0001171843-22-007249 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2022	Oct. 31, 2022
Document Information [Line Items]
Entity Central Index Key	0001123494
Entity Registrant Name	HARVARD BIOSCIENCE INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-33957
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3306140
Entity Address, Address Line One	84 October Hill Road
Entity Address, City or Town	Holliston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01746
City Area Code	508
Local Phone Number	893-8999
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	HBIO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,657,688

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 5,144	$ 7,821
Accounts receivable, net	15,023	21,834
Inventories	26,116	27,587
Other current assets	5,535	4,341
Total current assets	51,818	61,583
Property, plant and equipment, net	3,555	3,415
Operating lease right-of-use assets	6,019	6,897
Goodwill	54,851	57,689
Intangible assets, net	22,464	27,385
Other long-term assets	8,306	5,375
Total assets	147,013	162,344
Current liabilities:
Current portion of long-term debt	2,720	3,235
Current portion, operating lease liabilities	2,121	2,142
Accounts payable	5,877	4,911
Deferred revenue	3,642	4,266
Other current liabilities	7,000	10,762
Total current liabilities	21,360	25,316
Long-term debt, net	46,534	45,095
Deferred tax liability	1,181	1,558
Operating lease liabilities	5,539	6,488
Other long-term liabilities	420	486
Total liabilities	75,034	78,943
Commitments and contingencies - Note 12
Stockholders' equity:
Preferred stock, par value $0.01 per share, 5,000,000 shares authorized	0	0
Common stock, par value $0.01 per share, 80,000,000 shares authorized: 41,657,688 shares issued and outstanding at September 30, 2022; 41,142,876 shares issued and outstanding at December 31, 2021	453	452
Additional paid-in-capital	228,229	225,650
Accumulated deficit	(140,524)	(132,674)
Accumulated other comprehensive loss	(16,179)	(10,027)
Total stockholders' equity	71,979	83,401
Total liabilities and stockholders' equity	$ 147,013	$ 162,344

Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	41,657,688	41,142,876
Common stock, shares outstanding (in shares)	41,657,688	41,142,876

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues	$ 26,922	$ 29,663	$ 84,908	$ 85,849
Cost of revenues	14,750	13,355	39,922	37,757
Gross profit	12,172	16,308	44,986	48,092
Sales and marketing expenses	5,819	6,183	19,093	17,299
General and administrative expenses	6,324	5,458	18,630	18,190
Research and development expenses	2,763	2,660	9,480	7,848
Amortization of intangible assets	1,572	1,459	4,492	4,388
Settlement of litigation, net - Note 13	(544)	0	(233)	0
Total operating expenses	15,934	15,760	51,462	47,725
Operating (loss) income	3,762	(548)	6,476	(367)
Other expense:
Interest expense	(749)	(373)	(1,648)	(1,161)
Other expense, net	(179)	(130)	(163)	(477)
Total other expense	(928)	(503)	(1,811)	(1,638)
(Loss) income before income taxes	(4,690)	45	(8,287)	(1,271)
Income tax (benefit) expense	(1,285)	215	(437)	(22)
Net loss	$ (3,405)	$ (170)	$ (7,850)	$ (1,249)
Loss per share:
Basic and diluted loss per common share (in dollars per share)	$ (0.08)	$ (0.00)	$ (0.19)	$ (0.03)
Weighted-average common shares:
Basic and diluted (in shares)	41,637	40,754	41,353	40,202

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net loss	$ (3,405)	$ (170)	$ (7,850)	$ (1,249)
Other comprehensive loss:
Foreign currency translation adjustments	(2,936)	(1,135)	(6,152)	(1,937)
Comprehensive loss	$ (6,341)	$ (1,305)	$ (14,002)	$ (3,186)

- Definition

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

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+ Details

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	47,153,000
Balance at Dec. 31, 2020	$ 444	$ 232,357	$ (132,386)	$ (13,066)	$ (10,668)	$ 76,681
Stock option exercises (in shares)	535,000
Stock option exercises	$ 7	2,700	0	0	0	2,707
Vesting of restricted stock units (in shares)	1,196,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(385,000)
Shares withheld for taxes	$ 0	(2,653)	0	0	0	(2,653)
Stock-based compensation expense	0	3,136	0	0	0	3,136
Net loss	0	0	(1,249)	0	0	(1,249)
Other comprehensive loss	$ 0	0	0	(1,937)	0	(1,937)
Stock purchase plan (in shares)	56,000
Stock purchase plan	$ 0	202	0	0	0	202
Retirement of treasury stock (in shares)	(7,746,000)
Retirement of treasury stock	$ 0	(10,668)	0	0	10,668	0
Balance (in shares) at Sep. 30, 2021	40,809,000
Balance at Sep. 30, 2021	$ 451	225,074	(133,635)	(15,003)	0	76,887
Balance (in shares) at Jun. 30, 2021	40,486,000
Balance at Jun. 30, 2021	$ 451	225,583	(133,465)	(13,868)	0	78,701
Stock option exercises (in shares)	38,000
Stock option exercises	$ 0	150	0	0	0	150
Vesting of restricted stock units (in shares)	493,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(208,000)
Shares withheld for taxes	$ 0	(1,663)	0	0	0	(1,663)
Stock-based compensation expense	0	1,004	0	0	0	1,004
Net loss	0	0	(170)	0	0	(170)
Other comprehensive loss	$ 0	0	0	(1,135)	0	(1,135)
Balance (in shares) at Sep. 30, 2021	40,809,000
Balance at Sep. 30, 2021	$ 451	225,074	(133,635)	(15,003)	0	76,887
Balance (in shares) at Dec. 31, 2021	41,143,000
Balance at Dec. 31, 2021	$ 452	225,650	(132,674)	(10,027)	0	$ 83,401
Stock option exercises (in shares)	40,000					40,267
Stock option exercises	$ 1	106	0	0	0	$ 107
Vesting of restricted stock units (in shares)	628,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(232,000)
Shares withheld for taxes	$ 0	(1,167)	0	0	0	(1,167)
Stock-based compensation expense	0	3,401	0	0	0	3,401
Net loss	0	0	(7,850)	0	0	(7,850)
Other comprehensive loss	$ 0	0	0	(6,152)	0	(6,152)
Stock purchase plan (in shares)	78,000
Stock purchase plan	$ 0	239	0	0	0	239
Balance (in shares) at Sep. 30, 2022	41,657,000
Balance at Sep. 30, 2022	$ 453	228,229	(140,524)	(16,179)	0	71,979
Balance (in shares) at Jun. 30, 2022	41,500,000
Balance at Jun. 30, 2022	$ 453	227,413	(137,119)	(13,243)	0	77,504
Stock option exercises (in shares)	24,000
Stock option exercises	$ 0	64	0	0	0	64
Vesting of restricted stock units (in shares)	233,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(100,000)
Shares withheld for taxes	$ 0	(387)	0	0	0	(387)
Stock-based compensation expense	0	1,139	0	0	0	1,139
Net loss	0	0	(3,405)	0	0	(3,405)
Other comprehensive loss	$ 0	0	0	(2,936)	0	(2,936)
Balance (in shares) at Sep. 30, 2022	41,657,000
Balance at Sep. 30, 2022	$ 453	$ 228,229	$ (140,524)	$ (16,179)	$ 0	$ 71,979

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (7,850)	$ (1,249)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	1,122	1,311
Amortization of intangible assets	4,492	4,388
Amortization of deferred financing costs	210	210
Stock-based compensation expense	3,401	3,136
Deferred income taxes and other	(160)	(498)
Investment in Convertible Preferred Stock - Note 13	(3,900)	0
Changes in operating assets and liabilities:
Accounts receivable	6,060	(727)
Inventories	(329)	(4,048)
Other assets	(811)	(2,088)
Accounts payable and accrued expenses	(2,379)	1,901
Deferred revenue	(551)	(142)
Other liabilities	(832)	(1,049)
Net cash (used in) provided by operating activities	(1,527)	1,145
Cash flows from investing activities:
Additions to property, plant and equipment	(1,355)	(837)
Additions to intangible assets	0	(150)
Net cash used in investing activities	(1,355)	(987)
Cash flows from financing activities:
Borrowing on bank line of credit	7,800	2,500
Repayment on bank line of credit	(4,650)	(4,000)
Repayment of term debt	(2,436)	(1,500)
Debt issuance costs	0	(102)
Proceeds from exercise of stock options and employee stock purchase plan	346	2,909
Taxes paid related to net share settlement of equity awards	(1,167)	(2,653)
Net cash used in financing activities	(107)	(2,846)
Effect of exchange rate changes on cash	312	(81)
Decrease in cash and cash equivalents	(2,677)	(2,769)
Cash and cash equivalents at beginning of period	7,821	8,317
Cash and cash equivalents at end of period	5,144	5,548
Cash paid for interest	1,529	836
Cash paid for income taxes, net of refunds	$ 493	$ 506

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, and Risks and Uncertainties

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

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

1.	Basis of Presentation and Summary of Significant Accounting Policies, and Risks and Uncertainties

Basis of Presentation and Summary of Significant Accounting Policies

The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021, have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The December 31, 2021, consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of September 30, 2022, results of operations and comprehensive loss and cash flows for the three and nine months ended September 30, 2022 and 2021, as applicable, have been made. The results of operations for the three and nine months ended September 30, 2022, are not necessarily indicative of the operating results for the full fiscal year or any future periods.

The accounting policies underlying the accompanying unaudited consolidated financial statements are set forth in Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. There have been no material changes in the Company’s significant accounting policies during the three and nine months ended September 30, 2022.

Risks and Uncertainties

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 continuously evolving. Many countries continue to issue COVID-19 related policies in an attempt to control the pandemic. In particular, during the beginning of 2022, China implemented area-wide shutdowns in order to control the spread of COVID-19, which have continued for different parts of China throughout 2022.

The global supply chain has experienced significant disruptions due to electronic component and labor shortages and other macroeconomic factors which have emerged since the onset of COVID-19, leading to increased cost of freight, purchased materials, and manufacturing labor costs, while also delaying customer shipments. Accordingly, these conditions in addition to the overall impact on the global economy have negatively impacted results of operations and cash flows.

Additionally, during 2022 the global economy has experienced high levels of inflation, rising interest rates and significant fluctuations in currency values, and increasing economic uncertainty, particularly in Europe. The Company’s results of operations have been negatively impacted by higher costs of raw materials, labor and freight resulting from inflationary pressures. These factors and global events including the ongoing military conflict between Russia and Ukraine, a softening economy in Europe and rising interest rates on the Company’s debt may also have a negative impact on the Company’s results.

If business interruptions resulting from COVID-19 or the current macroeconomic conditions described above were to be prolonged or expanded in scope, the Company’s business, financial condition, results of operations and cash flows would likely be negatively impacted.

Note 2 - Recently Issued Accounting Pronouncements

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Accounting Standards Update and Change in Accounting Principle [Text Block]

2.	Recently Issued Accounting Pronouncements

Accounting Pronouncements to be Adopted

In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance (“ASU 2021-10”), which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. ASU 2021-10 impacts footnote disclosures and will be effective for the Company’s annual financial statements for the year ended December 31, 2022. The Company is currently evaluating the potential impact of adopting ASU 2021-10 will have on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which eliminates the performance of Step 2 from the goodwill impairment test. In performing its annual or interim impairment testing, an entity will instead compare the fair value of the reporting unit with its carrying amount and recognize any impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss. ASU 2017-04 will be effective for the Company for fiscal years beginning after December 15, 2022. The Company is currently evaluating the potential impact that adopting ASU 2017-04 will have on its consolidated financial statements.

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 will be effective for the Company for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company believes that the adoption of ASU 2016-13 will not have a significant impact on its consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Note 3 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

3.	Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill for the nine months ended September 30, 2022, were as follows:

(in thousands)
Carrying amount at December 31, 2021	$	57,689
Effect of change in currency translation		(2,838	)
Carrying amount at September 30, 2022	$	54,851

Intangible Assets

Identifiable intangible assets at September 30, 2022 and December 31, 2021 consist of the following:

			September 30, 2022							December 31, 2021
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		7.3	$	16,716	$	(9,034	)	$	7,682	$	17,689	$	(8,675	)	$	9,014
Existing technology		3.5		37,744		(25,748	)		11,996		38,707		(23,962	)		14,745
Trade names and patents		3.8		8,162		(5,583	)		2,579		8,496		(5,108	)		3,388
Total amortizable intangible assets			$	62,622	$	(40,365	)	$	22,257	$	64,892	$	(37,745	)	$	27,147
Indefinite-lived intangible assets:									207							238
Total intangible assets								$	22,464						$	27,385

* Weighted average life in years as of September 30, 2022

Intangible asset amortization expense was $1.6 million and $1.5 million for the three months ended September 30, 2022 and 2021, respectively, and $4.5 million and $4.4 million for the nine months ended September 30, 2022 and 2021, respectively. Estimated amortization expense of intangible assets for each of the five succeeding years and thereafter as of September 30, 2022, is as follows:

(in thousands)
2022 (remainder of year)	$	1,564
2023		5,486
2024		5,194
2025		4,009
2026		2,348
Thereafter		3,656
Total	$	22,257

Note 4 - Balance Sheet Information

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

4.	Balance Sheet Information

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

*Inventories:*	September 30,		December 31,
(in thousands)	2022		2021
Finished goods	$	5,340	$	5,646
Work in process		3,846		3,410
Raw materials		16,930		18,531
Total	$	26,116	$	27,587

*Other Current Liabilities:*	September 30,		December 31,
(in thousands)	2022		2021
Compensation	$	3,091	$	6,048
Professional fees		514		480
Warranty costs		255		240
Customer related costs		2,184		2,265
Accrued income taxes		-		224
Other		956		1,505
Total	$	7,000	$	10,762

Note 5 - Restructuring and Other Exit Costs

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

5.	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. A portion of these transformation activities are considered restructuring costs under ASC 420 – Exit or Disposal Cost Obligations and are discussed below.

During 2019, the Company initiated a restructuring program to improve operational efficiency and reduce costs which entailed consolidating and downsizing several sites and headcount reductions in Europe and North America. This program was completed in 2021. Restructuring costs under this program were $0.1 million and $1.3 million for the three and nine months ended September 30, 2021, respectively. Substantially all of these costs have been included as a component of general and administrative expenses.

During the three months ended September 30, 2022, the Company completed a review of its product portfolio in which the Company identified certain non-strategic products for discontinuation. In the three months ended September 30, 2022, we incurred charges of $1.3 million, included in cost of revenues, in connection with excess and obsolete inventory, and $0.6 million in severance expense included in general and administrative expense, in connection with headcount reductions in Europe and North America.

The following table summarizes the activity for accrued restructuring liabilities for the nine months ended September 30, 2022:

	Cost of
(in thousands)	Revenues			Severance			Other			Total
Balance at December 31, 2021	$	-		$	-		$	-		$	-
Restructuring and other exit costs		1,320			561			28			1,909
Non-cash charges		(1,320	)		-			-			(1,320	)
Cash payments		-			(82	)		(28	)		(110	)
Balance at September 30, 2022	$	-		$	479		$	-		$	479

Note 6 - Related Party Transactions

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

6.	Related Party Transactions

In connection with the 2014 acquisitions of Multi Channel Systems MCS GmbH (“MCS”), the Company entered into a facility lease agreement with the former principal owner of MCS who became an employee of the Company at the time of the acquisition and subsequently retired in 2021. The MCS agreement expires on December 31, 2024. Pursuant to this lease agreement, the Company made rent payments of approximately $0.1 million for each of the three months ended September 30, 2022 and 2021, and $0.2 million for each of the nine months ended September 30, 2022 and 2021.

Note 7 - Leases

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

7.	Leases

The Company has noncancelable operating leases for offices, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030. The components of lease expense for the three and nine months ended September 30, 2022 and 2021, are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2022			2021			2022			2021
Operating lease cost	$	486		$	521		$	1,483		$	1,544
Short-term lease cost		58			49			180			150
Sublease income		(25	)		(25	)		(76	)		(76	)
Total lease cost	$	519		$	545		$	1,587		$	1,618

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

	Nine Months Ended September 30,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:	$	1,759	$	1,791
Right-of-use assets obtained in exchange for lease obligations:	$	248	$	351

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

	September 30,			December 31,
(in thousands)	2022			2021
Operating lease right-of-use assets	$	6,019		$	6,897

Current portion, operating lease liabilities	$	2,121		$	2,142
Operating lease liabilities, long-term		5,539			6,488
Total operating lease liabilities	$	7,660		$	8,630

Weighted average remaining lease term (years)		6.4			6.7
Weighted average discount rate		9.4	%		9.3	%

Future minimum lease payments for operating leases subsequent to September 30, 2022, are as follows:

Year Ending December 31,
(in thousands)
2022 (remainder of year)	$	531
2023		2,101
2024		1,755
2025		1,052
2026		1,016
Thereafter		3,970
Total lease payments		10,425
Less imputed interest		(2,765	)
Total operating lease liabilities	$	7,660

Note 8 - Capital Stock and Stock-based Compensation

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

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

8.	Capital Stock and Stock-Based Compensation

Stock-Based Payment Awards

Stock-based awards consist of stock options, time-based restricted stock units (“RSUs”), performance-based RSUs and shares issued under the Company’s employee stock purchase plan. Activity under the Company’s equity incentive plans for the nine months ended September 30, 2022 was as follows:

				Weighted
	*Stock*			*Average*		*Time-Based*					*Performance-*
	*Options*			*Exercise*		*RSUs*			*Grant Date*		*Based RSUs*			*Grant Date*
	*Outstanding*			*Price*		*Outstanding*			*Fair Value*		*Outstanding*			*Fair Value*
Balance at December 31, 2021		1,404,816		$	3.10		1,141,164		$	3.57		860,155		$	3.13
Granted		-			-		807,345			4.91		283,641			5.38
Exercised		(40,267	)		2.64		-			-		-			-
Vested (RSUs)		-			-		(232,157	)		3.77		(396,279	)		2.09
Cancelled/Forfeited		(76,658	)		2.81		(145,580	)		4.64		(20,284	)		3.93
Balance at September 30, 2022		1,287,891		$	3.13		1,570,772		$	4.13		727,233		$	4.55

Stock-based compensation expense for the three and nine months ended September 30, 2022 and 2021 was allocated as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Cost of revenues	$	-	$	32	$	88	$	83
Sales and marketing expenses		147		149		493		373
General and administrative expenses		919		790		2,633		2,593
Research and development expenses		73		33		187		87
Total stock-based compensation expenses	$	1,139	$	1,004	$	3,401	$	3,136

As of September 30, 2022, the total compensation costs related to unvested awards not yet recognized is $6.6 million and the weighted average period over which it is expected to be recognized is approximately 1.7 years. The Company did not capitalize any stock-based compensation.

The weighted average estimated fair value of the performance-based RSUs that were granted during the nine months ended September 30, 2022 was $5.38 per unit. The following assumptions were used to estimate the fair value of the performance-based RSUs granted during the nine months ended September 30, 2022 using a Monte-Carlo valuation simulation:

	2022
Volatility		63.7	%
Risk-free interest rate		1.8	%
Correlation coefficient1		41.1	%
Dividend yield		-	%

Earnings (Loss) Per Share

Basic earnings (loss) per share (EPS) is calculated by dividing net income (loss) by the number of weighted average shares of common stock outstanding during the period. The calculation of diluted earnings per share assumes conversion of stock options, time-based RSUs, and performance-based RSUs into common stock using the treasury method. The weighted average number of shares used to compute basic and diluted EPS consists of the following:

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2022			2021			2022			2021
Net loss available to common stockholders	$	(3,405	)	$	(170	)	$	(7,850	)	$	(1,249	)
Weighted average shares outstanding - basic		41,637			40,754			41,353			40,202
Dilutive effect of equity awards		-			-			-			-
Weighted average shares outstanding - diluted		41,637			40,754			41,353			40,202
Basic and diluted loss per share	$	(0.08	)	$	(0.00	)	$	(0.19	)	$	(0.03	)
Shares excluded from diluted loss per share due to their anti-dilutive effect		3,594			3,908			3,676			4,438

Note 9 - Long-term Debt

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Long-Term Debt [Text Block]

9.	Long-Term Debt

As of September 30, 2022 and December 31, 2021, the Company’s borrowings were comprised of:

	September 30,			December 31,
(in thousands)	2022			2021
Long-term debt:
Term loan	$	35,564		$	38,000
Revolving line		14,600			11,450
Less: unamortized deferred financing costs		(910	)		(1,120	)
Total debt		49,254			48,330
Less: current installments		(3,000	)		(3,515	)
Current unamortized deferred financing costs		280			280
Long-term debt	$	46,534		$	45,095

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 “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 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 Credit Facility matures on December 22, 2025. Issuance costs of $1.4 million are amortized over the contractual term to maturity date on a straight-line basis, which approximates the effective interest method. Available and unused borrowing capacity under the revolving line of credit was $3.0 million as of September 30, 2022 based on the Credit Agreement, as amended pursuant to the first and second amendments to the Credit Agreement (the “April 2022” and “November 2022 Amendments”, respectively) described below. Total revolver borrowing capacity is limited by the consolidated net leverage ratio as defined under the amended Credit Agreement.

As part of the November 2022 Amendment, the Credit Facility’s LIBOR rate option was replaced with the Secured Overnight Financing Rate (SOFR). All references in this footnote to the LIBOR rate were changed to SOFR in connection with the November 2022 Amendment. Borrowings under the amended Credit Facility will, at the option of the Company, bear interest at either (i) a rate per annum based on SOFR for an interest period of one, two, three or six months, plus an applicable interest rate margin determined as provided in the Credit Agreement, as amended (a “SOFR 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”). SOFR 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 SOFR 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. Interest on SOFR 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 Credit Facility prior to its scheduled maturity date, subject to SOFR Loan breakage and redeployment costs in certain circumstances.

The effective interest rate for the three months ended September 30, 2022 and 2021, was 5.8% and 3.2%, respectively, and for the nine months ended September 30, 2022 and 2021, was 4.3% and 3.3%, respectively. As of September 30, 2022, the weighted average interest rate on the Company’s borrowings was 6.4%. 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.

Commencing on March 31, 2021, the outstanding term loans amortize in quarterly installments of $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, 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, as amended in April and November, 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. The Credit Agreement, as amended, also includes customary events of default.

On April 28, 2022, the Company entered into an amendment to the Credit Agreement and Pledge and Security Agreement (the “April 2022 Amendment”), pursuant to which the Lenders and the Administrative Agent agreed, among other things, (i) to modify the financial covenant relating to the consolidated net leverage ratio, and (ii) to consent to the settlement described in Note 13- Litigation Settlement. In consideration for the April 2022 Amendment, the Company paid fees of $0.2 million to the Lenders and Administrative Agent.

On November 8, 2022, the Company entered into the November 2022 Amendment, pursuant to which the Lenders and the Administrative Agent have agreed, among other things, to modify (i) the financial covenant relating to the consolidated net leverage ratio, and (ii) the definition of Consolidated EBITDA used in the calculation of certain financial covenants, including to exclude non-cash inventory charges related to the Company’s decision to discontinue non-strategic products. In consideration for the November 2022 Amendments, the Company paid fees of $0.2 million to the Lenders and the Administrative Agent.

The Company was in compliance with the covenants of the Credit Agreement, in accordance with the November 2022 Amendment, as of September 30, 2022.

Note 10 - Revenues

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

10.

Revenues

The following tables represent a disaggregation of revenue from contracts with customers for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Instruments, equipment, software and accessories	$	25,705	$	28,485	$	81,008	$	82,304
Service, maintenance and warranty contracts		1,217		1,178		3,900		3,545
Total revenues	$	26,922	$	29,663	$	84,908	$	85,849

The following tables represent a disaggregation of revenue by geographic destination for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
United States	$	11,511	$	12,709	$	38,278	$	37,300
Europe		7,344		8,366		22,361		25,569
Asia		6,730		7,161		19,080		18,588
Rest of the world		1,337		1,427		5,189		4,392
Total revenues	$	26,922	$	29,663	$	84,908	$	85,849

Deferred Revenue

The following tables provide details of deferred revenue as of the periods indicated:

	September 30,		December 31,
(in thousands)	2022		2021
Service contracts	$	1,642	$	1,976
Customer advances		2,000		2,290
Total deferred revenue	$	3,642	$	4,266

During the nine months ended September 30, 2022 and 2021 the Company recognized revenue of $2.1 million and $1.8 million from contract liabilities existing at December 31, 2021 and 2020, respectively.

Allowance for Doubtful Accounts

Allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts receivable. Activity in the allowance for doubtful accounts is as follows:

	Nine Months Ended September 30,
(in thousands)	2022			2021
Balance, beginning of period	$	136		$	227
Bad debt expense (credit)		103			(13	)
Charge-offs and other		(60	)		(76	)
Balance, end of period	$	179		$	138

Concentrations

No customer accounted for more than 10% of revenues for the three and nine months ended September 30, 2022 and 2021. At September 30, 2022 and December 21, 2021, no customer accounted for more than 10% of net accounts receivable.

- Definition

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

+ References

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+ Details

Note 11 - Income Tax

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Income Tax Disclosure [Text Block]

11.

Income Tax

Income tax (benefit) expense was $(1.3) million and $0.2 million for the three months ended September 30, 2022 and 2021, respectively, and was $(0.4) million and less than $(0.1) million for the nine months ended September 30, 2022 and 2021, respectively. The effective tax rates for the three months ended September 30, 2022 and 2021, were 27.4% and 477.8%, respectively. The effective tax rates for the nine months ended September 30, 2022 and 2021, were 5.3% and 1.7%, respectively.

The difference between the Company’s effective tax rates in 2022 and 2021 compared to the U.S. statutory tax rate of 21% is primarily due to changes in valuation allowances associated with the Company’s assessment of the likelihood of the recoverability of deferred tax assets. The Company currently has valuation allowances against substantially all of its net operating loss carryforwards and tax credit carryforwards.

- Definition

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.

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+ Details

Note 12 - Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

12.

Commitments and Contingent Liabilities

On April 27, 2022, the Company and Biostage, Inc. (f/k/a Harvard Apparatus Regenerative Technology, Inc.) (“Biostage”) executed a settlement with the plaintiffs in the Biostage Litigation (as defined below) which resolves all claims relating to the litigation as described in Note 13 – Litigation Settlement.

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 13 - Litigation Settlement

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Legal Matters and Contingencies [Text Block]

13.

Litigation Settlement

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, a former subsidiary of the Company that was spun off in 2013, as well as another third party (the “Biostage Litigation”). The complaint sought payment for an unspecified amount of damages and alleges that the plaintiff sustained terminal injuries allegedly caused by products, including one synthetic trachea scaffold and two bioreactors, provided by certain of the named defendants and utilized in connection with surgeries performed by third parties in Europe in 2012 and 2013.

On April 27, 2022, the Company and Biostage executed a settlement with the plaintiffs of the Biostage Litigation and Biostage’s products liability insurance carriers (the “Settlement”), which resolved all claims by and between the parties and Biostage’s product liability insurance carriers and resulted in the dismissal with prejudice of the wrongful death claim and all claims between the Company, Biostage and the insurance carriers. The Settlement was entered into solely by way of compromise and settlement and is not in any way an admission of liability or fault by the Company or Biostage. Biostage has indemnified the Company for all losses and expenses, including legal expenses that the Company incurred in connection with the litigation and the Settlement.

During the nine months ended September 30, 2022, the Company recorded Settlement related charges (credits) as follows:

●

During the three months ended March 31, 2022, the Company accrued $5.2 million of costs related to legal fees and the Settlement. Additionally, during the year ended December 31, 2021, the Company had incurred $0.3 million in legal fees in connection with the litigation. Due to the financial condition of Biostage, the Company determined that it was uncertain as to whether Biostage would be able to meet its indemnification obligation and had fully reserved any receivable from Biostage.

●

During the three months ended June 30, 2022, the Company recorded credit adjustments of $4.9 million to the reserve against the indemnification receivable from Biostage. These adjustments reflected: i) the issuance by Biostage of 4,000 shares of its Series E Convertible Preferred Stock (the “Series E Preferred Stock”) to the Company on June 10, 2022, in satisfaction of $4.0 million of Biostage’s total indemnification obligation, ii) the payment by Biostage of a portion of the legal fees associated with the Settlement, and iii) other accrual adjustments.

●

During the three months ended September 30, 2022, the Company recorded a credit adjustment of $0.5 million to the reserve against the indemnification receivable from Biostage due to the final payment by Biostage of the legal fees associated with the Settlement.

The Series E Preferred Stock was recorded at an estimated fair value of $4.0 million including dividends, and is included in the September 30, 2022 Consolidated Balance Sheet as a component of Other Long-Term Assets. The Series E Preferred Stock ranks senior to all classes of common stock of Biostage and all classes of preferred stock of Biostage (unless the Company consents to Biostage’s issuance of other preferred stock that is senior to or pari passu with the Series E Preferred Stock) and accrues dividends at a rate of 8% per annum that are payable in additional shares of Series E Preferred Stock. Each share of Series E Preferred Stock is convertible at any time at the option of the Company into such number of shares of Biostage common stock determined by dividing (a) the $1,000 face value of the Series E Preferred Stock plus all accrued and unpaid dividends thereon by (b) the average of the volume weighted average trading prices of Biostage’s common stock, which is currently quoted on the OTCQB Marketplace, for the 60 consecutive trading days prior to the conversion. In the event Biostage has a subsequent qualified offering of its common stock, (which is defined as an offering of Biostage common stock that coincides with its uplisting onto Nasdaq, the first subsequent public offering by Biostage, or the first subsequent private placement by Biostage resulting in gross proceeds to Biostage of at least $4,000,000), the Series E Preferred Stock is mandatorily converted into Biostage common stock at the applicable qualified offering price. Due to Biostage’s limited operating history, their overall financial condition and the limited trading volume and liquidity of Biostage’s common stock, the value of the Series E Preferred Stock could fluctuate considerably from time to time.

The Company has elected the provisions within ASC 321 Investment Securities to subsequently measure the Series E Preferred Stock at its original cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of Biostage. As of September 30, 2022, there have been no measurement adjustments to the carrying value of the Series E Preferred Stock.

Note 14 - Subsequent Event

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Subsequent Events [Text Block]

14.

Subsequent Event

Credit Agreement Amendment

On November 8, 2022, the Company entered into the November 2022 Amendment to the Credit Agreement as described in detail in Note 9 – Long-Term Debt.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	*Basis of Presentation and Summary of Significant Accounting Policies* The unaudited consolidated financial statements of Harvard Bioscience, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021, have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The December 31, 2021, consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. However, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. In the opinion of management, all adjustments, which include normal recurring adjustments necessary to present a fair statement of financial position as of September 30, 2022, results of operations and comprehensive loss and cash flows for the three and nine months ended September 30, 2022 and 2021, as applicable, have been made. The results of operations for the three and nine months ended September 30, 2022, are not necessarily indicative of the operating results for the full fiscal year or any future periods. The accounting policies underlying the accompanying unaudited consolidated financial statements are set forth in Note 2 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. There have been no material changes in the Company’s significant accounting policies during the three and nine months ended September 30, 2022.
Risks and Uncertainties Policy [Policy Text Block]	*Risks and Uncertainties* 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 continuously evolving. Many countries continue to issue COVID-19 related policies in an attempt to control the pandemic. In particular, during the beginning of 2022, China implemented area-wide shutdowns in order to control the spread of COVID-19, which have continued for different parts of China throughout 2022. The global supply chain has experienced significant disruptions due to electronic component and labor shortages and other macroeconomic factors which have emerged since the onset of COVID-19, leading to increased cost of freight, purchased materials, and manufacturing labor costs, while also delaying customer shipments. Accordingly, these conditions in addition to the overall impact on the global economy have negatively impacted results of operations and cash flows. Additionally, during 2022 the global economy has experienced high levels of inflation, rising interest rates and significant fluctuations in currency values, and increasing economic uncertainty, particularly in Europe. The Company’s results of operations have been negatively impacted by higher costs of raw materials, labor and freight resulting from inflationary pressures. These factors and global events including the ongoing military conflict between Russia and Ukraine, a softening economy in Europe and rising interest rates on the Company’s debt may also have a negative impact on the Company’s results. If business interruptions resulting from COVID-19 or the current macroeconomic conditions described above were to be prolonged or expanded in scope, the Company’s business, financial condition, results of operations and cash flows would likely be negatively impacted.

Note 3 - Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Schedule of Goodwill [Table Text Block]

(in thousands)
Carrying amount at December 31, 2021	$	57,689
Effect of change in currency translation		(2,838	)
Carrying amount at September 30, 2022	$	54,851

Schedule of Intangible Assets and Goodwill [Table Text Block]

			September 30, 2022							December 31, 2021
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		7.3	$	16,716	$	(9,034	)	$	7,682	$	17,689	$	(8,675	)	$	9,014
Existing technology		3.5		37,744		(25,748	)		11,996		38,707		(23,962	)		14,745
Trade names and patents		3.8		8,162		(5,583	)		2,579		8,496		(5,108	)		3,388
Total amortizable intangible assets			$	62,622	$	(40,365	)	$	22,257	$	64,892	$	(37,745	)	$	27,147
Indefinite-lived intangible assets:									207							238
Total intangible assets								$	22,464						$	27,385

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

(in thousands)
2022 (remainder of year)	$	1,564
2023		5,486
2024		5,194
2025		4,009
2026		2,348
Thereafter		3,656
Total	$	22,257

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Note 4 - Balance Sheet Information (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Schedule of Inventory, Current [Table Text Block]

*Inventories:*	September 30,		December 31,
(in thousands)	2022		2021
Finished goods	$	5,340	$	5,646
Work in process		3,846		3,410
Raw materials		16,930		18,531
Total	$	26,116	$	27,587

Other Current Liabilities [Table Text Block]

*Other Current Liabilities:*	September 30,		December 31,
(in thousands)	2022		2021
Compensation	$	3,091	$	6,048
Professional fees		514		480
Warranty costs		255		240
Customer related costs		2,184		2,265
Accrued income taxes		-		224
Other		956		1,505
Total	$	7,000	$	10,762

Note 5 - Restructuring and Other Exit Costs (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Restructuring and Related Costs [Table Text Block]

	Cost of
(in thousands)	Revenues			Severance			Other			Total
Balance at December 31, 2021	$	-		$	-		$	-		$	-
Restructuring and other exit costs		1,320			561			28			1,909
Non-cash charges		(1,320	)		-			-			(1,320	)
Cash payments		-			(82	)		(28	)		(110	)
Balance at September 30, 2022	$	-		$	479		$	-		$	479

Note 7 - Leases (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Lease, Cost [Table Text Block]

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2022			2021			2022			2021
Operating lease cost	$	486		$	521		$	1,483		$	1,544
Short-term lease cost		58			49			180			150
Sublease income		(25	)		(25	)		(76	)		(76	)
Total lease cost	$	519		$	545		$	1,587		$	1,618

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

	Nine Months Ended September 30,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:	$	1,759	$	1,791
Right-of-use assets obtained in exchange for lease obligations:	$	248	$	351

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

	September 30,			December 31,
(in thousands)	2022			2021
Operating lease right-of-use assets	$	6,019		$	6,897

Current portion, operating lease liabilities	$	2,121		$	2,142
Operating lease liabilities, long-term		5,539			6,488
Total operating lease liabilities	$	7,660		$	8,630

Weighted average remaining lease term (years)		6.4			6.7
Weighted average discount rate		9.4	%		9.3	%

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

Year Ending December 31,
(in thousands)
2022 (remainder of year)	$	531
2023		2,101
2024		1,755
2025		1,052
2026		1,016
Thereafter		3,970
Total lease payments		10,425
Less imputed interest		(2,765	)
Total operating lease liabilities	$	7,660

Note 8 - Capital Stock and Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

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

				Weighted
	*Stock*			*Average*		*Time-Based*					*Performance-*
	*Options*			*Exercise*		*RSUs*			*Grant Date*		*Based RSUs*			*Grant Date*
	*Outstanding*			*Price*		*Outstanding*			*Fair Value*		*Outstanding*			*Fair Value*
Balance at December 31, 2021		1,404,816		$	3.10		1,141,164		$	3.57		860,155		$	3.13
Granted		-			-		807,345			4.91		283,641			5.38
Exercised		(40,267	)		2.64		-			-		-			-
Vested (RSUs)		-			-		(232,157	)		3.77		(396,279	)		2.09
Cancelled/Forfeited		(76,658	)		2.81		(145,580	)		4.64		(20,284	)		3.93
Balance at September 30, 2022		1,287,891		$	3.13		1,570,772		$	4.13		727,233		$	4.55

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Cost of revenues	$	-	$	32	$	88	$	83
Sales and marketing expenses		147		149		493		373
General and administrative expenses		919		790		2,633		2,593
Research and development expenses		73		33		187		87
Total stock-based compensation expenses	$	1,139	$	1,004	$	3,401	$	3,136

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2022			2021			2022			2021
Net loss available to common stockholders	$	(3,405	)	$	(170	)	$	(7,850	)	$	(1,249	)
Weighted average shares outstanding - basic		41,637			40,754			41,353			40,202
Dilutive effect of equity awards		-			-			-			-
Weighted average shares outstanding - diluted		41,637			40,754			41,353			40,202
Basic and diluted loss per share	$	(0.08	)	$	(0.00	)	$	(0.19	)	$	(0.03	)
Shares excluded from diluted loss per share due to their anti-dilutive effect		3,594			3,908			3,676			4,438

Black Scholes Option Pricing Model [Member]

Notes Tables

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

	2022
Volatility		63.7	%
Risk-free interest rate		1.8	%
Correlation coefficient1		41.1	%
Dividend yield		-	%

Note 9 - Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Schedule of Debt [Table Text Block]

	September 30,			December 31,
(in thousands)	2022			2021
Long-term debt:
Term loan	$	35,564		$	38,000
Revolving line		14,600			11,450
Less: unamortized deferred financing costs		(910	)		(1,120	)
Total debt		49,254			48,330
Less: current installments		(3,000	)		(3,515	)
Current unamortized deferred financing costs		280			280
Long-term debt	$	46,534		$	45,095

Note 10 - Revenues (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Disaggregation of Revenue [Table Text Block]

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Instruments, equipment, software and accessories	$	25,705	$	28,485	$	81,008	$	82,304
Service, maintenance and warranty contracts		1,217		1,178		3,900		3,545
Total revenues	$	26,922	$	29,663	$	84,908	$	85,849

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
United States	$	11,511	$	12,709	$	38,278	$	37,300
Europe		7,344		8,366		22,361		25,569
Asia		6,730		7,161		19,080		18,588
Rest of the world		1,337		1,427		5,189		4,392
Total revenues	$	26,922	$	29,663	$	84,908	$	85,849

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

	September 30,		December 31,
(in thousands)	2022		2021
Service contracts	$	1,642	$	1,976
Customer advances		2,000		2,290
Total deferred revenue	$	3,642	$	4,266

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

	Nine Months Ended September 30,
(in thousands)	2022			2021
Balance, beginning of period	$	136		$	227
Bad debt expense (credit)		103			(13	)
Charge-offs and other		(60	)		(76	)
Balance, end of period	$	179		$	138

Note 3 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Amortization of Intangible Assets	$ 1,572	$ 1,459	$ 4,492	$ 4,388

Note 3 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Carrying amount at December 31, 2021	$ 57,689
Effect of change in currency translation	(2,838)
Carrying amount at September 30, 2022	$ 54,851

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Note 3 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Finite-Lived Intangible Assets, Gross

$ 62,622

$ 64,892

Total amortizable intangible assets

(40,365)

(37,745)

Finite-Lived Intangible Assets, Net

22,257

27,147

Indefinite-lived intangible assets:

207

238

Total intangible assets, Net

$ 22,464

27,385

Distribution Agreements/Customer Relationships [Member]

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

^[1]

7 years 3 months 18 days

Finite-Lived Intangible Assets, Gross

$ 16,716

17,689

Total amortizable intangible assets

(9,034)

(8,675)

Finite-Lived Intangible Assets, Net

$ 7,682

9,014

Existing Technology [Member]

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

^[1]

3 years 6 months

Finite-Lived Intangible Assets, Gross

$ 37,744

38,707

Total amortizable intangible assets

(25,748)

(23,962)

Finite-Lived Intangible Assets, Net

$ 11,996

14,745

Trade Names and Patents [Member]

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

^[1]

3 years 9 months 18 days

Finite-Lived Intangible Assets, Gross

$ 8,162

8,496

Total amortizable intangible assets

(5,583)

(5,108)

Finite-Lived Intangible Assets, Net

$ 2,579

$ 3,388

[1]	Weighted average life in years as of September 30, 2022

Note 3 - Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
2022 (remainder of year)	$ 1,564
2023	5,486
2024	5,194
2025	4,009
2026	2,348
Thereafter	3,656
Total	$ 22,257	$ 27,147

Note 4 - Balance Sheet Information - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finished goods	$ 5,340	$ 5,646
Work in process	3,846	3,410
Raw materials	16,930	18,531
Total	$ 26,116	$ 27,587

Note 4 - Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Compensation	$ 3,091	$ 6,048
Professional fees	514	480
Warranty costs	255	240
Customer related costs	2,184	2,265
Accrued income taxes	0	224
Other	956	1,505
Total	$ 7,000	$ 10,762

Note 5 - Restructuring and Other Exit Costs (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Charges, Total	$ 1,300	$ 100	$ 1,909	$ 1,300
General and Administrative Expense [Member]
Restructuring Charges, Total	$ 600

Note 5 - Restructuring and Other Exit Costs - Restructuring and Other Exit Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Balance			$ 0
Restructuring and other exit costs	$ 1,300	$ 100	1,909	$ 1,300
Non-cash charges			(1,320)
Cash payments			(110)
Balance	479		479
Cost of Revenues [Member]
Balance			0
Restructuring and other exit costs			1,320
Non-cash charges			(1,320)
Cash payments			0
Balance	0		0
Employee Severance [Member]
Balance			0
Restructuring and other exit costs			561
Non-cash charges			0
Cash payments			(82)
Balance	479		479
Other Restructuring [Member]
Balance			0
Restructuring and other exit costs			28
Non-cash charges			0
Cash payments			(28)
Balance	$ 0		$ 0

Note 6 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
The Multi Channel Systems Facility and Triangle BioSystems Lease Agreements [Member]
Operating Lease, Expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Note 7 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating lease cost	$ 486	$ 521	$ 1,483	$ 1,544
Short-term lease cost	58	49	180	150
Sublease income	(25)	(25)	(76)	(76)
Total lease cost	$ 519	$ 545	$ 1,587	$ 1,618

Note 7- Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:	$ 1,759	$ 1,791
Right-of-use assets obtained in exchange for lease obligations:	$ 248	$ 351

Note 7 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Operating lease right-of-use assets	$ 6,019	$ 6,897
Current portion, operating lease liabilities	2,121	2,142
Operating lease liabilities, long-term	5,539	6,488
Total operating lease liabilities	$ 7,660	$ 8,630
Weighted average remaining lease term (years) (Year)	6 years 4 months 24 days	6 years 8 months 12 days
Weighted average discount rate	9.40%	9.30%

Note 7 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
2022 (remainder of year)	$ 531
2023	2,101
2024	1,755
2025	1,052
2026	1,016
Thereafter	3,970
Total lease payments	10,425
Less imputed interest	(2,765)
Total operating lease liabilities	$ 7,660	$ 8,630

Note 8 - Capital Stock and Stock-based Compensation (Details Textual) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total \| $	$ 6.6
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 8 months 12 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 5.38

Note 8 - Capital Stock and Stock-based Compensation - Stock Option and Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Opening Balance, Stock Options Outstanding (in shares) \| shares	1,404,816
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 3.10
Options, Granted in Period (in shares) \| shares	0
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 0
Options, exercised (in shares) \| shares	(40,267)
Options, exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 2.64
Options, Cancelled / Forfeited in Period (in shares) \| shares	(76,658)
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 2.81
Opening Balance, Stock Options Outstanding (in shares) \| shares	1,287,891
Options, Outstanding, Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 3.13
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units Outstanding , Balance (in shares) \| shares	1,141,164
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 3.57
Restricted Stock Units, Granted in Period (in shares) \| shares	807,345
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 4.91
Restricted Stock Units, Vested in Period (in shares) \| shares	(232,157)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 3.77
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) \| shares	(145,580)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 4.64
Restricted Stock Units Outstanding , Balance (in shares) \| shares	1,570,772
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 4.13
Market Condition Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares) \| shares	860,155
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 3.13
Restricted Stock Units, Granted in Period (in shares) \| shares	283,641
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 5.38
Restricted Stock Units, Vested in Period (in shares) \| shares	(396,279)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 2.09
Restricted Stock Units, Cancelled / Forfeited in Period (in shares) \| shares	(20,284)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 3.93
Restricted Stock Units Outstanding , Balance (in shares) \| shares	727,233
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share) \| $ / shares	$ 4.55

Note 8 - Capital Stock and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation	$ 1,139	$ 1,004	$ 3,401	$ 3,136
Continuing Operations [Member] \| Cost of Sales [Member]
Share-based compensation	0	32	88	83
Continuing Operations [Member] \| Selling and Marketing Expense [Member]
Share-based compensation	147	149	493	373
Continuing Operations [Member] \| General and Administrative Expense [Member]
Share-based compensation	919	790	2,633	2,593
Continuing Operations [Member] \| Research and Development Expense [Member]
Share-based compensation	$ 73	$ 33	$ 187	$ 87

Note 8 - Capital Stock and Stock-based Compensation - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member] - Share-Based Payment Arrangement, Option [Member]	9 Months Ended
	Sep. 30, 2022
Volatility	63.70%
Risk-free interest rate	1.80%
Correlation coefficient1	41.10%
Dividend yield	0.00%

Note 8 - Capital Stock and Stock-based Compensation - Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net loss available to common stockholders	$ (3,405)	$ (170)	$ (7,850)	$ (1,249)
Weighted average shares outstanding - basic (in shares)	41,637	40,754	41,353	40,202
Dilutive effect of equity awards (in shares)	0	0	0	0
Weighted average shares outstanding - diluted (in shares)	41,637	40,754	41,353	40,202
Basic and diluted loss per share (in dollars per share)	$ (0.08)	$ (0.00)	$ (0.19)	$ (0.03)
Shares excluded from diluted loss per share due to their anti-dilutive effect (in shares)	3,594	3,908	3,676	4,438

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 7
-Subparagraph (a)
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 11
-Subparagraph (a)
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (c)
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+ Details

Note 9 - Long-term Debt (Details Textual) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Nov. 08, 2022	Apr. 28, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Mar. 31, 2021	Dec. 22, 2020
Debt Issuance Costs, Net, Total			$ 910		$ 910		$ 1,120
The Credit Agreement [Member]
Debt Issuance Costs, Net, Total									$ 1,400
Line of Credit Facility, Interest Rate During Period			5.80%	3.20%	4.30%	3.30%
Line of Credit Facility, Interest Rate at Period End			6.40%		6.40%
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%
Payments of Debt Restructuring Costs		$ 200
The Credit Agreement [Member] \| Subsequent Event [Member]
Payments for Debt Fees	$ 200
The Credit Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Interest Rate, State Floor Percentage			0.50%		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%		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			$ 3,000		$ 3,000
Term Loan [Member]
Long-term Debt, Gross			$ 35,564		$ 35,564		$ 38,000
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] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity									25,000
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] \| Term Loan [Member] \| The Credit Agreement [Member]
Long-term Debt, Gross									$ 40,000

Note 9 - Long-term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Less: unamortized deferred financing costs	$ (910)	$ (1,120)
Total debt	49,254	48,330
Less: current installments	(3,000)	(3,515)
Current unamortized deferred financing costs	280	280
Long-term debt	46,534	45,095
Term Loan [Member]
Long-term debt, gross	35,564	38,000
Line of Credit [Member]
Long-term debt, gross	$ 14,600	$ 11,450

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Note 10 - Revenues (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Contract with Customer, Liability, Revenue Recognized	$ 2.1	$ 1.8

Note 10 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues	$ 26,922	$ 29,663	$ 84,908	$ 85,849
Instruments, Equipment, Software, and Accessories [Member]
Revenues	25,705	28,485	81,008	82,304
Service, Maintenance, and Warranty Contracts [Member]
Revenues	$ 1,217	$ 1,178	$ 3,900	$ 3,545

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Note 10 - Revenues - Revenue by Geographic Destination (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total revenues	$ 26,922	$ 29,663	$ 84,908	$ 85,849
UNITED STATES
Total revenues	11,511	12,709	38,278	37,300
Europe [Member]
Total revenues	7,344	8,366	22,361	25,569
CHINA
Total revenues	6,730	7,161	19,080	18,588
Rest of the World [Member]
Total revenues	$ 1,337	$ 1,427	$ 5,189	$ 4,392

- Definition

+ References

+ Details

Note 10 - Revenues - Deferred Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Deferred revenue	$ 3,642	$ 4,266
Service [Member]
Deferred revenue	1,642	1,976
Customer Advances [Member]
Deferred revenue	$ 2,000	$ 2,290

Note 10 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Balance, beginning of period	$ 136	$ 227
Bad debt expense (credit)	103	(13)
Charge-offs and other	(60)	(76)
Balance, end of period	$ 179	$ 138

Note 11 - Income Tax (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Expense (Benefit), Total	$ (1,285)	$ 215	$ (437)	$ (22)
Effective Income Tax Rate Reconciliation, Percent, Total	27.40%	477.80%	5.30%	1.70%
Maximum [Member]
Income Tax Expense (Benefit), Total				$ (100)

- Definition

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

+ References + Details

Note 13 - Litigation Settlement (Details Textual) - USD ($)		3 Months Ended			9 Months Ended		12 Months Ended
	Jun. 10, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Mar. 31, 2022
Litigation Settlement, Expense		$ (544,000)		$ 0	$ (233,000)	$ 0
Series E Preferred Stock in Biostage [Member]
Equity Securities without Readily Determinable Fair Value, Amount		$ 4,000,000.0			$ 4,000,000.0
Convertible Preferred Stock [Member] \| Biostage [Member]
Preferred Stock, Dividend Rate, Percentage					8.00%
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 1,000			$ 1,000
Preferred Stock, Mandatory Conversion, Minimum Qualified Offering Amount		$ 4,000,000			$ 4,000,000
Case in Suffolk Superior Court [Member]
Loss Contingency, Estimate of Possible Loss								$ 5,200,000
Legal Fees							$ 300,000
Litigation Settlement, Expense			$ (4,900,000)
Case in Suffolk Superior Court [Member] \| Convertible Preferred Stock [Member]
Stock Issued During Period, Shares, Issued For Settlement (in shares)	4,000
Stock Issued During Period, Value, Issued for Settlement	$ 4,000,000.0
Estimated Litigation Liability		$ 500,000			$ 500,000