Discontinued operations (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

The following financial information presents the results of operations of red violet for the three and nine months ended September 30, 2018 and 2017:



	Three Months Ended September 30,					Nine Months Ended September 30,
(In thousands)	2018		2017			2018			2017
Major classes of line items constituting loss from discontinued operations:
Revenue	—		$	2,306		$	3,325		$	5,871
Cost of revenue (exclusive of depreciation and amortization)	—		1,955			2,017			5,199
Sales and marketing expenses	—		1,175			1,089			3,158
General and administrative expenses	—		2,222			1,852			15,150
Depreciation and amortization	—		288			451			724
Loss from operations of discontinued operations, net of $0 income taxes	—		(3,334		)	(2,084		)	(18,360		)
Loss on disposal of discontinued operations, net of $0 income taxes	—		—			(19,040		)	—
Net loss from discontinued operations	$	—	$	(3,334	)	$	(21,124	)	$	(18,360	)

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 nine months ended September 30, 2018, as presented below. Of this amount, an aggregate of $16,030 represents non-cash charges.



	Three Months Ended		Nine Months Ended
(In thousands)	September 30, 2018		September 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 previously outstanding but unvested 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 reclassified carrying amounts of assets and liabilities of red violet into corresponding assets and liabilities of discontinued operations 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, net	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