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BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase price paid for HRG as of September 30, 2022 was as follows:

(In thousands)			Purchase Price Allocation
Acquired cash			$	3,989
Accounts receivable			5,655
Prepaid expenses			398
Property and equipment			467
Other assets			73
Intangible assets			24,200
Operating lease assets			1,315
Goodwill			21,081
Accounts payable and accrued liabilities			(2,403)
Deferred taxes, net			(5,565)
Operating lease liability			(1,315)
Net assets acquired			$	47,895

The allocation of the purchase price paid for TruCode was as follows:

(In thousands)			Purchase Price Allocation
Acquired cash			$	4,249
Accounts receivable			924
Prepaid expenses			2
Intangible assets			37,300
Goodwill			27,287
Accounts payable and accrued liabilities			(1,840)
Contingent consideration			(2,500)
Deferred revenue			(1,300)
Net assets acquired			$	64,122

Schedule of Business Acquisition, Pro Forma Information

The following unaudited pro forma revenue, net income and earnings per share amounts for the three and nine months ended September 30, 2022 give effect to the HRG acquisition as if it had been completed on January 1, 2021. The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of what the operating results actually would have been during the periods presented had the HRG acquisition been completed during the periods presented. In addition, the unaudited pro forma financial information does not purport to project future operating results. The pro forma information does not fully reflect: (1) any anticipated synergies (or costs to achieve synergies) or (2) the impact of non-recurring items directly related to the HRG acquisition.

			Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands, except per share data)			2022						2021						2022						2021
Pro forma revenues			$	82,827					$	78,395					$	249,764					$	231,049
Pro forma net income			$	2,285					$	2,146					$	13,973					$	11,520
Pro forma diluted earnings per share			$	0.16					$	0.15					$	0.95					$	0.78

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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