Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING ACTIVITIES    
Net income $ 6,627 $ 2,345
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 200 (167)
Depreciation 12,374 11,508
Loss on disposal of and reserve adjustments for medical equipment 519 942
Gain on sale of medical equipment (3,308) (2,268)
Amortization of intangible assets 920 991
Amortization of deferred debt issuance costs 81 78
Stock-based compensation 4,363 4,460
Deferred income taxes 2,726 1,918
Changes in assets - (increase)/decrease:    
Accounts receivable 263 (701)
Inventories 1,140 (126)
Other current assets (903) 202
Other assets 114 1,953
Changes in liabilities - (decrease)/increase:    
Accounts payable and other liabilities (708) (676)
NET CASH PROVIDED BY OPERATING ACTIVITIES 24,408 20,459
INVESTING ACTIVITIES    
Acquisition of business (1,412) 0
Purchase of medical equipment (8,126) (16,741)
Purchase of property and equipment (560) (1,092)
Proceeds from sale of medical equipment, property and equipment 3,308 4,594
NET CASH USED IN INVESTING ACTIVITIES (6,790) (13,239)
FINANCING ACTIVITIES    
Principal payments on long-term debt (52,349) (56,113)
Cash proceeds from long-term debt 48,226 50,798
Debt issuance costs (197) 0
Common stock repurchased as part of share repurchase program (9,869) (1,180)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (1,105) (816)
Cash proceeds from exercise of options and ESPP 335 387
NET CASH USED IN FINANCING ACTIVITIES (14,959) (6,924)
Net change in cash and cash equivalents 2,659 296
Cash and cash equivalents, beginning of period 527 231
Cash and cash equivalents, end of period 3,186 527
SUPPLEMENTAL DISCLOSURES    
Cash paid for interest 1,243 1,749
Cash paid for income taxes 543 753
NON-CASH TRANSACTIONS    
Additions to medical equipment and property [1] $ 3,094 $ 1,383
[1] Amounts consist of current liabilities for medical equipment and property that have not been included in investing activities. These amounts have not been paid for as of December 31, 2025 and 2024, respectively, but will be included as a cash outflow from investing activities for purchases of medical equipment and property when paid.