XML 21 R3.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash, cash equivalents, and restricted cash $ 30,317 $ 17,010
Accounts receivable, net of allowance for credit losses of $4,787 and $3,248 at December 31, 2023 and December 31, 2022, respectively 14,202 12,123
Inventory 155 251
Prepaid expenses and other current assets 3,471 10,304
Total current assets before funds held for clients 48,145 39,688
Funds held for clients 219,075 203,588
Total current assets 267,220 243,276
Property and equipment, net 14,517 11,439
Goodwill 86,011 86,011
Intangible assets, net 62,082 66,594
Operating lease assets, net 4,991 7,065
Other assets, net 9,047 5,523
Total assets 443,868 419,908
Current liabilities:    
Current portion of notes payable 27 4,106
Accounts payable 2,570 2,194
Accrued compensation and benefits 6,519 5,791
Operating lease liabilities, current 1,490 1,860
Other accrued liabilities 3,862 3,728
Contingent purchase consideration 0 2,955
Deferred revenue 6,853 8,461
Total current liabilities before client fund obligations 21,321 29,095
Client fund obligations 220,019 206,088
Total current liabilities 241,340 235,183
Long-term liabilities:    
Deferred revenue 16 788
Deferred tax liability 1,728 1,503
Notes payable, net of current portion 4,282 30,795
Operating lease liabilities, noncurrent 4,638 6,459
Other liabilities 209 114
Total long-term liabilities 10,873 39,659
Total liabilities 252,213 274,842
Stockholders’ equity:    
Preferred stock, $0.01 par value; 1,500 shares authorized; none issued or outstanding 0 0
Common stock, $0.01 par value; 44,000 shares authorized; 25,382 and 20,628 shares issued, 24,998 and 20,244 shares outstanding at December 31, 2023 and December 31, 2022, respectively 254 206
Treasury stock at cost, 384 shares at December 31, 2023 and December 31, 2022 (5,017) (5,017)
Additional paid-in capital 487,973 433,586
Accumulated deficit (290,440) (281,226)
Accumulated other comprehensive loss (1,115) (2,483)
Total stockholders’ equity 191,655 145,066
Total liabilities and stockholders’ equity $ 443,868 $ 419,908
Common stock, shares authorized 44,000 44,000
Treasury Stock, Common, Shares 384 384