DIGIRAD CORP
CIK:0000707388|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Operating activities | ||
| Net income (loss) | $ 2,275 | $ (6,011) |
| Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: | ||
| Depreciation of property and equipment | 1,237 | 451 |
| Amortization of intangible assets | 1,509 | 1,032 |
| Non-cash lease expense | 123 | 203 |
| Provision for bad debt, net | (24) | (48) |
| Stock-based compensation | 114 | 128 |
| Non-cash interest income | (397) | 0 |
| Realized gain on sale of investments | (5,072) | 0 |
| Impairment of Cost Method Investment | 432 | 1,290 |
| Deferred income taxes | (1,918) | (37) |
| Unrealized (gain) loss on equity securities and lumber derivatives | 160 | 94 |
| Gross profit from sale of lost-in-hole equipment | (385) | 0 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (971) | 604 |
| Inventories | (2,107) | 467 |
| Other assets | 374 | (1,416) |
| Accounts payable | 1,081 | 295 |
| Accrued compensation | 544 | (707) |
| Deferred revenue and billings in excess of costs and estimated profit | 450 | (518) |
| Operating lease liabilities | (119) | (215) |
| Other liabilities | 1,550 | 123 |
| Net cash provided (used) by operating activities | (1,144) | (4,265) |
| Investing activities | ||
| Purchases of property and equipment | (1,098) | (263) |
| Proceeds from sale of lost-in-hole equipment | 199 | 0 |
| Proceeds from sale of property and equipment | 100 | 0 |
| Purchases of equity securities | (258) | (257) |
| Proceeds from sales of equity securities | 543 | 527 |
| Net cash received from (paid for) acquisition | (4,185) | (19,100) |
| Note receivable repayments | 149 | 149 |
| Net cash provided (used) by investing activities | (4,550) | (18,944) |
| Financing activities | ||
| Proceeds from borrowings | 15,744 | 21,259 |
| Repayment of debt | (11,050) | (11,951) |
| Repayment of obligations under finance leases | (10) | (28) |
| Preferred stock dividends paid | (1,152) | (958) |
| Net cash provided (used) by financing activities | 3,532 | 8,322 |
| Net change in cash, cash equivalents, and restricted cash | (2,162) | (14,887) |
| Cash, cash equivalents, and restricted cash at beginning of period | 5,631 | 18,946 |
| Cash, cash equivalents, and restricted cash at end of period | 3,469 | 4,059 |
| Reconciliation of cash, cash equivalents, and restricted cash at end of period | ||
| Cash and cash equivalents | 1,861 | 2,457 |
| Restricted cash | 1,608 | 1,602 |
| Cash, cash equivalents, and restricted cash at end of period | 3,469 | 4,059 |
| Supplemental Information | ||
| Cash paid during the period for interest | 394 | 146 |
| Cash paid during the period for income taxes | 0 | 92 |
| Non-Cash Investing and Financing Activities | ||
| Noncash property, plant, and equipment obtained in exchange for term loan | 0 | 3,000 |
| Receivable from broker related to sale of equity securities | 6,684 | 0 |
| Issuance of Preferred Stock | $ 7,045 | $ 0 |
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Jun. 30, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Current assets: | ||||
| Cash and cash equivalents | $ 1,861 | $ 4,003 | ||
| Restricted cash | 1,608 | 1,628 | ||
| Investments in equity securities | 1,763 | 3,368 | ||
| Lumber derivative contracts | 13 | 0 | ||
| Receivable from brokers | 6,684 | 0 | ||
| Accounts receivable, net of allowances of $369 and $360, respectively | 11,698 | 8,048 | ||
| Note receivable, current portion | 300 | 335 | ||
| Inventories, net | 9,207 | 5,397 | ||
| Other current assets | 2,051 | 1,635 | ||
| Total current assets | 35,185 | 24,414 | ||
| Property and equipment, net | 16,653 | 10,207 | ||
| Operating lease right-of-use assets, net | 8,184 | 8,289 | ||
| Intangible assets, net | 20,399 | 18,930 | ||
| Goodwill | 9,922 | 8,453 | ||
| Long term Investments | 1,217 | 2,140 | ||
| Notes receivable, net of current portion | 9,124 | 8,876 | ||
| Other assets | 1,730 | 1,739 | ||
| Total assets | 102,414 | 83,048 | ||
| Current liabilities: | ||||
| Accounts payable | 4,230 | 2,603 | ||
| Accrued liabilities | 6,718 | 1,974 | ||
| Accrued compensation | 1,686 | 1,141 | ||
| Accrued warranty | 50 | 49 | ||
| Lumber derivative contracts | 0 | 7 | ||
| Deferred revenue | 3,007 | 2,523 | ||
| Short-term debt | 7,345 | 3,911 | ||
| Operating lease liabilities, current portion | 227 | 241 | ||
| Finance lease liabilities, current portion | 21 | 21 | ||
| Total current liabilities | 23,284 | 12,470 | ||
| Long-term debt | 6,988 | 7,405 | ||
| Deferred tax liabilities | 1,129 | 334 | ||
| Operating lease liabilities, net of current portion | 8,392 | 8,483 | ||
| Finance lease liabilities, net of current portion | 8 | 20 | ||
| Total liabilities | 39,801 | 28,712 | ||
| Commitments and contingencies (Note 9) | ||||
| Stockholder’s Equity: | ||||
| Common stock, $0.0001 par value; 50,000,000 shares authorized; 3,225,545 and 3,201,502 shares issued and outstanding (net of treasury shares) at June 30, 2025 and December 31, 2024, respectively | [1] | 2 | 2 | |
| Treasury stock, at cost; 125,625 and 125,625 shares at June 30, 2025 and December 31, 2024, respectively | [1] | (6,007) | (6,007) | |
| Additional paid-in capital | 158,837 | 159,880 | ||
| Accumulated deficit | (116,252) | (118,527) | ||
| Total stockholders’ equity | 62,613 | 54,336 | ||
| Total liabilities and stockholders’ equity | 102,414 | 83,048 | ||
| Series A Preferred Stock | ||||
| Stockholder’s Equity: | ||||
| Preferred stock, $0.0001 par value | 26,033 | 18,988 | ||
| Series C Preferred Stock | ||||
| Stockholder’s Equity: | ||||
| Preferred stock, $0.0001 par value | $ 0 | $ 0 | ||
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