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Unaudited Quarterly Results of Operations Data | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Results of Operations Data | 17. Unaudited Quarterly Results of Operations Data The following table sets forth our unaudited quarterly consolidated results of operations for each of the eight quarterly periods in the period ended December 31, 2020. Our unaudited quarterly results of operations have been prepared on the same basis as our audited consolidated financial statements, and we believe they reflect all normal recurring adjustments necessary for the fair statement of our results of operations for these periods. This information should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this Annual Report. Our historical operating data may not be indicative of our future performance.
|  | Three Months Ended
|  | Mar. 31, |  | Jun. 30, |  | Sep. 30, |  | Dec. 31, |  | Mar. 31, |  | Jun. 30, |  | Sep. 30, |  | Dec. 31,
|  | 2019 |  | 2019 |  | 2019 |  | 2019 |  | 2020 (1) |  | 2020 (1) |  | 2020 (1) |  | 2020
|  | (in thousands)
Revenue |  | $ | 47,197 |  | $ | 56,168 |  | $ | 61,196 |  | $ | 65,122 |  | $ | 81,024 |  | $ | 64,605 |  | $ | 98,928 |  | $ | 100,301
Cost of services |  |  | 37,233 |  |  | 44,716 |  |  | 48,876 |  |  | 53,353 |  |  | 64,422 |  |  | 52,650 |  |  | 78,092 |  |  | 79,635
Gross profit |  |  | 9,964 |  |  | 11,452 |  |  | 12,320 |  |  | 11,769 |  |  | 16,602 |  |  | 11,955 |  |  | 20,836 |  |  | 20,666
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 2,346 |  |  | 3,117 |  |  | 3,183 |  |  | 3,255 |  |  | 3,267 |  |  | 3,608 |  |  | 3,355 |  |  | 4,776
General and administrative |  |  | 4,508 |  |  | 5,981 |  |  | 6,068 |  |  | 7,370 |  |  | 9,904 |  |  | 9,419 |  |  | 12,653 |  |  | 14,729
Total operating expenses |  |  | 6,854 |  |  | 9,098 |  |  | 9,251 |  |  | 10,625 |  |  | 13,171 |  |  | 13,027 |  |  | 16,008 |  |  | 19,505
Income (loss) from operations |  |  | 3,110 |  |  | 2,354 |  |  | 3,069 |  |  | 1,144 |  |  | 3,431 |  |  | (1,072) |  |  | 4,828 |  |  | 1,161
Other income |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 164 |  |  | 3 |  |  | 11 |  |  | 32
Interest income (expense), net |  |  | (38) |  |  | (128) |  |  | (28) |  |  | 136 |  |  | 150 |  |  | 5 |  |  | (17) |  |  | (17)
Convertible preferred stock warrant valuation adjustment |  |  | (551) |  |  | (642) |  |  | (11,226) |  |  | (5,757) |  |  | — |  |  | — |  |  | — |  |  | —
Total other income (expense), net |  |  | (589) |  |  | (770) |  |  | (11,254) |  |  | (5,621) |  |  | 314 |  |  | 8 |  |  | (6) |  |  | 15
Income (loss) before income taxes |  |  | 2,521 |  |  | 1,584 |  |  | (8,185) |  |  | (4,477) |  |  | 3,745 |  |  | (1,064) |  |  | 4,822 |  |  | 1,176
Benefit (provision) for income taxes |  |  | — |  |  | (64) |  |  | (25) |  |  | 77 |  |  | (116) |  |  | — |  |  | — |  |  | 37,896
Net income (loss) |  | $ | 2,521 |  | $ | 1,520 |  | $ | (8,210) |  | $ | (4,400) |  | $ | 3,629 |  | $ | (1,064) |  | $ | 4,822 |  | $ | 39,072
Net income (loss) attributable to common stockholders |  | $ | 31 |  | $ | — |  | $ | (8,210) |  | $ | (4,400) |  | $ | 3,629 |  | $ | (1,064) |  | $ | 4,822 |  | $ | 39,072
Net income (loss) per share attributable to common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.01 |  | $ | — |  | $ | (1.10) |  | $ | (0.07) |  | $ | 0.04 |  | $ | (0.01) |  | $ | 0.06 |  | $ | 0.45
Diluted |  | $ | 0.01 |  | $ | — |  | $ | (1.10) |  | $ | (0.07) |  | $ | 0.04 |  | $ | (0.01) |  | $ | 0.05 |  | $ | 0.39
Weighted-average shares used in computing net income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 15,120,928 |  |  | 5,172,209 |  |  | 7,472,469 |  |  | 64,192,100 |  |  | 84,537,538 |  |  | 85,281,151 |  |  | 86,265,297 |  |  | 86,514,619
Diluted |  |  | 15,120,928 |  |  | 5,172,209 |  |  | 7,472,469 |  |  | 64,192,100 |  |  | 99,665,158 |  |  | 85,281,151 |  |  | 98,969,588 |  |  | 99,021,233
(1) In the fourth quarter of 2020, the Company adopted ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326)” with an adoption date of January 1, 2020. As such, quarterly financial information for the interim periods of 2020 has been recast with resulting impacts to the previously disclosed general and administrative expense of $0.4 million, $(0.7) million, and $0.5 million for the three-month periods ended March 31, 2020, June 30, 2020, and September 30, 2020, respectively. Refer to Note 2 for further discussion of the new accounting pronouncements recently adopted.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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