v3.26.1

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 16,883,000	$ 16,988,000
Inventories, net	22,045,000	23,598,000
Prepaid expenses	3,631,000	3,796,000
Total current assets	51,894,000	52,520,000
Property and equipment, net	8,100,000	8,234,000
Goodwill	55,000	55,000
Right-of-use assets	7,530,000	7,775,000
Equity investment in unconsolidated affiliate	5,405,000	5,548,000
Total assets	72,984,000	74,132,000
Current liabilities:
Accounts payable	934,000	2,005,000
Accrued liabilities	714,000	1,088,000
Lease liabilities	971,000	965,000
Total current liabilities	2,619,000	4,058,000
Lease liabilities, net of current portion	6,673,000	6,917,000
Deferred income tax liabilities, net	679,000	679,000
Total liabilities	9,971,000	11,654,000
Commitments and contingincies
Shareholders' equity:
Common stock, $.01 par value: 50,000,000 shares authorized; 10,131,565 shares outstanding as of March 31, 2026 and December 31, 2025, respectively	101,000	101,000
Additional paid-in capital	15,960,000	15,828,000
Retained earnings	49,198,000	48,496,000
Accumulated other comprehensive loss	(2,246,000)	(1,947,000)
Total shareholders' equity	63,013,000	62,478,000
Total liabilities and shareholders' equity	72,984,000	74,132,000
Nonrelated Party [Member]
Assets
Accounts receivable, net	7,872,000	6,936,000
Related Party [Member]
Assets
Accounts receivable, net	$ 1,463,000	$ 1,202,000

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

ALPHA PRO TECH LTD 10-Q