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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 46,845 $ 27,792
Accounts receivable, net of allowance for doubtful accounts of $583 and $425 at June 30, 2018 and December 31, 2017, respectively 18,126 13,361
Inventory 1,911 509
Prepaid expenses and other current assets 3,547 2,588
Total current assets before funds held for clients 70,429 44,250
Funds held for clients 48,856 42,328
Total current assets 119,285 86,578
Property and equipment, net 6,812 5,217
Goodwill 96,660 77,348
Intangible assets, net 63,172 33,554
Other assets 2,272 614
Total assets 288,201 203,311
Current liabilities:    
Current portion of notes payable 5,196 8,895
Revolving line of credit 2,161 0
Accounts payable 2,913 1,912
Accrued compensation and benefits 2,582 2,477
Other accrued liabilities 2,480 862
Deferred revenue 12,229 13,078
Total current liabilities before client fund obligations 27,561 27,224
Client fund obligations 49,700 42,328
Total current liabilities 77,261 69,552
Long-term liabilities:    
Deferred revenue 1,036 1,125
Deferred tax liability 2,369 1,070
Notes payable, net of current portion and debt issuance cost 106,420 66,973
Other liabilities 1,029 817
Total long-term liabilities 110,854 69,985
Total liabilities 188,115 139,537
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; 15,382 and 12,876 shares issued, 14,998 and 12,492 shares outstanding at June 30, 2018 and December 31, 2017, respectively 154 129
Treasury stock at cost, 384 shares at June 30, 2018 and December 31, 2017 (5,017) (5,017)
Additional paid-in capital 387,234 346,322
Accumulated deficit (281,788) (277,597)
Accumulated other comprehensive loss (497) (63)
Total stockholders’ equity 100,086 63,774
Total liabilities and stockholders’ equity $ 288,201 $ 203,311