Quarterly Financial Information (unaudited) |
20. Quarterly Financial Information (in thousands, unaudited) | | For the three months ended | | | | March 31, | | | June 30, | | | September 30, | | | December 31, | | Consolidated | | 2022 | | | 2022 | | | 2022 | | | 2022 | | Service revenue | | $ | 4,398 | | | $ | 4,556 | | | $ | 4,473 | | | $ | 6,088 | | Software Solutions | | | 3,268 | | | | 3,598 | | | | 3,875 | | | | 4,407 | | Product revenue | | | 492 | | | | 692 | | | | 760 | | | | 947 | | Total revenue | | | 8,158 | | | | 8,846 | | | | 9,108 | | | | 11,442 | | Operating expenses: | | | | | | | | | | | | | | | | | Cost of service revenue | | | 1,436 | | | | 1,438 | | | | 1,375 | | | | 2,462 | | Cost of software solutions | | | 1,661 | | | | 1,131 | | | | 1,141 | | | | 1,403 | | Cost of product revenue | | | 317 | | | | 372 | | | | 453 | | | | 495 | | Selling and marketing | | | 2,584 | | | | 2,771 | | | | 2,732 | | | | 3,638 | | General and administrative | | | 3,249 | | | | 2,757 | | | | 2,800 | | | | 4,098 | | Research and development | | | 304 | | | | 1,229 | | | | 1,151 | | | | 1,271 | | Goodwill and long-lived asset impairment | | | - | | | | - | | | | - | | | | 32,678 | | Total operating expenses | | | 9,551 | | | | 9,698 | | | | 9,652 | | | | 46,045 | | Loss from operations | | | (1,393 | ) | | | (852 | ) | | | (544 | ) | | | (34,603 | ) | Total other income/(expense), net | | | (28 | ) | | | (126 | ) | | | (184 | ) | | | 1,555 | | Loss before income taxes | | | (1,421 | ) | | | (978 | ) | | | (728 | ) | | | (33,048 | ) | Income tax benefit | | | 201 | | | | 82 | | | | 32 | | | | 447 | | Net loss | | $ | (1,220 | ) | | $ | (896 | ) | | $ | (696 | ) | | $ | (32,601 | ) | | | | | | | | | | | | | | | | | | Basic earnings per common share (1) | | $ | (0.05 | ) | | $ | (0.04 | ) | | $ | (0.03 | ) | | $ | (1.33 | ) | Diluted earnings per common share (1) | | $ | (0.05 | ) | | $ | (0.04 | ) | | $ | (0.03 | ) | | $ | (1.33 | ) |
| | For the three months ended | | | | March 31, | | | June 30, | | | September 30, | | | December 31, | | Consolidated | | 2021 | | | 2021 | | | 2021 | | | 2021 | | Service revenue | | $ | 4,139 | | | $ | 4,327 | | | $ | 4,325 | | | $ | 4,311 | | Software solutions revenue | | | - | | | | 1,012 | | | | 3,784 | | | | 3,870 | | Product revenue | | | 368 | | | | 440 | | | | 701 | | | | 815 | | Total revenue | | | 4,507 | | | | 5,779 | | | | 8,810 | | | | 8,996 | | Operating expenses: | | | | | | | | | | | | | | | | | Cost of service revenue | | | 1,259 | | | | 1,347 | | | | 1,210 | | | | 1,288 | | Cost of software solutions revenue | | | - | | | | 526 | | | | 1,675 | | | | 1,830 | | Cost of product revenue | | | 225 | | | | 286 | | | | 461 | | | | 553 | | Selling and marketing | | | 1,279 | | | | 1,897 | | | | 2,285 | | | | 2,799 | | General and administrative | | | 2,216 | | | | 2,579 | | | | 2,768 | | | | 3,023 | | Research and development | | | 350 | | | | 388 | | | | 358 | | | | 300 | | Total operating expenses | | | 5,329 | | | | 7,023 | | | | 8,757 | | | | 9,793 | | Income/(loss) from operations | | | (822 | ) | | | (1,244 | ) | | | 53 | | | | (797 | ) | Total other income/(expense), net | | | (17 | ) | | | (19 | ) | | | (41 | ) | | | (23 | ) | Income/(loss) before income taxes | | | (839 | ) | | | (1,263 | ) | | | 12 | | | | (820 | ) | Income tax benefit/(provision) | | | 124 | | | | 260 | | | | (137 | ) | | | 218 | | Net loss | | $ | (715 | ) | | $ | (1,003 | ) | | $ | (125 | ) | | $ | (602 | ) | | | | | | | | | | | | | | | | | | Basic earnings per common share (1) | | $ | (0.04 | ) | | $ | (0.05 | ) | | $ | (0.01 | ) | | $ | (0.03 | ) | Diluted earnings per common share (1) | | $ | (0.04 | ) | | $ | (0.05 | ) | | $ | (0.01 | ) | | $ | (0.03 | ) |
——————— (1) | Earnings per common share is computed independently for each of the quarters presented. Therefore, the sums of quarterly earnings per common share amounts do not necessarily equal the total for the twelve month periods presented. |
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