ADDvantage Technologies (AEYGQ) 10-Q14 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 09, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-10799
Entity Registrant Name	ADDvantage Technologies Group, Inc.
Entity Incorporation, State or Country Code	OK
Entity Tax Identification Number	73-1351610
Entity Address, Address Line One	1430 Bradley Lane, Suite 196
Entity Address, City or Town	Carrollton
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75007
City Area Code	(918)
Local Phone Number	251-9121
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,947,078
Entity Central Index Key	0000874292
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,632	$ 2,552
Restricted cash	722	1,101
Accounts receivable, net of allowances of $304 and $262, respectively	1,491	1,682
Unbilled revenue	1,232	5,005
Income tax receivable	102	102
Inventories, net of allowances of $4,118 and $3,871, respectively	7,788	9,563
Prepaid expenses and other current assets	1,313	1,399
Total current assets	14,280	21,404
Property and equipment, at cost:
Machinery and equipment	5,568	5,542
Leasehold improvements	899	899
Total property and equipment, at cost	6,467	6,441
Less: Accumulated depreciation	(3,761)	(3,057)
Net property and equipment	2,706	3,384
Right-of-use lease assets	814	1,540
Intangibles, net of accumulated amortization	470	709
Goodwill	58	58
Other assets	207	123
Total assets	18,535	27,218
Current liabilities:
Accounts payable	6,777	9,407
Accrued expenses	1,531	1,445
Deferred revenue	332	148
Notes payable	2,220	0
Right-of-use lease obligations, current	757	1,204
Finance lease obligations, current	627	636
Other current liabilities	565	442
Total current liabilities	12,809	13,282
Right-of-use lease obligations, long-term	149	635
Finance lease obligations, long-term	790	1,254
Total liabilities	13,748	15,171
Shareholders’ equity:
Common stock, $0.01 par value; 30,000,000 shares authorized; 14,850,858 and 14,132,033 shares issued and outstanding, respectively	149	141
Paid in capital	3,625	2,585
Retained earnings	1,013	9,321
Total shareholders’ equity	4,787	12,047
Total liabilities and shareholders’ equity	$ 18,535	$ 27,218

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 304	$ 262
Inventory valuation reserves	$ 4,118	$ 3,871
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	14,850,858	14,132,033
Common stock, shares outstanding (in shares)	14,850,858	14,132,033

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Sales	$ 10,341	$ 25,926	$ 37,148	$ 77,474
Cost of sales	7,502	17,383	27,620	55,026
Gross profit	2,839	8,543	9,528	22,448
Operating expenses	1,689	2,303	5,703	7,600
Selling, general and administrative expenses	3,071	4,464	9,965	12,459
Depreciation and amortization expense	308	295	942	925
Gain on disposal of assets	0	311	0	309
Income (loss) from operations	(2,229)	1,792	(7,082)	1,773
Other expense:
Other expense	(158)	(273)	(491)	(675)
Interest expense	(338)	(36)	(717)	(134)
Other expense, net	(496)	(309)	(1,208)	(809)
Income (loss) before income taxes	(2,725)	1,483	(8,290)	964
Income tax provision	2	0	18	0
Net income (loss)	$ (2,727)	$ 1,483	$ (8,308)	$ 964
Income (loss) per share:
Basic (in dollars per share)	$ (0.19)	$ 0.11	$ (0.60)	$ 0.07
Diluted (in dollars per share)	$ (0.19)	$ 0.11	$ (0.60)	$ 0.07
Shares used in per share calculation:
Basic (in shares)	14,256,869	13,638,162	13,882,628	13,302,410
Diluted (in shares)	14,256,869	13,638,162	13,882,628	13,302,410
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]	Product [Member]

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings
Beginning Balance (in shares) at Dec. 31, 2021		13,041,127
Beginning Balance at Dec. 31, 2021	$ 9,315	$ 130	$ 335	$ 8,850
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,394)			(1,394)
Restricted stock issuance, net of forfeitures (in shares)		4,000
Common stock and warrants issuance (in shares)		143,985
Common stock and warrants issuance	168	$ 2	166
Amortization of stock-based compensation	247		247
Ending Balance (in shares) at Mar. 31, 2022		13,189,112
Ending Balance at Mar. 31, 2022	8,336	$ 132	748	7,456
Beginning Balance (in shares) at Dec. 31, 2021		13,041,127
Beginning Balance at Dec. 31, 2021	9,315	$ 130	335	8,850
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	964
Ending Balance (in shares) at Sep. 30, 2022		14,043,642
Ending Balance at Sep. 30, 2022	12,470	$ 140	2,516	9,814
Beginning Balance (in shares) at Mar. 31, 2022		13,189,112
Beginning Balance at Mar. 31, 2022	8,336	$ 132	748	7,456
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	875			875
Restricted stock issuance, net of forfeitures (in shares)		(51,666)
Restricted stock issuance, net of forfeitures	0	$ (1)	1
Common stock and warrants issuance (in shares)		30,745
Common stock and warrants issuance	38		38
Amortization of stock-based compensation	103		103
Ending Balance (in shares) at Jun. 30, 2022		13,168,191
Ending Balance at Jun. 30, 2022	9,353	$ 132	890	8,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,483			1,483
Restricted stock issuance, net of forfeitures (in shares)		108,000
Restricted stock issuance, net of forfeitures	0	$ 1	(1)
Common stock and warrants issuance (in shares)		717,451
Common stock and warrants issuance	1,421	$ 7	1,414
Stock option exercise (in shares)		50,000
Stock option exercise	64	$ 1	63
Amortization of stock-based compensation	150		150
Ending Balance (in shares) at Sep. 30, 2022		14,043,642
Ending Balance at Sep. 30, 2022	$ 12,470	$ 140	2,516	9,814
Beginning Balance (in shares) at Dec. 31, 2022	14,132,033	14,132,033
Beginning Balance at Dec. 31, 2022	$ 12,047	$ 141	2,585	9,321
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,748)			(2,748)
Restricted stock issuance, net of forfeitures (in shares)		656,824
Restricted stock issuance, net of forfeitures	0	$ 7	(7)
Amortization of stock-based compensation	399		399
Ending Balance (in shares) at Mar. 31, 2023		14,788,857
Ending Balance at Mar. 31, 2023	$ 9,698	$ 148	2,977	6,573
Beginning Balance (in shares) at Dec. 31, 2022	14,132,033	14,132,033
Beginning Balance at Dec. 31, 2022	$ 12,047	$ 141	2,585	9,321
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (8,308)
Ending Balance (in shares) at Sep. 30, 2023	14,850,858	14,850,857
Ending Balance at Sep. 30, 2023	$ 4,787	$ 149	3,625	1,013
Beginning Balance (in shares) at Mar. 31, 2023		14,788,857
Beginning Balance at Mar. 31, 2023	9,698	$ 148	2,977	6,573
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,834)			(2,834)
Restricted stock issuance, net of forfeitures (in shares)		81,667
Restricted stock issuance, net of forfeitures	0	$ 1	(1)
Common stock and warrants issuance (in shares)		72,000
Common stock and warrants issuance	385	$ 1	384
Amortization of stock-based compensation	199		199
Ending Balance (in shares) at Jun. 30, 2023		14,942,524
Ending Balance at Jun. 30, 2023	7,448	$ 149	3,559	3,740
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,727)			(2,727)
Restricted stock issuance, net of forfeitures (in shares)		(91,667)
Restricted stock issuance, net of forfeitures	0	$ (1)	1
Amortization of stock-based compensation	$ 65		65
Ending Balance (in shares) at Sep. 30, 2023	14,850,858	14,850,857
Ending Balance at Sep. 30, 2023	$ 4,787	$ 149	$ 3,625	$ 1,013

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities:
Net income (loss)	$ (8,308)	$ 964
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation	703	686
Amortization of intangibles	239	239
Amortization of debt issuance costs	402	0
Non cash amortization of right-of-use asset and liability	(208)	(187)
Provision for excess and obsolete inventories	247	265
Charge for lower of cost or net realizable value inventories	51	0
Share based compensation expense	663	500
Gain on disposal of property and equipment	0	(212)
Changes in assets and liabilities:
Accounts receivable	191	4,066
Unbilled revenue	3,773	(359)
Inventories	1,477	(3,276)
Prepaid expenses and other current assets	4	(273)
Accounts payable	(2,630)	2,213
Accrued expenses and other liabilities	212	448
Deferred revenue	184	80
Net cash (used in) provided by operating activities	(3,000)	5,154
Investing Activities:
Purchases of property and equipment	(27)	(209)
Disposals of property and equipment	0	423
Net cash (used in) provided by investing activities	(27)	214
Financing Activities:
Change in bank line of credit	0	(2,050)
Proceeds from notes payable	2,850	0
Payment for debt issuance costs	(270)	0
Payments on notes payable	(378)	0
Payments on financing lease obligations	(474)	(719)
Proceeds from sale of common stock	0	1,627
Proceeds from stock options exercised	0	64
Net cash provided by (used in) financing activities	1,728	(1,078)
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,299)	4,290
Cash, cash equivalents and restricted cash at beginning of period	3,653	2,418
Cash, cash equivalents and restricted cash at end of period	$ 2,354	$ 6,708

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
Basis of Presentation and Accounting Policies	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies Basis of presentation The consolidated financial statements include the accounts of ADDvantage Technologies Group, Inc. and its subsidiaries, all of which are wholly owned (collectively, the “Company”). Intercompany balances and transactions have been eliminated in consolidation. The Company’s reportable segments are Wireless Infrastructure Services (“Wireless”) and Telecommunications (“Telco”). The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial statements and do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. However, the information furnished reflects all adjustments, which are, in the opinion of management, necessary in order to make the unaudited consolidated financial statements not misleading. The Company’s business is subject to seasonal variations due to weather in the geographic areas where services are performed, as well as calendar events and national holidays. Therefore, the results of operations for the nine months ended September 30, 2023 and 2022, are not necessarily indicative of the results to be expected for the full fiscal year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Recently Adopted Accounting Standards Financial Instruments – Credit Losses . The Financial Accounting Standards Board ("FASB") issued five Accounting Standards Updates (ASUs) related to financial instruments – credit losses. The ASUs issued were: (1) in June 2016, ASU 2016-13, “ Financial Instruments – Credit Losses (“ASC 326”): Measurement of Credit Losses on Financial Instruments,” (2) in November 2018, ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses,” (3) in April 2019, ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” (4) in May 2019, ASU 2019-05, “Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief ” and (5) in November 2019, ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses.” Additionally, in February and March 2020, the FASB issued ASU 2020-02, “Financial Instruments—Credit Losses (Topic 326) and Leases (ASC 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (ASC 842)” and ASU 2020-03, “Codification Improvements to Financial Instruments,” respectively, which include amendments to ASC 326. ASU 2016-13 is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. ASU 2018-19 clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with the leasing standard. ASU 2019-04 clarifies and improves areas of guidance related to the recently issued standards on financial instruments – credit losses, derivatives and hedging, and financial instruments. ASU 2019-05 provides entities that have certain instruments within the scope of ASC Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost, with an option to irrevocably elect the fair value option in Subtopic 825-10, Financial Instruments—Overall. ASU 2019-11 clarifies guidance around how to report expected recoveries and reinforces existing guidance that prohibits organizations from recording negative allowances for available-for-sale debt securities, among other narrow scope and technical improvements. ASU 2020-02 adds a Securities and Exchange Commission (SEC) paragraph pursuant to the issuance of SEC Staff Accounting Bulletin No. 119 on loan losses to FASB Codification ASC 326 and also updates the SEC section of the Codification for the change in the effective date of ASC 842. ASU 2020-03 makes narrow-scope improvements to various aspects of the financial instrument guidance as part of the FASB’s ongoing Codification improvement project aimed at clarifying specific areas of accounting guidance to help avoid unintended application.

Going Concern Assessment

Going Concern Assessment	9 Months Ended
Going Concern Assessment	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern Assessment	Going Concern Assessment The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. Should the Company be unable to continue as a going concern, it may be unable to realize the carrying value of its assets and to meet its liabilities as they become due. The Company has been subject to adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these unaudited interim consolidated financial statements, including negative financial trends, specifically operating losses, working capital deficiency, and other adverse key financial ratios. Additionally, the impacts of unfavorable wireless industry conditions and significant debt service requirements on the Company’s financial position, results of operations, and cash flows give rise to substantial doubt about the Company’s ability to pay its obligations as they come due. In consideration of the substantial amount of short-term debt outstanding, detailed below, and the aforementioned unfavorable wireless industry conditions, the Company will be engaging advisors to assist with the evaluation, negotiation, and consummation of strategic alternatives, which may include, but are not limited to, seeking a restructuring, amendment or refinancing of existing debt through a private restructuring, the issuance of equity securities, a sale of a portion or all of the Company or its assets, or reorganization under Chapter 11 of the Bankruptcy Code. However, there can be no assurances that the Company will be able to successfully restructure its indebtedness, raise additional capital, improve its financial position or complete any strategic transactions. As a result of these uncertainties and the likelihood of a restructuring or reorganization, management has concluded that there is substantial doubt regarding the Company’s ability to continue as a going concern within one year that these financial statements are made available. Management’s plans to alleviate the substantial doubt about the Company’s ability to continue as a going concern include attempting to grow its revenues and improve its business profitability and its ability to generate sufficient cash flow from its operations to meet its operating needs on a timely basis, obtaining additional working capital funds through various sources, and eliminating inefficiencies in order to meet its anticipated cash requirements. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures and other requirements. The unaudited interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. Management Plans In assessing the Company’s liquidity, management reviews its cash and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses, capital expenditure and debt service obligations. As of September 30, 2023, the Company’s current liabilities exceeded the current assets by approximately $6.3 million, exclusive of inventories. Management is evaluating all options to refinance its existing short-term debt obligations as well as exploring alternative financing, refinancing, restructuring and capital-raising activities, in order to address its ongoing liquidity needs and to maintain sufficient access to the loan and capital markets on commercially acceptable terms to finance its business. In support of these efforts, management is pursuing various initiatives including, but not limited to, the following: • Cash management: An attentive and strategic focus on cash flow has been implemented. A weekly cash flow forecast is produced that analyzes cash flow activities as well as anticipated cash flow. Also, the Company is focused on optimizing working capital management; • Operating results: Management is committed to focusing on operating results, which is expected to improve operating cash flows and bring the Company’s financial performance back in line with historical operating results. The Company expects to see continued improvement in cash flow throughout 2024 as the increase in orders from new customers improve earnings. As construction in the fiber broadband space increases, along with concerted attempts to enter into a long term agreement with a significant customer in the Wireless segment, sales growth is expected to increase and margins to expand as a result of operating leverage; • Capital spending: Management expects to minimize capital expenditures in 2024; • Strategic options: Management has met with several investment bankers to all strategic options, including the disposal of assets; and • Debt refinancing: Continued undertakings to partially or completely refinance the debt and find an alternative working capital facility following the maturity of the Company's accounts receivable agreement in December 2023 (see Note 14).

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company’s principal sales are from Wireless services and sales of Telco equipment, primarily in the United States. Sales to international customers totaled approximately $0.5 million and $1.1 million for the three months ended September 30, 2023 and 2022, respectively, and $3.3 million and $4.6 million for the nine months ended September 30, 2023 and 2022, respectively. The Company’s customers include wireless carriers, wireless equipment providers, multiple system operators, resellers and direct sales to end-user customers. Sales, which individually amounted to 10% or greater of the Company's revenue, to two customers totaled 27%, and to two customers totaled 30% of consolidated revenues for the nine months ended September 30, 2023 and 2022, respectively. Our sales by type were as follows, in thousands: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Wireless services sales $ 3,669 $ 7,898 $ 16,570 $ 22,907 Telco equipment 6,672 18,028 20,578 54,363 Total sales $ 10,341 $ 25,926 $ 37,148 $ 77,474 Contract assets and contract liabilities are included in unbilled revenue and deferred revenue, respectively, in the consolidated balance sheets. At September 30, 2023 and December 31, 2022, contract assets were $1.2 million and $5.0 million, respectively, and contract liabilities were $0.3 million and $0.1 million, respectively. The Company recognized $0.1 million of contract revenue during the nine months ended September 30, 2023 related to contract liabilities recorded in deferred revenue at December 31, 2022.

Accounts Receivable Agreements

Accounts Receivable Agreements	9 Months Ended
Accounts Receivable Agreements	Sep. 30, 2023
Receivables [Abstract]
Accounts Receivable Agreements	Accounts Receivable Agreements On August 9, 2023, the Company signed Modification Addendums (the "Modification") to its accounts receivable purchase facilities for its Nave, Triton, and Fulton subsidiaries with its primary financial lender. The Nave and Triton facilities, after Modification, provide a capacity of $5.0 million for Nave and $1.5 million for Triton. The lender charges a fee of 1.75% of sold receivables. The Fulton facilities, after Modification, provide a credit capacity excluding a major customer of $6.0 million, with a fee of 2.0% of sold receivables, and credit capacity secured by receivables of a major customer of $1.5 million, with a fee of 1.6% of sold receivables. All four facilities are secured by the subsidiary's receivables, and the lender advances 90% of sold receivables and establishes a reserve of 10% of the sold receivables at initial sale, which increases to 100% over time after 120 days, until the Company collects the sold receivables. All four facilities mature on December 17, 2023. The Company has a total capacity under all four facilities of $14.0 million. As of September 30, 2023, the lender has a reserve against the sold receivables of $0.7 million, which is reflected as restricted cash on the consolidated balance sheets. The facilities agreements address events and conditions which may obligate the Company to immediately repay the institution the outstanding purchase price of the receivables sold. The total amount of receivables uncollected by the institution was $4.0 million at September 30, 2023. Although the sale of receivables is with recourse, the Company did not record a recourse obligation at September 30, 2023 as the Company concluded that the sold receivables are collectible. For the nine months ended September 30, 2023, the Company received proceeds from the sold receivables under all of their various agreements of $30.6 million and included the proceeds in net cash provided by operating

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, which are all within the Telco segment, at September 30, 2023 and December 31, 2022 are as follows, in thousands: September 30, 2023 December 31, 2022 New equipment $ 1,822 $ 2,286 Refurbished and used equipment 10,084 11,148 Allowance for excess and obsolete inventory (4,118) (3,871) Total inventories, net $ 7,788 $ 9,563 New equipment includes products purchased from manufacturers plus “surplus-new”, which are unused products purchased from other distributors or multiple system operators. Refurbished and used equipment includes factory refurbished, Company refurbished and used products. Generally, the Company does not refurbish its used inventory until there is a sale of that product or to keep a certain quantity on hand.

Intangible Assets

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets with their associated accumulated amortization and impairment at September 30, 2023 and December 31, 2022 are as follows, in thousands: September 30, 2023 Intangible assets: Gross Accumulated Amortization Net Customer relationships – 10 years $ 3,155 $ (2,993) $ 162 Trade name – 10 years 2,122 (1,814) 308 Total intangible assets $ 5,277 $ (4,807) $ 470 December 31, 2022 Intangible assets: Gross Accumulated Net Customer relationships – 10 years $ 3,155 $ (2,913) $ 242 Trade name – 10 years 2,122 (1,655) 467 Total intangible assets $ 5,277 $ (4,568) $ 709

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Credit Agreement On March 17, 2022, the Company closed its $3.0 million credit facility for its Nave and Triton subsidiaries with its primary financial lender. See Note 4 - Accounts Receivable Agreements for more information about the Company's receivables purchase facilities. Convertible Promissory Notes In April 2023, the Company entered into securities purchase agreements for the issuance of convertible senior promissory notes (the “April Notes”) with Mast Hill Fund, L.P. (the “Holder”). In the aggregate, the principal balance was $3.0 million, of which the purchase price was $2.8 million, and the original issue discount was $0.2 million. The April Notes have a term of one year and bear interest at a rate of 13% per annum. The Company and its subsidiaries entered into certain Security Agreements, creating a security interest in certain property of the Company and its subsidiaries to secure the prompt payment, performance, and discharge in full of the Company’s obligations under the April Notes. The April Notes are subject to certain covenants as defined in the securities purchase agreement which includes maintaining its common stock listing status with the Nasdaq Capital Market, and maintaining a minimum market capitalization of $5 million. In connection with the issuance of the April Notes, the Company issued (i) warrants to purchase 360,000 shares of common stock with an exercise price of $2.50 exercisable until the five-year anniversary of the closing date, and (ii) a warrant to purchase 288,000 shares of common stock with an exercise price of $1.40 exercisable until the five-year anniversary of the closing date, which warrant shall be cancelled and extinguished against payment of the Notes (together, the “April Warrants”). Additionally, as a commitment fee to the Holder, 72,000 shares of the Company’s common stock were issued in connection with the April Notes. The April Notes also contain a conversion feature which allows the Holder to convert any portion of the outstanding unpaid principal and interest into shares of the Company’s common stock at a conversion price of $2.50 per share. Pursuant to the April Notes, the Company is required to hold an annual shareholders meeting within 90 calendar days after the first date that the Company's common stock traded at a share price below $1.00 during five five The conversion feature contained in the April Notes was evaluated for derivative accounting under ASC 815, Derivatives and Hedging , and determined not to be considered a derivative and therefore has been recorded in liabilities as part of the April Notes and not bifurcated. The April Warrants were evaluated and did not meet the criteria to be classified as derivatives, and accordingly, were recognized as equity instruments at fair value using a Black-Scholes model valuation. The commitment fee shares were earned upon closing, and as such were recognized as equity based on the closing stock price. As of September 30, 2023, the contra-liabilities for the commitment fee and April Warrants were $0.2 million and are amortized to interest expense, the remaining debt issuance costs were $0.2 million, repayments on the April Notes were $0.4 million, and the net outstanding principal balance of the April Notes was $2.2 million.

Equity Distribution Agreement a

Equity Distribution Agreement and Sale of Common Stock	9 Months Ended
Equity Distribution Agreement and Sale of Common Stock	Sep. 30, 2023
Equity [Abstract]
Equity Distribution Agreement and Sale of Common Stock	Equity Distribution Agreement and Sale of Common Stock On April 24, 2020, the Company entered into an Equity Distribution Agreement (the “Sales Agreement”) with Northland Securities, Inc., as agent (“Northland”), pursuant to which the Company may offer and sell, from time to time, through Northland, shares of the Company’s common stock, par value $0.01 per share, having an aggregate offering price of up to $13.9 million ("Shares"). The offer and sale of the Shares were made pursuant to a shelf registration statement on Form S-3 and the related prospectus filed by the Company with the Securities and Exchange Commission (the "SEC") on March 3, 2020, as amended on March 23, 2020, and declared effective by the SEC on April 1, 2020. Pursuant to the Sales Agreement, Northland sold the Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 of the Securities Act of 1933 (the “Securities Act”), including sales made by means of ordinary brokers’ transactions, including on The Nasdaq Capital Market, at market prices or as otherwise agreed with Northland. Northland used commercially reasonable efforts consistent with its normal trading and sales practices to sell the Shares from time to time, based upon instructions from the Company, including any price or size limits or other customary parameters or conditions the Company may have imposed. The Company paid Northland a commission rate equal to an aggregate of 3.0% of the aggregate gross proceeds from each sale of Shares and agreed to provide Northland with customary indemnification and contribution rights. The Company also reimbursed Northland for certain specified expenses in connection with entering into the Sales Agreement. The Sales Agreement contained customary representations and warranties and conditions to the placements of the Shares pursuant thereto. During the nine months ended September 30, 2022, 892,181 Shares were sold by Northland on behalf of the Company with gross proceeds of $1.7 million, and net proceeds after commissions and fees of $1.6 million. On November 28, 2022, the Company terminated the Sales Agreement with Northland. There were no penalties

Earnings per Share

Earnings per Share	9 Months Ended
Earnings per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022, in thousands: Three Months Ended September 30, Nine Months Ended 2023 2022 2023 2022 Net income (loss) attributable to common shareholders $ (2,727) $ 1,483 $ (8,308) $ 964 Basic and diluted weighted average shares 14,257 13,638 13,883 13,302 Basic and diluted income (loss) per common share $ (0.19) $ 0.11 $ (0.60) $ 0.07 The table below includes information related to stock options and restricted stock awards that were outstanding at the end of each respective three and nine-month period ended September 30, but have been excluded from the computation of weighted average shares for dilutive securities because their effect would be anti-dilutive. Three Months Ended September 30, Nine Months Ended 2023 2022 2023 2022 Unvested restricted stock awards 662,488 — 787,686 —

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information (in thousands) Nine Months Ended September 30, 2023 2022 Supplemental cash flow information: Cash paid for interest $ 663 $ 134 Cash paid for taxes $ 18 $ — Supplemental noncash investing and financing activities: Assets acquired under financing leases $ — $ 273 Common stock and warrants issued in conjunction with the issuance of convertible debt $ 384 $ —

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Plan Information The 2015 Incentive Stock Plan (the “Plan”) provides for awards of stock options and restricted stock to officers, directors, key employees and consultants. At September 30, 2023, 3,100,415 shares of common stock were reserved for stock award grants under the Plan. Of these reserved shares, 425,479 shares were available for future grants. Restricted stock awards A summary of the Company's non-vested restricted share awards at September 30, 2023 and changes during the three months ended September 30, 2023 is presented in the following table (in thousands, except shares): Shares Fair Value Non-vested at June 30, 2023 897,490 $ 1,311 Granted 40,000 25 Vested (143,335) (353) Forfeited (131,667) (193) Non-vested at September 30, 2023 662,488 $ 790 During the three month period ended September 30, 2023 and 2022, expenses related to share-based arrangements including restricted stock, were $0.1 million and $0.1 million, respectively. During the nine months ended September 30, 2023 and 2022, compensation expenses related to share-based arrangements including restricted stock, were $0.7 million and $0.5 million respectively. The Company did not recognize a tax benefit for compensation expense recognized during the three and nine months ended September 30, 2023 and 2022. At September 30, 2023, unrecognized compensation expense related to non-vested stock-based compensation awards not yet recognized in the consolidated statements of operations was $0.4 million. That cost is expected to be recognized over a period of 3.0 years.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2023
Leases [Abstract]
Leases	LeasesThe Company has a right-of-use for a building in Jessup, Maryland which was no longer being used in operations. The Maryland property was subleased as of September 30, 2023 and will end in November, 2023. Rental payments received related to the sublease was recorded as a reduction of rent expense in our consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022.

Segment Reporting

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company is reporting its financial performance based on its external reporting segments: Wireless Infrastructure Services and Telecommunications. These reportable segments are described below. Wireless Infrastructure Services (“Wireless”) The Company's Wireless segment provides turn-key wireless infrastructure services for the four major U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers that support these wireless carriers. These services primarily consist of the installation and upgrade of technology on cell sites and the construction of new small cells for 5G. Telecommunications (“Telco”) The Company’s Telco segment sells new and refurbished telecommunications networking equipment, including both central office and customer premise equipment, to its customer base of telecommunications providers, enterprise customers and resellers located primarily in North America. This segment also offers its customers repair and testing services for telecommunications networking equipment. The Company evaluates performance and allocates its resources based on operating income. The accounting policies of its reportable segments are the same as those described in the summary of significant accounting policies. Segment assets consist primarily of cash and cash equivalents, accounts receivable, inventory, property and equipment, goodwill and intangible assets. The Company allocates its corporate general and administrative expenses to the reportable segments. (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Sales Wireless $ 3,669 $ 7,898 $ 16,570 $ 22,908 Telco 6,672 18,028 20,578 54,566 Total sales $ 10,341 $ 25,926 $ 37,148 $ 77,474 Gross profit Wireless $ 948 $ 2,839 $ 4,079 $ 6,350 Telco 1,891 5,704 5,449 16,098 Total gross profit $ 2,839 $ 8,543 $ 9,528 $ 22,448 Income (loss) from operations Wireless $ (1,853) $ (202) $ (5,617) $ (3,859) Telco (376) 1,994 (1,465) 5,632 Total income (loss) from operations $ (2,229) $ 1,792 $ (7,082) $ 1,773 (in thousands) September 30, 2023 December 31, 2022 Segment assets Wireless $ 5,379 $ 9,790 Telco 10,526 13,217 Non-allocated 2,630 4,211 Total assets $ 18,535 $ 27,218

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the filing of this Form 10-Q, and except as described below, determined that there have been no events that have occurred that would require adjustments to our disclosures in the consolidated financial statements. Waiver of Minimum Market Capitalization Requirement by Mast Hill In connection with the April Notes, the Company is required to maintain a minimum market capitalization of $5 million. In October 2023, the Company's market capitalization fell below the minimum threshold. On October 27, 2023, Mast Hill and the Company amended the April Notes and removed the minimum threshold. The Company issued Mast Hill 142,220 shares of Common Stock in exchange for the amendment. Accounts Receivable Agreements with Vast Bank, N.A. In October 2023, Vast Bank, N.A. notified the Company of their intent to not renew the accounts receivable purchase facilities for Nave, Triton, and Fulton when the agreements mature on December 17, 2023. Reverse Stock Split On November 9, 2023, the Company announced that its Chief Executive Officer approved a one-for-ten reverse stock split of shares of the Company's common stock, $0.01 par value per share, where every ten issued and outstanding shares of common stock will be converted into one share of common stock. The reverse stock split is expected to take effect as of 12:01 a.m., Eastern Time, on November 16, 2023. The financial statements have not been adjusted because the reverse stock split was not effective as of the filing date of this quarterly report. The reverse stock split will be applied retrospectively once it is effective.

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
Basis of Presentation and Accounting Policies (Policies)	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements include the accounts of ADDvantage Technologies Group, Inc. and its subsidiaries, all of which are wholly owned (collectively, the “Company”). Intercompany balances and transactions have been eliminated in consolidation. The Company’s reportable segments are Wireless Infrastructure Services (“Wireless”) and Telecommunications (“Telco”). The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial statements and do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. However, the information furnished reflects all adjustments, which are, in the opinion of management, necessary in order to make the unaudited consolidated financial statements not misleading. The Company’s business is subject to seasonal variations due to weather in the geographic areas where services are performed, as well as calendar events and national holidays. Therefore, the results of operations for the nine months ended September 30, 2023 and 2022, are not necessarily indicative of the results to be expected for the full fiscal year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Financial Instruments – Credit Losses . The Financial Accounting Standards Board ("FASB") issued five Accounting Standards Updates (ASUs) related to financial instruments – credit losses. The ASUs issued were: (1) in June 2016, ASU 2016-13, “ Financial Instruments – Credit Losses (“ASC 326”): Measurement of Credit Losses on Financial Instruments,” (2) in November 2018, ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses,” (3) in April 2019, ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” (4) in May 2019, ASU 2019-05, “Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief ” and (5) in November 2019, ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses.” Additionally, in February and March 2020, the FASB issued ASU 2020-02, “Financial Instruments—Credit Losses (Topic 326) and Leases (ASC 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (ASC 842)” and ASU 2020-03, “Codification Improvements to Financial Instruments,” respectively, which include amendments to ASC 326. ASU 2016-13 is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. ASU 2018-19 clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with the leasing standard. ASU 2019-04 clarifies and improves areas of guidance related to the recently issued standards on financial instruments – credit losses, derivatives and hedging, and financial instruments. ASU 2019-05 provides entities that have certain instruments within the scope of ASC Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost, with an option to irrevocably elect the fair value option in Subtopic 825-10, Financial Instruments—Overall. ASU 2019-11 clarifies guidance around how to report expected recoveries and reinforces existing guidance that prohibits organizations from recording negative allowances for available-for-sale debt securities, among other narrow scope and technical improvements. ASU 2020-02 adds a Securities and Exchange Commission (SEC) paragraph pursuant to the issuance of SEC Staff Accounting Bulletin No. 119 on loan losses to FASB Codification ASC 326 and also updates the SEC section of the Codification for the change in the effective date of ASC 842. ASU 2020-03 makes narrow-scope improvements to various aspects of the financial instrument guidance as part of the FASB’s ongoing Codification improvement project aimed at clarifying specific areas of accounting guidance to help avoid unintended application.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Our sales by type were as follows, in thousands: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Wireless services sales $ 3,669 $ 7,898 $ 16,570 $ 22,907 Telco equipment 6,672 18,028 20,578 54,363 Total sales $ 10,341 $ 25,926 $ 37,148 $ 77,474

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, which are all within the Telco segment, at September 30, 2023 and December 31, 2022 are as follows, in thousands: September 30, 2023 December 31, 2022 New equipment $ 1,822 $ 2,286 Refurbished and used equipment 10,084 11,148 Allowance for excess and obsolete inventory (4,118) (3,871) Total inventories, net $ 7,788 $ 9,563

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Intangible assets with their associated accumulated amortization and impairment at September 30, 2023 and December 31, 2022 are as follows, in thousands: September 30, 2023 Intangible assets: Gross Accumulated Amortization Net Customer relationships – 10 years $ 3,155 $ (2,993) $ 162 Trade name – 10 years 2,122 (1,814) 308 Total intangible assets $ 5,277 $ (4,807) $ 470 December 31, 2022 Intangible assets: Gross Accumulated Net Customer relationships – 10 years $ 3,155 $ (2,913) $ 242 Trade name – 10 years 2,122 (1,655) 467 Total intangible assets $ 5,277 $ (4,568) $ 709

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022, in thousands: Three Months Ended September 30, Nine Months Ended 2023 2022 2023 2022 Net income (loss) attributable to common shareholders $ (2,727) $ 1,483 $ (8,308) $ 964 Basic and diluted weighted average shares 14,257 13,638 13,883 13,302 Basic and diluted income (loss) per common share $ (0.19) $ 0.11 $ (0.60) $ 0.07
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The table below includes information related to stock options and restricted stock awards that were outstanding at the end of each respective three and nine-month period ended September 30, but have been excluded from the computation of weighted average shares for dilutive securities because their effect would be anti-dilutive. Three Months Ended September 30, Nine Months Ended 2023 2022 2023 2022 Unvested restricted stock awards 662,488 — 787,686 —

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	(in thousands) Nine Months Ended September 30, 2023 2022 Supplemental cash flow information: Cash paid for interest $ 663 $ 134 Cash paid for taxes $ 18 $ — Supplemental noncash investing and financing activities: Assets acquired under financing leases $ — $ 273 Common stock and warrants issued in conjunction with the issuance of convertible debt $ 384 $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Non-vested Restricted Share Awards	A summary of the Company's non-vested restricted share awards at September 30, 2023 and changes during the three months ended September 30, 2023 is presented in the following table (in thousands, except shares): Shares Fair Value Non-vested at June 30, 2023 897,490 $ 1,311 Granted 40,000 25 Vested (143,335) (353) Forfeited (131,667) (193) Non-vested at September 30, 2023 662,488 $ 790

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company evaluates performance and allocates its resources based on operating income. The accounting policies of its reportable segments are the same as those described in the summary of significant accounting policies. Segment assets consist primarily of cash and cash equivalents, accounts receivable, inventory, property and equipment, goodwill and intangible assets. The Company allocates its corporate general and administrative expenses to the reportable segments. (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Sales Wireless $ 3,669 $ 7,898 $ 16,570 $ 22,908 Telco 6,672 18,028 20,578 54,566 Total sales $ 10,341 $ 25,926 $ 37,148 $ 77,474 Gross profit Wireless $ 948 $ 2,839 $ 4,079 $ 6,350 Telco 1,891 5,704 5,449 16,098 Total gross profit $ 2,839 $ 8,543 $ 9,528 $ 22,448 Income (loss) from operations Wireless $ (1,853) $ (202) $ (5,617) $ (3,859) Telco (376) 1,994 (1,465) 5,632 Total income (loss) from operations $ (2,229) $ 1,792 $ (7,082) $ 1,773 (in thousands) September 30, 2023 December 31, 2022 Segment assets Wireless $ 5,379 $ 9,790 Telco 10,526 13,217 Non-allocated 2,630 4,211 Total assets $ 18,535 $ 27,218

Going Concern Assessment (Detai

Going Concern Assessment (Details) $ in Millions	Sep. 30, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Current liabilities exceeded the current assets	$ 6.3

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Sales	$ 10,341	$ 25,926	$ 37,148	$ 77,474
Contract assets	1,232		1,232		$ 5,005
Contract liabilities	332		332		$ 148
Contract liabilities, revenue recognized			$ 100
Customer Concentration Risk \| Revenue Benchmark \| Two Customers
Disaggregation of Revenue [Line Items]
Consolidate revenues, percentage of sales			27%	30%
Non-US
Disaggregation of Revenue [Line Items]
Sales	$ 500	$ 1,100	$ 3,300	$ 4,600

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total sales	$ 10,341	$ 25,926	$ 37,148	$ 77,474
Wireless services sales
Disaggregation of Revenue [Line Items]
Total sales	3,669	7,898	16,570	22,907
Telco equipment \| Telco equipment
Disaggregation of Revenue [Line Items]
Total sales	$ 6,672	$ 18,028	$ 20,578	$ 54,363

Accounts Receivable Agreements

Accounts Receivable Agreements (Details) $ in Thousands	9 Months Ended
Accounts Receivable Agreements (Details) $ in Thousands	Sep. 30, 2023 USD ($) facility	Dec. 17, 2023 facility	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable agreement reserve of sold receivables, increase period	120 days
Line of credit facility, number of lines of credit facilities \| facility	4
Line of credit, maximum borrowing capacity	$ 14,000
Restricted cash	$ 722		$ 1,101
Certain Receivables to Unrelated Third-parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable agreement percent of sold receivables advanced, deduction	1.75%
Accounts receivable agreement number of facilities \| facility	4
Accounts receivable agreement, percent of sold receivables advanced	90%
Accounts receivable agreement, reserve of sold receivables, percent	10%
Accounts receivable agreement percent of sold receivables final percentage	100%
Certain Receivables to Unrelated Third-parties \| Other Nonoperating Income (Expense)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from collection of finance receivables	$ 30,600
Cost of selling receivables	500
Certain Receivables to Unrelated Third-parties \| Forecast
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable agreement number of facilities \| facility		4
Certain Receivables to Unrelated Third-parties \| Customer One
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum credit purchase capacity	$ 6,000
Accounts receivable sales percentage	2%
Certain Receivables to Unrelated Third-parties \| Customer Two
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum credit purchase capacity	$ 1,500
Accounts receivable sales percentage	1.60%
Uncollectible Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Thirty party financial institution reserve	$ 4,000
Nave
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum credit purchase capacity	5,000
Triton
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum credit purchase capacity	$ 1,500

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Allowance for excess and obsolete inventory	$ (4,118)	$ (3,871)
Total inventories, net	7,788	9,563
New equipment
Inventory [Line Items]
Inventory, gross	1,822	2,286
Refurbished and used equipment
Inventory [Line Items]
Inventory, gross	$ 10,084	$ 11,148

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 5,277	$ 5,277
Accumulated Amortization	(4,807)	(4,568)
Net	$ 470	$ 709
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years	10 years
Gross	$ 3,155	$ 3,155
Accumulated Amortization	(2,993)	(2,913)
Net	$ 162	$ 242
Trade names
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years	10 years
Gross	$ 2,122	$ 2,122
Accumulated Amortization	(1,814)	(1,655)
Net	$ 308	$ 467

Debt (Details)

Debt (Details) - USD ($) $ / shares in Units, shares in Thousands		1 Months Ended	9 Months Ended
	May 01, 2023	Apr. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Mar. 17, 2022
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			$ 14,000,000
Commitment fee payable in shares (in shares, up to)		72
Price triggering shareholders' meeting (In dollars per share)	$ 1		$ 1
Consecutive days of certain price to trigger shareholders' meeting			5 years
Consecutive period of trading under 1 dollar	5 days
Amortization of debt issuance costs			$ 402,000	$ 0
Warrants With 2.5$ Exercise Price
Debt Instrument [Line Items]
Number of warrants issuable (in shares)		360
Exercise price of warrants (in dollars per share)		$ 2.50
Warrant exercise period		5 years
Warrants With 1.4$ Exercise Price
Debt Instrument [Line Items]
Number of warrants issuable (in shares)		288
Exercise price of warrants (in dollars per share)		$ 1.40
Warrant exercise period		5 years
Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 3,000,000
Debt instrument, interest rate		13%
Minimum market capitalization		$ 5,000,000
Unamortized discount and debt issuance costs			200,000
Amortization of debt issuance costs			200,000
Repayments of long-term debt			400,000
Outstanding amount			$ 2,200,000
Convertible Notes Issued April 2023 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument original issue discount		200,000
Convertible Notes Issued April 2023 \| Convertible Debt \| Mast Hill Fund, L.P. (The Purchaser)
Debt Instrument [Line Items]
Long-term debt, total		$ 2,800,000
Revolving Credit Facility \| New Credit Agreement
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					$ 3,000,000

Equity Distribution Agreement_2

Equity Distribution Agreement and Sale of Common Stock (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Apr. 24, 2020
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Commission rate				3%
Proceeds from sale of common stock, gross	$ 0	$ 1,627,000
Sales Agreement With Northland
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)				$ 0.01
Maximum aggregate offering price				$ 13,900,000
Issuance of common shares (in shares)	0	892,181
Proceeds from issuance of common stock gross		$ 1,700,000
Proceeds from sale of common stock, gross		$ 1,600,000

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income (loss) attributable to common shareholders	$ (2,727)	$ (2,834)	$ (2,748)	$ 1,483	$ 875	$ (1,394)	$ (8,308)	$ 964
Basic weighted average shares (in shares)	14,256,869			13,638,162			13,882,628	13,302,410
Diluted weighted average shares (in shares)	14,256,869			13,638,162			13,882,628	13,302,410
Basic income (loss) per common share (in dollars per share)	$ (0.19)			$ 0.11			$ (0.60)	$ 0.07
Diluted income (loss) per common share (in dollars per share)	$ (0.19)			$ 0.11			$ (0.60)	$ 0.07

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Unvested restricted stock awards (in shares)	662,488	0	787,686	0

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Supplemental cash flow information:
Cash paid for interest	$ 663	$ 134
Cash paid for taxes	18	0
Supplemental noncash investing and financing activities:
Assets acquired under financing leases	0	273
Common stock and warrants issued in conjunction with the issuance of convertible debt	$ 384	$ 0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 0.1	$ 0.1	$ 0.7	$ 0.5
Compensation cost, not yet recognized	$ 0.4		$ 0.4
Recognized over a period			3 years
The 2015 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	3,100,415		3,100,415
Number of shares available for grant (in shares)	425,479		425,479

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-vested Restricted Share Awards (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($) shares
Shares
Nonvested, beginning balance (in shares) \| shares	897,490
Granted (in shares) \| shares	40,000
Vested (in shares) \| shares	(143,335)
Forfeited (in shares) \| shares	(131,667)
Nonvested, ending balance (in shares) \| shares	662,488
Fair Value
Non-vested, beginning balance (in dollars per share) \| $	$ 1,311
Granted (in dollars per share) \| $	25
Vested (in dollars per share) \| $	(353)
Forfeited (in dollars per share) \| $	(193)
Non-vested, ending balance (in dollars per share) \| $	$ 790

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Reporting (Details) $ in Thousands	Sep. 30, 2023 USD ($) carrier	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) carrier	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of U.S. wireless carriers \| carrier	4		4
Sales	$ 10,341	$ 25,926	$ 37,148	$ 77,474
Gross profit	2,839	8,543	9,528	22,448
Income (loss) from operations	(2,229)	1,792	(7,082)	1,773
Segment assets	18,535		18,535		$ 27,218
Operating segments
Segment Reporting Information [Line Items]
Sales	10,341	25,926	37,148	77,474
Income (loss) from operations	(2,229)	1,792	(7,082)	1,773
Non-allocated
Segment Reporting Information [Line Items]
Segment assets	2,630		2,630		4,211
Wireless \| Operating segments
Segment Reporting Information [Line Items]
Sales	3,669	7,898	16,570	22,908
Gross profit	948	2,839	4,079	6,350
Income (loss) from operations	(1,853)	(202)	(5,617)	(3,859)
Segment assets	5,379		5,379		9,790
Telco \| Operating segments
Segment Reporting Information [Line Items]
Sales	6,672	18,028	20,578	54,566
Gross profit	1,891	5,704	5,449	16,098
Income (loss) from operations	(376)	$ 1,994	(1,465)	$ 5,632
Segment assets	$ 10,526		$ 10,526		$ 13,217

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Millions			1 Months Ended
	Nov. 09, 2023 $ / shares	Oct. 27, 2023 shares	Apr. 30, 2023 USD ($)	Sep. 30, 2023 $ / shares	Dec. 31, 2022 $ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Convertible Debt
Subsequent Event [Line Items]
Minimum market capitalization \| $			$ 5
Subsequent Event
Subsequent Event [Line Items]
Stock split	0.1
Common stock, par value (in dollars per share)	$ 0.01
Common Stock \| Subsequent Event
Subsequent Event [Line Items]
Shares issued during period (in shares) \| shares		142,220