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Discontinued operations (Tables) | 6 Months Ended
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Jun. 30, 2018
Discontinued Operations And Disposal Groups [Abstract] |
Disposal of Discontinued Activity | The following financial information presents the results of operations of red violet for the three and six months ended June 30, 2018 and 2017:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In thousands) |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Major classes of line items constituting loss from discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  |  | - |  |  | $ | 1,993 |  |  | $ | 3,325 |  |  | $ | 3,565 |
Cost of revenue (exclusive of depreciation and amortization) |  |  | - |  |  |  | 1,843 |  |  |  | 2,017 |  |  |  | 3,244 |
Sales and marketing expenses |  |  | - |  |  |  | 1,165 |  |  |  | 1,089 |  |  |  | 1,983 |
General and administrative expenses |  |  | - |  |  |  | 10,898 |  |  |  | 1,852 |  |  |  | 12,928 |
Depreciation and amortization |  |  | - |  |  |  | 220 |  |  |  | 451 |  |  |  | 436 |
Loss from operations of discontinued operations, net of $0 income taxes |  |  | - |  |  |  | (12,133 | ) |  |  | (2,084 | ) |  |  | (15,026 | )
Loss on disposal of discontinued operations, net of $0 income taxes |  |  | - |  |  |  | - |  |  |  | (19,040 | ) |  |  | - |
Net loss from discontinued operations |  | $ | - |  |  | $ | (12,133 | ) |  | $ | (21,124 | ) |  | $ | (15,026 | )
Schedule of Gain (Loss) on Disposal Activity | Included in the net loss from discontinued operations is a loss on disposal of discontinued operations of $19,040 for the six months ended June 30, 2018, as presented below. Among the total loss on disposal of discontinued operations, an aggregate of $16,030 were non-cash charges.
|  | Three Months Ended |  |  | Six Months Ended |
(In thousands) |  | June 30, 2018 |  |  | June 30, 2018 |
Share-based compensation expense (1) |  | $ | - |  |  | $ | 15,548 |
Write-off of unamortized debt costs (2) |  |  | - |  |  |  | 284 |
Write-off of certain prepaid expenses |  |  | - |  |  |  | 198 |
Spin-off related professional fees |  |  | - |  |  |  | 2,012 |
Spin-off related employee compensation |  |  | - |  |  |  | 998 |
Loss on disposal of discontinued operations |  | $ | - |  |  | $ | 19,040 |
(1) | As discussed and defined in Note 9, “Share-based compensation,” share-based compensation expense represents non-cash expense in connection with the Acceleration of certain outstanding stock options, RSUs and restricted stock and additional Spin-off Grants, in connection with the Spin-off.
(2) | As discussed in Note 6, “Long-term debt, net,” in connection with the Spin-off, the Company repaid the promissory notes to certain shareholders, which resulted in a write-off of unamortized debt costs of $284.
Schedule of Reconciliation of Assets and Liabilities of Discontinued Operations | The Company also reclassified carrying amounts of assets and liabilities of red violet into corresponding assets and liabilities of discontinued operation as of December 31, 2017. A reconciliation is shown below:
(In thousands) |  | December 31, 2017 |
Carrying amounts of the major classes of assets included in discontinued operations: |  |  |  |
Cash and cash equivalents |  | $ | 65 |
Accounts receivable |  |  | 1,650 |
Prepaid expenses and other current assets |  |  | 559 |
Current assets of discontinued operations |  |  | 2,274 |
Property and equipment, net |  |  | 1,091 |
Intangible assets, net |  |  | 15,353 |
Goodwill |  |  | 6,465 |
Other non-current assets |  |  | 1,180 |
Non-current assets of discontinued operations |  |  | 24,089 |
Total assets of discontinued operations |  | $ | 26,363 |
Carrying amounts of the major classes of liabilities included in discontinued operations: |  |  |  |
Trade accounts payable |  | $ | 919 |
Accrued expenses and other current liabilities |  |  | 6,437 |
Deferred revenue |  |  | 33 |
Total liabilities of discontinued operations |  | $ | 7,389 |

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