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Discontinued Operations | 3 Months Ended
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Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On March 31, 2022, the Company completed the sale of CES to August Mack in accordance with the Asset Purchase Agreement for approximately $1.4 million of total consideration, composed of $1.0 million in cash and $0.4 million of cash held in escrow that is subject to net working capital and other adjustments. The Company executed this divestiture to enhance its focus and pursue continued growth initiatives for its core asset management business. The following table reconciles major line items constituting pretax income (loss) from discontinued operations to net income (loss) from discontinued operations as presented in the consolidated statements of operations (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Revenue |  |  |  |  | $ | — |  |  | $ | 1,460 |
Cost of revenue |  |  |  |  | — |  |  | (1,173) |
Selling, general, and administrative |  |  |  |  | — |  |  | (714) |
Other income (expense) |  |  |  |  | — |  |  | 150 |
Pre-tax income (loss) from discontinued operations |  |  |  |  | — |  |  | (277) |
Provision for (benefit from) income tax |  |  |  |  | — |  |  | (10) |
Net income (loss) from discontinued operations |  |  |  |  | $ | — |  |  | $ | (267) |
The Company recognized a net loss of $0.2 million on the divestiture of CES, calculated by comparing the final adjusted purchase price to the carrying value of the net assets sold in the transaction as of March 31, 2022. These amounts reflect the finalized transaction costs and net working capital adjustments

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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