0001171843-23-001566 | 10-K | XBRL Viewer

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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2022	Mar. 01, 2023	Jun. 30, 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	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 141,800,000
Entity Common Stock, Shares Outstanding		42,190,043
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Hartford, Connecticut

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 4,508	$ 7,821
Accounts receivable, net	16,705	21,834
Inventories	26,439	27,587
Other current assets	3,472	4,341
Total current assets	51,124	61,583
Property, plant and equipment, net	3,366	3,415
Operating lease right-of-use assets	5,816	6,897
Goodwill	56,260	57,689
Intangible assets, net	21,014	27,385
Other long-term assets	7,780	5,375
Total assets	145,360	162,344
Current liabilities:
Current portion of long-term debt	3,811	3,235
Current portion, operating lease liabilities	2,135	2,142
Accounts payable	6,447	4,911
Deferred revenue	3,370	4,266
Other current liabilities	7,486	10,762
Total current liabilities	23,249	25,316
Long-term debt, net	43,013	45,095
Deferred tax liability	590	1,558
Operating lease liabilities	5,282	6,488
Other long-term liabilities	1,006	486
Total liabilities	73,140	78,943
Commitments and contingencies - Note 14
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: 42,081,707 shares issued and outstanding at December 31, 2022; 41,142,876 shares issued and outstanding at December 31, 2021	454	452
Additional paid-in-capital	229,008	225,650
Accumulated deficit	(142,190)	(132,674)
Accumulated other comprehensive loss	(15,052)	(10,027)
Total stockholders' equity	72,220	83,401
Total liabilities and stockholders' equity	$ 145,360	$ 162,344

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 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)	42,081,707	41,142,876
Common stock, shares outstanding (in shares)	42,081,707	41,142,876

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 113,335	$ 118,904
Cost of revenues	52,516	51,252
Gross profit	60,819	67,652
Sales and marketing expenses	25,041	24,642
General and administrative expenses	24,493	24,305
Research and development expenses	12,329	10,799
Amortization of intangible assets	6,122	5,840
Settlement of litigation, net - Note 15	(233)	0
Total operating expenses	67,752	65,586
Operating (loss) income	6,933	(2,066)
Other (expense) income:
Interest expense	(2,548)	(1,540)
Other income (expense), net	302	(666)
Total other expense	(2,246)	(2,206)
Loss before income taxes	(9,179)	(140)
Total income tax expense (benefit)	337	148
Net loss	$ (9,516)	$ (288)
Loss per share:
Basic and diluted (in dollars per share)	$ (0.23)	$ (0.01)
Weighted-average common shares:
Basic and diluted (in shares)	41,413	40,343

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net loss	$ (9,516)	$ (288)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(2,960)	(2,353)
Net (loss) gain, net of tax expense of $(695) and $ 1,160, respectively	(2,085)	4,946
Amounts reclassified from accumulated other comprehensive loss to net loss, net of tax expense of $7 and $105, respectively	20	446
Defined benefit pension plans, net of tax	(2,065)	5,392
Other comprehensive (loss) income	(5,025)	3,039
Comprehensive (loss) income	$ (14,541)	$ 2,751

- Definition

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

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Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined benefit pension plans, gain (loss), tax	$ (695)	$ 1,160
Defined benefit pension plans, reclassification, gain (loss), tax	$ 7	$ 105

Consolidated Statements of Stockholders' Equity - 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
Retirement of treasury stock (in shares)	(7,746,000)
Retirement of treasury stock	$ 0	(10,668)	0	0	10,668	$ 0
Stock option exercises (in shares)	580,000					579,968
Stock option exercises	$ 8	2,869	0	0	0	$ 2,877
Employee stock purchase plan (in shares)	96,000					100,000
Employee stock purchase plan	$ 0	437	0	0	0	$ 437
Vesting of restricted stock units (in shares)	1,571,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(511,000)
Shares withheld for taxes	$ 0	(3,514)	0	0	0	(3,514)
Stock-based compensation expense	0	4,169	0	0	0	4,169
Net loss	0	0	(288)	0	0	(288)
Other comprehensive income	$ 0	0	0	3,039	0	3,039
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	$ 2	106	0	0	0	$ 108
Employee stock purchase plan (in shares)	176,000					200,000
Employee stock purchase plan	$ 0	469	0	0	0	$ 469
Vesting of restricted stock units (in shares)	1,135,000
Vesting of restricted stock units	$ 0	0	0	0	0	0
Shares withheld for taxes (in shares)	(412,000)
Shares withheld for taxes	$ 0	(1,628)	0	0	0	(1,628)
Stock-based compensation expense	0	4,411	0	0	0	4,411
Net loss	0	0	(9,516)	0	0	(9,516)
Other comprehensive income	$ 0	0	0	(5,025)	0	(5,025)
Balance (in shares) at Dec. 31, 2022	42,082,000
Balance at Dec. 31, 2022	$ 454	$ 229,008	$ (142,190)	$ (15,052)	$ 0	$ 72,220

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (9,516)	$ (288)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	1,453	1,781
Amortization of intangible assets	6,122	5,840
Amortization of deferred financing costs	280	280
Stock-based compensation expense	4,411	4,169
Deferred income taxes and other	(414)	(330)
Convertible Preferred Stock received in Biostage Settlement - Note 15	(3,900)	0
Changes in operating assets and liabilities:
Accounts receivable	4,780	(4,294)
Inventories	252	(5,861)
Other assets	474	(439)
Accounts payable and accrued expenses	(1,399)	2,454
Deferred revenue	(851)	505
Other liabilities	(540)	(2,555)
Net cash provided by operating activities	1,152	1,262
Cash flows from investing activities:
Additions to property, plant and equipment	(1,590)	(1,195)
Additions to intangible assets	0	(150)
Net cash used in investing activities	(1,590)	(1,345)
Cash flows from financing activities:
Borrowing on bank line of credit	7,800	4,250
Repayment on bank line of credit	(6,400)	(2,200)
Repayment of term debt	(3,186)	(2,000)
Debt issuance costs	0	(102)
Proceeds from exercise of stock options and employee stock purchase plan	577	3,314
Taxes paid related to net share settlement of equity awards	(1,628)	(3,514)
Net cash used in financing activities	(2,837)	(252)
Effect of exchange rate changes on cash	(38)	(161)
Decrease in cash and cash equivalents	(3,313)	(496)
Cash and cash equivalents at beginning of period	7,821	8,317
Cash and cash equivalents at end of period	4,508	7,821
Supplemental disclosures of cash flow information:
Cash paid for interest	2,314	1,577
Cash paid for income taxes, net of refunds	$ 534	$ 577

Note 1 - Organization

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

Organization

Harvard Bioscience, Inc., a Delaware corporation (the “Company”), is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, pharmaceutical and therapy discovery, bio-production and preclinical testing for pharmaceutical and therapy 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 sells through a combination of direct and distribution channels to customers around the world.

Risks and Uncertainties

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. The Company believes these supply chain trends will continue into 2023. These conditions, in addition to the overall impact on the global economy, have negatively impacted the Company’s results of operations and cash flows.

Additionally, during 2022 the global economy has experienced high levels of inflation, rising interest rates, 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 have had a negative impact on the Company’s results of operations.

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. During the beginning of 2022, China implemented area-wide shutdowns in order to control the spread of COVID-19, which continued in different parts of China throughout 2022. Such shutdowns had an adverse impact on the Company’s financial results for fiscal 2022.

If business interruptions resulting from the current macroeconomic conditions described above or from COVID-19 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. If the impacts of the supply chain disruptions are more severe than the Company expect, it could result in longer lead times and further increased costs, all of which could materially adversely affect the Company’s business, financial condition and results of operations

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Significant Accounting Policies [Text Block]

Summary of Significant Accounting Policies

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.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles 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 as well as the defined benefit pension obligations. Estimates are also required to evaluate the value and recoverability of existing long-lived and intangible assets, including goodwill and the convertible preferred stock of Biostage held by the Company. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates.

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. Cash and cash equivalents totaled $4.5 million at December 31, 2022, of which approximately 56% was held by the Company’s foreign subsidiaries and subject to repatriation tax considerations. These foreign funds were held primarily by subsidiaries in the United Kingdom, Germany, and Spain. The Company has cash holdings in financial institutions that exceed insured limits for such financial institutions. The Company mitigate this risk by utilizing international financial institutions of high credit quality.

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.

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.

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

Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset.

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 Company has lease agreements with lease and non-lease components, which are generally accounted for separately.

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.

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

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.

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.

Comprehensive Income (Loss)

The Company reports all changes in equity during a period, resulting from net income (loss) and transactions from non-owner sources, in a financial statement in the period in which they are recognized. The Company discloses comprehensive income (loss), which encompasses net income (loss), 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 income (loss).

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 and contract research organizations. The Company also has global and regional distribution partners, and original equipment manufacturer 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.

Service revenue consists 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 revenue 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 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 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 12 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.

Definite-lived Intangible Assets

Definite-lived Intangible assets are comprised of existing technology, customer contracts and contractual relationships, and other definite-lived intangible assets. Identifiable intangible assets resulting from the acquisitions of entities accounted for using the purchase method of accounting are estimated by the Company based on the fair value of assets received. Identifiable definite-lived intangible assets are being amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from four to fifteen years.

The Company amortizes definite-lived intangible assets over their estimated useful lives and evaluates definite-lived assets for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. The carrying value is not recoverable if it exceeds the undiscounted cash flows resulting from the use of the asset and its eventual disposition. The Company’s estimate of future cash flows attributable to intangible assets requires significant judgment based on historical and anticipated results and are subject to many factors. Factors which could trigger an impairment review include significant negative industry or economic trends, significant loss of clients, and significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business.

When the Company determines that the carrying value of the assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, the Company measures the potential impairment based on a projected discounted cash flow method using a discount rate determined by management to be commensurate with the risk inherent in its current business model. An impairment loss is recognized only if the carrying amount of the asset is not recoverable and exceeds its fair value. Different assumptions and judgments could materially affect the calculation of the fair value of our assets.

Goodwill

Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired.

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 typically estimates fair value using the income approach but will also consider market approaches when appropriate. Under the income approach, the Company uses a 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, expected income tax rates, 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.

The Company evaluated its goodwill for impairment as of October 1, 2022 using a quantitative analysis under which a discounted cash flow analysis was prepared to determine whether the fair value of the reporting unit is less than its carrying value. Based on these analyses, we have determined that as of October 1, 2022, the fair value of our reporting unit exceeded the carrying value.

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, 2022, the Company concluded that none of its long-lived assets were impaired.

Derivatives

The Company monitors interest rate risk attributable to both its outstanding and forecasted debt obligations and may use 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.

Valuation of Investment in Preferred Stock

On June 10, 2022, Biostage, Inc., issued 4,000 shares of its Series E Convertible Preferred Stock (the “Series E Preferred Stock”) to the Company in satisfaction of $4.0 million of Biostage’s indemnification obligation to the Company in connection with the settlement of litigation involving Biostage, Inc. and other third parties. (See Note 15 – Litigation Settlement)

The Company recorded the Series E Preferred Stock at an initial estimated fair value of $3.9 million using an income approach which considered a discount rate and an estimated time until conversion into Biostage Inc. common stock. The Company has elected the provisions within ASC 321 Investment Securities to subsequently measure its investment at cost minus impairment, if any, plus or minus observable price changes. As of December 31, 2022, there have been no measurement adjustments to the carrying value of the Series E Preferred Stock.

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 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.

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 (Level 2).

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 issued under the Company’s 2021 Incentive Plan (the “2021 Incentive Plan”) and the Fourth Amended and Restated 2000 Stock Option and Incentive Plan (the “2000 Incentive Plan” and together with 2021 Incentive Plan, the “Incentive Plans”) 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 from its registered but unissued stock pool to satisfy stock option exercises and vesting of the restricted stock units.

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.

Recent Accounting Pronouncements

Accounting Pronouncements 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. The Company has adopted ASU 2021-10 effective January 1, 2022 and has elected to adopt the disclosure provisions of this ASU prospectively to all transactions that are reflected in the financial statements at the date of initial application and new transactions that are entered into after that date. The disclosures required by ASU 2021-10 is provided in Note 17.

Accounting Pronouncements to be Adopted

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 is effective for the Company for fiscal years beginning after December 15, 2022. The Company has determined that the adoption of ASU 2017-04 will not have a significant impact 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 is effective for the Company for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company has determined that the adoption of ASU 2016-13 will not have a significant impact on its consolidated financial statements.

Note 3 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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, 2022 and 2021, respectively, are as follows:

	Foreign currency
	translation			Defined benefit
(in thousands)	adjustments			pension plans			Total
Balance at December 31, 2020	$	(11,473	)	$	(1,593	)	$	(13,066	)
Other comprehensive income (loss) before reclassifications		(2,353	)		4,946			2,593
Amounts reclassified from AOCI		-			446			446
Net other comprehensive (loss) income		(2,353	)		5,392			3,039
Balance at December 31, 2021		(13,826	)		3,799			(10,027	)
Other comprehensive income (loss) before reclassifications		(2,960	)		(2,085	)		(5,046	)
Amounts reclassified from AOCI		-			20			20
Net other comprehensive (loss) income		(2,960	)		(2,065	)		(5,025	)
Balance at December 31, 2022	$	(16,786	)	$	1,734		$	(15,052	)

Note 4 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

The change in the carrying amount of goodwill is as follows:

	December 31,
	2022			2021
(in thousands)
Carrying amount at beginning of period	$	57,689		$	58,590
Effect of change in currency translation		(1,429	)		(901	)
Carrying amount at end of period	$	56,260		$	57,689

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

			December 31, 2022							December 31, 2021
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		7.2	$	16,124	$	(8,727	)	$	7,397	$	17,689	$	(8,675	)	$	9,014
Existing technology		3.2		37,549		(26,482	)		11,067		38,707		(23,962	)		14,745
Trade names and patents		3.7		7,523		(5,197	)		2,326		8,496		(5,108	)		3,388
Total amortizable intangible assets			$	61,196	$	(40,406	)	$	20,790	$	64,892	$	(37,745	)	$	27,147
Indefinite-lived intangible assets:									224							238
Total intangible assets								$	21,014						$	27,385

* Weighted average life in years as of December 31, 2022

During the year ended December 31, 2022, the Company wrote off approximately $2.5 million of fully amortized intangible assets of certain customer relationships and other intangibles related to discontinued product lines.

Intangible asset amortization expense was $6.1 million and $5.8 million of the years ended December 31, 2022 and 2021, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter is as follows:

(in thousands)
2023	$	5,546
2024		5,248
2025		4,020
2026		2,359
2027		1,262
Thereafter		2,355
Total	$	20,790

Note 5 - Balance Sheet Information

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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)	2022		2021
Finished goods	$	5,223	$	5,646
Work in process		3,776		3,410
Raw materials		17,440		18,531
Total	$	26,439	$	27,587

*Property, Plant and Equipment:*	December 31,
(in thousands)	2022			2021
Machinery and equipment	$	7,500		$	7,698
Computer equipment and software		6,781			6,269
Leasehold improvements		2,507			2,560
Furniture and fixtures		1,386			1,296
Automobiles		38			41
		18,212			17,864
Less: accumulated depreciation		(14,846	)		(14,449	)
Property, plant and equipment, net	$	3,366		$	3,415

During the year ended December 31, 2022, the Company wrote off approximately $0.7 million of fully depreciated property and equipment from its fixed asset records.

*Other Current Liabilities:*	December 31,
(in thousands)	2022		2021
Compensation	$	3,476	$	6,048
Professional fees		392		480
Warranty costs		268		240
Customer advances		2,368		2,265
Accrued income taxes		-		224
Other		982		1,505
Total	$	7,486	$	10,762

Note 6 - Restructuring and Other Exit Costs

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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 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.

The Company initiated a restructuring plan in 2019 to improve operational efficiency and reduce costs which entailed consolidating and downsizing several sites and headcount reductions in Europe and North America. During the year ended December 31, 2021, the Company incurred $1.3 million in expenses under this plan which was completed in 2021.

During the year ended December 31, 2022, the Company completed a review of its product portfolio and identified certain non-strategic products for discontinuation and recorded charges of $1.5 million in cost of revenue. The Company also incurred $0.9 million in severance expenses in connection with headcount reductions in Europe and North America.

The following table summarizes the restructuring activity for the years ended December 31, 2022 and 2021:

	Cost of
(in thousands)	Revenues			Severance			Other			Total
Balance at December 31, 2020	$	-		$	270		$	18		$	288
Restructuring and other exit costs		-			1,174			101			1,275
Non-cash charges		-			-			(46	)		(46	)
Cash payments		-			(1,444	)		(73	)		(1,517	)
Balance at December 31, 2021	$	-		$	-		$	-		$	-
Restructuring and other exit costs		1,471			877			46			2,394
Non-cash charges		(1,471	)		-			-			(1,471	)
Cash payments		-			(241	)		(46	)		(287	)
Balance at December 31, 2022	$	-		$	636		$	-		$	636

Substantially all of the severance and other costs detailed above have been included as a component of general and administrative expenses.

Note 7 - Related Party Transactions

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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 this company who became an employee of the Company and subsequently retired in 2021. The MCS lease agreement expires on December 31, 2024. Pursuant to this lease agreement, the Company made rent payments of approximately $0.3 million for each of the years ended December 31, 2022 and 2021.

Note 8 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Retirement Benefits [Text Block]

Employee Benefit Plans

Employee Retirement Savings Plans

The Company sponsors various qualified employee retirement savings plans and makes discretionary contributions to match a certain portion of employee contributions. For the years ended December 31, 2022 and 2021, the Company contributed $1.1 million and $1.0 million, respectively, to these plans.

Employee Pension Plans

The Company’s subsidiary in the United Kingdom, Biochrom Limited maintains contributory, defined benefit pension plans for 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 pension plans be recognized in Company’s 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 Company records net period benefit expense (credit) as a component of other expense in the Consolidated Statement of Operations.

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

	Year Ended December 31,
(in thousands)	2022			2021
Interest cost	$	371		$	358
Expected return on plan assets		(818	)		(675	)
Net amortization loss		27			551
Recognition of net loss due to settlements		-			115
Net periodic benefit (credit) cost	$	(420	)	$	349

The following provides a reconciliation of the changes in the plans’ benefit obligations and fair value of assets for the years ended December 31, 2022 and 2021, and a statement of the funded status as of December 31, 2022 and 2021:

	December 31,
(in thousands)	2022			2021
Change in benefit obligation:
Balance at beginning of year	$	22,562		$	25,519
Interest cost		371			358
Actuarial (gain) loss		(6,912	)		(2,440	)
Settlements due to transfers paid		-			(198	)
Benefits paid		(592	)		(498	)
Currency translation adjustment		(2,166	)		(179	)
Balance at end of year	$	13,263		$	22,562

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

	December 31,
(in thousands)	2022			2021
Change in fair value of plan assets:
Balance at beginning of year	$	27,252		$	23,926
Actual return on plan assets		(9,098	)		3,354
Employer contributions		619			1,042
Settlement due to transfers paid		-			(270	)
Benefits paid		(592	)		(498	)
Currency translation adjustment		(2,605	)		(302	)
Balance at end of year	$	15,576		$	27,252

	December 31,
(in thousands)	2022		2021
Benefit obligation	$	13,263	$	22,562
Fair value of plan assets		15,576		27,252
Net funded status	$	2,313	$	4,690

The amounts recognized in the consolidated balance sheets consist of:

	December 31,
(in thousands)	2022			2021
Other long-term assets	$	2,313		$	4,690
Deferred income tax liabilities		(579	)		(891	)
Recognized in accumulated other comprehensive loss	$	1,734		$	3,799

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

	Year Ended December 31,
	2022			2021
Discount rate		5.0	%		1.8	%
Expected return on assets		5.0	%		2.8	%

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, 2022, 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 cost over the average remaining expected future working lifetime, which is approximately 8 years of active plan participants.

The fair value and asset allocations of the Company’s pension benefits as of December 31, 2022 and 2021 measurement dates were as follows:

	December 31,
(in thousands)	2022				2021
Asset category:
Equity securities	$	3,507	23	%	$	14,295	52	%
Debt securities		11,714	75	%		4,720	17	%
Liability driven investment funds		-	-			5,722	21	%
Cash and cash equivalents		185	1	%		1,907	7	%
Other		170	1	%		608	2	%
Total	$	15,576	100	%	$	27,252	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, 2022 and 2021, is as follows:

	December 31,
(in thousands)	2022		2021
Quoted Prices in Active Markets for Identical Assets (Level 1)	$	185	$	1,907
Significant Other Observable Inputs (Level 2)		15,391		25,345
Significant Other Unobservable Inputs (Level 3)		-		-
Total	$	15,576	$	27,252

Level 1 assets consist of cash and cash equivalents held in the pension plans. 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 approximately $0.6 million to its pension plans during 2023. The benefits expected to be paid from the pension plans are $0.7 million in 2023, $0.7 million in 2024, $0.8 million in 2025, $0.9 million in 2026 and $0.7 million in 2027. The expected benefits to be paid in the five years from 2028 to 2032 are $4.5 million. The expected benefits are based on the same assumptions used to measure the Company’s benefit obligations at December 31, 2022.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Note 9 - Leases

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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 years ended December 31, 2022 and 2021 are as follows:

	Year Ended December 31,
(in thousands)	2022			2021
Operating lease cost	$	1,971		$	2,041
Short-term lease cost		233			196
Sublease income		(102	)		(102	)
Total lease cost	$	2,102		$	2,135

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

	Year Ended December 31,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:	$	2,347	$	2,365
Right-of-use assets obtained in exchange for lease obligations:	$	295	$	524

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

	December 31,
(in thousands)	2022			2021
Operating lease right-of-use assets	$	5,816		$	6,897

Current portion, operating lease liabilities	$	2,135		$	2,142
Operating lease liabilities, long-term		5,282			6,488
Total operating lease liabilities	$	7,417		$	8,630

Weighted average remaining lease term (years)		6.2			6.7
Weighted average discount rate		9.4	%		9.3	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at December 31, 2022, are as follows:

(in thousands)
2023	$	2,135
2024		1,794
2025		1,064
2026		1,022
2027		1,004
Thereafter		2,995
Total lease payments		10,014
Less imputed interest		(2,597	)
Total operating lease liabilities	$	7,417

Note 10 - Capital Stock and Stock-based Compensation

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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

10.

Capital Stock and Stock-Based Compensation

Retirement of Treasury Stock

In May 2021, the Company retired the 7.8 million shares of common stock held by the Company as treasury shares and returned these shares to the status of authorized and unissued shares of common stock.

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, 2022 and 2021, the Company had no preferred stock issued or outstanding.

Employee Stock Purchase Plan (“ESPP”)

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. There were 0.2 million and 0.1 million shares issued under the ESPP during the years ended December 31, 2022 and 2021, respectively. As of December 31, 2022, there were 0.4 million shares available for issuance under the ESPP.

Equity Incentive Plans

During 2021, the Company’s Board of Directors and stockholders adopted the 2021 Incentive Plan which authorizes approximately 2.2 million additional shares available for grants to officers, employees, non-employee directors and other key persons of the Company and its subsidiaries. Approximately 2.1 million shares available under the prior plan were also made available for issuance under the 2021 Incentive Plan. As of December 31, 2022, there were approximately 3.9 million shares available for issuance under the 2021 Incentive Plan.

Performance Restricted Stock Units

The Company grants awards of Performance Market Condition RSUs (the “PRSUs”) to certain members of the Company’s management team. The vesting of the PRSUs is linked to the achievement of a relative total shareholder return of the Company’s common stock measured from the earlier of (i) the measurement period as set out in the award agreement or (ii) upon a change of control (measured relative to the Nasdaq Biotechnology or Russell 2000 index and based on a 20-day trading average price).

For PRSUs granted during the year ended December 31, 2020, the total shareholder return of the Company’s common stock relative to the applicable index resulted in a positive performance factor adjustment and the issuance of 163,216 of additional awards during the year ended December 31, 2021. PRSUs subject to vesting as of December 31, 2022 include 0.4 million awards 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 Plans for the years ended December 31, 2022 and 2021 were 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, 2020		2,637,339		$	3.51		1,560,461		$	2.44		813,031		$	2.12
Granted		-			-		820,831			4.74		293,509			4.61
Exercised		(579,968	)		3.77		-			-		-			-
Vested (RSUs)		-			-		(1,167,473	)		2.88		(403,422	)		2.11
Cancelled/Forfeited		(652,555	)		4.24		(72,655	)		3.67		(6,179	)		2.98
Performance Factor Adjustment		-			-		-			-		163,216			2.98
Balance at December 31, 2021		1,404,816		$	3.10		1,141,164		$	3.57		860,155		$	3.13
Granted		-			-		918,870			4.64		320,272			5.08
Exercised		(40,267	)		2.64		-			-		-			-
Vested (RSUs)		-			-		(733,611	)		4.08		(401,308	)		2.11
Cancelled/Forfeited		(125,773	)		2.77		(232,622	)		4.44		(132,884	)		4.21
Balance at December 31, 2022		1,238,776		$	3.15		1,093,801		$	3.94		646,235		$	4.51

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,
(in thousands)	2022		2021
Weighted average shares outstanding - basic		41,413		40,343
Dilutive effect of equity awards		-		-
Weighted average shares outstanding - diluted		41,413		40,343

Shares excluded from diluted loss per share due to their anti-dilutive effect		3,661		4,274

The following table summarizes outstanding and exercisable options as of December 31, 2022 (Aggregate Intrinsic Value, in thousands):

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

$	1.78 - 2.62		135,342		6.3	$	1.89	$	119		102,381		6.2	$	1.91	$	88
	2.63 - 2.78		505,423		4.4		2.63		71		357,192		4.4		2.63		50
	2.79 - 3.24		135,077		6.6		2.93		-		135,077		6.6		2.93		-
	3.25 - 3.72		206,808		4.2		3.38		-		206,808		4.2		3.38		-
	3.73 - 5.51		256,126		3.2		4.76		-		238,222		3.0		4.83		-
$	1.78 - 5.51		1,238,776		4.6	$	3.15	$	190		1,039,680		4.5	$	3.25	$	138

The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $2.77 as of December 31, 2022, 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 was $0.1 million and $1.3 million for the years ended December 31, 2022 and 2021, respectively.

As of December 31, 2022, the total compensation costs related to unvested awards not yet recognized is $5.1 million and the weighted average period over which it is expected to be recognized is approximately 1.6 years. During the years ended December 31, 2022 and 2021, the Company did not capitalize any stock-based compensation.

Valuation and Expense Information under Stock-Based-Payment Accounting

Stock-based compensation expenses related to stock options, restricted stock units, Market Condition RSU’s and the ESPP for the years ended December 31, 2022 and 2021 was allocated as follows:

	Year Ended December 31,
(in thousands)	2022		2021
Cost of revenues	$	121	$	118
Sales and marketing expenses		557		507
General and administrative expenses		3,487		3,416
Research and development expenses		246		128
Total stock-based compensation expenses	$	4,411	$	4,169

The weighted average estimated fair value per share of the Market Condition RSUs granted during the years ended December 31, 2022 and 2021 was $5.08 and $4.61, respectively, using a Monte-Carlo valuation simulation, with the following weighted-average assumptions:

	2022			2021
Volatility		62.6	%		65.1	%
Risk-free interest rate		2.1	%		0.3	%
Correlation coefficient		41.5	%		35.7	%
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, 2022

Notes to Financial Statements

Long-Term Debt [Text Block]

11.

Long-Term Debt

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

	December 31,			December 31,
(in thousands)	2022			2021
Long-term debt:
Term loan	$	34,814		$	38,000
Revolving line		12,850			11,450
Less: unamortized deferred financing costs		(840	)		(1,120	)
Total debt		46,824			48,330
Less: current installments		(4,091	)		(3,515	)
Current unamortized deferred financing costs		280			280
Long-term debt	$	43,013		$	45,095

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

(in thousands)
2023	$	4,091
2024		4,000
2025		39,573
	$	47,664

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 $2.9 million as of December 31, 2022 based on the Credit Agreement, as amended pursuant to the April 2022 Amendment and November 2022 Amendment as 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 on the Company’s borrowings for the years ended December 31, 2022 and 2021, was 5.0% and 3.3%, respectively, and the weighted average interest rate as of December 31, 2022 was 7.6%. 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 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, 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. As of December 31, 2022, the current portion of long-term debt includes an excess cash flow sweep of $1.1 million to be paid by March 31, 2023. 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, 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.

The April 28, 2022 Amendment, among other things modified the financial covenant relating to the consolidated net leverage ratio, and consented to the Biostage Settlement, including without limitation the receipt by the Company of convertible preferred stock in Biostage, and the securities issuable upon conversion thereof, as partial payment for Biostage’s indemnification obligations in connection with the Biostage Settlement. (See Note 15). In consideration for the April 28, 2022 Amendment, the Company paid fees of $0.2 million to the Lenders and Administrative Agent.

The November 8, 2022 Amendment, among other things, modified the financial covenant relating to the consolidated net leverage ratio, and 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 Amendment, the Company paid fees of $0.2 million to the Lenders and Administrative Agent.

The Company was in compliance with the covenants of the Credit Agreement, as amended, as of December 31, 2022.

The Company monitors interest rate risk attributable to both its outstanding and forecasted debt obligations by the use of cash flow sensitivity analysis which estimates the expected impact of changes in interest rates on the Company’s future cash flows.

Note 12 - Revenues

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

12.

Revenues

The following table represents a disaggregation of revenue from contracts with customers for the years ended December 31, 2022 and 2021:

	Year Ended December 31,
(in thousands)	2022		2021
Instruments, equipment, software and accessories	$	108,165	$	114,115
Service, maintenance and warranty contracts		5,170		4,789
Total revenues	$	113,335	$	118,904

Deferred revenue

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

	December 31,
(in thousands)	2022		2021
Service contracts	$	1,530	$	1,976
Customer advances		1,840		2,290
Total deferred revenue	$	3,370	$	4,266

During the years ended December 31, 2022 and 2021, the Company recognized revenue of $2.5 million and $2.0 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 customer accounts. A rollforward of allowance for doubtful accounts is as follows:

	December 31,
(in thousands)	2022			2021
Balance, beginning of period	$	136		$	227
Bad debt expense (credit)		62			(4	)
Charge-offs and other		(7	)		(87	)
Balance, end of period	$	191		$	136

Concentrations

No customer accounted for more than 10% of the revenues for the years ended December 31, 2022, and 2021, or for more than 10% of net accounts receivable at December 31, 2022 and 2021.

Warranties

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

	December 31,
(in thousands)	2022			2021
Balance, beginning of period	$	240		$	186
Expense		408			319
(Charges)/Credits		(380	)		(265	)
Balance, end of period	$	268		$	240

- 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 13 - Income Tax

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Income Tax Disclosure [Text Block]

13.

Income Tax

Income tax expense for years ended December 31, 2022 and 2021 consisted of:

	Year Ended December 31,
(in thousands)	2022			2021
Current income tax expense:
Federal and state	$	641		$	363
Foreign		194			156
		835			519
Deferred income tax (benefit) expense:
Federal and state		(468	)		22
Foreign		(30	)		(393	)
		(498	)		(371	)
Total income tax expense	$	337		$	148

The effective tax rate for the year ended December 31, 2022 was (3.7)% as compared with (105.7)% for the same period in 2021. 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, the impact of different tax rates in certain foreign jurisdictions, and the impact of changes in uncertain tax positions, Global Intangible Low-Taxed Income (GILTI), and valuation allowances.

Income tax expense for the years ended December 31, 2022 and 2021 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)	2022			2021
Provision for income taxes at federal statutory rates	$	(1,927	)	$	(29	)
Increase (decrease) in income taxes resulting from:
Permanent differences, net		375			(362	)
Non-deductible executive compensation		346			412
Global Intangible Low-Taxed Income (GILTI)		552			-
Foreign tax rate differential		(103	)		(217	)
State income taxes, net of federal income tax benefit		(295	)		(16	)
Non-deductible stock compensation expense		69			280
Tax credits		492			455
Net operating loss true-ups and expirations		431			195
Change in reserve for uncertain tax position		688			(118	)
Impact of change to prior year tax accruals		(232	)		269
Change in valuation allowance allocated to income tax		(102	)		(961	)
Other		43			240
Total income tax expense	$	337		$	148

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

	Year Ended December 31,
(in thousands)	2022			2021
Domestic	$	(9,099	)	$	2,364
Foreign		(80	)		(2,504	)
Total	$	(9,179	)	$	(140	)

The tax effects of temporary differences that give rise to significant components of the deferred tax assets and deferred tax liabilities at December 31, 2022 and 2021 are as follows:

	Year Ended December 31,
(in thousands)	2022			2021
Deferred income tax assets:
Inventory	$	1,696		$	1,280
Operating loss and credit carryforwards		14,883			18,046
Accrued expenses		621			835
Deferred interest expense		881			1,191
Stock compensation		675			580
Lease liability		1,538			1,693
Research and development		2,000			-
Other assets		726			386
Total gross deferred assets		23,020			24,011
Less: valuation allowance		(14,506	)		(14,700	)
Deferred tax assets	$	8,514		$	9,311

Deferred income tax liabilities:
Indefinite-lived intangible assets	$	1,914		$	1,882
Definite-lived intangible assets		4,875			6,277
Right-of-use asset		1,148			1,277
Other liabilities		834			1,228
Total deferred tax liabilities		8,771			10,664
Deferred income tax liability, net	$	(257	)	$	(1,353	)

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

	Year Ended December 31,
(in thousands)	2022			2021
Deferred tax assets (included in other long-term assets)	$	333		$	205
Deferred income tax liabilities		(590	)		(1,558	)
Deferred income tax liability, net	$	(257	)	$	(1,353	)

As of December 31, 2022 and 2021, the Company maintained a total valuation allowance of $14.5 million and $14.7 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, 2022 and December 31, 2021 was a decrease of $0.2 million and a decrease of $2.0 million, respectively. The decrease in the valuation allowance in 2022 is primarily due to the utilization and expiration of certain U.S. net operating losses and the expiration of certain U.S. credits. The movement in the valuation allowance in 2021 is primarily due to a change in estimate of the realizability of UK deferred tax assets and the utilization and expiration of certain U.S. net operating losses and the expiration of certain U.S. credits. A valuation allowance decrease of $0.9 million was recorded to equity during the year ended December 31, 2021 related to the UK pension liability.

At December 31, 2022, the Company had U.S. federal net operating loss carryforwards of $13.4 million, of which $13.3 million expire between 2029 and 2038. The remaining $0.1 million of U.S. federal net operating loss carryforwards can be carried forward indefinitely. The Company’s state net operating loss carryforwards of $9.6 million expire between 2023 and 2042. The Company has net operating loss carryforwards of $8.0 million in certain foreign jurisdictions which may be carried forward indefinitely, partially offset by valuation allowances. The Company has $8.1 million of research and development tax credit carryforwards and foreign tax credits of $0.1 million which begin to expire in 2023. Approximately $0.8 million of the research and development tax credit carryforwards are offset by a reserve for uncertain tax positions. The Company had a total of $2.7 million of state investment tax credit carryforwards, research and development tax credit carryforwards, and enterprise zone credit carryforwards, which begin to expire in 2023. In addition, the Company had a total of $0.2 million international R&D credits which begin to expire in 2036. 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, 2022 and December 31, 2021, cash and cash equivalents held by the Company’s foreign subsidiaries was $2.6 million and $2.8 million, respectively. As of December 31, 2022, 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, 2022 and 2021 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, 2020	$	1,673
Decreases based on tax positions of prior years		(208	)
Additions based on tax positions of current years		176
Decreases based on expiration of statutes of limitation		(42	)
Settlements and other		(267	)
Balance at December 31, 2021		1,332
Additions based on tax positions of prior years		534
Decreases based on tax positions of prior years		(34	)
Additions based on tax positions of current years		237
Decreases based on expiration of statutes of limitation		(86	)
Balance at December 31, 2022	$	1,983

The Company does not anticipate that any portion of the total unrecognized tax benefits will be reduced within the next 12 months. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $2.0 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, 2022 and 2021, 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 2018. 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 2003 as a result of tax losses incurred in prior years. There are currently no pending federal or state tax examinations.

On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was signed into law. Among other changes, the IRA imposes a 15% corporate alternative minimum tax on certain corporations and a 1% excise tax on public company stock buybacks for tax years beginning after December 31, 2022. The Company does not expect the provisions of this new law to have a material impact on its consolidated financial statements and related disclosures.

- 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.

+ References

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+ Details

Note 14 - Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

14.

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 15 – 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 flow. Although unfavorable outcomes in the proceedings are possible, the Company has not accrued 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.

In addition, the Company has entered into indemnification agreements with its directors. It is not possible to determine the maximum potential liability amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. The company has not recorded any liability for costs related to contingent indemnification obligations as of December 31, 2022.

Note 15 - Litigation Settlement

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Legal Matters and Contingencies [Text Block]

15.

Litigation Settlement

On April 14, 2017, representatives for the estate of an individual plaintiff filed a wrongful death complaint with the Court 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 “Biostage 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 Biostage 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 three months ended March 31, 2022, the Company accrued $5.2 million of costs related to legal fees and the Biostage 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 and September 30, 2022, the Company recorded adjustments of $4.9 million and $0.5 million, respectively, 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 the legal fees associated with the Settlement, and iii) other accrual adjustments. The Series E Preferred Stock was initially recorded at an estimated fair value of $3.9 million using a Monte Carlo valuation simulation incorporating information from selected guideline companies.

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 which includes the requirement to raise additional capital in order to continue as a going concern and the limited trading volume and liquidity of Biostage’s common stock, the value of the Series E Preferred Stock could fluctuate considerably or become worthless.

The book value of the Series E Preferred Stock, inclusive of accrued dividends, is $4.1 million and is included in the December 31, 2022 Consolidated Balance Sheet as a component of Other Long-Term Assets. 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 December 31, 2022, there have been no observable price changes or indicators of impairment and therefore there have been no measurement adjustments to the carrying value of the Series E Preferred Stock.

Note 16 - Segment and Related Information

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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.

Revenues by geographic destination are as follows:

	Year Ended December 31,
(in thousands)	2022		2021
United States	$	49,912	$	49,831
Europe		30,687		35,767
Greater China		16,393		13,496
Rest of the world		16,343		19,810
Total revenues	$	113,335	$	118,904

Long-lived assets by geographic area include operating lease right-of-use assets, property, plant and equipment, and amortizable intangible assets, are as follows:

	December 31,
(in thousands)	2022		2021
United States	$	26,051	$	31,512
Germany		2,432		3,501
Rest of the world		1,489		2,446
Total long-lived assets	$	29,972	$	37,459

Net assets by geographic area are as follows:

	December 31,
(in thousands)	2022		2021
United States	$	34,408	$	38,641
Germany		14,761		15,501
United Kingdom		10,116		13,999
Rest of the world		12,935		15,260
Total net assets	$	72,220	$	83,401

- Definition

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

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+ Details

Note 17 - Government Assistance

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Government Assistance [Text Block]

17.

Government Assistance

For the year ended December 31, 2022, the Company received $0.7 million under government assistance programs. The majority of the assistance was a result of the Company’s German subsidiaries participating in programs established to offset the negative impact of COVID-19 on profitability, to support employment during the COVID-19 pandemic, and to offset the costs of qualifying research and development activities. Government assistance that is related to profitability is recorded as other income, and government assistance that supplements salaries or research activities are recorded as a reduction of the related operating expense.

Note 18 - Subsequent Event - Derivatives

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Subsequent Events [Text Block]

18.

Subsequent Event - Derivatives

On February 28, 2023, the Company entered into an interest rate swap contract to improve the predictability of cash flows from interest payments related to our variable, SOFR based debt. The swap contract has initial notional amount of $33.4 million and matures on December 22, 2025. This swap contract converts the SOFR-based variable portion of the interest payable under the Credit Agreement into fixed-rate debt at an annual rate of 4.75%. The swap contract does not impact the additional interest related to the applicable interest rate margin as discussed above in Note 11 Long-Term Debt. The interest rate swap is considered an effective cash flow hedge, and as a result, the net gains or losses on such instrument are reported as a component of other comprehensive income (loss) in the consolidated financial statements and are reclassified as net income when the underlying hedged interest impacts earnings. A qualitative and quantitative assessment over the hedge effectiveness is performed on a quarterly basis unless facts and circumstances indicate that the hedge may no longer be highly effective.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

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.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles 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 as well as the defined benefit pension obligations. Estimates are also required to evaluate the value and recoverability of existing long-lived and intangible assets, including goodwill and the convertible preferred stock of Biostage held by the Company. On an ongoing basis, the Company reviews its estimates based upon currently available information. Actual results could differ materially from those estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

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. Cash and cash equivalents totaled $4.5 million at December 31, 2022, of which approximately 56% was held by the Company’s foreign subsidiaries and subject to repatriation tax considerations. These foreign funds were held primarily by subsidiaries in the United Kingdom, Germany, and Spain. The Company has cash holdings in financial institutions that exceed insured limits for such financial institutions. The Company mitigate this risk by utilizing international financial institutions of high credit quality.

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

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.

Inventory, Policy [Policy Text Block]

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.

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

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

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]

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 Company has lease agreements with lease and non-lease components, which are generally accounted for separately.

Income Tax, Policy [Policy Text Block]

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.

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

Foreign Currency Transactions and Translations Policy [Policy Text Block]

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.

Earnings Per Share, Policy [Policy Text Block]

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.

Comprehensive Income (Loss) [Policy Text Block]

Comprehensive Income (Loss)

The Company reports all changes in equity during a period, resulting from net income (loss) and transactions from non-owner sources, in a financial statement in the period in which they are recognized. The Company discloses comprehensive income (loss), which encompasses net income (loss), 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 income (loss).

Revenue from Contract with Customer [Policy Text Block]

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 and contract research organizations. The Company also has global and regional distribution partners, and original equipment manufacturer 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.

Service revenue consists 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 revenue 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 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 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 12 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]

Definite-lived Intangible Assets

Definite-lived Intangible assets are comprised of existing technology, customer contracts and contractual relationships, and other definite-lived intangible assets. Identifiable intangible assets resulting from the acquisitions of entities accounted for using the purchase method of accounting are estimated by the Company based on the fair value of assets received. Identifiable definite-lived intangible assets are being amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from four to fifteen years.

The Company amortizes definite-lived intangible assets over their estimated useful lives and evaluates definite-lived assets for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. The carrying value is not recoverable if it exceeds the undiscounted cash flows resulting from the use of the asset and its eventual disposition. The Company’s estimate of future cash flows attributable to intangible assets requires significant judgment based on historical and anticipated results and are subject to many factors. Factors which could trigger an impairment review include significant negative industry or economic trends, significant loss of clients, and significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business.

When the Company determines that the carrying value of the assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, the Company measures the potential impairment based on a projected discounted cash flow method using a discount rate determined by management to be commensurate with the risk inherent in its current business model. An impairment loss is recognized only if the carrying amount of the asset is not recoverable and exceeds its fair value. Different assumptions and judgments could materially affect the calculation of the fair value of our assets.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired.

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 typically estimates fair value using the income approach but will also consider market approaches when appropriate. Under the income approach, the Company uses a 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, expected income tax rates, 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.

The Company evaluated its goodwill for impairment as of October 1, 2022 using a quantitative analysis under which a discounted cash flow analysis was prepared to determine whether the fair value of the reporting unit is less than its carrying value. Based on these analyses, we have determined that as of October 1, 2022, the fair value of our reporting unit exceeded the carrying value.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

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, 2022, the Company concluded that none of its long-lived assets were impaired.

Derivatives, Policy [Policy Text Block]

Derivatives

The Company monitors interest rate risk attributable to both its outstanding and forecasted debt obligations and may use 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.

Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]

Valuation of Investment in Preferred Stock

On June 10, 2022, Biostage, Inc., issued 4,000 shares of its Series E Convertible Preferred Stock (the “Series E Preferred Stock”) to the Company in satisfaction of $4.0 million of Biostage’s indemnification obligation to the Company in connection with the settlement of litigation involving Biostage, Inc. and other third parties. (See Note 15 – Litigation Settlement)

The Company recorded the Series E Preferred Stock at an initial estimated fair value of $3.9 million using an income approach which considered a discount rate and an estimated time until conversion into Biostage Inc. common stock. The Company has elected the provisions within ASC 321 Investment Securities to subsequently measure its investment at cost minus impairment, if any, plus or minus observable price changes. As of December 31, 2022, there have been no measurement adjustments to the carrying value of the Series E Preferred Stock.

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

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 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.

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 (Level 2).

Share-Based Payment Arrangement [Policy Text Block]

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 issued under the Company’s 2021 Incentive Plan (the “2021 Incentive Plan”) and the Fourth Amended and Restated 2000 Stock Option and Incentive Plan (the “2000 Incentive Plan” and together with 2021 Incentive Plan, the “Incentive Plans”) 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 from its registered but unissued stock pool to satisfy stock option exercises and vesting of the restricted stock units.

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.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Accounting Pronouncements 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. The Company has adopted ASU 2021-10 effective January 1, 2022 and has elected to adopt the disclosure provisions of this ASU prospectively to all transactions that are reflected in the financial statements at the date of initial application and new transactions that are entered into after that date. The disclosures required by ASU 2021-10 is provided in Note 17.

Accounting Pronouncements to be Adopted

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 is effective for the Company for fiscal years beginning after December 15, 2022. The Company has determined that the adoption of ASU 2017-04 will not have a significant impact 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 is effective for the Company for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company has determined that the adoption of ASU 2016-13 will not have a significant impact on its consolidated financial statements.

Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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, 2022

Notes Tables

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

	Foreign currency
	translation			Defined benefit
(in thousands)	adjustments			pension plans			Total
Balance at December 31, 2020	$	(11,473	)	$	(1,593	)	$	(13,066	)
Other comprehensive income (loss) before reclassifications		(2,353	)		4,946			2,593
Amounts reclassified from AOCI		-			446			446
Net other comprehensive (loss) income		(2,353	)		5,392			3,039
Balance at December 31, 2021		(13,826	)		3,799			(10,027	)
Other comprehensive income (loss) before reclassifications		(2,960	)		(2,085	)		(5,046	)
Amounts reclassified from AOCI		-			20			20
Net other comprehensive (loss) income		(2,960	)		(2,065	)		(5,025	)
Balance at December 31, 2022	$	(16,786	)	$	1,734		$	(15,052	)

Note 4 - Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Goodwill [Table Text Block]

	December 31,
	2022			2021
(in thousands)
Carrying amount at beginning of period	$	57,689		$	58,590
Effect of change in currency translation		(1,429	)		(901	)
Carrying amount at end of period	$	56,260		$	57,689

Schedule of Intangible Assets and Goodwill [Table Text Block]

			December 31, 2022							December 31, 2021
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		7.2	$	16,124	$	(8,727	)	$	7,397	$	17,689	$	(8,675	)	$	9,014
Existing technology		3.2		37,549		(26,482	)		11,067		38,707		(23,962	)		14,745
Trade names and patents		3.7		7,523		(5,197	)		2,326		8,496		(5,108	)		3,388
Total amortizable intangible assets			$	61,196	$	(40,406	)	$	20,790	$	64,892	$	(37,745	)	$	27,147
Indefinite-lived intangible assets:									224							238
Total intangible assets								$	21,014						$	27,385

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

(in thousands)
2023	$	5,546
2024		5,248
2025		4,020
2026		2,359
2027		1,262
Thereafter		2,355
Total	$	20,790

- Definition

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

+ References

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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

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
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-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
-SubTopic 20
-Section 50
-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
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

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

+ Details

Note 5 - Balance Sheet Information (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Inventory, Current [Table Text Block]

*Inventories:*	December 31,
(in thousands)	2022		2021
Finished goods	$	5,223	$	5,646
Work in process		3,776		3,410
Raw materials		17,440		18,531
Total	$	26,439	$	27,587

Property, Plant and Equipment [Table Text Block]

*Property, Plant and Equipment:*	December 31,
(in thousands)	2022			2021
Machinery and equipment	$	7,500		$	7,698
Computer equipment and software		6,781			6,269
Leasehold improvements		2,507			2,560
Furniture and fixtures		1,386			1,296
Automobiles		38			41
		18,212			17,864
Less: accumulated depreciation		(14,846	)		(14,449	)
Property, plant and equipment, net	$	3,366		$	3,415

Other Current Liabilities [Table Text Block]

*Other Current Liabilities:*	December 31,
(in thousands)	2022		2021
Compensation	$	3,476	$	6,048
Professional fees		392		480
Warranty costs		268		240
Customer advances		2,368		2,265
Accrued income taxes		-		224
Other		982		1,505
Total	$	7,486	$	10,762

Note 6 - Restructuring and Other Exit Costs (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Restructuring and Related Costs [Table Text Block]

	Cost of
(in thousands)	Revenues			Severance			Other			Total
Balance at December 31, 2020	$	-		$	270		$	18		$	288
Restructuring and other exit costs		-			1,174			101			1,275
Non-cash charges		-			-			(46	)		(46	)
Cash payments		-			(1,444	)		(73	)		(1,517	)
Balance at December 31, 2021	$	-		$	-		$	-		$	-
Restructuring and other exit costs		1,471			877			46			2,394
Non-cash charges		(1,471	)		-			-			(1,471	)
Cash payments		-			(241	)		(46	)		(287	)
Balance at December 31, 2022	$	-		$	636		$	-		$	636

Note 8 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Costs of Retirement Plans [Table Text Block]

	Year Ended December 31,
(in thousands)	2022			2021
Interest cost	$	371		$	358
Expected return on plan assets		(818	)		(675	)
Net amortization loss		27			551
Recognition of net loss due to settlements		-			115
Net periodic benefit (credit) cost	$	(420	)	$	349

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

	December 31,
(in thousands)	2022			2021
Change in benefit obligation:
Balance at beginning of year	$	22,562		$	25,519
Interest cost		371			358
Actuarial (gain) loss		(6,912	)		(2,440	)
Settlements due to transfers paid		-			(198	)
Benefits paid		(592	)		(498	)
Currency translation adjustment		(2,166	)		(179	)
Balance at end of year	$	13,263		$	22,562

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

	December 31,
(in thousands)	2022			2021
Change in fair value of plan assets:
Balance at beginning of year	$	27,252		$	23,926
Actual return on plan assets		(9,098	)		3,354
Employer contributions		619			1,042
Settlement due to transfers paid		-			(270	)
Benefits paid		(592	)		(498	)
Currency translation adjustment		(2,605	)		(302	)
Balance at end of year	$	15,576		$	27,252

Schedule of Net Funded Status [Table Text Block]

	December 31,
(in thousands)	2022		2021
Benefit obligation	$	13,263	$	22,562
Fair value of plan assets		15,576		27,252
Net funded status	$	2,313	$	4,690

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

	December 31,
(in thousands)	2022			2021
Other long-term assets	$	2,313		$	4,690
Deferred income tax liabilities		(579	)		(891	)
Recognized in accumulated other comprehensive loss	$	1,734		$	3,799

Defined Benefit Plan, Assumptions [Table Text Block]

	Year Ended December 31,
	2022			2021
Discount rate		5.0	%		1.8	%
Expected return on assets		5.0	%		2.8	%

Schedule of Allocation of Plan Assets [Table Text Block]

	December 31,
(in thousands)	2022				2021
Asset category:
Equity securities	$	3,507	23	%	$	14,295	52	%
Debt securities		11,714	75	%		4,720	17	%
Liability driven investment funds		-	-			5,722	21	%
Cash and cash equivalents		185	1	%		1,907	7	%
Other		170	1	%		608	2	%
Total	$	15,576	100	%	$	27,252	100	%

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

	December 31,
(in thousands)	2022		2021
Quoted Prices in Active Markets for Identical Assets (Level 1)	$	185	$	1,907
Significant Other Observable Inputs (Level 2)		15,391		25,345
Significant Other Unobservable Inputs (Level 3)		-		-
Total	$	15,576	$	27,252

Note 9 - Leases (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Lease, Cost [Table Text Block]

	Year Ended December 31,
(in thousands)	2022			2021
Operating lease cost	$	1,971		$	2,041
Short-term lease cost		233			196
Sublease income		(102	)		(102	)
Total lease cost	$	2,102		$	2,135

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

	Year Ended December 31,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:	$	2,347	$	2,365
Right-of-use assets obtained in exchange for lease obligations:	$	295	$	524

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

	December 31,
(in thousands)	2022			2021
Operating lease right-of-use assets	$	5,816		$	6,897

Current portion, operating lease liabilities	$	2,135		$	2,142
Operating lease liabilities, long-term		5,282			6,488
Total operating lease liabilities	$	7,417		$	8,630

Weighted average remaining lease term (years)		6.2			6.7
Weighted average discount rate		9.4	%		9.3	%

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

(in thousands)
2023	$	2,135
2024		1,794
2025		1,064
2026		1,022
2027		1,004
Thereafter		2,995
Total lease payments		10,014
Less imputed interest		(2,597	)
Total operating lease liabilities	$	7,417

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

12 Months Ended

Dec. 31, 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, 2020		2,637,339		$	3.51		1,560,461		$	2.44		813,031		$	2.12
Granted		-			-		820,831			4.74		293,509			4.61
Exercised		(579,968	)		3.77		-			-		-			-
Vested (RSUs)		-			-		(1,167,473	)		2.88		(403,422	)		2.11
Cancelled/Forfeited		(652,555	)		4.24		(72,655	)		3.67		(6,179	)		2.98
Performance Factor Adjustment		-			-		-			-		163,216			2.98
Balance at December 31, 2021		1,404,816		$	3.10		1,141,164		$	3.57		860,155		$	3.13
Granted		-			-		918,870			4.64		320,272			5.08
Exercised		(40,267	)		2.64		-			-		-			-
Vested (RSUs)		-			-		(733,611	)		4.08		(401,308	)		2.11
Cancelled/Forfeited		(125,773	)		2.77		(232,622	)		4.44		(132,884	)		4.21
Balance at December 31, 2022		1,238,776		$	3.15		1,093,801		$	3.94		646,235		$	4.51

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

	Year Ended December 31,
(in thousands)	2022		2021
Weighted average shares outstanding - basic		41,413		40,343
Dilutive effect of equity awards		-		-
Weighted average shares outstanding - diluted		41,413		40,343

Shares excluded from diluted loss per share due to their anti-dilutive effect		3,661		4,274

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

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

$	1.78 - 2.62		135,342		6.3	$	1.89	$	119		102,381		6.2	$	1.91	$	88
	2.63 - 2.78		505,423		4.4		2.63		71		357,192		4.4		2.63		50
	2.79 - 3.24		135,077		6.6		2.93		-		135,077		6.6		2.93		-
	3.25 - 3.72		206,808		4.2		3.38		-		206,808		4.2		3.38		-
	3.73 - 5.51		256,126		3.2		4.76		-		238,222		3.0		4.83		-
$	1.78 - 5.51		1,238,776		4.6	$	3.15	$	190		1,039,680		4.5	$	3.25	$	138

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

	Year Ended December 31,
(in thousands)	2022		2021
Cost of revenues	$	121	$	118
Sales and marketing expenses		557		507
General and administrative expenses		3,487		3,416
Research and development expenses		246		128
Total stock-based compensation expenses	$	4,411	$	4,169

Black Scholes Option Pricing Model [Member]

Notes Tables

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

	2022			2021
Volatility		62.6	%		65.1	%
Risk-free interest rate		2.1	%		0.3	%
Correlation coefficient		41.5	%		35.7	%
Dividend yield		-	%		-	%

Note 11 - Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Debt [Table Text Block]

	December 31,			December 31,
(in thousands)	2022			2021
Long-term debt:
Term loan	$	34,814		$	38,000
Revolving line		12,850			11,450
Less: unamortized deferred financing costs		(840	)		(1,120	)
Total debt		46,824			48,330
Less: current installments		(4,091	)		(3,515	)
Current unamortized deferred financing costs		280			280
Long-term debt	$	43,013		$	45,095

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

(in thousands)
2023	$	4,091
2024		4,000
2025		39,573
	$	47,664

Note 12 - Revenues (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31,
(in thousands)	2022		2021
Instruments, equipment, software and accessories	$	108,165	$	114,115
Service, maintenance and warranty contracts		5,170		4,789
Total revenues	$	113,335	$	118,904

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

	December 31,
(in thousands)	2022		2021
Service contracts	$	1,530	$	1,976
Customer advances		1,840		2,290
Total deferred revenue	$	3,370	$	4,266

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

	December 31,
(in thousands)	2022			2021
Balance, beginning of period	$	136		$	227
Bad debt expense (credit)		62			(4	)
Charge-offs and other		(7	)		(87	)
Balance, end of period	$	191		$	136

Schedule of Product Warranty Liability [Table Text Block]

	December 31,
(in thousands)	2022			2021
Balance, beginning of period	$	240		$	186
Expense		408			319
(Charges)/Credits		(380	)		(265	)
Balance, end of period	$	268		$	240

Note 13 - Income Tax (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	Year Ended December 31,
(in thousands)	2022			2021
Current income tax expense:
Federal and state	$	641		$	363
Foreign		194			156
		835			519
Deferred income tax (benefit) expense:
Federal and state		(468	)		22
Foreign		(30	)		(393	)
		(498	)		(371	)
Total income tax expense	$	337		$	148

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

	Year Ended December 31,
(in thousands)	2022			2021
Provision for income taxes at federal statutory rates	$	(1,927	)	$	(29	)
Increase (decrease) in income taxes resulting from:
Permanent differences, net		375			(362	)
Non-deductible executive compensation		346			412
Global Intangible Low-Taxed Income (GILTI)		552			-
Foreign tax rate differential		(103	)		(217	)
State income taxes, net of federal income tax benefit		(295	)		(16	)
Non-deductible stock compensation expense		69			280
Tax credits		492			455
Net operating loss true-ups and expirations		431			195
Change in reserve for uncertain tax position		688			(118	)
Impact of change to prior year tax accruals		(232	)		269
Change in valuation allowance allocated to income tax		(102	)		(961	)
Other		43			240
Total income tax expense	$	337		$	148

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

	Year Ended December 31,
(in thousands)	2022			2021
Domestic	$	(9,099	)	$	2,364
Foreign		(80	)		(2,504	)
Total	$	(9,179	)	$	(140	)

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

	Year Ended December 31,
(in thousands)	2022			2021
Deferred income tax assets:
Inventory	$	1,696		$	1,280
Operating loss and credit carryforwards		14,883			18,046
Accrued expenses		621			835
Deferred interest expense		881			1,191
Stock compensation		675			580
Lease liability		1,538			1,693
Research and development		2,000			-
Other assets		726			386
Total gross deferred assets		23,020			24,011
Less: valuation allowance		(14,506	)		(14,700	)
Deferred tax assets	$	8,514		$	9,311

Deferred income tax liabilities:
Indefinite-lived intangible assets	$	1,914		$	1,882
Definite-lived intangible assets		4,875			6,277
Right-of-use asset		1,148			1,277
Other liabilities		834			1,228
Total deferred tax liabilities		8,771			10,664
Deferred income tax liability, net	$	(257	)	$	(1,353	)

	Year Ended December 31,
(in thousands)	2022			2021
Deferred tax assets (included in other long-term assets)	$	333		$	205
Deferred income tax liabilities		(590	)		(1,558	)
Deferred income tax liability, net	$	(257	)	$	(1,353	)

Summary of Income Tax Contingencies [Table Text Block]

	(in thousands)
Balance at December 31, 2020	$	1,673
Decreases based on tax positions of prior years		(208	)
Additions based on tax positions of current years		176
Decreases based on expiration of statutes of limitation		(42	)
Settlements and other		(267	)
Balance at December 31, 2021		1,332
Additions based on tax positions of prior years		534
Decreases based on tax positions of prior years		(34	)
Additions based on tax positions of current years		237
Decreases based on expiration of statutes of limitation		(86	)
Balance at December 31, 2022	$	1,983

Note 16 - Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	Year Ended December 31,
(in thousands)	2022		2021
United States	$	49,912	$	49,831
Europe		30,687		35,767
Greater China		16,393		13,496
Rest of the world		16,343		19,810
Total revenues	$	113,335	$	118,904

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

	December 31,
(in thousands)	2022		2021
United States	$	26,051	$	31,512
Germany		2,432		3,501
Rest of the world		1,489		2,446
Total long-lived assets	$	29,972	$	37,459

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

	December 31,
(in thousands)	2022		2021
United States	$	34,408	$	38,641
Germany		14,761		15,501
United Kingdom		10,116		13,999
Rest of the world		12,935		15,260
Total net assets	$	72,220	$	83,401

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands		12 Months Ended
	Jun. 10, 2022 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Cash and Cash Equivalents, at Carrying Value, Total		$ 4,508	$ 7,821
Percentage of Cash and Cash Equivalents Held by Foreign Subsidiaries		56.00%
Number of Reporting Units		1
Goodwill, Impairment Loss		$ 0
Impairment of Long-Lived Assets Held-for-use		0
Series E Preferred Stock in Biostage [Member]
Stock Issued During Period, Value, Issued for Settlement		$ 3,900
Case in Suffolk Superior Court [Member] \| Contingent Convertible Preferred Stock [Member]
Stock Issued During Period, Shares, Issued For Settlement (in shares) \| shares	4,000
Stock Issued During Period, Value, Issued for Settlement	$ 4,000
Minimum [Member]
Customer Payments Term (Day)		0 days
Finite-Lived Intangible Asset, Useful Life (Year)		4 years
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
Finite-Lived Intangible Asset, Useful Life (Year)		15 years
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, 2022
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, 2022	Dec. 31, 2021
Balance	$ 83,401	$ 76,681
Other comprehensive (loss) income	(5,025)	3,039
Balance	72,220	83,401
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(13,826)	(11,473)
Other comprehensive income (loss) before reclassifications	(2,960)	(2,353)
Amounts reclassified from AOCI	0	0
Other comprehensive (loss) income	(2,960)	(2,353)
Balance	(16,786)	(13,826)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	3,799	(1,593)
Other comprehensive income (loss) before reclassifications	(2,085)	4,946
Amounts reclassified from AOCI	20	446
Other comprehensive (loss) income	(2,065)	5,392
Balance	1,734	3,799
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(10,027)	(13,066)
Other comprehensive income (loss) before reclassifications	(5,046)	2,593
Amounts reclassified from AOCI	20	446
Other comprehensive (loss) income	(5,025)	3,039
Balance	$ (15,052)	$ (10,027)

- Definition

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

+ References

+ Details

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Note 4 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fully Amortized Intangible Assets Related to Customer Relationships and Discontinued Product Lines	$ 2,500
Amortization of Intangible Assets	$ 6,122	$ 5,840

Note 4 - Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Carrying amount	$ 57,689	$ 58,590
Effect of change in currency translation	(1,429)	(901)
Carrying amount	$ 56,260	$ 57,689

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Finite-Lived Intangible Assets, Gross

$ 61,196

$ 64,892

Total amortizable intangible assets

(40,406)

(37,745)

Finite-Lived Intangible Assets, Net

20,790

27,147

Indefinite-lived intangible assets:

224

238

Total intangible assets, Net

$ 21,014

27,385

Distribution Agreements/Customer Relationships [Member]

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

^[1]

7 years 2 months 12 days

Finite-Lived Intangible Assets, Gross

$ 16,124

17,689

Total amortizable intangible assets

(8,727)

(8,675)

Finite-Lived Intangible Assets, Net

$ 7,397

9,014

Existing Technology [Member]

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

^[1]

3 years 2 months 12 days

Finite-Lived Intangible Assets, Gross

$ 37,549

38,707

Total amortizable intangible assets

(26,482)

(23,962)

Finite-Lived Intangible Assets, Net

$ 11,067

14,745

Trade Names and Patents [Member]

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

^[1]

3 years 8 months 12 days

Finite-Lived Intangible Assets, Gross

$ 7,523

8,496

Total amortizable intangible assets

(5,197)

(5,108)

Finite-Lived Intangible Assets, Net

$ 2,326

$ 3,388

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

Note 4 - Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
2023	$ 5,546
2024	5,248
2025	4,020
2026	2,359
2027	1,262
Thereafter	2,355
Total	$ 20,790	$ 27,147

Note 5 - Balance Sheet Information (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Fully Depreciated and Disposed of Property and Equipment Removed From Fixed Asset Records	$ 0.7

Note 5 - Balance Sheet Information - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finished goods	$ 5,223	$ 5,646
Work in process	3,776	3,410
Raw materials	17,440	18,531
Total	$ 26,439	$ 27,587

Note 5 - Balance Sheet Information - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment, Gross	$ 18,212	$ 17,864
Less: accumulated depreciation	(14,846)	(14,449)
Property, plant and equipment, net	3,366	3,415
Machinery and Equipment [Member]
Property, Plant and Equipment, Gross	7,500	7,698
Computer Equipment and Software [member]
Property, Plant and Equipment, Gross	6,781	6,269
Leasehold Improvements [Member]
Property, Plant and Equipment, Gross	2,507	2,560
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	1,386	1,296
Automobiles [Member]
Property, Plant and Equipment, Gross	$ 38	$ 41

Note 5 - Balance Sheet Information - Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Compensation	$ 3,476	$ 6,048
Professional fees	392	480
Warranty costs	268	240
Customer advances	2,368	2,265
Accrued income taxes	0	224
Other	982	1,505
Total	$ 7,486	$ 10,762

Note 6 - Restructuring and Other Exit Costs (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restructuring Charges, Total	$ 2,394	$ 1,275
Cost of Sales [Member]
Restructuring Charges, Total	1,500
General and Administrative Expense [Member]
Restructuring Charges, Total	$ 900

Note 6 - Restructuring and Other Exit Costs - Restructuring and Other Exit Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 0	$ 288
Restructuring and other exit costs	2,394	1,275
Non-cash charges	(1,471)	(46)
Cash payments	(287)	(1,517)
Balance	636	0
Cost of Revenues [Member]
Balance	0	0
Restructuring and other exit costs	1,471	0
Non-cash charges	(1,471)	0
Cash payments	0	0
Balance	0	0
Employee Severance [Member]
Balance	0	270
Restructuring and other exit costs	877	1,174
Non-cash charges	0	0
Cash payments	(241)	(1,444)
Balance	636	0
Other Restructuring [Member]
Balance	0	18
Restructuring and other exit costs	46	101
Non-cash charges	0	(46)
Cash payments	(46)	(73)
Balance	$ 0	$ 0

Note 7 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
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, 2022	Dec. 31, 2021
Defined Contribution Plan, Cost	$ 1.1	$ 1.0
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	0.6
Defined Benefit Plan, Expected Future Benefit Payment, Year One	0.7
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	0.7
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	0.8
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	0.9
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	0.7
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years	$ 4.5

Note 8 - Employee Benefit Plans - Defined Benefit Pension Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Interest cost	$ 371	$ 358
Expected return on plan assets	(818)	(675)
Net amortization loss	27	551
Recognition of net loss due to settlements	0	115
Net periodic benefit (credit) cost	$ (420)	$ 349

Note 8 - Employee Benefit Plans - Change in Benefit Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Benefit Obligation, Balance	$ 22,562	$ 25,519
Interest cost	371	358
Actuarial (gain) loss	(6,912)	(2,440)
Settlements due to transfers paid	0	(198)
Benefits paid	(592)	(498)
Currency translation adjustment	(2,166)	(179)
Defined Benefit Plan, Benefit Obligation, Balance	$ 13,263	$ 22,562

Note 8 - Employee Benefit Plans - Change in Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Fair Value of Plan Assets, Balance	$ 27,252	$ 23,926
Actual return on plan assets	(9,098)	3,354
Employer contributions	619	1,042
Settlement due to transfers paid	0	(270)
Benefits paid	(592)	(498)
Currency translation adjustment	(2,605)	(302)
Defined Benefit Plan, Fair Value of Plan Assets, Balance	$ 15,576	$ 27,252

- Definition

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

+ References + Details

- Definition

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.

+ References + Details

Note 8 - Employee Benefit Plans - Change in Benefit Obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Benefit obligation	$ 13,263	$ 22,562	$ 25,519
Fair value of plan assets	15,576	27,252	$ 23,926
Net funded status	1,734	3,799
Pension Plan [Member]
Benefit obligation	13,263	22,562
Fair value of plan assets	15,576	27,252
Net funded status	$ 2,313	$ 4,690

- Definition

+ References + Details

Note 8 - Employee Benefit Plans - Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other long-term assets	$ 1,734	$ 3,799
Other Noncurrent Liabilities [Member]
Other long-term assets	2,313	4,690
Deferred Tax Liability [Member]
Other long-term assets	$ (579)	$ (891)

Note 8 - Employee Benefit Plans - Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Discount rate	5.00%	1.80%
Expected return on assets	5.00%	2.80%

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

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Fair value of plan assets

$ 15,576

$ 27,252

$ 23,926

Defined Benefit Plan, Actual Plan Asset Allocations

100.00%

Defined Benefit Plan, Equity Securities [Member]

Fair value of plan assets

$ 3,507

$ 14,295

Defined Benefit Plan, Actual Plan Asset Allocations

23.00%

52.00%

Debt Security, Corporate, US [Member]

Fair value of plan assets

^[1]

$ 11,714

$ 4,720

Defined Benefit Plan, Actual Plan Asset Allocations

75.00%

17.00%

Liability Driven Investment Funds [Member]

Fair value of plan assets

$ 0

$ 5,722

Defined Benefit Plan, Actual Plan Asset Allocations

0.00%

21.00%

Defined Benefit Plan, Cash and Cash Equivalents [Member]

Fair value of plan assets

$ 185

$ 1,907

Defined Benefit Plan, Actual Plan Asset Allocations

1.00%

7.00%

Other Plan Assets [Member]

Fair value of plan assets

$ 170

$ 608

Defined Benefit Plan, Actual Plan Asset Allocations

1.00%

2.00%

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

- Definition

+ References + Details

Note 8 - Employee Benefit Plans - Fair Value of Plan Assets By Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair value of plan assets	$ 15,576	$ 27,252	$ 23,926
Fair Value, Inputs, Level 1 [Member]
Fair value of plan assets	185	1,907
Fair Value, Inputs, Level 2 [Member]
Fair value of plan assets	15,391	25,345
Fair Value, Inputs, Level 3 [Member]
Fair value of plan assets	$ 0	$ 0

- Definition

+ References + Details

Note 9 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating lease cost	$ 1,971	$ 2,041
Short-term lease cost	233	196
Sublease income	(102)	(102)
Total lease cost	$ 2,102	$ 2,135

Note 9- Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:	$ 2,347	$ 2,365
Right-of-use assets obtained in exchange for lease obligations:	$ 295	$ 524

Note 9 - Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating lease right-of-use assets	$ 5,816	$ 6,897
Current portion, operating lease liabilities	2,135	2,142
Operating lease liabilities, long-term	5,282	6,488
Total operating lease liabilities	$ 7,417	$ 8,630
Weighted average remaining lease term (years) (Year)	6 years 2 months 12 days	6 years 8 months 12 days
Weighted average discount rate	9.40%	9.30%

Note 9 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
2023	$ 2,135
2024	1,794
2025	1,064
2026	1,022
2027	1,004
Thereafter	2,995
Total lease payments	10,014
Less imputed interest	(2,597)
Total operating lease liabilities	$ 7,417	$ 8,630

Note 10 - Capital Stock and Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Treasury Stock, Shares, Retired (in shares)	7,800,000
Preferred Stock, Shares Authorized (in shares)		5,000,000	5,000,000
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%
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)		200,000	100,000
Share Price (in dollars per share)		$ 2.77
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 0.1	$ 1.3
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 5.1
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 7 months 6 days
Market Condition Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Factor Adjustment (in shares)		163,216	163,216
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)		401,308	403,422
Minimum Vesting Rate of the Targeted Shareholder Return, Percentage		0.00%
Maximum Vesting Rate of the Targeted Shareholder Return, Percentage		150.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 5.08	$ 4.61
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
Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)		400,000
2021 Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)		3,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)		2,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		2,100,000

Note 10 - Capital Stock and Stock-based Compensation - Stock Option and Restricted Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Opening Balance, Stock Options Outstanding (in shares)	1,404,816	2,637,339
Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.10	$ 3.51
Options, Granted in Period (in shares)	0	0
Options, Granted in Period, Weighted Average Exercise Price (in dollars per share)	$ 0	$ 0
Options, exercised (in shares)	(40,267)	(579,968)
Options, exercised, weighted average exercise price (in dollars per share)	$ 2.64	$ 3.77
Options, Cancelled / Forfeited in Period (in shares)	(125,773)	(652,555)
Options, Cancelled / Forfeited, Weighted Average Exercise Price (in dollars per share)	$ 2.77	$ 4.24
Opening Balance, Stock Options Outstanding (in shares)	1,238,776	1,404,816
Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.15	$ 3.10
Restricted Stock Units (RSUs) [Member]
Restricted Stock Units Outstanding , Balance (in shares)	1,141,164	1,560,461
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 3.57	$ 2.44
Restricted Stock Units, Granted in Period (in shares)	918,870	820,831
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share)	$ 4.64	$ 4.74
Restricted Stock Units, Vested in Period (in shares)	(733,611)	(1,167,473)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share)	$ 4.08	$ 2.88
Restricted Stock Units, Cancelled / Forfeited in Period (in shares)	(232,622)	(72,655)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share)	$ 4.44	$ 3.67
Performance Factor Adjustment (in shares)		0
Performance Factor Adjustment, grant date fair value (in dollars per share)		$ 0
Restricted Stock Units Outstanding , Balance (in shares)	1,093,801	1,141,164
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 3.94	$ 3.57
Market Condition Restricted Stock Units [Member]
Restricted Stock Units Outstanding , Balance (in shares)	860,155	813,031
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 3.13	$ 2.12
Restricted Stock Units, Granted in Period (in shares)	320,272	293,509
Restricted Stock Units Granted , Grant Date Fair Value, Balance (in dollars per share)	$ 5.08	$ 4.61
Restricted Stock Units, Vested in Period (in shares)	(401,308)	(403,422)
Restricted Stock Units, Vested , Grant Date Fair Value, Balance (in dollars per share)	$ 2.11	$ 2.11
Restricted Stock Units, Cancelled / Forfeited in Period (in shares)	(132,884)	(6,179)
Restricted Stock Units, Cancelled/ Forfeited , Grant Date Fair Value, Balance (in dollars per share)	$ 4.21	$ 2.98
Performance Factor Adjustment (in shares)	163,216	163,216
Performance Factor Adjustment, grant date fair value (in dollars per share)		$ 2.98
Restricted Stock Units Outstanding , Balance (in shares)	646,235	860,155
Restricted Stock Units Outstanding , Grant Date Fair Value, Balance (in dollars per share)	$ 4.51	$ 3.13

Note 10 - Capital Stock and Stock-based Compensation - Earnings (Loss) Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Weighted average shares outstanding - basic (in shares)	41,413	40,343
Dilutive effect of equity awards (in shares)	0	0
Weighted average shares outstanding - diluted (in shares)	41,413	40,343
Shares excluded from diluted loss per share due to their anti-dilutive effect (in shares)	3,661	4,274

Note 10 - Capital Stock and Stock-based Compensation - Outstanding and Exercisable Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 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)	$ 5.51
Options Outstanding, Shares Outstanding (in shares) \| shares	1,238,776
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	4 years 7 months 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.15
Options Outstanding, Aggregate Intrinsic Value \| $	$ 190
Options Exercisable, Shares Exercisable (in shares) \| shares	1,039,680
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 6 months
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.25
Options Exercisable, Aggregate Intrinsic Value \| $	$ 138
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	135,342
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 3 months 18 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 1.89
Options Outstanding, Aggregate Intrinsic Value \| $	$ 119
Options Exercisable, Shares Exercisable (in shares) \| shares	102,381
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	6 years 2 months 12 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 1.91
Options Exercisable, Aggregate Intrinsic Value \| $	$ 88
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)	$ 2.78
Options Outstanding, Shares Outstanding (in shares) \| shares	505,423
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	4 years 4 months 24 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.63
Options Outstanding, Aggregate Intrinsic Value \| $	$ 71
Options Exercisable, Shares Exercisable (in shares) \| shares	357,192
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 4 months 24 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.63
Options Exercisable, Aggregate Intrinsic Value \| $	$ 50
Exercise Price Range 3 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 2.79
Range of Exercise Price, Upper Limit (in dollars per share)	$ 3.24
Options Outstanding, Shares Outstanding (in shares) \| shares	135,077
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 7 months 6 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 2.93
Options Outstanding, Aggregate Intrinsic Value \| $	$ 0
Options Exercisable, Shares Exercisable (in shares) \| shares	135,077
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	6 years 7 months 6 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 2.93
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0
Exercise Price Range 4 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 3.25
Range of Exercise Price, Upper Limit (in dollars per share)	$ 3.72
Options Outstanding, Shares Outstanding (in shares) \| shares	206,808
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	4 years 2 months 12 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.38
Options Outstanding, Aggregate Intrinsic Value \| $	$ 0
Options Exercisable, Shares Exercisable (in shares) \| shares	206,808
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	4 years 2 months 12 days
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.38
Options Exercisable, Aggregate Intrinsic Value \| $	$ 0
Exercise Price Range 5 [Member]
Range of Exercise Price, Lower Limit (in dollars per share)	$ 3.73
Range of Exercise Price, Upper Limit (in dollars per share)	$ 5.51
Options Outstanding, Shares Outstanding (in shares) \| shares	256,126
Options Outstanding, Weighted Average Remaining Contractual Life (Year)	3 years 2 months 12 days
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 4.76
Options Outstanding, Aggregate Intrinsic Value \| $	$ 0
Options Exercisable, Shares Exercisable (in shares) \| shares	238,222
Options Exercisable. Weighted Average Remaining Contractual Life (Year)	3 years
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 4.83
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, 2022	Dec. 31, 2021
Share-based compensation	$ 4,411	$ 4,169
Continuing Operations [Member] \| Cost of Sales [Member]
Share-based compensation	121	118
Continuing Operations [Member] \| Selling and Marketing Expense [Member]
Share-based compensation	557	507
Continuing Operations [Member] \| General and Administrative Expense [Member]
Share-based compensation	3,487	3,416
Continuing Operations [Member] \| Research and Development Expense [Member]
Share-based compensation	$ 246	$ 128

Note 10 - Capital Stock and Stock-based Compensation - Black Scholes Assumptions (Details) - Black Scholes Option Pricing Model [Member] - Share-Based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Volatility	62.60%	65.10%
Risk-free interest rate	2.10%	0.30%
Correlation coefficient	41.50%	35.70%
Dividend yield	0.00%	0.00%

Note 11 - Long-term Debt (Details Textual) - USD ($) $ in Thousands			12 Months Ended
	Nov. 08, 2022	Apr. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 22, 2020
Long-term Debt, Gross			$ 47,664
Debt Issuance Costs, Net, Total			$ 840	$ 1,120
The Credit Agreement [Member]
Debt Issuance Costs, Net, Total						$ 1,400
Line of Credit Facility, Interest Rate During Period			5.00%	3.30%
Line of Credit Facility, Interest Rate at Period End			7.60%
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%
Debt Instrument, Current Maturities, Excess Cash Flow Sweep			$ 1,100
Payments of Debt Restructuring Costs		$ 200
Payments for Debt Fees	$ 200
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			$ 2,900
Term Loan [Member]
Long-term Debt, Gross			$ 34,814	$ 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 11 - Long-term Debt - Breakdown of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Long-term debt, gross	$ 47,664
Less: unamortized deferred financing costs	(840)	$ (1,120)
Total debt	46,824	48,330
Less: current installments	(4,091)	(3,515)
Current unamortized deferred financing costs	280	280
Long-term debt	43,013	45,095
Term Loan [Member]
Long-term debt, gross	34,814	38,000
Line of Credit [Member]
Long-term debt, gross	$ 12,850	$ 11,450

- Definition

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

+ References + Details

Note 11 - Long Term Debt - Debt Maturity (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 4,091
2024	4,000
2025	39,573
Total	$ 47,664

Note 12 - Revenues (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contract with Customer, Liability, Revenue Recognized	$ 2.5	$ 2.0

Note 12 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 113,335	$ 118,904
Instruments, Equipment, Software, and Accessories [Member]
Revenues	108,165	114,115
Service, Maintenance, and Warranty Contracts [Member]
Revenues	$ 5,170	$ 4,789

- 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
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-SubTopic 10
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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-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 12 - Revenues - Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred revenue	$ 3,370	$ 4,266
Service [Member]
Deferred revenue	1,530	1,976
Customer Advances [Member]
Deferred revenue	$ 1,840	$ 2,290

Note 12 - Revenues - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance, beginning of period	$ 136	$ 227
Bad debt expense (credit)	62	(4)
Charge-offs and other	(7)	(87)
Balance, end of period	$ 191	$ 136

Note 12 - Revenues - Warranties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 240	$ 186
Expense	408	319
(Charges)/Credits	(380)	(265)
Balance	$ 268	$ 240

Note 13 - Income Tax (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent, Total	(3.70%)	(105.70%)
Deferred Tax Assets, Valuation Allowance	$ 14,506	$ 14,700
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(200)	(2,000)
Research and Development Tax Credit Carryforwards Offset by Reserve for Uncertain Tax Positions	800
Deferred Tax Assets, Tax Credit Carryforwards, Total	2,700
Cash and Cash Equivalents, at Carrying Value, Total	4,508	7,821
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	2,000
Non-US [Member] \| Subsidiaries [Member]
Cash and Cash Equivalents, at Carrying Value, Total	2,600	2,800
Expire 2023 [Member]
Deferred Tax Assets, Tax Credit Carryforwards, Research	8,100
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	100
Expire 2036 [Member] \| Research Tax Credit Carryforward [Member]
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount	$ 200
Domestic Tax Authority [Member]
Open Tax Year	2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	$ 13,400
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Expire between 2029 and 2038 [Member]
Operating Loss Carryforwards	13,300
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Indefinite Carryforward Beyond 2038 [Member]
Operating Loss Carryforwards	100
State and Local Jurisdiction [Member] \| Expire between 2023 and 2042 [Member]
Operating Loss Carryforwards	9,600
Foreign Tax Authority [Member]
Operating Loss Carryforwards	$ 8,000
Open Tax Year	2018 2019 2020 2021 2022
UK Pension Liability [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ (900)

Note 13 - Income Tax - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Federal and state	$ 641	$ 363
Foreign	194	156
current income tax (benefit) expense	835	519
Federal and state	(468)	22
Foreign	(30)	(393)
deferred income tax (benefit) expense	(498)	(371)
Total income tax expense	$ 337	$ 148

- Definition

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

+ References + Details

Note 13 - Income Tax - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Provision for income taxes at federal statutory rates	$ (1,927)	$ (29)
Permanent differences, net, amount	375	(362)
Non-deductible executive compensation	346	412
Global Intangible Low-Taxed Income (GILTI)	552	0
Foreign tax rate differential	(103)	(217)
State income taxes, net of federal income tax benefit, amount	(295)	(16)
Non-deductible stock compensation expense, amount	69	280
Tax credits	492	455
Net operating loss true-ups and expirations	431	195
Change in reserve for uncertain tax position	688	(118)
Impact of change to prior year tax accruals	(232)	269
Change in valuation allowance allocated to income tax	(102)	(961)
Other	43	240
Total income tax expense (benefit)	$ 337	$ 148

Note 13 - Income Tax - Pre-tax Income From Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Domestic	$ (9,099)	$ 2,364
Foreign	(80)	(2,504)
Total	$ (9,179)	$ (140)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Topic 280
-SubTopic 10
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-Name Accounting Standards Codification
-Topic 220
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-Section S99
-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
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-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Note 13 - Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory	$ 1,696	$ 1,280
Operating loss and credit carryforwards	14,883	18,046
Accrued expenses	621	835
Deferred interest expense	881	1,191
Stock compensation	675	580
Lease liability	1,538	1,693
Research and development	2,000	0
Other assets	726	386
Total gross deferred assets	23,020	24,011
Less: valuation allowance	(14,506)	(14,700)
Deferred tax assets	8,514	9,311
Indefinite-lived intangible assets	1,914	1,882
Definite-lived intangible assets	4,875	6,277
Right-of-use asset	1,148	1,277
Other liabilities	834	1,228
Total deferred tax liabilities	8,771	10,664
Deferred income tax liability, net	(257)	(1,353)
Deferred tax assets (included in other long-term assets)	333	205
Deferred income tax liabilities	$ (590)	$ (1,558)

Note 13 - Income Tax - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 1,332	$ 1,673
Decreases based on tax positions of prior years	(34)	(208)
Additions based on tax positions of current years	237	176
Decreases based on expiration of statutes of limitation	(86)	(42)
Settlements and other		(267)
Additions based on tax positions of prior years	534
Balance	$ 1,983	$ 1,332

Note 14 - Commitments and Contingent Liabilities (Details Textual) $ in Thousands	Dec. 31, 2022 USD ($)
Director [Member] \| Indemnification Agreements [Member]
Liability for Contingent Indemnification Obligations	$ 0

Note 15 - Litigation Settlement (Details Textual) - USD ($)		3 Months Ended	12 Months Ended
	Jun. 10, 2022	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022	Mar. 31, 2022
Litigation Settlement, Expense			$ (233,000)	$ 0
Series E Preferred Stock in Biostage [Member]
Stock Issued During Period, Value, Issued for Settlement			3,900,000
Equity Securities without Readily Determinable Fair Value, Amount	$ 3,900,000
Preferred Stock, Book Value, Inclusive of Accrued Dividends			$ 4,100,000
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
Preferred Stock, Mandatory Conversion, Minimum Qualified Offering Amount			$ 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]
Estimated Litigation Liability					$ 500,000
Stock Issued During Period, Shares, Issued For Settlement (in shares)	4,000
Stock Issued During Period, Value, Issued for Settlement	$ 4,000,000.0

Note 16 - Segment and Related Information (Details Textual)	12 Months Ended
	Dec. 31, 2022
Number of Operating Segments	1

Note 16 - Segment and Related Information - Revenue by Geographic Destination (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total revenues	$ 113,335	$ 118,904
UNITED STATES
Total revenues	49,912	49,831
Europe [Member]
Total revenues	30,687	35,767
Greater China [Member]
Total revenues	16,393	13,496
Rest of the World [Member]
Total revenues	$ 16,343	$ 19,810

- Definition

+ References

+ Details

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

Dec. 31, 2022

Dec. 31, 2021

Total long-lived assets

^[1]

$ 29,972

$ 37,459

UNITED STATES | Continuing Operations [Member]

Total long-lived assets

26,051

31,512

GERMANY | Continuing Operations [Member]

Total long-lived assets

2,432

3,501

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

Total long-lived assets

$ 1,489

$ 2,446

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

Note 16 - Segment and Related Information - Net Assets by Geographic Area (Details) - Continuing Operations [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Total net assets	$ 72,220	$ 83,401
UNITED STATES
Total net assets	34,408	38,641
GERMANY
Total net assets	14,761	15,501
UNITED KINGDOM
Total net assets	10,116	13,999
Rest of the World [Member]
Total net assets	$ 12,935	$ 15,260

Note 17 - Government Assistance (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Programs Established to Offset the Impact of COVID [Member]
Government Assistance, Amount	$ 0.7

Note 18 - Subsequent Event - Derivatives (Details Textual) - Subsequent Event [Member] $ in Millions	Feb. 28, 2023 USD ($)
The Credit Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Interest Rate Swap [Member]
Derivative, Notional Amount	$ 33.4