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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 15,444 $ 27,792
Accounts and note receivable, net of allowance for doubtful accounts of $1,467 and $425 at December 31, 2018 and December 31, 2017, respectively 16,028 13,361
Inventory 3,117 509
Prepaid expenses and other current assets 3,120 2,588
Total current assets before funds held for clients 37,709 44,250
Funds held for clients 122,206 42,328
Total current assets 159,915 86,578
Property and equipment, net 8,948 5,217
Goodwill 111,387 77,348
Intangible assets, net 76,760 33,554
Other assets 4,090 614
Total assets 361,100 203,311
Current liabilities:    
Current portion of notes payable 4,733 8,895
Accounts payable 3,662 1,912
Accrued compensation and benefits 2,824 2,477
Other accrued liabilities 2,234 862
Deferred revenue 11,849 13,078
Total current liabilities before client fund obligations 25,302 27,224
Client fund obligations 123,170 42,328
Total current liabilities 148,472 69,552
Long-term liabilities:    
Deferred revenue 876 1,125
Deferred tax liability 1,566 1,070
Notes payable, net of current portion and debt issuance cost 107,229 66,973
Other liabilities 439 817
Total long-term liabilities 110,110 69,985
Total liabilities 258,582 139,537
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 22,000 shares authorized; 15,666 and 12,876 shares issued, 15,282 and 12,492 shares outstanding at December 31, 2018 and December 31, 2017, respectively 157 129
Treasury stock at cost, 384 shares at December 31, 2018 and December 31, 2017 (5,017) (5,017)
Additional paid-in capital 391,927 346,322
Accumulated deficit (283,643) (277,597)
Accumulated other comprehensive income (loss) (906) (63)
Total stockholders’ equity 102,518 63,774
Total liabilities and stockholders’ equity $ 361,100 $ 203,311