XML 15 R2.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 14,076 $ 21,425
Accounts receivable, net of allowance for credit losses of $6,545 and $6,328 at March 31, 2025 and December 31, 2024, respectively 15,800 18,154
Inventory 220 195
Prepaid expenses and other current assets 5,970 4,888
Total current assets before funds held for clients 36,066 44,662
Funds held for clients 257,019 192,615
Total current assets 293,085 237,277
Property and equipment, net 20,999 19,669
Goodwill 94,724 94,724
Intangible assets, net 73,003 69,114
Operating lease assets, net 4,403 4,041
Other assets, net 12,727 11,813
Total assets 498,941 436,638
Current liabilities:    
Current portion of notes payable 7,948 7,008
Accounts payable 2,475 1,364
Accrued compensation and benefits 2,911 4,485
Operating lease liabilities, current 1,432 1,438
Other accrued liabilities 6,071 6,600
Deferred revenue 4,662 8,363
Total current liabilities before client fund obligations 25,499 29,258
Client fund obligations 258,586 194,378
Total current liabilities 284,085 223,636
Long-term liabilities:    
Deferred revenue 3,321 3,430
Deferred tax liability 2,903 2,612
Notes payable, net of current portion 6,172 5,709
Operating lease liabilities, noncurrent 3,892 3,578
Other liabilities 905 358
Total long-term liabilities 17,193 15,687
Total liabilities 301,278 239,323
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; 27,122 and 26,671 shares issued, 27,122 and 26,671 shares outstanding at March 31, 2025 and December 31, 2024, respectively 271 267
Treasury stock at cost, zero(1) shares at March 31, 2025 and December 31, 2024 0 0
Additional paid-in capital 507,149 504,849
Accumulated deficit (309,624) (307,226)
Accumulated other comprehensive loss (133) (575)
Total stockholders’ equity 197,663 197,315
Total liabilities and stockholders’ equity $ 498,941 $ 436,638
Common stock, shares authorized (in shares) 44,000 44,000
Treasury stock, common (in shares) [1] 0 0
[1]   (1) The aggregate Treasury stock of prior repurchases of our own common stock was retired and subsequently issued effective January 1, 2024. See the Condensed
           Consolidated Statement of Changes in Stockholders' Equity for the impact of this transaction.