v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOW FROM OPERATING ACTIVITIES:      
Net income (loss) $ (18,481) $ (3,901) $ 10,571
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 2,101 2,371 2,679
Gain from sale of investment 0 0 (715)
Bad debt expense 1,287 808 544
Deferred income taxes 830 352 (57)
Stock-based compensation 58 858 911
Changes in assets and liabilities:      
Accounts receivable (5,755) (961) (15,682)
Prepaid expenses and other current assets 1,801 (705) 2,929
Deposits with customers (1,100) 988 2,126
Other assets (142) (25) 0
Accounts payable (307) 332 (2,256)
Accrued expenses and other current liabilities (5,349) 277 8,287
VAT payable (794) (1,050) 2,802
Income and other taxes payable (2,408) (1,836) 386
Operating lease accounts, net 278 17 (93)
Other liabilities (3,006) (6,997) (8,043)
Net cash provided by (used in) operating activities (30,987) (9,472) 4,389
CASH FLOWS FROM INVESTING ACTIVITIES:      
Increase of term deposits (30,763) 0 0
Purchase of property and equipment (1,811) (1,948) (1,551)
Capitalization of software costs (132) (49) (86)
Proceeds from sale of investments 0 0 785
Purchase of investments (80) (20) 0
Deposits (withdraws) regarding employees’ severance (135) (95) 229
Net cash used in investing activities (32,921) (2,112) (623)
CASH FLOW FROM FINANCING ACTIVITIES:      
Loans received 9,302 8,869 2,853
Loans repaid (10,054) (7,793) (2,853)
Withdraws under factoring agreements 22,673 18,244 2,284
Repayments under factoring agreements (17,902) (16,231) (2,201)
Withdraws under line of credit 31 0 0
Dividend paid to AU10TIX shareholders 0 (3,248) 0
Repayments of convertible notes payable to a related party 0 0 110
Net cash provided by (used in) financing activities 4,050 (159) 193
EFFECT OF CHANGES IN FOREIGN CURRENCY EXCHANGE RATES ON CASH, CASH EQUIVALENTS, RESTRICTED CASH AND BANK DEPOSITS 2,428 (1,880) 1,106
DECREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND BANK DEPOSITS (57,430) (13,623) 5,065
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND BANK DEPOSITS BEGINNING OF YEAR 87,404 101,027 95,962
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND BANK DEPOSITS END OF YEAR 29,974 87,404 101,027
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Additional Payment For Shares Issued In Previous Years 0 0 1,214
Commitment to purchase shares from certain directors and officers 0 0 (1,518)
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES      
Interest $ 1,250 $ 1,088 $ 1,063