XML 15 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 29,259 $ 28,826
Accounts receivable, net of allowance for doubtful accounts of $885 and $904 at June 30, 2020 and December 31, 2019, respectively 5,541 4,808
Inventory 550 656
Prepaid expenses and other current assets 6,080 12,218
Total current assets before funds held for clients 41,430 46,508
Funds held for clients 112,581 137,935
Total current assets 154,011 184,443
Property and equipment, net 8,505 7,867
Goodwill 68,697 68,697
Intangible assets, net 60,477 63,850
Operating lease assets, net 7,215 6,963
Other assets, net 3,693 3,224
Total assets 302,598 335,044
Current liabilities:    
Current portion of notes payable 15,695 2,571
Accounts payable 2,128 1,736
Accrued compensation and benefits 3,205 3,424
Operating lease liabilities, current 1,703 1,575
Other accrued liabilities 4,144 6,556
Deferred revenue 3,766 5,500
Total current liabilities before client fund obligations 30,641 21,362
Client fund obligations 112,857 145,227
Total current liabilities 143,498 166,589
Long-term liabilities:    
Deferred revenue 214 322
Deferred tax liability 407 336
Notes payable, net of current portion 17,860 24,142
Operating lease liabilities, noncurrent 6,310 5,937
Other liabilities 223 139
Total long-term liabilities 25,014 30,876
Total liabilities 168,512 197,465
Stockholders’ equity:    
Preferred stock, $.01 par value; 1,500 shares authorized; none issued or outstanding 0 0
Common stock, $.01 par value; 44,000 and 22,000 shares authorized; 16,225 and 16,098 shares issued, 15,841 and 15,714 shares outstanding at June 30, 2020 and December 31, 2019, respectively 162 161
Treasury stock at cost, 384 shares at June 30, 2020 and December 31, 2019 (5,017) (5,017)
Additional paid-in capital 397,692 396,102
Accumulated deficit (259,353) (253,642)
Accumulated other comprehensive income (loss) 602 (25)
Total stockholders’ equity 134,086 137,579
Total liabilities and stockholders’ equity $ 302,598 $ 335,044