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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 11,248 $ 30,317
Accounts receivable, net of allowance for credit losses of $6,150 and $4,787 at September 30, 2024 and December 31, 2023, respectively 17,233 14,202
Inventory 233 155
Prepaid expenses and other current assets 4,586 3,471
Total current assets before funds held for clients 33,300 48,145
Funds held for clients 193,589 219,075
Total current assets 226,889 267,220
Property and equipment, net 18,490 14,517
Goodwill 94,724 86,011
Intangible assets, net 73,429 62,082
Operating lease assets, net 4,401 4,991
Other assets, net 10,176 9,047
Total assets 428,109 443,868
Current liabilities:    
Current portion of notes payable 0 27
Accounts payable 1,317 2,570
Accrued compensation and benefits 4,277 6,519
Operating lease liabilities, current 1,600 1,490
Other accrued liabilities 8,287 3,862
Deferred revenue 3,029 6,853
Total current liabilities before client fund obligations 18,510 21,321
Client fund obligations 193,951 220,019
Total current liabilities 212,461 241,340
Long-term liabilities:    
Deferred revenue 2,276 16
Deferred tax liability 2,116 1,728
Notes payable, net of current portion 7,506 4,282
Operating lease liabilities, noncurrent 3,832 4,638
Other liabilities 765 209
Total long-term liabilities 16,495 10,873
Total liabilities 228,956 252,213
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; 26,540 and 25,382 shares issued, 26,540 and 24,998 shares outstanding at September 30, 2024 and December 31, 2023, respectively 265 254
Treasury stock at cost, zero(1) and $384 shares at September 30, 2024 and December 31, 2023, respectively 0 (5,017)
Additional paid-in capital 502,920 487,973
Accumulated deficit (304,022) (290,440)
Accumulated other comprehensive loss (10) (1,115)
Total stockholders’ equity 199,153 191,655
Total liabilities and stockholders’ equity $ 428,109 $ 443,868