Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 02, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | QUMU CORP | |
Entity Central Index Key | 0000892482 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 9,790,392 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 8,571 | $ 8,636 |
Receivables, net of allowance for doubtful accounts of $79 and $61, respectively | 4,380 | 6,278 |
Contract assets | 1,661 | 485 |
Income tax receivable | 339 | 327 |
Prepaid expenses and other current assets | 2,140 | 2,192 |
Total current assets | 17,091 | 17,918 |
Property and equipment, net of accumulated depreciation of $2,912 and $2,809, respectively | 680 | 545 |
Right of use assets – operating leases | 1,128 | 0 |
Intangible assets, net | 3,956 | 4,247 |
Goodwill | 7,134 | 6,971 |
Deferred income taxes, non-current | 53 | 55 |
Other assets, non-current | 476 | 544 |
Total assets | 30,518 | 30,280 |
Current liabilities: | ||
Accounts payable and other accrued liabilities | 2,640 | 2,838 |
Accrued compensation | 1,150 | 1,548 |
Deferred revenue | 9,558 | 9,672 |
Operating lease liabilities | 549 | 0 |
Deferred rent | 0 | 45 |
Financing obligations | 131 | 152 |
Term loan | 3,559 | 0 |
Warrant liability | 3,087 | 2,798 |
Total current liabilities | 20,674 | 17,053 |
Long-term liabilities: | ||
Deferred revenue, non-current | 1,425 | 1,672 |
Income taxes payable, non-current | 568 | 563 |
Deferred tax liability, non-current | 0 | 2 |
Operating lease liabilities, non-current | 1,021 | 0 |
Deferred rent, non-current | 0 | 302 |
Financing obligations, non-current | 146 | 57 |
Term loan, non-current | 0 | 3,431 |
Other non-current liabilities | 0 | 195 |
Total long-term liabilities | 3,160 | 6,222 |
Total liabilities | 23,834 | 23,275 |
Commitments and contingencies (Note 4) | 0 | 0 |
Stockholders’ equity: | ||
Preferred stock, $0.01 par value, authorized 250,000 shares, no shares issued and outstanding | 0 | 0 |
Common stock, $0.01 par value, authorized 29,750,000 shares, issued and outstanding 9,765,392 and 9,624,060, respectively | 98 | 96 |
Additional paid-in capital | 69,266 | 69,072 |
Accumulated deficit | (59,635) | (58,875) |
Accumulated other comprehensive loss | (3,045) | (3,288) |
Total stockholders’ equity | 6,684 | 7,005 |
Total liabilities and stockholders’ equity | $ 30,518 | $ 30,280 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Receivables, allowance for doubtful accounts | $ 79 | $ 61 |
Property and equipment, accumulated depreciation and amortization | $ 2,912 | $ 2,809 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 29,750,000 | 29,750,000 |
Common stock, shares issued (in shares) | 9,765,392 | 9,624,060 |
Common stock, shares outstanding (in shares) | 9,765,392 | 9,624,060 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 250,000 | 250,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenues: | ||
Total revenues | $ 7,098 | $ 4,831 |
Cost of revenues: | ||
Total cost of revenues | 1,537 | 2,112 |
Gross profit | 5,561 | 2,719 |
Operating expenses: | ||
Research and development | 1,674 | 1,903 |
Sales and marketing | 2,352 | 2,180 |
General and administrative | 1,746 | 2,181 |
Amortization of purchased intangibles | 218 | 229 |
Total operating expenses | 5,990 | 6,493 |
Operating loss | (429) | (3,774) |
Other income (expense): | ||
Interest expense, net | (205) | (844) |
Decrease (increase) in fair value of warrant liability | (289) | 387 |
Other, net | (31) | (387) |
Total other expense, net | (525) | (844) |
Loss before income taxes | (954) | (4,618) |
Income tax benefit | (4) | (88) |
Net loss | $ (950) | $ (4,530) |
Net loss per share (in dollars per share) | $ (0.10) | $ (0.48) |
Weighted average shares outstanding (in shares) | 9,688 | 9,370 |
Software licenses and appliances | ||
Revenues: | ||
Total revenues | $ 1,005 | $ 451 |
Cost of revenues: | ||
Total cost of revenues | 311 | 335 |
Service | ||
Revenues: | ||
Total revenues | 6,093 | 4,380 |
Cost of revenues: | ||
Total cost of revenues | $ 1,226 | $ 1,777 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (950) | $ (4,530) |
Other comprehensive income (loss): | ||
Net change in foreign currency translation adjustments | 243 | 623 |
Total other comprehensive income | 243 | 623 |
Total comprehensive loss | $ (707) | $ (3,907) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss |
Beginning balance (in shares) at Dec. 31, 2017 | 9,365 | ||||
Beginning balance at Dec. 31, 2017 | $ 9,192 | $ 94 | $ 68,035 | $ (56,197) | $ (2,740) |
Net loss | (4,530) | (4,530) | |||
Other comprehensive income, net of taxes | 623 | 623 | |||
Issuance of stock under stock plan (in shares) | 24 | ||||
Issuance of stock under employee stock plan, net of forfeitures | 0 | $ 0 | 0 | ||
Redemption of stock to cover tax withholding for employee stock plan (in shares) | (11) | ||||
Redemption of stock to cover tax withholding for employee stock plan | (19) | $ 0 | (19) | ||
Stock-based compensation | 210 | 210 | |||
Ending balance (in shares) at Mar. 31, 2018 | 9,378 | ||||
Ending balance at Mar. 31, 2018 | 6,410 | $ 94 | 68,226 | (59,788) | (2,122) |
Beginning balance (in shares) at Dec. 31, 2018 | 9,624 | ||||
Beginning balance at Dec. 31, 2018 | 7,005 | $ 96 | 69,072 | (58,875) | (3,288) |
Net loss | (950) | (950) | |||
Other comprehensive income, net of taxes | 243 | 243 | |||
Issuance of stock under stock plan (in shares) | 156 | ||||
Issuance of stock under employee stock plan, net of forfeitures | 1 | $ 2 | (1) | ||
Redemption of stock to cover tax withholding for employee stock plan (in shares) | (15) | ||||
Redemption of stock to cover tax withholding for employee stock plan | (36) | $ 0 | (36) | ||
Stock-based compensation | 231 | 231 | |||
Ending balance (in shares) at Mar. 31, 2019 | 9,765 | ||||
Ending balance at Mar. 31, 2019 | $ 6,684 | $ 98 | $ 69,266 | $ (59,635) | $ (3,045) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating activities: | ||
Net loss | $ (950) | $ (4,530) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 408 | 699 |
Stock-based compensation | 231 | 210 |
Accretion of debt discount and issuance costs | 128 | 746 |
Gain on lease modification | (21) | 0 |
Change in fair value of warrant liability | 289 | (387) |
Deferred income taxes | 0 | (37) |
Changes in operating assets and liabilities: | ||
Receivables | 1,914 | 1,645 |
Contract assets | (1,176) | 14 |
Income taxes receivable / payable | (3) | (62) |
Prepaid expenses and other assets | 125 | (317) |
Accounts payable and other accrued liabilities | (75) | (444) |
Accrued compensation | (405) | 0 |
Deferred revenue | (424) | 603 |
Deferred rent | 0 | (75) |
Other non-current liabilities | (24) | 186 |
Net cash provided by (used in) operating activities | 17 | (1,749) |
Investing activities: | ||
Purchases of property and equipment | (14) | (2) |
Net cash used in investing activities | (14) | (2) |
Financing activities: | ||
Proceeds from term loan and warrant issuance | 0 | 10,000 |
Principal payments on term loans | 0 | (8,000) |
Payments for term loan issuance costs | 0 | (1,308) |
Principal payments on financing obligations | (80) | (99) |
Common stock repurchases to settle employee withholding liability | (36) | (19) |
Net cash provided by (used in) financing activities | (116) | 574 |
Effect of exchange rate changes on cash | 48 | 45 |
Net decrease in cash and cash equivalents | (65) | (1,132) |
Cash and cash equivalents, beginning of period | 8,636 | |
Cash and cash equivalents, end of period | 8,571 | 6,558 |
Supplemental disclosures of net cash paid (received) during the period: | ||
Income taxes, net | (17) | 6 |
Interest, net | $ 4 | $ 33 |
Nature of Business and Basis of
Nature of Business and Basis of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business and Basis of Presentation | Nature of Business and Basis of Presentation Qumu Corporation ("Qumu" or the "Company") provides the software solutions to create, manage, secure, distribute and measure the success of live and on-demand video for the enterprise. The Qumu platform enables global organizations to drive employee engagement, increase access to video, and modernize the workplace by providing a more efficient and effective way to share knowledge. The world’s largest organizations leverage the Qumu platform for a variety of cloud, on-premise and hybrid deployments. Use cases including self-service webcasting, sales enablement, internal communications, product training, regulatory compliance and customer engagement. The Company markets its products to customers primarily in North America, Europe and Asia. The Company views its operations and manages its business as one segment and one reporting unit. Factors used to identify the Company's single operating segment and reporting unit include the financial information available for evaluation by the chief operating decision maker in making decisions about how to allocate resources and assess performance. The Company manages the marketing of its products and services through regional sales representatives and independent distributors in the United States and international markets. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying condensed consolidated financial statements are unaudited and have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Pursuant to such rules and regulations, certain financial information and footnote disclosures normally included in a complete set of financial statements have been condensed or omitted. However, in the opinion of management, the financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the financial position and results of operations and cash flows of the interim periods presented. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2018 . Leases The Company is a lessee in several non-cancellable (1) operating leases, primarily for office space, and (2) finance leases, for certain IT equipment. Beginning January 1, 2019, the Company accounts for leases in accordance with ASU 2016-02, Leases , and the related amendments (collectively, "Topic 842"). The Company determines if an arrangement is or contains a lease at contract inception and recognizes a right of use (ROU) asset and a lease liability at the lease commencement date. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For finance leases, the lease liability is initially measured in the same manner and at the same date as for operating leases, and is subsequently measured at amortized cost using the effective interest method. Key estimates and judgments in accounting for leases under Topic 842 include how the Company determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) lease term and (3) lease payments. – ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Company cannot determine the interest rate implicit in the lease because it does not have access to the lessor’s information. Therefore, the Company uses its incremental borrowing rate as the discount rate for the lease. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. – The lease term for all of the Company’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Company option to extend the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. – Lease payments included in the measurement of the lease liability include the fixed payments owed over the lease term, termination penalties, amounts expected to be payable under a residual-value guarantee, and the exercise price of an option to purchase the asset if the Company is reasonably certain to exercise the option. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus any prepaid lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For finance leases, the ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less. The Company recognizes the lease payments associated with its short-term leases as an expense on a straight-line basis over the lease term. Recently Adopted Accounting Standards Leases (Topic 842) On January 1, 2019, the Company adopted ASU 2016-02, Leases , and the related amendments (collectively, "Topic 842"), using the modified retrospective transition approach as of the effective date. The comparative information in the condensed consolidated financial statements has not been revised and continues to be reported under the previously applicable lease accounting guidance. In addition, the Company elected the package of practical expedients, which permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. However, the Company did not adopt the hindsight practical expedient, and therefore continues to utilize lease terms determined under pre-Topic 842 lease guidance. As a result of adopting ASU 2016-02, the Company recognized additional operating lease liabilities of $1.9 million (of which $759,000 was current and $1.1 million was non-current) and corresponding ROU assets of $1.4 million as of January 1, 2019. Additionally, upon adoption of this standard, the Company recognized a cumulative-effect adjustment to accumulated deficit of $190,000 , net of taxes, as of January 1, 2019. The new lease guidance did not have a material impact on the Company's condensed consolidated statements of operations or cash flows or compliance with debt covenants. For additional information regarding the Company's leases, see Note 4–"Commitments and Contingencies." The cumulative effect of the changes made to our January 1, 2019 condensed consolidated balance sheet from the modified retrospective adoption of Topic 842 is as follows (in thousands): December 31, Adjustments January 1, Assets: Property and equipment $ 545 $ 124 $ 669 Operating lease assets — 1,367 1,367 Liabilities: Accounts payable and other accrued liabilities $ 2,838 $ (211 ) $ 2,627 Operating lease liabilities — 759 759 Deferred rent 45 (45 ) — Operating lease liabilities, non-current — 1,100 1,100 Deferred rent, non-current 302 (302 ) — Stockholders’ equity: Accumulated deficit $ (58,875 ) $ 190 $ (58,685 ) Adjustments to accounts payable and other accrued liabilities include the derecognition of a contract termination obligation of $218,000 upon adoption of Topic 842. See Note 4–"Commitments and Contingencies" for additional information. Income Statement – Reporting Comprehensive Income (Topic 220) On January 1, 2019, the Company adopted ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) , which allows a reclassification from accumulated other comprehensive income (loss) to retained earnings (accumulated deficit) for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 and requires certain disclosures regarding stranded tax effects in accumulated other comprehensive income (loss). The Company did not reclassify any income tax effects of the Tax Cuts and Jobs Act of 2017 from accumulated other comprehensive loss to accumulated deficit. Accounting Standards Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) , which changes the fair value measurement disclosure requirements of ASC 820. The ASU is effective for all entities for fiscal years beginning after December 15, 2019, including interim periods therein. Early adoption is permitted for any eliminated or modified disclosures upon issuance of this ASU. The Company does not believe the impact of adopting this standard will be material to its consolidated financial statements disclosures. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The purpose of the amendment is to simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company does not believe the impact of adopting this standard will be material to its consolidated financial statements. |
Revenue (Notes)
Revenue (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue The Company generates revenue through the sale of enterprise video content management software, hardware, maintenance and support, and professional and other services. Software sales may take the form of a perpetual software license, a cloud-hosted software as a service (SaaS) or a term software license. Software licenses and appliances revenue includes sales of perpetual software licenses and hardware. Service revenue includes SaaS, term software licenses, maintenance and support, and professional and other services. Revenues by product category and geography The Company combines its products and services into three product categories and three geographic regions, based on customer location, as follows (in thousands): Three Months Ended 2019 2018 Software licenses and appliances $ 1,005 $ 451 Service Subscription, maintenance and support 5,563 4,038 Professional services and other 530 342 Total service 6,093 4,380 Total revenues $ 7,098 $ 4,831 Three Months Ended 2019 2018 North America $ 4,308 $ 2,810 Europe 2,241 1,610 Asia 549 411 Total $ 7,098 $ 4,831 Contract Balances The Company’s balances for contract assets totaled $1.7 million and $485,000 as of March 31, 2019 and December 31, 2018 , respectively. The Company’s balances for contract liabilities, which are included in deferred revenue, totaled $11.0 million and $11.3 million as of March 31, 2019 and December 31, 2018 , respectively. During the three months ended March 31, 2019 , the Company recognized $3.7 million of revenue that was included in the deferred revenue balance at the beginning of the period. All other activity in deferred revenue is due to the timing of invoices in relation to the timing of recognizable revenue as described above. 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 $19.8 million as of March 31, 2019 , of which the Company expects to recognize $11.3 million of revenue over the next 12 months and the remainder thereafter. During the three months ended March 31, 2019 and 2018 , no revenue was recognized from performance obligations satisfied in previous periods. Deferred Sales Commissions Deferred commission costs included in prepaid expenses and other assets were $491,000 and $527,000 at March 31, 2019 and December 31, 2018 , respectively. Deferred commission costs in other assets, non-current were $24,000 and $33,000 at March 31, 2019 and December 31, 2018 , respectively. The Company recognized commissions expense of $555,000 and $226,000 during the three months ended March 31, 2019 and 2018 , respectively. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Intangible Assets The Company’s amortizable intangible assets consisted of the following (in thousands): March 31, 2019 Customer Relationships Developed Technology Trademarks / Trade-Names Total Original cost $ 4,860 $ 8,102 $ 2,181 $ 15,143 Accumulated amortization (2,876 ) (7,332 ) (979 ) (11,187 ) Net identifiable intangible assets $ 1,984 $ 770 $ 1,202 $ 3,956 December 31, 2018 Customer Relationships Developed Technology Trademarks / Trade-Names Total Original cost $ 4,818 $ 8,023 $ 2,180 $ 15,021 Accumulated amortization (2,721 ) (7,110 ) (943 ) (10,774 ) Net identifiable intangible assets $ 2,097 $ 913 $ 1,237 $ 4,247 Changes to the carrying amount of net amortizable intangible assets consisted of the following (in thousands): Three Months Ended Balance, beginning of period $ 4,247 Amortization expense (335 ) Currency translation 44 Balance, end of period $ 3,956 Amortization expense of intangible assets consisted of the following (in thousands): Three Months Ended 2019 2018 Amortization expense associated with the developed technology included in cost of revenues $ 117 $ 298 Amortization expense associated with other acquired intangible assets included in operating expenses 218 229 Total amortization expense $ 335 $ 527 Goodwill On October 3, 2014, the Company completed the acquisition of Kulu Valley, Ltd., subsequently renamed Qumu Ltd., and recognized $8.8 million of goodwill and $6.7 million of intangible assets. The goodwill balance of $7.1 million at March 31, 2019 reflects the impact of foreign currency exchange rate fluctuations since the acquisition date. As of March 31, 2019 , the Company’s market capitalization, without a control premium, was greater than its book value and, as a result, the Company concluded there was no goodwill impairment. Declines in the Company’s market capitalization or a downturn in its future financial performance and/or future outlook could require the Company to record goodwill and other impairment charges. While a goodwill impairment charge is a non-cash charge, it would have a negative impact on the Company's results of operations. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Leases The Company is obligated under finance leases covering certain IT equipment that expire at various dates over the next three years. The Company also has several non-cancellable operating leases, primarily for office space, that expire over the next four years. The Company has one lease that contains a renewal option for a period of five years. Because the Company is not reasonably certain to exercise this option, the option is not considered in determining the lease term under Topic 842, which was adopted January 1, 2019. Many of the Company's leases include escalation clauses, renewal options and/or termination options that are factored into its determination of lease payments under Topic 842 when reasonably certain. These options to extend or terminate a lease are at the Company's discretion. The Company has elected to take the practical expedient and not separate lease and non-lease components of contracts. The Company estimates its incremental borrowing rate to discount the lease payments based on information available at lease commencement under Topic 842. The Company's lease agreements do not contain any material residual value guarantees. The components of lease cost were as follows (in thousands): Three Months Ended Operating lease cost $ 193 Finance lease cost: Amortization of right of use assets 13 Interest on lease liabilities 2 Total finance cost 15 Total lease cost $ 208 The Company's ROU assets and lease liabilities were reported in the condensed consolidated balance sheet as follows (in thousands): Leases Classification on Balance Sheet March 31, Assets Operating Right of use assets – operating leases $ 1,128 Finance Property and equipment 224 Total lease assets $ 1,352 Liabilities Current Operating Operating lease liabilities $ 549 Finance Financing obligations 79 Non-current Operating Operating lease liabilities, non-current 1,021 Finance Financing obligations, non-current 146 Total lease liabilities $ 1,795 Other information related to leases were as follows (in thousands): Three Months Ended Supplemental cash flow information: Cash paid for amounts included in the measurement of lease liabilities Operating cash flow from operating leases $ 96 Operating cash flow from finance leases 13 Financing cash flow from finance leases 11 ROU assets obtained in exchange for new lease obligations Finance leases $ 148 Weighted-average remaining lease term: Operating leases 3.3 years Finance leases 2.8 years Weighted-average discount rate: Operating leases 10.0 % Finance leases 6.2 % Future payments used in the measurement of lease liabilities on the condensed consolidated balance sheet as of March 31, 2019 are as follows (in thousands): Operating leases Finance leases Remainder of 2019 $ 566 $ 68 2020 427 91 2021 435 80 2022 393 5 2023 20 — Total undiscounted lease payments 1,841 244 Less amount representing interest (271 ) (19 ) Present value of lease liabilities $ 1,570 $ 225 Subleases The Company determined that it had excess capacity at its Minneapolis, Minnesota headquarters and its London, United Kingdom office and effective May 1, 2018 and December 31, 2017, respectively, ceased using portions of its leased spaces, subsequently making them available for occupancy by sublessees. The Minneapolis sublease agreement had a term beginning May 1, 2018 and extending through January 2023. On January 17, 2019, the Company terminated the Minneapolis sublease agreement, effective February 15, 2019, and contemporaneously modified the Company's head lease agreement to relinquish to the lessor, and be relieved of future lease payments for, the previously sublet space, effective March 1, 2019. Upon modification of the Minneapolis lease agreement, the Company recognized a gain of $21,000 , which is reported in other income (expense) in the Company's condensed consolidated statement of operations. Sublease income from the Company's subleases was $38,000 for the three months ended March 31, 2019, which is reported in other income (expense) in the Company's condensed consolidated statement of operations. Prior to the adoption of Topic 842 on January 1, 2019, the Company accounted for the above subleases under guidance for exit and disposal activities (ASC 420). As such, the Company carried a lease contract termination liability of $218,000 as of December 31, 2018, representing the liability at fair value for the future contractual lease payments, net of expected sublease receipts. Term Loans The Company's term loan is reported in the condensed consolidated balance sheets as follows (in thousands): March 31, December 31, Term loan, at face value $ 4,000 $ 4,000 Unamortized original issue discount (373 ) (481 ) Unamortized debt issuance costs (68 ) (88 ) Term loan $ 3,559 $ 3,431 Credit Agreement – ESW Holdings, Inc. On January 12, 2018, the Company and its wholly-owned subsidiary, Qumu, Inc., entered into a $10.0 million term loan credit agreement (the “ESW credit agreement”) with ESW Holdings, Inc. as lender and administrative agent to replace its previous $8.0 million term loan credit agreement with HCP-FVD, LLC as lender and Hale Capital Partners, LP as administrative agent. Following the Company's $6.0 million principal payment on July 19, 2018, the term loan with ESW Holdings, Inc. has an outstanding principal balance of $4.0 million . The term loan is scheduled to mature on January 10, 2020. Interest accrues and compounds monthly at a variable rate per annum equal to the prime rate plus 4.0% . As of both March 31, 2019 and December 31, 2018, interest was payable at 9.50% . The Company may prepay the term loan at any time with the payment of a prepayment fee of 10% of the amount prepaid. However, no prepayment fee will be due for any prepayment made from the proceeds of the Company’s sale of its investment in BriefCam. The term loan had an estimated fair value of $3.6 million as of March 31, 2019 . The fair value of the term loan is estimated using a discounted cash flow analysis based on the Company’s current incremental borrowing rate. As the contractual terms of the loan provide all the necessary inputs for this calculation, the term loan is classified as Level 2 within the fair value hierarchy. The estimated fair value is not necessarily indicative of the amount that would be realized in a current market exchange. Covenant Compliance The ESW credit agreement contains affirmative and negative covenants and requirements relating to the Company and its operations. The Company was in compliance with all financial covenants during the three months ended March 31, 2019 . The Company’s monthly, quarterly and annual results of operations are subject to significant fluctuations due to a variety of factors, many of which are outside of the Company’s control. These factors include the number and mix of products and solutions sold in the period, timing of customer purchase commitments, including the impact of long sales cycles and seasonal buying patterns, and variability in the size of customer purchases and the impact of large customer orders on a particular period. The foregoing factors are difficult to forecast, and these, as well as other factors, could adversely affect the Company’s monthly, quarterly and annual results of operations. Failure to achieve its monthly, quarterly or annual forecasts may result in the Company being out of compliance with covenants or projecting noncompliance in the future. Management actively monitors its opportunity pipeline, forecast, and projected covenant compliance on an ongoing basis. Contingencies The Company is exposed to a number of asserted and unasserted claims encountered in the normal course of business. Legal costs related to loss contingencies are expensed as incurred. In the opinion of management, the resolution of these matters will not have a material adverse effect on the Company’s financial position or results of operations. The Company’s standard arrangements include provisions indemnifying customers against liabilities if the Company's products infringe a third-party’s intellectual property rights. The Company has not incurred any costs in its continuing operations as a result of such indemnifications and has not accrued any liabilities related to such contingent obligations in the accompanying condensed consolidated financial statements. |
Fair Value Measurements (Notes)
Fair Value Measurements (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements A hierarchy for inputs used in measuring fair value is in place that distinguishes market data between observable independent market inputs and unobservable market assumptions by the reporting entity. The hierarchy is intended to maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that the most observable inputs be used when available. Three levels within the hierarchy may be used to measure fair value: • Level 1: Inputs are unadjusted quoted prices in active markets for identical assets and liabilities. • Level 2: Inputs include data points that are observable such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset or liability, either directly or indirectly. • Level 3: Inputs are generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect an entity’s own estimates of assumptions that market participants would use in pricing the asset or liability. In conjunction with the debt financings completed in October 2016 and January 2018, the Company issued two warrants for the purchase of up to an aggregate of 1,239,286 shares of the Company's common stock, which remained unexercised and outstanding at March 31, 2019 . The warrant issued in conjunction with the October 21, 2016 debt financing (Hale warrant) for the purchase of up to 314,286 shares of the Company's common stock expires on October 21, 2026, has an exercise price of $2.80 per share and is transferable. The warrant issued in conjunction with the January 12, 2018 debt financing (ESW warrant) for the purchase of up to 925,000 shares of the Company's common stock expires on January 12, 2028, has an exercise price of $1.96 per share and is transferable. Additionally, on August 31, 2018, the Company issued a warrant to a sales partner, iStudy Co., Ltd., (iStudy warrant) for the purchase of up to 100,000 shares of the Company's common stock; the warrant expires on August 31, 2028, has an exercise price of $2.43 per share and is transferable. The Hale warrant and ESW warrant contain a cash settlement feature upon the occurrence of a certain events, essentially the sale of the Company as defined in the warrant agreements. Upon a sale of the Company, the holder of the iStudy warrant may exercise the warrant or may elect to receive the same consideration as it would have been entitled to receive upon the occurrence of such transaction if it had been the holder of the shares then issuable upon such exercise of the warrant. As a result of these features, the warrants are subject to derivative accounting as prescribed under ASC 815. Accordingly, the fair value of the warrants on the dates of issuance was recorded in the Company’s condensed consolidated balance sheets as a liability. The warrant liability was recorded in the Company's condensed consolidated balance sheets at its fair value on the respective dates of issuance and is revalued on each subsequent balance sheet date until such instrument is exercised or expires, with any changes in the fair value between reporting periods recorded as other income or expense. The Company recorded a non-cash loss of $289,000 during the three months ended March 31, 2019 and a non-cash gain $387,000 for the three months ended March 31, 2018 from the change in fair value of the warrant liability. The increase in fair value for the three months ended March 31, 2019 was primarily driven by a corresponding increase in the Company’s stock price. The decrease in fair value during the three months ended March 31, 2018 was primarily driven by decreases in both the Company’s stock price and related volatility impacting the fair value of both of the Hale warrant and the ESW warrant. The Company estimates the fair value of this liability using option pricing models that are based on the individual characteristics of the warrants on the valuation date, which include assumptions for expected volatility, expected life and risk-free interest rate, as well as the present value of the minimum cash payment component of the instrument for the warrants, when applicable. Changes in the assumptions used could have a material impact on the resulting fair value. The primary inputs affecting the value of the warrant liability are the Company’s stock price and volatility in the Company's stock price, as well as assumptions about the probability and timing of certain events, such as a change in control or future equity offerings. Increases in the fair value of the underlying stock or increases in the volatility of the stock price generally result in a corresponding increase in the fair value of the warrant liability; conversely, decreases in the fair value of the underlying stock or decreases in the volatility of the stock price generally result in a corresponding decrease in the fair value of the warrant liability. The Company’s liabilities measured at fair value on a recurring basis and the fair value hierarchy utilized to determine such fair values is as follows at March 31, 2019 and December 31, 2018 (in thousands): Fair Value Measurements Using Total Fair Quoted Prices in Significant Other Significant Liabilities: Derivative warrant liability - ESW warrant $ 2,266 $ — $ — $ 2,266 Derivative warrant liability - Hale warrant 761 — — 761 Derivative warrant liability - iStudy 60 — — 60 Derivative warrant liability $ 3,087 $ — $ — $ 3,087 Fair Value Measurements Using Total Fair Quoted Prices in Significant Other Significant Liabilities: Derivative warrant liability - ESW warrant $ 2,015 $ — $ — $ 2,015 Derivative warrant liability - Hale warrant 750 — — 750 Derivative warrant liability - iStudy 33 — — 33 Derivative warrant liability $ 2,798 $ — $ — $ 2,798 The Company classified the warrant liability as Level 3 due to the lack of relevant observable market data over fair value inputs such as the probability-weighting of the various scenarios in the arrangements. The following table represents a rollforward of the fair value of the Level 3 instruments (significant unobservable inputs): Balance at December 31, 2018 $ 2,798 Change in fair value 289 Balance at March 31, 2019 $ 3,087 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company granted the following stock-based awards: Three Months Ended 2019 2018 Stock options 17,000 — Restricted stock awards and restricted stock units 98,492 — The stock options and restricted stock awards granted during the three months ended March 31, 2019 and 2018 were granted under the Company's Second Amended and Restated 2007 Stock Incentive Plan (the "2007 Plan"), a shareholder approved plan. The Company granted performance stock units during 2018 ("2018 Performance Stock Units") and 2017 ("2017 Performance Stock Units"). The 2018 Performance Stock Units consisted of 147,741 units outstanding as of December 31, 2018, of which 98,492 vested during the three months ended March 31, 2019. In settlement of the vested 2018 Performance Stock Units, during the three months ended March 31, 2019, the Company issued 98,492 shares of restricted stock upon vesting, which is equal to the number of 2018 Performance Stock Units vested multiplied by the percentage achievement of the performance goals of 100.0% . The 2017 Performance Stock Units consisted of 140,493 units outstanding as of December 31, 2017, of which 116,168 vested during the three months ended March 31, 2018. In settlement of the vested 2017 Performance Stock Units, during the three months ended March 31, 2018, the Company issued 25,726 shares upon vesting, which is equal to the number of 2017 Performance Stock Units vested multiplied by the weighted percentage achievement of the performance goals for the 2017 Incentive Plan of approximately 22.1% . The Company recognized the following expense related to its share-based payment arrangements (in thousands): Three Months Ended 2019 2018 Stock-based compensation cost, before income tax benefit: Stock options $ 94 $ 47 Restricted stock awards and restricted stock units 132 163 Performance stock units 5 — Total stock-based compensation $ 231 $ 210 Three Months Ended 2019 2018 Stock-based compensation cost included in: Cost of revenues $ 8 $ 10 Operating expenses 223 200 Total stock-based compensation $ 231 $ 210 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income taxes | Income Taxes As of March 31, 2019 and December 31, 2018 , the Company’s liability for gross unrecognized tax benefits totaled $1.7 million and $1.7 million , respectively (excluding interest and penalties). The Company had accrued interest and penalties relating to unrecognized tax benefits of $11,100 and $5,600 on a gross basis at March 31, 2019 and December 31, 2018 , respectively. The change in the liability for gross unrecognized tax benefits reflects an increase in interest and penalty reserves established for federal and state uncertain tax positions. The Company does not currently expect significant changes in the amount of unrecognized tax benefits during the next twelve months. |
Computation of Net Loss Per Sha
Computation of Net Loss Per Share of Common Stock | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Net Loss Per Share of Common Stock | Computation of Net Loss Per Share of Common Stock The following table identifies the components of net loss per basic and diluted share (in thousands, except for per share data): Three Months Ended 2019 2018 Net loss per share – basic and diluted Net loss $ (950 ) $ (4,530 ) Weighted average shares outstanding 9,688 9,370 Net loss per share $ (0.10 ) $ (0.48 ) Stock options, warrants and restricted stock units to acquire common shares excluded from the computation of diluted weighted-average common shares as their effect is anti-dilutive were as follows (in thousands): Three Months Ended 2019 2018 Stock options 1,416 1,316 Warrants 1,339 1,126 Restricted stock units 150 150 Total anti-dilutive 2,905 2,592 |
Nature of Business and Basis _2
Nature of Business and Basis of Presentation Leases (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lessee, Leases [Policy Text Block] | Leases The Company is a lessee in several non-cancellable (1) operating leases, primarily for office space, and (2) finance leases, for certain IT equipment. Beginning January 1, 2019, the Company accounts for leases in accordance with ASU 2016-02, Leases , and the related amendments (collectively, "Topic 842"). The Company determines if an arrangement is or contains a lease at contract inception and recognizes a right of use (ROU) asset and a lease liability at the lease commencement date. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For finance leases, the lease liability is initially measured in the same manner and at the same date as for operating leases, and is subsequently measured at amortized cost using the effective interest method. Key estimates and judgments in accounting for leases under Topic 842 include how the Company determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) lease term and (3) lease payments. – ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Company cannot determine the interest rate implicit in the lease because it does not have access to the lessor’s information. Therefore, the Company uses its incremental borrowing rate as the discount rate for the lease. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. – The lease term for all of the Company’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Company option to extend the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. – Lease payments included in the measurement of the lease liability include the fixed payments owed over the lease term, termination penalties, amounts expected to be payable under a residual-value guarantee, and the exercise price of an option to purchase the asset if the Company is reasonably certain to exercise the option. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus any prepaid lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For finance leases, the ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less. The Company recognizes the lease payments associated with its short-term leases as an expense on a straight-line basis over the lease term. |
Revenue Revenue (Policies)
Revenue Revenue (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue The Company generates revenue through the sale of enterprise video content management software, hardware, maintenance and support, and professional and other services. Software sales may take the form of a perpetual software license, a cloud-hosted software as a service (SaaS) or a term software license. Software licenses and appliances revenue includes sales of perpetual software licenses and hardware. Service revenue includes SaaS, term software licenses, maintenance and support, and professional and other services. |
Nature of Business and Basis _3
Nature of Business and Basis of Presentation Accounting Standards Recently Adopted (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Recently Issued Accounting Standards | The cumulative effect of the changes made to our January 1, 2019 condensed consolidated balance sheet from the modified retrospective adoption of Topic 842 is as follows (in thousands): December 31, Adjustments January 1, Assets: Property and equipment $ 545 $ 124 $ 669 Operating lease assets — 1,367 1,367 Liabilities: Accounts payable and other accrued liabilities $ 2,838 $ (211 ) $ 2,627 Operating lease liabilities — 759 759 Deferred rent 45 (45 ) — Operating lease liabilities, non-current — 1,100 1,100 Deferred rent, non-current 302 (302 ) — Stockholders’ equity: Accumulated deficit $ (58,875 ) $ 190 $ (58,685 ) |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of revenue | The Company combines its products and services into three product categories and three geographic regions, based on customer location, as follows (in thousands): Three Months Ended 2019 2018 Software licenses and appliances $ 1,005 $ 451 Service Subscription, maintenance and support 5,563 4,038 Professional services and other 530 342 Total service 6,093 4,380 Total revenues $ 7,098 $ 4,831 Three Months Ended 2019 2018 North America $ 4,308 $ 2,810 Europe 2,241 1,610 Asia 549 411 Total $ 7,098 $ 4,831 |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of acquired intangible assets (excluding goodwill) | The Company’s amortizable intangible assets consisted of the following (in thousands): March 31, 2019 Customer Relationships Developed Technology Trademarks / Trade-Names Total Original cost $ 4,860 $ 8,102 $ 2,181 $ 15,143 Accumulated amortization (2,876 ) (7,332 ) (979 ) (11,187 ) Net identifiable intangible assets $ 1,984 $ 770 $ 1,202 $ 3,956 December 31, 2018 Customer Relationships Developed Technology Trademarks / Trade-Names Total Original cost $ 4,818 $ 8,023 $ 2,180 $ 15,021 Accumulated amortization (2,721 ) (7,110 ) (943 ) (10,774 ) Net identifiable intangible assets $ 2,097 $ 913 $ 1,237 $ 4,247 Changes to the carrying amount of net amortizable intangible assets consisted of the following (in thousands): Three Months Ended Balance, beginning of period $ 4,247 Amortization expense (335 ) Currency translation 44 Balance, end of period $ 3,956 |
Amortization of acquired intangible assets | Amortization expense of intangible assets consisted of the following (in thousands): Three Months Ended 2019 2018 Amortization expense associated with the developed technology included in cost of revenues $ 117 $ 298 Amortization expense associated with other acquired intangible assets included in operating expenses 218 229 Total amortization expense $ 335 $ 527 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Lease, Cost | The components of lease cost were as follows (in thousands): Three Months Ended Operating lease cost $ 193 Finance lease cost: Amortization of right of use assets 13 Interest on lease liabilities 2 Total finance cost 15 Total lease cost $ 208 Other information related to leases were as follows (in thousands): Three Months Ended Supplemental cash flow information: Cash paid for amounts included in the measurement of lease liabilities Operating cash flow from operating leases $ 96 Operating cash flow from finance leases 13 Financing cash flow from finance leases 11 ROU assets obtained in exchange for new lease obligations Finance leases $ 148 Weighted-average remaining lease term: Operating leases 3.3 years Finance leases 2.8 years Weighted-average discount rate: Operating leases 10.0 % Finance leases 6.2 % |
Assets And Liabilities, Lessee | The Company's ROU assets and lease liabilities were reported in the condensed consolidated balance sheet as follows (in thousands): Leases Classification on Balance Sheet March 31, Assets Operating Right of use assets – operating leases $ 1,128 Finance Property and equipment 224 Total lease assets $ 1,352 Liabilities Current Operating Operating lease liabilities $ 549 Finance Financing obligations 79 Non-current Operating Operating lease liabilities, non-current 1,021 Finance Financing obligations, non-current 146 Total lease liabilities $ 1,795 |
Lessee, Operating Lease, Liability, Maturity | Future payments used in the measurement of lease liabilities on the condensed consolidated balance sheet as of March 31, 2019 are as follows (in thousands): Operating leases Finance leases Remainder of 2019 $ 566 $ 68 2020 427 91 2021 435 80 2022 393 5 2023 20 — Total undiscounted lease payments 1,841 244 Less amount representing interest (271 ) (19 ) Present value of lease liabilities $ 1,570 $ 225 |
Finance Lease, Liability, Maturity | Future payments used in the measurement of lease liabilities on the condensed consolidated balance sheet as of March 31, 2019 are as follows (in thousands): Operating leases Finance leases Remainder of 2019 $ 566 $ 68 2020 427 91 2021 435 80 2022 393 5 2023 20 — Total undiscounted lease payments 1,841 244 Less amount representing interest (271 ) (19 ) Present value of lease liabilities $ 1,570 $ 225 |
Schedule of Long-term Debt Instruments | The Company's term loan is reported in the condensed consolidated balance sheets as follows (in thousands): March 31, December 31, Term loan, at face value $ 4,000 $ 4,000 Unamortized original issue discount (373 ) (481 ) Unamortized debt issuance costs (68 ) (88 ) Term loan $ 3,559 $ 3,431 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The Company’s liabilities measured at fair value on a recurring basis and the fair value hierarchy utilized to determine such fair values is as follows at March 31, 2019 and December 31, 2018 (in thousands): Fair Value Measurements Using Total Fair Quoted Prices in Significant Other Significant Liabilities: Derivative warrant liability - ESW warrant $ 2,266 $ — $ — $ 2,266 Derivative warrant liability - Hale warrant 761 — — 761 Derivative warrant liability - iStudy 60 — — 60 Derivative warrant liability $ 3,087 $ — $ — $ 3,087 Fair Value Measurements Using Total Fair Quoted Prices in Significant Other Significant Liabilities: Derivative warrant liability - ESW warrant $ 2,015 $ — $ — $ 2,015 Derivative warrant liability - Hale warrant 750 — — 750 Derivative warrant liability - iStudy 33 — — 33 Derivative warrant liability $ 2,798 $ — $ — $ 2,798 |
Fair Value, Liabilities Measured on Recurring Basis | The following table represents a rollforward of the fair value of the Level 3 instruments (significant unobservable inputs): Balance at December 31, 2018 $ 2,798 Change in fair value 289 Balance at March 31, 2019 $ 3,087 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule Of Share-Based Payment Arrangements | The Company granted the following stock-based awards: Three Months Ended 2019 2018 Stock options 17,000 — Restricted stock awards and restricted stock units 98,492 — |
Schedule of Allocation of Share-based Compensation Costs by Plan | The Company recognized the following expense related to its share-based payment arrangements (in thousands): Three Months Ended 2019 2018 Stock-based compensation cost, before income tax benefit: Stock options $ 94 $ 47 Restricted stock awards and restricted stock units 132 163 Performance stock units 5 — Total stock-based compensation $ 231 $ 210 Three Months Ended 2019 2018 Stock-based compensation cost included in: Cost of revenues $ 8 $ 10 Operating expenses 223 200 Total stock-based compensation $ 231 $ 210 |
Computation of Net Loss Per S_2
Computation of Net Loss Per Share of Common Stock (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Components Of Net Income (Loss) Per Basic And Diluted Share | The following table identifies the components of net loss per basic and diluted share (in thousands, except for per share data): Three Months Ended 2019 2018 Net loss per share – basic and diluted Net loss $ (950 ) $ (4,530 ) Weighted average shares outstanding 9,688 9,370 Net loss per share $ (0.10 ) $ (0.48 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Stock options, warrants and restricted stock units to acquire common shares excluded from the computation of diluted weighted-average common shares as their effect is anti-dilutive were as follows (in thousands): Three Months Ended 2019 2018 Stock options 1,416 1,316 Warrants 1,339 1,126 Restricted stock units 150 150 Total anti-dilutive 2,905 2,592 |
Nature of Business and Basis _4
Nature of Business and Basis of Presentation - Narrative (Details) | 3 Months Ended | ||
Mar. 31, 2019USD ($)segment | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Number of reportable segments | segment | 1 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Present value of lease liabilities | $ 1,570,000 | ||
Operating lease liabilities | 549,000 | $ 759,000 | $ 0 |
Operating lease liabilities, non-current | 1,021,000 | 1,100,000 | 0 |
Right of use assets – operating leases | $ 1,128,000 | 1,367,000 | 0 |
Contract termination obligation | $ 218,000 | ||
Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Present value of lease liabilities | 1,900,000 | ||
Operating lease liabilities | 759,000 | ||
Operating lease liabilities, non-current | 1,100,000 | ||
Right of use assets – operating leases | 1,400,000 | ||
Cumulative adjustment | $ 190,000 |
Nature of Business and Basis _5
Nature of Business and Basis of Presentation - Cumulative Effect of Accounting Standards Adoption (Details) - USD ($) | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Property and equipment, net of accumulated depreciation of $2,912 and $2,809, respectively | $ 680,000 | $ 669,000 | $ 545,000 |
Right of use assets – operating leases | 1,128,000 | 1,367,000 | 0 |
Accounts payable and other accrued liabilities | 2,640,000 | 2,627,000 | 2,838,000 |
Operating | 549,000 | 759,000 | 0 |
Deferred rent | 0 | 0 | 45,000 |
Operating lease liabilities, non-current | 1,021,000 | 1,100,000 | 0 |
Deferred rent, non-current | 0 | 0 | 302,000 |
Accumulated deficit | $ (59,635,000) | (58,685,000) | $ (58,875,000) |
Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right of use assets – operating leases | 1,400,000 | ||
Operating | 759,000 | ||
Operating lease liabilities, non-current | 1,100,000 | ||
Accounting Standards Update 2016-02 | Scenario, Adjustment [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Property and equipment, net of accumulated depreciation of $2,912 and $2,809, respectively | 124,000 | ||
Right of use assets – operating leases | 1,367,000 | ||
Accounts payable and other accrued liabilities | (211,000) | ||
Operating | 759,000 | ||
Deferred rent | (45,000) | ||
Operating lease liabilities, non-current | 1,100,000 | ||
Deferred rent, non-current | (302,000) | ||
Accumulated deficit | $ 190,000 |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 7,098 | $ 4,831 |
North America | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,308 | 2,810 |
Europe | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2,241 | 1,610 |
Asia | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 549 | 411 |
Software licenses and appliances | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,005 | 451 |
Subscription, maintenance and support | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,563 | 4,038 |
Professional services and other | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 530 | 342 |
Total service | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 6,093 | $ 4,380 |
Revenue Narrative (Details)
Revenue Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Contract with Customer, Performance Obligation Satisfied in Previous Period | $ 0 | $ 0 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligations | 11.3 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligations | $ 19.8 |
Revenue Contract Acquisition Co
Revenue Contract Acquisition Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Capitalized Contract Cost [Line Items] | |||
Capitalized contract cost, amortization | $ 600 | $ 200 | |
Deferred Commissions | |||
Capitalized Contract Cost [Line Items] | |||
Capitalized contract costs, current | 491 | $ 527 | |
Capitalized contract costs, noncurrent | $ 24 | $ 33 |
Revenue Contract Assets and Lia
Revenue Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |||
Contract with Customer, Performance Obligation Satisfied in Previous Period | $ 0 | $ 0 | |
Contract assets | 1,661 | $ 485 | |
Contract with customer, liability | 11,000 | $ 11,300 | |
Contract with customer, liability, revenue recognized | $ 3,700 |
Intangible Assets and Goodwil_2
Intangible Assets and Goodwill (Components Intangible Assets) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Finite-Lived Intangible Assets [Line Items] | ||
Original cost | $ 15,143 | $ 15,021 |
Accumulated amortization | (11,187) | (10,774) |
Net identifiable intangible assets | 3,956 | 4,247 |
Customer Relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Original cost | 4,860 | 4,818 |
Accumulated amortization | (2,876) | (2,721) |
Net identifiable intangible assets | 1,984 | 2,097 |
Developed Technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Original cost | 8,102 | 8,023 |
Accumulated amortization | (7,332) | (7,110) |
Net identifiable intangible assets | 770 | 913 |
Trademarks / Trade-Names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Original cost | 2,181 | 2,180 |
Accumulated amortization | (979) | (943) |
Net identifiable intangible assets | $ 1,202 | $ 1,237 |
Intangible Assets and Goodwil_3
Intangible Assets and Goodwill (Intangible Assets Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Finite-lived Intangible Assets [Roll Forward] | ||
Balance, beginning of period | $ 4,247 | |
Amortization expense | (335) | $ (527) |
Currency translation | (44) | |
Balance, end of period | $ 3,956 |
Intangible Assets and Goodwil_4
Intangible Assets and Goodwill (Amortization Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Total amortization expense | $ 335 | $ 527 |
Cost of revenues | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization expense associated with intangible assets | 117 | 298 |
Operating expenses | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization expense associated with intangible assets | $ 218 | $ 229 |
Intangible Assets and Goodwil_5
Intangible Assets and Goodwill (Narrative) (Details) - USD ($) $ in Thousands | Oct. 03, 2014 | Mar. 31, 2019 | Dec. 31, 2018 |
Goodwill And Intangible Assets [Line Items] | |||
Goodwill | $ 7,134 | $ 6,971 | |
Kulu Valley Ltd | |||
Goodwill And Intangible Assets [Line Items] | |||
Goodwill acquired during period | $ 8,800 | ||
Intangible assets acquired during the period | $ 6,700 | ||
Goodwill | $ 7,100 |
Commitments and Contingencies -
Commitments and Contingencies - Components of Lease Cost (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Operating lease cost | $ 193 |
Finance lease cost: | |
Amortization of right of use assets | 13 |
Interest on lease liabilities | 2 |
Total finance cost | 15 |
Total lease cost | $ 208 |
Commitments and Contingencies
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | Jul. 19, 2018 | Jan. 12, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Oct. 21, 2016 |
Debt Disclosure [Abstract] | |||||
Gain on contract termination | $ 21 | ||||
Sublease income | 38 | ||||
Lease contract termination liability | $ 218 | ||||
Debt Instrument [Line Items] | |||||
Credit agreement | $ 4,000 | $ 4,000 | |||
Interest rate | 9.50% | ||||
ESW Holdings, Inc. | |||||
Debt Instrument [Line Items] | |||||
Credit agreement | $ 10,000 | ||||
Principal payment | $ 6,000 | ||||
Variable rate | 4.00% | ||||
Debt, fair value | $ 3,600 | ||||
Hale Capital, LLP | |||||
Debt Instrument [Line Items] | |||||
Credit agreement | $ 8,000 | ||||
Prepayment fee | 10.00% |
Commitments and Contingencies_2
Commitments and Contingencies - ROU Assets and Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Assets | |||
Operating lease assets | $ 1,128 | $ 1,367 | $ 0 |
Finance lease assets | 224 | ||
Total lease assets | 1,352 | ||
Current | |||
Operating | 549 | 759 | 0 |
Finance | 79 | ||
Non-current | |||
Operating | 1,021 | $ 1,100 | $ 0 |
Finance | 146 | ||
Total lease liabilities | $ 1,795 |
Commitments and Contingencies_3
Commitments and Contingencies - Other Information Related to Leases (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Cash paid for amounts included in the measurement of lease liabilities | |
Operating cash flow from operating leases | $ 96 |
Operating cash flow from finance leases | 13 |
Financing cash flow from finance leases | 11 |
ROU assets obtained in exchange for new lease obligations | |
Finance leases | $ 148 |
Weighted-average remaining lease term: | |
Operating leases | 3 years 4 months |
Finance leases | 2 years 10 months |
Weighted-average discount rate: | |
Operating leases | 10.00% |
Finance leases | 6.20% |
Commitments and Contingencies_4
Commitments and Contingencies - Credit Agreement (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Commitments and Contingencies Disclosure [Abstract] | ||
Term loan, at face value | $ 4,000 | $ 4,000 |
Unamortized original issue discount | (373) | (481) |
Unamortized debt issuance costs | (68) | (88) |
Term loan | $ 3,559 | $ 3,431 |
Commitments and Contingencies_5
Commitments and Contingencies - Future Payments Used in Measurement of Lease Liabilities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Operating leases | |
Remainder of 2019 | $ 566 |
2020 | 427 |
2021 | 435 |
2022 | 393 |
2023 | 20 |
Total undiscounted lease payments | 1,841 |
Less amount representing interest | (271) |
Present value of lease liabilities | 1,570 |
Finance leases | |
Remainder of 2019 | 68 |
2020 | 91 |
2021 | 80 |
2022 | 5 |
2023 | 0 |
Total undiscounted lease payments | 244 |
Less amount representing interest | (19) |
Present value of lease liabilities | $ 225 |
Fair Value Measurements - Narr
Fair Value Measurements - Narrative (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2019USD ($)Warrantshares | Mar. 31, 2018USD ($) | Aug. 31, 2018$ / sharesshares | Jan. 12, 2018$ / sharesshares | Oct. 21, 2016$ / sharesshares | |
Class of Warrant or Right [Line Items] | |||||
Number of warrants issued | Warrant | 2 | ||||
Warrant shares (in shares) | 1,239,286 | ||||
Change in fair value of warrant liability | $ | $ (289) | $ 387 | |||
Hale Capital, LLP | |||||
Class of Warrant or Right [Line Items] | |||||
Warrant shares (in shares) | 314,286 | ||||
Warrant, exercise price (in dollars per share) | $ / shares | $ 2.80 | ||||
ESW Holdings, Inc. | |||||
Class of Warrant or Right [Line Items] | |||||
Warrant shares (in shares) | 925,000 | ||||
Warrant, exercise price (in dollars per share) | $ / shares | $ 1.96 | ||||
iStudy Co., Ltd. | |||||
Class of Warrant or Right [Line Items] | |||||
Warrant shares (in shares) | 100,000 | ||||
Warrant, exercise price (in dollars per share) | $ / shares | $ 2.43 |
Fair Value Measurements - Meas
Fair Value Measurements - Measurement Levels (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | $ 3,087 | $ 2,798 |
Quoted Prices in Active Markets (Level 1) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 3,087 | 2,798 |
Derivative warrant liability - ESW warrant | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 2,266 | 2,015 |
Derivative warrant liability - ESW warrant | Quoted Prices in Active Markets (Level 1) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Derivative warrant liability - ESW warrant | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Derivative warrant liability - ESW warrant | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 2,266 | 2,015 |
Derivative warrant liability - Hale warrant | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 761 | 750 |
Derivative warrant liability - Hale warrant | Quoted Prices in Active Markets (Level 1) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Derivative warrant liability - Hale warrant | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Derivative warrant liability - Hale warrant | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 761 | 750 |
Derivative warrant liability - iStudy | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 60 | 33 |
Derivative warrant liability - iStudy | Quoted Prices in Active Markets (Level 1) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Derivative warrant liability - iStudy | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | 0 | 0 |
Derivative warrant liability - iStudy | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative liability | $ 60 | $ 33 |
Fair Value Measurements - Roll
Fair Value Measurements - Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Change in fair value | $ 289 | $ (387) |
Fair value, measurements, recurring | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at December 31, 2018 | 2,798 | |
Balance at March 31, 2019 | 3,087 | |
Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at December 31, 2018 | 2,798 | |
Change in fair value | 289 | |
Balance at March 31, 2019 | $ 3,087 |
Stock-Based Compensation - Sch
Stock-Based Compensation - Schedule of Stock-based Awards Granted (Details) - 2007 Stock Incentive Plan - shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options granted (in shares) | 17,000 | 0 |
Restricted stock awards and restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Equity instruments other than options, granted (in shares) | 98,492 | 0 |
Stock-Based Compensation - Nar
Stock-Based Compensation - Narrative (Details) - Performance stock units - shares | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
2018 Performance Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity instruments other options, outstanding (in shares) | 147,741 | ||
Equity instruments other than options, vested (in shares) | 98,492 | ||
Award vesting rights, percentage | 100.00% | ||
2017 Performance Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity instruments other options, outstanding (in shares) | 140,493 | ||
Equity instruments other than options, vested (in shares) | 116,168 | ||
Shares issued (in shares) | 25,726 | ||
Award vesting rights, percentage | 22.10% |
Stock-Based Compensation - S_2
Stock-Based Compensation - Schedule Of Allocation of Share-Based Compensation Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated share-based compensation expense | $ 231 | $ 210 |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated share-based compensation expense | 94 | 47 |
Restricted stock awards and restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated share-based compensation expense | 132 | 163 |
Performance stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated share-based compensation expense | 5 | 0 |
Cost of revenues | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated share-based compensation expense | 8 | 10 |
Operating expenses | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated share-based compensation expense | $ 223 | $ 200 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Unrecognized tax benefits | $ 1,700,000 | $ 1,700,000 |
Accrued interest and penalties relating to unrecognized tax benefits | $ 11,100 | $ 5,600 |
Computation of Net Loss Per S_3
Computation of Net Loss Per Share of Common Stock - Components Of Net Income (Loss) Per Basic And Diluted Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net loss per share – basic and diluted | ||
Net loss | $ (950) | $ (4,530) |
Weighted average shares outstanding (in shares) | 9,688 | 9,370 |
Net loss per share (in dollars per share) | $ (0.10) | $ (0.48) |
Computation of Net Loss Per S_4
Computation of Net Loss Per Share of Common Stock (Schedule of Antidilutive Securities Excluded from the Computation of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 2,905 | 2,592 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 1,416 | 1,316 |
Warrants | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 1,339 | 1,126 |
Restricted stock units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 150 | 150 |
Uncategorized Items - qumu-2019
Label | Element | Value |
Accounting Standards Update 2016-02 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 0 |
Accounting Standards Update 2016-02 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 190,000 |
Accounting Standards Update 2014-09 [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 934,000 |
Accounting Standards Update 2014-09 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (5,000) |
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 939,000 |