized when the Company’s performance obligations are completed. Performance obligations are completed when the product is shipped or delivered to the customer, or at the end of the exchange program if goods are not acquired prior to the termination of the contract period.

Disaggregation of revenue

Refer to Note 13 for revenue disaggregated by type as well as further information about the deferred revenue balances and to Note 16 for revenue disaggregated by geographic region.

(m)

Valuation of Identifiable Intangible Assets Acquired in Business Combinations

The determination of the fair value of intangible assets, which represents a significant portion of the purchase price in the Company’s acquisitions, requires the use of significant judgment with regard to (i) the fair value; and (ii) whether such intangibles are amortizable or not amortizable and, if the former, the period and the method by which the intangibles asset will be amortized. The Company estimates the fair value of acquisition-related intangible assets principally based on projections of discounted cash flows that will arise from identifiable assets of acquired businesses. Amortizable intangible assets include existing technology, trade names, distribution agreements, customer relationships and patents, and are amortized on a straight-line basis over their estimated useful lives.

(n)

Goodwill and Other Intangible Assets

Goodwill and unamortizable intangible assets acquired in a business combination and determined to have an indefinite useful life are not amortized, but instead are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired, in accordance with the provisions of ASC 350, “Intangibles—Goodwill and Other.”

For the purpose of its goodwill analysis, the Company has one reporting unit. The Company conducts its annual impairment analysis in the fourth quarter of the fiscal year and more frequently if there is an indicator of impairment. The Company assesses qualitative factors of the reporting unit to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. If the qualitative assessment indicates a potential impairment, a quantitative analysis is performed. The Company compares the fair value of the reporting unit with its carrying amount. The Company estimates fair value using under the income approach using the discounted cash flows model, which indicates the fair value of the reporting unit based on the present value of the cash flows that the Company expects the reporting unit to generate in the future. The Company's significant estimates in the discounted cash flows model include weighted average cost of capital, long-term rate of growth and profitability of the reporting unit’s business, and working capital effects. If the carrying amount of a reporting unit exceeds its fair value, goodwill is impaired and the Company would recognize a loss equal to the excess. For indefinite-lived intangible assets if the carrying value exceeds the fair value of the asset, the Company would write down the indefinite-lived intangible asset to fair value. At December 31, 2020, the Company concluded that none of its goodwill was impaired.

The Company evaluates indefinite-lived intangible assets for impairment annually and when events occur, or circumstances change that may reduce the fair value of the asset below its carrying amount. Events or circumstances that might require an interim evaluation include unexpected adverse business conditions, economic factors, unanticipated technological changes or competitive activities, loss of key personnel and acts by governments and courts. Refer to Note 4 for further details regarding impairment of indefinite-lived intangible assets.

(o)

Impairment of Long-Lived Assets

The Company assesses recoverability of its long-lived assets that are held for use, such as property, plant and equipment and amortizable intangible assets in accordance with ASC 360, “Property, Plant and Equipment” when events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets or an asset group to be held and used is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or the asset group. Cash flow projections are based on trends of historical performance and management’s estimate of future performance. If the carrying amount of the asset or asset group exceeds the estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset or asset group exceeds its estimated fair value. For the year ended December 31, 2020, the Company concluded that none of its long-lived assets were impaired.

(p)

Derivatives

The Company uses interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not enter into derivative instruments for any purpose other than cash flow hedging. The Company does not speculate using derivative instruments. The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in the fair value are either offset through earnings against the change in fair value of the hedged item attributable to the risk being hedged or recognized in AOCI, to the extent the derivative is effective at offsetting the changes in cash flows being hedged until the hedged item affects earnings.

The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, the Company formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.

The Company discontinues hedge accounting prospectively when it determines that the derivative is no longer effective in offsetting cash flows attributable to the hedged risk, the derivative expires or is sold, terminated, or exercised, the cash flow hedge is de-designated because a forecasted transaction is not probable of occurring, or management determines to remove the designation of the cash flow hedge.

In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value in earnings. When it is probable that a forecasted transaction will not occur, the Company discontinues hedge accounting and recognizes immediately in earnings gains and losses that were accumulated in other comprehensive income related to the hedging relationship.

(q)

Fair Value of Financial Instruments

The carrying values of the Company’s cash and cash equivalents, trade accounts receivable and trade accounts payable and short-term debt approximate their fair values because of the short maturities of those instruments. The fair value of the Company’s long-term debt approximates its carrying value and is based on the amount of future cash flows associated with the debt discounted using current borrowing rates for similar debt instruments of comparable maturity.

Financial reporting standards define a fair value hierarchy that consists of three levels:

Level 1 includes instruments for which quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.

Level 2 includes instruments for which the valuations are based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.

Level 3 includes valuations based on inputs that are unobservable and significant to the overall fair value measurement.

(r)

Stock-based Compensation

The Company accounts for stock-based payment awards in accordance with the provisions of ASC 718, “Compensation—Stock Compensation”, which requires it to recognize compensation expense for all stock-based payment awards made to employees and directors including stock options, restricted stock units, and restricted stock units with a market condition related to our Fourth Amended and Restated 2000 Stock Option and Incentive Plan (as amended, the “Incentive Plan”) as well as employee stock purchases (“employee stock purchases”) related to its Employee Stock Purchase Plan (as amended, the “ESPP”). The Company issues new shares upon stock option exercises, upon vesting of restricted stock units and restricted stock units with a market condition, and under the Company’s ESPP.

Stock-based compensation expense recognized is based on the value of the portion of stock-based payment awards that is ultimately expected to vest. The Company values stock-based payment awards, except restricted stock units at grant date using the Black-Scholes option-pricing model. The Company values restricted stock units with a market condition using a Monte-Carlo valuation simulation. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model or Monte-Carlo valuation simulation is affected by the Company’s stock price as well as assumptions regarding certain variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards and actual and projected stock option exercise behaviors.

The fair value of restricted stock units is based on the market price of the Company’s stock on the date of grant and are recorded as compensation expense on a straight-line basis over the applicable service period, which ranges from one to four years. Unvested restricted stock units are forfeited in the event of termination of employment with the Company.

Stock-based compensation expense recognized under ASC 718 for the years ended December 31, 2020 and 2019 consisted of stock-based compensation expense related to stock options, the ESPP, and restricted stock units and was recorded as a component of cost of product revenues, sales and marketing expenses, general and administrative expenses, and research and development expenses. Refer to Note 10 for further details.

(s)

Recent Accounting Pronouncements

Accounting Pronouncements to be Adopted

In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. The FASB issued several ASUs after ASU 2016-13 to clarify implementation guidance and to provide transition relief for certain entities. ASU 2016-13 is effective for the Company for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is evaluating the impact that adopting ASU 2016-13 and related amendments will have on its consolidated financial position, results of operations and cash flows.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which enhances and simplifies various aspects of the income tax accounting guidance related to intra-period tax allocation, interim period accounting for enacted changes in tax law, and the year-to-date loss limitation in interim period tax accounting. ASU 2019-12 also amends other aspects of the guidance to reduce complexity in certain areas. ASU 2019-12 is effective for the Company on January 1, 2021. The Company has determined that the adoption of this new accounting guidance will not have a material impact on its consolidated financial statements.

Note 3 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2020

Comprehensive Income (Loss) Note [Text Block]

Accumulated Other Comprehensive Loss

Changes in the components of accumulated other comprehensive loss, net of tax, for the years ended December 31, 2020 and 2019, respectively, are as follows:

	Foreign currency			Derivatives
	translation			qualifying as			Defined benefit
(in thousands)	adjustments			hedges			pension plans			Total
Balance at December 31, 2018	$	(12,630	)	$	(170	)	$	(732	)	$	(13,532	)
Other comprehensive income (loss) before reclassifications		(543	)		(572	)		1,258			143
Amounts reclassified from AOCI		-			139			561			700
Net other comprehensive (loss) income		(543	)		(433	)		1,819			843
Balance at December 31, 2019	$	(13,173	)	$	(603	)	$	1,087		$	(12,689	)
Other comprehensive income (loss) before reclassifications		1,700			(206	)		(2,785	)		(1,291	)
Amounts reclassified from AOCI		-			809			105			914
Net other comprehensive (loss) income		1,700			603			(2,680	)		(377	)
Balance at December 31, 2020	$	(11,473	)	$	-		$	(1,593	)	$	(13,066	)

The amounts reclassified out of accumulated other comprehensive (loss) income are as follows:

	Affected line item in the	Year Ended December 31,
(in thousands)	Statements of Operations	2020		2019
Amounts Reclassified From AOCI
Derivatives qualifying as hedges
Realized loss on derivatives qualifying as hedges	Interest expense, net	$	319	$	139
Realized loss on derivatives qualifying as hedges	Debt extinguishment and related costs		490		-
Income tax	Income tax (benefit) expense		-		-
			809		139
Defined benefit pension plans
Amortization of net losses included in net periodic pension costs	General and administrative expenses		105		561
Income tax	Income tax (benefit) expense		-		-
			105		561
Total reclassifications		$	914	$	700

Note 4 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill for the year ended December 31, 2020 and 2019 are as follows:

	December 31,
(in thousands)	2020		2019
Balance at beginning of year	$	57,381	$	57,304
Effect of change in currency translation		1,209		77
Balance at end of year	$	58,590	$	57,381

December 31,

2020

2019

Weighted

(in thousands)

Amortizable intangible assets:

Average Life* (Years)

Gross

Accumulated Amortization

Net

Gross

Accumulated Amortization

Net

Distribution agreements/customer relationships
8.8 $ 18,237 $ (7,746
)
$ 10,491 $ 17,891 $ (6,340
)
$ 11,551

Existing technology
5.2 38,761 (20,674
)
18,087 41,222 (19,698
)
21,524

Trade names and patents
5.4 8,681 (4,362
)
4,319 7,910 (3,715
)
4,195

Total amortizable intangible assets
$ 65,679 $ (32,782
)
$ 32,897 $ 67,023 $ (29,753
)
$ 37,270

Indefinite-lived intangible assets:
254 1,135

Total intangible assets
$ 33,151 $ 38,405

* Weighted average life as of December 31, 2020.

During the year ended December 31, 2020, the Company removed from its records approximately $3.5 million of fully amortized intangible assets and determined that $0.9 million of tradenames previously classified as indefinite-lived should be classified as amortizing due to anticipated changes in its worldwide marketing programs. During fiscal 2020 there were no impairment charges related to intangible assets.

During the year ended December 31, 2019, the Company recorded impairment charges of $1.5 million consisting of a charge of $0.9 million to write-off certain in-process research and development intangible assets due to a strategic shift in the direction of the project, and $0.5 million of charges to write-off certain intangible assets as a result of the decision to discontinue a product line and cease operations in its facility in North Carolina, and other charges of $0.1 million.

Intangible asset amortization expense was $5.7 million for each of the years ended December 31, 2020 and 2019, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter as of December 31, 2020 is as follows:

	Amortization
Year Ending December 31,	Expense
	(in thousands)
2021	$	5,774
2022		5,740
2023		5,627
2024		5,318
2025		4,204
Thereafter		6,234
Total	$	32,897

Note 5 - Balance Sheet Information

12 Months Ended

Dec. 31, 2020

Supplemental Balance Sheet Disclosures [Text Block]

Balance Sheet Information

The following tables provide details of selected balance sheet items as of the periods indicated:

Inventories:

	December 31,
(in thousands)	2020		2019
Finished goods	$	4,938	$	5,561
Work in process		3,513		3,153
Raw materials		13,811		13,347
Total	$	22,262	$	22,061

Other Current Liabilities:

	December 31,
(in thousands)	2020		2019
Compensation	$	3,715		2,554
Professional fees		432		395
Warranty costs		185		252
Customer related costs		1,093		963
Interest		46		425
Accrued income taxes		286		609
Other		1,721		1,502
Total	$	7,478	$	6,700

Property, Plant and Equipment:

	December 31,
(in thousands)	2020			2019
Machinery and equipment	$	7,450		$	7,198
Computer equipment and software		9,114			8,954
Leasehold improvements		2,540			2,151
Furniture and fixtures		1,353			1,321
Automobiles		100			92
		20,557			19,716
Less: accumulated depreciation		(16,597	)		(14,940	)
Property, plant and equipment, net	$	3,960		$	4,776

Note 6 - Restructuring and Other Exit Costs

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities Disclosure [Text Block]

Restructuring and Other Exit Costs

On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify operational efficiencies, enhance commercial capabilities and align its cost base and infrastructure with customer needs and its strategic plans. In order to realize these opportunities, the Company undertakes restructuring-type activities from time to time to transform its business.

During 2019, the Company initiated a restructuring program designed to improve gross margins and operating margins while reinvesting in resources required to deliver sustained, profitable organic growth. The restructuring program entails consolidating and downsizing several sites and includes headcount reductions in Europe and North America to improve operational efficiency and reduce costs. The restructuring program is expected to be substantially completed by the first half of 2021. Costs associated with the program include headcount reductions, program management and other transition costs necessary to affect the site consolidations and other business improvements.

The following table summarizes the activity for accrued restructuring liability for the years ended December 31, 2020 and 2019:

	Cost of			Severance
(in thousands)	Revenue			Costs			Impairment			Other			Total
Restructuring and other exit costs	$	235		$	530		$	460		$	129		$	1,354
Non-cash charges		(235	)		-			(460	)		(10	)		(705	)
Cash payments		-			(166	)		-			(115	)		(281	)
Balance at December 31, 2019		-			364			-			4			368
Restructuring and other exit costs		-			1,625			-			408			2,033
Non-cash charges		-			-			-			(168	)		(168	)
Cash payments		-			(1,719	)		-			(226	)		(1,945	)
Balance at December 31, 2020	$	-		$	270		$	-		$	18		$	288

As of December 31, 2020, the Company had a restructuring liability of $0.3 million which is payable within the next twelve months and has been included in other current liabilities in the consolidated balance sheet.

During the year ended December 31, 2019, the Company recorded restructuring plan related impairment charges of $0.5 million to write-off certain intangible assets as a result of a decision to discontinue a product line and cease operations in its facility in North Carolina.

Restructuring costs of $2.0 million incurred during the year ended December 31, 2020, have been included as a component of selling, general and administrative expenses. Of the $1.4 million restructuring costs incurred during the year ended December 31, 2019, $0.5 million has been recorded as impairment of intangible assets, $0.2 million has been included in cost of revenues, and the remaining costs of $0.7 million have been included as a component of selling, general and administrative expenses.

Note 7 - Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

In connection with the 2014 acquisitions of Multi Channel Systems MCS GmbH (“MCS”) and Triangle BioSystems, Inc. (“TBSI”), the Company entered into facility lease agreements with the former principal owners of these companies, and both became employees of the Company. The TBSI agreement expired on September 30, 2019, and the MCS agreement expires on December 31, 2024. Pursuant to these lease agreements, the Company made rent payments of approximately $0.3 million for each of the years ended December 31, 2020 and 2019, respectively.

Note 8 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Text Block]

Employee Benefit Plans

The Company sponsors profit sharing retirement plans for its U.S. employees, which includes employee savings plans established under Section 401(k) of the U.S. Internal Revenue Code (the “401(k) Plans”). The 401(k) Plans cover substantially all full-time employees who meet certain eligibility requirements. Contributions to the 401(k) Plans are at the discretion of management. For each of the years ended December 31, 2020 and 2019, the Company contributed $0.7 million, respectively, to the 401(k) Plans.

The Company’s subsidiary in the United Kingdom, Biochrom Limited maintains contributory, defined benefit or defined contribution pension plans for substantially all of its employees. In 2014, these defined benefit pension plans were closed to new employees, as well as closed to the future accrual of benefits for existing employees. The provisions of ASC 715-20 require that the funded status of the Company’s pension plans be recognized in its balance sheet. ASC 715-20 does not change the measurement or income statement recognition of these plans, although it does require that plan assets and benefit obligations be measured as of the balance sheet date. The Company has historically measured the plan assets and benefit obligations as of the balance sheet date.

The components of the Company’s net period benefit (credit) expense were as follows:

	Year Ended December 31,
(in thousands)	2020			2019
Interest cost	$	391		$	484
Expected return on plan assets		(733	)		(761	)
Net amortization loss		105			336
Recognition of net loss due to settlements		22			228
Net periodic benefit (credit) cost	$	(215	)	$	287

The measurement date is December 31 for these plans. The funded status of the Company’s defined benefit pension plans and the amount recognized in the consolidated balance sheets at December 31, 2020 and 2019 is as follows:

	December 31,
(in thousands)	2020			2019
Change in benefit obligation:
Balance at beginning of year	$	20,027		$	18,701
Interest cost		391			484
Actuarial loss		4,814			1,513
Settlements due to transfers paid		(205	)		(871	)
Benefits paid		(476	)		(447	)
Currency translation adjustment		968			647
Balance at end of year	$	25,519		$	20,027

Changes in the actuarial loss disclosed above are primarily the result of changes in the discount rate and inflation assumptions due to underlying market conditions.

	December 31,
(in thousands)	2020			2019
Change in fair value of plan assets:
Balance at beginning of year	$	21,114		$	17,819
Actual return on plan assets		1,690			3,172
Employer contributions		901			831
Settlement due to transfers paid		(159	)		(931	)
Benefits paid		(476	)		(447	)
Currency translation adjustment		856			670
Balance at end of year	$	23,926		$	21,114

	December 31,
(in thousands)	2020			2019
Benefit obligation	$	(25,519	)	$	(20,027	)
Fair value of plan asset		23,926			21,114
Net funded status	$	(1,593	)	$	1,087

The amounts recognized in the consolidated balance sheets consist of:

	December 31,
(in thousands)	2020			2019
Other long term (liabilities) assets	$	(1,593	)	$	1,087
Deferred income taxes		-			-
Accumulated other comprehensive loss	$	(1,593	)	$	1,087

The weighted average assumptions used in determining the net pension cost for these plans follows:

	Year Ended December 31,
	2020			2019
Discount rate		1.4	%		2.02	%
Expected return on assets		3.45	%		3.84	%

The discount rate assumptions used for pension accounting reflect the prevailing rates available on high-quality, fixed-income debt instruments with terms that match the average expected duration of the Company’s defined benefit pension plan obligations.

The Company’s mix of pension plan investments among asset classes also affects the long-term expected rate of return on plan assets. As of December 31, 2020, the Company’s actual asset mix approximated its target mix. Differences between actual and expected returns are recognized in the calculation of net periodic pension (income)/cost over the average remaining expected future working lifetime, which is approximately 15 years of active plan participants.

The fair value and asset allocations of the Company’s pension benefits as of December 31, 2020 and 2019 measurement dates were as follows:

	December 31,
(in thousands)	2020				2019
Asset category:
Equity securities	$	12,047	50	%	$	11,534	55	%
Debt securities		4,605	19	%		3,919	19	%
Liability driven investment funds		5,168	22	%		3,615	17	%
Cash and cash equivalents		1,860	8	%		1,514	7	%
Other		246	1	%		532	3	%
Total	$	23,926	100	%	$	21,114	100	%

Financial reporting standards define a fair value hierarchy that consists of three levels. The fair values of the plan assets by fair value hierarchy level as of December 31, 2020 and 2019 is as follows:

	December 31,
(in thousands)	2020		2019
Quoted Prices in Active Markets for Identical Assets (Level 1)	$	1,860	$	1,514
Significant Other Observable Inputs (Level 2)		22,066		19,600
Significant Other Unobservable Inputs (Level 3)		-		-
Total	$	23,926	$	21,114

Level 1 assets consist of cash and cash equivalents held in the pension plans at December 31, 2020. The Level 2 assets primarily consist of investments in private investment funds that are valued using the net asset values provided by the trust or fund, including an insurance contract. Although these funds are not traded in an active market with quoted prices, the investments underlying the net asset value are based on quoted prices.

The Company expects to contribute at least $1.0 million to its pension plans during 2021. The benefits expected to be paid from the pension plans are $0.6 million in 2021, $0.6 million in 2022, $0.7 million in 2023, $0.8 million in 2024 and $0.8 million in 2025. The expected benefits to be paid in the five years from 2026—2030 are $4.7 million. The expected benefits are based on the same assumptions.

The entire disclosure for retirement benefits.

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Note 9 - Leases

12 Months Ended

Dec. 31, 2020

Lessee, Operating Leases [Text Block]

Leases

The Company has noncancelable operating leases for office space, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030.

The components of lease expense for the year ended December 31, 2020 and 2019 are as follows:

	Year Ended December 31,
(in thousands)	2020			2019
Operating lease cost	$	2,153		$	2,084
Short term lease cost		175			245
Sublease income		(183	)		(429	)
Total lease cost	$	2,145		$	1,900

Supplemental cash flow information related to the Company’s operating leases was as follows:

	Year Ended December 31,
(in thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:	$	2,717	$	2,530
Right-of-use assets obtained in exchange for lease obligations:	$	455	$	177

Supplemental balance sheet information related to the Company’s operating leases was as follows:

	December 31,
(in thousands)	2020			2019
Operating lease right-of use assets	$	7,761		$	8,463

Current portion, operating lease liabilities	$	2,111		$	2,424
Operating lease liabilities, long term		7,481			8,224
Total operating lease liabilities	$	9,592		$	10,648

Weighted average remaining lease term (in years)		7.4			8.1
Weighted average discount rate		9.3	%		9.2	%

Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at December 31, 2020, are as follows:

(in thousands)	Operating Leases
2021	$	2,111
2022		2,018
2023		1,970
2024		1,715
2025		1,000
Thereafter		4,854
Total lease payments		13,668
Less interest		(4,076	)
Total operating lease liabilities	$	9,592

Note 10 - Capital Stock and Stock-based Compensation

12 Months Ended

Dec. 31, 2020

Shareholders' Equity and Share-based Payments [Text Block]

10.

Capital Stock and Stock-Based Compensation

Preferred Stock

The Company’s Board of Directors has the authority to issue up to 5.0 million shares of preferred stock and to determine the price privileges and other terms of the shares. The Board of Directors may exercise this authority without any further approval of stockholders. As of December 31, 2020, the Company had no preferred stock issued or outstanding.

Employee Stock Purchase Plan

Under the ESPP participating employees can authorize the Company to withhold a portion of their base pay during consecutive six-month payment periods for the purchase of shares of the Company’s common stock. At the conclusion of the period, participating employees can purchase shares of the Company’s common stock at 85% of the lower of the fair market value of the Company’s common stock at the beginning or end of the period. Shares are issued under the ESPP for the six-month periods ending June 30 and December 31. On May 16, 2019, the stockholders of the Company approved an increase of 350,000 shares of common stock in the number of shares available for issuance under the ESPP. There were 126,255 and 190,642 shares issued under the ESPP during the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, there were 192,341 shares available for issuance under the ESPP.

2000 Stock Option and Incentive Plan, as Amended (“Incentive Plan”)

The stockholders of the Company have approved the Incentive Plan which authorizes the grant of stock options and stock-based awards to officers, employees, non-employee directors and other key persons of the Company and its subsidiaries. During 2020, the Board of Directors adopted an amendment to increase the aggregate number of shares authorized for issuance under the Incentive Plan by 3,700,000 shares which was approved by the stockholders at the Company’s 2020 Annual Meeting of Stockholders. As of December 31, 2020, there were 2,975,717 shares available for issuance under the Incentive Plan.

Restricted Stock Units with a Market Condition (the Market Condition RSUs)

The Compensation Committee of the Board of Directors of the Company approves and grants deferred stock awards of Market Condition RSUs (the Market Condition RSUs) to certain members of the Company’s management team under the Incentive Plan. The vesting of the Market Condition RSUs is based on a graded-vesting schedule (one third at the end of each year for three years) and linked to the achievement of a relative total shareholder return of the Company’s common stock measured from the earlier of (i) the one- year anniversary of the award or (ii) upon a change of control (measured relative to the Nasdaq Biotechnology index and based on the 20-day trading average price before each such date).

As of December 31, 2020, there are 332,622 shares of Market Condition RSUs which remain subject to a relative total shareholder return measurement which can result in vesting rates ranging from -0-% to 150% of the target number.

Stock-Based Payment Awards

The Company accounts for stock-based payment awards in accordance with the provisions of FASB ASC 718, which requires it to recognize compensation expense for all stock-based payment awards made to employees and directors including stock options, restricted stock units, Market Condition RSUs and employee stock purchases related to the ESPP. The Company has elected as an accounting policy to account for forfeitures for service-based awards as they occur, with no adjustment for estimated forfeitures.

Stock option and restricted stock unit activity under the Company’s Incentive Plan for the years ended December 31, 2020 and 2019 were as follows:

	Stock Options					Restricted Stock Units					Market Condition RSU's
				Weighted
	*Stock*			*Average*		*Restricted*					*Market*
	*Options*			*Exercise*		*Stock Units*			*Grant Date*		*Condition RSU's*			*Grant Date*
	*Outstanding*			*Price*		*Outstanding*			*Fair Value*		*Outstanding*			*Fair Value*
Balance at December 31, 2018		1,956,732		$	4.25		1,233,762		$	3.36		116,944		$	4.19
Granted		943,424			3.28		1,652,720			2.31		605,005			1.98
Exercised		(3,750	)		2.98		-			-		-			-
Vested (RSUs)		-			-		(813,762	)		3.29		(3,778	)		4.19
Cancelled/Forfeited		(630,284	)		3.96		(482,270	)		3.42		(188,680	)		4.18
Balance at December 31, 2019		2,266,122			3.93		1,590,450			2.27		529,491			1.67
Granted		894,154			2.61		1,027,486			2.75		332,622			2.98
Exercised		(253,853	)		3.94		-			-		-			-
Vested (RSUs)		-			-		(930,985	)		2.41		(240,205	)		1.53
Cancelled/Forfeited		(269,084	)		3.68		(126,490	)		3.13		(41,932	)		3.04
Market Condition RSU - factor adjustment		-			-		-			-		233,055			1.47
Balance at December 31, 2020		2,637,339		$	3.51		1,560,461		$	2.44		813,031		$	2.12

For Market Condition RSUs granted during the year ended December 31, 2019, the total shareholder return of the Company’s common stock in 2020 relative to the Nasdaq Biotechnology index resulted in a positive performance factor adjustment and the issuance of 233,055 of additional awards during the year ended December 31, 2020.

Earnings per share

Basic earnings per share is based upon net income divided by the number of weighted average common shares outstanding during the period. The calculation of diluted earnings per share assumes conversion of stock options, restricted stock units and Market Condition RSUs into common stock using the treasury method. The weighted average number of shares used to compute basic and diluted earnings per share consists of the following:

	Year Ended December 31, 2020
	2020		2019
Basic		38,640,284		37,813,580
Dilutive effect of equity awards		-		-
Diluted		38,640,284		37,813,580

The Company has excluded from the shares used in calculating the diluted earnings per common share options, restricted stock units and Market Condition RSUs totaling 5,010,931 and 4,386,063, as of December 31, 2020 and 2019 respectively, as the impact of these shares would be anti-dilutive.

The Company’s policy is to issue stock available from its registered but unissued stock pool through its transfer agent to satisfy stock option exercises and vesting of the restricted stock units.

The following table summarizes outstanding and exercisable options as of December 31, 2020 (Aggregate Intrinsic Value, in thousands):

			Options Outstanding								Options Exercisable
					Weighted								Weighted
					Average								Average
					Remaining		Weighted						Remaining		Weighted
*Range of*					*Contractual*		*Average*		*Aggregate*				*Contractual*		*Average*		*Aggregate*
*Exercise*			*Number*		*Life*		*Exercise*		*Intrinsic*		*Shares*		*Life*		*Exercise*		*Intrinsic*
*Price*			*Outstanding*		*in Years*		*Price*		*Value*		*Exercisable*		*in Years*		*Price*		*Value*

$1.78	-	2.62		357,018		7.5	$	2.27	$	723		96,488		4.8	$	2.29	$	193
2.63	-	2.66		717,044		6.4		2.63		1,190		179,264		6.4		2.63		298
2.67	-	3.92		568,784		7.1		3.33		545		348,704		6.2		3.36		323
3.93	-	4.38		587,693		2.9		4.23		35		587,693		2.9		4.23		35
4.39	-	5.63		406,800		4.3		5.37		-		401,800		4.3		5.38		-
$1.78	-	5.63		2,637,339		5.6	$	3.51	$	2,493		1,613,949		4.5	$	4.04	$	849

The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $4.29 as of December 31, 2020, which would have been received by the option holders had all option holders exercised their options as of that date. The aggregate intrinsic value of options exercised for the year ended December 31, 2020 was $92,162 and was not material for the year ended December 31, 2019. The total number of in-the-money options that were exercisable as of December 31, 2020 was 862,149.

As of December 31, 2020, the total compensation costs related to unvested awards not yet recognized is $4.4 million and the weighted average period over which it is expected to be recognized is approximately 2.3 years.

Valuation and Expense Information under Stock-Based-Payment Accounting

Stock-based compensation expense related to stock options, restricted stock units, Market Condition RSU’s and the ESPP for the years ended December 31, 2020 and 2019 was allocated as follows:

	Year Ended December 31,
(in thousands)	2020		2019
Cost of revenues	$	65	$	43
Sales and marketing expenses		263		119
General and administrative expenses		3,122		2,710
Research and development expenses		197		162
Total stock-based compensation expenses	$	3,647	$	3,034

The Company did not capitalize any stock-based compensation.

The weighted-average estimated fair value per share of stock options granted during the year ended December 31, 2020 and 2019 was $1.21 and $1.40, respectively, using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	2020			2019
Volatility		58.3	%		48.1	%
Risk-free interest rate		0.3	%		2.1	%
Expected holding period (in years)		4.4			4.7
Dividend Yield		-	%		-	%

The weighted average estimated fair value per share of the Market Condition RSUs granted during the year ended December 31, 2020 and 2019 was $2.98 and $1.98, respectively, using a Monte-Carlo valuation simulation, with the following weighted-average assumptions:

	2020			2019
Volatility		80.6	%		59	%
Risk-free interest rate		0.2	%		2	%
Correlation coefficient		31.5	%		23.6	%
Dividend Yield		-	%		-	%

The Company used historical volatility to calculate the expected volatility. Historical volatility was determined by calculating the mean reversion of the daily adjusted closing stock price. The risk-free interest rate assumption is based upon observed U.S. Treasury bill interest rates (risk-free) appropriate for the term of the Company’s stock options. The expected holding period of stock options represents the period of time options are expected to be outstanding and were based on historical experience. The vesting period ranges from one to four years and the contractual life is ten years.

Note 11 - Long Term Debt

12 Months Ended

Dec. 31, 2020

Long-term Debt [Text Block]

11.

Long Term Debt

As of December 31, 2020 and December 31, 2019, the Company’s borrowings were comprised of the following:

	December 31,
(in thousands)	2020			2019
Term loan	$	40,000		$	54,997
Revolving line		9,400			-
Less: unamortized deferred financing costs		(1,393	)		(1,180	)
Total debt		48,007			53,817
Less: current installments		(2,000	)		(3,200	)
Less: excess cash flow sweep		-			(4,093	)
Current unamortized deferred financing costs		279			393
Long-term debt	$	46,286		$	46,917

The aggregate amounts of debt maturing during the next five years are as follows:

(in thousands)
2021	$	2,000
2022		3,000
2023		3,000
2024		4,000
2025		37,400
	$	49,400

On December 22, 2020, the Company entered into a Credit Agreement (the “Credit Agreement”) with Citizens Bank, N.A., Wells Fargo Bank, National Association, and Silicon Valley Bank, (together, the “Lenders”). The Credit Agreement provides for a term loan of $40.0 million and a $25.0 million senior revolving credit facility (including a $10.0 million sub-facility for the issuance of letters of credit and a $ 10.0 million swingline loan sub-facility) (collectively, the “Citizens Credit Facility”). The Company’s obligations under the Credit Agreement are guaranteed by certain of the Company’s direct, domestic wholly-owned subsidiaries; none of the Company’s direct or indirect foreign subsidiaries has guaranteed the Citizens Credit Facility. The Company’s obligations under the Credit Agreement are secured by substantially all of the assets of Harvard Bioscience, Inc. and each guarantor (including all or a portion of the equity interests in certain of the Company’s domestic and foreign subsidiaries). The Citizens Credit Facility matures on December 22, 2025. Issuance costs of $1.3 million are amortized over the contractual term to maturity date on a straight-line basis, which approximates the effective interest method. As of December 31, 2020, available borrowing capacity under the revolving line of credit was $15.6 million.

The Credit Agreement replaces the Company’s prior credit facility (the “Prior Credit Facility”) for which Cerberus Business Finance, LLC, served as collateral agent and administrative agent. The Prior Credit Facility consisted of a revolving credit facility and a term loan and was scheduled to expire on January 31, 2023. On December 22, 2020, the Company paid the Prior Credit Facility outstanding borrowing balance of $46.7 million, paid $0.6 million in debt extinguishment costs, and wrote off the remaining balance of its unamortized debt issuance cost which amounted to $0.8 million. The write-off of the unamortized debt issuance costs is included in the Other expense – debt extinguishment and related costs in the Consolidated Statements of Operations. The Company financed the payoff of the outstanding borrowings under the Prior Credit Facility with borrowings under the Citizens Credit Facility.

Borrowings under the Citizens Credit Facility will, at the option of the Company, bear interest at either (i) a rate per annum based on LIBOR for an interest period of one, two, three or six months, plus an applicable interest rate margin determined as provided in the Credit Agreement (a “LIBOR Loan”), or (ii) an alternative base rate plus an applicable interest rate margin, each as determined as provided in the Credit Agreement (an “ABR Loan”). LIBOR interest under the Credit Agreement is subject to applicable market rates and a floor of 0.50 %. The alternative base rate is based on the Citizens Bank prime rate or the federal funds effective rate of the Federal Reserve Bank of New York and is subject to a floor of 1.0%. The applicable interest rate margin varies from 2.0% per annum to 3.25% per annum for LIBOR Loans, and from 1.5% per annum to 3.0% per annum for ABR Loans, in each case depending on the Company’s consolidated leverage ratio and is determined in accordance with a pricing grid set forth in the Credit Agreement (the “Pricing Grid”). Interest on LIBOR Loans is payable in arrears on the last day of each applicable interest period, and interest on ABR Loans is payable in arrears at the end of each calendar quarter. There are no prepayment penalties in the event the Company elects to prepay and terminate the Citizens Credit Facility prior to its scheduled maturity date, subject to LIBOR breakage and redeployment costs in certain circumstances.

Commencing on March 31, 2021, the outstanding term loans amortizes in equal quarterly installments equal to $0.5 million per quarter on such date and during each of the next three quarters thereafter, $0.75 million per quarter during the next eight quarters thereafter and $1.0 million per quarter thereafter, with a balloon payment at maturity. Furthermore, within ninety days after the end of the Company’s fiscal year ended December 31, 2021 and for each fiscal year thereafter, the term loans may be permanently reduced pursuant to certain mandatory prepayment events including an annual “excess cash flow sweep” of 50% of the consolidated excess cash flow, as defined in the agreement; provided that, in any fiscal year, any voluntary prepayments of the term loans shall be credited against the Company’s “excess cash flow” prepayment obligations on a dollar-for-dollar basis for such fiscal year. Amounts outstanding under the revolving credit facility can be repaid at any time but are due in full at maturity.

The Credit Agreement requires the Company pay (i) a fee on the average daily unused amount of the revolving loan of the Citizens Credit Facility payable at a rate which varies from 0.25% to 0.50% depending on the Company’s consolidated net leverage ratio, as determined in accordance with the Pricing Grid, (ii) a fee for each outstanding letter of credit at a rate per annum equal to the applicable interest rate margin for LIBOR Loans, as determined in accordance with the Pricing Grid, multiplied by the average daily amount available to be drawn under such letter of credit, and (iii) to the letter-of-credit issuer, a fronting fee which shall be at a rate agreed upon by the Company and the Lenders based on the average daily amount of the outstanding aggregate letter-of-credit obligations under the Credit Agreement.

The Credit Agreement includes customary affirmative, negative, and financial covenants binding on the Company. The negative covenants limit the ability of the Company, among other things, to incur debt, incur liens, make investments, sell assets and pay dividends on its capital stock. The financial covenants include a maximum consolidated net leverage ratio and a minimum consolidated fixed charge coverage ratio, each of which will be tested at the end of each fiscal quarter of the Company. The Credit Agreement also includes customary events of default.

As of December 31, 2020, the weighted effective interest rate on the Credit Agreement borrowings was 3.25%. The carrying value of the debt approximates fair value because the interest rate under the obligation approximates market rates of interest available to the Company for similar instruments.

On April 18, 2020, the Company entered into a promissory note with PNC Bank, National Association, which provided for a loan in the amount of $6.1 million (the “PPP Loan”) pursuant to the Paycheck Protection Program (the “PPP”) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) administered by the U.S. Small Business Administration (the “SBA”). On April 23, 2020, the SBA, in consultation with the U.S. Department of the Treasury issued guidance regarding consideration of alternate available sources of liquidity and its impact on qualification for PPP loans. The Company reassessed its business plans and liquidity available under its existing credit facility and elected to repay all PPP funds. The PPP Loan was repaid in full on May 4, 2020.

Derivatives

By using derivative financial instruments to hedge exposures to changes in interest rates, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is negative, the Company owes the counterparty and, therefore, the Company is not exposed to the counterparty’s credit risk in those circumstances. The Company minimizes counterparty credit risk in derivative instruments by entering into transactions with carefully selected major financial institutions based upon their credit profile.

Market risk is the adverse effect on the value of a derivative instrument that results from a change in interest rates. The market risk associated with interest-rate contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken.

The Company assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that may adversely impact expected future cash flows and by evaluating hedging opportunities. The Company maintains risk management control systems to monitor interest rate risk attributable to both the Company’s outstanding and forecasted debt obligations as well as the Company’s offsetting hedge positions. The risk management control systems involve the use of analytical techniques, including cash flow sensitivity analysis, to estimate the expected impact of changes in interest rates on the Company’s future cash flows.

The Company uses variable-rate LIBOR debt to finance its operations. The debt obligations expose the Company to variability in interest payments due to changes in interest rates. Management believes that it is prudent to limit the variability of a portion of its interest payments. To meet this objective, management enters into LIBOR based interest rate swap agreements to manage fluctuations in cash flows resulting from changes in the benchmark interest rate of LIBOR. These swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives LIBOR based variable interest rate payments and makes fixed interest rate payments, thereby creating the equivalent of fixed-rate debt for the notional amount of its debt hedged.

On January 31, 2018, the Company entered into the Prior Credit Facility, which comprised of a $64.0 million term loan and up to a $25.0 million revolving line of credit. Shortly after entering into the Prior Credit Facility, the Company entered into an interest rate swap contract with PNC Bank with a notional amount of $36.0 million and a termination date of January 1, 2023 in order to hedge the risk of changes in the effective benchmark interest rate (LIBOR) associated with the Company’s Term Loan. The swap contract converted specific variable-rate debt into fixed-rate debt and fixed the LIBOR rate associated with a portion of the term loan under the Prior Credit Facility at 2.72%. The interest rate swap was designated as a cash flow hedge instrument in accordance with ASC 815 “Derivatives and Hedging”.

In connection with the Credit Agreement entered into on December 22, 2020, the Company paid $0.5 million to cancel its outstanding interest rate swap agreement with PNC Bank (notional value of $23.0 million). The cancellation amount represented the fair value of the contracts at the time and was recorded as debt extinguishment and related costs in the Consolidated Statements of Operations.

The following table presents the notional amount and fair value of the Company’s derivative instruments as of December 31, 2019.

		31-Dec-19
		Notional Amount		Fair Value (a)
Derivatives instruments	*Balance sheet classification*	(in thousands)
Interest rate swaps	Other long-term liabilities	$	28,821	$	(603	)

(a) See Note 12 for the fair value measurements related to these financial instruments.

All of the Company’s derivative instruments are designated as hedging instruments. The Company has structured its interest rate swap agreements to be 100% effective and as a result, there was no impact to earnings resulting from hedge ineffectiveness. Changes in the fair value of interest rate swaps designated as hedging instruments that effectively offset the variability of cash flows associated with variable-rate, long-term debt obligations are reported in accumulated other comprehensive income (AOCI). These amounts subsequently are reclassified into interest expense as a yield adjustment of the hedged interest payments in the same period in which the related interest affects earnings. The Company’s interest rate swap agreement was deemed to be fully effective in accordance with ASC 815, and, as such, unrealized gains and losses related to these derivatives were recorded as AOCI.

The following table summarizes the effect of derivatives designated as cash flow hedging instruments and their classification within comprehensive loss for the years ended December 31, 2020 and 2019:

Derivatives in Hedging Relationships	Amount of gain (loss) recognized in
	OCI on derivative (effective portion)
	Year Ended December 31,
(in thousands)	2020			2019
Interest rate swaps	$	(206	)	$	(572	)

The following table summarizes the reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2020 and 2019:

Details about AOCI Components	Amount reclassified from AOCI
	into income (effective portion)
	Year Ended December 31,				Location of amount reclassified
(in thousands)	2020		2019		into income (effective portion)
Interest rate swaps	$	319	$	139	Interest expense
Interest rate swaps settlement		490		-	Debt extinguishment and related costs
Total	$	809	$	139

Note 12 - Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Text Block]

12.

Fair Value Measurements

The following tables present the fair value hierarchy for those assets or liabilities measured at fair value on a recurring basis:

	Fair Value as of December 31, 2019
(in thousands)	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Interest rate swap agreements	$	-	$	(603	)	$	-	$	(603	)

The Company uses the market approach technique to value its financial liabilities. The Company’s financial assets and liabilities carried at fair value include, when applicable, derivative instruments used to hedge the Company’s interest rate risks. The fair value of the Company’s interest rate swap agreements was based on LIBOR yield curves at the reporting date.

The Company had no interest rate swap agreements outstanding as of December 31, 2020, as they were cancelled on December 22, 2020, in connection with the new Credit Agreement as described in Note 11.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Note 13 - Revenues

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Text Block]

13.

Revenues

The following table represents a disaggregation of revenue from contracts with customers for the years ended December 31, 2020 and 2019:

	Year Ended December 31,
(in thousands)	2020		2019
Instruments, equipment, software and accessories	$	97,473	$	110,220
Service, maintenance and warranty contracts		4,627		5,956
Total revenues	$	102,100	$	116,176

Deferred revenue

Changes in deferred revenue from service contracts and advance payments from customers for the years ended December 31, 2020 and 2019 were as follow:

	Year Ended December 31, 2020
	Service			Customer
(in thousands)	Contracts			Advances			Total
Balance, beginning of period	$	1,587		$	2,362		$	3,949
Deferral of revenue		3,329			1,302			4,631
Recognition of deferred revenue		(3,298	)		(1,522	)		(4,820	)
Effect of foreign currency translation		11			-			11
Balance, end of period	$	1,629		$	2,142		$	3,771

	Year Ended December 31, 2019
	Service			Customer
(in thousands)	Contracts			Advances			Total
Balance, beginning of period	$	1,659		$	2,161		$	3,820
Deferral of revenue		2,152			1,095			3,247
Recognition of deferred revenue		(2,233	)		(894	)		(3,127	)
Effect of foreign currency translation		9			-			9
Balance, end of period	$	1,587		$	2,362		$	3,949

Allowance for Doubtful Accounts

Allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts. A rollforward of allowance for doubtful accounts is as follows:

	Year Ended December 31,
(in thousands)	2020			2019
Balance, beginning of period	$	325		$	332
Bad debt expense		17			288
Charge-offs and other recoveries		(124	)		(293	)
Effect of foreign currency translation		9			(2	)
Balance, end of period	$	227		$	325

Concentrations

No customer accounted for more than 10% of the revenues for the years ended December 31, 2020, and 2019. At December 31, 2020 and 2019, no customer accounted for more than 10% of net accounts receivable.

Warranties

Warranties are estimated and accrued at the time revenues are recorded. A rollforward of the Company’s product warranty accrual is as follows:

	Beginning				(Charges)\			Ending
(in thousands)	Balance		Additions		Credits			Balance
Year ended December 31, 2019	$	391		10		(149	)	$	252
Year ended December 31, 2020	$	252		77		(143	)	$	186

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.

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Note 14 - Income Tax

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Text Block]

14.

Income Tax

Income tax expense (benefit) for years ended December 31, 2020 and 2019 consisted of:

	Year Ended December 31,
(in thousands)	2020			2019
Current income tax (benefit) expense:
Federal and state	$	169		$	(707	)
Foreign		492			290
		661			(417	)
Deferred income tax (benefit) expense:
Federal and state		245			(281	)
Foreign		(388	)		(117	)
		(143	)		(398	)
Total income tax (benefit) expense	$	518		$	(815	)

The effective tax rate for the year ended December 31, 2020 was (7.1)% as compared with 14.9% for the same period in 2019. The difference between the Company’s effective tax rate year over year was primarily attributable to changes in the mix of pre-tax income and losses at individual subsidiaries as well as the impact of different tax rates in certain foreign jurisdictions, and the impact of the change in valuation allowance.

Income tax benefit for the years ended December 31, 2020 and 2019 differed from the amount computed by applying the U.S. federal income tax rate of 21% to pre-tax operations income as a result of the following:

	Year Ended December 31,
(in thousands)	2020					2019
Computed "expected" income tax benefit	$	(1,531	)	21.0	%	$	(1,161	)	21.0	%
Increase (decrease) in income taxes resulting from:
Permanent differences, net		141		(1.9	)%		241		(4.4	)%
Foreign tax rate differential		(14	)	0.2	%		42		(0.8	)%
State income taxes, net of federal income tax benefit		(77	)	1.1	%		(74	)	1.3	%
Non-deductible stock compensation expense		94		(1.3	)%		205		(3.7	)%
Tax credits		(192	)	2.6	%		220		(4.0	)%
Change in reserve for uncertain tax position		259		(3.6	)%		(111	)	2.0	%
Impact of change to prior year tax accruals		168		(2.3	)%		314		(5.7	)%
Change in valuation allowance allocated to income tax		2,130		(29.2	)%		(578	)	10.5	%
Other		(460	)	6.3	%		87		(1.4	)%
Total income tax expense (benefit)	$	518		(7.1	)%	$	(815	)	14.8	%

The Company’s policy is to account for Global Intangible Low-Taxed income (GILTI) as a period cost.

Income tax (benefit) expense is based on the following pre-tax (loss) income from operations:

	Year Ended December 31,
(in thousands)	2020			2019
Domestic	$	(7,954	)	$	(5,616	)
Foreign		662			114
Total	$	(7,292	)	$	(5,502	)

The tax effects of temporary differences that give rise to significant components of the deferred tax assets and deferred tax liabilities at December 31, 2020 and 2019 are as follows:

	Year Ended December 31,
(in thousands)	2020			2019
Deferred income tax assets:
Inventory	$	1,144		$	1,079
Operating loss and credit carryforwards		19,220			18,802
Accrued expenses		555			654
Deferred interest expense		1,476			1,475
Stock compensation		1,079			1,011
Lease liability		1,823			2,081
Other assets		458			223
Total gross deferred assets		25,755			25,325
Less: valuation allowance		(16,682	)		(13,745	)
Deferred tax assets:	$	9,073		$	11,580

Deferred income tax liabilities:
Indefinite-lived intangible assets	$	1,822		$	2,048
Definite-lived intangible assets		7,493			9,168
Right-of-use asset		1,388			1,580
Other Liabilities		14			507
Total deferred tax liabilities		10,717			13,303
Deferred income tax liability, net	$	(1,644	)	$	(1,723	)

Deferred income tax assets and liabilities by classification on the consolidated balance sheets were as follows:

	Year Ended December 31,
(in thousands)	2020			2019
Deferred tax assets (included in other long-term assets)	$	255		$	251
Deferred income tax liabilities		(1,899	)		(1,974	)
Deferred income tax liability, net	$	(1,644	)	$	(1,723	)

As of December 31, 2020 and 2019, the Company maintained a total valuation allowance of $16.7 million and $13.7 million, respectively, which relates to foreign, federal, and state deferred tax assets in both years. The valuation allowance is based on estimates of taxable income in each of the jurisdictions in which the Company operates and the period over which deferred tax assets will be recoverable. The net change in total valuation allowance for each of the years ended December 31, 2020 and December 31, 2019 was an increase of $2.9 million and a decrease of $(0.2) million, respectively. The movement in the valuation allowance in 2020 is primarily due to increases in the valuation allowance against net operating losses (NOLs) as a result of changes made by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and movement of $0.7 million was recorded to equity during the year ended December 31, 2020 related to the UK pension asset. The movement in the valuation allowance in 2019 is primarily due to a change in estimate of the realizability of certain U.S. deferred tax assets offset by changes in UK pension asset and the expiration of U.S. state credits with full valuation allowances.

At December 31, 2020, the Company had U.S. federal net operating loss carryforwards of $28.1 million, of which $22.8 million expires between 2021 and 2037, with the remainder having an unlimited carryforward period. The Company’s state net operating loss carryforwards of $19.0 million expire between 2021 and 2040. The Company has net operating loss carryforwards of $7.3 million in certain foreign jurisdictions, partially offset by valuation allowances, as well as $0.2 million non-U.S. research and development credits. The Company has foreign tax credits of $0.2 million which begin to expire in 2021, as well as $8.5 million of research and development tax credit carryforwards which begin to expire in 2021. Approximately $1.0 million of the research and development tax credit carryforwards are offset by a reserve for uncertain tax positions. The Company had $0.8 million of alternative minimum tax credit carryforwards which are not subject to expiration and become refundable under the 2017 Tax Cuts and Jobs Act. In addition, the Company had a total of $3.2 million of state investment tax credit carryforwards, research and development tax credit carryforwards, and EZ credit carryforwards, which begin to expire in 2021. The Internal Revenue Code (IRC) limits the amounts of net operating loss carryforwards or credits that a company may use in any one year in the event of a change in ownership under IRC Sections 382 or 383. As a result of the DSI acquisition as well as other acquisitions in prior years, certain losses and credit carryforwards are subject to these limitations. The Company has provided a full or partial valuation allowance for the portion of state NOLs and federal and state credit carryforwards the Company expects will expire before use.

As of December 31, 2020 and December 31, 2019, cash and cash equivalents held by the Company’s foreign subsidiaries was $2.5 million and $3.5 million, respectively. As of December 31, 2020, the Company has determined the potential income tax and withholding liability related to available cash balances at foreign subsidiaries to be immaterial.

At December 31, 2020 and 2019 the amount of unrecognized tax benefits that would affect the Company’s effective tax rate are shown in the table below:

	(in thousands)
Balance at December 31, 2018	$	1,860
Additions based on tax positions of prior years		68
Decreases based on tax positions of prior years		(133	)
Additions based on tax positions of current years		21
Settlements		(398	)
Decreases based on tax positions of acquired entities		(65	)
Balance at December 31, 2019		1,353
Additions based on tax positions of prior years		157
Decreases based on tax positions of prior years		(11	)
Additions based on tax positions of current years		213
Settlements		(39	)
Balance at December 31, 2020	$	1,673

In 2019, a foreign income tax audit was closed without payment and a reserve for $0.1 million was reversed, and the Company settled U.S. state income tax liabilities of $0.4 million. In addition, the Company reduced the reserve on tax positions of acquired entities by $0.1 million and recorded a reserve of $0.1 million related to upcoming audits. In 2020, income tax examinations began at two foreign subsidiaries and related reserves were increased approximately $0.3 million and certain state income tax issues were settled for $0.1 million.

The Company anticipates that the total unrecognized tax benefits will be reduced within the next 12 months by approximately $0.3 million due to the expected settlement of certain positions related to ongoing audits at foreign subsidiaries. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $1.7 million. The Company classifies interest and penalties related to unrecognized tax benefits as a component of income tax expense, which has not been significant during the years ended December 31, 2020 and 2019, respectively.

The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to income tax examinations by tax authorities in foreign jurisdictions for years before 2016. In the U.S., the Company's net operating loss and tax credit carryforward amounts remain subject to federal and state examination for tax years starting in 2001 as a result of tax losses incurred in prior years. There are currently no pending federal or state tax examinations. The Company is subject to audits by various foreign taxing jurisdictions.

On March 27, 2020, the CARES Act was signed into law. Under the CARES Act, the limitation on the deduction of business interest under Section 163j of the Internal Revenue Code was increased to 50% of adjusted taxable income (from 30%) for taxable years beginning in 2019 or 2020. In addition, the CARES Act corrected the Tax Cuts and Jobs Act to provide that net operating losses with unlimited carryover period are those arising in tax years beginning after December 31, 2017, rather than in tax years ending after that date. This change impacted $5.3 million of NOLs from the DSI acquisition in 2018, which no longer have an unlimited carryforward period. As a result, the Company increased the valuation allowance against these NOLs by $1.1 million. Finally, the CARES Act permits the delay of payment of employer payroll taxes from the effective date of the Act through December 31, 2020. Any payments deferred will be due 50% by December 31, 2021, and the remaining 50% by December 31, 2022.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Note 15 - Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Text Block]

15.

Commitments and Contingent Liabilities

On April 14, 2017, representatives for the estate of an individual plaintiff filed a wrongful death complaint with the Suffolk Superior Court, in the County of Suffolk, Massachusetts, against the Company and other defendants, including Biostage, Inc. (f/k/a Harvard Apparatus Regenerative Technology, Inc.), our former subsidiary that was spun off in 2013, as well as another third party. The complaint seeks payment for an unspecified amount of damages and alleges that the plaintiff sustained terminal injuries allegedly caused by products, including synthetic trachea scaffold and bioreactors, provided by certain of the named defendants and utilized in connection with surgeries performed by third parties in Europe in 2012 and 2013. The Company intends to vigorously defend this case by counsel provided by the liability insurance carrier for Biostage, Inc. While the Company believes that the claims made in this lawsuit are without merit, the Company is unable to predict the ultimate outcome of this litigation.

The Company is involved in various other claims and legal proceedings arising in the ordinary course of business. After consultation with legal counsel, the Company has determined that the ultimate disposition of such proceedings is not likely to have a material adverse effect on its business, financial condition, results of operations or cash flows. Although unfavorable outcomes in the proceedings are possible, the Company has not accrued for loss contingencies relating to any such matters as they are not considered to be probable and reasonably estimable. If one or more of these matters are resolved in a manner adverse to the Company, the impact on the Company’s business, financial condition, results of operations and cash flows could be material.

Note 16 - Segment and Related Information

12 Months Ended

Dec. 31, 2020

Segment Reporting Disclosure [Text Block]

16.

Segment and Related Information

Operating segments are determined by products and services provided by each segment, internal organization structure, the manner in which operations are managed, criteria used by the Chief Operating Decision Maker, or CODM, to assess the segment performance, as well as resource allocation and the availability of discrete financial information. The Company has one operating segment and therefore segment results and consolidated results are the same.

The following tables summarize additional selected financial information of the Company’s operations by geographic location.

Revenue by geographic destination consist of the following:

	Year Ended December 31,
(in thousands)	2020		2019
United States	$	42,054	$	47,792
Europe		29,938		35,128
Asia		23,884		25,041
Rest of the world		6,224		8,215
Total revenues	$	102,100	$	116,176

Long-lived assets by geographic area consist of the following:

	December 31,
(in thousands)	2020		2019
United States	$	36,568	$	41,993
Germany		4,958		5,468
Rest of the world		3,092		3,048
Total long-lived assets (a)	$	44,618	$	50,509

(a)

consists of operating lease right-of-use assets, property, plant and equipment, net and amortizable intangible assets, net.

Net assets by geographic area consist of the following:

	December 31,
(in thousands)	2020		2019
United States	$	32,457	$	37,726
Germany		18,697		17,340
United Kingdom		8,867		11,254
Rest of the world		16,660		15,374
Total net assets	$	76,681	$	81,694

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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Consolidation, Policy [Policy Text Block]

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

(a)

Principles of Consolidation

Use of Estimates, Policy [Policy Text Block]

(b)

Use of Estimates

Cash and Cash Equivalents, Policy [Policy Text Block]

(c)

Cash and Cash Equivalents

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]

(d)

Allowance for Doubtful Accounts

Inventory, Policy [Policy Text Block]

(e)

Inventories

Property, Plant and Equipment, Policy [Policy Text Block]

(f)

Property, Plant and Equipment

Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets as follows:

Machinery and equipment (years)	3	-	10
Computer equipment and software (years)	3	-	7
Furniture and fixtures (years)	5	-	10

Property and equipment held under capital leases and leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.

Lessee, Leases [Policy Text Block]

(g)

Leases

Income Tax, Policy [Policy Text Block]

(h)

Income Taxes

Foreign Currency Transactions and Translations Policy [Policy Text Block]

(i)

Foreign Currency Translation

Earnings Per Share, Policy [Policy Text Block]

(j)

Earnings per Share

Comprehensive Income (Loss) [Policy Text Block]

(k)

Comprehensive (Loss) Income

Revenue from Contract with Customer [Policy Text Block]

(l)

Revenue Recognition

Nature of contracts and customers

Performance obligations

Variable Consideration

Sales taxes, value added taxes, and certain excise taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are therefore excluded from revenues.

Deferred revenue

Disaggregation of revenue

Refer to Note 13 for revenue disaggregated by type as well as further information about the deferred revenue balances and to Note 16 for revenue disaggregated by geographic region.

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

(m)

Valuation of Identifiable Intangible Assets Acquired in Business Combinations

Goodwill and Intangible Assets, Policy [Policy Text Block]

(n)

Goodwill and Other Intangible Assets

Impairment of Long Lived Assets [Policy Text Block ]

(o)

Impairment of Long-Lived Assets

Derivatives, Policy [Policy Text Block]

(p)

Derivatives

Fair Value of Financial Instruments, Policy [Policy Text Block]

(q)

Fair Value of Financial Instruments

Financial reporting standards define a fair value hierarchy that consists of three levels:

Level 1 includes instruments for which quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.

Level 3 includes valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Share-based Payment Arrangement [Policy Text Block]

(r)

Stock-based Compensation

New Accounting Pronouncements, Policy [Policy Text Block]

(s)

Recent Accounting Pronouncements

Accounting Pronouncements to be Adopted

Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment, Useful Lives [Table Text Block]

Machinery and equipment (years)	3	-	10
Computer equipment and software (years)	3	-	7
Furniture and fixtures (years)	5	-	10

Note 3 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Foreign currency			Derivatives
	translation			qualifying as			Defined benefit
(in thousands)	adjustments			hedges			pension plans			Total
Balance at December 31, 2018	$	(12,630	)	$	(170	)	$	(732	)	$	(13,532	)
Other comprehensive income (loss) before reclassifications		(543	)		(572	)		1,258			143
Amounts reclassified from AOCI		-			139			561			700
Net other comprehensive (loss) income		(543	)		(433	)		1,819			843
Balance at December 31, 2019	$	(13,173	)	$	(603	)	$	1,087		$	(12,689	)
Other comprehensive income (loss) before reclassifications		1,700			(206	)		(2,785	)		(1,291	)
Amounts reclassified from AOCI		-			809			105			914
Net other comprehensive (loss) income		1,700			603			(2,680	)		(377	)
Balance at December 31, 2020	$	(11,473	)	$	-		$	(1,593	)	$	(13,066	)

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

	Affected line item in the	Year Ended December 31,
(in thousands)	Statements of Operations	2020		2019
Amounts Reclassified From AOCI
Derivatives qualifying as hedges
Realized loss on derivatives qualifying as hedges	Interest expense, net	$	319	$	139
Realized loss on derivatives qualifying as hedges	Debt extinguishment and related costs		490		-
Income tax	Income tax (benefit) expense		-		-
			809		139
Defined benefit pension plans
Amortization of net losses included in net periodic pension costs	General and administrative expenses		105		561
Income tax	Income tax (benefit) expense		-		-
			105		561
Total reclassifications		$	914	$	700

Note 4 - Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Goodwill [Table Text Block]

	December 31,
(in thousands)	2020		2019
Balance at beginning of year	$	57,381	$	57,304
Effect of change in currency translation		1,209		77
Balance at end of year	$	58,590	$	57,381

Schedule of Intangible Assets and Goodwill [Table Text Block]

			December 31,
			2020							2019
	Weighted		(in thousands)
Amortizable intangible assets:	Average Life (Years)*		Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Distribution agreements/customer relationships		8.8	$	18,237	$	(7,746	)	$	10,491	$	17,891	$	(6,340	)	$	11,551
Existing technology		5.2		38,761		(20,674	)		18,087		41,222		(19,698	)		21,524
Trade names and patents		5.4		8,681		(4,362	)		4,319		7,910		(3,715	)		4,195
Total amortizable intangible assets			$	65,679	$	(32,782	)	$	32,897	$	67,023	$	(29,753	)	$	37,270
Indefinite-lived intangible assets:									254							1,135
Total intangible assets								$	33,151						$	38,405

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	Amortization
Year Ending December 31,	Expense
	(in thousands)
2021	$	5,774
2022		5,740
2023		5,627
2024		5,318
2025		4,204
Thereafter		6,234
Total	$	32,897

Note 5 - Balance Sheet Information (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Inventory, Current [Table Text Block]

	December 31,
(in thousands)	2020		2019
Finished goods	$	4,938	$	5,561
Work in process		3,513		3,153
Raw materials		13,811		13,347
Total	$	22,262	$	22,061

Other Current Liabilities [Table Text Block]

	December 31,
(in thousands)	2020		2019
Compensation	$	3,715		2,554
Professional fees		432		395
Warranty costs		185		252
Customer related costs		1,093		963
Interest		46		425
Accrued income taxes		286		609
Other		1,721		1,502
Total	$	7,478	$	6,700

Property, Plant and Equipment [Table Text Block]

	December 31,
(in thousands)	2020			2019
Machinery and equipment	$	7,450		$	7,198
Computer equipment and software		9,114			8,954
Leasehold improvements		2,540			2,151
Furniture and fixtures		1,353			1,321
Automobiles		100			92
		20,557			19,716
Less: accumulated depreciation		(16,597	)		(14,940	)
Property, plant and equipment, net	$	3,960		$	4,776

Note 6 - Restructuring and Other Exit Costs (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Costs [Table Text Block]

	Cost of			Severance
(in thousands)	Revenue			Costs			Impairment			Other			Total
Restructuring and other exit costs	$	235		$	530		$	460		$	129		$	1,354
Non-cash charges		(235	)		-			(460	)		(10	)		(705	)
Cash payments		-			(166	)		-			(115	)		(281	)
Balance at December 31, 2019		-			364			-			4			368
Restructuring and other exit costs		-			1,625			-			408			2,033
Non-cash charges		-			-			-			(168	)		(168	)
Cash payments		-			(1,719	)		-			(226	)		(1,945	)
Balance at December 31, 2020	$	-		$	270		$	-		$	18		$	288

Note 8 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Costs of Retirement Plans [Table Text Block]

	Year Ended December 31,
(in thousands)	2020			2019
Interest cost	$	391		$	484
Expected return on plan assets		(733	)		(761	)
Net amortization loss		105			336
Recognition of net loss due to settlements		22			228
Net periodic benefit (credit) cost	$	(215	)	$	287

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

	December 31,
(in thousands)	2020			2019
Change in benefit obligation:
Balance at beginning of year	$	20,027		$	18,701
Interest cost		391			484
Actuarial loss		4,814			1,513
Settlements due to transfers paid		(205	)		(871	)
Benefits paid		(476	)		(447	)
Currency translation adjustment		968			647
Balance at end of year	$	25,519		$	20,027

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

	December 31,
(in thousands)	2020			2019
Change in fair value of plan assets:
Balance at beginning of year	$	21,114		$	17,819
Actual return on plan assets		1,690			3,172
Employer contributions		901			831
Settlement due to transfers paid		(159	)		(931	)
Benefits paid		(476	)		(447	)
Currency translation adjustment		856			670
Balance at end of year	$	23,926		$	21,114

Schedule of Net Funded Status [Table Text Block]

	December 31,
(in thousands)	2020			2019
Benefit obligation	$	(25,519	)	$	(20,027	)
Fair value of plan asset		23,926			21,114
Net funded status	$	(1,593	)	$	1,087

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

	December 31,
(in thousands)	2020			2019
Other long term (liabilities) assets	$	(1,593	)	$	1,087
Deferred income taxes		-			-
Accumulated other comprehensive loss	$	(1,593	)	$	1,087

Defined Benefit Plan, Assumptions [Table Text Block]

	Year Ended December 31,
	2020			2019
Discount rate		1.4	%		2.02	%
Expected return on assets		3.45	%		3.84	%

Schedule of Allocation of Plan Assets [Table Text Block]

	December 31,
(in thousands)	2020				2019
Asset category:
Equity securities	$	12,047	50	%	$	11,534	55	%
Debt securities		4,605	19	%		3,919	19	%
Liability driven investment funds		5,168	22	%		3,615	17	%
Cash and cash equivalents		1,860	8	%		1,514	7	%
Other		246	1	%		532	3	%
Total	$	23,926	100	%	$	21,114	100	%

Defined Benefit Plan, Plan Assets, Category [Table Text Block]

	December 31,
(in thousands)	2020		2019
Quoted Prices in Active Markets for Identical Assets (Level 1)	$	1,860	$	1,514
Significant Other Observable Inputs (Level 2)		22,066		19,600
Significant Other Unobservable Inputs (Level 3)		-		-
Total	$	23,926	$	21,114

Note 9 - Leases (Tables)

12 Months Ended

Dec. 31, 2020

Lease, Cost [Table Text Block]

	Year Ended December 31,
(in thousands)	2020			2019
Operating lease cost	$	2,153		$	2,084
Short term lease cost		175			245
Sublease income		(183	)		(429	)
Total lease cost	$	2,145		$	1,900

Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]

	Year Ended December 31,
(in thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:	$	2,717	$	2,530
Right-of-use assets obtained in exchange for lease obligations:	$	455	$	177

Supplemental Balance Sheet Informaton Related to Operating Leases [Table Text Block]

	December 31,
(in thousands)	2020			2019
Operating lease right-of use assets	$	7,761		$	8,463

Current portion, operating lease liabilities	$	2,111		$	2,424
Operating lease liabilities, long term		7,481			8,224
Total operating lease liabilities	$	9,592		$	10,648

Weighted average remaining lease term (in years)		7.4			8.1
Weighted average discount rate		9.3	%		9.2	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

(in thousands)	Operating Leases
2021	$	2,111
2022		2,018
2023		1,970
2024		1,715
2025		1,000
Thereafter		4,854
Total lease payments		13,668
Less interest		(4,076	)
Total operating lease liabilities	$	9,592

Note 10 - Capital Stock and Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Schedule Of Stock Options And Restricted Stock Units Activity Roll forward [Table Text Block]

	Stock Options					Restricted Stock Units					Market Condition RSU's
				Weighted
	*Stock*			*Average*		*Restricted*					*Market*
	*Options*			*Exercise*		*Stock Units*			*Grant Date*		*Condition RSU's*			*Grant Date*
	*Outstanding*			*Price*		*Outstanding*			*Fair Value*		*Outstanding*			*Fair Value*
Balance at December 31, 2018		1,956,732		$	4.25		1,233,762		$	3.36		116,944		$	4.19
Granted		943,424			3.28		1,652,720			2.31		605,005			1.98
Exercised		(3,750	)		2.98		-			-		-			-
Vested (RSUs)		-			-		(813,762	)		3.29		(3,778	)		4.19
Cancelled/Forfeited		(630,284	)		3.96		(482,270	)		3.42		(188,680	)		4.18
Balance at December 31, 2019		2,266,122			3.93		1,590,450			2.27		529,491			1.67
Granted		894,154			2.61		1,027,486			2.75		332,622			2.98
Exercised		(253,853	)		3.94		-			-		-			-
Vested (RSUs)		-			-		(930,985	)		2.41		(240,205	)		1.53
Cancelled/Forfeited		(269,084	)		3.68		(126,490	)		3.13		(41,932	)		3.04
Market Condition RSU - factor adjustment		-			-		-			-		233,055			1.47
Balance at December 31, 2020		2,637,339		$	3.51		1,560,461		$	2.44		813,031		$	2.12

Schedule of Weighted Average Number of Shares [Table Text Block]

	Year Ended December 31, 2020
	2020		2019
Basic		38,640,284		37,813,580
Dilutive effect of equity awards		-		-
Diluted		38,640,284		37,813,580

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

			Options Outstanding								Options Exercisable
					Weighted								Weighted
					Average								Average
					Remaining		Weighted						Remaining		Weighted
*Range of*					*Contractual*		*Average*		*Aggregate*				*Contractual*		*Average*		*Aggregate*
*Exercise*			*Number*		*Life*		*Exercise*		*Intrinsic*		*Shares*		*Life*		*Exercise*		*Intrinsic*
*Price*			*Outstanding*		*in Years*		*Price*		*Value*		*Exercisable*		*in Years*		*Price*		*Value*

$1.78	-	2.62		357,018		7.5	$	2.27	$	723		96,488		4.8	$	2.29	$	193
2.63	-	2.66		717,044		6.4		2.63		1,190		179,264		6.4		2.63		298
2.67	-	3.92		568,784		7.1		3.33		545		348,704		6.2		3.36		323
3.93	-	4.38		587,693		2.9		4.23		35		587,693		2.9		4.23		35
4.39	-	5.63		406,800		4.3		5.37		-		401,800		4.3		5.38		-
$1.78	-	5.63		2,637,339		5.6	$	3.51	$	2,493		1,613,949		4.5	$	4.04	$	849

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Year Ended December 31,
(in thousands)	2020		2019
Cost of revenues	$	65	$	43
Sales and marketing expenses		263		119
General and administrative expenses		3,122		2,710
Research and development expenses		197		162
Total stock-based compensation expenses	$	3,647	$	3,034

Monte-Carlo Valuation Simulation [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2020			2019
Volatility		80.6	%		59	%
Risk-free interest rate		0.2	%		2	%
Correlation coefficient		31.5	%		23.6	%
Dividend Yield		-	%		-	%

Black Scholes Option Pricing Model [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2020			2019
Volatility		58.3	%		48.1	%
Risk-free interest rate		0.3	%		2.1	%
Expected holding period (in years)		4.4			4.7
Dividend Yield		-	%		-	%

Note 11 - Long Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Debt [Table Text Block]

	December 31,
(in thousands)	2020			2019
Term loan	$	40,000		$	54,997
Revolving line		9,400			-
Less: unamortized deferred financing costs		(1,393	)		(1,180	)
Total debt		48,007			53,817
Less: current installments		(2,000	)		(3,200	)
Less: excess cash flow sweep		-			(4,093	)
Current unamortized deferred financing costs		279			393
Long-term debt	$	46,286		$	46,917

Schedule of Maturities of Long-term Debt [Table Text Block]

(in thousands)
2021	$	2,000
2022		3,000
2023		3,000
2024		4,000
2025		37,400
	$	49,400

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

		31-Dec-19
		Notional Amount		Fair Value (a)
Derivatives instruments	*Balance sheet classification*	(in thousands)
Interest rate swaps	Other long-term liabilities	$	28,821	$	(603	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Derivatives in Hedging Relationships	Amount of gain (loss) recognized in
	OCI on derivative (effective portion)
	Year Ended December 31,
(in thousands)	2020			2019
Interest rate swaps	$	(206	)	$	(572	)

Details about AOCI Components	Amount reclassified from AOCI
	into income (effective portion)
	Year Ended December 31,				Location of amount reclassified
(in thousands)	2020		2019		into income (effective portion)
Interest rate swaps	$	319	$	139	Interest expense
Interest rate swaps settlement		490		-	Debt extinguishment and related costs
Total	$	809	$	139

Note 12 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value as of December 31, 2019
(in thousands)	Level 1		Level 2			Level 3		Total
Assets (Liabilities)
Interest rate swap agreements	$	-	$	(603	)	$	-	$	(603	)

Note 13 - Revenues (Tables)

12 Months Ended

Dec. 31, 2020

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31,
(in thousands)	2020		2019
Instruments, equipment, software and accessories	$	97,473	$	110,220
Service, maintenance and warranty contracts		4,627		5,956
Total revenues	$	102,100	$	116,176

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	Year Ended December 31, 2020
	Service			Customer
(in thousands)	Contracts			Advances			Total
Balance, beginning of period	$	1,587		$	2,362		$	3,949
Deferral of revenue		3,329			1,302			4,631
Recognition of deferred revenue		(3,298	)		(1,522	)		(4,820	)
Effect of foreign currency translation		11			-			11
Balance, end of period	$	1,629		$	2,142		$	3,771

	Year Ended December 31, 2019
	Service			Customer
(in thousands)	Contracts			Advances			Total
Balance, beginning of period	$	1,659		$	2,161		$	3,820
Deferral of revenue		2,152			1,095			3,247
Recognition of deferred revenue		(2,233	)		(894	)		(3,127	)
Effect of foreign currency translation		9			-			9
Balance, end of period	$	1,587		$	2,362		$	3,949

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Year Ended December 31,
(in thousands)	2020			2019
Balance, beginning of period	$	325		$	332
Bad debt expense		17			288
Charge-offs and other recoveries		(124	)		(293	)
Effect of foreign currency translation		9			(2	)
Balance, end of period	$	227		$	325

Schedule of Product Warranty Liability [Table Text Block]

	Beginning				(Charges)\			Ending
(in thousands)	Balance		Additions		Credits			Balance
Year ended December 31, 2019	$	391		10		(149	)	$	252
Year ended December 31, 2020	$	252		77		(143	)	$	186

Note 14 - Income Tax (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
(in thousands)	2020			2019
Current income tax (benefit) expense:
Federal and state	$	169		$	(707	)
Foreign		492			290
		661			(417	)
Deferred income tax (benefit) expense:
Federal and state		245			(281	)
Foreign		(388	)		(117	)
		(143	)		(398	)
Total income tax (benefit) expense	$	518		$	(815	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
(in thousands)	2020					2019
Computed "expected" income tax benefit	$	(1,531	)	21.0	%	$	(1,161	)	21.0	%
Increase (decrease) in income taxes resulting from:
Permanent differences, net		141		(1.9	)%		241		(4.4	)%
Foreign tax rate differential		(14	)	0.2	%		42		(0.8	)%
State income taxes, net of federal income tax benefit		(77	)	1.1	%		(74	)	1.3	%
Non-deductible stock compensation expense		94		(1.3	)%		205		(3.7	)%
Tax credits		(192	)	2.6	%		220		(4.0	)%
Change in reserve for uncertain tax position		259		(3.6	)%		(111	)	2.0	%
Impact of change to prior year tax accruals		168		(2.3	)%		314		(5.7	)%
Change in valuation allowance allocated to income tax		2,130		(29.2	)%		(578	)	10.5	%
Other		(460	)	6.3	%		87		(1.4	)%
Total income tax expense (benefit)	$	518		(7.1	)%	$	(815	)	14.8	%

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Year Ended December 31,
(in thousands)	2020			2019
Domestic	$	(7,954	)	$	(5,616	)
Foreign		662			114
Total	$	(7,292	)	$	(5,502	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Year Ended December 31,
(in thousands)	2020			2019
Deferred income tax assets:
Inventory	$	1,144		$	1,079
Operating loss and credit carryforwards		19,220			18,802
Accrued expenses		555			654
Deferred interest expense		1,476			1,475
Stock compensation		1,079			1,011
Lease liability		1,823			2,081
Other assets		458			223
Total gross deferred assets		25,755			25,325
Less: valuation allowance		(16,682	)		(13,745	)
Deferred tax assets:	$	9,073		$	11,580

Deferred income tax liabilities:
Indefinite-lived intangible assets	$	1,822		$	2,048
Definite-lived intangible assets		7,493			9,168
Right-of-use asset		1,388			1,580
Other Liabilities		14			507
Total deferred tax liabilities		10,717			13,303
Deferred income tax liability, net	$	(1,644	)	$	(1,723	)

	Year Ended December 31,
(in thousands)	2020			2019
Deferred tax assets (included in other long-term assets)	$	255		$	251
Deferred income tax liabilities		(1,899	)		(1,974	)
Deferred income tax liability, net	$	(1,644	)	$	(1,723	)

Summary of Income Tax Contingencies [Table Text Block]

	(in thousands)
Balance at December 31, 2018	$	1,860
Additions based on tax positions of prior years		68
Decreases based on tax positions of prior years		(133	)
Additions based on tax positions of current years		21
Settlements		(398	)
Decreases based on tax positions of acquired entities		(65	)
Balance at December 31, 2019		1,353
Additions based on tax positions of prior years		157
Decreases based on tax positions of prior years		(11	)
Additions based on tax positions of current years		213
Settlements		(39	)
Balance at December 31, 2020	$	1,673

Note 16 - Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from External Customers by Geographic Areas [Table Text Block]

	Year Ended December 31,
(in thousands)	2020		2019
United States	$	42,054	$	47,792
Europe		29,938		35,128
Asia		23,884		25,041
Rest of the world		6,224		8,215
Total revenues	$	102,100	$	116,176

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]

	December 31,
(in thousands)	2020		2019
United States	$	36,568	$	41,993
Germany		4,958		5,468
Rest of the world		3,092		3,048
Total long-lived assets (a)	$	44,618	$	50,509

Schedule of Net Assets By Geographic Areas [Table Text Block]

	December 31,
(in thousands)	2020		2019
United States	$	32,457	$	37,726
Germany		18,697		17,340
United Kingdom		8,867		11,254
Rest of the world		16,660		15,374
Total net assets	$	76,681	$	81,694

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Goodwill, Impairment Loss	$ 0
Impairment of Long-Lived Assets Held-for-use	$ 0
Minimum [Member]
Customer Payments Term (Day)	0 days
Minimum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	1 year
Maximum [Member]
Customer Payments Term (Day)	60 days
Maximum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	4 years

Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Machinery and Equipment [Member] \| Minimum [Member]
Property, plant and equipment useful life (Year)	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, plant and equipment useful life (Year)	10 years
Computer Equipment and Software [member] \| Minimum [Member]
Property, plant and equipment useful life (Year)	3 years
Computer Equipment and Software [member] \| Maximum [Member]
Property, plant and equipment useful life (Year)	7 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, plant and equipment useful life (Year)	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, plant and equipment useful life (Year)	10 years

Note 3 - Accumulated Other Comprehensive Loss - Changes in Each Component of Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance	$ 81,694	$ 82,724
Other comprehensive (loss) income	(377)	843
Balance	76,681	81,694
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(13,173)	(12,630)
Other comprehensive income (loss) before reclassifications	1,700	(543)
Amounts reclassified from AOCI	0	0
Other comprehensive (loss) income	1,700	(543)
Balance	(11,473)	(13,173)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(603)	(170)
Other comprehensive income (loss) before reclassifications	(206)	(572)
Amounts reclassified from AOCI	809	139
Other comprehensive (loss) income	603	(433)
Balance	0	(603)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	1,087	(732)
Other comprehensive income (loss) before reclassifications	(2,785)	1,258
Amounts reclassified from AOCI	105	561
Other comprehensive (loss) income	(2,680)	1,819
Balance	(1,593)	1,087
AOCI Attributable to Parent [Member]
Balance	(12,689)	(13,532)
Other comprehensive income (loss) before reclassifications	(1,291)	143
Amounts reclassified from AOCI	914	700
Other comprehensive (loss) income	(377)	843
Balance	$ (13,066)	$ (12,689)

Amount after tax and reclassification adjustments of other comprehensive income (loss).

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

Note 3 - Accumulated Other Comprehensive Loss - Reclassified out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Realized loss on derivatives qualifying as hedges	$ 4,831	$ 5,410
Realized loss on derivatives qualifying as hedges	1,876	0
Income tax	518	(815)
Total reclassifications	7,810	4,687
General and administrative expenses	23,509	22,760
Reclassification out of Accumulated Other Comprehensive Income [Member]
Total reclassifications	914	700
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Realized loss on derivatives qualifying as hedges	319	139
Realized loss on derivatives qualifying as hedges	490	0
Income tax	0	0
Total reclassifications	809	139
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Income tax	0	0
Total reclassifications	105	561
General and administrative expenses	$ 105	$ 561

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fully Amortized Intangible Assets, Retired	$ 3,500
Finite-Lived Intangible Assets, Gross, Total	65,679	$ 67,023
Impairment of Intangible Assets (Excluding Goodwill), Total	0
Asset Impairment Charges, Total	0	1,460
Restructuring Charges, Total	2,033	1,354
Other Asset Impairment Charges		100
Amortization of Intangible Assets, Total	5,710	5,746
Facility Closing [Member]
Restructuring Charges, Total		500
Indefinite-Lived Trade Names Reclassified to Finite-Lived [Member]
Finite-Lived Intangible Assets, Gross, Total	$ 900
In Process Research and Development [Member]
Impairment of Intangible Assets (Excluding Goodwill), Total		$ 900

Note 4 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance at beginning of year	$ 57,381	$ 57,304
Effect of change in currency translation	1,209	77
Balance at end of year	$ 58,590	$ 57,381

Note 4 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

$ 65,679

$ 67,023

(32,782)

(29,753)

Indefinite-lived intangible assets:

32,897

37,270

254

1,135

Total intangible assets, Net

$ 33,151

38,405

Distribution Agreements/Customer Relationships [Member]

Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)

^[1]

8 years 9 months 18 days

$ 18,237

17,891

(7,746)

(6,340)

Existing Technology [Member]

$ 10,491

11,551

Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)

^[1]

5 years 2 months 12 days

$ 38,761

41,222

(20,674)

(19,698)

Trade Names and Patents [Member]

$ 18,087

21,524

Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)

5 years 4 months 24 days

$ 8,681

7,910

(4,362)

(3,715)

$ 4,319

$ 4,195

[1]	Weighted average life as of December 31, 2020.

Note 4 - Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021	$ 5,774
2022	5,740
2023	5,627
2024	5,318
2025	4,204
Thereafter	6,234
Total	$ 32,897	$ 37,270

Note 5 - Balance Sheet Information - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finished goods	$ 4,938	$ 5,561
Work in process	3,513	3,153
Raw materials	13,811	13,347
Total	$ 22,262	$ 22,061

Note 5 - Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Compensation	$ 3,715	$ 2,554
Professional fees	432	395
Warranty costs	185	252
Customer related costs	1,093	963
Interest	46	425
Accrued income taxes	286	609
Other	1,721	1,502
Total	$ 7,478	$ 6,700

Note 5 - Balance Sheet Information - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Gross	$ 20,557	$ 19,716
Less: accumulated depreciation	(16,597)	(14,940)
Property, plant and equipment, net	3,960	4,776
Machinery and Equipment [Member]
Property, Plant and Equipment, Gross	7,450	7,198
Computer Equipment and Software [member]
Property, Plant and Equipment, Gross	9,114	8,954
Leasehold Improvements [Member]
Property, Plant and Equipment, Gross	2,540	2,151
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	1,353	1,321
Automobiles [Member]
Property, Plant and Equipment, Gross	$ 100	$ 92

Note 6 - Restructuring and Other Exit Costs (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring Reserve, Ending Balance	$ 288	$ 368
Restructuring Charges, Total	2,033	1,354
Selling, General and Administrative Expenses [Member]
Restructuring Charges, Total	$ 2,000	700
Impairment Charges [Member]
Restructuring Charges, Total		500
Cost of Sales [Member]
Restructuring Charges, Total		200
Facility Closing [Member]
Restructuring Charges, Total		$ 500

Note 6 - Restructuring and Other Exit Costs - Restructuring and Other Exit Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring and other exit costs	$ 2,033	$ 1,354
Non-cash charges	(168)	(705)
Cash payments	(1,945)	(281)
Balance	368
Balance	288	368
Cost of Revenues [Member]
Restructuring and other exit costs	0	235
Non-cash charges	0	(235)
Cash payments	0	0
Balance	0
Balance	0	0
Employee Severance [Member]
Restructuring and other exit costs	1,625	530
Non-cash charges	0	0
Cash payments	(1,719)	(166)
Balance	364
Balance	270	364
Impairment [Member]
Restructuring and other exit costs	0	460
Non-cash charges	0	(460)
Cash payments	0	0
Balance	0
Balance	0	0
Other Restructuring [Member]
Restructuring and other exit costs	408	129
Non-cash charges	(168)	(10)
Cash payments	(226)	(115)
Balance	4
Balance	$ 18	$ 4

Note 7 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
The Multi Channel Systems Facility and Triangle BioSystems Lease Agreements [Member]
Operating Lease, Expense	$ 0.3	$ 0.3

Note 8 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plan, Cost	$ 0.7	$ 0.7
Defined Benefit Plan, Expected Future Benefit Payment, Year One	0.6
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	0.6
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	0.7
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	0.8
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	0.8
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years	4.7
Minimum [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	$ 1.0

Note 8 - Employee Benefit Plans - Defined Benefit Pension Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest cost	$ 391	$ 484
Expected return on plan assets	(733)	(761)
Net amortization loss	105	336
Recognition of net loss due to settlements	22	228
Net periodic benefit (credit) cost	$ (215)	$ 287

Note 8 - Employee Benefit Plans - Change in Benefit Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Benefit Obligation, Balance	$ 20,027	$ 18,701
Interest cost	391	484
Actuarial loss	4,814	1,513
Settlements due to transfers paid	(205)	(871)
Benefits paid	(476)	(447)
Currency translation adjustment	968	647
Defined Benefit Plan, Benefit Obligation, Balance	$ 25,519	$ 20,027

Note 8 - Employee Benefit Plans - Change in Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Fair Value of Plan Assets, Balance	$ 21,114	$ 17,819
Actual return on plan assets	1,690	3,172
Employer contributions	901	831
Settlement due to transfers paid	(159)	(931)
Benefits paid	(476)	(447)
Currency translation adjustment	856	670
Defined Benefit Plan, Fair Value of Plan Assets, Balance	$ 23,926	$ 21,114

Amount of contribution received by defined benefit plan from employer which increases plan assets.

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

Note 8 - Employee Benefit Plans - Change in Benefit Obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Benefit obligation	$ (25,519)	$ (20,027)	$ (18,701)
Fair value of plan asset	23,926	21,114	$ 17,819
Net funded status	$ (1,593)	$ 1,087

Note 8 - Employee Benefit Plans - Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Net funded status	$ (1,593)	$ 1,087
Other Noncurrent Liabilities [Member]
Net funded status	(1,593)	1,087
Deferred Income Tax Assets [Member]
Net funded status	$ 0	$ 0

Note 8 - Employee Benefit Plans - Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Discount rate	1.40%	2.02%
Expected return on assets	3.45%	3.84%

Note 8 - Employee Benefit Plans - Fair Value and Asset Allocations of Pension Benefits (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Defined Benefit Plan, Actual Plan Asset Allocations

$ 23,926

$ 21,114

$ 17,819

100.00%

Defined Benefit Plan, Equity Securities [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 12,047

$ 11,534

50.00%

55.00%

Debt Security, Corporate, US [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

^[1]

$ 4,605

$ 3,919

19.00%

Liability Driven Investment Funds [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 5,168

$ 3,615

22.00%

17.00%

Defined Benefit Plan, Cash and Cash Equivalents [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 1,860

$ 1,514

8.00%

7.00%

Other Plan Assets [Member]

Defined Benefit Plan, Actual Plan Asset Allocations

$ 246

$ 532

1.00%

3.00%

[1]	Updated dimension from: "Debt Securities [Member]".

Note 8 - Employee Benefit Plans - Fair Value of Plan Assets By Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Fair Value of Plan Assets	$ 23,926	$ 21,114	$ 17,819
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan, Fair Value of Plan Assets	1,860	1,514
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan, Fair Value of Plan Assets	22,066	19,600
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Fair Value of Plan Assets	$ 0	$ 0

Derivatives, notional amount

Note 9 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating lease cost	$ 2,153	$ 2,084
Short term lease cost	175	245
Sublease income	(183)	(429)
Total lease cost	$ 2,145	$ 1,900

Note 9 - Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:	$ 2,717	$ 2,530
Right-of-use assets obtained in exchange for lease obligations:	$ 455	$ 177

Note 9 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating lease right-of use assets	$ 7,761	$ 8,463
Current portion, operating lease liabilities	2,111	2,424
Operating lease liabilities, long term	7,481	8,224
Total operating lease liabilities	$ 9,592	$ 10,648
Weighted average remaining lease term (in years) (Year)	7 years 4 months 24 days	8 years 1 month 6 days
Weighted average discount rate	9.30%	9.20%

Note 9 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021	$ 2,111
2022	2,018
2023	1,970
2024	1,715
2025	1,000
Thereafter	4,854
Total lease payments	13,668
Less interest	(4,076)
Total operating lease liabilities	$ 9,592	$ 10,648

Note 10 - Capital Stock and Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0
Employee Stock Purchase Plan, Consecutive Payment Periods (Year)	6 years
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date	85.00%
Increase In Number Of Shares Authorized For Issuance Under Stock Option And Incentive Plan (in shares)	350,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)	126,255	190,642
Employee Stock Ownership Plan, Shares Available for Issuance (in shares)	192,341
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	3,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	2,975,717
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	5,010,931	4,386,063
Share Price (in dollars per share)	$ 4.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 92,162
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 4,400,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 1.21	$ 1.40
Preferred Stock, Shares Issued, Total (in shares)	0
Market Condition Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	332,622	605,005
Minimum Percentage Of Target, Number of Restricted Stock Units	0.00%
Maximum Vesting Rate of the Targeted Shareholder Return, Percentage	150.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Factor Adjustment (in shares)	233,055
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 2.98	$ 1.98
In The Money Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)	862,149
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Share-based Payment Arrangement, Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year
Share-based Payment Arrangement, Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	4 years

Note 10 - Capital Stock and Stock-based Compensation - Stock Option and Restricted Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Opening Balance, Stock Options Outstanding (in shares)	2,266,122	1,956,732
Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.93	$ 4.25
Options, Granted in Period (in shares)	894,154	943,424
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share)	$ 2.61	$ 3.28
Options, exercised (in shares)	(253,853)	(3,750)
Options, exercised, weighted average exercise price (in dollars per share)	$ 3.94	$ 2.98
Options, Cancelled / Forfeited in Period (in shares)	(269,084)	(630,284)
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share)	$ 3.68	$ 3.96
Opening Balance, Stock Options Outstanding (in shares)	2,637,339	2,266,122
Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.51	$ 3.93
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units Outstanding , Balance (in shares)	1,590,450	1,233,762
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 2.27	$ 3.36
Restricted Stock Units, Granted in Period (in shares)	1,027,486	1,652,720
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share)	$ 2.75	$ 2.31
Restricted Stock Units, Vested in Period (in shares)	(930,985)	(813,762)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share)	$ 2.41	$ 3.29
Restricted Stock Units, Cancelled / Forfeited in Period (in shares)	(126,490)	(482,270)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share)	$ 3.13	$ 3.42
Market Condition RSU - factor adjustment (in shares)	0
Market Condition RSU - factor adjustment (in dollars per share)	$ 0
Restricted Stock Units Outstanding , Balance (in shares)	1,560,461	1,590,450
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 2.44	$ 2.27
Market Condition Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares)	529,491	116,944
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 1.67	$ 4.19
Restricted Stock Units, Granted in Period (in shares)	332,622	605,005
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share)	$ 2.98	$ 1.98
Restricted Stock Units, Vested in Period (in shares)	(240,205)	(3,778)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share)	$ 1.53	$ 4.19
Restricted Stock Units, Cancelled / Forfeited in Period (in shares)	(41,932)	(188,680)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share)	$ 3.04	$ 4.18
Market Condition RSU - factor adjustment (in shares)	233,055
Market Condition RSU - factor adjustment (in dollars per share)	$ 1.47
Restricted Stock Units Outstanding , Balance (in shares)	813,031	529,491
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 2.12	$ 1.67

Note 10 - Capital Stock and Stock-based Compensation - Weighted Average Number of Shares (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Basic (in shares)	38,640,284	37,813,580
Dilutive effect of equity awards (in shares)	0	0
Diluted (in shares)	38,640,284	37,813,580

Note 10 - Capital Stock and Stock-based Compensation - Outstanding and Exercisable Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Range of Exercise Price, Lower Limit (in dollars per share)	$ 1.78
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.63
Options Outstanding, Shares Outstanding (in shares) \| shares	2,637,339
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	5 years 7 months 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.51
Options Outstanding, Aggregate Intrinsic Value \| $	$ 2,493
Options Exercisable, Shares Exercisable (in shares) \| shares	1,613,949
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 6 months
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.04
Options Exercisable, Aggregate Intrinsic Value \| $	$ 849
Exercise Price Range 1 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 1.78
Range of Exercise Price, Upper Limit (in dollars per share)	$ 2.62
Options Outstanding, Shares Outstanding (in shares) \| shares	357,018
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	7 years 6 months
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.27
Options Outstanding, Aggregate Intrinsic Value \| $	$ 723
Options Exercisable, Shares Exercisable (in shares) \| shares	96,488
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 9 months 18 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.29
Options Exercisable, Aggregate Intrinsic Value \| $	$ 193
Exercise Price Range 2 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 2.63
Range of Exercise Price, Upper Limit (in dollars per share)	$ 2.66
Options Outstanding, Shares Outstanding (in shares) \| shares	717,044
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.63
Options Outstanding, Aggregate Intrinsic Value \| $	$ 1,190
Options Exercisable, Shares Exercisable (in shares) \| shares	179,264
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	6 years 4 months 24 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.63
Options Exercisable, Aggregate Intrinsic Value \| $	$ 298
Exercise Price Range 3 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 2.67
Range of Exercise Price, Upper Limit (in dollars per share)	$ 3.92
Options Outstanding, Shares Outstanding (in shares) \| shares	568,784
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	7 years 1 month 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.33
Options Outstanding, Aggregate Intrinsic Value \| $	$ 545
Options Exercisable, Shares Exercisable (in shares) \| shares	348,704
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	6 years 2 months 12 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.36
Options Exercisable, Aggregate Intrinsic Value \| $	$ 323
Exercise Price Range 4 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 3.93
Range of Exercise Price, Upper Limit (in dollars per share)	$ 4.38
Options Outstanding, Shares Outstanding (in shares) \| shares	587,693
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	2 years 10 months 24 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.23
Options Outstanding, Aggregate Intrinsic Value \| $	$ 35
Options Exercisable, Shares Exercisable (in shares) \| shares	587,693
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	2 years 10 months 24 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.23
Options Exercisable, Aggregate Intrinsic Value \| $	$ 35
Exercise Price Range 5 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 4.39
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.63
Options Outstanding, Shares Outstanding (in shares) \| shares	406,800
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	4 years 3 months 18 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 5.37
Options Outstanding, Aggregate Intrinsic Value \| $	$ 0
Options Exercisable, Shares Exercisable (in shares) \| shares	401,800
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 3 months 18 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 5.38
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0

Note 10 - Capital Stock and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation	$ 3,647	$ 3,034
Continuing Operations [Member] \| Cost of Sales [Member]
Share-based compensation	65	43
Continuing Operations [Member] \| Selling and Marketing Expense [Member]
Share-based compensation	263	119
Continuing Operations [Member] \| General and Administrative Expense [Member]
Share-based compensation	3,122	2,710
Continuing Operations [Member] \| Research and Development Expense [Member]
Share-based compensation	$ 197	$ 162

Note 10 - Capital Stock and Stock-based Compensation - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Volatility	58.30%	48.10%
Risk-free interest rate	0.30%	2.10%
Expected holding period (Year)	4 years 4 months 24 days	4 years 8 months 12 days
Dividend Yield	0.00%	0.00%

Note 10 - Capital Stock and Stock-based Compensation - Monte Carlo Assumptions (Details) - Monte-Carlo Valuation Simulation [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Volatility	80.60%	59.00%
Risk-free interest rate	0.20%	2.00%
Correlation coefficient	31.50%	23.60%
Dividend Yield	0.00%	0.00%

Note 11 - Long Term Debt (Details Textual) - USD ($) $ in Thousands			12 Months Ended
	Dec. 22, 2020	Apr. 18, 2020	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Jan. 31, 2018
Long-term Debt, Gross			$ 49,400
Debt Issuance Costs, Net, Total			1,393	$ 1,180
Repayments of Long-term Debt, Total			66,912	11,703
Payment for Debt Extinguishment or Debt Prepayment Cost			599	(0)
Write off of Deferred Debt Issuance Cost			787	0
Interest Rate Swap [Member] \| PNC Bank [Member]
Payment for Debt Extinguishment or Debt Prepayment Cost			500
Derivative Asset, Notional Amount						$ 36,000
Derivative Asset, Notional Amount Of Instrument Cancelled			$ 23,000
London Interbank Offered Rate (LIBOR) [Member] \| Interest Rate Swap [Member]
Derivative, Fixed Interest Rate						2.72%
Term Loan [Member]
Line of Credit Facility, Interest Rate at Period End			3.25%
The Credit Agreement [Member]
Debt Issuance Costs, Net, Total	$ 1,300
The Credit Agreement [Member] \| Forecast [Member]
Debt Instrument, Quarterly Payment, Current Year					$ 500
Debt Instrument Quarterly Payment Next Eight Years					750
Debt Instrument, Quarterly Payment, Thereafter					$ 1,000
Percentage of Consolidated Excess Cash Flow					50.00%
The Credit Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Interest Rate, State Floor Percentage			0.50%
The Credit Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			3.25%
The Credit Agreement [Member] \| Base Rate [Member]
Debt Instrument, Interest Rate, State Floor Percentage			1.00%
The Credit Agreement [Member] \| The ABR Loan [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.50%
The Credit Agreement [Member] \| The ABR Loan [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			3.00%
The Credit Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity			$ 15,600
The Prior Credit Facility [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 25,000
Repayments of Long-term Debt, Total	46,700
Payment for Debt Extinguishment or Debt Prepayment Cost	600
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 6,100
Term Loan [Member]
Long-term Debt, Gross			$ 40,000	$ 54,997
Term Loan [Member] \| The Prior Credit Facility [Member]
Long-term Debt, Gross						$ 64,000
Term Loan [Member] \| The Prior Credit Facility [Member] \| Revolving Credit Facility [Member]
Write off of Deferred Debt Issuance Cost	800
The LIBOR Loan and Pricing Grid Credit Agreement [Member] \| The Credit Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			2.00%
The Lenders [Member] \| The Credit Agreement [Member] \| Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	10,000
The Lenders [Member] \| The Credit Agreement [Member] \| Swingline Loan Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	10,000
The Lenders [Member] \| The Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.25%
The Lenders [Member] \| The Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.50%
The Lenders [Member] \| Term Loan [Member] \| The Credit Agreement [Member]
Long-term Debt, Gross	40,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000

Note 11 - Long Term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-term debt, gross	$ 49,400
Less: unamortized deferred financing costs	(1,393)	$ (1,180)
Total debt	48,007	53,817
Less: current installments	(2,000)	(3,200)
Less: excess cash flow sweep	0	(4,093)
Current unamortized deferred financing costs	279	393
Long-term debt	46,286	46,917
Term Loan [Member]
Long-term debt, gross	40,000	54,997
Line of Credit [Member]
Long-term debt, gross	$ 9,400	$ 0

Note 11 - Long Term Debt - Debt Maturity (Details) $ in Millions	Dec. 31, 2020 USD ($)
2021	$ 2.0
2022	3.0
2023	3.0
2024	4.0
2025	37.4
Total	$ 49.4

Note 11 - Long Term Debt - Derivative Instruments (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - Other Noncurrent Liabilities [Member]
$ in Thousands

Dec. 31, 2019

USD ($)

$ 28,821

Derivatives, fair value

$ (603)

^[1]

[1]	See Note 12 for the fair value measurements related to these financial instruments.

Note 11 - Long Term Debt - Effect of Derivatives on AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest rate swaps	$ 206	$ 572
Interest rate swaps	809	139
Interest Rate Swap [Member] \| Cash Flow Hedging [Member]
Interest rate swaps	(206)	(572)
Interest Rate Swap [Member] \| Cash Flow Hedging [Member] \| Interest Expense [Member]
Interest rate swaps	319	139
Interest Rate Swaps Settlement [Member] \| Cash Flow Hedging [Member] \| Debt Extinguishment and Related costs [Member]
Interest rate swaps	$ 490	$ 0

Note 12 - Fair Value Measurements (Details Textual) $ in Thousands	Dec. 31, 2020 USD ($)
Interest Rate Swap [Member]
Derivative Liability, Total	$ 0

Note 12 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivative liabilities	$ 0
Fair Value, Recurring [Member]
Derivative liabilities		$ (603)
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Derivative liabilities		0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Derivative liabilities		(603)
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Derivative liabilities		$ 0

Note 13 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues	$ 102,100	$ 116,176
UNITED STATES
Revenues	102,100
UNITED STATES \| Instruments, Equipment, Software, and Accessories [Member]
Revenues	97,473
UNITED STATES \| Service, Maintenance, and Warranty Contracts [Member]
Revenues	$ 4,627
UNITED KINGDOM
Revenues		116,176
UNITED KINGDOM \| Instruments, Equipment, Software, and Accessories [Member]
Revenues		110,220
UNITED KINGDOM \| Service, Maintenance, and Warranty Contracts [Member]
Revenues		$ 5,956

Amount, excluding 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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Note 13 - Revenues - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance, beginning of period	$ 3,949	$ 3,820
Deferral of revenue	4,631	3,247
Recognition of deferred revenue	(4,820)	(3,127)
Effect of foreign currency translation	11	9
Balance, end of period	3,771	3,949
Service [Member]
Balance, beginning of period	1,587	1,659
Deferral of revenue	3,329	2,152
Recognition of deferred revenue	(3,298)	(2,233)
Effect of foreign currency translation	11	9
Balance, end of period	1,629	1,587
Customer Advances [Member]
Balance, beginning of period	2,362	2,161
Deferral of revenue	1,302	1,095
Recognition of deferred revenue	(1,522)	(894)
Effect of foreign currency translation	0	0
Balance, end of period	$ 2,142	$ 2,362

Note 13 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance, beginning of period	$ 325	$ 332
Bad debt expense	17	288
Charge-offs and other recoveries	(124)	(293)
Effect of foreign currency translation	9	(2)
Balance, end of period	$ 227	$ 325

Note 13 - Revenues - Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Warranty, Beginning Balance	$ 252	$ 391
Warranty Additions	77	10
Warranty (Payments) or Credits	(143)	(149)
Warranty, Ending Balance	$ 186	$ 252

Note 14 - Income Tax (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Percent, Total	(7.10%)	14.80%
Deferred Tax Assets, Valuation Allowance, Total	$ 16,682	$ 13,745
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	2,900	(200)
Valuation Allowance, US Deferred Tax Assets and UK Pension Assets, Increase (Decrease), Amount	700
Research and Development Tax Credit Carryforwards Offset by Reserve for Uncertain Tax Positions	1,000
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	800
Deferred Tax Assets, Tax Credit Carryforwards, Total	3,200
Cash and Cash Equivalents in Foreign Subsidiaries	2,500	3,500
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	39	398
Unrecognized Tax Benefits, Decrease Resulting from Acquisition		65
Unrecognized Tax Benefits, Increase Resulting from Audits		100
Unrecognized Tax Benefits, Increase Resulting from Credits	300
Unrecognized Tax Benefits, Increase Resulting from State Income Tax Issues	100
Decrease in Unrecognized Tax Benefits is Reasonably Possible	300
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1,700
Tax Cuts and Jobs Act, Change in Tax Rate Operating Loss Carryforwards From Acquisition, CARES Act	5,300
Deferred Tax Assets, Valuation Allowance, Increase (Decrease) Due to Change in Tax Rate Operating Loss Carryforward From Acquisition CARES Act	1,100
Expire 2021 [Member]
Tax Credit Carryforward, Amount	200
Deferred Tax Assets, Tax Credit Carryforwards, Research	8,500
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	28,100
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Expire Between 2021 and 2037 [Member]
Operating Loss Carryforwards, Total	22,800
State and Local Jurisdiction [Member]
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities		400
State and Local Jurisdiction [Member] \| Expire between 2021 and 2040 [Member]
Operating Loss Carryforwards, Total	19,000
Foreign Tax Authority [Member]
Operating Loss Carryforwards, Total	7,300
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities		$ 100
Foreign Tax Authority [Member] \| Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	$ 200

Note 14 - Income Tax - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Federal and state	$ 169	$ (707)
Foreign	492	290
current income tax (benefit) expense	661	(417)
Federal and state	245	(281)
Foreign	(388)	(117)
deferred income tax (benefit) expense	(143)	(398)
Total income tax expense (benefit), amount	$ 518	$ (815)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Note 14 - Income Tax - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Computed "expected" income tax benefit, amount	$ (1,531)	$ (1,161)
Computed "expected" income tax benefit, percent	21.00%	21.00%
Permanent differences, net, amount	$ 141	$ 241
Permanent differences, net, percent	(1.90%)	(4.40%)
Foreign tax rate differential, amount	$ (14)	$ 42
Foreign tax rate differential, percent	0.20%	(0.80%)
State income taxes, net of federal income tax benefit, amount	$ (77)	$ (74)
State income taxes, net of federal income tax benefit, percent	1.10%	1.30%
Non-deductible stock compensation expense, amount	$ 94	$ 205
Non-deductible stock compensation expense, percent	(1.30%)	(3.70%)
Tax credits, amount	$ (192)	$ (220)
Tax credits, percent	2.60%	(4.00%)
Tax credits, amount	$ 192	$ 220
Change in reserve for uncertain tax position, amount	$ 259	$ (111)
Change in reserve for uncertain tax position, percent	(3.60%)	2.00%
Impact of change to prior year tax accruals, amount	$ 168	$ 314
Impact of change to prior year tax accruals, percent	(2.30%)	(5.70%)
Change in valuation allowance allocated to income tax, amount	$ 2,130	$ (578)
Change in valuation allowance allocated to income tax, percent	(29.20%)	10.50%
Other, amount	$ (460)	$ 87
Other, percent	6.30%	(1.40%)
Total income tax expense (benefit), amount	$ 518	$ (815)
Total income tax expense (benefit), percent	(7.10%)	14.80%

Note 14 - Income Tax - Pre-tax Income From Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Domestic	$ (7,954)	$ (5,616)
Foreign	662	114
Loss before income taxes	$ (7,292)	$ (5,502)

Note 14 - Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory	$ 1,144	$ 1,079
Operating loss and credit carryforwards	19,220	18,802
Accrued expenses	555	654
Deferred interest expense	1,476	1,475
Stock compensation	1,079	1,011
Lease liability	1,823	2,081
Other assets	458	223
Total gross deferred assets	25,755	25,325
Less: valuation allowance	(16,682)	(13,745)
Deferred tax assets:	9,073	11,580
Indefinite-lived intangible assets	1,822	2,048
Definite-lived intangible assets	7,493	9,168
Right-of-use asset	1,388	1,580
Other Liabilities	14	507
Total deferred tax liabilities	10,717	13,303
Deferred income tax liability, net	(1,644)	(1,723)
Deferred tax assets (included in other long-term assets)	255	251
Deferred income tax liabilities	$ (1,899)	$ (1,974)

Note 14 - Income Tax - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance	$ 1,353	$ 1,860
Additions based on tax positions of prior years	157	68
Decreases based on tax positions of prior years	(11)	(133)
Additions based on tax positions of current years	213	21
Settlements	(39)	(398)
Decreases based on tax positions of acquired entities		(65)
Balance	$ 1,673	$ 1,353

Note 16 - Segment and Related Information (Details Textual)	12 Months Ended
	Dec. 31, 2020
Number of Operating Segments	1

Note 16 - Segment and Related Information - Revenue From External Customers by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total revenues	$ 102,100	$ 116,176
UNITED STATES
Total revenues	102,100
Continuing Operations [Member]
Total revenues	102,100	116,176
Continuing Operations [Member] \| UNITED STATES
Total revenues	42,054	47,792
Continuing Operations [Member] \| Europe [Member]
Total revenues	29,938	35,128
Continuing Operations [Member] \| Asia [Member]
Total revenues	23,884	25,041
Continuing Operations [Member] \| Rest of the World [Member]
Total revenues	$ 6,224	$ 8,215

Note 16 - Segment and Related Information - Long-lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

UNITED STATES | Continuing Operations [Member]

^[1]

$ 44,618

$ 50,509

GERMANY | Continuing Operations [Member]

36,568

41,993

Rest of the World [Member] | Continuing Operations [Member]

4,958

5,468