v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 19,221 $ 25,244
Accounts receivable, net of allowance for credit losses of $7,610 and $7,206 at March 31, 2026 and December 31, 2025, respectively 13,467 15,859
Inventory 2,647 2,826
Prepaid expenses and other current assets 7,251 6,329
Total current assets before funds held for clients 42,586 50,258
Funds held for clients 216,514 228,111
Total current assets 259,100 278,369
Property and equipment, net 29,566 27,810
Goodwill 115,759 115,759
Intangible assets, net 88,788 87,911
Operating lease assets, net 5,653 6,028
Other assets, net 19,812 15,542
Total assets 518,678 531,419
Current liabilities:    
Current portion of notes payable 6,487 4,344
Accounts payable 2,002 2,174
Accrued compensation and benefits 4,426 4,723
Lease liabilities, current 2,018 1,956
Other accrued liabilities 7,008 6,422
Deferred revenue 7,036 11,622
Total current liabilities before client fund obligations 28,977 31,241
Client fund obligations 217,305 228,482
Total current liabilities 246,282 259,723
Long-term liabilities:    
Deferred revenue 1,582 1,909
Deferred tax liability 3,407 3,264
Notes payable, net of current portion 62,346 63,282
Lease liabilities, noncurrent 4,736 5,221
Other liabilities 202 224
Total long-term liabilities 72,273 73,900
Total liabilities 318,555 333,623
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; 28,637 and 28,076 shares issued, 28,637 and 28,076 shares outstanding at March 31, 2026 and December 31, 2025, respectively 286 281
Treasury stock at cost, zero(1) shares at March 31, 2026 and December 31, 2025 0 0
Additional paid-in capital 519,717 517,432
Accumulated deficit (319,727) (320,352)
Accumulated other comprehensive income (loss) (153) 435
Total stockholders’ equity 200,123 197,796
Total liabilities and stockholders’ equity $ 518,678 $ 531,419
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.