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Quarterly Financial Information (unaudited)
12 Months Ended
Dec. 31, 2022
Quarterly Financial Information (unaudited)  
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.