Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2018 | Feb. 06, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | MAM SOFTWARE GROUP, INC. | |
Entity Central Index Key | 832,488 | |
Trading Symbol | mams | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 12,604,670 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Current Assets | ||
Cash and cash equivalents at end of period | $ 3,908 | $ 4,171 |
Accounts receivable, net of allowance of $243 and $224, respectively | 4,786 | 5,010 |
Inventories | 173 | 170 |
Prepaid expenses and other current assets | 1,295 | 1,270 |
Total Current Assets | 10,162 | 10,621 |
Property and Equipment, Net | 445 | 480 |
Other Assets | ||
Goodwill | 8,072 | 8,280 |
Intangible assets, net | 508 | 568 |
Software development costs, net | 9,685 | 8,889 |
Deferred income taxes | 1,413 | 1,251 |
Other long-term assets | 491 | 545 |
TOTAL ASSETS | 30,776 | 30,634 |
Current Liabilities | ||
Accounts payable | 1,163 | 1,318 |
Accrued expenses and other liabilities | 1,097 | 1,201 |
Accrued payroll and related expenses | 1,244 | 2,146 |
Current portion of long-term debt | 2,025 | 1,811 |
Current portion of deferred revenues | 2,210 | 1,885 |
Sales tax payable | 857 | 910 |
Income tax payable | 721 | 669 |
Total Current Liabilities | 9,317 | 9,940 |
Long-Term Liabilities | ||
Deferred revenues, non-current | 1,386 | 1,146 |
Deferred income taxes | 730 | 789 |
Income tax payable, net of current portion | 232 | 232 |
Long-term debt, net of current portion | 3,590 | 4,581 |
Other long-term liabilities | 305 | 426 |
Total Liabilities | 15,560 | 17,114 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Preferred stock: Par value $0.0001 per share; 2,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock: Par value $0.0001 per share; 18,000 shares authorized, 12,633 shares issued and 12,588 shares outstanding at December 31, 2018 and 12,593 shares issued and 12,588 shares outstanding at June 30, 2018 | 1 | 1 |
Additional paid-in capital | 15,123 | 14,768 |
Accumulated other comprehensive loss | (3,723) | (3,236) |
Retained earnings | 4,138 | 2,003 |
Treasury stock at cost, 45 and 5 shares at December 31, 2018 and June 30, 2018, respectively | (323) | (16) |
Total Stockholders’ Equity | 15,216 | 13,520 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 30,776 | $ 30,634 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Accounts receivable, allowance | $ 243 | $ 224 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 2,000 | 2,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 18,000 | 18,000 |
Common stock, shares issued (in shares) | 12,633 | 12,593 |
Common stock, shares outstanding (in shares) | 12,588 | 12,588 |
Treasury stock, shares (in shares) | 45 | 5 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net revenues | $ 8,956 | $ 8,500 | $ 18,256 | $ 17,138 |
Cost of revenues | 4,066 | 3,999 | 8,131 | 7,806 |
Gross Profit | 4,890 | 4,501 | 10,125 | 9,332 |
Operating Expenses | ||||
Research and development | 1,431 | 1,192 | 2,646 | 2,195 |
Sales and marketing | 1,000 | 986 | 1,773 | 1,739 |
General and administrative | 1,499 | 1,442 | 3,084 | 2,932 |
Depreciation and amortization | 54 | 58 | 111 | 116 |
Total Operating Expenses | 3,984 | 3,678 | 7,614 | 6,982 |
Operating Income | 906 | 823 | 2,511 | 2,350 |
Other Income (Expense) | ||||
Interest expense, net | (92) | (109) | (183) | (213) |
Total other expense, net | (92) | (109) | (183) | (213) |
Income before provision for income taxes | 814 | 714 | 2,328 | 2,137 |
Provision for income taxes | 110 | 793 | 413 | 1,102 |
Net Income (Loss) | $ 704 | $ (79) | $ 1,915 | $ 1,035 |
Earnings (loss) per share attributed to common stockholders – basic (in dollars per share) | $ 0.06 | $ (0.01) | $ 0.16 | $ 0.09 |
Earnings (loss) per share attributed to common stockholders – diluted (in dollars per share) | $ 0.06 | $ (0.01) | $ 0.16 | $ 0.09 |
Weighted average common shares outstanding – basic (in shares) | 12,156 | 11,825 | 12,150 | 11,820 |
Weighted average common shares outstanding – diluted (in shares) | 12,199 | 11,825 | 12,207 | 12,151 |
Net Income (Loss) | $ 704 | $ (79) | $ 1,915 | $ 1,035 |
Foreign currency translation gain (loss) | (315) | 95 | (487) | 360 |
Total Comprehensive Income | $ 389 | $ 16 | $ 1,428 | $ 1,395 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 1,915 | $ 1,035 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Bad debt expense | 76 | 5 |
Depreciation and amortization | 248 | 283 |
Amortization of debt issuance costs | 17 | 22 |
Deferred income taxes | (65) | 744 |
Stock-based compensation expense | 364 | 231 |
Changes in assets and liabilities: | ||
Accounts receivable | 110 | 392 |
Prepaid expenses and other assets | 133 | 140 |
Income tax receivable | 170 | |
Accounts payable | (132) | (395) |
Accrued expenses and other liabilities | (967) | (297) |
Income tax payable | (203) | 358 |
Deferred revenues | 267 | 422 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,763 | 3,110 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (50) | (60) |
Capitalized software development costs | (567) | (864) |
NET CASH USED IN INVESTING ACTIVITIES | (617) | (924) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayment of long-term debt | (794) | (667) |
Repayment of contingent consideration | (86) | |
Repurchase of common stock for treasury | (307) | |
Common stock surrendered to pay for tax withholding | (27) | |
NET CASH USED IN FINANCING ACTIVITIES | (1,214) | (667) |
Effect of exchange rate changes | (195) | 31 |
Net change in cash and cash equivalents | (263) | 1,550 |
Cash and cash equivalents at beginning of period | 4,171 | 1,260 |
Cash and cash equivalents at end of period | 3,908 | 2,810 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Issuance of common stock in settlement of accrued liabilities | $ 49 | $ 48 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | NOTE 1. The condensed consolidated financial statements included herein have been prepared by MAM Software Group, Inc. (“MAM” or the “Company”), without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Certain information normally included in the condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US”) has been omitted pursuant to such rules and regulations. However, the Company believes that the disclosures are adequate to make the information presented not Operating results for the six December 31, 2018 not may June 30, 2019. 10 June 30, 2018, September 14, 2018. Recent Accounting Pronouncements Recently Adopted Accounting Standards In May 2017, 2017 09, Compensation - Stock Compensation (Topic 718 718. 2017 09 July 1, 2018, not In May 2014, 2014 09, Revenue from Contracts with Customers 606 Revenue Recognition 605 985 605 Software - Revenue Recognition 605 985 605 605” 606, 606 The Company adopted Topic 606 July 1, 2018, first 2019, 2019 606. not not 606 606. The most significant impacts of the adoption of Topic 606 ● Revenue related to professional services for perpetual license contracts are recognized on percentage of hours incurred on the contract compared to the estimated total hours to complete, as compared to upon completion under prior GAAP. At adoption, the Company increased retained earnings and accounts receivable by $0.1 ● Rental contracts, for which customers pay a monthly fee for an on-premise software license and support/maintenance are accounted for as perpetual licenses contracts with a financing component, rather than on a monthly subscription basis under prior GAAP. At adoption, the Company increased retained earnings, and other current assets and other long-term assets by $0.2 ● Set-up fee revenue and associated costs pertaining to implementation of rental customers are no $0.1 $0.2 $0.1 ● Funded software development from a customer related to a capitalized software development project is now recognized as deferred revenue until the customer implements the software, and recognized over the life of the customer contract, as compared to an offset to capitalized software costs under prior GAAP. At adoption, the Company increased deferred revenue and increased capitalized software by $0.5 The tax impact of the above adjustments was assessed and, at adoption, the Company decreased retained earnings and decreased deferred tax liability by $0.15 $0.3 Adjustments to beginning consolidated balance sheet accounts The following table presents the cumulative effect adjustments, net of income tax effects, to beginning consolidated balance sheet accounts for Topic 606 first 2019 June 30, Topic July 1, 2018 606 2018 ASSETS Accounts receivable, net $ 5,010 $ 64 $ 5,074 Prepaid expenses and other current assets $ 1,270 $ 94 $ 1,364 Total Current Assets $ 10,621 $ 158 $ 10,779 Software development costs, net $ 8,889 $ 516 $ 9,405 Deferred income taxes $ 1,251 $ 121 $ 1,372 Other long-term assets $ 545 $ 41 $ 586 TOTAL ASSETS $ 30,634 $ 836 $ 31,470 LIABILITIES AND STOCKHOLDERS’ EQUITY Current portion of deferred revenues $ 1,885 $ 556 $ 2,441 Income tax payable $ 669 $ 272 $ 941 Total Current Liabilities $ 9,940 $ 828 $ 10,768 Deferred revenues, net of current portion $ 1,146 $ (213 ) $ 933 Total Liabilities $ 17,114 $ 616 $ 17,730 Stockholders' Equity Retained earnings $ 2,003 $ 220 $ 2,223 Total Stockholders' Equity $ 13,520 $ 220 $ 13,740 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 30,634 $ 836 $ 31,470 The following table summarizes the effects of adopting Topic 606 December 31, 2018 ( As Reported Under Topic 606 Adjustments Balances Under Prior GAAP ASSETS Accounts receivable, net $ 4,786 $ (82 ) $ 4,704 Prepaid expenses and other current assets $ 1,295 $ (111 ) $ 1,184 Total Current Assets $ 10,162 $ (193 ) $ 9,969 Software development costs, net $ 9,685 $ (718 ) $ 8,967 Deferred income taxes $ 1,413 $ (134 ) $ 1,279 Other long-term assets $ 491 $ (43 ) $ 448 TOTAL ASSETS $ 30,776 $ (1,088 ) $ 29,688 LIABILITIES AND STOCKHOLDERS’ EQUITY Current portion of deferred revenues $ 2,210 $ (146 ) $ 2,064 Income tax payable $ 721 $ (303 ) $ 418 Total Current Liabilities $ 9,317 $ (449 ) $ 8,868 Deferred revenues, net of current portion $ 1,386 $ (377 ) $ 1,009 Deferred income taxes $ 730 $ (1 ) $ 729 Total Liabilities $ 15,560 $ (827 ) $ 14,733 Retained earnings $ 4,138 $ (261 ) $ 3,877 Total Stockholders’ Equity $ 15,216 $ (261 ) $ 14,955 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 30,776 $ (1,088 ) $ 29,688 The following table summarizes the effects of adopting Topic 606 three December 31, 2018 ( As Reported Under Topic 606 Adjustments Balances Under Prior GAAP Net revenues $ 8,956 $ 20 $ 8,976 Cost of revenues 4,066 4 4,070 Gross Profit 4,890 16 4,906 Total Operating Expenses 3,984 - 3,984 Operating Income 906 16 922 Other Income (Expense) Interest expense, net (92 ) (1 ) (93 ) Total other expense, net (92 ) (1 ) (93 ) Income before provision for income taxes 814 15 829 Provision for income taxes 110 (6 ) 104 Net Income $ 704 $ 21 $ 725 Earnings per share attributed to common stockholders – basic $ 0.06 $ - $ 0.06 Earnings per share attributed to common stockholders – diluted $ 0.06 $ - $ 0.06 Net Income $ 704 $ 21 $ 725 Foreign currency translation gain (loss) (315 ) - (315 ) Total Comprehensive Income $ 389 $ 21 $ 410 The following table summarizes the effects of adopting Topic 606 six December 31, 2018 ( As Reported Under Topic 606 Adjustments Balances Under Prior GAAP Net revenues $ 18,256 $ (59 ) $ 18,197 Cost of revenues 8,131 (4 ) 8,127 Gross Profit 10,125 (55 ) 10,070 Total Operating Expenses 7,614 - 7,614 Operating Income 2,511 (55 ) 2,456 Other Income (Expense) Interest expense, net (183 ) (7 ) (190 ) Total other expense, net (183 ) (7 ) (190 ) Income before provision for income taxes 2,328 (62 ) 2,266 Provision for income taxes 413 (21 ) 392 Net Income $ 1,915 $ (41 ) $ 1,874 Earnings per share attributed to common stockholders – basic $ 0.16 $ (0.01 ) $ 0.15 Earnings per share attributed to common stockholders – diluted $ 0.16 $ (0.01 ) $ 0.15 Net Income $ 1,915 $ (41 ) $ 1,874 Foreign currency translation gain (loss) (487 ) - (487 ) Total Comprehensive Income $ 1,428 $ (41 ) $ 1,387 The following table summarizes the effects of adopting Topic 606 six December 31, 2018 ( As Reported Under Topic 606 Adjustments Balances Under Prior GAAP CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 1,915 $ (41 ) $ 1,874 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes $ (65 ) $ (24 ) $ (89 ) Changes in assets and liabilities: Accounts receivable $ 110 $ 18 $ 128 Prepaid expenses and other assets $ 133 $ 20 $ 153 Income tax payable $ (203 ) $ 2 $ (201 ) Deferred revenues $ 267 $ (177 ) $ 90 NET CASH PROVIDED BY OPERATING ACTIVITIES $ 1,763 $ (202 ) $ 1,561 CASH FLOWS FROM INVESTING ACTIVITIES: Capitalized software development costs $ (567 ) $ 202 $ (365 ) NET CASH USED IN INVESTING ACTIVITIES $ (617 ) $ 202 $ (415 ) Cash and cash equivalents at end of period $ 3,908 $ - $ 3,908 Accounting Standards Not In January 2017, 2017 04, 350 two not 2017 04 June 30, 2021. not 2017 04 In February 2016, 2016 02, 12 first 2020. 2016 02 2016 02. |
Note 2 - Nature of Operations a
Note 2 - Nature of Operations and Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. MAM Software Group, Inc. is a leading provider of integrated information management solutions and services and a leading provider of cloud-based software solutions for the automotive aftermarket sector. The Company conducts its businesses through its wholly-owned subsidiaries with operations in Europe and North America. MAM Software Ltd. (“MAM Ltd.”) is based in Tankersley, Barnsley, United Kingdom (“UK”), Origin Software Solutions, Ltd. (“Origin”) is based in the UK (MAM Ltd. and Origin are collectively referred to as “MAM UK”), and MAM Software, Inc. (“MAM NA”) is based in the US in Blue Bell, Pennsylvania. Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements. Concentrations of Credit Risk The Company has no Cash and Cash Equivalents In the US, the Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. may $250,000 In the UK, the Company maintains cash balances at financial institutions that are insured by the Financial Services Compensation Scheme up to 85,000GBP. may 85,000GBP The Company maintains its cash accounts at financial institutions which it believes to be credit worthy. The Company considers all highly liquid debt instruments purchased with a maturity of three not Customers The Company performs periodic evaluations of its customers and maintains allowances for potential credit losses as deemed necessary. The Company generally does not may No 10% December 31, 2018 June 30, 2018. No 10% three six December 31, 2018 2017. Segment Reporting The Company operates in one two 280 10 50, Segment Reporting, one 1. The products and services are software and professional services; 2. The products are produced through professional services; 3. The customers for these products are primarily for the automotive aftermarket; 4. The methods used to distribute these products are via software that the customer can host locally or that the Company will host; and 5. They both operate in a non-regulatory environment. Geographic Concentrations The Company conducts business in the US and Canada (US and Canada are collectively referred to as the "NA Market"), and the UK and Ireland (UK and Ireland are collectively referred to as the “UK Market”). For customers headquartered in those respective countries, the Company derived approximately 66% 32% 1% 1% three December 31, 2018, 65% 33% 1% 1% three December 31, 2017. The Company derived approximately 64% 34% 1% 1% six December 31, 2018, 63% 35% 1% 1% six December 31, 2017. At December 31, 2018, 78% 22% June 30, 2018, 76% 24% Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the US requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by the Company’s management include, but are not Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and debt. Financial assets and liabilities that are re-measured and reported at fair value at each reporting period are classified and disclosed in one three • Level 1 • Level 2 1 • Level 3 Determining into which category within the hierarchy an asset or liability belong may The Company classified its contingent acquisition consideration liability in connection with the acquisition of Origin within the Level 3 not $0.4 $0.5 December 31, 2018 June 30, 2018, Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on specific identification of customer accounts and the Company's best estimate of the likelihood of potential loss, taking into account such factors as the financial condition and payment history of major customers. The Company evaluates the collectability of its receivables at least quarterly. The allowance for doubtful accounts is subject to estimates based on the historical actual costs of bad debt experienced, total accounts receivable amounts, age of accounts receivable and any knowledge of the customers' ability or inability to pay outstanding balances. If the financial condition of the Company's customers were to deteriorate, resulting in impairment of their ability to make payments, additional allowances may Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first first Property and Equipment Property and equipment are stated at cost, and are being depreciated using the straight-line method over the estimated useful lives of the related assets, ranging from three five $34,000 $37,000 three December 31, 2018 2017, $71,000 $75,000 six December 31, 2018 2017, Software Development Costs Costs incurred to develop computer software products to be sold or otherwise marketed are charged to expense until technological feasibility of the product has been established. Once technological feasibility has been established, computer software development costs (consisting primarily of internal labor costs) are capitalized and reported at the lower of amortized cost or estimated net realizable value. Purchased software development cost is recorded at its estimated fair market value. When a product is ready for general release, its capitalized costs are amortized on a product-by-product basis. The annual amortization is the greater of the amounts of: the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product; and, the straight-line method over the remaining estimated economic life (a period of three ten $68,000 $83,000 three December 31, 2018 2017, $137,000 $167,000 six December 31, 2018 2017, Amortizable Intangible Assets Amortizable intangible assets consist of completed software technology, customer contracts/relationships, automotive data services, and acquired intellectual property, and are recorded at cost. Completed software technology and customer contracts/relationships are amortized using the straight-line method over their estimated useful lives of 9 10 20 10 $20,000 $21,000 three December 31, 2018 2017, $40,000 $41,000 six December 31, 2018 2017, Goodwill Goodwill is not Goodwill is subject to impairment reviews by applying a fair-value-based test at the reporting unit level, which generally represents operations one December 31, 2018, not no not For the six December 31, 2018 2017, In thousands For the Six Months Ended December 31, 2018 2017 Beginning Balance $ 8,280 $ 8,191 Effect of exchange rate changes (208 ) 216 Ending Balance $ 8,072 $ 8,407 Long-Lived Assets The Company’s management assesses the recoverability of long-lived assets (other than goodwill discussed above) upon the occurrence of a triggering event by determining whether the carrying value of long-lived assets can be recovered through projected undiscounted future cash flows over their remaining useful lives. The amount of long-lived asset impairment, if any, is measured based on fair value and is charged to operations during the period in which long-lived asset impairment is determined by management. At December 31, 2018, no no not Debt Issuance Costs Debt issuance costs represent costs incurred in connection with the issuance of long-term debt. Debt issuance costs are amortized over the term of the financing instrument using the effective interest method. Debt issuance costs are presented in the condensed consolidated balance sheets as an offset to current and non-current portions of long-term debt. Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC No. 718, Compensation - Stock Compensation 718” 718 no Revenue Recognition MAM offers its software using the same underlying technology via two not The Company generates revenue through sales of licenses and support and maintenance provided to its on-premises customers, and through subscriptions of its cloud-based software. MAM offers professional services to both its on-premises and cloud customers to assist them with the customization, implementation, and training. The Company determines revenue recognition through the following steps: - Identification of the contract, or contracts, with a customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, we satisfy a performance obligation. The Company records the amount of revenue and related costs by considering whether the entity is a principal (gross presentation) or an agent (net presentation) by evaluating the nature of its promise to the customer. Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. The Company’s contracts which contain multiple performance obligations generally consist of the initial purchase of subscription or licenses, a professional services engagement, and support and maintenance engagement. License purchases generally have multiple performance obligations as customers also purchase support and maintenance in addition to the licenses. The Company’s single performance obligation arrangements are typically support and maintenance renewals, subscription renewals, and professional services engagements. For contracts with multiple performance obligations where the contracted price differs from the standalone selling price (“SSP”) for any distinct good or service, the Company may Subscription Subscription revenue is recognized ratably over the initial subscription period committed to by the customer commencing when the cloud environment is made available to the customer. The initial subscription period is typically 36 60 30 Software Licenses Transfer of control for software is considered to have occurred upon electronic delivery of the license key that provides immediate availability of the product to the customer. The Company’s typical payment terms tend to vary but its standard payment terms are within 30 Support and Maintenance Revenue from support services and product updates, referred to as support and maintenance revenue, is recognized ratably over the term of the contract period, which is typically 12 36 30 Professional Services Revenue from professional services is typically comprised of implementation, development, training or other consulting services. Professional services are generally sold on an hourly/daily rate or fixed fee basis, and can include services ranging from software installation to data conversion, basic customizations, and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for hourly arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by hours incurred to date, compared to total estimated hours to complete the services project. Management applies judgment when estimating project status and the time necessary to complete the services projects. A number of internal and external factors can affect these estimates, including changes to specifications, testing and training requirements. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due 30 Funded Software Arrangements The Company may not not Disaggregated Revenue The Company disaggregates revenue from contracts with customers by geography and type of the revenue arrangement, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s revenue by geography and type is as follows (in thousands): For the Three Months Ended December 31, Net Revenues 2018 2017 MAM UK: Recurring $ 5,118 $ 4,964 Non-recurring 862 720 Total MAM UK Revenues 5,980 5,684 MAM NA: Recurring 2,498 2,293 Non-recurring 478 523 Total MAM NA Revenues 2,976 2,816 Total Net Revenues $ 8,956 $ 8,500 For the Six Months Ended December 31, Net Revenues 2018 2017 MAM UK: Recurring $ 10,310 $ 9,792 Non-recurring 1,617 1,233 Total MAM UK Revenues 11,927 11,025 MAM NA: Recurring 4,977 4,550 Non-recurring 1,352 1,563 Total MAM NA Revenues 6,329 6,113 Total Net Revenues $ 18,256 $ 17,138 Significant Judgments More judgments and estimates are required under Topic 606 605. 606 may may Judgment is required to determine the SSP for each distinct performance obligation. The Company rarely licenses or sells products on a stand-alone basis, so the Company is required to estimate the range of SSPs for each performance obligation. In instances where SSP is not not may Revenue is recognized over time for the Company’s subscription, support and maintenance, and professional services that are separate performance obligations. For the Company’s professional services, revenue is recognized over time, generally using hours expended to measure progress. Judgment is required in estimating project status and the hours necessary to complete projects. A number of internal and external factors can affect these estimates, including changes to specifications, testing and training requirements. If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as one Contract Balances The timing of revenue recognition may not not The contract assets indicated below are presented as prepaid expenses and other current assets and other long-term assets in the condensed consolidated balance sheets. These assets primarily relate to professional services and subscriptions, and consist of the Company’s rights to consideration for goods or services transferred but not December 31, 2018. The Company’s contract balances are as follows (in thousands): As of December 31, 2018 July 1, 2018 Contract assets, short-term $ 104 $ 94 Contract assets, long-term 173 154 Total contract assets $ 277 $ 248 Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $22.9 December 31, 2018, $11.4 12 not 12 not 12 Deferred Revenue MAM typically invoices its customers for subscription and support and maintenance fees on a monthly basis, with payment due 30 twelve Deferred revenues consisted of the following (in thousands): As of December 31, 2018 June 30, 2018 Deferred professional services $ 1,120 $ 885 Deferred license 304 305 Deferred support 748 590 Deposits 1,386 1,146 Deferred other revenue 38 105 Total deferred revenues 3,596 3,031 Less deferred revenues, current (2,210 ) (1,885 ) Deferred revenues, non-current $ 1,386 $ 1,146 During the six December 31, 2018, $0.1 606, Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under Topic 606 606: Application ● The Company does not one ● The Company generally expenses sales commissions when incurred when the amortization period would have been one ● The Company does not Modified Retrospective Transition Adjustments ● For contract modifications, the Company reflected the aggregate effect of all modifications that occurred prior to the adoption date when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to satisfied and unsatisfied performance obligations for the modified contract at transition. Costs to Obtain and Fulfill a Contract The Company’s incremental direct costs of obtaining a contract consist of sales commissions which are amortized ratably over the term of economic benefit which the Company has determined to be the life of the contract for subscription customers. These deferred costs are classified as current or non-current based on the timing of when the Company expects to recognize the expense. Incremental costs related to initial support and renewals are expensed as incurred because the term of economic benefit is one $0.3 December 31, 2018 June 30, 2018. three six December 31, 2018, $15,000 $29,000, Cost of Revenues Cost of revenues primarily consists of expenses related to delivering our service and providing support, amortization expense associated with capitalized software related to our services, and acquired developed technologies and certain fees paid to various third third Advertising Expense The Company expenses advertising costs as incurred. For the three December 31, 2018 2017, $277,000 $224,000, six December 31, 2018 2017, $301,000 $262,000, Foreign Currency Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of the UK subsidiaries are translated into US dollars at the quarter-end exchange rates. Income and expenses are translated at an average exchange rate for the period and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The foreign currency translation gain (loss) adjustment totaled $( 0.3 $0.1 three December 31, 2018 2017, 0.5 $0.4 six December 31, 2018 2017, Foreign currency gains and losses from transactions denominated in currencies other than the respective local currencies are included in income. The Company had no Comprehensive Income Comprehensive income includes all changes in equity (net assets) during a period from non-owner sources. For the three six December 31, 2018 2017, Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. Deferred taxation is provided in full in respect of timing differences between the treatment of certain items for taxation and accounting purposes. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. ASC 740 may not 740 not may December 31, 2018 June 30, 2018, $0.2 The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Basic and Diluted Earnings Per Share Basic earnings per share (“BEPS”) is computed by dividing the net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share (“DEPS”) is computed giving effect to all dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of incremental shares issuable upon the exercise of stock options and warrants using the “treasury stock” method. The following is a reconciliation of the numerators and denominators of the BEPS and DEPS per share computation for the three six December 31, 2018 2017 For the Three Months Ended December 31, 2018 2017 Numerator: Net income (loss) $ 704 $ (79 ) Denominator: Basic weighted-average shares outstanding 12,156 11,825 Effect of dilutive securities 43 - Diluted weighted-average shares outstanding 12,199 11,825 Basic earnings (loss) per common share $ 0.06 $ (0.01 ) Diluted earnings (loss) per common share $ 0.06 $ (0.01 ) For the Six Months Ended December 31, 2018 2017 Numerator: Net income $ 1,915 $ 1,035 Denominator: Basic weighted-average shares outstanding 12,150 11,820 Effect of dilutive securities 57 331 Diluted weighted-average shares outstanding 12,207 12,151 Basic earnings per common share $ 0.16 $ 0.09 Diluted earnings per common share $ 0.16 $ 0.09 For the three six December 31, 2018, 460,178 not three December 31, 2017, 332,888 three six December 31, 2017, 450,178 not |
Note 3 - Commitments and Contin
Note 3 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 3. Legal Matters From time to time, the Company is subject to various legal claims and proceedings arising in the ordinary course of business. The ultimate disposition of such proceedings, if initiated, could have a material adverse effect on the consolidated financial position or results of operations of the Company. There are currently no Indemnities and Guarantees The Company has made certain indemnities and guarantees under which it may 5 not may not not no |
Note 4 - Stockholders' Equity
Note 4 - Stockholders' Equity | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 4. Common Stock The Company issues shares of common stock to the non-management members of the Board of Directors under the Company’s 2007 “2007 2017 “2017 three On July 3, 2017, 34,592 2017 three $220,000, On July 2, 2018, 25,524 2017 three $220,000, During the three six December 31, 2018, 6,844 14,493 2007 2017 Stock Repurchase Plan The Company’s Board of Director’s authorized the repurchase of up to $2.0 September 19, 2018 ( may December 31, 2018, 39,969 $0.3 Treasury Stock Treasury stock increased by 34,972 39,969 three six December 31, 2018, No three six December 31, 2018 2017. Stock-Based Compensation Stock-based compensation expense for restricted stock and stock issuances of $0.2 $0.1 three December 31, 2018 2017, $0.4 $0.2 six December 31, 2018 2017, A summary of the Company’s common stock option activity is presented below (shares in thousands): Options Outstanding Weighted- Number of Weighted- Average Shares Average Remaining (in Exercise Contractual thousands) Price Life (in years) Options outstanding - July 1, 2018 68 $ 1.30 Options granted - - Options exercised (18 ) 1.90 Options cancelled - - Options outstanding – December 31, 2018 50 $ 1.09 2.3 Options exercisable – December 31, 2018 50 $ 1.09 2.3 Options exercisable and vested – December 31, 2018 50 $ 1.09 2.3 During the fiscal year ended June 30, 2018, 240,000 2017 $1.5 six December 31, 2018, 10,000 2017 $0.1 A summary of the Company’s restricted common stock activity is presented below (shares in thousands): Weighted Average Number of Initial Value Price Shares Per Share Restricted stock outstanding - July 1, 2018 450 $ 4.25 Issuance of restricted stock 10 6.12 Vesting - - Forfeitures - - Restricted stock outstanding – December 31, 2018 460 $ 4.30 A summary of the vesting levels of the Company’s restricted common stock is presented below (shares in thousands): Weighted Average Number of Initial Value Price Shares Per Share 30-day VWAP per share vesting level (1): $9.00 per share 132 $ 3.26 $10.00 per share 123 $ 4.71 $11.00 per share 123 $ 4.71 $12.00 per share 82 $ 4.71 ( 1 30 Employee Stock Purchase Plan The Company has established Employee Stock Purchase Plans (“ESPP Plans”). Under the ESPP Plans, the Company will grant eligible employees the right to purchase common stock through payroll deductions. US employees purchase stock at a price equal to the lesser of 85% 85% 100% 100% 15% During the six December 31, 2018, 5,829 No three December 31, 2018. During the six December 31, 2017, 6,958 No three December 31, 2017. |
Note 5 - Long-term Debt
Note 5 - Long-term Debt | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5. Debt obligations consisted of the following at December 31, 2018 June 30, 2018: As of (in thousands) December 31, 2018 June 30, 2018 Debt obligations: Revolving loan facility $ - $ - Term loan 5,650 6,441 Equipment financing 4 7 Less: unamortized debt issuance costs (39 ) (56 ) Total 5,615 6,392 Less current portion (2,025 ) (1,811 ) Long-term debt $ 3,590 $ 4,581 On March 2, 2017, $11.5 $8.75 $2.75 2.75% 3.25%, $133,333 December 1, 2017, $158,333 December 1, 2018, $175,000 August 1, 2021. As of December 31, 2018, not not 65% December 31, 2018, |
Note 6 - Income Taxes
Note 6 - Income Taxes | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 6. On December 22, 2017, one June 30 34%, 28% June 30, 2018 21% June 30, 2018, $0.6 $0.8 $0.2 one The changes included in the Tax Act are broad and complex. The final impact of the Tax Act may one For the Three Months Ended December 31, 2018 2017 Provision for income taxes $ 110 $ 793 Effective tax rate 14 % 111 % For the Six Months Ended December 31, 2018 2017 Provision for income taxes $ 413 $ 1,102 Effective tax rate 18 % 52 % For the three six December 31, 2018, For the three six December 31, 2017, one |
Note 7 - Subsequent Events
Note 7 - Subsequent Events | 6 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 7. The Company has performed an evaluation of events occurring subsequent to December 31, 2018 10 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk The Company has no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents In the US, the Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. may $250,000 In the UK, the Company maintains cash balances at financial institutions that are insured by the Financial Services Compensation Scheme up to 85,000GBP. may 85,000GBP The Company maintains its cash accounts at financial institutions which it believes to be credit worthy. The Company considers all highly liquid debt instruments purchased with a maturity of three not |
Major Customers, Policy [Policy Text Block] | Customers The Company performs periodic evaluations of its customers and maintains allowances for potential credit losses as deemed necessary. The Company generally does not may No 10% December 31, 2018 June 30, 2018. No 10% three six December 31, 2018 2017. |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company operates in one two 280 10 50, Segment Reporting, one 1. The products and services are software and professional services; 2. The products are produced through professional services; 3. The customers for these products are primarily for the automotive aftermarket; 4. The methods used to distribute these products are via software that the customer can host locally or that the Company will host; and 5. They both operate in a non-regulatory environment. |
Geographic Concentrations [Policy Text Block] | Geographic Concentrations The Company conducts business in the US and Canada (US and Canada are collectively referred to as the "NA Market"), and the UK and Ireland (UK and Ireland are collectively referred to as the “UK Market”). For customers headquartered in those respective countries, the Company derived approximately 66% 32% 1% 1% three December 31, 2018, 65% 33% 1% 1% three December 31, 2017. The Company derived approximately 64% 34% 1% 1% six December 31, 2018, 63% 35% 1% 1% six December 31, 2017. At December 31, 2018, 78% 22% June 30, 2018, 76% 24% |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the US requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by the Company’s management include, but are not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and debt. Financial assets and liabilities that are re-measured and reported at fair value at each reporting period are classified and disclosed in one three • Level 1 • Level 2 1 • Level 3 Determining into which category within the hierarchy an asset or liability belong may The Company classified its contingent acquisition consideration liability in connection with the acquisition of Origin within the Level 3 not $0.4 $0.5 December 31, 2018 June 30, 2018, |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on specific identification of customer accounts and the Company's best estimate of the likelihood of potential loss, taking into account such factors as the financial condition and payment history of major customers. The Company evaluates the collectability of its receivables at least quarterly. The allowance for doubtful accounts is subject to estimates based on the historical actual costs of bad debt experienced, total accounts receivable amounts, age of accounts receivable and any knowledge of the customers' ability or inability to pay outstanding balances. If the financial condition of the Company's customers were to deteriorate, resulting in impairment of their ability to make payments, additional allowances may |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first first demand and production requirements. Once established, write-downs of inventories are considered permanent adjustments to the cost basis of the obsolete or excess inventories. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, and are being depreciated using the straight-line method over the estimated useful lives of the related assets, ranging from three five $34,000 $37,000 three December 31, 2018 2017, $71,000 $75,000 six December 31, 2018 2017, |
Research, Development, and Computer Software, Policy [Policy Text Block] | Software Development Costs Costs incurred to develop computer software products to be sold or otherwise marketed are charged to expense until technological feasibility of the product has been established. Once technological feasibility has been established, computer software development costs (consisting primarily of internal labor costs) are capitalized and reported at the lower of amortized cost or estimated net realizable value. Purchased software development cost is recorded at its estimated fair market value. When a product is ready for general release, its capitalized costs are amortized on a product-by-product basis. The annual amortization is the greater of the amounts of: the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product; and, the straight-line method over the remaining estimated economic life (a period of three ten $68,000 $83,000 three December 31, 2018 2017, $137,000 $167,000 six December 31, 2018 2017, |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Amortizable Intangible Assets Amortizable intangible assets consist of completed software technology, customer contracts/relationships, automotive data services, and acquired intellectual property, and are recorded at cost. Completed software technology and customer contracts/relationships are amortized using the straight-line method over their estimated useful lives of 9 10 20 10 $20,000 $21,000 three December 31, 2018 2017, $40,000 $41,000 six December 31, 2018 2017, |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill is not Goodwill is subject to impairment reviews by applying a fair-value-based test at the reporting unit level, which generally represents operations one December 31, 2018, not no not For the six December 31, 2018 2017, In thousands For the Six Months Ended December 31, 2018 2017 Beginning Balance $ 8,280 $ 8,191 Effect of exchange rate changes (208 ) 216 Ending Balance $ 8,072 $ 8,407 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets The Company’s management assesses the recoverability of long-lived assets (other than goodwill discussed above) upon the occurrence of a triggering event by determining whether the carrying value of long-lived assets can be recovered through projected undiscounted future cash flows over their remaining useful lives. The amount of long-lived asset impairment, if any, is measured based on fair value and is charged to operations during the period in which long-lived asset impairment is determined by management. At December 31, 2018, no no not |
Debt, Policy [Policy Text Block] | Debt Issuance Costs Debt issuance costs represent costs incurred in connection with the issuance of long-term debt. Debt issuance costs are amortized over the term of the financing instrument using the effective interest method. Debt issuance costs are presented in the condensed consolidated balance sheets as an offset to current and non-current portions of long-term debt. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC No. 718, Compensation - Stock Compensation 718” 718 no |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition MAM offers its software using the same underlying technology via two not The Company generates revenue through sales of licenses and support and maintenance provided to its on-premises customers, and through subscriptions of its cloud-based software. MAM offers professional services to both its on-premises and cloud customers to assist them with the customization, implementation, and training. The Company determines revenue recognition through the following steps: - Identification of the contract, or contracts, with a customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, we satisfy a performance obligation. The Company records the amount of revenue and related costs by considering whether the entity is a principal (gross presentation) or an agent (net presentation) by evaluating the nature of its promise to the customer. Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. The Company’s contracts which contain multiple performance obligations generally consist of the initial purchase of subscription or licenses, a professional services engagement, and support and maintenance engagement. License purchases generally have multiple performance obligations as customers also purchase support and maintenance in addition to the licenses. The Company’s single performance obligation arrangements are typically support and maintenance renewals, subscription renewals, and professional services engagements. For contracts with multiple performance obligations where the contracted price differs from the standalone selling price (“SSP”) for any distinct good or service, the Company may Subscription Subscription revenue is recognized ratably over the initial subscription period committed to by the customer commencing when the cloud environment is made available to the customer. The initial subscription period is typically 36 60 30 Software Licenses Transfer of control for software is considered to have occurred upon electronic delivery of the license key that provides immediate availability of the product to the customer. The Company’s typical payment terms tend to vary but its standard payment terms are within 30 Support and Maintenance Revenue from support services and product updates, referred to as support and maintenance revenue, is recognized ratably over the term of the contract period, which is typically 12 36 30 Professional Services Revenue from professional services is typically comprised of implementation, development, training or other consulting services. Professional services are generally sold on an hourly/daily rate or fixed fee basis, and can include services ranging from software installation to data conversion, basic customizations, and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for hourly arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by hours incurred to date, compared to total estimated hours to complete the services project. Management applies judgment when estimating project status and the time necessary to complete the services projects. A number of internal and external factors can affect these estimates, including changes to specifications, testing and training requirements. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due 30 Funded Software Arrangements The Company may not not Disaggregated Revenue The Company disaggregates revenue from contracts with customers by geography and type of the revenue arrangement, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s revenue by geography and type is as follows (in thousands): For the Three Months Ended December 31, Net Revenues 2018 2017 MAM UK: Recurring $ 5,118 $ 4,964 Non-recurring 862 720 Total MAM UK Revenues 5,980 5,684 MAM NA: Recurring 2,498 2,293 Non-recurring 478 523 Total MAM NA Revenues 2,976 2,816 Total Net Revenues $ 8,956 $ 8,500 For the Six Months Ended December 31, Net Revenues 2018 2017 MAM UK: Recurring $ 10,310 $ 9,792 Non-recurring 1,617 1,233 Total MAM UK Revenues 11,927 11,025 MAM NA: Recurring 4,977 4,550 Non-recurring 1,352 1,563 Total MAM NA Revenues 6,329 6,113 Total Net Revenues $ 18,256 $ 17,138 Significant Judgments More judgments and estimates are required under Topic 606 605. 606 may may Judgment is required to determine the SSP for each distinct performance obligation. The Company rarely licenses or sells products on a stand-alone basis, so the Company is required to estimate the range of SSPs for each performance obligation. In instances where SSP is not not may Revenue is recognized over time for the Company’s subscription, support and maintenance, and professional services that are separate performance obligations. For the Company’s professional services, revenue is recognized over time, generally using hours expended to measure progress. Judgment is required in estimating project status and the hours necessary to complete projects. A number of internal and external factors can affect these estimates, including changes to specifications, testing and training requirements. If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as one Contract Balances The timing of revenue recognition may not not The contract assets indicated below are presented as prepaid expenses and other current assets and other long-term assets in the condensed consolidated balance sheets. These assets primarily relate to professional services and subscriptions, and consist of the Company’s rights to consideration for goods or services transferred but not December 31, 2018. The Company’s contract balances are as follows (in thousands): As of December 31, 2018 July 1, 2018 Contract assets, short-term $ 104 $ 94 Contract assets, long-term 173 154 Total contract assets $ 277 $ 248 Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $22.9 December 31, 2018, $11.4 12 not 12 not 12 Deferred Revenue MAM typically invoices its customers for subscription and support and maintenance fees on a monthly basis, with payment due 30 twelve Deferred revenues consisted of the following (in thousands): As of December 31, 2018 June 30, 2018 Deferred professional services $ 1,120 $ 885 Deferred license 304 305 Deferred support 748 590 Deposits 1,386 1,146 Deferred other revenue 38 105 Total deferred revenues 3,596 3,031 Less deferred revenues, current (2,210 ) (1,885 ) Deferred revenues, non-current $ 1,386 $ 1,146 During the six December 31, 2018, $0.1 606, Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under Topic 606 606: Application ● The Company does not one ● The Company generally expenses sales commissions when incurred when the amortization period would have been one ● The Company does not Modified Retrospective Transition Adjustments ● For contract modifications, the Company reflected the aggregate effect of all modifications that occurred prior to the adoption date when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to satisfied and unsatisfied performance obligations for the modified contract at transition. Costs to Obtain and Fulfill a Contract The Company’s incremental direct costs of obtaining a contract consist of sales commissions which are amortized ratably over the term of economic benefit which the Company has determined to be the life of the contract for subscription customers. These deferred costs are classified as current or non-current based on the timing of when the Company expects to recognize the expense. Incremental costs related to initial support and renewals are expensed as incurred because the term of economic benefit is one $0.3 December 31, 2018 June 30, 2018. three six December 31, 2018, $15,000 $29,000, |
Cost of Sales, Policy [Policy Text Block] | Cost of Revenues Cost of revenues primarily consists of expenses related to delivering our service and providing support, amortization expense associated with capitalized software related to our services, and acquired developed technologies and certain fees paid to various third third |
Advertising Costs, Policy [Policy Text Block] | Advertising Expense The Company expenses advertising costs as incurred. For the three December 31, 2018 2017, $277,000 $224,000, six December 31, 2018 2017, $301,000 $262,000, |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of the UK subsidiaries are translated into US dollars at the quarter-end exchange rates. Income and expenses are translated at an average exchange rate for the period and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The foreign currency translation gain (loss) adjustment totaled $( 0.3 $0.1 three December 31, 2018 2017, 0.5 $0.4 six December 31, 2018 2017, Foreign currency gains and losses from transactions denominated in currencies other than the respective local currencies are included in income. The Company had no |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income includes all changes in equity (net assets) during a period from non-owner sources. For the three six December 31, 2018 2017, |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. Deferred taxation is provided in full in respect of timing differences between the treatment of certain items for taxation and accounting purposes. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. ASC 740 may not 740 not may December 31, 2018 June 30, 2018, $0.2 The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Earnings Per Share Basic earnings per share (“BEPS”) is computed by dividing the net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share (“DEPS”) is computed giving effect to all dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of incremental shares issuable upon the exercise of stock options and warrants using the “treasury stock” method. The following is a reconciliation of the numerators and denominators of the BEPS and DEPS per share computation for the three six December 31, 2018 2017 For the Three Months Ended December 31, 2018 2017 Numerator: Net income (loss) $ 704 $ (79 ) Denominator: Basic weighted-average shares outstanding 12,156 11,825 Effect of dilutive securities 43 - Diluted weighted-average shares outstanding 12,199 11,825 Basic earnings (loss) per common share $ 0.06 $ (0.01 ) Diluted earnings (loss) per common share $ 0.06 $ (0.01 ) For the Six Months Ended December 31, 2018 2017 Numerator: Net income $ 1,915 $ 1,035 Denominator: Basic weighted-average shares outstanding 12,150 11,820 Effect of dilutive securities 57 331 Diluted weighted-average shares outstanding 12,207 12,151 Basic earnings per common share $ 0.16 $ 0.09 Diluted earnings per common share $ 0.16 $ 0.09 For the three six December 31, 2018, 460,178 not three December 31, 2017, 332,888 three six December 31, 2017, 450,178 not |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | June 30, Topic July 1, 2018 606 2018 ASSETS Accounts receivable, net $ 5,010 $ 64 $ 5,074 Prepaid expenses and other current assets $ 1,270 $ 94 $ 1,364 Total Current Assets $ 10,621 $ 158 $ 10,779 Software development costs, net $ 8,889 $ 516 $ 9,405 Deferred income taxes $ 1,251 $ 121 $ 1,372 Other long-term assets $ 545 $ 41 $ 586 TOTAL ASSETS $ 30,634 $ 836 $ 31,470 LIABILITIES AND STOCKHOLDERS’ EQUITY Current portion of deferred revenues $ 1,885 $ 556 $ 2,441 Income tax payable $ 669 $ 272 $ 941 Total Current Liabilities $ 9,940 $ 828 $ 10,768 Deferred revenues, net of current portion $ 1,146 $ (213 ) $ 933 Total Liabilities $ 17,114 $ 616 $ 17,730 Stockholders' Equity Retained earnings $ 2,003 $ 220 $ 2,223 Total Stockholders' Equity $ 13,520 $ 220 $ 13,740 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 30,634 $ 836 $ 31,470 As Reported Under Topic 606 Adjustments Balances Under Prior GAAP ASSETS Accounts receivable, net $ 4,786 $ (82 ) $ 4,704 Prepaid expenses and other current assets $ 1,295 $ (111 ) $ 1,184 Total Current Assets $ 10,162 $ (193 ) $ 9,969 Software development costs, net $ 9,685 $ (718 ) $ 8,967 Deferred income taxes $ 1,413 $ (134 ) $ 1,279 Other long-term assets $ 491 $ (43 ) $ 448 TOTAL ASSETS $ 30,776 $ (1,088 ) $ 29,688 LIABILITIES AND STOCKHOLDERS’ EQUITY Current portion of deferred revenues $ 2,210 $ (146 ) $ 2,064 Income tax payable $ 721 $ (303 ) $ 418 Total Current Liabilities $ 9,317 $ (449 ) $ 8,868 Deferred revenues, net of current portion $ 1,386 $ (377 ) $ 1,009 Deferred income taxes $ 730 $ (1 ) $ 729 Total Liabilities $ 15,560 $ (827 ) $ 14,733 Retained earnings $ 4,138 $ (261 ) $ 3,877 Total Stockholders’ Equity $ 15,216 $ (261 ) $ 14,955 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 30,776 $ (1,088 ) $ 29,688 As Reported Under Topic 606 Adjustments Balances Under Prior GAAP Net revenues $ 8,956 $ 20 $ 8,976 Cost of revenues 4,066 4 4,070 Gross Profit 4,890 16 4,906 Total Operating Expenses 3,984 - 3,984 Operating Income 906 16 922 Other Income (Expense) Interest expense, net (92 ) (1 ) (93 ) Total other expense, net (92 ) (1 ) (93 ) Income before provision for income taxes 814 15 829 Provision for income taxes 110 (6 ) 104 Net Income $ 704 $ 21 $ 725 Earnings per share attributed to common stockholders – basic $ 0.06 $ - $ 0.06 Earnings per share attributed to common stockholders – diluted $ 0.06 $ - $ 0.06 Net Income $ 704 $ 21 $ 725 Foreign currency translation gain (loss) (315 ) - (315 ) Total Comprehensive Income $ 389 $ 21 $ 410 As Reported Under Topic 606 Adjustments Balances Under Prior GAAP Net revenues $ 18,256 $ (59 ) $ 18,197 Cost of revenues 8,131 (4 ) 8,127 Gross Profit 10,125 (55 ) 10,070 Total Operating Expenses 7,614 - 7,614 Operating Income 2,511 (55 ) 2,456 Other Income (Expense) Interest expense, net (183 ) (7 ) (190 ) Total other expense, net (183 ) (7 ) (190 ) Income before provision for income taxes 2,328 (62 ) 2,266 Provision for income taxes 413 (21 ) 392 Net Income $ 1,915 $ (41 ) $ 1,874 Earnings per share attributed to common stockholders – basic $ 0.16 $ (0.01 ) $ 0.15 Earnings per share attributed to common stockholders – diluted $ 0.16 $ (0.01 ) $ 0.15 Net Income $ 1,915 $ (41 ) $ 1,874 Foreign currency translation gain (loss) (487 ) - (487 ) Total Comprehensive Income $ 1,428 $ (41 ) $ 1,387 As Reported Under Topic 606 Adjustments Balances Under Prior GAAP CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 1,915 $ (41 ) $ 1,874 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes $ (65 ) $ (24 ) $ (89 ) Changes in assets and liabilities: Accounts receivable $ 110 $ 18 $ 128 Prepaid expenses and other assets $ 133 $ 20 $ 153 Income tax payable $ (203 ) $ 2 $ (201 ) Deferred revenues $ 267 $ (177 ) $ 90 NET CASH PROVIDED BY OPERATING ACTIVITIES $ 1,763 $ (202 ) $ 1,561 CASH FLOWS FROM INVESTING ACTIVITIES: Capitalized software development costs $ (567 ) $ 202 $ (365 ) NET CASH USED IN INVESTING ACTIVITIES $ (617 ) $ 202 $ (415 ) Cash and cash equivalents at end of period $ 3,908 $ - $ 3,908 |
Note 2 - Nature of Operations_2
Note 2 - Nature of Operations and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | In thousands For the Six Months Ended December 31, 2018 2017 Beginning Balance $ 8,280 $ 8,191 Effect of exchange rate changes (208 ) 216 Ending Balance $ 8,072 $ 8,407 |
Disaggregation of Revenue [Table Text Block] | For the Three Months Ended December 31, Net Revenues 2018 2017 MAM UK: Recurring $ 5,118 $ 4,964 Non-recurring 862 720 Total MAM UK Revenues 5,980 5,684 MAM NA: Recurring 2,498 2,293 Non-recurring 478 523 Total MAM NA Revenues 2,976 2,816 Total Net Revenues $ 8,956 $ 8,500 For the Six Months Ended December 31, Net Revenues 2018 2017 MAM UK: Recurring $ 10,310 $ 9,792 Non-recurring 1,617 1,233 Total MAM UK Revenues 11,927 11,025 MAM NA: Recurring 4,977 4,550 Non-recurring 1,352 1,563 Total MAM NA Revenues 6,329 6,113 Total Net Revenues $ 18,256 $ 17,138 |
Contract with Customer, Asset and Liability [Table Text Block] | As of December 31, 2018 July 1, 2018 Contract assets, short-term $ 104 $ 94 Contract assets, long-term 173 154 Total contract assets $ 277 $ 248 As of December 31, 2018 June 30, 2018 Deferred professional services $ 1,120 $ 885 Deferred license 304 305 Deferred support 748 590 Deposits 1,386 1,146 Deferred other revenue 38 105 Total deferred revenues 3,596 3,031 Less deferred revenues, current (2,210 ) (1,885 ) Deferred revenues, non-current $ 1,386 $ 1,146 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended December 31, 2018 2017 Numerator: Net income (loss) $ 704 $ (79 ) Denominator: Basic weighted-average shares outstanding 12,156 11,825 Effect of dilutive securities 43 - Diluted weighted-average shares outstanding 12,199 11,825 Basic earnings (loss) per common share $ 0.06 $ (0.01 ) Diluted earnings (loss) per common share $ 0.06 $ (0.01 ) For the Six Months Ended December 31, 2018 2017 Numerator: Net income $ 1,915 $ 1,035 Denominator: Basic weighted-average shares outstanding 12,150 11,820 Effect of dilutive securities 57 331 Diluted weighted-average shares outstanding 12,207 12,151 Basic earnings per common share $ 0.16 $ 0.09 Diluted earnings per common share $ 0.16 $ 0.09 |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Weighted- Number of Weighted- Average Shares Average Remaining (in Exercise Contractual thousands) Price Life (in years) Options outstanding - July 1, 2018 68 $ 1.30 Options granted - - Options exercised (18 ) 1.90 Options cancelled - - Options outstanding – December 31, 2018 50 $ 1.09 2.3 Options exercisable – December 31, 2018 50 $ 1.09 2.3 Options exercisable and vested – December 31, 2018 50 $ 1.09 2.3 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Weighted Average Number of Initial Value Price Shares Per Share Restricted stock outstanding - July 1, 2018 450 $ 4.25 Issuance of restricted stock 10 6.12 Vesting - - Forfeitures - - Restricted stock outstanding – December 31, 2018 460 $ 4.30 |
Schedule of Vesting Level of Restricted Stock [Table Text Block] | Weighted Average Number of Initial Value Price Shares Per Share 30-day VWAP per share vesting level (1): $9.00 per share 132 $ 3.26 $10.00 per share 123 $ 4.71 $11.00 per share 123 $ 4.71 $12.00 per share 82 $ 4.71 |
Note 5 - Long-term Debt (Tables
Note 5 - Long-term Debt (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of (in thousands) December 31, 2018 June 30, 2018 Debt obligations: Revolving loan facility $ - $ - Term loan 5,650 6,441 Equipment financing 4 7 Less: unamortized debt issuance costs (39 ) (56 ) Total 5,615 6,392 Less current portion (2,025 ) (1,811 ) Long-term debt $ 3,590 $ 4,581 |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Provision (Benefit) for Income Taxes and Effective Tax Rate [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">For the Three Months Ended</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">December 31,</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2018</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Provision for income taxes</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">793</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Effective tax rate</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">For the Six Months Ended</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">December 31,</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2018</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Provision for income taxes</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">413</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,102</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Effective tax rate</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> </tr> </table></div>" id="sjs-B4"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">For the Three Months Ended</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">December 31,</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2018</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Provision for income taxes</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">793</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Effective tax rate</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">For the Six Months Ended</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">December 31,</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2018</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Provision for income taxes</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">413</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,102</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Effective tax rate</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">%</div> </td> </tr> </table></div> |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) - USD ($) $ in Thousands | Jul. 01, 2018 | Dec. 31, 2018 | Jun. 30, 2018 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ 2,223 | $ 4,138 | $ 2,003 |
Contract with Customer, Liability, Total | 3,596 | 3,031 | |
Other Assets, Noncurrent, Total | 586 | 491 | 545 |
Accounts Receivable, Net, Current, Total | 5,074 | 4,786 | 5,010 |
Capitalized Computer Software, Net, Ending Balance | 9,405 | 9,685 | 8,889 |
Deferred Tax Liabilities, Net, Noncurrent | $ 730 | $ 789 | |
Accounting Standards Update 2014-09 [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | 220 | ||
Other Assets, Noncurrent, Total | 41 | ||
Cumulative Effect on Retained Earnings, Tax | 150 | ||
Accrued Income Taxes, Total | 300 | ||
Accounts Receivable, Net, Current, Total | 64 | ||
Capitalized Computer Software, Net, Ending Balance | 516 | ||
Deferred Tax Liabilities, Net, Noncurrent | 150 | ||
Accounting Standards Update 2014-09 [Member] | Professional Services for Perpetual License Contracts [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | 100 | ||
Accounts Receivable, Net, Current, Total | 100 | ||
Accounting Standards Update 2014-09 [Member] | Rental Contracts [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | 200 | ||
Accounts Receivable, Net, Current, Total | 200 | ||
Accounting Standards Update 2014-09 [Member] | Set-up Fees and Associated Costs Pertaining to Implementation of Rental Customers [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | 100 | ||
Contract with Customer, Liability, Total | (200) | ||
Other Assets, Noncurrent, Total | (100) | ||
Accounting Standards Update 2014-09 [Member] | Funded Software Development Related to Capitalized Software Development Projects [Member] | |||
Contract with Customer, Liability, Total | 500 | ||
Capitalized Computer Software, Net, Ending Balance | $ 500 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Cumulative Effect Adjustments from Adoption of Topic 606 (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jul. 01, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | |
Accounts receivable, net | $ 4,786 | $ 4,786 | $ 5,074 | $ 5,010 | |||
Prepaid expenses and other current assets | 1,295 | 1,295 | 1,364 | 1,270 | |||
Total Current Assets | 10,162 | 10,162 | 10,779 | 10,621 | |||
Software development costs, net | 9,685 | 9,685 | 9,405 | 8,889 | |||
Deferred income taxes | 1,413 | 1,413 | 1,372 | 1,251 | |||
Other long-term assets | 491 | 491 | 586 | 545 | |||
TOTAL ASSETS | 30,776 | 30,776 | 31,470 | 30,634 | |||
Current portion of deferred revenues | 2,210 | 2,210 | 2,441 | 1,885 | |||
Income tax payable | 721 | 721 | 941 | 669 | |||
Total Current Liabilities | 9,317 | 9,317 | 10,768 | 9,940 | |||
Deferred revenues, net of current portion | 1,386 | 1,386 | 933 | 1,146 | |||
Total Liabilities | 15,560 | 15,560 | 17,730 | 17,114 | |||
Retained earnings | 4,138 | 4,138 | 2,223 | 2,003 | |||
Total Stockholders' Equity | 15,216 | 15,216 | 13,740 | 13,520 | |||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 30,776 | 30,776 | 31,470 | 30,634 | |||
Deferred income taxes | 730 | 730 | 789 | ||||
Net revenues | 8,956 | $ 8,500 | 18,256 | $ 17,138 | |||
Cost of revenues | 4,066 | 3,999 | 8,131 | 7,806 | |||
Gross Profit | 4,890 | 4,501 | 10,125 | 9,332 | |||
Total Operating Expenses | 3,984 | 3,678 | 7,614 | 6,982 | |||
Operating Income | 906 | 823 | 2,511 | 2,350 | |||
Interest expense, net | (92) | (109) | (183) | (213) | |||
Total other expense, net | (92) | (109) | (183) | (213) | |||
Income before provision for income taxes | 814 | 714 | 2,328 | 2,137 | |||
Provision for income taxes | 110 | 793 | 413 | 1,102 | |||
Net Income | $ 704 | $ (79) | $ 1,915 | $ 1,035 | |||
Basic earnings (loss) per common share (in dollars per share) | $ 0.06 | $ (0.01) | $ 0.16 | $ 0.09 | |||
Diluted earnings (loss) per common share (in dollars per share) | $ 0.06 | $ (0.01) | $ 0.16 | $ 0.09 | |||
Foreign currency translation gain (loss) | $ (315) | $ 95 | $ (487) | $ 360 | |||
Total Comprehensive Income | 389 | 16 | 1,428 | 1,395 | |||
Net income (loss) | 704 | (79) | 1,915 | 1,035 | |||
Deferred income taxes | (65) | 744 | |||||
Accounts receivable | 110 | 392 | |||||
Prepaid expenses and other assets | 133 | 140 | |||||
Income tax payable | (203) | 358 | |||||
Deferred revenues | 267 | 422 | |||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,763 | 3,110 | |||||
Capitalized software development costs | (567) | (864) | |||||
NET CASH USED IN INVESTING ACTIVITIES | (617) | (924) | |||||
Cash and cash equivalents at end of period | 3,908 | $ 2,810 | 3,908 | $ 2,810 | $ 4,171 | $ 1,260 | |
Accounting Standards Update 2014-09 [Member] | |||||||
Accounts receivable, net | 64 | ||||||
Prepaid expenses and other current assets | 94 | ||||||
Total Current Assets | 158 | ||||||
Software development costs, net | 516 | ||||||
Deferred income taxes | 121 | ||||||
Other long-term assets | 41 | ||||||
TOTAL ASSETS | 836 | ||||||
Current portion of deferred revenues | 556 | ||||||
Income tax payable | 272 | ||||||
Total Current Liabilities | 828 | ||||||
Deferred revenues, net of current portion | (213) | ||||||
Total Liabilities | 616 | ||||||
Retained earnings | 220 | ||||||
Total Stockholders' Equity | 220 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 836 | ||||||
Deferred income taxes | $ 150 | ||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||||
Accounts receivable, net | (82) | (82) | |||||
Prepaid expenses and other current assets | (111) | (111) | |||||
Total Current Assets | (193) | (193) | |||||
Software development costs, net | (718) | (718) | |||||
Deferred income taxes | (134) | (134) | |||||
Other long-term assets | (43) | (43) | |||||
TOTAL ASSETS | (1,088) | (1,088) | |||||
Current portion of deferred revenues | (146) | (146) | |||||
Income tax payable | (303) | (303) | |||||
Total Current Liabilities | (449) | (449) | |||||
Deferred revenues, net of current portion | (377) | (377) | |||||
Total Liabilities | (827) | (827) | |||||
Retained earnings | (261) | (261) | |||||
Total Stockholders' Equity | (261) | (261) | |||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | (1,088) | (1,088) | |||||
Deferred income taxes | (1) | (1) | |||||
Net revenues | 20 | (59) | |||||
Cost of revenues | 4 | (4) | |||||
Gross Profit | 16 | (55) | |||||
Total Operating Expenses | |||||||
Operating Income | 16 | (55) | |||||
Interest expense, net | (1) | (7) | |||||
Total other expense, net | (1) | (7) | |||||
Income before provision for income taxes | 15 | (62) | |||||
Provision for income taxes | (6) | (21) | |||||
Net Income | $ 21 | $ (41) | |||||
Basic earnings (loss) per common share (in dollars per share) | $ (0.01) | ||||||
Diluted earnings (loss) per common share (in dollars per share) | $ (0.01) | ||||||
Foreign currency translation gain (loss) | |||||||
Total Comprehensive Income | 21 | (41) | |||||
Net income (loss) | 21 | (41) | |||||
Deferred income taxes | (24) | ||||||
Accounts receivable | 18 | ||||||
Prepaid expenses and other assets | 20 | ||||||
Income tax payable | 2 | ||||||
Deferred revenues | (177) | ||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | (202) | ||||||
Capitalized software development costs | 202 | ||||||
NET CASH USED IN INVESTING ACTIVITIES | 202 | ||||||
Cash and cash equivalents at end of period | |||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||
Accounts receivable, net | 4,704 | 4,704 | |||||
Prepaid expenses and other current assets | 1,184 | 1,184 | |||||
Total Current Assets | 9,969 | 9,969 | |||||
Software development costs, net | 8,967 | 8,967 | |||||
Deferred income taxes | 1,279 | 1,279 | |||||
Other long-term assets | 448 | 448 | |||||
TOTAL ASSETS | 29,688 | 29,688 | |||||
Current portion of deferred revenues | 2,064 | 2,064 | |||||
Income tax payable | 418 | 418 | |||||
Total Current Liabilities | 8,868 | 8,868 | |||||
Deferred revenues, net of current portion | 1,009 | 1,009 | |||||
Total Liabilities | 14,733 | 14,733 | |||||
Retained earnings | 3,877 | 3,877 | |||||
Total Stockholders' Equity | 14,955 | 14,955 | |||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 29,688 | 29,688 | |||||
Deferred income taxes | 729 | 729 | |||||
Net revenues | 8,976 | 18,197 | |||||
Cost of revenues | 4,070 | 8,127 | |||||
Gross Profit | 4,906 | 10,070 | |||||
Total Operating Expenses | 3,984 | 7,614 | |||||
Operating Income | 922 | 2,456 | |||||
Interest expense, net | (93) | (190) | |||||
Total other expense, net | (93) | (190) | |||||
Income before provision for income taxes | 829 | 2,266 | |||||
Provision for income taxes | 104 | 392 | |||||
Net Income | $ 725 | $ 1,874 | |||||
Basic earnings (loss) per common share (in dollars per share) | $ 0.06 | $ 0.15 | |||||
Diluted earnings (loss) per common share (in dollars per share) | $ 0.06 | $ 0.15 | |||||
Foreign currency translation gain (loss) | $ (315) | $ (487) | |||||
Total Comprehensive Income | 410 | 1,387 | |||||
Net income (loss) | 725 | 1,874 | |||||
Deferred income taxes | (89) | ||||||
Accounts receivable | 128 | ||||||
Prepaid expenses and other assets | 153 | ||||||
Income tax payable | (201) | ||||||
Deferred revenues | 90 | ||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,561 | ||||||
Capitalized software development costs | (365) | ||||||
NET CASH USED IN INVESTING ACTIVITIES | (415) | ||||||
Cash and cash equivalents at end of period | $ 3,908 | $ 3,908 |
Note 2 - Nature of Operations_3
Note 2 - Nature of Operations and Summary of Significant Accounting Policies 1 (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Jun. 30, 2018USD ($) | Dec. 31, 2018GBP (£) | |
Number of Reportable Segments | 1 | |||||
Number of Operating Segments | 2 | |||||
Business Combination, Contingent Consideration, Liability, Total | $ 400,000 | $ 400,000 | $ 500,000 | |||
Depreciation, Depletion and Amortization, Total | 34,000 | $ 37,000 | 71,000 | $ 75,000 | ||
Goodwill, Impairment Loss | 0 | |||||
Impairment of Long-Lived Assets Held-for-use | 0 | |||||
Revenue, Remaining Performance Obligation, Amount | 22,900,000 | 22,900,000 | ||||
Contract with Customer, Liability, Revenue Recognized | 100,000 | |||||
Capitalized Contract Cost, Net, Total | 300,000 | 300,000 | $ 300,000 | |||
Advertising Expense | 277,000 | 224,000 | 301,000 | 262,000 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total | (315,000) | $ 95,000 | (487,000) | $ 360,000 | ||
Unrecognized Tax Benefits, Ending Balance | $ 200,000 | $ 200,000 | ||||
Nonvested Securities Excluded from Computation of Diluted Earnings Per Share | shares | 460,178 | 450,178 | 460,178 | 450,178 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 332,888 | |||||
Selling and Marketing Expense [Member] | ||||||
Capitalized Contract Cost, Amortization | $ 15,000 | $ 29,000 | ||||
Subscription [Member] | ||||||
Standard Payment Terms, Period for Customer Payment | 30 days | |||||
Software Licenses [Member] | ||||||
Standard Payment Terms, Period for Customer Payment | 30 days | |||||
Support and Maintenance [Member] | ||||||
Standard Payment Terms, Period for Customer Payment | 30 days | |||||
Professional Services [Member] | ||||||
Standard Payment Terms, Period for Customer Payment | 30 days | |||||
Computer Software, Intangible Asset [Member] | ||||||
Amortization, Total | 68,000 | $ 83,000 | $ 137,000 | $ 167,000 | ||
Automotive Data Services [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||||
Acquired Intellectual Property [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||
Amortization, Total | 20,000 | $ 21,000 | $ 40,000 | $ 41,000 | ||
Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||
Minimum [Member] | Subscription [Member] | ||||||
Period of Contract | 3 years | |||||
Minimum [Member] | Support and Maintenance [Member] | ||||||
Period of Contract | 1 year | |||||
Minimum [Member] | Computer Software, Intangible Asset [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||||
Minimum [Member] | Completed Software Technology and Customer Contracts/Relationships [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 9 years | |||||
Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Maximum [Member] | Subscription [Member] | ||||||
Period of Contract | 5 years | |||||
Maximum [Member] | Support and Maintenance [Member] | ||||||
Period of Contract | 3 years | |||||
Maximum [Member] | Computer Software, Intangible Asset [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||
Maximum [Member] | Completed Software Technology and Customer Contracts/Relationships [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Number of Major Customers | 0 | 0 | 0 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Number of Major Customers | 0 | 0 | ||||
UNITED STATES | ||||||
Cash, FDIC Insured Amount | $ 250,000 | $ 250,000 | ||||
Percentage of Property, Plant and Equipment, Net | 22.00% | 22.00% | 24.00% | 22.00% | ||
UNITED STATES | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 32.00% | 33.00% | 34.00% | 35.00% | ||
UNITED KINGDOM | ||||||
Cash, FSCS Insured Amount | £ | £ 85,000 | |||||
Percentage of Property, Plant and Equipment, Net | 78.00% | 78.00% | 76.00% | 78.00% | ||
UNITED KINGDOM | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 66.00% | 65.00% | 64.00% | 63.00% | ||
IRELAND | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 1.00% | 1.00% | 1.00% | 1.00% | ||
CANADA | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 1.00% | 1.00% | 1.00% | 1.00% |
Note 2 - Nature of Operations_4
Note 2 - Nature of Operations and Summary of Significant Accounting Policies 2 (Details Textual) | Dec. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 22,900,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 11,400,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Note 2 - Nature of Operations_5
Note 2 - Nature of Operations and Summary of Significant Accounting Policies - Goodwill Activity (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning Balance | $ 8,280 | $ 8,191 |
Effect of exchange rate changes | (208) | 216 |
Ending Balance | $ 8,072 | $ 8,407 |
Note 2 - Nature of Operations_6
Note 2 - Nature of Operations and Summary of Significant Accounting Policies - Revenue By Geography and Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net revenues | $ 8,956 | $ 8,500 | $ 18,256 | $ 17,138 |
UNITED KINGDOM | ||||
Net revenues | 5,980 | 5,684 | 11,927 | 11,025 |
North America [Member] | ||||
Net revenues | 2,976 | 2,816 | 6,329 | 6,113 |
Recurring Revenues [Member] | UNITED KINGDOM | ||||
Net revenues | 5,118 | 4,964 | 10,310 | 9,792 |
Recurring Revenues [Member] | North America [Member] | ||||
Net revenues | 2,498 | 2,293 | 4,977 | 4,550 |
Non-recurring Revenues [Member] | UNITED KINGDOM | ||||
Net revenues | 862 | 720 | 1,617 | 1,233 |
Non-recurring Revenues [Member] | North America [Member] | ||||
Net revenues | $ 478 | $ 523 | $ 1,352 | $ 1,563 |
Note 2 - Nature of Operations_7
Note 2 - Nature of Operations and Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jul. 01, 2018 | Jun. 30, 2018 |
Contract assets, short-term | $ 104 | $ 94 | |
Contract assets, long-term | 173 | 154 | |
Total contract assets | 277 | 248 | |
Total deferred revenues | 3,596 | $ 3,031 | |
Less deferred revenues, current | (2,210) | (2,441) | (1,885) |
Deferred revenues, non-current | 1,386 | $ 933 | 1,146 |
Professional Services [Member] | |||
Total deferred revenues | 1,120 | 885 | |
Software Licenses [Member] | |||
Total deferred revenues | 304 | 305 | |
Deferred Support [Member] | |||
Total deferred revenues | 748 | 590 | |
Deposit Account [Member] | |||
Total deferred revenues | 1,386 | 1,146 | |
Service, Other [Member] | |||
Total deferred revenues | $ 38 | $ 105 |
Note 2 - Nature of Operations_8
Note 2 - Nature of Operations and Summary of Significant Accounting Policies - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator: | ||||
Net income (loss) | $ 704 | $ (79) | $ 1,915 | $ 1,035 |
Denominator: | ||||
Basic weighted-average shares outstanding (in shares) | 12,156 | 11,825 | 12,150 | 11,820 |
Effect of dilutive securities (in shares) | 43 | 57 | 331 | |
Diluted weighted-average shares outstanding (in shares) | 12,199 | 11,825 | 12,207 | 12,151 |
Basic earnings (loss) per common share (in dollars per share) | $ 0.06 | $ (0.01) | $ 0.16 | $ 0.09 |
Diluted earnings (loss) per common share (in dollars per share) | $ 0.06 | $ (0.01) | $ 0.16 | $ 0.09 |
Note 4 - Stockholders' Equity_2
Note 4 - Stockholders' Equity (Details Textual) - USD ($) | Jul. 02, 2018 | Jul. 03, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Sep. 19, 2018 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 6,844 | 14,493 | ||||||
Stock Repurchase Program, Authorized Amount | $ 2,000,000 | |||||||
Treasury Stock, Shares, Acquired | 34,972 | 39,969 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ 300,000 | |||||||
Treasury Stock, Shares, Retired | 0 | 0 | 0 | 0 | ||||
Restricted Stock [Member] | ||||||||
Allocated Share-based Compensation Expense, Total | $ 200,000 | $ 100,000 | $ 400,000 | $ 200,000 | ||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total | 10,000 | 240,000 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total | $ 100,000 | $ 1,500,000 | ||||||
LITP 2007 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||
EIP 2017 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | ||||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 25,524 | 34,592 | ||||||
Stock Issued During Period, Value, New Issues | $ 220,000 | $ 220,000 | ||||||
Employee Stock Purchase Plan [Member] | ||||||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 0 | 0 | 5,829 | 6,958 | ||||
Employee Stock Purchase Plan [Member] | US Employees [Member] | ||||||||
Common Stock, Percent of Fair Market Value, Exercise Date | 85.00% | 85.00% | ||||||
Common Stock, Percent of Fair Market Value, Grant Date | 85.00% | 85.00% | ||||||
Employee Stock Purchase Plan [Member] | UK Employees [member] | ||||||||
Common Stock, Percent of Fair Market Value, Exercise Date | 100.00% | 100.00% | ||||||
Common Stock, Percent of Fair Market Value, Grant Date | 100.00% | 100.00% | ||||||
Employee Stock Purchase Plan, Employer Matching Contribution, Percent of Share Price | 15.00% | 15.00% |
Note 4 - Stockholders' Equity -
Note 4 - Stockholders' Equity - Stock Option Activity (Details) shares in Thousands | 6 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Number of options outstanding (in shares) | shares | 68 |
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.30 |
Number of options granted (in shares) | shares | 0 |
Options granted, weighted-average exercise price (in dollars per share) | $ / shares | $ 0 |
Number of options exercised (in shares) | shares | (18) |
Options exercised, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.90 |
Number of options cancelled (in shares) | shares | 0 |
Options cancelled, weighted-average exercise price (in dollars per share) | $ / shares | $ 0 |
Number of options outstanding (in shares) | shares | 50 |
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.09 |
Options outstanding, weighted-average remaining contractual life (Year) | 2 years 109 days |
Number of options exercisable (in shares) | shares | 50 |
Options exercisable, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.09 |
Options exercisable, weighted-average remaining contractual life (Year) | 2 years 109 days |
Number of options exercisable and vested (in shares) | shares | 50 |
Options exercisable and vested, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.09 |
Options exercisable and vested, weighted-average remaining contractual life (Year) | 2 years 109 days |
Note 4 - Stockholders' Equity_3
Note 4 - Stockholders' Equity - Restricted Stock Activity (Details) - Restricted Stock [Member] shares in Thousands | 6 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Number of shares, restricted stock outstanding, beginning balance (in shares) | shares | 450 |
Weighted average initial value price per share, beginning balance (in dollars per share) | $ / shares | $ 4.25 |
Number of shares, issuance of restricted stock (in shares) | shares | 10 |
Weighted average initial value price per share, issuance of restricted stock (in dollars per share) | $ / shares | $ 6.12 |
Number of shares, vesting (in shares) | shares | |
Weighted average initial value price per share, vesting (in dollars per share) | $ / shares | |
Number of shares, forfeitures (in shares) | shares | |
Weighted average initial value price per share, forfeitures (in dollars per share) | $ / shares | |
Number of shares, restricted stock outstanding, ending balance (in shares) | shares | 460 |
Weighted average initial value price per share, ending balance (in dollars per share) | $ / shares | $ 4.30 |
Note 4 - Stockholders' Equity_4
Note 4 - Stockholders' Equity - Vesting Levels of Restricted Stock (Details) - Restricted Stock [Member] - $ / shares shares in Thousands | Dec. 31, 2018 | Jun. 30, 2018 | |
Restricted stock (in shares) | 460 | 450 | |
Weighted average initial value price (in dollars per share) | $ 4.30 | $ 4.25 | |
Share-based Compensation Award, Tranche One [Member] | |||
Restricted stock (in shares) | [1] | 132 | |
Weighted average initial value price (in dollars per share) | [1] | $ 3.26 | |
Share-based Compensation Award, Tranche Two [Member] | |||
Restricted stock (in shares) | [1] | 123 | |
Weighted average initial value price (in dollars per share) | [1] | $ 4.71 | |
Share-based Compensation Award, Tranche Three [Member] | |||
Restricted stock (in shares) | [1] | 123 | |
Weighted average initial value price (in dollars per share) | [1] | $ 4.71 | |
Share-based Compensation Award, Tranche Four [Member] | |||
Restricted stock (in shares) | [1] | 82 | |
Weighted average initial value price (in dollars per share) | [1] | $ 4.71 | |
[1] | The restricted stock becomes vested when the Company's 30-day VWAP per share is at or above these levels. |
Note 5 - Long-term Debt (Detail
Note 5 - Long-term Debt (Details Textual) - USD ($) | Mar. 02, 2017 | Dec. 31, 2018 | Dec. 01, 2017 | Dec. 01, 2018 | Aug. 01, 2021 | Jun. 30, 2018 |
Long-term Debt, Total | $ 5,615,000 | $ 6,392,000 | ||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | ||||||
Debt Agreement, Maximum Borrowing Capacity | $ 11,500,000 | |||||
Long-term Debt, Total | $ 8,750,000 | |||||
Debt Instrument, Periodic Payment, Total | $ 133,333 | $ 158,333 | ||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Scenario, Forecast [Member] | ||||||
Debt Instrument, Periodic Payment, Total | $ 175,000 | |||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Either LIBO Rate or Prime Rate [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Either LIBO Rate or Prime Rate [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | |||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,750,000 | |||||
Long-term Line of Credit, Total | $ 0 | |||||
J.P. Morgan Chase Bank, N.A. [Member] | JMP Credit Facility [Member] | ||||||
Percentage of Pledged Stock | 65.00% |
Note 5 - Long-term Debt - Summa
Note 5 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Less: unamortized debt issuance costs | $ (39) | $ (56) |
Long-term debt | 5,615 | 6,392 |
Less current portion | (2,025) | (1,811) |
Long-term debt, noncurrent | 3,590 | 4,581 |
Line of Credit [Member] | ||
Long-term debt, gross | ||
Term Loan [Member] | ||
Long-term debt, gross | 5,650 | 6,441 |
Capital Lease Obligations [Member] | ||
Long-term debt, gross | $ 4 | $ 7 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 28.00% | 34.00% | |
Income Tax Expense (Benefit) Continuing Operations Increase (Decrease) | $ 0.6 | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 0.8 | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 0.2 | ||
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 6 - Income Taxes - Provisi
Note 6 - Income Taxes - Provision (Benefit) for Income Taxes and Effective Tax Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Provision for income taxes | $ 110 | $ 793 | $ 413 | $ 1,102 |
Effective tax rate | 14.00% | 111.00% | 18.00% | 52.00% |