Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 28, 2020 | Jun. 30, 2019 | |
Document Information Line Items | |||
Entity Registrant Name | GLOBALSCAPE INC | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 18,709,064 | ||
Entity Public Float | $ 120,695,655 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0001112920 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 4,702 | $ 9,173 |
Accounts receivable, net | 7,239 | 6,657 |
Federal income tax receivable | 1,759 | 0 |
Prepaid expenses and other | 1,366 | 1,521 |
Total current assets | 15,066 | 17,351 |
Capitalized software development costs, net | 2,650 | 3,133 |
Goodwill | 12,712 | 12,712 |
Deferred tax asset, net | 493 | 395 |
Property and equipment, net | 274 | 399 |
Right of use assets | 2,905 | 0 |
Other assets | 459 | 502 |
Total assets | 34,559 | 34,492 |
Current liabilities: | ||
Accounts payable | 746 | 820 |
Accrued expenses | 1,598 | 1,214 |
Income tax payable | 0 | 148 |
Deferred revenue | 15,683 | 13,301 |
Long term debt, current portion | 4,575 | 0 |
Total current liabilities | 22,602 | 15,483 |
Deferred revenue, non-current portion | 2,572 | 2,936 |
Lease liability | 2,900 | 0 |
Long term debt, non-current portion | 42,745 | 0 |
Other long term liabilities | 24 | 117 |
Commitments and contingencies | ||
Stockholders’ equity (deficit): | ||
Preferred stock, par value $0.001 per share, 10,000,000 authorized, no shares issued or outstanding | 0 | 0 |
Common stock, par value $0.001 per share, 40,000,000 authorized, 23,890,890 and 22,441,860 shares issued at December 31, 2019 and December 31, 2018, respectively | 24 | 22 |
Additional paid-in capital | 32,156 | 25,584 |
Treasury stock, 5,379,500 and 5,310,942 shares, at cost, at December 31, 2019 and December 31, 2018, respectively | (23,087) | (22,712) |
Retained earnings (deficit) | (45,377) | 13,062 |
Total stockholders’ equity (deficit) | (36,284) | 15,956 |
Total liabilities and stockholders’ equity (deficit) | $ 34,559 | $ 34,492 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized | 40,000,000 | 40,000,000 |
Common stock, issued | 23,890,890 | 22,441,860 |
Treasury stock, shares | 5,379,500 | 5,310,942 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Costs of revenues | ||
Gross profit | $ 34,213 | $ 28,180 |
Operating expenses | ||
Sales and marketing | 8,331 | 10,009 |
General and administrative | 7,495 | 6,382 |
Legal and Professional | 1,520 | 4,623 |
Severance | 15 | 488 |
Research and development | 1,355 | 1,883 |
Total operating expenses | 18,716 | 23,385 |
Income (loss) from operations | 15,497 | 4,795 |
Other income (expense): | ||
Interest expense | (405) | 0 |
Interest income | 140 | 86 |
Total other income (expense) | (265) | 86 |
Income (loss) before income taxes | 15,232 | 4,881 |
Income tax expense (benefit) | 1,965 | 1,227 |
Net income (loss) | 13,267 | 3,654 |
Comprehensive income (loss) | $ 13,267 | $ 3,654 |
Basic (in Dollars per share) | $ 0.76 | $ 0.18 |
Diluted (in Dollars per share) | $ 0.72 | $ 0.17 |
Basic (in Shares) | 17,424 | 20,721 |
Diluted (in Shares) | 18,525 | 21,017 |
Software and Licenses [Member] | ||
Operating revenues: | ||
Revenues | $ 11,243 | $ 10,512 |
Costs of revenues | ||
Cost of revenues | 2,682 | 2,978 |
Maintenance [Member] | ||
Operating revenues: | ||
Revenues | 26,318 | 21,587 |
Costs of revenues | ||
Cost of revenues | 2,292 | 2,093 |
Professional Services [Member] | ||
Operating revenues: | ||
Revenues | 2,782 | 2,317 |
Total Revenues | 40,343 | 34,416 |
Costs of revenues | ||
Cost of revenues | 1,156 | 1,165 |
Total cost of revenues | $ 6,130 | $ 6,236 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2017 | $ 22 | $ 23,793 | $ (1,452) | $ 9,353 | $ 31,716 |
Balance (in Shares) at Dec. 31, 2017 | 22,196,712 | ||||
Retained Earnings Adjustment due to ASC 606 | 979 | 979 | |||
Purchase of Treasury Stock | (21,260) | (21,260) | |||
Cancellation of Restricted Stock (in Shares) | (40,000) | ||||
Shares issued upon exercise of stock options | 522 | $ 522 | |||
Shares issued upon exercise of stock options (in Shares) | 205,148 | 205,148 | |||
Stock option cash settlement | $ 0 | ||||
Stock options | 1,055 | 1,055 | |||
Restricted stock | 214 | 214 | |||
Restricted stock (in Shares) | 80,000 | ||||
Common stock cash dividends | (924) | (924) | |||
Net income | 3,654 | 3,654 | |||
Balance at Dec. 31, 2018 | $ 22 | 25,584 | (22,712) | 13,062 | 15,956 |
Balance (in Shares) at Dec. 31, 2018 | 22,441,860 | ||||
Purchase of Treasury Stock | (375) | (375) | |||
Shares issued upon exercise of stock options | $ 2 | 4,602 | $ 4,604 | ||
Shares issued upon exercise of stock options (in Shares) | 1,329,030 | 1,329,030 | |||
Stock option cash settlement | (445) | $ (445) | |||
Stock options | 1,581 | 1,581 | |||
Restricted stock | 834 | 834 | |||
Restricted stock (in Shares) | 120,000 | ||||
Common stock cash dividends | (71,706) | (71,706) | |||
Net income | 13,267 | 13,267 | |||
Balance at Dec. 31, 2019 | $ 24 | $ 32,156 | $ (23,087) | $ (45,377) | $ (36,284) |
Balance (in Shares) at Dec. 31, 2019 | 23,890,890 |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Deficit) (Parentheticals) - $ / shares | Dec. 05, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Common stock cash dividends per share | $ 3.35 | $ 3.895 | $ 0.045 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 13,267,000 | $ 3,654,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Bad debt expense (recovery) | 63,000 | (88,000) |
Depreciation and amortization | 1,746,000 | 2,173,000 |
Stock-based compensation | 2,415,000 | 1,269,000 |
Amortization of debt issuance costs | 70,000 | 0 |
Deferred taxes | (98,000) | (4,000) |
Subtotal before changes in operating assets and liabilities | 17,463,000 | 7,004,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (645,000) | (644,000) |
Prepaid expenses and other | 155,000 | (216,000) |
Federal income taxes | (1,907,000) | 970,000 |
Operating lease right-of-use asset | 170,000 | 0 |
Other assets | 43,000 | 191,000 |
Accounts payable | (74,000) | (1,080,000) |
Accrued expenses | 384,000 | (457,000) |
Deferred revenues | 2,018,000 | (813,000) |
Operating lease liabilities | (175,000) | 0 |
Other long-term liabilities | (93,000) | (59,000) |
Net cash provided by operating activities | 17,339,000 | 4,896,000 |
Investing Activities: | ||
Software development costs | (1,074,000) | (1,276,000) |
Purchase of property and equipment | (64,000) | (162,000) |
Redemption of certificates of deposit | 0 | 15,794,000 |
Net cash provided by (used in) investing activities | (1,138,000) | 14,356,000 |
Financing Activities: | ||
Proceeds from exercise of stock options | 4,604,137 | 522,189 |
Stock option cash settlement | (445,000) | 0 |
Credit facility funding | 49,646,000 | 0 |
Payment of debt issuance costs | (1,771,000) | 0 |
Notes payable principal payments | (625,000) | 0 |
Purchase of treasury stock | (375,000) | (21,260,000) |
Dividends paid | (71,706,000) | (924,000) |
Net cash (used in) financing activities | (20,672,000) | (21,662,000) |
Net increase (decrease) in cash | (4,471,000) | (2,410,000) |
Cash at beginning of period | 9,173,000 | 11,583,000 |
Cash at end of period | 4,702,000 | 9,173,000 |
Interest | 335,000 | 0 |
Income taxes | 3,203,000 | 253,000 |
Supplemental disclosure of noncash activities: | ||
Right-of-use assets obtained in exchange for operating lease obligations | $ 3,075,000 | $ 0 |
Nature of Business
Nature of Business | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | 1. Nature of Business We provide secure information exchange capabilities for enterprises and consumers through the development and distribution of software, delivery of managed and hosted solutions, and provisioning of associated services. Our solution portfolio facilitates transmission of critical information such as financial data, medical records, client files, vendor files, personnel files, transaction activity, and other similar documents between diverse and geographically separated network infrastructures while supporting a range of information protection approaches to meet privacy and other security requirements. In addition to enabling secure, flexible transmission of critical information using servers, desktop and notebook computers, and a wide range of network-enabled mobile devices, our products also provide clients with the ability to monitor and audit file transfer activities. Our primary product is Enhanced File Transfer, or EFT. We have other products that complement our EFT product. Throughout these notes, unless otherwise noted, our references to 2019 and 2018 refer to the years ended December 31, 2019 and 2018, respectively. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2. Significant Accounting Policies Basis of Presentation We follow accounting standards set by the Financial Accounting Standards Board. This board sets GAAP, which we follow in preparing financial statements that report our financial position, results of operations, and sources and uses of cash. We also follow the reporting regulations of the SEC. The preparation of financial statements in accordance with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of our financial statements. It is possible the actual results could differ from these estimates and assumptions and could have a material effect on the reported amounts of our financial position and results of operations. Principles of Consolidation The accompanying consolidated financial statements of GlobalSCAPE, Inc. and its wholly-owned subsidiary (collectively referred to as “GlobalSCAPE”, the “Company” or “we”) are prepared in conformity with GAAP. All intercompany accounts and transactions have been eliminated. Revenue Recognition Products and Services We earn revenue by delivering the following software products and services: ● Perpetual software licenses under which clients install our products in their information systems environment on computers they manage, own or otherwise procure from a cloud services provider. Clients also deploy our products with cloud services providers in a BYOL environment. ● Cloud-based, hosted SaaS solutions that we sell on an ongoing subscription basis resulting in our earning recurring, monthly subscription and usage fees to access the service. ● Maintenance and support services, or M&S, that generally consist of telephone support and access to unspecified future software upgrades. ● Professional services for product integration and configuration that generally do not significantly modify our software products. We earn the majority of our revenue from the sale of perpetual software licenses and associated contracts for M&S. We recognize revenue when we have satisfied a performance obligation by transferring control over a product or delivering a service to a client. We measure revenue based upon the consideration set forth in an arrangement or contract with a client. The revenue recognition criteria we apply to each of our software products and services are as follows: ● Perpetual software licenses – These licenses grant a right to use our functional intellectual property. We recognize revenue at the point in time when we electronically deliver to our client the software license key that provides the ability to access and use our product. If our client is a reseller who will further transfer the ability to access and use our product to a third party under a separate arrangement that the reseller has with that third party, we recognize revenue at the time we deliver the software license key to the reseller since our contract is with the reseller. ● Cloud-based, hosted SaaS solutions – These solutions grant a right to access our functional intellectual property. We recognize revenue over time on a monthly basis as we deliver the services to which our clients subscribe. Revenue can include basic monthly fees to access the software and usage fees based upon the volume of certain resources the client consumes (such as volumes of storage or bandwidth). We are generally paid for these services on a month-to-month basis, but if a client pays us in advance for services we will deliver in the future, we record as deferred revenue the amount of such payment related to services we have not yet delivered. ● M&S – We provide these services to purchasers of perpetual software licenses under agreements with terms generally ranging from one to three years. We require up-front payment of our M&S fee in an amount that covers the entire term of the agreement. We record as deferred revenue amounts paid that relate to future periods during which we will provide the M&S service. We reduce deferred revenue and recognize revenue ratably in future periods as we deliver the M&S service. ● Professional services – We recognize revenue from these services when the services are completed. If we are paid in advance for these services, we record such payment as deferred revenue until we complete the services. The delivery of our software products and services generally does not involve any variable consideration, financing components or consideration payable to a client such as rebates or other incentives that reduce amounts owed to us by clients. Deferred Revenue Classification and Activity Deferred revenue related to services we will deliver within one year is presented as a current liability. Deferred revenue related to services that we will deliver more than one year into the future is presented as a non-current liability. The activity in our deferred revenue balances has been as follows ($in thousands): Year Ended December 31, 2019 2018 Deferred revenue, beginning of period $ 16,237 $ 17,050 Deferred revenue resulting from new contracts with clients 31,117 21,577 Deferred revenue at the beginning of the period that was amortized to revenue (24,945 ) (20,244 ) Deferred revenue arising during the period that was amortized to revenue (4,154 ) (2,146 ) Deferred revenue, end of period $ 18,255 $ 16,237 Multi-Element Transactions At the time clients purchase perpetual software licenses, they also typically purchase M&S although it is not mandatory. We do not sell separate M&S to subscribers to our SaaS solutions as M&S is provided as part of their SaaS subscription. Clients may also purchase professional services at the time they purchase perpetual software licenses or a SaaS subscription. Each of the components of these multi-element transactions is a separately identifiable performance obligation. For multi-element transactions, we allocate the transaction price to each performance obligation on a relative stand-alone selling price basis. We determine that stand-alone selling price for each item at the inception of the transaction involving these multiple elements. We sell, as stand-alone transactions, renewals of pre-existing M&S contracts, professional services to clients seeking assistance with products they have previously purchased from us, or SaaS subscriptions to clients not requiring any of our other products or services. Accordingly, we are able to estimate the stand-alone selling price of these items based upon our observation of those transactions. Since most of our sales of perpetual software licenses are part of multi-element transactions that also involve M&S and/or professional services, and because the selling price of those licenses can vary significantly among clients, we use the residual approach under FASB Accounting Standards Codification Top 606, or ASC 606, to estimate the selling price of perpetual software licenses in a multi-element transaction by reference to the total transaction price less the sum of the observable stand-alone selling prices of M&S and/or professional services. We allocate discounts proportionally to all of the components of a multi-element transaction. Sales Tax We collect sales tax on many of our transactions with clients as required under applicable law. We do not include sales tax collected in our revenue. We record it as a liability payable to taxing authorities. Allowance for Sales Returns We provide an allowance for sales returns. We estimate this allowance based upon our historical experience and the nature of recent transactions with clients. This amount is included in accrued liabilities in our consolidated balance sheet. Contract Assets We generally bill clients for professional services when we have fully delivered the services specified in the contract. We may incur costs in delivering the services prior to that time. Such costs are generally not material. Accordingly, we do not record a contract asset for professional service engagements in process but not yet billed. Incremental Costs of Obtaining a Contract to Deliver Goods and Services We incur incremental costs in the form of sales commissions paid to our sales personnel and royalties on certain products paid to third parties. These are costs we would not incur if we did not obtain a contract to deliver our goods and services. We account for these costs as follows: ● If the costs are associated with products and services for which we recognize revenue at a fixed point in time (primarily sales of perpetual software licenses and professional services), we expense these costs in full at the time we recognize that revenue. ● If the costs are associated with services for which we recognize revenue over time (primarily sales of M&S and SaaS subscriptions) for which we believe it is likely that the contract for those services will be renewed for additional terms in the future, provided we deem these costs to be recoverable, we record these costs as a deferred expense asset and amortize that cost to expense as follows: o For the portion of the cost that we determine benefits us primarily only over the term of the specific underlying contract currently in force (such as the term of an M&S contract), we recognize expense ratably each month over that term. o For the portion of the cost that we determine benefits us over an overall client relationship that is likely to span a period of time that is longer than an initial contract term (for example, an M&S contract renewed for multiple terms in the future), we recognize expense ratably monthly over the estimated life of the client relationship. Our activity in deferred costs of obtaining a contract to deliver goods and services has been as follows ($in thousands): Year Ended December 31, 2019 2018 Deferred cost, beginning of period $ 1,009 $ 1,240 Deferred cost resulting from new contracts with clients 812 674 Deferred cost amortized to expense (878 ) (905 ) Deferred cost, end of period $ 943 $ 1,009 We recorded $577,000 and $571,000 in prepaid and other current assets and $366,000 and $438,000 was recorded in noncurrent other assets in our consolidated balance sheet as of December 31, 2019 and 2018, respectively. Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities on our consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. On April 18, 2019, the Company signed a new operating lease for our existing office space location. The lease is for a period of 10 years at an average annual rent of $462,000 beginning May 1, 2019. We recorded a right-of-use asset and lease liability of approximately $3 million at the commencement of the lease. Cash and cash equivalents Cash and cash equivalents include all cash and highly liquid investments with original maturities of three months or less. Fair Value of Financial Instruments For financial assets and liabilities recorded at fair value on a recurring or non-recurring basis, fair value is the price we would receive to sell an asset, or pay to transfer a liability, in an orderly transaction with a market participant at the measurement date. In the absence of such data, fair value is estimated using internal information consistent with what market participants would use in a hypothetical transaction. In determining fair value, observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions; preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3: Significant inputs to the valuation model are unobservable. As of December 31, 2019, we did not have any assets measured at fair value on a recurring basis that would require disclosure based on the fair value hierarchy of valuation techniques. In addition, certain non-financial assets and liabilities are to be initially measured at fair value on a non-recurring basis. This includes items such as non-financial assets and liabilities initially measured at fair value in a business combination (but not measured at fair value in subsequent periods) and non-financial, long-lived assets measured at fair value for an impairment assessment. In general, non-financial assets and liabilities including goodwill, capitalized software and property and equipment are measured at fair value using Level 3 inputs, which result in management’s best estimate of fair value from the perspective of a market participant, when there is an indication of impairment and are recorded at fair value only when impairment is recognized. Our financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable and notes payable. The carrying amount of cash and cash equivalents, accounts receivable, and accounts payable, approximates fair value due to the short-term maturity of these instruments, all of which mature within 12 months. The carrying amount of our notes payable, including the current portion, as of December 31, 2019 was $49,375,000. This carrying value approximates fair value based on interest rates that are currently available to us for issuance of debt with similar terms and maturities. Property and Equipment Property and equipment is comprised of furniture and fixtures, software, computer equipment and leasehold improvements which are recorded at cost and depreciated using the straight-line method over their estimated useful lives. Furniture, fixtures and equipment have a useful life of five to seven years, computer equipment and software have a useful life of three years and leasehold improvements have a useful life that is the shorter of the term of the lease under which the improvements were made or the estimated useful life of the asset. Expenditures for maintenance and repairs are expensed as incurred. Goodwill Goodwill is not amortized. On at least an annual basis, we test goodwill for impairment at the reporting unit level using December 31 as the measurement date. We operate as a single reporting unit. When testing goodwill, we first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of our reporting unit is less than its carrying amount, including goodwill. In performing this qualitative assessment, we assess events and circumstances relevant to us including, but not limited to: ● Macroeconomic conditions. ● Industry and market considerations. ● Cost factors and trends for labor and other expenses of operating our business. ● Our overall financial performance and outlook for the future. ● Trends in the quoted market value and trading of our common stock. In considering these and other factors, we consider the extent to which any adverse events and circumstances identified could affect the comparison of our reporting unit’s fair value with its carrying amount. We place more weight on events and circumstances that most affect our reporting unit’s fair value or the carrying amount of our net assets. We consider positive and mitigating events and circumstances that may affect our determination of whether it is more likely than not that the fair value of our reporting unit is less than its carrying amount. We evaluate, on the basis of the weight of the evidence, the significance of all identified events and circumstances in the context of determining whether it is more likely than not that the fair value of our reporting unit is less than its carrying amount. If, after assessing the totality of these qualitative events and circumstances, we determine it is not more likely than not that the fair value of our reporting unit is less than its carrying amount, we conclude there is no impairment of goodwill and perform no further testing in accordance with GAAP. If we conclude otherwise, we proceed with performing the first step, and if necessary, the second step, of the two-step goodwill impairment test prescribed by GAAP. As of December 31, 2019, after assessing the totality of the relevant events and circumstances, we determined it not more likely than not that the fair value of our reporting unit was less than its carrying amount. Accordingly, we concluded there was no impairment of goodwill as of that date. There have been no material events or changes in circumstances since that time indicating that the carrying amount of goodwill may exceed its fair market value and that interim testing needed to be performed. Capitalized Software Development Costs When we complete research and development for a software product and have in place a program plan and a detail program design or a working model of that software product, we capitalize production costs incurred for that software product from that point forward until it is ready for general release to the public. Thereafter, we amortize capitalized software production costs to expense using the straight-line method over the estimated useful life of that product, which is generally three years. We periodically assess the carrying value of capitalized software development costs and our method of amortizing them relative to our estimates of realizability through sales of products in the marketplace. Cost of revenue Cost of revenue consists of expenses associated with the production, delivery and support of the products and services we sell. Cost of license revenue consists primarily of amortization of the capitalized software development costs we incur when producing our software products, royalties we pay to use software developed by others for certain features of our products, and fees we pay to third parties who provide services supporting our SaaS solutions. Cost of M&S revenue and cost of professional services revenue consist primarily of salaries and related costs of our employees and third parties we use to deliver these services. Research and Development We expense research and development costs as incurred. Advertising Expense We expense advertising costs as incurred as a component of our sales and marketing expenses. Advertising expense was approximately $163,000 and $807,000 in 2019 and 2018, respectively. Share-Based Compensation We measure the cost of share-based payment transactions at the grant date based on the calculated fair value of the award. We recognize this cost as an expense ratably over the recipient’s requisite service period during which that award vests or becomes unrestricted. For stock option awards, we estimate their fair value at the grant date using the Black-Scholes option-pricing model considering the following factors: ● We estimate expected volatility based on historical volatility of our common stock. ● We use primarily the simplified method to derive an expected term which represents an estimate of the time options are expected to remain outstanding. We use this method because our options are plain-vanilla options, and we believe our historical option exercise experience is not adequately indicative of our future expectations. ● We base the risk-free rate for periods within the contractual life of the option on the U.S. treasury yield curve in effect at the time of grant. ● We estimate a dividend yield based on our historical and expected future dividend payments. For restricted stock awards, we use the quoted price of our common stock on the grant date as the fair value of the award. Income Taxes We account for income taxes using the asset and liability method. We record deferred tax assets and liabilities based on the difference between the tax bases of assets and liabilities and their carrying amount for financial reporting purposes, as measured by the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are carried on the balance sheet with the presumption that they will be realizable in future periods in which we generate taxable income. We assess the likelihood that deferred tax assets will be realized from future taxable income. Based on this assessment, we provide any necessary valuation allowance on our consolidated balance sheet with a corresponding increase in the tax provision on our statement of operations. Any valuation allowances we establish are determined based upon a number of assumptions, judgments, and estimates, including forecasted earnings, future taxable income, and the relative proportions of revenue and income before taxes in the various domestic jurisdictions in which we operate. We account for uncertainty in income taxes using a two-step process to determine the amount of tax benefit to be recognized. First, we evaluate the tax position to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed “more-likely-than-not” to be sustained, we assess the tax position to determine the amount of benefit to recognize in the financial statements. The amount of the benefit we recognize is the largest amount that we believe has a greater than 50 percent likelihood of being realized upon ultimate settlement. Unrecognized tax benefits represent tax positions for which reserves have been established. We record the effects of new tax legislation in the period in which it is signed into law. Earnings Per Share We compute basic earnings per share using the weighted-average number of common shares outstanding during the periods. We compute diluted earnings per share using the weighted-average number of common shares outstanding plus the number of common shares that would be issued assuming conversion of all potentially dilutive common shares outstanding. Awards of non-vested restricted stock and options are considered potentially dilutive common shares for the purpose of computing earnings per common share. We apply the treasury stock method to non-vested options under which the assumed proceeds include the amount the employee must pay to exercise the option plus the amount of unrecognized cost attributable to future periods less any expected tax benefits. Changes in Accounting Methods, Reclassifications and Revisions As part of our ongoing enhancement and refinement of our financial reporting to fairly present our results of operations and financial position, we may make changes from time-to-time in accounting methods and in the classification and presentation of our business activities in our consolidated financial statements. To ensure comparability between periods, we revise previous period consolidated financial statements presented to conform them to the method of presentation in our current period consolidated financial statements. If the changes increase or decrease previously reported amounts of revenue or expenses, we adjust retained earnings as of the beginning of the earliest period presented for the cumulative effect, if any, on that balance. If these changes affect our financial statements for previously reported interim periods not presented herein, we present revised consolidated financial statements for those periods when they are reported in the future. Recent accounting pronouncements ASU 2017-04, Intangibles – Goodwill and Other (issued January 2017) - ASU 2016-13, Financial Instruments – Credit Losses (issued June 2016) ASU 2016-02, Leases (Topic 842): ASU 2014-09, Revenue from Contracts with Customers (issued May 2014) ● If these costs are associated with products and services for which we recognize revenue at a point in time (primarily sales of perpetual software licenses and professional services), we expense these costs in full at the time we recognize that revenue. ● If these costs are associated with services for which we recognize revenue over time (primarily sales of M&S and SaaS subscriptions) for which we believe it is likely that the contract for those services will be renewed for additional terms in the future, provided we deem these costs to be recoverable, we record these costs as deferred expense asset and amortize that cost to expense as follows: o For the portion of the cost that we determine benefits us primarily only over the term of the specific underlying contract currently in force (such as the term of an M&S contract), we will recognize expense ratably each month over that term. o For the portion of the cost that we determine benefits us over an overall customer relationship that is likely to span a period of time that is longer than an initial contract term (for example, an M&S contract renewed for multiple terms in the future), we will recognize expense ratably monthly over the estimated life of the customer relationship. |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Accounts Receivable, Net We bill our clients and issue them an invoice when we have delivered our goods or services to them. In addition, when our clients agree to purchase or renew M&S services, we bill and invoice our clients at that time, which could be before the date we begin delivering those services. In that event, we exclude from accounts receivable (and from the related deferred revenue, see Note 6) the invoices we have issued for which the M&S services commencement date is in the future and which have not been paid by the client as of the date of our financial statements. We continually assess the collectability of our accounts receivable. If we deem it less than probable that we will collect an amount due us, we write-off that balance against our allowance for doubtful accounts. We determine our accounts receivable, net, as follows ($ in thousands): December 31, 2019 2018 Total invoices issued and unpaid $ 8,245 $ 7,990 Less: Unpaid invoices relating to M&S contracts with a start date subsequent to the balance sheet date (906 ) (1,233 ) Gross accounts receivable 7,339 6,757 Allowance for doubtful accounts (100 ) (100 ) Accounts receivable, net $ 7,239 $ 6,657 The activity in our allowance for doubtful accounts has been as follows ($ in thousands): Year Ended December 31, 2019 2018 Balance, beginning of period $ 100 $ 278 ASC 606 Adjustment - (100 ) Provision for doubtful accounts 63 (88 ) Accounts written off (63 ) 10 Balance, end of period $ 100 $ 100 |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property and Equipment, Net Property and equipment, at cost, and the related accumulated depreciation consist of the following ($ in thousands): December 31, 2019 2018 Furniture and fixtures $ 828 $ 835 Software 669 669 Equipment 1,621 1,558 Leasehold improvements 559 559 3,677 3,621 Less accumulated depreciation (3,403 ) (3,222 ) Property and equipment, net $ 274 $ 399 |
Capitalized Software Developmen
Capitalized Software Development Costs, Net | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure [Text Block] | 5. Capitalized Software Development Costs, Net Our capitalized software development costs balances and activity were as follows ($ in thousands): December 31, 2019 2018 Gross capitalized cost $ 11,529 $ 10,454 Accumulated amortization (8,879 ) (7,321 ) Net balance $ 2,650 $ 3,133 Year Ended December 31, 2019 2018 Amount capitalized $ 1,074 $ 1,276 Amortization expense $ (1,557 ) $ (1,929 ) Released Unreleased Products Products Gross capitalized at December 31, 2019 $ 10,255 $ 1,274 Accumulated amortization (8,879 ) - Net balance $ 1,376 $ 1,274 Future amortization expense for the year ending December 31, 2020 $ 1,064 2021 301 2022 11 Total $ 1,376 The future amortization expense of the gross capitalized software development costs related to unreleased products will be determinable at a future date when those products are ready for general release to the public. |
Deferred Revenue
Deferred Revenue | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | 6. Deferred Revenue As described in Note 3 regarding accounts receivable, when our clients agree to purchase or renew M&S services, we bill and invoice our clients at that time which could be before the date we begin delivering those services. In that event, we exclude from deferred revenue (and from the related accounts receivable) the invoices we have issued for which the M&S services commencement date is in the future and which have not been paid by the client as of the date of our consolidated financial statements. Accordingly, we determine our deferred revenue as follows ($ in thousands): December 31 2019 2018 Total invoiced for M&S contracts for which revenue will be recognized in future periods $ 19,161 $ 17,470 Less: Unpaid invoices at December 31 relating to M&S agreements with a start date subsequent to the balance sheet date (906 ) (1,233 ) Total deferred revenue at December 31 $ 18,255 $ 16,237 Deferred revenue, current portion $ 15,683 $ 13,301 Deferred revenue, non-current portion 2,572 2,936 Total deferred revenue $ 18,255 $ 16,237 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 7. Commitments and Contingencies Leases We have an operating lease related to our office space. Minimum rental commitments under operating leases at December 31, 2019 are as follows ($ in thousands): Year Ending December 31, 2020 $ 420 2021 431 2022 442 2023 453 2024 464 Thereafter 2,133 Total $ 4,343 Rent expense under operating leases was $386,000 and $347,000 in 2019 and 2018, respectively. Supplemental other information related to leases as of and for the year ended December 31, 2019: Operating lease cost $ 386 Weighted-average remaining lease term (years) 9.3 Weighted-average discount rate (%) 5 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 395 Severance Payments We have agreements with key personnel that provide for severance payments to them in the event of a “change in control” of the Company, as defined in those agreements, and their employment is terminated in connection with that change in control. In such event, our aggregate severance payments to those employees would be between approximately $700,000 and $1.5 million depending upon the circumstances. Legal and Regulatory Matters On October 12, 2018 and November 30, 2018, the Company received letters (the “Litigation Demand Letters”) from two stockholders demanding that the Company take action to remedy alleged harm caused to the Company, including to remedy alleged breaches of fiduciary duties by certain current and/or former directors and executive officers of the Company. The stockholders alleged, inter alia, that certain current and former directors and executive officers violated their fiduciary duties beginning at least in July 2016 by engaging in an illegal scheme to misrepresent the Company’s performance by falsely reporting accounts receivable, license revenue, total current assets and total assets, total stockholders’ equity, and total liabilities for the year ended December 31, 2016, causing the Company to suffer damages by overstating financial results for the fourth quarter of 2016. The allegations referenced in the Litigation Demand Letters are related to the claims asserted in the securities class action Anthony Giovagnoli v. GlobalSCAPE, Inc., et. al., Case No. 5:17-cy-00753, previously disclosed in the Company’s Current Report on Form 8-K filed on November 15, 2017 (the “Prior Litigation”). On November 7, 2018, a special litigation committee (“Special Litigation Committee”) consisting of Dr. Thomas Hicks and Frank Morgan, was formed by the Board to analyze and investigate claims asserted in the October 12, 2018, Litigation Demand Letter and, subsequently, the November 30, 2018 Litigation Demand Letter, and consider claims that could potentially be asserted in stockholder derivative litigation related to facts connected to the claims and allegations in the Prior Litigation and the Litigation Demand Letters (the “Potential Derivative Litigation”). The Board charged the Special Litigation Committee with, among other things, determining what actions are appropriate and in the best interests of the Company, and determining whether it is in the best interests of the Company to pursue, dismiss, or consensually resolve any claims that may be asserted in the Potential Derivative Litigation. The Board determined that each member of the Special Litigation Committee is disinterested and independent with respect to the Potential Derivative Litigation. Among other things, the Special Litigation Committee had the power to retain counsel and advisors, as appropriate, to assist it in the investigation, to gather and review relevant documents relating to the claims, to interview persons who may have knowledge of the relevant information, to prepare a report setting forth its conclusions and recommended course of action with respect to the Potential Derivative Litigation, and to take any actions, including, without limitation, directing the filing and prosecution of litigation on behalf of the Company, as the Special Litigation Committee in its sole discretion deems to be in the best interests of the Company in connection with the Potential Derivative Litigation. The Board resolved that the Special Litigation Committee’s findings and determinations shall be final and not subject to review by the Board and in all respects shall be binding upon the Company. Between November 2018 and March 2019, the Special Litigation Committee, with the assistance of outside legal counsel to the Special Litigation Committee, conducted an investigation of the Potential Derivative Litigation. On March 28, 2019, the Special Litigation Committee reported that it had completed its investigation and delivered its recommendation to the Board that the Company should not pursue the Potential Derivative Litigation because, among other things, it would not be in the best interest of the Company to do so. On April 18, 2019, outside counsel for the Special Litigation Committee informed the two stockholders that sent the Litigation Demand Letters of the Special Litigation Committee’s recommendation and informed the stockholders that the Company would not pursue the Potential Derivative Litigation. The Company is not aware of any subsequent litigation commenced by these two stockholders or any other stockholders concerning claims related to the Potential Derivative Litigation. As disclosed in a Current Report on Form 8-K filed on March 16, 2018, the Fort Worth, Texas Regional Office of the SEC has opened a formal investigation of issues relating to the Restatement, with which the Company is cooperating fully. At this time, the Company is unable to predict the duration, scope, result or related costs associated with the SEC’s investigation. The Company is also unable to predict what, if any, action may be taken by the SEC, or what penalties or remedial actions the SEC may seek. Any determination by the SEC that the Company’s activities were not in compliance with existing laws or regulations, however, could result in the imposition of fines, penalties, disgorgement, equitable relief, or other losses, which could have a material adverse effect on the Company’s financial position, liquidity, or results of operations. On May 31, 2018, the Company was served with a subpoena issued by a grand jury sitting in the United States District Court for the Western District of Texas (the “Grand Jury Subpoena”). The Grand Jury Subpoena requests all documents and emails relating to the Company’s investigation of the potential improper recognition of software license revenue. The Company intends to fully cooperate with the Grand Jury Subpoena and related investigation being conducted by the United States Attorney’s Office for the Western District of Texas (the “U.S. Attorney’s Investigation”). At this time, the Company is unable to predict the duration, scope, result or related costs of the U.S. Attorney’s Investigation. The Company is also unable to predict what, if any, further action may be taken in connection with the Grand Jury Subpoena and the U.S. Attorney’s Investigation, or what, if any, penalties, sanctions or remedial actions may be sought. Any determination by the U.S. Attorney’s office that the Company’s activities were not in compliance with existing laws or regulations, however, could result in the imposition of fines, penalties, disgorgement, equitable relief, or other losses, which could have a material adverse effect on the Company’s consolidated financial position, liquidity, or results of operations. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 8. Notes Payable In November 2019, we entered into a credit facility with J.P. Morgan Chase Bank, N.A, as Administrative Agent and East West Bank as Syndication Agent consisting of a $50.0 million term loan and a $5 million revolving agreement (the “Loan Agreement”), which is secured by substantially all of our assets. Funds from the term loan were substantially used to fund a special dividend of $3.35 to our common shareholders which was paid on December 5, 2019. The revolving loan may be accessed to fund working capital needs. The loans bear a variable interest rate of LIBOR plus a Term Loan Spread between 3.75% and 2.25%. The amount of the Term Loan Spread is a function of the Company’s Leverage Ratio. Effective January 3, 2020, the Company entered into an Amendment and Waiver No. 1 to the Credit Agreement to increase the amount of the special dividend permitted to be paid to stockholders on December 5, 2019 to accommodate last minute option exercises and to exclude the May 28, 2019 special dividend from the fixed charges calculation. At December 31, 2019, the principal balance outstanding under the term note payable was $49.4 million and the balance of the revolving note payable was zero. The aggregate maturities of our notes payable, as of December 31, 2019, are as follows: $5.0 million in 2020, $7.5 million in 2021, $7.5 million in 2022, $10.0 million in 2023, and $19.4 million in 2024. Interest payments under the credit facility are due monthly. Principal payments are due quarterly. The loans may be prepaid at any time without penalty. The Loan Agreement contains the following financial covenants: ● We must not exceed a Total Leverage Ratio of 3.25%. This ratio decreases to 3.0% at September 30, 2020, 2.75% at March 31, 2021 and 2.25% at March 31, 2022. This ratio is defined in the Loan Agreement as the ratio of consolidated total funded indebtedness to consolidated EBITDA minus capitalized software expenditures for the period of the four most recent consecutive fiscal quarters. As of December 31, 2019, this debt service coverage ratio was 2.58. ● We must maintain a Fixed Coverage Charge Ratio of 1.25%. This ratio is defined in the Loan Agreement as the ratio of consolidated EBITDA minus unfinanced capital expenditures to cash interest expense plus scheduled principal payments made plus taxes paid in cash plus restricted payments made in cash. As of December 31, 2019, this debt to tangible net worth ratio was 4.01. The Loan Agreement contains customary covenants relating to maintaining legal existence and good standing, complying with applicable laws, delivery of financial statements, payment of taxes and maintaining insurance. The Loan Agreement also contains customary events of default including the failure to make payments of principal and interest, the breach of any covenants, the occurrence of a material adverse change, and certain bankruptcy and insolvency events. Additionally, we may be restricted from declaring dividends if an Event of Default exists, or if immediately prior to and after giving effect of such dividend it would cause us to exceed our maximum Total Leverage Ratio, or fall below our minimum Fixed Charge Coverage Ratio. The following table represents the components of our long-term debt disclosed on the consolidated balance sheet as of December 31, 2019. December 31, 2019 Credit facility $ 49,375 Unamortized debt issuance costs (2,055 ) Total long-term debt 47,320 Less current portion of long-term debt 4,575 Total long-term debt, non-current portion $ 42,745 Interest rate 5.5 % |
Stock Options, Restricted Stock
Stock Options, Restricted Stock and Share-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement [Text Block] | 9. Stock Options, Restricted Stock and Share-Based Compensation We have granted stock-based incentive awards to our officers and employees under long-term equity incentive plans that originated in 2000, 2006, 2010, 2015 and 2016. We currently issue stock-based awards to our officers and employees under the 2015 Non-Employee Directors Long-Term Equity Incentive Plan (“2015 Directors Plan”) and 2016 Employee Long-Term Equity Incentive Plan (“2016 Employee Plan”). The 2015 Directors Plan and 2016 Employee Plan authorize the issuance of up to 500,000 and 5,000,000 shares of common stock for stock-based incentives, including stock options and restricted stock awards, respectively. As of December 31, 2019, stock-based incentives for up to 80,000 and 2,695,928 shares remained available for issuance in the future under these plans, respectively. Under these stock-based compensation plans we have granted, and may grant in the future, incentive stock options, non-qualified stock options, and restricted stock to employees and non-employee members of the Board of Directors. Our share-based compensation expense was as follows ($ in thousands): Year Ended December 31, 2019 2018 Share-based compensation expense $ 2,415 $ 1,269 Stock Options During 2019 and 2018, we granted stock options only under the 2016 Employee Plan. Provisions and characteristics of the options granted to our officers and employees under our long-term equity incentive plans include the following: ● The exercise price, term and other conditions applicable to each stock option or stock award granted are determined by the Compensation Committee of the Board of Directors. ● The exercise price of stock options is set on the grant date and may not be less than the fair market value per share of our stock at market close on that date. ● Stock options we issue generally become exercisable ratably over a three-year period or following a four year period, expire ten years from the date of grant, and are exercisable for a period of ninety days after the end of employment. ● Upon exercise of a stock option, we issue new shares from the shares of common stock we are authorized to issue. Our stock option activity has been as follows: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Shares Price Terms Value (Years) (000's) Outstanding at December 31, 2017 2,585,210 $ 3.34 6.77 $ 1,015 2018 Granted 1,052,737 $ 3.87 Forfeitures (896,479 ) $ 3.58 Exercised (205,148 ) $ 2.55 Outstanding at December 31, 2018 2,536,320 $ 3.53 6.97 $ 2,464 2019 Granted 716,500 $ 8.01 Forfeitures (360,006 ) $ 2.95 Exercised (1,329,030 ) $ 3.46 Outstanding at December 31, 2019 1,563,784 $ 5.78 8.69 $ 6,372 Exercisable at December 31, 2019 348,979 $ 3.92 7.72 $ 2,062 Additional information about our stock options is as follows: 2019 2018 Weighted average fair value of options granted during the year $ 3.31 $ 1.57 Intrinsic value of options exercised during the year $ 10,268,977 $ 266,010 Cash received from stock options exercised during the year $ 4,604,137 $ 522,189 Number of options that vested during the year 903,390 555,574 Fair value of options that vested during the year $ 1,435,882 $ 929,480 Unrecognized compensation expense related to non-vested options at end of year $ 2,621,209 $ 1,874,762 Weighted average years over which non-vested option expense will be recognized 2.83 2.60 Plan Shares outstanding 2010 Employee LT Equity Incentive Plan 50,638 2016 Employee LT Equity Incentive Plan 1,513,146 Total shares outstanding at December 31, 2019 1,563,784 As of December 31, 2019 Options Outstanding Options Exercisable Weighted Average Weighted Weighted Underlying Remaining Average Number of Average Range of Shares Contractual Exercise Underlying Exercise Exercise Prices Outstanding Life Price Shares Price $1.43 - $2.35 13,004 2.89 $ 1.75 13,004 $ 1.75 $2.39 - $3.59 227,614 8.14 $ 3.46 75,653 $ 3.31 $3.60 - $5.90 622,666 8.27 $ 4.13 260,322 $ 4.21 $6.83 - $10.40 684,500 9.34 $ 7.98 - $ - $10.70 - $13.29 16,000 9.75 $ 12.03 - $ - Total options 1,563,784 348,979 We used the following assumptions to determine compensation expense for our stock options using the Black-Scholes option-pricing model: Year Ended December 31, 2019 2018 Expected volatility 47 % 48 % Expected annual dividend yield 1.5 % 1.5 % Risk free rate of return 2.22 % 2.88 % Expected option term (years) 6.23 5.33 Restricted Stock Awards Prior to the fourth quarter of 2019 we issued restricted stock only from the 2015 Directors Plan. During the fourth quarter of 2019, 124,079 shares of restricted stock were granted under the 2016 Employee Plan. Provisions and characteristics of these plans include the following: ● The exercise price, term and other conditions applicable to each stock option or stock award granted are determined by the Compensation Committee of the Board of Directors. ● Restricted stock awards are initially issued as restricted shares with a legend restricting transferability of the shares until the recipient satisfies the vesting provision of the award, which is generally continuing service for one year subsequent to the date of the award, after which time the restrictive legend is removed from the shares. ● Restricted shares participate in dividend payments and may be voted. Our restricted stock awards activity has been as follows: Total Grant Date Fair Value of Number of Fair Value Shares That Shares Per Share Vested Restricted Shares Outstanding at December 31, 2017 80,000 $ 4.24 2018 Shares granted with restrictions 100,000 $ 4.06 Shares vested and restrictions removed (80,000 ) $ 4.24 $ 297,600 Restricted Shares Outstanding at December 31, 2018 100,000 $ 4.06 2019 Shares granted with restrictions 204,079 $ 9.27 Shares vested and restrictions removed (120,000 ) $ 4.86 $ 1,283,600 Restricted Shares Outstanding at December 31, 2019 184,079 $ 9.32 At December 31, 2019, we had $1,356,423 of unrecognized compensation expense related to non-vested stock awards. We expect to recognize that expense in the future over a weighted-average period of forty-one months. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 10. Income Taxes The components of our income tax expense (benefit) consist of the following (amounts in thousands): 2019 2018 Current Deferred Total Current Deferred Total Federal $ 1,685 $ 53 $ 1,738 $ 993 $ (21 ) $ 972 State 378 (151 ) 227 238 17 255 Total $ 2,063 $ (98 ) $ 1,965 $ 1,231 $ (4 ) $ 1,227 The difference between income tax expense and the amount computed by applying the federal statutory income tax rate of 21% for 2019 and 2018 to income before income taxes consists of the following (amounts in thousands): Year Ended December 31, 2019 2018 Income tax expense at federal statutory rate $ 3,199 $ 1,025 Increase (decrease) in taxes resulting from: State taxes, net of federal benefit 128 218 Stock based compensation (1,585 ) 182 R&D tax credit uncertain tax position (net) (89 ) (46 ) Research and development credit - (72 ) Executive compensation 461 - Foreign derived intangible income (184 ) (105 ) Other 35 25 Income tax expense per the statement of operations $ 1,965 $ 1,227 Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in our consolidated financial statements. The components of our deferred income tax assets and liabilities are as follows (amounts in thousands): As of December 31, 2019 2018 Deferred tax assets: Deferred revenue $ 672 $ 809 Right-of-use operating lease asset 609 - Share-based compensation 200 329 Compensation and benefits 123 49 Texas franchise tax R&D credit 150 194 Allowance for doubtful accounts 37 37 State deferred tax asset 45 45 Tangible assets 24 - Accrued expenses not deducted for tax 8 6 Valuation allowance - (194 ) Total deferred tax assets 1,868 1,275 Deferred tax liabilities: Right-of-use operating lease liability 610 - Intangible assets 567 667 Deferred expenses 198 213 Total gross deferred tax liabilities 1,375 880 Net deferred tax assets $ 493 $ 395 In assessing the realizability of deferred tax assets, we consider whether it is more-likely-than-not that some portion or all the deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. We have concluded it is more-likely-than-not that our ability to generate future taxable income will allow us to realize those deferred tax assets. As of December 31, 2019, we have Texas Research and Development tax credit carryforwards of $150,000. These carryforwards expire in years 2034 through 2039. A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows (amounts in thousands): 2019 2018 Balance, beginning of year $ 113 $ 158 Increases for tax positions related to the current year - - Increases for tax positions related to prior years - 2 Decreases for tax positions due to expiring statutes (89 ) (47 ) Balance, end of year $ 24 $ 113 Our unrecognized tax benefit is related to research and development credits taken on our U.S. income tax returns for 2017 and the uncertainty related to the realization of a portion of those credits based on prior experience. We believe it reasonably possible that we will not recognize any of our unrecognized tax benefits at least through December 31, 2021. If we realized and recognized any of our unrecognized tax benefits such benefits would reduce our effective tax rate in the year of recognition. We record interest and penalty expense related to income taxes as interest and other expense, respectively. At December 31, 2019, no interest or penalties have been or are required to be accrued. Our open tax years are 2016 and forward for our federal income tax returns and 2015 and forward for most of our state income tax returns. We do not file, and are not required to file, any foreign income tax returns. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 11. Earnings Per Share Earnings per share for the periods indicated were computed as follows (in thousands except per share amounts): Year ended December 31, 2019 2018 Numerators Numerator for basic and diluted earnings per share: Net income $ 13,267 $ 3,654 Denominators Denominators for basic and diluted earnings per share: Weighted average shares outstanding - basic 17,424 20,721 Dilutive potential common shares Stock options and awards 1,101 296 Denominator for diluted earnings per share 18,525 21,017 Net income per common share - basic $ 0.76 $ 0.18 Net income per common share – diluted $ 0.72 $ 0.17 Our weighted average shares outstanding has decreased due to the repurchase of our outstanding common stock through a modified Dutch auction tender offer (the “Tender Offer”) and the stock repurchase program announced on October 29, 2018. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2019 | |
Dividends [Abstract] | |
Dividends [Text Block] | 12. Dividends We paid dividends as follows: Year ended December 31, 2019 2018 Normal dividend per share of common stock $ 0.045 $ 0.045 Special dividend per share of common stock $ 3.850 $ 0.000 |
Stockholder's Equity
Stockholder's Equity | 12 Months Ended |
Dec. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 13. Stockholders’ Equity On August 20, 2018, the Company announced the launch of a tender offer to repurchase for cash up to $15 million in value of outstanding shares of our common stock (the “Tender Offer”). The Tender Offer expired on September 19, 2018 and resulted in the purchase of 4,011,013 shares for an aggregate cost of approximately $16.8 million. Included with the shares accepted for purchase were 439,585 shares that the Company elected to purchase pursuant to the right to increase the size of the Tender Offer by up to 2.0% of the Company’s outstanding common stock. On October 29, 2018, the Board of Directors authorized a stock repurchase program in compliance with Rules 10b5-1(c)(1)(i)(B) and 10b-18 under the Exchange Act, which resulted in the purchased of an additional 896,348 shares at an approximate cost of $4.0 million. |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | 14. Employee Benefit Plan We provide our employees a 401(k) plan under which we make employer matching contributions in amounts determined by our Board of Directors. Our matching contributions were $141,000 and $132,000, for 2019 and 2018, respectively. |
Segment and Geographic Disclosu
Segment and Geographic Disclosures | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | 15. Segment and Geographic Disclosures We view our operations and manage our business as principally one segment. As a result, the financial information disclosed herein represents all of the material financial information related to our principal operating segment. Revenues derived from clients and partners located in the United States accounted for approximately 76% and 74% of our total revenues for 2019 and 2018, respectively. The remaining revenues were from clients and partners located in foreign countries, and each individual foreign country accounted for less than 10% of total revenues in each of those years. We attribute revenue to countries based on the country in which the client or partner is located. We have no property or equipment located outside the United States. |
Concentration of Business Volum
Concentration of Business Volume and Credit Risk | 12 Months Ended |
Dec. 31, 2019 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | 16. Concentration of Business Volume and Credit Risk Our cash and cash equivalents are on deposit in banks and are collectively insured by the Federal Deposit Insurance Corporation for $750,000. Our balances in excess of that amount are not insured. We may withdraw our cash deposits upon demand. We maintain our cash with multiple financial institutions of reputable credit to minimize our risk of loss. We generally provide credit to our clients under typical invoice payment terms (for example, net 30) that gives rise to trade accounts receivable from those clients. We do not require collateral from our clients. We perform ongoing evaluations of the credit risk related to offering these payment terms. We provide an allowance for uncollectible accounts based on our historical collections experience and the profile of our accounts receivable. In order to leverage the resources of third parties, we make our products available for purchase by end users through third-party channel resellers even though those end users can also purchase those products directly from us. During 2019 and 2018, we earned approximately 16% and 14%, respectively, of our revenue from such sales through our largest, third-party, channel reseller. In 2019 and 2018, approximately 24% and 26%, respectively, of our revenues resulted from sales to clients in foreign countries. We received substantially all of our revenues from foreign clients in U.S. dollars resulting in limited exchange rate risks. Our foreign sales are concentrated mostly in Canada, Western Europe and Latin America. We use software developers outside the United States to perform a portion of the coding for the development and maintenance of our software products. If we were unable to continue using these developers because of political or economic instability, we may have difficulty finding comparably skilled developers or may have to pay considerably more for the same work, which could have a material adverse impact on our financial position and results of operations. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements of GlobalSCAPE, Inc. and its wholly-owned subsidiary (collectively referred to as “GlobalSCAPE”, the “Company” or “we”) are prepared in conformity with GAAP. All intercompany accounts and transactions have been eliminated. |
Revenue [Policy Text Block] | Revenue Recognition Products and Services We earn revenue by delivering the following software products and services: ● Perpetual software licenses under which clients install our products in their information systems environment on computers they manage, own or otherwise procure from a cloud services provider. Clients also deploy our products with cloud services providers in a BYOL environment. ● Cloud-based, hosted SaaS solutions that we sell on an ongoing subscription basis resulting in our earning recurring, monthly subscription and usage fees to access the service. ● Maintenance and support services, or M&S, that generally consist of telephone support and access to unspecified future software upgrades. ● Professional services for product integration and configuration that generally do not significantly modify our software products. We earn the majority of our revenue from the sale of perpetual software licenses and associated contracts for M&S. We recognize revenue when we have satisfied a performance obligation by transferring control over a product or delivering a service to a client. We measure revenue based upon the consideration set forth in an arrangement or contract with a client. The revenue recognition criteria we apply to each of our software products and services are as follows: ● Perpetual software licenses – These licenses grant a right to use our functional intellectual property. We recognize revenue at the point in time when we electronically deliver to our client the software license key that provides the ability to access and use our product. If our client is a reseller who will further transfer the ability to access and use our product to a third party under a separate arrangement that the reseller has with that third party, we recognize revenue at the time we deliver the software license key to the reseller since our contract is with the reseller. ● Cloud-based, hosted SaaS solutions – These solutions grant a right to access our functional intellectual property. We recognize revenue over time on a monthly basis as we deliver the services to which our clients subscribe. Revenue can include basic monthly fees to access the software and usage fees based upon the volume of certain resources the client consumes (such as volumes of storage or bandwidth). We are generally paid for these services on a month-to-month basis, but if a client pays us in advance for services we will deliver in the future, we record as deferred revenue the amount of such payment related to services we have not yet delivered. ● M&S – We provide these services to purchasers of perpetual software licenses under agreements with terms generally ranging from one to three years. We require up-front payment of our M&S fee in an amount that covers the entire term of the agreement. We record as deferred revenue amounts paid that relate to future periods during which we will provide the M&S service. We reduce deferred revenue and recognize revenue ratably in future periods as we deliver the M&S service. ● Professional services – We recognize revenue from these services when the services are completed. If we are paid in advance for these services, we record such payment as deferred revenue until we complete the services. The delivery of our software products and services generally does not involve any variable consideration, financing components or consideration payable to a client such as rebates or other incentives that reduce amounts owed to us by clients. Deferred Revenue Classification and Activity Deferred revenue related to services we will deliver within one year is presented as a current liability. Deferred revenue related to services that we will deliver more than one year into the future is presented as a non-current liability. The activity in our deferred revenue balances has been as follows ($in thousands): Year Ended December 31, 2019 2018 Deferred revenue, beginning of period $ 16,237 $ 17,050 Deferred revenue resulting from new contracts with clients 31,117 21,577 Deferred revenue at the beginning of the period that was amortized to revenue (24,945 ) (20,244 ) Deferred revenue arising during the period that was amortized to revenue (4,154 ) (2,146 ) Deferred revenue, end of period $ 18,255 $ 16,237 Multi-Element Transactions At the time clients purchase perpetual software licenses, they also typically purchase M&S although it is not mandatory. We do not sell separate M&S to subscribers to our SaaS solutions as M&S is provided as part of their SaaS subscription. Clients may also purchase professional services at the time they purchase perpetual software licenses or a SaaS subscription. Each of the components of these multi-element transactions is a separately identifiable performance obligation. For multi-element transactions, we allocate the transaction price to each performance obligation on a relative stand-alone selling price basis. We determine that stand-alone selling price for each item at the inception of the transaction involving these multiple elements. We sell, as stand-alone transactions, renewals of pre-existing M&S contracts, professional services to clients seeking assistance with products they have previously purchased from us, or SaaS subscriptions to clients not requiring any of our other products or services. Accordingly, we are able to estimate the stand-alone selling price of these items based upon our observation of those transactions. Since most of our sales of perpetual software licenses are part of multi-element transactions that also involve M&S and/or professional services, and because the selling price of those licenses can vary significantly among clients, we use the residual approach under FASB Accounting Standards Codification Top 606, or ASC 606, to estimate the selling price of perpetual software licenses in a multi-element transaction by reference to the total transaction price less the sum of the observable stand-alone selling prices of M&S and/or professional services. We allocate discounts proportionally to all of the components of a multi-element transaction. Sales Tax We collect sales tax on many of our transactions with clients as required under applicable law. We do not include sales tax collected in our revenue. We record it as a liability payable to taxing authorities. Allowance for Sales Returns We provide an allowance for sales returns. We estimate this allowance based upon our historical experience and the nature of recent transactions with clients. This amount is included in accrued liabilities in our consolidated balance sheet. Contract Assets We generally bill clients for professional services when we have fully delivered the services specified in the contract. We may incur costs in delivering the services prior to that time. Such costs are generally not material. Accordingly, we do not record a contract asset for professional service engagements in process but not yet billed. Incremental Costs of Obtaining a Contract to Deliver Goods and Services We incur incremental costs in the form of sales commissions paid to our sales personnel and royalties on certain products paid to third parties. These are costs we would not incur if we did not obtain a contract to deliver our goods and services. We account for these costs as follows: ● If the costs are associated with products and services for which we recognize revenue at a fixed point in time (primarily sales of perpetual software licenses and professional services), we expense these costs in full at the time we recognize that revenue. ● If the costs are associated with services for which we recognize revenue over time (primarily sales of M&S and SaaS subscriptions) for which we believe it is likely that the contract for those services will be renewed for additional terms in the future, provided we deem these costs to be recoverable, we record these costs as a deferred expense asset and amortize that cost to expense as follows: o For the portion of the cost that we determine benefits us primarily only over the term of the specific underlying contract currently in force (such as the term of an M&S contract), we recognize expense ratably each month over that term. o For the portion of the cost that we determine benefits us over an overall client relationship that is likely to span a period of time that is longer than an initial contract term (for example, an M&S contract renewed for multiple terms in the future), we recognize expense ratably monthly over the estimated life of the client relationship. Our activity in deferred costs of obtaining a contract to deliver goods and services has been as follows ($in thousands): Year Ended December 31, 2019 2018 Deferred cost, beginning of period $ 1,009 $ 1,240 Deferred cost resulting from new contracts with clients 812 674 Deferred cost amortized to expense (878 ) (905 ) Deferred cost, end of period $ 943 $ 1,009 We recorded $577,000 and $571,000 in prepaid and other current assets and $366,000 and $438,000 was recorded in noncurrent other assets in our consolidated balance sheet as of December 31, 2019 and 2018, respectively. |
Lessee, Leases [Policy Text Block] | Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities on our consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. On April 18, 2019, the Company signed a new operating lease for our existing office space location. The lease is for a period of 10 years at an average annual rent of $462,000 beginning May 1, 2019. We recorded a right-of-use asset and lease liability of approximately $3 million at the commencement of the lease. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents Cash and cash equivalents include all cash and highly liquid investments with original maturities of three months or less. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments For financial assets and liabilities recorded at fair value on a recurring or non-recurring basis, fair value is the price we would receive to sell an asset, or pay to transfer a liability, in an orderly transaction with a market participant at the measurement date. In the absence of such data, fair value is estimated using internal information consistent with what market participants would use in a hypothetical transaction. In determining fair value, observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions; preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3: Significant inputs to the valuation model are unobservable. As of December 31, 2019, we did not have any assets measured at fair value on a recurring basis that would require disclosure based on the fair value hierarchy of valuation techniques. In addition, certain non-financial assets and liabilities are to be initially measured at fair value on a non-recurring basis. This includes items such as non-financial assets and liabilities initially measured at fair value in a business combination (but not measured at fair value in subsequent periods) and non-financial, long-lived assets measured at fair value for an impairment assessment. In general, non-financial assets and liabilities including goodwill, capitalized software and property and equipment are measured at fair value using Level 3 inputs, which result in management’s best estimate of fair value from the perspective of a market participant, when there is an indication of impairment and are recorded at fair value only when impairment is recognized. Our financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable and notes payable. The carrying amount of cash and cash equivalents, accounts receivable, and accounts payable, approximates fair value due to the short-term maturity of these instruments, all of which mature within 12 months. The carrying amount of our notes payable, including the current portion, as of December 31, 2019 was $49,375,000. This carrying value approximates fair value based on interest rates that are currently available to us for issuance of debt with similar terms and maturities. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is comprised of furniture and fixtures, software, computer equipment and leasehold improvements which are recorded at cost and depreciated using the straight-line method over their estimated useful lives. Furniture, fixtures and equipment have a useful life of five to seven years, computer equipment and software have a useful life of three years and leasehold improvements have a useful life that is the shorter of the term of the lease under which the improvements were made or the estimated useful life of the asset. Expenditures for maintenance and repairs are expensed as incurred. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill is not amortized. On at least an annual basis, we test goodwill for impairment at the reporting unit level using December 31 as the measurement date. We operate as a single reporting unit. When testing goodwill, we first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of our reporting unit is less than its carrying amount, including goodwill. In performing this qualitative assessment, we assess events and circumstances relevant to us including, but not limited to: ● Macroeconomic conditions. ● Industry and market considerations. ● Cost factors and trends for labor and other expenses of operating our business. ● Our overall financial performance and outlook for the future. ● Trends in the quoted market value and trading of our common stock. In considering these and other factors, we consider the extent to which any adverse events and circumstances identified could affect the comparison of our reporting unit’s fair value with its carrying amount. We place more weight on events and circumstances that most affect our reporting unit’s fair value or the carrying amount of our net assets. We consider positive and mitigating events and circumstances that may affect our determination of whether it is more likely than not that the fair value of our reporting unit is less than its carrying amount. We evaluate, on the basis of the weight of the evidence, the significance of all identified events and circumstances in the context of determining whether it is more likely than not that the fair value of our reporting unit is less than its carrying amount. If, after assessing the totality of these qualitative events and circumstances, we determine it is not more likely than not that the fair value of our reporting unit is less than its carrying amount, we conclude there is no impairment of goodwill and perform no further testing in accordance with GAAP. If we conclude otherwise, we proceed with performing the first step, and if necessary, the second step, of the two-step goodwill impairment test prescribed by GAAP. As of December 31, 2019, after assessing the totality of the relevant events and circumstances, we determined it not more likely than not that the fair value of our reporting unit was less than its carrying amount. Accordingly, we concluded there was no impairment of goodwill as of that date. There have been no material events or changes in circumstances since that time indicating that the carrying amount of goodwill may exceed its fair market value and that interim testing needed to be performed. |
Research, Development, and Computer Software, Policy [Policy Text Block] | Capitalized Software Development Costs When we complete research and development for a software product and have in place a program plan and a detail program design or a working model of that software product, we capitalize production costs incurred for that software product from that point forward until it is ready for general release to the public. Thereafter, we amortize capitalized software production costs to expense using the straight-line method over the estimated useful life of that product, which is generally three years. We periodically assess the carrying value of capitalized software development costs and our method of amortizing them relative to our estimates of realizability through sales of products in the marketplace. |
Cost of Goods and Service [Policy Text Block] | Cost of revenue Cost of revenue consists of expenses associated with the production, delivery and support of the products and services we sell. Cost of license revenue consists primarily of amortization of the capitalized software development costs we incur when producing our software products, royalties we pay to use software developed by others for certain features of our products, and fees we pay to third parties who provide services supporting our SaaS solutions. Cost of M&S revenue and cost of professional services revenue consist primarily of salaries and related costs of our employees and third parties we use to deliver these services. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development We expense research and development costs as incurred. |
Advertising Cost [Policy Text Block] | Advertising Expense We expense advertising costs as incurred as a component of our sales and marketing expenses. Advertising expense was approximately $163,000 and $807,000 in 2019 and 2018, respectively. |
Share-based Payment Arrangement [Policy Text Block] | Share-Based Compensation We measure the cost of share-based payment transactions at the grant date based on the calculated fair value of the award. We recognize this cost as an expense ratably over the recipient’s requisite service period during which that award vests or becomes unrestricted. For stock option awards, we estimate their fair value at the grant date using the Black-Scholes option-pricing model considering the following factors: ● We estimate expected volatility based on historical volatility of our common stock. ● We use primarily the simplified method to derive an expected term which represents an estimate of the time options are expected to remain outstanding. We use this method because our options are plain-vanilla options, and we believe our historical option exercise experience is not adequately indicative of our future expectations. ● We base the risk-free rate for periods within the contractual life of the option on the U.S. treasury yield curve in effect at the time of grant. ● We estimate a dividend yield based on our historical and expected future dividend payments. For restricted stock awards, we use the quoted price of our common stock on the grant date as the fair value of the award. |
Income Tax, Policy [Policy Text Block] | Income Taxes We account for income taxes using the asset and liability method. We record deferred tax assets and liabilities based on the difference between the tax bases of assets and liabilities and their carrying amount for financial reporting purposes, as measured by the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are carried on the balance sheet with the presumption that they will be realizable in future periods in which we generate taxable income. We assess the likelihood that deferred tax assets will be realized from future taxable income. Based on this assessment, we provide any necessary valuation allowance on our consolidated balance sheet with a corresponding increase in the tax provision on our statement of operations. Any valuation allowances we establish are determined based upon a number of assumptions, judgments, and estimates, including forecasted earnings, future taxable income, and the relative proportions of revenue and income before taxes in the various domestic jurisdictions in which we operate. We account for uncertainty in income taxes using a two-step process to determine the amount of tax benefit to be recognized. First, we evaluate the tax position to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed “more-likely-than-not” to be sustained, we assess the tax position to determine the amount of benefit to recognize in the financial statements. The amount of the benefit we recognize is the largest amount that we believe has a greater than 50 percent likelihood of being realized upon ultimate settlement. Unrecognized tax benefits represent tax positions for which reserves have been established. We record the effects of new tax legislation in the period in which it is signed into law. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share We compute basic earnings per share using the weighted-average number of common shares outstanding during the periods. We compute diluted earnings per share using the weighted-average number of common shares outstanding plus the number of common shares that would be issued assuming conversion of all potentially dilutive common shares outstanding. Awards of non-vested restricted stock and options are considered potentially dilutive common shares for the purpose of computing earnings per common share. We apply the treasury stock method to non-vested options under which the assumed proceeds include the amount the employee must pay to exercise the option plus the amount of unrecognized cost attributable to future periods less any expected tax benefits. |
Reclassification, Policy [Policy Text Block] | Changes in Accounting Methods, Reclassifications and Revisions As part of our ongoing enhancement and refinement of our financial reporting to fairly present our results of operations and financial position, we may make changes from time-to-time in accounting methods and in the classification and presentation of our business activities in our consolidated financial statements. To ensure comparability between periods, we revise previous period consolidated financial statements presented to conform them to the method of presentation in our current period consolidated financial statements. If the changes increase or decrease previously reported amounts of revenue or expenses, we adjust retained earnings as of the beginning of the earliest period presented for the cumulative effect, if any, on that balance. If these changes affect our financial statements for previously reported interim periods not presented herein, we present revised consolidated financial statements for those periods when they are reported in the future. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements ASU 2017-04, Intangibles – Goodwill and Other (issued January 2017) - ASU 2016-13, Financial Instruments – Credit Losses (issued June 2016) ASU 2016-02, Leases (Topic 842): ASU 2014-09, Revenue from Contracts with Customers (issued May 2014) ● If these costs are associated with products and services for which we recognize revenue at a point in time (primarily sales of perpetual software licenses and professional services), we expense these costs in full at the time we recognize that revenue. ● If these costs are associated with services for which we recognize revenue over time (primarily sales of M&S and SaaS subscriptions) for which we believe it is likely that the contract for those services will be renewed for additional terms in the future, provided we deem these costs to be recoverable, we record these costs as deferred expense asset and amortize that cost to expense as follows: o For the portion of the cost that we determine benefits us primarily only over the term of the specific underlying contract currently in force (such as the term of an M&S contract), we will recognize expense ratably each month over that term. o For the portion of the cost that we determine benefits us over an overall customer relationship that is likely to span a period of time that is longer than an initial contract term (for example, an M&S contract renewed for multiple terms in the future), we will recognize expense ratably monthly over the estimated life of the customer relationship. |
Significant Accounting Polici_2
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Significant Accounting Policies (Tables) [Line Items] | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Accordingly, we determine our deferred revenue as follows ($ in thousands): December 31 2019 2018 Total invoiced for M&S contracts for which revenue will be recognized in future periods $ 19,161 $ 17,470 Less: Unpaid invoices at December 31 relating to M&S agreements with a start date subsequent to the balance sheet date (906 ) (1,233 ) Total deferred revenue at December 31 $ 18,255 $ 16,237 Deferred revenue, current portion $ 15,683 $ 13,301 Deferred revenue, non-current portion 2,572 2,936 Total deferred revenue $ 18,255 $ 16,237 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | Released Unreleased Products Products Gross capitalized at December 31, 2019 $ 10,255 $ 1,274 Accumulated amortization (8,879 ) - Net balance $ 1,376 $ 1,274 |
Incremental Costs of Obtaining a Contract to Deliver Goods and Services [Member] | |
Significant Accounting Policies (Tables) [Line Items] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | Our activity in deferred costs of obtaining a contract to deliver goods and services has been as follows ($in thousands): Year Ended December 31, 2019 2018 Deferred cost, beginning of period $ 1,009 $ 1,240 Deferred cost resulting from new contracts with clients 812 674 Deferred cost amortized to expense (878 ) (905 ) Deferred cost, end of period $ 943 $ 1,009 |
Software License Arrangement [Member] | |
Significant Accounting Policies (Tables) [Line Items] | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | The activity in our deferred revenue balances has been as follows ($in thousands): Year Ended December 31, 2019 2018 Deferred revenue, beginning of period $ 16,237 $ 17,050 Deferred revenue resulting from new contracts with clients 31,117 21,577 Deferred revenue at the beginning of the period that was amortized to revenue (24,945 ) (20,244 ) Deferred revenue arising during the period that was amortized to revenue (4,154 ) (2,146 ) Deferred revenue, end of period $ 18,255 $ 16,237 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | We determine our accounts receivable, net, as follows ($ in thousands): December 31, 2019 2018 Total invoices issued and unpaid $ 8,245 $ 7,990 Less: Unpaid invoices relating to M&S contracts with a start date subsequent to the balance sheet date (906 ) (1,233 ) Gross accounts receivable 7,339 6,757 Allowance for doubtful accounts (100 ) (100 ) Accounts receivable, net $ 7,239 $ 6,657 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | The activity in our allowance for doubtful accounts has been as follows ($ in thousands): Year Ended December 31, 2019 2018 Balance, beginning of period $ 100 $ 278 ASC 606 Adjustment - (100 ) Provision for doubtful accounts 63 (88 ) Accounts written off (63 ) 10 Balance, end of period $ 100 $ 100 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment, at cost, and the related accumulated depreciation consist of the following ($ in thousands): December 31, 2019 2018 Furniture and fixtures $ 828 $ 835 Software 669 669 Equipment 1,621 1,558 Leasehold improvements 559 559 3,677 3,621 Less accumulated depreciation (3,403 ) (3,222 ) Property and equipment, net $ 274 $ 399 |
Capitalized Software Developm_2
Capitalized Software Development Costs, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Our capitalized software development costs balances and activity were as follows ($ in thousands): December 31, 2019 2018 Gross capitalized cost $ 11,529 $ 10,454 Accumulated amortization (8,879 ) (7,321 ) Net balance $ 2,650 $ 3,133 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Year Ended December 31, 2019 2018 Amount capitalized $ 1,074 $ 1,276 Amortization expense $ (1,557 ) $ (1,929 ) |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | Released Unreleased Products Products Gross capitalized at December 31, 2019 $ 10,255 $ 1,274 Accumulated amortization (8,879 ) - Net balance $ 1,376 $ 1,274 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Future amortization expense for the year ending December 31, 2020 $ 1,064 2021 301 2022 11 Total $ 1,376 |
Deferred Revenue (Tables)
Deferred Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Accordingly, we determine our deferred revenue as follows ($ in thousands): December 31 2019 2018 Total invoiced for M&S contracts for which revenue will be recognized in future periods $ 19,161 $ 17,470 Less: Unpaid invoices at December 31 relating to M&S agreements with a start date subsequent to the balance sheet date (906 ) (1,233 ) Total deferred revenue at December 31 $ 18,255 $ 16,237 Deferred revenue, current portion $ 15,683 $ 13,301 Deferred revenue, non-current portion 2,572 2,936 Total deferred revenue $ 18,255 $ 16,237 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | We have an operating lease related to our office space. Minimum rental commitments under operating leases at December 31, 2019 are as follows ($ in thousands): Year Ending December 31, 2020 $ 420 2021 431 2022 442 2023 453 2024 464 Thereafter 2,133 Total $ 4,343 |
Lease, Cost [Table Text Block] | Supplemental other information related to leases as of and for the year ended December 31, 2019: Operating lease cost $ 386 Weighted-average remaining lease term (years) 9.3 Weighted-average discount rate (%) 5 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 395 |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | The following table represents the components of our long-term debt disclosed on the consolidated balance sheet as of December 31, 2019. December 31, 2019 Credit facility $ 49,375 Unamortized debt issuance costs (2,055 ) Total long-term debt 47,320 Less current portion of long-term debt 4,575 Total long-term debt, non-current portion $ 42,745 Interest rate 5.5 % |
Stock Options, Restricted Sto_2
Stock Options, Restricted Stock and Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Under these stock-based compensation plans we have granted, and may grant in the future, incentive stock options, non-qualified stock options, and restricted stock to employees and non-employee members of the Board of Directors. Our share-based compensation expense was as follows ($ in thousands): Year Ended December 31, 2019 2018 Share-based compensation expense $ 2,415 $ 1,269 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Our stock option activity has been as follows: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Shares Price Terms Value (Years) (000's) Outstanding at December 31, 2017 2,585,210 $ 3.34 6.77 $ 1,015 2018 Granted 1,052,737 $ 3.87 Forfeitures (896,479 ) $ 3.58 Exercised (205,148 ) $ 2.55 Outstanding at December 31, 2018 2,536,320 $ 3.53 6.97 $ 2,464 2019 Granted 716,500 $ 8.01 Forfeitures (360,006 ) $ 2.95 Exercised (1,329,030 ) $ 3.46 Outstanding at December 31, 2019 1,563,784 $ 5.78 8.69 $ 6,372 Exercisable at December 31, 2019 348,979 $ 3.92 7.72 $ 2,062 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Additional information about our stock options is as follows: 2019 2018 Weighted average fair value of options granted during the year $ 3.31 $ 1.57 Intrinsic value of options exercised during the year $ 10,268,977 $ 266,010 Cash received from stock options exercised during the year $ 4,604,137 $ 522,189 Number of options that vested during the year 903,390 555,574 Fair value of options that vested during the year $ 1,435,882 $ 929,480 Unrecognized compensation expense related to non-vested options at end of year $ 2,621,209 $ 1,874,762 Weighted average years over which non-vested option expense will be recognized 2.83 2.60 |
Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plans [Table Text Block] | Plan Shares outstanding 2010 Employee LT Equity Incentive Plan 50,638 2016 Employee LT Equity Incentive Plan 1,513,146 Total shares outstanding at December 31, 2019 1,563,784 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | As of December 31, 2019 Options Outstanding Options Exercisable Weighted Average Weighted Weighted Underlying Remaining Average Number of Average Range of Shares Contractual Exercise Underlying Exercise Exercise Prices Outstanding Life Price Shares Price $1.43 - $2.35 13,004 2.89 $ 1.75 13,004 $ 1.75 $2.39 - $3.59 227,614 8.14 $ 3.46 75,653 $ 3.31 $3.60 - $5.90 622,666 8.27 $ 4.13 260,322 $ 4.21 $6.83 - $10.40 684,500 9.34 $ 7.98 - $ - $10.70 - $13.29 16,000 9.75 $ 12.03 - $ - Total options 1,563,784 348,979 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | We used the following assumptions to determine compensation expense for our stock options using the Black-Scholes option-pricing model: Year Ended December 31, 2019 2018 Expected volatility 47 % 48 % Expected annual dividend yield 1.5 % 1.5 % Risk free rate of return 2.22 % 2.88 % Expected option term (years) 6.23 5.33 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Our restricted stock awards activity has been as follows: Total Grant Date Fair Value of Number of Fair Value Shares That Shares Per Share Vested Restricted Shares Outstanding at December 31, 2017 80,000 $ 4.24 2018 Shares granted with restrictions 100,000 $ 4.06 Shares vested and restrictions removed (80,000 ) $ 4.24 $ 297,600 Restricted Shares Outstanding at December 31, 2018 100,000 $ 4.06 2019 Shares granted with restrictions 204,079 $ 9.27 Shares vested and restrictions removed (120,000 ) $ 4.86 $ 1,283,600 Restricted Shares Outstanding at December 31, 2019 184,079 $ 9.32 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of our income tax expense (benefit) consist of the following (amounts in thousands): 2019 2018 Current Deferred Total Current Deferred Total Federal $ 1,685 $ 53 $ 1,738 $ 993 $ (21 ) $ 972 State 378 (151 ) 227 238 17 255 Total $ 2,063 $ (98 ) $ 1,965 $ 1,231 $ (4 ) $ 1,227 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The difference between income tax expense and the amount computed by applying the federal statutory income tax rate of 21% for 2019 and 2018 to income before income taxes consists of the following (amounts in thousands): Year Ended December 31, 2019 2018 Income tax expense at federal statutory rate $ 3,199 $ 1,025 Increase (decrease) in taxes resulting from: State taxes, net of federal benefit 128 218 Stock based compensation (1,585 ) 182 R&D tax credit uncertain tax position (net) (89 ) (46 ) Research and development credit - (72 ) Executive compensation 461 - Foreign derived intangible income (184 ) (105 ) Other 35 25 Income tax expense per the statement of operations $ 1,965 $ 1,227 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in our consolidated financial statements. The components of our deferred income tax assets and liabilities are as follows (amounts in thousands): As of December 31, 2019 2018 Deferred tax assets: Deferred revenue $ 672 $ 809 Right-of-use operating lease asset 609 - Share-based compensation 200 329 Compensation and benefits 123 49 Texas franchise tax R&D credit 150 194 Allowance for doubtful accounts 37 37 State deferred tax asset 45 45 Tangible assets 24 - Accrued expenses not deducted for tax 8 6 Valuation allowance - (194 ) Total deferred tax assets 1,868 1,275 Deferred tax liabilities: Right-of-use operating lease liability 610 - Intangible assets 567 667 Deferred expenses 198 213 Total gross deferred tax liabilities 1,375 880 Net deferred tax assets $ 493 $ 395 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows (amounts in thousands): 2019 2018 Balance, beginning of year $ 113 $ 158 Increases for tax positions related to the current year - - Increases for tax positions related to prior years - 2 Decreases for tax positions due to expiring statutes (89 ) (47 ) Balance, end of year $ 24 $ 113 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Earnings per share for the periods indicated were computed as follows (in thousands except per share amounts): Year ended December 31, 2019 2018 Numerators Numerator for basic and diluted earnings per share: Net income $ 13,267 $ 3,654 Denominators Denominators for basic and diluted earnings per share: Weighted average shares outstanding - basic 17,424 20,721 Dilutive potential common shares Stock options and awards 1,101 296 Denominator for diluted earnings per share 18,525 21,017 Net income per common share - basic $ 0.76 $ 0.18 Net income per common share – diluted $ 0.72 $ 0.17 |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Dividends [Abstract] | |
Schedule of Dividends Payable [Table Text Block] | We paid dividends as follows: Year ended December 31, 2019 2018 Normal dividend per share of common stock $ 0.045 $ 0.045 Special dividend per share of common stock $ 3.850 $ 0.000 |
Significant Accounting Polici_3
Significant Accounting Policies (Details) - USD ($) | Apr. 18, 2019 | Jan. 01, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
Significant Accounting Policies (Details) [Line Items] | ||||
Deferred Costs, Current | $ 577,000 | $ 571,000 | ||
Deferred Costs, Noncurrent | 366,000 | 438,000 | ||
Lessee, Operating Lease, Term of Contract | 10 years | |||
Operating Leases, Rent Expense, Minimum Rentals | $ 462,000 | |||
Operating Lease, Right-of-Use Asset | $ 3,000,000 | 2,905,000 | 0 | |
Notes Payable | 49,375,000 | |||
Goodwill, Impairment Loss | 0 | |||
Advertising Expense | $ 163,000 | $ 807,000 | ||
Probability of occurrence of event | 50.00% | |||
Contract with Customer, Deferred Expense | $ 1,200,000 | |||
Computer Equipment [Member] | ||||
Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Software and Software Development Costs [Member] | ||||
Significant Accounting Policies (Details) [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||
Minimum [Member] | Furniture and Fixtures [Member] | ||||
Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Maximum [Member] | Furniture and Fixtures [Member] | ||||
Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years |
Significant Accounting Polici_4
Significant Accounting Policies (Details) - Deferred Revenue, by Arrangement, Disclosure - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Revenue, by Arrangement, Disclosure [Abstract] | ||
Deferred revenue, beginning of period | $ 16,237 | $ 17,050 |
Deferred revenue resulting from new contracts with clients | 31,117 | 21,577 |
Deferred revenue at the beginning of the period that was amortized to revenue | (24,945) | (20,244) |
Deferred revenue arising during the period that was amortized to revenue | (4,154) | (2,146) |
Deferred revenue, end of period | $ 18,255 | $ 16,237 |
Significant Accounting Polici_5
Significant Accounting Policies (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets [Abstract] | ||
Deferred cost, beginning of period | $ 1,009 | $ 1,240 |
Deferred cost resulting from new contracts with clients | 812 | 674 |
Deferred cost amortized to expense | (878) | (905) |
Deferred cost, end of period | $ 943 | $ 1,009 |
Accounts Receivable, Net (Detai
Accounts Receivable, Net (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract] | ||
Total invoices issued and unpaid | $ 8,245 | $ 7,990 |
Less: Unpaid invoices relating to M&S contracts with a start date subsequent to the balance sheet date | (906) | (1,233) |
Gross accounts receivable | 7,339 | 6,757 |
Allowance for doubtful accounts | (100) | (100) |
Accounts receivable, net | $ 7,239 | $ 6,657 |
Accounts Receivable, Net (Det_2
Accounts Receivable, Net (Details) - Allowance for Credit Losses on Financing Receivables - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Allowance for Credit Losses on Financing Receivables [Abstract] | ||
Balance, beginning of period | $ 100 | $ 278 |
ASC 606 Adjustment | 0 | (100) |
Provision for doubtful accounts | 63 | (88) |
Accounts written off | (63) | 10 |
Balance, end of period | $ 100 | $ 100 |
Property and Equipment, Net (De
Property and Equipment, Net (Details) - Property, Plant and Equipment - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 3,677 | $ 3,621 |
Less accumulated depreciation | (3,403) | (3,222) |
Property and equipment, net | 274 | 399 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 828 | 835 |
Software and Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 669 | 669 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 1,621 | 1,558 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 559 | $ 559 |
Capitalized Software Developm_3
Capitalized Software Development Costs, Net (Details) - Schedule of Finite-Lived Intangible Assets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Finite-Lived Intangible Assets [Abstract] | ||
Gross capitalized cost | $ 11,529 | $ 10,454 |
Accumulated amortization | (8,879) | (7,321) |
Net balance | $ 2,650 | $ 3,133 |
Capitalized Software Developm_4
Capitalized Software Development Costs, Net (Details) - Finite-lived Intangible Assets Amortization Expense - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-lived Intangible Assets Amortization Expense [Abstract] | ||
Amount capitalized | $ 1,074 | $ 1,276 |
Amortization expense | $ (1,557) | $ (1,929) |
Capitalized Software Developm_5
Capitalized Software Development Costs, Net (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure - Computer Software, Intangible Asset [Member] $ in Thousands | Dec. 31, 2019USD ($) |
Released Products [Member] | |
Capitalized Software Development Costs, Net (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items] | |
Gross capitalized at December 31, 2019 | $ 10,255 |
Accumulated amortization | (8,879) |
Total | 1,376 |
Unreleased Products [Member] | |
Capitalized Software Development Costs, Net (Details) - Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items] | |
Gross capitalized at December 31, 2019 | 1,274 |
Accumulated amortization | 0 |
Total | $ 1,274 |
Capitalized Software Developm_6
Capitalized Software Development Costs, Net (Details) - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense $ in Thousands | Dec. 31, 2019USD ($) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | |
2020 | $ 1,064 |
2021 | 301 |
2022 | 11 |
Total | $ 1,376 |
Deferred Revenue (Details) - Sc
Deferred Revenue (Details) - Schedule of Deferred Revenue, by Arrangement, Disclosure - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of Deferred Revenue, by Arrangement, Disclosure [Abstract] | |||
Total invoiced for M&S contracts for which revenue will be recognized in future periods | $ 19,161 | $ 17,470 | |
Less: Unpaid invoices relating to M&S agreements with a start date subsequent to the balance sheet date | (906) | (1,233) | |
Total deferred revenue | 18,255 | 16,237 | $ 17,050 |
Deferred revenue, current portion | 15,683 | 13,301 | |
Deferred revenue, non-current portion | $ 2,572 | $ 2,936 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Commitments and Contingencies (Details) [Line Items] | ||
Operating Leases, Rent Expense | $ 386,000 | $ 347,000 |
Minimum [Member] | ||
Commitments and Contingencies (Details) [Line Items] | ||
Other Commitment | 700,000 | |
Maximum [Member] | ||
Commitments and Contingencies (Details) [Line Items] | ||
Other Commitment | $ 1,500,000 |
Commitments and Contingencies
Commitments and Contingencies (Details) - Lessee, Operating Lease, Liability, Maturity $ in Thousands | Dec. 31, 2019USD ($) |
Lessee, Operating Lease, Liability, Maturity [Abstract] | |
2020 | $ 420 |
2021 | 431 |
2022 | 442 |
2023 | 453 |
2024 | 464 |
Thereafter | 2,133 |
Total | $ 4,343 |
Commitments and Contingencies_3
Commitments and Contingencies (Details) - Lease, Cost $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lease, Cost [Abstract] | |
Operating lease cost | $ 386 |
Weighted-average remaining lease term (years) | 9 years 109 days |
Weighted-average discount rate (%) | 5.00% |
Operating cash flows from operating leases | $ 395 |
Notes Payable (Details)
Notes Payable (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 05, 2019 | Nov. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Notes Payable (Details) [Line Items] | ||||
Debt Instrument, Face Amount | $ 50,000 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | |||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 3.35 | $ 3.895 | $ 0.045 | |
Notes and Loans Payable | $ 49,400 | |||
Long-term Line of Credit | 0 | |||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 5,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 7,500 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 7,500 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 10,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Five | $ 19,400 | |||
Debt Instrument, Payment Terms | Interest payments under the credit facility are due monthly. Principal payments are due quarterly. The loans may be prepaid at any time without penalty. | |||
Debt Instrument, Restrictive Covenants | The Loan Agreement contains the following financial covenants: ● We must not exceed a Total Leverage Ratio of 3.25%. This ratio decreases to 3.0% at September 30, 2020, 2.75% at March 31, 2021 and 2.25% at March 31, 2022. This ratio is defined in the Loan Agreement as the ratio of consolidated total funded indebtedness to consolidated EBITDA minus capitalized software expenditures for the period of the four most recent consecutive fiscal quarters. As of December 31, 2019, this debt service coverage ratio was 2.58. ● We must maintain a Fixed Coverage Charge Ratio of 1.25%. This ratio is defined in the Loan Agreement as the ratio of consolidated EBITDA minus unfinanced capital expenditures to cash interest expense plus scheduled principal payments made plus taxes paid in cash plus restricted payments made in cash. As of December 31, 2019, this debt to tangible net worth ratio was 4.01. | |||
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||
Notes Payable (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.75% | |||
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||
Notes Payable (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% |
Notes Payable (Details) - Sched
Notes Payable (Details) - Schedule of Long-term Debt Instruments - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Long-term Debt Instruments [Abstract] | ||
Credit facility | $ 49,375 | |
Unamortized debt issuance costs | (2,055) | |
Total long-term debt | 47,320 | |
Less current portion of long-term debt | 4,575 | $ 0 |
Total long-term debt, non-current portion | $ 42,745 | $ 0 |
Interest rate | 5.50% |
Stock Options, Restricted Sto_3
Stock Options, Restricted Stock and Share-Based Compensation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Stock Options, Restricted Stock and Share-Based Compensation (Details) [Line Items] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 302 days | 2 years 219 days |
Share-based Payment Arrangement, Option [Member] | ||
Stock Options, Restricted Stock and Share-Based Compensation (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | Stock options we issue generally become exercisable ratably over a three-year period or following a four year period | |
2015 Directors Plan [Member] | ||
Stock Options, Restricted Stock and Share-Based Compensation (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 500,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 80,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 124,079 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount (in Dollars) | $ 1,356,423 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 41 months | |
2016 Employee LT Equity Incentive Plan [Member] | ||
Stock Options, Restricted Stock and Share-Based Compensation (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,000,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,695,928 | |
Long-Term Equity Incentive Plans [Member] | Share-based Payment Arrangement, Option [Member] | ||
Stock Options, Restricted Stock and Share-Based Compensation (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 90 days |
Stock Options, Restricted Sto_4
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Abstract] | ||
Share-based compensation expense | $ 2,415 | $ 1,269 |
Stock Options, Restricted Sto_5
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Compensation, Stock Options, Activity - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Share-based Compensation, Stock Options, Activity [Abstract] | |||
Number of Shares, Outstanding | 2,585,210 | 2,536,320 | |
Weighted Average Exercise Price, Outstanding | $ 3.34 | $ 3.53 | |
Weighted Average Remaining Contractual Term, Outstanding | 6 years 281 days | 8 years 251 days | 6 years 354 days |
Aggregate Intrinsic Value, Outstanding | $ 1,015 | $ 2,464 | |
2018 | |||
Number of Shares, Granted | 716,500 | 1,052,737 | |
Weighted Average Exercise Price, Granted | $ 8.01 | $ 3.87 | |
Number of Shares, Forfeitures | (360,006) | (896,479) | |
Weighted Average Exercise Price, Forfeitures | $ 2.95 | $ 3.58 | |
Number of Shares, Exercised | (1,329,030) | (205,148) | |
Weighted Average Exercise Price, Exercised | $ 3.46 | $ 2.55 | |
2019 | |||
Number of Shares, Exercisable | 348,979 | ||
Weighted Average Exercise Price, Exercisable | $ 3.92 | ||
Weighted Average Remaining Contractual Term, Exercisable | 7 years 262 days | ||
Aggregate Intrinsic Value, Exercisable | $ 2,062 | ||
Number of Shares, Outstanding | 1,563,784 | 2,536,320 | |
Weighted Average Exercise Price, Outstanding | $ 5.78 | $ 3.53 | |
Aggregate Intrinsic Value, Outstanding | $ 6,372 | $ 2,464 |
Stock Options, Restricted Sto_6
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Abstract] | ||
Weighted average fair value of options granted during the year (in Dollars per share) | $ 3.31 | $ 1.57 |
Intrinsic value of options exercised during the year | $ 10,268,977 | $ 266,010 |
Cash received from stock options exercised during the year | $ 4,604,137 | $ 522,189 |
Number of options that vested during the year (in Shares) | 903,390 | 555,574 |
Fair value of options that vested during the year | $ 1,435,882 | $ 929,480 |
Unrecognized compensation expense related to non-vested options at end of year | $ 2,621,209 | $ 1,874,762 |
Weighted average years over which non-vested option expense will be recognized | 2 years 302 days | 2 years 219 days |
Stock Options, Restricted Sto_7
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plan - shares | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 30, 2017 |
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plan [Line Items] | |||
Options Outstanding | 1,563,784 | 2,536,320 | 2,585,210 |
2010 Employee LT Equity Incentive Plan [Member] | |||
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plan [Line Items] | |||
Options Outstanding | 50,638 | ||
2016 Employee LT Equity Incentive Plan [Member] | |||
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plan [Line Items] | |||
Options Outstanding | 1,513,146 |
Stock Options, Restricted Sto_8
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Underlying Shares Outstanding (in Shares) | shares | 1,563,784 |
Options Exercisable, Number of Underlying Shares (in Shares) | shares | 348,979 |
$1.43 - $2.35 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | $ 1.43 |
Range of Exercise Prices, Upper Limit | $ 2.35 |
Underlying Shares Outstanding (in Shares) | shares | 13,004 |
Options Outstanding, Weighted Average Remaining Contractual Life | 2 years 324 days |
Options Outstanding, Weighted Average Exercise Price | $ 1.75 |
Options Exercisable, Number of Underlying Shares (in Shares) | shares | 13,004 |
Options Exercisable, Weighted Average Exercise Price | $ 1.75 |
$2.39 - $3.59 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 2.39 |
Range of Exercise Prices, Upper Limit | $ 3.59 |
Underlying Shares Outstanding (in Shares) | shares | 227,614 |
Options Outstanding, Weighted Average Remaining Contractual Life | 8 years 51 days |
Options Outstanding, Weighted Average Exercise Price | $ 3.46 |
Options Exercisable, Number of Underlying Shares (in Shares) | shares | 75,653 |
Options Exercisable, Weighted Average Exercise Price | $ 3.31 |
$3.60 - $5.90 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 3.60 |
Range of Exercise Prices, Upper Limit | $ 5.90 |
Underlying Shares Outstanding (in Shares) | shares | 622,666 |
Options Outstanding, Weighted Average Remaining Contractual Life | 8 years 98 days |
Options Outstanding, Weighted Average Exercise Price | $ 4.13 |
Options Exercisable, Number of Underlying Shares (in Shares) | shares | 260,322 |
Options Exercisable, Weighted Average Exercise Price | $ 4.21 |
$6.83 - $10.40 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 6.83 |
Range of Exercise Prices, Upper Limit | $ 10.40 |
Underlying Shares Outstanding (in Shares) | shares | 684,500 |
Options Outstanding, Weighted Average Remaining Contractual Life | 9 years 124 days |
Options Outstanding, Weighted Average Exercise Price | $ 7.98 |
Options Exercisable, Number of Underlying Shares (in Shares) | shares | 0 |
Options Exercisable, Weighted Average Exercise Price | $ 0 |
$10.70 - $13.29 [Member] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 10.70 |
Range of Exercise Prices, Upper Limit | $ 13.29 |
Underlying Shares Outstanding (in Shares) | shares | 16,000 |
Options Outstanding, Weighted Average Remaining Contractual Life | 9 years 9 months |
Options Outstanding, Weighted Average Exercise Price | $ 12.03 |
Options Exercisable, Number of Underlying Shares (in Shares) | shares | 0 |
Options Exercisable, Weighted Average Exercise Price | $ 0 |
Stock Options, Restricted Sto_9
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Abstract] | ||
Expected volatility | 47.00% | 48.00% |
Expected annual dividend yield | 1.50% | 1.50% |
Risk free rate of return | 2.22% | 2.88% |
Expected option term (years) | 6 years 83 days | 5 years 120 days |
Stock Options, Restricted St_10
Stock Options, Restricted Stock and Share-Based Compensation (Details) - Nonvested Restricted Stock Shares Activity - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Nonvested Restricted Stock Shares Activity [Abstract] | |||
Restricted Shares Outstanding | 184,079 | 100,000 | 80,000 |
Restricted Shares Outstanding | $ 9.32 | $ 4.06 | $ 4.24 |
2018 | |||
Number of Shares, Shares granted with restrictions | 204,079 | 100,000 | |
Grant Date Fair Value Per Share, Shares granted with restrictions | $ 9.27 | $ 4.06 | |
Number of Shares, Shares vested and restrictions removed | (120,000) | (80,000) | |
Grant Date Fair Value Per Share, Shares vested and restrictions removed | $ 4.86 | $ 4.24 | |
Total Fair Value of Shares That Vested, Shares vested and restrictions removed | $ 1,283,600 | $ 297,600 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Taxes (Details) [Line Items] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Deferred Tax Assets, Tax Credit Carryforwards, Research | $ 150,000 | $ 194,000 |
Research Tax Credit Carryforward [Member] | ||
Income Taxes (Details) [Line Items] | ||
Deferred Tax Assets, Tax Credit Carryforwards, Research | $ 150,000 | |
Minimum [Member] | Research Tax Credit Carryforward [Member] | ||
Income Taxes (Details) [Line Items] | ||
Franchise Tax Credit Carryforwards Expiration Date | 2034 | |
Maximum [Member] | Research Tax Credit Carryforward [Member] | ||
Income Taxes (Details) [Line Items] | ||
Franchise Tax Credit Carryforwards Expiration Date | 2039 |
Income Taxes (Details) - Sched
Income Taxes (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Components of Income Tax Expense (Benefit) [Abstract] | ||
Federal | $ 1,685 | $ 993 |
Federal | 53 | (21) |
Federal | 1,738 | 972 |
State | 378 | 238 |
State | (151) | 17 |
State | 227 | 255 |
Total | 2,063 | 1,231 |
Total | (98) | (4) |
Total | $ 1,965 | $ 1,227 |
Income Taxes (Details) - Sch_2
Income Taxes (Details) - Schedule of Effective Income Tax Rate Reconciliation - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Effective Income Tax Rate Reconciliation [Abstract] | ||
Income tax expense at federal statutory rate | $ 3,199 | $ 1,025 |
Increase (decrease) in taxes resulting from: | ||
State taxes, net of federal benefit | 128 | 218 |
Stock based compensation | (1,585) | 182 |
R&D tax credit uncertain tax position (net) | (89) | (46) |
Research and development credit | 0 | (72) |
Executive compensation | 461 | 0 |
Foreign derived intangible income | (184) | (105) |
Other | 35 | 25 |
Income tax expense per the statement of operations | $ 1,965 | $ 1,227 |
Income Taxes (Details) - Sch_3
Income Taxes (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||
Deferred revenue | $ 672 | $ 809 |
Right-of-use operating lease asset | 609 | |
Share-based compensation | 200 | 329 |
Compensation and benefits | 123 | 49 |
Texas franchise tax R&D credit | 150 | 194 |
Allowance for doubtful accounts | 37 | 37 |
State deferred tax asset | 45 | 45 |
Tangible assets | 24 | 0 |
Accrued expenses not deducted for tax | 8 | 6 |
Valuation allowance | 0 | (194) |
Total deferred tax assets | 1,868 | 1,275 |
Deferred tax liabilities: | ||
Right-of-use operating lease liability | 610 | 0 |
Intangible assets | 567 | 667 |
Deferred expenses | 198 | 213 |
Total gross deferred tax liabilities | 1,375 | 880 |
Net deferred tax assets | $ 493 | $ 395 |
Income Taxes (Details) - Sch_4
Income Taxes (Details) - Schedule of Unrecognized Tax Benefits Roll Forward - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Unrecognized Tax Benefits Roll Forward [Abstract] | ||
Balance, beginning of year | $ 113 | $ 158 |
Balance, end of year | 24 | 113 |
Increases for tax positions related to the current year | 0 | 0 |
Increases for tax positions related to prior years | 0 | 2 |
Decreases for tax positions due to expiring statutes | $ (89) | $ (47) |
Earnings per Share (Details) -
Earnings per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Numerator for basic and diluted earnings per share: | ||
Net income (in Dollars) | $ 13,267 | $ 3,654 |
Denominators for basic and diluted earnings per share: | ||
Weighted average shares outstanding - basic | 17,424 | 20,721 |
Dilutive potential common shares | ||
Stock options and awards | 1,101 | 296 |
Denominator for diluted earnings per share | 18,525 | 21,017 |
Net income per common share - basic (in Dollars per share) | $ 0.76 | $ 0.18 |
Net income per common share – diluted (in Dollars per share) | $ 0.72 | $ 0.17 |
Dividends (Details) - Schedule
Dividends (Details) - Schedule of Dividends Payable - $ / shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Dividend Paid [Member] | ||
Dividends Payable [Line Items] | ||
Dividend per share of common stock | $ 0.045 | $ 0.045 |
Special Dividend [Member] | ||
Dividends Payable [Line Items] | ||
Dividend per share of common stock | $ 3.850 | $ 0 |
Stockholder's Equity (Details)
Stockholder's Equity (Details) - USD ($) $ in Millions | Oct. 29, 2018 | Sep. 19, 2018 | Aug. 20, 2018 |
Tender Offer [Member] | |||
Stockholder's Equity (Details) [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 15 | ||
Stock Repurchased During Period, Shares | 896,348 | 4,011,013 | |
Stock Repurchased During Period, Value | $ 4 | $ 16.8 | |
Stock Repurchase Program, Percentage Increase | 2.00% | ||
Increase in Shares Repurchased [Member] | |||
Stockholder's Equity (Details) [Line Items] | |||
Stock Repurchased During Period, Shares | 439,585 |
Employee Benefit Plan (Details)
Employee Benefit Plan (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Text Block Supplement [Abstract] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 141,000 | $ 132,000 |
Segment and Geographic Disclo_2
Segment and Geographic Disclosures (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Segment and Geographic Disclosures (Details) [Line Items] | ||
Number of Operating Segments | 1 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Segment and Geographic Disclosures (Details) [Line Items] | ||
Concentration Risk, Percentage | 16.00% | 14.00% |
UNITED STATES | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Segment and Geographic Disclosures (Details) [Line Items] | ||
Concentration Risk, Percentage | 76.00% | 74.00% |
Concentration of Business Vol_2
Concentration of Business Volume and Credit Risk (Details) - Revenue Benchmark [Member] | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Customer Concentration Risk [Member] | ||
Concentration of Business Volume and Credit Risk (Details) [Line Items] | ||
Concentration Risk, Percentage | 16.00% | 14.00% |
Geographic Concentration Risk [Member] | ||
Concentration of Business Volume and Credit Risk (Details) [Line Items] | ||
Concentration Risk, Percentage | 24.00% | 26.00% |