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Discontinued Operations and Held for Sale | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Held for Sale | Discontinued Operations and Held for Sale As noted in Note 1 – Nature of Business and Significant Accounting Policies, on September 16, 2024, the Company entered into the Purchase Agreement to sell its Telematics Business. On November 27, 2024, the Company completed the sale of its Telematics Business. The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the Telematics Business. The following table summarizes Income from discontinued operations, net of tax included in the Condensed Consolidated Statements of Operations and Comprehensive Income for the three and six months end ed June 30, 2025 and 2024 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Services and other revenues | $ | — |  |  | $ | 7,529 |  |  | $ | — |  |  | $ | 15,033 |
Services and other cost of revenues | — |  |  | 3,298 |  |  | — |  |  | 6,654 |
Gross profit from discontinued operations | — |  |  | 4,231 |  |  | — |  |  | 8,379 |
Operating costs and expenses: |  |  |  |  |  |  |
Research and development | — |  |  | 313 |  |  | — |  |  | 674 |
Sales and marketing | — |  |  | 1,179 |  |  | — |  |  | 2,336 |
General and administrative | — |  |  | 1,887 |  |  | — |  |  | 2,915 |
Depreciation and amortization | — |  |  | 357 |  |  | — |  |  | 700 |
Total operating costs and expenses | — |  |  | 3,736 |  |  | — |  |  | 6,625 |
Operating income from discontinued operations | — |  |  | 495 |  |  | — |  |  | 1,754 |
Other (expense) income: |  |  |  |  |  |  |
Interest income, net | — |  |  | 2 |  |  | — |  |  | 9 |
Other income (expense), net | — |  |  | 236 |  |  | — |  |  | 251 |
Income from discontinued operations before income taxes | — |  |  | 733 |  |  | — |  |  | 2,014 |
Income tax provision | — |  |  | 188 |  |  | 400 |  |  | 408 |
Income (loss) from discontinued operations, net of tax | $ | — |  |  | $ | 545 |  |  | $ | (400) |  |  | $ | 1,606 |
Income taxes related to discontinued operations in the six months ended June 30, 2025 relate to the deregistration process for the Company’s remaining subsidiaries in South Africa, which do not have operations. As the sale of the Telematics Business was completed on November 27, 2024, there were no assets or liabilities held for sale as of either June 30, 2025 or December 31, 2024.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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