Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 27, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | SAFEGUARD SCIENTIFICS INC | |
Entity Central Index Key | 0000086115 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 20,673,078 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 20,933 | $ 25,028 |
Restricted cash | 25 | 25 |
Prepaid expenses and other current assets | 634 | 1,297 |
Total current assets | 21,592 | 26,350 |
Property and equipment, net | 2,026 | 2,101 |
Ownership interests in and advances | 66,798 | 77,129 |
Other assets | 1,992 | 1,997 |
Total Assets | 92,408 | 107,577 |
Current Liabilities: | ||
Accounts payable | 141 | 39 |
Accrued compensation and benefits | 2,096 | 1,364 |
Accrued expenses and other current liabilities | 568 | 627 |
Lease liability - current | 380 | 399 |
Total current liabilities | 3,185 | 2,429 |
Lease liability - non-current | 2,303 | 2,380 |
Other long-term liabilities | 1,112 | 1,027 |
Total Liabilities | 6,600 | 5,836 |
Commitments and contingencies (Note 9) | ||
Equity: | ||
Preferred stock, $0.10 par value; 1,000 shares authorized | ||
Common stock, $0.10 par value; 83,333 shares authorized; 21,573 shares issued at March 31, 2020 and December 31, 2019 | 2,157 | 2,157 |
Additional paid-in capital | 810,827 | 810,856 |
Treasury stock, at cost; 924 and 930 shares at March 31, 2020 and December 31, 2019, respectively | (13,920) | (14,024) |
Accumulated deficit | (713,231) | (697,223) |
Accumulated other comprehensive loss | (25) | (25) |
Total Equity | 85,808 | 101,741 |
Total Liabilities and Equity | $ 92,408 | $ 107,577 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized (in shares) | 83,333 | 83,333 |
Common stock, shares issued (in shares) | 21,573 | 21,573 |
Treasury stock, shares (in shares) | 924 | 930 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
General and administrative expense | $ 3,532 | $ 3,057 |
Operating loss | (3,532) | (3,057) |
Other income (loss), net | (3,567) | (1,885) |
Interest income | 105 | 873 |
Interest expense | (2,535) | |
Equity income (loss), net | (9,014) | 28,267 |
Net income (loss) before income taxes | (16,008) | 21,663 |
Income tax benefit (expense) | 0 | 0 |
Net income (loss) | $ (16,008) | $ 21,663 |
Net income (loss) per share: | ||
Basic (in dollars per share) | $ (0.77) | $ 1.05 |
Diluted (in dollars per share) | $ (0.77) | $ 1.05 |
Weighted average shares used in computing income (loss) per share: | ||
Basic (in shares) | 20,686 | 20,585 |
Diluted (in shares) | 20,686 | 20,585 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income (loss) | $ (16,008) | $ 21,663 |
Other comprehensive income (loss): | ||
Share of other comprehensive income (loss) of equity method interests | (31) | |
Total comprehensive income (loss) | $ (16,008) | $ 21,632 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash Flows from Operating Activities: | ||
Net cash used in operating activities | $ (2,551) | $ (5,782) |
Cash Flows from Investing Activities: | ||
Proceeds from sales of and distributions from ownership interests | 708 | 41,778 |
Acquisitions of ownership interest | (1,000) | |
Advances and loans | (1,241) | (3,925) |
Purchases of marketable securities | (57,243) | |
Proceeds from sales and maturities in marketable securities | 62,235 | |
Net cash (used in) provided by investing activities | (1,533) | 42,845 |
Cash Flows from Financing Activities: | ||
Tax withholdings related to equity-based awards | (11) | (149) |
Net cash used in financing activities | (11) | (149) |
Net change in cash, cash equivalents and restricted cash | (4,095) | 36,914 |
Cash, cash equivalents and restricted cash at beginning of period | 25,053 | 8,203 |
Cash, cash equivalents and restricted cash at end of period | $ 20,958 | $ 45,117 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2018 | $ (731,105) | $ 2,157 | $ 810,928 | $ (15,001) | $ 66,979 | |
Balance (in shares) at Dec. 31, 2018 | 21,573 | 914 | ||||
Net income (loss) | 21,663 | 21,663 | ||||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | 7 | $ (156) | (149) | |||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares) | 83 | |||||
Stock-based compensation expense | 417 | 417 | ||||
Balance at Mar. 31, 2019 | (709,442) | (31) | $ 2,157 | 811,352 | $ (15,157) | 88,879 |
Balance (in shares) at Mar. 31, 2019 | 21,573 | 998 | ||||
Stock options exercised, net of tax withholdings | ||||||
Stock options exercised, net of tax withholdings (in shares) | 1 | |||||
Other comprehensive loss | (31) | (31) | ||||
Balance at Dec. 31, 2019 | (697,223) | (25) | $ 2,157 | 810,856 | $ (14,024) | 101,741 |
Balance (in shares) at Dec. 31, 2019 | 21,573 | 930 | ||||
Net income (loss) | (16,008) | (16,008) | ||||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net | (32) | $ 104 | 72 | |||
Restricted stock awards, forfeitures and shares repurchased for tax withholdings, net (in shares) | (6) | |||||
Stock-based compensation expense | 3 | 3 | ||||
Balance at Mar. 31, 2020 | $ (713,231) | $ (25) | $ 2,157 | $ 810,827 | $ (13,920) | $ 85,808 |
Balance (in shares) at Mar. 31, 2020 | 21,573 | 924 |
Note 1 - General
Note 1 - General | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The accompanying unaudited interim Consolidated Financial Statements of Safeguard Scientifics, Inc. (“Safeguard” or the “Company”) were prepared in accordance with accounting principles generally accepted in the United States of America and the interim financial statement rules and regulations of the SEC. In the opinion of management, these statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Consolidated Financial Statements. The interim operating results are not 10 10 2019 10 Liquidity As of March 31, 2020 $20.9 In January 2018, not The Company believes that its cash and cash equivalents at March 31, 2020 one Principles of Accounting for Ownership Interests The Company accounts for its ownership interests using one In addition to holding voting and non-voting equity, the Company also periodically makes advances to its companies in the form of promissory notes which are included in the Ownership interests in and advances on the Consolidated Balance Sheets. Equity Method. not not 20% 50% not one When the Company’s carrying value in an equity method company is reduced to zero, the Company records no not not Other Method. not not Impairment of Ownership Interests and Advances On a periodic basis, but no not Management then determines whether there has been an other than temporary decline in the value of its ownership interest in the company. Impairment is measured as the amount by which the carrying value of an asset exceeds its estimated fair value. The estimated fair value of privately held companies is generally determined based on the value at which independent third Impairment charges related to equity method companies are included in Equity income (loss) in the Consolidated Statements of Operations. Impairment charges related to non-equity method companies and funds are included in Other income (loss), net in the Consolidated Statements of Operations. The reduced cost basis of a previously impaired company accounted for using the Equity method are not Recently Adopted Accounting Pronouncements In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09" 2014 09 December 15, 2017 December 15, 2018 December 15, 2019 July 20, 2017, not not December 31, 2019. 2020 one March 31, 2020 not |
Note 2 - Ownership Interests In
Note 2 - Ownership Interests In and Advances | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | 2. The following summarizes the carrying value of the Company’s ownership interests in and advances. March 31, 2020 December 31, 2019 (Unaudited - In thousands) Equity Method: Companies $ 29,289 $ 34,271 Private equity funds 271 271 29,560 34,542 Other Method: Companies 23,464 27,031 Private equity funds 453 453 23,917 27,484 Advances to companies 13,321 15,103 $ 66,798 $ 77,129 During the three March 31, 2020 $6.2 three March 31, 2020 $5.1 b8ta 19 third $12.5 3 During the three March 31, 2020 $1.5 Summarized Financial Information The following table summarizes the statement of operations data for any companies accounted for under the equity method for the three March 31, 2020 2019 one not Three Months Ended March 31, 2020 2019 (Unaudited - In thousands) Results of Operations: Revenue $ 47,414 $ 43,868 Gross profit $ 29,506 $ 24,589 Net loss $ (14,604 ) $ (33,616 ) |
Note 3 - Acquisitions of Owners
Note 3 - Acquisitions of Ownership Interests | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Cost and Equity Method Investments Disclosure [Text Block] | 3. The following is a summary of additional deployments during the quarter ended March 31, 2020: The Company deployed an additional $1.0 $13.0 The Company funded an additional $0.6 $20.6 The Company funded an additional $0.3 $10.2 The Company funded an additional $0.2 $13.5 The Company funded an aggregate of $0.1 $16.1 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. The Company categorizes its financial instruments into a three 1 3 Level 1—Observable Level 2—Include Level 3—Unobservable no The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of March 31, 2020 December 31, 2019 Carrying Fair Value Measurement at March 31, 2020 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 20,933 $ 20,933 $ — $ — Restricted cash equivalents $ 25 $ 25 $ — $ — Carrying Fair Value Measurement at December 31, 2019 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 25,028 $ 25,028 $ — $ — Restricted cash equivalents $ 25 $ 25 $ — $ — Held-to-maturity securities are carried at amortized cost, which, due to the short-term maturity of these instruments, approximates fair value using quoted prices in active markets for identical assets or liabilities defined as Level 1 |
Note 5 - Stock-Based Compensati
Note 5 - Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 5. Stock-based compensation expense was recognized in the Consolidated Statements of Operations as follows: Three Months Ended March 31, 2020 2019 (Unaudited - In thousands) General and administrative expense $ 86 $ 417 $ 86 $ 417 During the three March 31, 2020 2019 7 0 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. The Company’s consolidated income tax benefit (expense) was $0.0 three March 31, 2020 2019 not three March 31, 2020 three March 31, 2020 no |
Note 7 - Net Income (Loss) Per
Note 7 - Net Income (Loss) Per Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. The calculations of net income (loss) per share were as follows: Three Months Ended March 31, 2020 2019 (Unaudited - In thousands, except per share data) Basic: Net income (loss) $ (16,008 ) $ 21,663 Weighted average common shares outstanding 20,686 20,585 Net income (loss) per share $ (0.77 ) $ 1.05 Diluted: Net income (loss) for dilutive share computation $ (16,008 ) $ 21,663 Number of shares used in basic per share computation 20,686 20,585 Unvested restricted stock and DSU's — — Employee stock options — — Weighted average common shares outstanding 20,686 20,585 Net income (loss) per dilutive share $ (0.77 ) $ 1.05 Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs). If an equity method company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by first Diluted earnings per share do not • At March 31, 2020 2019 0.2 0.3 $10.37 $18.45 $9.83 $19.41, • At March 31, 2020 2019 0.3 0.7 |
Note 8 - Segment Reporting
Note 8 - Segment Reporting | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 8. The Company operates as one March 31, 2020 13 Certain of the Company’s ownership interests as of March 31, 2020 Company Name Safeguard Primary Ownership as of March 31, 2020 Accounting Method Aktana, Inc. 17.5% Equity Clutch Holdings, Inc. 41.2% Equity Flashtalking 13.4% Other InfoBionic, Inc. 25.2% Equity Lumesis, Inc. 43.5% Equity MediaMath, Inc. 13.3% Other meQuilibrium 32.7% Equity Moxe Health Corporation 29.9% Equity Prognos Health Inc. 28.7% Equity QuanticMind, Inc. 24.2% Equity Sonobi, Inc. 21.6% Equity Syapse, Inc. 20.0% Equity T-REX Group, Inc. 13.7% Other Trice Medical, Inc. 16.6% Equity WebLinc, Inc. 38.5% Equity Zipnosis, Inc. 37.7% Equity As of March 31, 2020 December 31, 2019 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. In March 2019, June 2019. April 2026, In April 2019, June 2019. 18 three six not A summary of the Company's operating lease cash flows at March 31, 2020 Operating lease payments Expected sublease receipts (Unaudited - In thousands) 2020 (nine months ending December 31) $ 530 $ 384 2021 595 525 2022 601 540 2023 607 556 2024 613 573 2025 619 590 Thereafter 207 199 Total future minimum lease payments 3,772 $ 3,367 Less imputed interest (1,089 ) Total operating lease liabilities $ 2,683 The Company and the companies in which it holds ownership interests are involved in various claims and legal actions arising in the ordinary course of business. In the current opinion of the Company, the ultimate disposition of these matters will not no one The Company had outstanding guarantees of $3.8 March 31, 2020 one In 2018, February 2019, January 2018. may first 1% first 1.333% no second not March 15th $0.8 March 31, 2020 The Company recorded severance expense of $1.7 three March 31, 2020 second six $2.2 March 31, 2020 In June 2011, March 2012, July 2015 one 2014 one |
Note 10 - Equity
Note 10 - Equity | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 10. In July 2015, $25.0 not 2019 three March 31, 2020 In February 2018, 2019 382 five 382 50 five three 382, 4.99% one not not no February 19, 2021. may no no may no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Liquidity, Policy [Policy Text Block] | Liquidity As of March 31, 2020 $20.9 In January 2018, not The Company believes that its cash and cash equivalents at March 31, 2020 one |
Investment, Policy [Policy Text Block] | Principles of Accounting for Ownership Interests The Company accounts for its ownership interests using one In addition to holding voting and non-voting equity, the Company also periodically makes advances to its companies in the form of promissory notes which are included in the Ownership interests in and advances on the Consolidated Balance Sheets. Equity Method. not not 20% 50% not one When the Company’s carrying value in an equity method company is reduced to zero, the Company records no not not Other Method. not not Impairment of Ownership Interests and Advances On a periodic basis, but no not Management then determines whether there has been an other than temporary decline in the value of its ownership interest in the company. Impairment is measured as the amount by which the carrying value of an asset exceeds its estimated fair value. The estimated fair value of privately held companies is generally determined based on the value at which independent third Impairment charges related to equity method companies are included in Equity income (loss) in the Consolidated Statements of Operations. Impairment charges related to non-equity method companies and funds are included in Other income (loss), net in the Consolidated Statements of Operations. The reduced cost basis of a previously impaired company accounted for using the Equity method are not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09" 2014 09 December 15, 2017 December 15, 2018 December 15, 2019 July 20, 2017, not not December 31, 2019. 2020 one March 31, 2020 not |
Note 2 - Ownership Interests _2
Note 2 - Ownership Interests In and Advances (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | March 31, 2020 December 31, 2019 (Unaudited - In thousands) Equity Method: Companies $ 29,289 $ 34,271 Private equity funds 271 271 29,560 34,542 Other Method: Companies 23,464 27,031 Private equity funds 453 453 23,917 27,484 Advances to companies 13,321 15,103 $ 66,798 $ 77,129 |
Equity Method Investments [Table Text Block] | Three Months Ended March 31, 2020 2019 (Unaudited - In thousands) Results of Operations: Revenue $ 47,414 $ 43,868 Gross profit $ 29,506 $ 24,589 Net loss $ (14,604 ) $ (33,616 ) |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Carrying Fair Value Measurement at March 31, 2020 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 20,933 $ 20,933 $ — $ — Restricted cash equivalents $ 25 $ 25 $ — $ — Carrying Fair Value Measurement at December 31, 2019 Value Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 25,028 $ 25,028 $ — $ — Restricted cash equivalents $ 25 $ 25 $ — $ — |
Note 5 - Stock-Based Compensa_2
Note 5 - Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | Three Months Ended March 31, 2020 2019 (Unaudited - In thousands) General and administrative expense $ 86 $ 417 $ 86 $ 417 |
Note 7 - Net Income (Loss) Pe_2
Note 7 - Net Income (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2020 2019 (Unaudited - In thousands, except per share data) Basic: Net income (loss) $ (16,008 ) $ 21,663 Weighted average common shares outstanding 20,686 20,585 Net income (loss) per share $ (0.77 ) $ 1.05 Diluted: Net income (loss) for dilutive share computation $ (16,008 ) $ 21,663 Number of shares used in basic per share computation 20,686 20,585 Unvested restricted stock and DSU's — — Employee stock options — — Weighted average common shares outstanding 20,686 20,585 Net income (loss) per dilutive share $ (0.77 ) $ 1.05 |
Note 8 - Segment Reporting (Tab
Note 8 - Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Partner Company Ownership Interest [Table Text Block] | Company Name Safeguard Primary Ownership as of March 31, 2020 Accounting Method Aktana, Inc. 17.5% Equity Clutch Holdings, Inc. 41.2% Equity Flashtalking 13.4% Other InfoBionic, Inc. 25.2% Equity Lumesis, Inc. 43.5% Equity MediaMath, Inc. 13.3% Other meQuilibrium 32.7% Equity Moxe Health Corporation 29.9% Equity Prognos Health Inc. 28.7% Equity QuanticMind, Inc. 24.2% Equity Sonobi, Inc. 21.6% Equity Syapse, Inc. 20.0% Equity T-REX Group, Inc. 13.7% Other Trice Medical, Inc. 16.6% Equity WebLinc, Inc. 38.5% Equity Zipnosis, Inc. 37.7% Equity |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating lease payments Expected sublease receipts (Unaudited - In thousands) 2020 (nine months ending December 31) $ 530 $ 384 2021 595 525 2022 601 540 2023 607 556 2024 613 573 2025 619 590 Thereafter 207 199 Total future minimum lease payments 3,772 $ 3,367 Less imputed interest (1,089 ) Total operating lease liabilities $ 2,683 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 20,933 | $ 25,028 |
Note 2 - Ownership Interests _3
Note 2 - Ownership Interests In and Advances (Details Textual) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | $ 1.5 |
Fair Value, Inputs, Level 3 [Member] | |
Equity Securities, FV-NI | 12.5 |
WebLinc, Inc and QuanticMind, Inc [Member] | |
Equity Method Investment, Other than Temporary Impairment | 6.2 |
T-REX Group and Other Companies [Member] | |
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | $ 5.1 |
Note 2 - Ownership Interests _4
Note 2 - Ownership Interests In and Advances to Partner Companies - Carrying Value of Ownership Interests (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Equity Method Companies | $ 29,560 | $ 34,542 |
Other Companies | 23,917 | 27,484 |
Advances to companies | 13,321 | 15,103 |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total | 66,798 | 77,129 |
Partnership Interest [Member] | ||
Equity Method Companies | 29,289 | 34,271 |
Other Companies | 23,464 | 27,031 |
Private Equity Funds [Member] | ||
Equity Method Companies | 271 | 271 |
Other Companies | $ 453 | $ 453 |
Note 2 - Ownership Interests _5
Note 2 - Ownership Interests In and Advances - Results of Operations (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 47,414 | $ 43,868 |
Gross profit | 29,506 | 24,589 |
Net loss | $ (14,604) | $ (33,616) |
Note 3 - Acquisitions of Owne_2
Note 3 - Acquisitions of Ownership Interests (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Payments to Acquire Equity Method Investments | $ 1,000 | ||
Equity Method Investments | 29,560 | $ 34,542 | |
meQuilibrium [Member] | |||
Convertible Bridge Loan | 1,000 | ||
Payments to Acquire Equity Method Investments | $ 13,000 | ||
Syapse, Inc. [Member] | |||
Payments to Acquire Equity Method Investments | 600 | ||
Equity Method Investments | 20,600 | ||
Trice Medical [Member] | |||
Convertible Bridge Loan | 300 | ||
Equity Method Investments | 10,200 | ||
QuanticMind [Member] | |||
Convertible Bridge Loan | 200 | ||
Equity Method Investments | 13,500 | ||
WebLinc, Inc. [Member] | |||
Convertible Bridge Loan | 100 | ||
Equity Method Investments | $ 16,100 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Fair Value of Assets and Liabilities Measured On Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents | $ 20,933 | $ 25,028 |
Restricted cash equivalents | 25 | 25 |
Restricted cash equivalents | 25 | 25 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 20,933 | 25,028 |
Restricted cash equivalents | 25 | 25 |
Restricted cash equivalents | 25 | 25 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Restricted cash equivalents | ||
Restricted cash equivalents | ||
Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Restricted cash equivalents | ||
Restricted cash equivalents |
Note 5 - Stock-Based Compensa_3
Note 5 - Stock-Based Compensation (Details Textual) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) | 7 | 0 |
Note 5 - Stock-Based Compensa_4
Note 5 - Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Stock-based compensation expense | $ 86 | $ 417 |
General and Administrative Expense [Member] | ||
Stock-based compensation expense | $ 86 | $ 417 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Note 7 - Net Income (Loss) Pe_3
Note 7 - Net Income (Loss) Per Share (Details Textual) - $ / shares shares in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0.2 | 0.3 |
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ 10.37 | $ 9.83 |
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ 18.45 | $ 19.41 |
Restricted Stock, Performance-based Stock Units, and Deferred Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0.3 | 0.7 |
Note 7 - Net Income (Loss) Pe_4
Note 7 - Net Income (Loss) Per Share - Calculations of Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Basic: | ||
Net income (loss) | $ (16,008) | $ 21,663 |
Basic (in shares) | 20,686 | 20,585 |
Basic (in dollars per share) | $ (0.77) | $ 1.05 |
Diluted: | ||
Net income (loss) | $ (16,008) | $ 21,663 |
Basic (in shares) | 20,686 | 20,585 |
Unvested restricted stock and DSU's (in shares) | ||
Employee stock options (in shares) | ||
Diluted (in shares) | 20,686 | 20,585 |
Diluted (in dollars per share) | $ (0.77) | $ 1.05 |
Note 8 - Segment Reporting (Det
Note 8 - Segment Reporting (Details Textual) | 3 Months Ended |
Mar. 31, 2020 | |
Number of Operating Segments | 1 |
Number of Non-consolidated Partner Companies | 13 |
Note 8 - Segment Reporting - Ac
Note 8 - Segment Reporting - Active Partner Companies by Segment (Details) | Mar. 31, 2020 |
Aktana, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 17.50% |
Clutch Holdings [Member] | |
Ownership Interest Under Equity Method, Percent | 41.20% |
Flashtalking [Member] | |
Ownership Interest Under Other Method, Percent | 13.40% |
InfoBionic, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 25.20% |
Lumesis, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 43.50% |
MediaMath, Inc. [Member] | |
Ownership Interest Under Other Method, Percent | 13.30% |
meQuilibrium [Member] | |
Ownership Interest Under Equity Method, Percent | 32.70% |
Moxe Health Corporation [Member] | |
Ownership Interest Under Equity Method, Percent | 29.90% |
Prognos Health, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 28.70% |
QuanticMind [Member] | |
Ownership Interest Under Equity Method, Percent | 24.20% |
Sonobi [Member] | |
Ownership Interest Under Equity Method, Percent | 21.60% |
Syapse, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 20.00% |
T-Rex Group, Inc [Member] | |
Ownership Interest Under Other Method, Percent | 13.70% |
Trice Medical, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 16.60% |
WebLinc, Inc. [Member] | |
Ownership Interest Under Equity Method, Percent | 38.50% |
Zipnosis [Member] | |
Ownership Interest Under Equity Method, Percent | 37.70% |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Deferred Compensation Liability, Current and Noncurrent, Total | $ 0.8 |
Employee and Severance Agreement, Maximum Aggregate Exposure | 2.2 |
Employee Severance [Member] | |
Restructuring Charges, Total | $ 1.7 |
Minimum [Member] | |
Long-term Incentive Plan, Bonus Pool, Percent of Proceeds Received | 1.00% |
Maximum [Member] | |
Long-term Incentive Plan, Bonus Pool, Percent of Proceeds Received | 1.333% |
Private Equity Funds [Member] | |
Guarantor Obligations, Current Carrying Value | $ 3.8 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Operating Lease Cash Flow (Details) $ in Thousands | Mar. 31, 2020USD ($) |
2020 (nine months ending December 31) | $ 530 |
2020 (nine months ending December 31) | 384 |
2021 | 595 |
2021 | 525 |
2022 | 601 |
2022 | 540 |
2023 | 607 |
2023 | 556 |
2024 | 613 |
2024 | 573 |
2025 | 619 |
2025 | 590 |
Thereafter | 207 |
Thereafter | 199 |
Total future minimum lease payments | 3,772 |
Total future minimum lease payments | 3,367 |
Less imputed interest | (1,089) |
Total operating lease liabilities | $ 2,683 |
Note 10 - Equity (Details Textu
Note 10 - Equity (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | Feb. 28, 2019 | Jul. 31, 2015 | |
Stock Repurchase Program, Authorized Amount | $ 25 | |||
Treasury Stock, Shares, Acquired (in shares) | 0 | 0 | ||
Sale of Stock, Individual Ownership, Percent, Maximum | 4.99% | |||
Preferred Stock Purchase Right to be Exchanged for Common Stock Above Maximum Ownership Threshold (in shares) | 1 |