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RESTRUCTURING ACTIVITIES | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
RESTRUCTURING ACTIVITIES | RESTRUCTURING ACTIVITIES During September 2023, the Company initiated workforce reductions of 14 employees. The Company incurred approximately $0.9 million in severance charges in connection with the workforce reductions, consisting of cash expenditures for employee separation costs of approximately $0.7 million and non-cash charges for the accelerated vesting of certain equity awards of approximately $0.2 million. The cash payments are expected to be substantially completed by the third quarter of 2024. On April 6, 2023, the Company made the decision to close the Ovation credit services business ( the "Ovation Closure".) The Ovation Closure includes the elimination of approximately 197 employees, or 18%, of the Company's current workforce. As a result of the Ovation Closure, the Company incurred $2.1 million in restructuring expense in connection with cash expenditures for employee separation costs. The Ovation Closure, including cash payments, is expected to be completed by the first quarter of 2024. On March 24, 2023, the Company committed to a workforce reduction plan (the “Reduction Plan”), to reduce operating costs. The Reduction Plan includes the elimination of approximately 162 employees, or 13%, of the Company’s current workforce. As a result of the Reduction Plan, the Company incurred approximately $5.3 million in severance charges in connection with the workforce reduction, consisting of cash expenditures for employee separation costs of approximately $4.3 million and non-cash charges for the accelerated vesting of certain equity awards of approximately $1.0 million. The Reduction Plan, including cash payments, is expected to be substantially completed by the end of the second quarter of 2024. During 2022, the Company completed workforce reductions in each of the first, second, and fourth quarters of approximately 75 employees, 25 employees, and 50 employees, respectively. The Company incurred total expense in 2022 of $4.4 million consisting of employee separation costs of $3.3 million and non-cash compensation expense of $1.1 million due to the accelerated vesting of certain equity awards. All employee separation costs for 2022 actions were paid by the end of 2023.
| Accrued Balance at December 31, 2022 | Income Statement Impact | Payments | Non-Cash | Accrued Balance at December 31, 2023
Q3 2023 action |  |  |  |  |
Employee separation payments | — |  | 683 |  | (429) |  | — |  | 254 |
Non-cash compensation | — |  | 205 |  | — |  | (205) |  | — |
Q2 2023 action |  |  |  |  |
Employee separation payments | — |  | 2,063 |  | (2,029) |  | — |  | 34 |
Q1 2023 action |  |  |  |  |
Employee separation payments | — |  | 4,253 |  | (3,832) |  | — |  | 421 |
Non-cash compensation | — |  | 1,066 |  | — |  | (1,066) |  | — |
2022 action |  |  |  |  |
Employee separation payments | 304 |  | 13 |  | (317) |  | — |  | — |
| $ | 304 |  | $ | 8,283 |  | $ | (6,607) |  | $ | (1,271) |  | $ | 709 |
| Accrued Balance at December 31, 2021 | Income Statement Impact | Payments | Non-Cash | Accrued Balance at December 31, 2022
2022 actions |  |  |  |  |
Employee separation payments | $ | — |  | $ | 3,345 |  | $ | (3,041) |  | $ | — |  | $ | 304 |
Non-cash compensation | — |  | 1,083 |  | — |  | (1,083) |  | — |
| $ | — |  | $ | 4,428 |  | $ | (3,041) |  | $ | (1,083) |  | $ | 304 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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