XML 20 R3.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 21,425 $ 30,317
Accounts receivable, net of allowance for credit losses of $6,328 and $4,787 at December 31, 2024, and December 31, 2023, respectively 18,154 14,202
Inventory 195 155
Prepaid expenses and other current assets 4,888 3,471
Total current assets before funds held for clients 44,662 48,145
Funds held for clients 192,615 219,075
Total current assets 237,277 267,220
Property and equipment, net 19,669 14,517
Goodwill 94,724 86,011
Intangible assets, net 69,114 62,082
Operating lease assets, net 4,041 4,991
Other assets, net 11,813 9,047
Total assets 436,638 443,868
Current liabilities:    
Current portion of notes payable 7,008 27
Accounts payable 1,364 2,570
Accrued compensation and benefits 4,485 6,519
Operating lease liabilities, current 1,438 1,490
Other accrued liabilities 6,600 3,862
Deferred revenue 8,363 6,853
Total current liabilities before client fund obligations 29,258 21,321
Client fund obligations 194,378 220,019
Total current liabilities 223,636 241,340
Long-term liabilities:    
Deferred revenue 3,430 16
Deferred tax liability 2,612 1,728
Notes payable, net of current portion 5,709 4,282
Operating lease liabilities, noncurrent 3,578 4,638
Other liabilities 358 209
Total long-term liabilities 15,687 10,873
Total liabilities 239,323 252,213
Commitments and Contingencies
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; 26,671 and 25,382 shares issued, 26,671 and 24,998 shares outstanding at December 31, 2024, and December 31, 2023, respectively 267 254
Treasury stock at cost, zero(1) and 384 shares at December 31, 2024, and December 31, 2023, respectively 0 (5,017)
Additional paid-in capital 504,849 487,973
Accumulated deficit (307,226) (290,440)
Accumulated other comprehensive loss (575) (1,115)
Total stockholders’ equity 197,315 191,655
Total liabilities and stockholders’ equity $ 436,638 $ 443,868