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Description of the Company and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2020

Description of the Company and Basis of Presentation

Revised Consolidated Statements

Condensed Consolidated Balance Sheet

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​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2019
in thousands		As Previously Reported			Adjustments		​	As Revised
Contract assets	​	$	7,058	​	$	(1,818)	​	$	5,240
Total current assets	​	​	211,619	​	​	(1,818)	​	​	209,801
Contract assets - non-current	​	​	3,565	​	​	(210)	​	​	3,355
Total assets	​	​	384,570	​	​	(2,028)	​	​	382,542
​	​	​	​	​	​	​	​	​	​
Short-term income taxes payable	​	​	7,711	​	​	(301)	​	​	7,410
Total current liabilities	​	​	74,113	​	​	(301)	​	​	73,812
Long-term deferred revenue	​	​	15,259	​	​	—	​	​	15,259
Long-term income taxes payable	​	​	6,958	​	​	—	​	​	6,958
Total liabilities	​	​	120,549	​	​	(301)	​	​	120,248
​	​	​	​	​	​	​	​	​	​
Accumulated income	​	​	181,167	​	​	(1,727)	​	​	179,440
Accumulated other comprehensive loss	​	​	​	​	​	—	​	​	​
Total stockholders' equity	​	​	264,021	​	​	(1,727)	​	​	262,294
Total liabilities and stockholders' equity	​	​	384,570	​	​	(2,028)	​	​	382,542

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Condensed Consolidated Statements of Operations (Unaudited)

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Three Months ended September 30, 2019

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Nine Months ended September 30, 2019

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As Previously Reported

Adjustments

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As Revised

As Previously Reported

Adjustments

​

As Revised

Revenue

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​

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Product and license

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$

61,181

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$

34

​

$

61,215

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$

133,159

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$

(484)

​

$

132,675

Services and other

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18,544

​

​

(68)

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18,476

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50,408

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(130)

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50,278

Total revenue

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79,725

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​

(34)

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79,691

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183,567

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(614)

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182,953

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Gross Profit

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53,056

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(34)

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53,022

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122,979

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(614)

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122,365

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Operating income

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17,119

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(34)

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17,085

​

9,381

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(614)

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8,767

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Income before income taxes

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15,736

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(34)

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15,702

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8,102

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(614)

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7,488

Provision for income taxes

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3,864

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(9)

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3,855

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4,363

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(155)

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4,208

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Net Income

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11,872

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​

(25)

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11,847

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3,739

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(459)

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3,280

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Condensed Consolidated Statements of Comprehensive Loss (Unaudited)

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Three Months ended September 30, 2019

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Nine Months ended September 30, 2019

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​

As Previously Reported

Adjustments

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As Revised

As Previously Reported

Adjustments

​

As Revised

Net income

​

$

11,872

​

$

(25)

​

$

11,847

​

$

3,739

​

$

(459)

​

$

3,280

Comprehensive income (loss)

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​

8,838

​

​

(25)

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​

8,813

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​

249

​

​

(459)

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​

(210)

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Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)

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​	​	​	​	​	​	​	​	​	​
​	Total Stockholders' Equity
in thousands		As Previously Reported			Adjustments		​	As Revised
Balance at December 31, 2018	​	$	252,441	​	$	(802)	​	$	251,639
Net income (loss)	​	​	(5,671)	​	​	(385)	​	​	(6,056)
Balance at March 31, 2019	​	​	247,958	​	​	(1,187)	​	​	246,771
Net income (loss)	​	​	(2,461)	​	​	(50)	​	​	(2,511)
Balance at June 30, 2019	​	​	244,815	​	​	(1,237)	​	​	243,578
Net income (loss)	​	​	11,872	​	​	(25)	​	​	11,847
Balance at September 30, 2019	​	​	254,075	​	​	(1,262)	​	​	252,813
​	​	​	​	​	​	​	​	​	​
Balance at December 31, 2019	​	$	264,021	​	$	(1,727)	​	$	262,294
Net income (loss)	​	​	98	​	​	(94)	​	​	4
Balance at March 31, 2020	​	​	260,639	​	​	(1,821)	​	​	258,818

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Condensed Consolidated Statements of Cash Flows (Unaudited)

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​	​	​	​	​	​	​	​	​	​
​	​	Nine Months ended September 30, 2019
in thousands	​	As Previously Reported			Adjustments		​	As Revised
Cash flows from operating activities:		​			​		​	​	​
Net income	​	$	3,739	​	$	(459)	​	$	3,280
Changes in operating assets and liabilities:	​			​		​	​
Contract assets	​		(74)	​		614	​		540
Income taxes payable	​	​	(2,587)	​	​	(155)	​	​	(2,742)
Net cash used in operating activities	​		(13,662)	​		—	​		(13,662)

​

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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