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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 25,808 $ 27,792
Accounts receivable, net of allowance for doubtful accounts of $465 and $425 at March 31, 2018 and December 31, 2017, respectively 13,881 13,361
Inventory 719 509
Prepaid expenses and other current assets 3,418 2,588
Total current assets before funds held for clients 43,826 44,250
Funds held for clients 66,773 42,328
Total current assets 110,599 86,578
Property and equipment, net 6,308 5,217
Goodwill 90,998 77,348
Intangible assets, net 48,665 33,554
Other assets 15,234 614
Total assets 271,804 203,311
Current liabilities:    
Current portion of notes payable 7,816 8,895
Revolving line of credit 2,379 0
Accounts payable 2,743 1,912
Accrued compensation and benefits 3,236 2,477
Other accrued liabilities 1,832 862
Deferred revenue 12,152 13,078
Total current liabilities before client fund obligations 30,158 27,224
Client fund obligations 66,773 42,328
Total current liabilities 96,931 69,552
Long-term liabilities:    
Deferred revenue 1,074 1,125
Notes payable, net of current portion and debt issuance cost 106,772 66,973
Other liabilities 2,354 1,887
Total long-term liabilities 110,200 69,985
Total liabilities 207,131 139,537
Stockholders’ equity:    
Preferred stock, $.01 par value; 1,500 shares authorized; none issued or outstanding 0 0
Common stock, $.01 par value; 22,000 and 11,000 shares authorized; 12,968 and 12,876 shares issued, 12,584 and 12,492 shares outstanding at March 31, 2018 and December 31, 2017, respectively 130 129
Treasury stock at cost, 384 shares at March 31, 2018 and December 31, 2017 (5,017) (5,017)
Additional paid-in capital 347,640 346,322
Accumulated deficit (278,020) (277,597)
Accumulated other comprehensive loss (60) (63)
Total stockholders’ equity 64,673 63,774
Total liabilities and stockholders’ equity $ 271,804 $ 203,311